The Dinar Daily, Thursday July 9, 2015
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  1. #1

    The Dinar Daily, Thursday July 9, 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 1274.555 1273.917
    British pound GBP 1802.519 1801.618
    Canadian dollar CAD 915.228 914.770
    Swiss franc CHF 1229.439 1228.824
    Swedish krona SEK 137.291 137.223
    Norwegian krone NOK 141.885 141.814
    Danish krone DKK 170.820 170.735
    Japanese yen JPY 9.503 9.498
    Special
    Drawing Rights
    SDR 1626.500 1625.687

    Indicative rates - (as of) 08.07.2015 (no change as of 09/07/2015)


    http://www.cbi.iq/

    Currency Auctions

    Announcement No. (2991- most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 08/07/2015 results were as follows:

    DETAILS NOTES
    Number of banks 26
    Number of remittance companies 8
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 289,496,419
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 289,496,419
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 07-10-2015 at 10:14 AM.



  2. #2

    Re: The Dinar Daily, Thursday July 9, 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, Thursday July 9, 2015

    Talabani's party meets and confirms the change: to be elected president of the region and his deputy in Parliament



    Long-Presse / Sulaymaniyah Said the political bureau of the Patriotic Union of Kurdistan (PUK), on Thursday, the President of Kurdistan, and his deputy should be elected by Parliament, and as pointed out the need to amend the presidency of the provincial law and regulation powers of the president, the MDC has shown its willingness to hold meetings with all parties to resolve the problems.

    A spokesman for the political bureau of the Patriotic Union of Kurdistan Emad Ahmed during a joint press conference with the MDC delegation member Mohamed Tawfiq Rahim on the sidelines of a meeting held between the two sides at the headquarters of the Movement for Change in Sulaimaniya and attended, (range Press), "The President of Kurdistan, and his deputy must be elected by the Parliament of Kurdistan. "

    Ahmed added that he "should amend the draft law of the presidency of the Kurdistan region, as well as organizing powers of the president of the region."

    For his part, the MDC delegation member Mohamed Tawfiq Rahim during the conference, "The Patriotic Union of Kurdistan and the MDC were their ideas very close," pointing out that "the MDC is ready to hold a meeting with all political parties in order to resolve the Wares issues in the Kurdistan region."

    Included Patriotic Union of Kurdistan, who participated in the meeting Mullah Bakhtiar and Imad Ahmed and Amin Ali, Adnan meat enamel and Dler Mr. Picard and glorious Talabani delegation, while the inclusion of the MDC delegation from Nushirwan Mustafa and Omar Syed Ali and Mustafa Sayid Qadir and Muhammad Tawfiq Rahim.

    http://www.almadapress.com/ar/news/51531/%D8%AD%D8%B2%D8%A8-%D8%A7%D9%84%D8%B7%D8%A7%D9%84%D8%A8%D8%A7%D9%86%D 9%8A-%D9%8A%D8%AC%D8%AA%D9%85%D8%B9-%D8%A8%D8%A7%D9%84%D8%AA%D8%BA%D9%8A%D9%8A%D8%B1-%D9%88%D9%8A%D8%A4%D9%83%D8%AF-

  4. #4

    Re: The Dinar Daily, Thursday July 9, 2015

    Iraq approves contract drilling project for the company Lukoil by more than $ 500 million



    Long-Presse / Baghdad Announced that Russian oil giant Lukoil, on Thursday, the Iraqi government's approval of drilling contract in the project is being implemented in the West Qurna-2 oil, as indicated that the contract value of more than $ 500 million, and that between the Russian company Lukoil and the North Oil Company Iraq, confirmed that the Chinese oil and gas company will be drilling process.

    The Russian oil company Lukoil said in a statement posted on its website and seen by (range Press), "The Iraqi government has agreed to drill held in the project is being implemented in the West Qurna-2 oil worth 527 million dollars."

    She LUKOIL "The Chinese oil and gas company ZPEC will be responsible for drilling operations in the West Qurna-2 oil seed among the largest oil fields in the world features the estimated up to 13 billion barrels of oil reserves."

