The Dinar Daily, Sunday June 14, 2015
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  1. #1

    The Dinar Daily, Sunday June 14, 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 1309.651 1308.996
    British pound GBP 1803.452 1802.996
    Canadian dollar CAD 946.890 946.416
    Swiss franc CHF 1248.127 1247.503
    Swedish krona SEK 141.289 141.218
    Norwegian krone NOK 149.061 1148.986
    Danish krone DKK 175.523 148.986
    Japanese yen JPY 9.482 9.477
    Special
    Drawing Rights
    SDR 1639.501 1638.681

    Indicative rates - (as of) 14.06.2015


    http://www.cbi.iq/

    Currency Auctions

    Announcement No. (2969- most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 10/06/2015 results were as follows:

    DETAILS NOTES
    Number of banks 18
    Number of remittance companies 2
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 146,118,179
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 146,118,179
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 06-15-2015 at 11:03 AM.



  2. #2

    Re: The Dinar Daily, Sunday June 14, 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, Sunday June 14, 2015

    Communications: We will implement the fourth license is the fourth generation system project after approval of the Cabinet



    Long-Presse / Baghdad The Ministry of Communications, on Sunday, their intention to implement the fourth license in accordance with the fourth generation, after use telecommunications companies for services project third-generation (3G), and as pointed out that the project will begin after approval of the Cabinet it, while attributed the reasons for the delay to concern to "address terrorism and the decline in world oil prices. "

    He said the older agent for the Ministry of Communications Amir al-Bayati, said in an interview to the (long-Presse), "The ministry is fully prepared for the start of the fourth license for communications because of infrastructure and chances of success availability of project, especially to have a previous license for the implementation of a similar project," noting that "The ministry and the Media and communications and the Committee on Parliamentary Services, raised the project to the Cabinet for approval and granting the green light to direct it. "

    He said al-Bayati, that "the delay in implementation of the project matters relating to the priorities of the work of the Council of Ministers, especially as the country is witnessing an exceptional situation as a result of responding to terrorism as well as lower world oil prices that have affected the Iraqi economy."

    Al-Bayati said that "The ministry will work on the implementation of the fourth license is legitimate under the fourth generation system, because it is not reasonable to get into the third-generation system after other companies that entered in advance, as well as the need for a significant development in the ministry's efforts."

    The Ministry of Communications revealed in (the sixth of April 2015), has announced the launch of the fourth mobile license, indicating that it will be a national company mobile phone associated with the ministry, and that the Telecommunications Authority will deal with the company as the rest of the mobile phone companies in Iraq a guarantee for "justice" in competition and profits.

    And it operates three mobile phone companies in Iraq now, (Zain Iraq, Asiacell and Korek Telecom). The third generation services (3G) since the beginning of 2015, and has been working since the start of the second generation of its work in Iraq since 2004, until the end of 2014.


    http://www.almadapress.com/ar/news/50083/%D8%A7%D9%84%D8%A7%D8%AA%D8%B5%D8%A7%D9%84%D8%A7%D 8%AA-%D8%B3%D9%86%D9%86%D9%81%D8%B0-%D9%85%D8%B4%D8%B1%D9%88%D8%B9-%D8%A7%D9%84%D8%B1%D8%AE%D8%B5%D8%A9-%D8%A7%D9%84%D8%B1%D8%A7%D8%A8%D8%B9

  4. #4

    Re: The Dinar Daily, Sunday June 14, 2015

    Janbb of the meeting, Undersecretary of the Ministry of Commerce Mohammed al-Samarrai Minister of Commerce and Industry Tunisian satisfaction cockeyed in the Tunisian capital on (June 14, 2015)



    Iraq and Tunisia agree to activate trade relations and establish a partnership between the private sectors in both countries

    Long-Presse / Baghdad


    The Iraqi Ministry of Trade, on Sunday, in an agreement with the Ministry of Commerce and Industries of Tunisia to activate trade relations and establish a partnership between the private sector in the two countries, and noted that it provided a formal invitation to the Tunisian side to participate actively in the session 42 to the Baghdad International Fair.

    And the Commerce Department said, in a statement received (range Press) copy of it, "the Deputy Minister of Trade Mohammed al-Samarrai, met Minister of Commerce and Industry Tunisian satisfaction cockeyed in the Tunisian capital on the invitation of the Tunisian side to attend a business forum organized by the brotherhood Jordanian-Iraqi Society".

    She noted the ministry, that "al-Samarrai agreed with cockeyed on activating the work of the Joint Iraqi - Tunisian Committee through the establishment of the new session of the Baghdad International Fair, as well as the revitalization and development of the volume of trade exchange between the two countries and building a genuine partnership between the Iraqi private sector and Tunisian".

