Don961: Iran/Iraq ???? …. Seems I heard sumthin’ about those 2 characters on a recent cc ….
Like some announcement they want to share ….. ’bout agreements / partnerships …..
They already are joined at the hip ……. must stay tuned in to what they come up with ..
Dnari131: An Iranian trade delegation heads to Iraq
Mar 16 2016
Tehran / Head of the Chamber of Commerce in the city of Ahvaz Shahla Amuri announced that a delegation comprising of /50/ commercial Iranian businessmen headed today to the province of Basra.
Amuri said in an interview that the Iranian delegation, which is active in the field of food, Fisheries, Mines, technical, engineering services, drilling , oil , gas, and livestock will explain trade opportunities in Iran and also meets a number of Iraqi businessmen.
She added that Turkey is the strongest rival of Iran in Iraq, saying that Iran’s relations with Iraq is more durable than its relations with Turkey and could enhance competition with it in the export of technical and engineering services to Iraq.
It is worth mentioning that the value of Iran’s exports to Iraq in 2015 amounted to one billion and 400 million Dollar for exporting Iranian goods to Iraq.
http://www.zawya.com/story/An_…..witterfeed
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Doodlebug: PARLIAMENTARY FINANCE: FOREIGN CURRENCY AUCTION SALE “SAVIOR” OF THE Iraqi dinar
Economy News / Baghdad – Stressed the parliamentary Finance Committee member Jabbar al – Abadi, there are several positives auction sale of foreign currency at the central bank, among the measure as a savior of the Iraqi dinar.
Ebadi said in a press statement vassal \ “Economy News \”, that “the political CBI on foreign currency sale by auction is politically correct to offset the dollar ‘s exchange rate , ” adding that “if the dollar prices this procedure to have risen gradual weakening value purchasing power of the dinar, which means he saved the local currency from decayed in the previous period. ”
He added that ” the Central Bank unchanged institution if the rest of the institutions in the country where some cases of corruption and perhaps some default but this does not mean that his work failed completely it is a solid institution delineate the features of the Iraqi economy , which depends on it directly.”
He said some experts and specialists auction of the Central Bank to sell the currency as an outlet for waste of hard currency and a tool to win some of the financial and banking companies to the public interest expense.
While a member of the Finance Committee in Parliament MP Masood Haider pointed out earlier, that the Iraqi state does not benefit a bit of hard currency auction of the Central Bank nor the customs and taxes.–end.
LINK
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Don961: Sure it is CNBC …… The long line starts right over there …… There’s a shuttle bus that will drive you down to the end so you can join in ….
Dnari131: CNBC: Is it time to invest in Iraq?
Katy Barnato | @KatyBarnato
SHARESSome success in combating terrorist groups and a possible bottoming out of oil prices mean it could be time to invest in Iraq, analysts have said.
Iraqi bonds have made a partial recovery since January, but the market continues to price in an additional degree of risk, according to Alan Cameron, an economist at Exotix Partners. The boutique investment bank issued a “buy” alert on Iraqi benchmark U.S.-dollar 2028 bonds on Tuesday, following a “sell” notice back in September.
“It seems that an extra level of country risk is being embedded in Iraq specifically, perhaps because the market views its debt as unsustainable. Having once traded at only a small discount to other commodity exporters, the 2028s are now over 200 basis points wide of our basket,” Cameron said in a report.
On Tuesday, the 2028 eurobonds, which were issued in 2006, traded at a cash price of 66.57 cents to the dollar and yielded 12.55 percent, according to Cameron. That compares with an average yield of 8.98 percent for other oil-exporting sovereigns in Exotix’s universe.
The price of Iraq’s eurobonds reached an all-time low in December 2008 of around 42 cents to the dollar. More recently, the bond has made a partial recovery from a low of roughly 59 cents reached in mid-January 2016.
“The latest recovery mirrors a general trend across other Gulf-based assets, as oil prices seem to start reaching bottom levels,” Apostolos Bantis, an emerging market credit analyst at Commerzbank, told CNBC on Tuesday.
Symbol
Price
Change
%Change
Volume
OIL 37.57
1.23 3.38% 205825
BRENT 39.97
1.23 3.18% 129705
NAT GAS 1.842
-0.009 -0.49% 41530
RBOB GAS 1.4162
0.008 0.57% 9992
“Any further success with the military operations against terrorist militant groups in the northern part of the country, including liberation of Mosul and progress on the Syria peace talks, would be a positive catalyst and support further recovery on the Iraqi bond.”
Iraq’s economy is highly dependent on exporting crude oil, the price of which has fallen by more than 60 percent since mid-2014. However, prices have risen since falling below $30 per barrel in January and some analysts think prices will continue to gradually recover.
Furthermore, the International Monetary Fund may offer Iraq another aid program this year, as the country struggles with a rising debt burden and falling foreign exchange reserves. In January, Prime Minister Haider al-Abadi said Iraq hoped to secure $6 billion to $7 billion in loans from the fund, according to the Wall Street Journal.
Iraq’s economy slipped into recession in 2014 and grew by only 0.5 percent in 2015, according to the World Bank, hit by the deteriorating security and political situation and the slump in oil prices. In February, Standard & Poor’s said the Iraqi economy was weakening but affirmed its B-/B rating with a stable outlook.
alue” on Iraq’s 2028 eurobond was close to 75 with a yield of 10.6 percent.
“We think that an upward re-rating of this magnitude is consistent with Iraq’s fundamentals, even in a low oil price scenario; if the oil price were to continue rallying, the upside could be even more material,” he said.
http://www.cnbc.com/2016/03/16/is-it-time-to-invest-in-iraq.html