    According to the statement, "Lukoil will reach peak oil producer in the field rate by the year 2022 any delay-running period of 5 years from the schedule previously and that the restrictions imposed on oil production by the Iraqi government."

    Lukoil owns 75% of the shares of the development of the West Qurna-2 oil project while North Oil Company owns the remaining shares.


    http://www.almadapress.com/ar/news/51528/%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%8A%D8%B5%D8%A7%D8%AF%D9%82-%D8%B9%D9%84%D9%89-%D8%B9%D9%82%D8%AF-%D9%85%D8%B4%D8%B1%D9%88%D8%B9-%D8%AD%D9%81%D8%B1-%D9%84%D8%B4%D8%B1%D9%83

  5. #5

    Re: The Dinar Daily, Thursday July 9, 2015

    Barzani warns of a major economic collapse in Kurdistan confirms: We made a new proposal to Baghdad



    Long-Presse / Sulaymaniyah Warned the president of the Kurdistan Regional Government Nechirvan Barzani, on Thursday, of a major economic collapse may occur in the region because of the fighting against (Daash) and the presence of more than one million displaced people on its territory, and as pointed out that the region submitted a proposal for a new agreement oil between the two parties, stressed that the oil agreement between the two parties it is not currently suitable for Kurdistan.

    He said Nechirvan Barzani said in remarks to the media Kurdistan and followed up (range Press), that "the Government of the Territory already made it clear that the agreement with Baghdad is not currently suitable for the Kurdistan region in economic terms," ​​adding, "The Baghdad understands the fact that the Kurdistan Regional problems too big."

    He said Barzani, that "a major collapse may occur in the Kurdistan region because of the fighting against (Daash) and the presence of more than 1.0007 million thousand displaced people in the Kurdistan region and not being able to distribute employees' salaries for two or three months and the deduction of the Kurdistan Region's budget for 2014".

    He said Barzani, that "we must find a solution to those problems and we hope that Baghdad understands it," pointing out, "There is no decision to approach the Kurdish negotiating delegation to Baghdad and we are ready if the need arises."

    The head of the Kurdistan Regional Government Nechirvan Barzani stressed, on Wednesday (July 8, 2015), that the issue of the presidency of the Kurdistan region is not about a person or one party, and called on the Kurdish forces to negotiate to resolve them, while noting that attempts to sign a new agreement with Baghdad.

    The National Alliance decided, on Tuesday (July 7, 2015), the formation of specialized committees with the government to follow the "setback" suffered by the oil agreement between Baghdad and Erbil, the scarcity of water releases in the country, as he emphasized the need to follow up these issues of importance and gravity, noted the importance of accelerating the implementation of contracts signed with international bodies for the Liberation of the occupied territories of the organization (Daash).

    Baghdad accuses Arbil, not to apply the terms of the oil agreement between the two sides and the failure to provide the full budget of the province with the sale of oil directly without reference to the central government, with assurances from the center the need to apply the Convention between the capital and the province threats.

    The Oil Minister Adel Abdul-Mahdi in (May 30, 2015), that the Baghdad agreement and Erbil remained "steadfast and present", and pointed out that the agreement "is final and can not be relied upon," With attributed the reasons for the differences between Baghdad and the provinces and the Kurdistan region not to approve the oil law and gas, warned of the increasing gaps in the oil agreement between the province and the center in the absence of approval and agreement on the details.


    http://www.almadapress.com/ar/news/51527/%D8%A7%D9%84%D8%A8%D8%A7%D8%B1%D8%B2%D8%A7%D9%86%D 9%8A-%D9%8A%D8%AD%D8%B0%D8%B1-%D9%85%D9%86-%D8%A7%D9%86%D9%87%D9%8A%D8%A7%D8%B1-%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A-%D9%83%D8%A8

    Last edited by pinkadonai1; 07-09-2015 at 10:38 AM.

