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News & Comments 12-31-15

Navy looking readiness of its units to protect the exports and imports of Iraq’s economic[/size]

31/12/2015 01:06 | Direction Press / Baghdad

It examined the readiness of the leadership of the naval force units to protect the exports and imports of Iraq’s economic,


According to a statement of the Ministry of Defense received “direction Press” a copy of it today that “the commander of the naval force and coastal defense Admiral General Ahmed Jassim Qubool, toured inclusive of all naval units, including base or Marine Palace headquarters, marine brigade and a brigade of marine infantry, and the Presidency Gulf Arab Academy for Maritime Studies, Marine and college, and professional maritime training center,

and came round to determine the readiness of the units and to overcome the difficulties and dilemmas faced by its members during the performance of their duties.
The statement added that “the leadership of the naval force and coastal defense has made great achievements in Iraq water protection through a lot of contraband tuning, as well as meeting the arrest of many of the bands that try to abuse of Iraq’s economy and destroyed and that there is no difference between them and terrorist gangs”.

He pointed out that “Qubool also visited the oil port (port of Basra and the port of al-Amaya) to follow up the territorial waters and commercial ports Insurance (the port of Umm Qasr and Khor Al-Zubair) as well as the theater of operations in the Khawr Abd Allah has praised the significant role played by the Iraqi Navy to protect exports and imports Iraq economic.

http://aletejahtv.org/index.php/permalink/93106.html

[tlm724] the readiness of the leadership of the naval force units to protect the exports and imports of Iraq’s economic

[tlm724] the readiness of the units and to overcome the difficulties and dilemmas faced by its members during the performance of their duties.

[tlm724] ok this one ties into the tariffs providing protection at the ports and to protect the exports and imports of Iraq’s economy !! “the readiness of the leadership of the naval force units to protect the exports and imports of Iraq’s economic”

http://www.bondladyscorner.com/t159690-navy-looking-readiness-of-its-units-to-protect-the-exports-and-imports-of-iraq-s-economic

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Economist: Replace the currency of the positive benefits of Aaakhlu
12/31/2015 0:00  BAGHDAD – Imad emirate  adopt the monetary authority decision in the process of replacing the currency on the approach to costs and benefits, as a change of the Iraqi dinar and the deletion of zeros is an important step on the road to monetary reform,

and the reform of the currency management system through structured to control the flow and management of the cost of the money supply in a manner optimized using Model «Mosley» the most comprehensive, which does not stop at the borders of the costs and benefits but includes economic, social and political environment variables.

This is what started his speech by economist d. Abdul-Hussein Abdul Jalil Ghalibi »Sabah», pointing out: that the ideas can be raised in this area, from the process of deleting the zeros and replace currency terms would be too costly to the Iraqi economy and society, from the cost lawsuits and compensation, as well as cost support the economy during and after the the replacement process.

He stressed that no one denies that the process of changing the dinar require the costs to complete, but the discussion of these costs come from several directions, the first being that maintaining the dinar generates community ongoing costs in accounting fields and procedural counting, sorting, storage and others.

He said that these costs can be saved When you change currency and reduced to a minimum, and the second direction that is secreted by the costs is the issue of paper currency printed and punching the coin,

and here it can be said: The huge number currently in the Iraqi economy, which amounts to 4 billion paper needs to be replaced operations damaged leaves and shredded and consumed him .

And that old deliberative banknote no more than ten years, but it is in conditions of heavy use, as is the case in Iraq, which hit the currency rate in circulation to money supply which about 90 percent of the old could be up to five years.

He Ghalibi So These costs are already unspent along with the replacement will reduce the number of banknotes issued to the gain of 70 percent from the previous issue, and therefore the costs also will be reduced by more than this percentage because the old Deliberative new paper will be longer than the previous two reasons. First, the coins will reduce the burden to use it, and that large banknotes will be the speed to use less.

He said that the second reason is that the quality of the paper better and more tolerant than the current paper, which was issued in 2003, the mission of the developments that have occurred in printing money the field.

He continued: The reference to the cost of compensation and claims there is nothing to do with the process of replacement as well as support the economy cost also nothing to do with this, as the government support of economic activity is affected by the process of changing the currency because what determines the amount of support and direction is the government in the financial policies.

He explained Ghalibi Changing the currency and the deletion of zeros does not reduce the source of paper, and with the relevance of this opinion and his health, what taken it is that the currency (the dinar) does not stop the replacement limits of the same categories,

but will be Asaddarviat monetary larger so that the total number of papers will reach 1.18 billion paper instead of 4 billion paper, Mmaakhvd number of leaves significantly along with increase the range of categories used is not Top only, but from the bottom to issue coins.

http://www.alsabaah.iq/ArticleShow.aspx?ID=107297

[tlm724] He said that these costs can be saved When you change currency and reduced to a minimum, and the second direction that is secreted by the costs is the issue of paper currency printed and punching the coin

[tlm724] The huge number currently in the Iraqi economy, which amounts to 4 billion paper needs to be replaced operations damaged leaves and shredded and consumed him

[therealbubbie] and how long have they been saying this crap ! lol

[tlm724] therealbubbie lol  too long

[therealbubbie] crap … were getting closer !!

[tlm724] yeah we are

[tlm724] The reference to the cost of compensation and claims there is nothing to do with the process of replacement as well as support the economy cost also nothing to do with this, as the government support of economic activity is affected by the process of changing the currency because what determines the amount of support and direction is the government in the financial policies

[tlm724] so the costs associated with the replacement doesn’t matter at this point it must go forward because it is part of the currency reform policy

[tlm724] He explained Ghalibi Changing the currency and the deletion of zeros does not reduce the source of paper, and with the relevance of this opinion and his health, what taken it is that the currency (the dinar) does not stop the replacement limits of the same categories,

[tlm724] Changing the currency and the deletion of zeros does not reduce the source of paper

[tlm724] but will be Asaddarviat monetary larger so that the total number of papers will reach 1.18 billion paper instead of 4 billion paper,

[tlm724] the total number of papers will reach 1.18 billion paper instead of 4 billion paper

[tlm724] thats a 75% reduction in physical notes

[tlm724] number of leaves significantly along with increase the range of categories used is not Top only, but from the bottom to issue coins.

[tlm724] so not only replace the paper notes but take it to the bottom of the value range and re-introduce coins

[tlm724] gotta have value to use coins, just sayin…  it’s great to see this in the news now if we hear it from the CBI we’ll be cookin

http://www.bondladyscorner.com/t159715-economist-replace-the-currency-of-the-positive-benefits-of-aaakhlu
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Iraq is making a “standard” rates from the southern oil fields being strengthened “fastest” growing exporters Worlds Today at 6:34 am

Oil fields in Basra

Author: HAA   Editor: BK 2015/12/30 21:05

Long-Presse / Baghdad   Informed industry sources, on Wednesday, for enabling Iraq to achieve a “standard” export rates from the southern oil fields, during December, the current, usually that enhanced the role of Iraq as a “faster” oil exporters, growth in the global market during the year 2015 despite difficult conditions experienced as a result of his war against the (Daash) and anxiety of the possibility of blocking the low price growth rates of production.

The industrial sources of oil familiar with the data loading, in Ahlamah’s comments followed up (range Press), said that “oil exports from Iraq’s southern oilfields, reached through December, the current, to three million and 270 thousand barrels per average day,”

noting that “it is equivalent to almost Standard export rates through November 2015, which amounted to three million and 370 thousand barrels that promise high Iraqi officials and unprecedented. ”

They said those sources, that “Iraqi exports have achieved very high numbers, and they may exceed the maximum energy pipelines border.”

While Iraqi officials and oil experts predicted, that “Iraq’s oil exports growth rates increase during the next year in 2016 but at a slower pace than in the current year 2015”.

It is noteworthy that Iraq adopt an ambitious plan to increase its oil exports and regain its place in the global markets, as well as compensate the decline in imports as a result of falling oil prices.     LINK  

 [tlm724] “Iraqi exports have achieved very high numbers, and they may exceed the maximum energy pipelines border.”

While Iraqi officials and oil experts predicted, that “Iraq’s oil exports growth rates increase during the next year in 2016 but at a slower pace than in the current year 2015”.

It is noteworthy that Iraq adopt an ambitious plan to increase its oil exports and regain its place in the global markets, as well as compensate the decline in imports as a result of falling oil prices.

[tlm724] yeah baby

http://www.bondladyscorner.com/t159694-iraq-is-making-a-standard-rates-from-the-southern-oil-fields-being-strengthened-fastest-growing-exporters-worlds

 

Falling oil prices and invitations to activate the private sector and earnings transport the most prominent economic events during 2015 
Bridge civilizations commentator Nasiriyah downtown Imaging (Mahmoud Raouf)

Falling oil prices and invitations to activate the private sector and earnings transport the most prominent economic events during 2015

Author: ASJ, BS, HH    Editor: BK, BS, HH 2015/12/31 11:01

Long-Presse / Baghdad

Iraq’s economy did not differ in the year 2015 from its predecessor, which has not seen “quality developments” but witnessed several “crises” that have affected the rate of growth and the level of poverty, and reaffirmed the seriousness of its dependence on oil as a source of “quasi-single” income.
~~~

Oil: tumble in prices and production progress

What remains of the oil sector tops the lists of economic events, as in every year, but he saw in 2015, down a record compared to its predecessor, after losing nearly 60% of the price of the global market, from about 120 to less than $ 40 a barrel, which had a negative impact on economy Iraq, which depends on imports by more than the 95%, forcing the government to a “declaration of emergency” especially in the face of terrorism, and stumbled agreement entered into with the Kurdistan Regional Government.

The oil sector has faced a lot of problems during the year 2015, of which benefits the oil companies operating in Iraq, which has repeatedly threatened to pull out of the non-receipt of their financial dues.

However, the Oil Ministry has sought to increase production and export rates, we were able Basra Gas Company, to reduce the waste associated gas burned by an estimated 35%, with an increase of investment from 500 to nearly 850 million standard cubic feet (Mqmq) until the end of December.

One of the important events in the oil sector in 2015, the signing of Shell (tentative agreement) with the Ministry of Industry and Minerals, in the (28th of January), promised an “important first step” to the formation of a joint committee of management and start planning for the activities of future projects, including the construction of complex Petrochemical in Basra, valued at $ 11 billion, for the production of ethane gas.

Monetary and fiscal policy: expose corruption and the repercussions of declining value of the dinar

The Foundation campaign (range) to inform and culture and the arts, against corruption led by the documents deposited with Chairman of the Finance Committee late, Ahmad Chalabi, of the most prominent events in the financial sector where revealed smuggled money abroad as well as “shortening and ignore” some government agencies to that, but that judicial bodies and other regulators pledged to follow up those files, investigation, although it is not clear that any results so far.

The exposure of the financial sector to crises of several during 2015, including the decline in value of the dinar against the dollar, reaching its exchange rate to a thousand and 400 dinars, what raised the ire of the Iraqi street as a result of the repercussions on prices, especially that Iraq imports the majority of its needs from abroad,

which forced the Central Bank of Iraq to take the phrase measures to reduce the exchange rate, which undo the imposition of the eight tax% of the value of imports carried out by banks, and to provide facilities in the currency Foreign remittances auction as well as reduce the deposit amount of money for five days, to strengthen the position of the dinar against the dollar.

To boost the economy in the country, the Central Bank of Iraq gave six trillion and 500 billion dinars, to the banks of sectoral (industrial, agricultural, real estate) and housing fund, and private banks, to encourage small and medium enterprises.

But the central bank issue, a new currency of the fifty thousand dinars category, infuriated the Iraqi street, where counting specialists that it will lead to greater deterioration of the value of the local currency and increase inflation, although they come between the bank to support the economy.

The Cabinet approved, in December 2015, the registration of the Islamic Bank of Mesopotamia, in the Department of the Registrar of Companies in the Ministry of Commerce (public companies), the capital of more than 130 billion dinars, according to the provisions of articles (3,4,5) of the General Companies Law No. ( 22) of 1997 as amended.

2015 saw the Third Banking Conference, which brought together a group of Iraqi private and government banks, and other Arab, and slice Chierweijn, where the conference came out to support the recommendations of the Iraqi economy and the banking sector.

On the 16th of September 2015 House of Representatives voted on Money Laundering Act, which the central bank said it will provide the legal framework for the banking sector almost in line with international standards.

It was agreed the central bank with one of the largest global companies to seek gold bullion from the weights (5.10, 15.20, 25 and 50) g, 24 carat, and put up for sale, have been identified selling price based on the cost and out of Baghdad International Airport, plus administrative uploads by one percent.

Communications: compete feverishly for the fourth mobile license

Hauled the subject of the fourth mobile license on an exceptional interest in the telecommunications sector during 2015, especially after the conflict between the CMC and the Ministry of Communications, in particular that the Commission expects to sell about three billion dollars.

The diminished opportunity and the Ministry of Communications for a license that, after the Council of Ministers authorized the CMC to act on them under the law, which will hopefully put in the auction, has been engaged by the ministry.

On the other developments in the sector, the Ministry of Communications contracted with the company “Ericsson Swedish” to create a force optic network with a capacity of 150 A-line operating optical cable technology for home (FTTH).

Let’s face the repercussions of the financial crisis, the Ministry of Finance collects sales tax of 20%, on the shipment of mobile phones cards, despite opposition CMC and citizens.

2015 saw the establishment of Zain and Asia Cell for mobile phones launched nearly a quarter of their shares for trading on the Iraq Stock Exchange.

Transportation: real profits and international sanctions

It seems that the Ministry of Transport had been “front-runner” during the year 2015, because of the size of the profits made by companies, such as lines of the Iraqi Air and private transport, road transport, ports, he faced “serious obstacles” most notably the international sanctions on Iraqi Airways.

Has global civil aviation authority of the Council decided (IATA) put Iraqi Airways in the “black list” and prevent them from flying in European airspace because of the lack of commitment to the conditions and international standards, particularly related to safety.

Also faced Airlines, stiff competition from a company (Fly Baghdad) fledgling, which was established during 2015, and the aircraft entered the market a new Arab and regional lines.

The ministry’s private transportation company, revealed in June 2015, on the allocation of 140 billion dinars to implement a number of projects in the provinces of Baghdad, Karbala, Najaf, Maysan, Muthanna, Dhi Qar, Diwaniyah, but it faced a lot of problems because of the lack of the necessary land allocation.

He launched the ministry (Baghdad taxi) as an investment project implemented by travelers and public delegations transport company, in collaboration with a private company, which provided the last 505 cars to transport the citizen from his house to the Baghdad International Airport or the global leg of the railway, and it is hoped the project applied in Basra the beginning of 2016.

In (23 December 2015), announced Transport Minister, