The Dinar Daily, Monday June 1, 2015
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  1. #1

    The Dinar Daily, Monday June 1, 2015

    CENTRAL BANK OF IRAQ

    CURRENCY CODE SELL BUY
    US dollar USD 1166.000 1164.000


    CURRENCY CODE SELL BUY
    US dollar USD 1166.000 1164.000
    Euro EUR 1279.102 1278.462
    British pound GBP 1777.917 1777.028
    Canadian dollar CAD 935.419 934.915
    Swiss franc CHF 1238.186 1237.567
    Swedish krona SEK 137.524 137.456
    Norwegian krone NOK 149.848 149.773
    Danish krone DKK 171.468 171.382
    Japanese yen JPY 9.422 9.418
    Special
    Drawing Rights
    SDR 1621.323 1620.512

    Indicative rates - (as of) 01.6.2015


    http://www.cbi.iq/

    Currency Auctions

    Announcement No. (2960 - most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 28/05/2015 and the results were as follows: (no change as of 01/06/2015)

    DETAILS NOTES
    Number of banks 17
    Number of remittance companies 2
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 217,275,000
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 217,275,000
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 06-02-2015 at 11:17 AM.



  2. #2

    Re: The Dinar Daily, Monday June 1, 2015





    The Exchange Rate of Foreign Currency in Economic Feasibility Studies

    Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.

    Estimate the shadow price of foreign currency:

    1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.

    The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.

    * What is meant by exchange rate: the number of units of foreign currency, expressed in dollar per one dinar.In particular the following outputs and inputs of foreign currency were distinguished:


    • Export-outputs.
    • Outputs marketed locally that substitute imports.
    • Imported inputs.
    • Inputs produced locally that usually go to exports.
    • Foreign labor.


    According to the pricing rules the value of the output and input (traded) is calculated using export prices (FOB) and import prices (CIF), according to what is listed in the pricing rules.

    In other words the pricing rules calculate what the project produces from foreign currency (quantity of exports multiplied by the export price (FOB) in foreign currency or the quantity of substitute imports multiplied by the import price (CIF) in foreign currency, as well as what the project uses from foreign currency and imported inputs multiplied by the import price (CIF) in foreign currency …. etc.).

    In a later step, project outputs and inputs must be converted from the foreign currency to its equivalent in local currency (dinars) by using a specific exchange rate for the foreign currency.

    2. Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports… etc.

    The justifications to call for the use of an exchange rate that is lower than the official exchange rate are:


    • The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production.
    • The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs.
    • The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods.
    • The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities.
    • This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of.


    And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.

    3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.



    The Republic of Iraq – Ministry of Planning

    and

    A "flashback recap" of a Live Q and A Call from about a year ago - on THE DAILY DINAR NEWS BLOG...

    In general terms – there were three main focal points of interest I wanted to cover and then allow listeners to ask whatever questions they liked.

    1) the SIGR report…


    2) the Gold Article…


    3) the IIER report…


    I started the conversation out last night by highlighting how crazy this campaign being fielded to contact our lawmakers and bank CEO’s and tell them how unfair it is they are getting to exchange (exchange is the right terminology BTW – NOT “CASH-IN”) at 32.00 per Dinar and we are not – is. It is nuts.


    Firstly, “they” are NOT being allowed to exchange “early” – or at 32.00 per Dinar. It makes you sound “stark raving MAD” to be caught saying such things. You would be better off barking at the moon. It is demeaning to the validity of a true currency play.


    Secondly, this is entirely the wrong way to approach them. I pointed out on the call that Poppy and I fielded a very successful such campaign a couple of years ago. However, we sat down and came up with a much different approach. It was designed to get answers and to approach our lawmakers with respect and as their constituents. Not like a bunch of lunatics. We had extraordinary participation (because it made sense) and we received a good response from lawmakers. It started the conversation in a reasonable manner.


    I asked one caller – “when was the last time you asked a banker for money and told him how unfair it was if he didn’t give it to you”??? Obviously – we chuckled…


    Another caller asked me if (as DC had relayed) – the “zero’s were raised” and the lower denominations were in circulation??


    I said plainly “no”…lower denominations being in circulation would (at the very least) imply there had been a value change. If there were no value change the lower denoms would not only be of little value, they would be such a hinderance – people might even throw them away just to get rid of them. So no – no lower denoms. I told the caller to check the
    CBI.iq website for “real” info on rate change.

    The “zero’s being raised” or “deleted” – as explained by any reasonable researcher, economist or authority – is simply the process removing the large (3 zero notes) from circulation.


    Referring to an Enorrste post from today on
    THE DINAR OBSERVER DAILY(you may want to put this on your favorites and check in several times a day – we to it often )

    “…I have never found a single article from the CBI or the IMF that equates “delete the zeros” to the idea of “move the decimal point.” Instead, the statements overwhelmingly come out to mean “remove the large notes from circulation.”


    Also – this recent internal memo put out by Wells Fargo is likely “push back” from this recent campaign. I pointed out that Pinnacle Bank published an article by an “affiliate” in their internal publication and then “highlighted it” in a similar internal memo a couple of years ago. It is just a defense mechanism. I’m sure Wells is tired of having their name dragged through the “internet rumor mill”. This is highly likely the reason for their vigorous denials about handling it in the future. They get so many useless calls – it isn’t worth the headache. Can you blame them??


    Further, for any bank, lawmaker, adviser or official to state the “Dinar is a scam” is nearly as foolish as some of the internet “Gurus”. It is the official currency of a COUNTRY. I pointed out (below) the post from yesterday’s
    DINAR OBSERVER DAILY
    – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
    __________________________________________________ _____________

    THIS REPORT WAS SENT TO CONGRESS LAST MAY. IT PLAINLY SHOWS IN THIS REPORT THEY EXPECTED THE DINAR TO REVALUE AT AROUND A DOLLAR IN 2013.

    We are seeing and hearing that the inflation rate is still climbing and they are pushing to get us our money?? This report is from page 84 of the massive SIGR report.





    BGG ~
    This is a screen shot from the “Special Inspector General for Iraq Reconstruction” – Apr 2012, quarterly report to Congress. For members of our Government to say they have no idea what is going on here – means they haven’t read some very basic documents presented them.
    __________________________________________________ ______________

    I pointed out (last night) this is a highly speculative investment. We are, in no way, guaranteed anything. However, this SIGR report gives us some valuable insights…

    1) This is information given to the US CONGRESS on a quarterly basis… I find it hard to believe such an information source would intentionally mislead Congress. They tend to frown on such behavior. Which goes directly to the validity of this adventure – against all advice from Wells Fargo or other such naysayers.

    2) It points out there having been a legitimate “plan” – or time frame in motion…having been projected to be done in 2013. We are obviously in “over time” now.

    3) It gives us an idea as to who is in charge…the CoM – or Council of Ministers. Who do they answer to?? Maliki. Period. When is he likely to push this forward?? Historically – he has been a “weak Dinar” policy advocate. However, rumor from his own inner circle admits he can’t win a third term in office without some currency reform.

    I fully expect him to use every tool in his “wheel house” to win – his recent moves in Anbar and the disputed territories prove as much. Currency reform has to be a “biggie”. Though this WAS their thinking a couple of months ago – there is no promise it is still part of their political calculus. We shall see.

    4) Though no guarantee of the actual future plan they wind up engaging – this report points out an increase in value that would have taken the Dinar from “one-tenth of a cent” to a value “of slightly less than $1″..

    __________________________________________________ ______________

    AND

    Coins put on the market !!



    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara "The project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find metal coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century

    waradana.com

    And

    CBI is preparing to issue a monetary metal parts

    Metal coins from the category of 25 fils were in circulation until the nineties of the last century

    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara Radio Free Iraq, "said the project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century.

    http://www.iraqhurr.org/content/article/26666313.html

    and

    Another "FLASHBACK"...

    Economists Divided Over Deletion Of Zeros

    By Amina al-Dahabi for Al-Monitor.

    The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003. This project has raised many concerns among the Iraqi public and within the business community, and Iraqi economists are divided…

    …Haider al-Abadi, the head of the Iraqi parliamentary Finance Committee, told Al-Monitor that while deleting zeros from the current currency is possible, this has been postponed until after parliamentary elections. He noted that studies are being carried out to ensure that, following the currency change, counterfeiting is limited and that Iraqis don’t go back to trading in the old currency.