    She drew the ministry, that "the Minister of Trade and Industries Tunisian satisfaction cockeyed, stressed the importance of the exchange of experiences between the two countries through sectoral sessions involved in the concerned authorities to identify the problems and find ways to solve them and consistent in promoting trade and economic relations and the creation of a real company for investment and cooperation in various projects between the two countries. "

    She stressed the ministry, that "the Iraqi ambassador to Tunisia, said during a meeting with Tunisian Minister of Trade on the importance of opening a direct air route between the two countries and facilitate the granting of access to overcome the difficulties impeding the process of cooperation between the two countries visa, especially the commercial and industrial sectors," indicating that "the agent Mohammed al-Samarrai It had delivered "a message that includes an invitation from the Iraqi Trade Minister Mohammed Abdel-Karim Mlas Tunisian side to participate actively in the session 42 to the Baghdad International Fair, which starts on the first of next month.

    The Ministry of Commerce announced, in (June 12, 2015), recorded in 2512 a foreign company were distributed among the branches and representative offices in Iraq since 2003, and as shown that the registration of foreign companies fell during the years 2006 to 2008 because of the security situation, is expected to increase over the current year.

    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.

    https://translate.google.com/translate?sl=auto&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.almadapress.com%2Far%2F&edit-text=

  5. #5
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    Re: The Dinar Daily, Sunday June 14, 2015

    Iraqi Tunisian cooperation in the field of private sector



    Sunday, June 14, 2015 12:08

    BAGHDAD / Baghdadi News / ... The Ministry of Commerce, on Sunday, the Iraqi government has an agreement with the Tunisian government to activate the relations and cooperation in the private sector between the two countries.

    The ministry said in a statement received / Baghdadi News /, a copy of "Iraq and Tunisia have agreed to activate the work of the Commission (the Tunisian Iraqi), and the establishment of seminars and meetings of sectoral between businessmen in the two countries to overcome the dilemmas and build a real partnership in the private sector between the two countries."

    The statement said that "This came during a meeting between the Deputy Minister of Trade Mohammed al-Samarrai with the Minister of Trade and Industry Tunisian satisfaction Elahwal in the Tunisian capital, at the invitation of the Tunisian side to attend a business forum organized by the fraternity Association (Jordanian-Iraqi)".

    Samarrai said according to the statement that "it was agreed with officials in Tunisia on activating the work of the Commission (Iraqi - Tunisian) through the establishment of the new joint session of the Baghdad International Fair".

    He added: "It was also agreed to revitalize and develop the volume of trade exchange between the two countries and provide the necessary facilities, and overcome the difficulties that hinder the development of economic and trade relations between the two countries."

    For his part, Minister of Trade and Industry Tunisian satisfaction Elahwal stressed the importance of "the exchange of experiences between the two countries, through sectoral sessions involved in the concerned authorities to find out the dilemmas and find ways to solve them and consistent in promoting trade and economic relations, and find a real company for investment and cooperation in various projects between two countries. "

    The ministry said "the Iraqi ambassador to Tunisia, had confirmed during the meeting with Tunisian Minister on the importance of opening a direct air route between the two countries and facilitate the granting of visas, to overcome the difficulties that hinder the process of cooperation between the two countries, especially the commercial and industrial sectors," .anthy 21 n

    http://www.albaghdadianews.com

  6. #6
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    Re: The Dinar Daily, Sunday June 14, 2015

    Araji: the government is ready to support the oil companies Shell to double its production field Crazy



    Sunday, June 14, 2015 12:26

    BAGHDAD / Baghdadi News / .. announced by Deputy Prime Minister Bahaa al-Araji, Sunday, for the government's readiness to support the Shell oil company to double production at Majnoon oil Khql.

    Information Office of the Aargi said in a press statement received / Baghdadi News / copy of "al-Araji received chairman of Shell Oil companies in Iraq Hans Vekab, and discussed with him the final production of the oil fields that the company is working to develop them, and especially the Majnoon field levels."

    He added that "al-Araji expressed the readiness of the federal government to support the company and exert maximum efforts in order to overcome the obstacles facing their work, and to double production in the oil Majnoon field, and called on the company to stick to dealing with the Oil Ministry to encourage investment in oil and gas sector process in Iraq."

    For his part, the Director of Shell Hans Vekab companies for "the company's commitment to and investment in Iraq, as announced is not affected companies investing in the development of Iraqi oil and gas sector, the political and security situation in the country." It ended 21 / Q.

    http://www.albaghdadianews.com

  7. #7

    Re: The Dinar Daily, Sunday June 14, 2015

    160 billion dinars revenues to cross Iraqi airspace



    Payment has been transforming into account the Ministry of Finance to support the budget deficit.

    BAGHDAD / obelisk announced Transport Minister Baqir al-Zubaidi, Saturday, for success to transfer 160 billion dinars revenues to cross Iraqi airspace at the expense of the Ministry of Finance to support the budget deficit.

    Zubaidi said in a statement published by the local media and pursued "obelisk", a copy of, "We have succeeded in converting 160 billion dinars revenues to cross Iraqi airspace after a series of difficult negotiations with the International Organization (IATA)."

    Al-Zubaidi added that "payment has been transforming into account the Ministry of Finance to support the budget deficit."