  6. #6

    Re: The Dinar Daily, Thursday July 9, 2015

    Alliance forces: I will not vote on the amnesty law and accountability and the National Guard as the current



    Long-Presse / Baghdad The leader of the Alliance of Iraqi forces Talal Khudair Zubai, on Thursday, said that a general amnesty and accountability, justice and the National Guard laws we can not vote its current form, and as pointed out the need to make some concessions by the political components for the sake of the country, pointed out that all trials convicted the governed must be returned because it took place in exceptional circumstances.

    Said Talal al-Khudair Zobaie in a statement received (range Press), a copy of it, that "a general amnesty and accountability, justice and the National Guard laws emptied of their content and become only the titles we can not vote its current form," noting that "this legislation in its current form has become unfairly large slice of the sons of the Iraqi people. "

    He Zubai, "there must be a vision of all in parliament and political components and take into account the exceptional situation in the country", stressing the need to "make concessions by the political components and turn the page on the past and forget about it for the sake of the people of the country."

    He pointed Zubai, to "the need for all trials that convicted persons convicted returned and it took place in exceptional circumstances the country was going through, and some of the detainees confessions were extracted under pressure and in a sectarian manner, so it has to be re-examine these issues."

    He Zubai, that "the rights of the Sunni component of the National Guard robbed of law may not be the adaptation of the agreed number between the political blocs, according to the political reform document that formed in the impact of the government," pointing out that "this law can not be passed in the House of Representatives."

    The MP for the coalition of Iraqi forces Khaled Mafraji said, on Tuesday, the (23 June 2015), that a draft of the amnesty law in its current form does not meet the ambition to restore the rights, attributing the reason for the lack of guaranteed amnesty for detained on charges of terrorism or re-investigation covered by Article 4 terrorism , while noting that some political blocs emptied many of the laws of the general content as well as the politicization of the amnesty law.

    The Council of Ministers (June 16, 2015) approved, the amnesty law and referred it to the parliament for a vote.

    The general amnesty law of the most important political program which was agreed upon between the political blocs to form a government in September last items.
    The Iraqi Council of Representatives passed in 2008, the year an amnesty law under which released thousands of detainees at the time, but he met a wide objections by some political parties being contributed to the release of some of the leaders of al Qaeda in a timely manner.

    The head of the Commission on Security and Defense parliamentary, of quitting, said in (the twentieth of June 2015), there are substantial differences on the draft of the National Guard Law, concerning the binding to and arming and move, especially between the National Alliance and the National Forces Alliance and the Kurdistan Alliance, likely delay approval, especially with the lack of funds for his being will be a separate entity from the Ministries of Defense and Interior.

    The President of the House of Representatives, stressed, in (23 December 2014 from the past), that the legislation of the National Guard law will end the "debate" on the popular crowd and clans.


    http://www.almadapress.com/ar/news/51521/%D8%AA%D8%AD%D8%A7%D9%84%D9%81-%D8%A7%D9%84%D9%82%D9%88%D9%89-%D9%84%D9%86-%D9%86%D8%B5%D9%88%D8%AA-%D8%B9%D9%84%D9%89-%D9%82%D9%88%D8%A7%D9%86%D9%8A%D9%86-%D8%A7%D9%84%D9%85%D8%B3


  7. #7
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    Re: The Dinar Daily, Thursday July 9, 2015

    Barzani: We made a new proposal to Baghdad to negotiate an oil agreement



    Thursday, July 9, 2015 10:37

    BAGHDAD / Baghdadi News / .. The president of the Kurdistan Regional Government Nechirvan Barzani, Thursday, for presenting a new proposal to Baghdad to negotiate an oil agreement.

    Barzani said in a press statement seen / Baghdadi News / it "previously explained and emphasize once again, that the Convention is not currently suitable for the Kurdistan region in economic terms, and I think that the fact that Baghdad understands the problems of the region is very large."
    "We must find a solution to those problems, and we hope that Baghdad understands it," noting that "although I can not talk about all the details, but we and through Iraqi Deputy Prime Minister Ruz Nuri Shaways, we made a new proposal to Baghdad, and we are negotiating with them about it ".

    He warned Barzani that "a major collapse may occur in the region of Kurdistan, because of the fighting against Daash, and the presence of more than 1.0007 million thousand displaced people in it, and the inability of the provincial government of the distribution of the employees' salaries for two or three months, in addition to the deduction of balancing the Kurdistan Region for 2014".