    The step to delete zeros from the currency has been postponed several times, leading the parliamentary Economic Committee to demand that the CBI accelerate this project, as Al-Sharqiya reported. In a news conference held July 6, the Economic Committee confirmed that the deletion of zeros will lead to an increase in the value of the Iraqi dinar and will have positive repercussions, including a reduction in unemployment and poverty rates in the country.

    ARTICLE LINK

    Crush Expected When Kuwaiti Banks Reopen Today

    March 24, 1991|From Reuters



    KUWAIT CITY, Kuwait — Thousands of Kuwaitis are expected to jam the country's banks today when they open for the first time since the end of the Iraqi occupation.

    Customers will be allowed to withdraw funds and to swap pre-invasion money for a new currency issued to make more than $1 billion in pre-invasion dinars stolen by the Iraqis worthless.

    "We expect a rush of people," said Issam Asousi, an executive with the Bank of Kuwait. He said it could be a chaotic first week because customers have a lot of questions about their accounts.

    Kuwaiti banks continued operating during the seven-month Iraqi occupation under managers brought in from Iraq, but they have been closed since the U.S.-led alliance ousted the Iraqi army from Kuwait a month ago.

    When the banks reopen today, customers will be able to withdraw up to 4,000 Kuwaiti dinars, equivalent to about $14,000 at pre-invasion exchange rates from their accounts, and to exchange a like amount for foreign currency.

    Balances of customers' accounts will go back to what they were on Aug. 1, a day before the invasion.

    Clients will not be able to exchange Iraqi currency issued during the occupation, when Baghdad pegged the rates of the strong Kuwaiti dinar to the far less valuable Iraqi dinar.

    The new Kuwaiti money will be exchanged for old at a one-to-one rate.

    http://articles.latimes.com/1991-03-..._kuwaiti-banks


    BGG ~ Thanks to wmawhite for some facts on the subject.

    Hi BGG,

    Just thought I would drop you an email. I listened to the call, and was interested in what was said about Kuwait, if I may - I will add my 2 cents worth.

    You were spot on with what you said, I have a close friend who's father made a killing on the KWD. He bought from people who had fled the country and he paid pennies on the dollar (we are in Australia). He took the chance that Iraq would be kicked back out and he was right.

    When the money was reinstated, he exchanged it for AUD at a rate in the mid 3s. The interesting thing about it is, Iraq invaded in November 1990 (I think), they were kicked back out at the end of Feb 1991, the banks reopened with a brand new KWD in late March, that's not a bad time frame to get a currency designed, printed and made ready to use, also the time that the old KWD was valid was initially only for 2 months, then extended to 6, so it was valid until Sept 1991, interesting I think.

    Also the other thing that seems to be a "fact" in Dinar land is Bill Clinton used the Kuwait RV to pay off the debt. However, Clinton was not President in 91, he did not take office until 93, even I know that and I am an Aussie.

    Anyway thanks for the site and enjoy listening to your calls.

    Kind Regards,
    Kevin

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    Re: The Dinar Daily, Monday June 1, 2015

    Private Bankers Association calls for an effective partnership between the state and the private banking sector



    ~ Baghdad / my day: The head of the Iraqi private banks association meek Nuri al-Handal need for legislation and laws flowing toward finding an effective partnership between the state and the private banking sector, describing the decisions issued by the Committee on Economic Affairs in the Cabinet, recently, with the support of the private banking sector, a step in the right direction , especially as it coincides with a critical phase experienced by the private banking sector and where you need to strengthen the confidence in him, in a way that his role development at the level of state jobs and the community. "The representative of the Association of the Economic Commission meek bitter melon in a press statement that there is a great need to expand the circle of activity banking to include different parts of the country, in support of increased banking density desired rates taking care to create a banking units actors can meet the requirements of providing more-than-expected her banking products that can accommodate if it has been activated decisions of the Economic Committee and to respond to the content and objectives, taking into account the focus on the management principle Quality as a step Nhawwaatmad international standards and keep pace with progress in the sector globally. "He explained Handal" that private banks are very optimistic the exit of the Iraqi economy from the current crisis, especially if what has been related to the activation of economic reforms in the forefront of the steps, what should be done includes the banking sector, where It is supporting the financial arm of the development, calling for the support of the Iraqi Central Bank to raise the level of performance of the banking sector, as there is a need for legislation and laws are in the goal of creating an effective partnership between the state and the private sector. "

    And between "All Iraqi banking community welcomed the decisions issued by the Committee on Economic Affairs in the Cabinet, because it is the legislator window that can private banks adopted to enhance its contribution to the revitalization of the Iraqi economy, especially if what has been the credit capacity development of the private banking sector and link it in order to activate Finance and credit projects and especially small and medium ones "of the Council of Ministers of the Economic Commission .ccant has issued decisions, including the recommendation to grant the public sector companies the option to deposit their money and open its accounts in private banks as well as deposit and the distribution of its members' salaries by those banks as well as the approval of the gradual implementation of the deposit of the staff and the salaries of retirees the Chambers of central funding in private banks, taking into account the need to provide branches of the private banks, which believes in the provision of services to the beneficiaries of this system and make sure banks the situation in coordination with the Central Bank. "

    The Committee agreed to do for the issuance of certified instruments and acceptance of banks by state departments and companies general with the banks commitment to providing adequate balances in their accounts with the Central Bank of Iraq and not to their exposure in addition to the claim of the Ministry of Finance and the Central Bank has adopted the resolution on the opening of letters of credit to the private banks up to ten million dollars without passing Iraqi bank for trade. As the Committee also agreed that each of Rafidain and Rasheed deposit part of their funds to the private banks and invest that money in investment projects as well as the Trade Bank of Iraq to open credit lines with private banks under the supervision of the Central Bank of Iraq and the acceptance of letters of guarantee issued by private banks. It consists of the Iraqi banking system of 54 banks, including seven state-owned one of them an Islamic newly established and there are 23 commercial banks, a special nine Islamist There are also 15 branches of Arab banks and foreign as well as many of the institutions that do some banking, including 24 money transfer company and nearly 200 affiliated banking company to deal with banks or banks with a loan guarantee for the Company and the financing of small and medium enterprises with two companies for E-banking services and the smart card in addition to about a thousand a subsidiary of the private banks and distributed to Iraqi provinces where about 10 000 employees work. "

    http://beladitoday.com

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    Re: The Dinar Daily, Monday June 1, 2015

    Parliamentary Security confirm the arrival of the issuance of the national card system to Baghdad



    BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - for the Security and Defense Committee member of the parliamentary architecture Ihsanoglu said, the main system for the issuance of national card that the Ministry of Interior plans to release in the month of July and reached the Iraqi capital Baghdad.

    He added Davutoglu's (IMN) that "the Interior Minister Mohammed Ghabban said to the Committee on Security and Defense parliamentary ministry is ready to issue a full unified national card," noting that "there are 354 offices will open in the whole of Iraq."

    He noted that "the issuance of a unified national card need to enact a law in the House of Representatives special card," pointing out that "if the law is not prescribed can the Ministry of the Interior issued based on the issuance of the identity of the Civil Status Law".

    The General Directorate of Nationality earlier, that the proposed model of a unified national card with technical specifications developed in a very difficult quality to imitate him or falsified.

    From: Sam Haj

    http://center-imn.net

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    Re: The Dinar Daily, Monday June 1, 2015

    The issuance of new categories of paper currency early 2016

    Baghdad ~ / my today announced the governor of the Iraqi Central Bank / agency / Keywords Ali Mohsen, said that early 2016 will see the issuance of new categories of paper currency is the / 50 / thousand dinars and / 100 / thousand dinars added to Iraqi currency notes. He said a series Keywords in a press statement that "work at the present time is to take the necessary measures to directly measures Add new categories / 50 / thousand dinars and / 100 / thousand dinars to smooth the Iraqi currency notes, adding, that the issuance of these two categories does not affect the Iraqi dinar exchange rate against the dollar US.

