The Dinar Daily, Friday June 12, 2015
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  1. #1

    The Dinar Daily, Friday June 12, 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 1315.131 1314.474
    British pound GBP 1802.986 1802.084
    Canadian dollar CAD 950.518 950.042
    Swiss franc CHF 1254.168 1253.541
    Swedish krona SEK 141.677 141.606
    Norwegian krone NOK 151.181 151.106
    Danish krone DKK 176.255 176.167
    Japanese yen JPY 9.373 9.368
    Special
    Drawing Rights
    SDR 1641.332 1640.511

    Indicative rates - (as of) 11.06.2015 (no change as of 12.06.2015)


    http://www.cbi.iq/

    Currency Auctions

    Announcement No. (2967 - most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 08/06/2015 and the results were as follows: (no changes as of 12/06/2015)

    DETAILS NOTES
    Number of banks 13
    Number of remittance companies 3
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 121.360.000
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 121.360.000
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 06-13-2015 at 11:24 AM.



  2. #2

    Re: The Dinar Daily, Friday June 12, 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

  3. #3

    Re: The Dinar Daily, Friday June 12, 2015

    Trade: 2512 we recorded a foreign company since 2003, and we expect increased during the current year



    Long-Presse / Baghdad
    The Ministry of Commerce, on Friday, a foreign company registered in 2512 were distributed among the branches and representative offices in Iraq since 2003, and showed that while recording Alajnah companies fell during the years 2006 to 2008 because of the security situation, is expected to increase over the current year.

    The Director General of the Department of Registration of companies Ferial Akram Abdullah in an interview with the (long-Presse), said that "in the period following the year 2003, there were draws for many foreign companies to enter the Iraqi market and work, so we find an increase in the number of companies registered since 2003" .

    It said Abdullah that "Date probably fell in some past years that followed the year 2003, specifically in the years 2006, 2007 and 2008 and this probably regard to security matters and others, but recovered in the years that followed and this is evidence of the desire of those companies in its intention to work in Iraq."

    And it showed Abdullah that "companies that recorded were distributed as follows in 2003 saw six foreign companies registered, and in 2004 was registered 254 foreign companies, and in 2005 reached 140 company with 2006 saw record 39 foreign companies, and in 2007 recorded 21 foreign companies , and the year 2008 saw a record 45 foreign companies to arrive in the year 2009 to 116 foreign companies.

    She said Abdullah that "in the year 2010 saw a record 185 foreign companies, was also recorded 401 company in 2011, and in the year 2012 were registered 457 company, and during the year 2013 were registered 412 foreign companies, while the number rose to 436 company during the year 2014 ".

    Abdullah predicted "a rise in the number of unregistered foreign companies through the year 2015 because of the volume of investment and the trend towards private sector development."

    The Iraqi government decided in the (July 20, 2013) to exempt local and foreign investment companies from fees and customs for a period of five years, in a move aimed at boosting economic growth, and attract companies to invest in the country, to be the study of the extension of the exemption order for ten additional years.

    http://www.almadapress.com/ar/news/49949/%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D8%A9-%D8%B3%D8%AC%D9%84%D9%86%D8%A7-2512-%D8%B4%D8%B1%D9%83%D8%A9-%D8%A3%D8%AC%D9%86%D8%A8%D9%8A%D8%A9-%D9%85%D9%86%D8%B0-

  4. #4

    Re: The Dinar Daily, Friday June 12, 2015

    Infallible reveals the formation of a committee to implement the national reconciliation project



    Follow-up - and babysit - President of the Republic Fuad Masum, has announced that the project of national reconciliation it works in cooperation with the three presidencies and the various political forces and parties to form a preparatory committee of the various components of the parties and start to implement it.

    He predicted infallible during the Central Council of the Patriotic Union of Kurdistan (PUK) session on Thursday evening in a building of the Political Bureau in the Sulaymaniyah that "Alavi project receptive and successful within the political and popular circles, because the states and the friends of Iraq are looking to create the atmosphere of a realistic and fact of national reconciliation, a demand of the international community and the West and the European Union and the region, expressing expressed hope that "reconciliation project succeed is reflected positively on the situation in Iraq and to ensure that political, security and economic stability."