    Signed Erbil and Baghdad in December 2, 2014 agreement requires that the Kurdistan Regional Government to export 550 thousand barrels of oil from the fields and fields of Kirkuk, in exchange for the Iraqi government to send the budget of the Kurdistan Region amounting to 17% of the public finances of Iraq budget, but the differences occurred between the two parties, against the backdrop of recriminations about the lack of commitment of each party to the agreement. It ended 21 / Q.

    http://www.albaghdadianews.com/politics

  8. #8
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    Re: The Dinar Daily, Thursday July 9, 2015

    Iraq announces the establishment of 133 foreign and national companies in month



    Thursday 09-07-2015 | 1:23:47

    Twilight News / announced the registration of companies in the Ministry of Commerce Department said Thursday that the cadres of the department completed the establishment of transactions (112) and a national company and (21) a foreign company during the month of June.

    The Director General of the Department Ferial Akram Abdullah in a statement responded to Twilight News, she said her district has issued several decisions regarding the amendment of contracts for companies distributed between capital increase and the integration of the accounts of the company and liquidation of company accounts.

    It added that 21 were registered representative office a foreign company and a foreign company registration 3 branch and documenting 114 companies registered and marking records and forwarding (424) company to Investigating Judge for violating the controls and Altalima.

    She Abdullah that the department has studied the final accounts of the number of national companies (2255) and the national company as well as the integration of the accounts of 51 companies and capital increase (51) company and a settling of accounts (8) companies and modify held 56 company and the study of the accounts of the offices and branches of foreign companies for (80 ) company.

    She explained about the ratification of the minutes of the circuit constituent meetings of listed companies during the period from 1/6 until 06/30/2015 of (142) in addition to the ratification of the minutes (40) a record of special meetings of the General Authority for joint stock companies.

    http://www.ara.shafaaq.com/18208

  9. #9
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    Re: The Dinar Daily, Thursday July 9, 2015

    Oil: exports for the first half of 2015 amounted to 529 million barrels



    July 9, 2015 14:08

    (Independent) ... Oil Ministry announced that the total oil exports for the first half of 2015 amounted to 529 million barrels, pointing out that 33 international companies bought Iraqi crude oil.

    The oil Sumo marketing company said in a statement received by (independent) ... on Thursday that "the total oil exports for 2015 amounted to 529.112 million barrels," noting that "the monthly export rate was 88.185 million barrels and an average of 2.923 million barrels per day ".

    The company "and added revenues generated from sales of crude oil amounted to 26 billion and $ 694 million at a rate of 4,449 billion dollars a month," noting that "the monthly sales of crude oil average rate of $ 913 and 49 cents."

    She said the company "33 global companies from different Asian and European and US multinational bought Iraqi oil."

    The global oil prices fell to below $ 60 per barrel, which weighed on Muiznat oil-producing countries, especially Iraq as a budget that relies 95% on oil exports. (End)

    http://www.mustaqila.com/news/163880.html

  10. #10
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    Re: The Dinar Daily, Thursday July 9, 2015

    Sumo: export more than half a billion barrels of oil since the beginning of 2015



    Thursday, July 9, 2015 12:21

    BAGHDAD / Baghdadi News / ... announced that the National Oil Company (SOMO) of the Ministry of Oil, on Thursday, for selling more than 529 million barrels Baward exceeded $ 26 billion in the first half of the year 2015.

    The Sumo in a statement seen by, / Baghdadi News /, that "the total oil exports for 2015 reached 529 million and 112 000 barrels," pointing out that "the monthly export rate of 88 million and 185 000 barrels, and at a rate of 2.923 million barrels per day" .

    The company said that "the income earned from crude oil sales amounted to 26 billion and $ 694 million, at a rate of four billion and 449 million dollars a month."

    She explained that "the monthly sales of crude oil price averaged $ 49 and 913 cents, and 33 global companies from various Asian and European and US multinational, bought Iraqi oil" .anthy 21 / N

    http://www.albaghdadianews.com/economy

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