    "He added," The categories / 50/100 and Alpha / Alpha will be the beginning of the promulgation in 2016 and quantities covering the market need, adding that "the issuance of two classes will not have a relationship to revive the Iraqi dinar against the dollar". As regarding fraud, stressed that the Keywords "categories Cetkonan the advantages of good recipes are difficult falsified and they Sthmlan sophisticated and high protection such as transparent window and a sign of the Spark, which limit the currency counterfeiting", stressing Keywords, "The operations of the issuance of high categories of security signs will improve the performance of the Iraqi dinar and reduce dependence on the dollar in large transactions where it will be performance of large transactions in Iraqi dinars / large groups / Keywords He continued saying: "The central bank has no intention to withdraw from circulation categories for the time being except the / 50 / BD category that have been withdrawn from circulation in the first of the month. And was a member of the Economic Committee MP for the Kurdistan Alliance Najiba Najib confirmed the development of new measures by the central bank and the Finance Committee in the House of Representatives for the issuance of pumping the category of / 50 / thousand dinars, and the category of / 100 / thousand dinars in the local market as a measure to reduce the demand for foreign currency and support currency local.

    http://beladitoday.com

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    Re: The Dinar Daily, Monday June 1, 2015

    Iraq opens three international airports



    By Mohammed Emad

    Brother - Baghdad Search Transport Minister Baqir al-Zubaidi with US Boeing Company is equipped Iraqi Airways aircraft type (777-200 LR The aircraft Dreamliner 787), while stressing that it will be opening three international airports in Iraq next few months.

    Information Office of the Zubaidi said in a press release, received for News Agency (et) that "Transport Minister Baqir al-Zubaidi and his accompanying delegation met in London company Boeing US headed by Donald Calvin international sales manager and technical delegation accompanying represented the Director of Regional Marketing Commercial Airplanes George Molanaa and Regional Director For decades commercial aircraft Kelvin Crane and senior manager in the Finance Division of the aircraft Alacherq East Dokls Hadley. "

    The bureau added that "Boeing made ​​a detailed presentation to group types of aircraft, including the aircraft that have been contracted for the benefit of the Iraqi Airways type (777-200 LR The aircraft Dreamliner 787). "

    He said al-Zubaidi, according to the statement, the need to "increase the number of aircraft of Iraqi Airways sophisticated, modern and the kinds larger sizes because of the increasing number of demand of trips them (Hajj and Umrah trips, pilgrims, travel foreign workers in foreign companies under contract with the Ministry of Oil, and other applications ) ", pointing out that" there is an intention to open the offices of Iraqi Airways in multiple distant countries. "

    It promised that "the next few months will see the opening of the three international airports in Iraq provinces of Maysan, Wasit, Dhi Qar," which will greatly help facilitate the process generally travelers and visitors to the holy sites, especially the transfer. "

    The face-Zubaidi, "director general of Iraqi Airways Samer Kubba constantly talks with Boeing and coordination at the highest level to follow up on issues that would speed up work, especially on the subject of pilot training candidates totaling approximately fifty-candidate to help in the testing of language terms and conditions of safety required for that."

    For its part, expressed Boeing's "willingness to supply Iraq with aircraft with the possibility of support in the training of cadres of the Iraqi Airways especially after he suffered Iraq from the break for more than 30 years," welcoming "signed a memorandum of understanding between the Iraqi Airways Company Rolzeraas yesterday, especially The Boeing Company used Mhark aircraft manufactured by Rolzeraas company which has a contract with Iraq for the processing of new and modern aircraft for the coming years. "

    http://www.khabaar.net

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    Re: The Dinar Daily, Monday June 1, 2015

    Stop the introduction of the new customs tariff in Trebil border port temporarily



    BAGHDAD / Baghdadi News / ... Anbar Provincial Council, announced on Monday, stopping work for customs tariff in Trebil border with Jordan on a temporary basis.

    The head of the border crossing points in the Anbar Suad Jassim said in press statements pursued / Baghdadi News /, "The introduction of the new customs tariff temporarily stopped at Trebil border with Jordan."

    Jassim added that "the move came because of the work tariff in Kurdistan province and Basra ports at the moment."
    She explained that "the new customs tariff applied at the present time will increase the high customs duties on goods that enter the merchants of Anbar, which will reflect negatively on the shoulders of the citizen because of poor security and economic conditions in the province."
    She stressed that "stop work temporarily customs tariff will contribute to easing the burden on the citizen" .anthy 21 n

    http://www.albaghdadianews.com

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    Re: The Dinar Daily, Monday June 1, 2015

    Deputy Prime Minister: the three presidencies agree to start national reconciliation



    BAGHDAD / Baghdadi News / ... three presidencies agreed during the meeting held, on Sunday evening, to begin the process of national reconciliation.

    Said Deputy Prime Minister Bahaa al-Araji in a statement received / Baghdadi News /, a copy of the "meeting of the three presidencies, which was held yesterday evening, in the presence of all its members, was determined the causes of the current problems and agreed to cooperate to find solutions to them."

    Araji said that "the meeting discussed the details of threads disputed high level of transparency, the most important being the subject of the popular crowd and displaced people," pointing out that "the meeting voiced their support for the rally popular as part of the armed forces, and support for displaced people and to stand with them in finding mechanisms to bring them back to their regions and their cities liberated."
    The statement said he "was also agreed on the need to create a national unified speech for all, and to stand against the media play up the enemies of Iraq, and to begin the process of genuine national reconciliation."

    He stressed that the "government headed by al-Abadi support was a key option for all communities, and we believe the continuation of such meetings, and the creation of the follow-up mechanism for the peculiarities, will make us in front of the Iraqi objective solutions to our problems," .anthy 21 n

    http://www.albaghdadianews.com

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    Re: The Dinar Daily, Monday June 1, 2015

    Iraqi Oil announces increase "unprecedented" Balsaddarat daily revenues last May


    Tanker loaded with fuel - m P

    Twilight News / Oil Ministry announced a rise exported quantities of crude oil and the revenue generated for the month of May according to preliminary statistics issued by the Iraqi Oil Marketing Company "Sumo".

    A statement by the Ministry of Oil on the lips of Tdtha Assem Jihad, responded to Twilight News, "the total quantity of oil exports amounted to more (97.504) ninety-seven million five hundred and four thousand barrels, while revenue generated amounted to more than (5) five billion dollars."

    He stressed that daily exports of crude oil rate rose, reaching approximately (3.145) three million which has not been achieved during the past decades.

    He said the total volume of oil exports and revenue generated for the month of May rose and was one of the southern ports in Basra more than (83.520) three and eighty-five hundred and twenty million barrels, while total exports through the northern ports / Ceyhan Aktrmen (13.984) thirteen million nine hundred and eighty-four thousand barrels.

    He added that the average selling price also rose in March compared to the previous month, reaching 55 dollars per barrel.

    And that amounts above have been downloaded by the international oil companies that carry different nationalities from the ports of Basra and Khor al-Amaya and buoys unilateralism on the Arabian Gulf and the Turkish port of Ceyhan.

    He noted that the ministry has made a special effort to increase its exports of crude oil as compensation for the disabled tanker loading days due to bad weather from the southern ports.

    http://www.ara.shafaaq.com

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    Re: The Dinar Daily, Monday June 1, 2015

    Abdul-Mahdi and his counterpart from Azerbaijan discuss prospects for investment and training Iraqi technicians



    Twilight News / Search Oil Minister Adel Abdul-Mahdi on Monday, with the Minister of Energy of Azerbaijan to open new horizons for investment and training Iraqi technicians to sophisticated means in oil extraction.

    A statement from the Office media advisor to the minister of oil, and responded to Twilight News, he said Abdul-Mahdi stressed the importance of cooperation with Azerbaijan, which will be reflected positively on the reality of the oil industry and oil infrastructure facilities.

    He stressed the keenness of the ministry to create a safe environment to attract investments flowing into the oil sector and elevate the interests of the oil industry in the country.

    The statement added that Abdul-Mahdi also met with Oil and Gas Company of Azerbaijan said his country seeks to strengthen relations and economic cooperation between the two countries and to achieve their interests, noting the existence of understandings to sign a number of agreements and memoranda of understanding in different areas.

    He pointed out that Iraq is keen to open new horizons for cooperation with Azerbaijan, which will be reflected positively on the reality of the oil industry and oil infrastructure facilities to create a safe environment to attract investments flowing into the oil sector and elevate the interests of the oil industry in the country.

    He called Abdul-Mahdi, the Azerbaijani companies to invest in Iraq's energy fields.

    http://www.ara.shafaaq.com

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