    President Masum said according to a statement the Patriotic Union of Kurdistan (PUK) to "the importance of the role of the Kurds in Iraq and the need to maintain relations and the continuation of dialogue and understanding with other powers ingredients, and stay away from convulsions and Maaekr disturb relations," and said he "will discuss with officials in the region, the nature of relations with the center and to develop mechanisms New to end differences and maintain and develop the nature of the relationship and build common understandings between the center and the region, pointing out that "the country is facing a terrorist attack fierce require concerted efforts and energies unite to overcome them and the elimination of terrorism and drain its resources."

    In a separate context infallible President welcomed the successful elections in Turkey and enable democratic peoples Party {HDP} to achieve fruitful results, "adding that" everyone cooperate in the formation of a consensus government that includes everybody will ensure stability for Turkey and the region. "

    http://alrayy.com/144432.htm

  5. #5

    Re: The Dinar Daily, Friday June 12, 2015









    Last edited by pinkadonai1; 06-12-2015 at 11:47 AM.

  6. #6
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    Re: The Dinar Daily, Friday June 12, 2015

    Chairman of the Integrity Commission: Implementation of e-governance program a pioneering step in the fight against corruption



    Baghdad / Baghdad Uz..cd head of the Integrity Commission Hassan al-Yassiri, on Friday, that the implementation of e-governance program in state institutions, a leader in the anti-corruption move.

    Yasiri said in a statement received / Baghdadi News / copy of it, that "the implementation of e-governance program in state institutions is not limited to the rapid achievement of all transactions."

    "The implementation of the program is a leader in the fight against corruption step."

    He announced the Prime Minister Haider al-Abadi, on Thursday, e-governance project (simplification of government procedures) in government departments to facilitate the completion of transactions of the citizens. It ended 21 / d

    http://www.albaghdadianews.com

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    Re: The Dinar Daily, Friday June 12, 2015

    Infallible reveals the formation of a committee to implement the national reconciliation project



    {Baghdad: Euphrates News} Fuad Masum, the President announced that he has a project for national reconciliation by working in cooperation with the three presidencies and the various political forces and parties to form a preparatory committee of the various components of the parties and start to implement it.

    He predicted infallible during the Central Council of the Patriotic Union of Kurdistan (PUK) session on Thursday evening in a building of the Political Bureau in the Sulaymaniyah that "Alavi project receptive and successful within the political and popular circles, because the states and the friends of Iraq are looking to create the atmosphere of a realistic and fact of national reconciliation, a demand of the international community and the West and the European Union and the region, expressing expressed hope that "reconciliation project succeed is reflected positively on the situation in Iraq and to ensure that political, security and economic stability."

    He said President infallible according to a statement the Patriotic Union of Kurdistan (PUK) to "the importance of the role of the Kurds in Iraq and the need to maintain relations and the continuation of dialogue and understanding with other powers ingredients, and stay away from convulsions and Maaekr disturb relations, "and said he" will discuss with officials in the region, the nature of relations with the center and the development of new mechanisms to end conflicts and to maintain and develop the nature of the relationship and build common understandings between the center and the region, pointing out that "the country is facing a terrorist attack fierce require concerted efforts and unify energies to overcome them and the elimination of terrorism and drain its resources. "

    In a separate context President infallible welcomed the successful elections in Turkey and enable democratic peoples Party {HDP} to achieve fruitful results, "adding that" everyone cooperate in the formation of a consensus government that includes everybody will ensure stability for Turkey and the region. "

    After opening the debate and dialogue gave members of the Central Council of their vision and their thoughts and their perceptions of various important topics on the Kurdish and Iraqi arenas and issues.

    In terms of building the internal House Kurdish and end differences and strengthen the unity of the Patriotic Union of Kurdistan (PUK), answered by President infallible frankly and clearly, thanking secretary and members of the Central Council for the opportunity and their efforts continuing to maintain the unity of the Patriotic Union of cohesion and closing ranks in the Kurdistan region of Iraq and in the face of political challenges Alamnah.anthy

    http://wwww.alforatnews.com

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    Re: The Dinar Daily, Friday June 12, 2015

    The advisory board discloses a new date for the implementation of the Customs Law in Iraq



    Twilight News / said the advisers in the presidency of the Iraqi ministers, that the Tariff Act will be applied in all border crossing points in Iraq, including the Kurdistan Region outlets early next August.

    It was scheduled to begin the application of tariff or tariff law last May and which imposes additional financial duties on all goods to the interior of the country, some up to 30% in an effort by the Iraqi government to compensate for the decline in fiscal revenue due to low oil prices.