    The Transport Minister Baqir al-Zubaidi called, on Saturday (June 13, 2015), the ministries to go about soft loans similar to the Japanese loan to finance their projects.

    https://translate.google.com/translate?sl=auto&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Falmasalah.com%2Far%2Fnews%2F37874%2 F%25D9%2588%25D8%25B5%25D9%2588%25D9%2584-%25D8%25B1%25D8%25A6%25D9%258A%25D8%25B3-%25D8%25A7%25D9%2584%25D8%25A8%25D8%25B1%25D9%2584 %25D9%2585%25D8%25A7%25D9%2586-%25D8%25A7%25D9%2584%25D9%2589-%25D9%2582%25D8%25A7%25D8%25B9%25D8%25A9-%25D9%2585%25D8%25AC%25D9%2584%25D8%25B3-%25D8%25A7%25D9%2584&edit-text=

  8. #8
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    Re: The Dinar Daily, Sunday June 14, 2015

    Eelam Faili indicate a problem with millions of dollars in Iraqi traders



    Sunday 14-06-2015 | 8:00:24

    Shafaq News / The president of the Chamber of Commerce and Industry in Ilam Province Kurdish Faili, for all the problems of the province between dealers and their Iraqi counterparts, pointing out that his province dealers will face financial problems.

    Shaaban said Vrun was quoted by the IRNA, and seen by Twilight News, the 500 dealer of Ilam Province have amounts in millions of dollars to the Iraqi traders, as a result of trade operations conducted port Mehran border.

    "The Iraqi party refuses payment and argue all the time," without giving reasons.

    He said the delay to pay the debt will cause problems with traders Eelam.

    The record trade exchange between Iran and the race in 2000, only seven thousand dollars, while the exchange log billion last year and $ 300 million.

    According Vrun the Iraqi traders to deal Amilin Mehran port because of its proximity and the security situation there Almsttbh.

    http://www.ara.shafaaq.com

  9. #9

    Re: The Dinar Daily, Sunday June 14, 2015

    Abdul-Mahdi: reading for the global market was accurate



    Tomorrow/Baghdad: Oil Minister, Adel Abdul Mahdi, Tuesday, that forecast higher oil prices signed last January was accurate.

    Abdul-Mahdi said in a press release received by "tomorrow", "last January, when prices were 44 dollars/barrel, said in a paper presented to a Conference in Kuwait, oil prices have reached bottom and will start to rise gradually and slowly.

    He added that "prices rose at a rate of $ 3 per month, revolves around $ 65/barrel", believing that "this trend will continue and is not speculation but inductions for markets and overlapping factors."

    http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Falghadpress.com%2Far%2Fnews%2F32117 %2F%25D8%25B9%25D8%25A8%25D8%25AF-%25D8%25A7%25D9%2584%25D9%2585%25D9%2587%25D8%25AF %25D9%258A-%25D9%2582%25D8%25B1%25D8%25A7%25D8%25A1%25D8%25AA %25D9%2586%25D8%25A7-%25D9%2584%25D9%2584%25D8%25B3%25D9%2588%25D9%2582-%25D8%25A7%25D9%2584%25D8%25B9%25D8%25A7%25D9%2584 %25D9%2585%25D9%258A%25D8%25A9-%25D9%2583

  10. #10
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    Re: The Dinar Daily, Sunday June 14, 2015

    A global company seeking to make Iraq as President of the Internet between continents station



    Sunday 14-06-2015 | 12:53:12

    Twilight News / executive said in one of the submarine cable companies, that Iraq can become expressive Internet connections between continents were available to him if the ground network of high-speed Internet can be more reliable.

    The site is ideal for the movement of Iraq online communication between Asia and Europe, has built a plant to take down the submarine cables in the FAO country on the Gulf Coast to the task.

    The two companies Gulf Bridge International, Qatar, and Global Exchange Claude Hindi, connect the cables submerged under water for the plants, but the bureaucracy in Iraq postponed linked to the terrestrial network wholly owned General Company for Post & Telecommunications Iraqi that.

    Executive President of the Global Cloud Exchange, Rory Cole said in a press statement that he "took the General Company for Post & Telecommunications search for a partner for us in marketing between 3 and 4 years, and was examined about 10 companies during the process."

    In the meantime, neighboring Iran flourished as a partner in Europe- Knight gate fast, which was launched in 2012, which is a fiber optic cable linking Frankfurt and the Sultanate of Oman.

    Cole said that the Iraqis can rival wicker competition "because the road is shorter but should provide a reliable network."

    This led Iraq's refusal to allow private companies to own fixed networks to the slow pace of broadband Internet growth and exacerbated problems because of the rugged terrain and control organization Daash on vast tracts of land.

    And submarine cables can extend for hundreds of kilometers between two points, but underground cables connected to the sources of energy along the way for the transfer of the signal.

    Cole said he was "requires investment in the energy, if you were not connected to the network, this means the need for generators, fuel and cooling air to maintain the temperature."

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