    The government later decided to delay application of the law after objections broad shown by the provinces of the south.

    The head of the Thamer Ghadhban to Twilight News "The Council of Ministers discussed the tariff law was decided that the application in all border crossing points, including the Kurdistan region outlets in next August."

    Iraq relies on oil exports to the annual financial revenue by up to about 97%, and is seeking through legal legislation package to activate the industrial, agricultural and commercial side including Aamadmn find additional financial revenue along with oil revenues.

    The Iraqi government launched an application procedures (Customs Tariff Act, the Consumer Protection Act, and the law of the national product) in implementation of the government program adopted by Haider Abadi, head of government to be implemented during the period of presiding over government protection.

    http://www.ara.shafaaq.com

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    Re: The Dinar Daily, Friday June 12, 2015

    Reports: Tariq Aziz in Baghdad and then disappeared back in Amman


    Tariq Aziz

    Twilight News / body of Tariq Aziz "disappeared when transferred on Thursday from Baghdad airport to Amman for burial there," according to the news agency "AP" for the daughter of former Iraqi Deputy Prime Minister, who died in "Nasiriyah" prison Iraqi south last week, but he "returned and appeared in the Iraqi capital, "he said as the family's lawyer, adding," it is held by the Jordanian authorities after his kidnapping by unknown (..) did not yet know exactly what happened and why hijacked the body, but it has now reached to Amman, "according to his assertion.

    News of the presence of the body in Amman quoted by Russian RT station in Arabic, and published in its Friday. But the daughter of Tariq Aziz, a Zainab resident in the Jordanian capital, quoted by the news of the disappearance of his body for her mother in Iraq, and said that his disappearance was at the airport itself, while the Jordanian Airways official confirmed that another company flights on Thursday took off from Baghdad airport without being the body on board.

    And it lifted the news channel later issued without explanation for it.

    His son Ziad confirmed to CNN, in Arabic, by telephone from Jordan, and that his mother was present in Iraq to accompany the body of his father, returned to Amman alone, and that none of the members of the family "does not know the whereabouts of the body at the moment."

    It also quoted "Associated Press" for director Medico-Legal Division in Iraq autopsy proved that the death of Aziz, a heart attack, and was scheduled transferred for burial in Oman "after his family get the oral approval of the Iraqi government," according to a report of Jordan "tomorrow" newspaper yesterday.

    On Thursday, also said a number of the media that the gunmen kidnapped Aziz's body from the Baghdad airport, while being transported to the Jordanian capital, said an Iraqi source said the body "is still in Baghdad." After adding that the condition of anonymity, that "the Iraqi and Jordanian lines deny the transfer of the body of Aziz to Amman."

    The news spread that the four-wheel drive cars carrying gunmen No one knows who they belong, and arrived at the Baghdad airport minutes before the body was moved to the inside of the plane and took him without giving reasons you paid for this procedure.

    Known for Tariq Aziz, the real Michael John, and his name, he was born in 1936 near the city of Mosul to the family of a Chaldean Catholic, and was the only Christian official in the former regime, and represents international fronted, and emerged on the world stage after taking the State Department during the second in the 1991 Gulf War, and was speaker on behalf of the government, and lasting impressions through Western media for his mastery of English, and turned himself in April 2003 to US forces days after the entry into Baghdad.

    http://www.ara.shafaaq.com

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    Re: The Dinar Daily, Friday June 12, 2015

    Oil prices are falling after the announcement of Saudi Arabia is ready to increase production



    [Follow-up - where]
    the price of oil futures, fell in Asian trade on Friday after Saudi Arabia said it was ready to further increase in production to meet strong demand.

    In Earlier this week, US crude oil prices recorded a high level of $ 61.82 a barrel, the highest level since the sixth of May, with the receipt of the market in support of strong demand and a large decline in commercial oil stocks in the United States.

    But the rise of the market was halted by expectations pessimistic for the growth of the global economy and also the words of Saudi Arabia's biggest oil exporter in the world it is ready for another increase in the output of crude in the coming months to reach a new record level in response to an increase in global demand.

    Saudi Arabia was increased production in May to about 10.3 million barrels a day, its highest level.

    The decline US crude contracts for July delivery 35 cents to 60.42 dollars a barrel, while Brent crude oil futures fell 25 cents to 64.86 dollars a Brmel.anthy

    http://www.alliraqnews.com

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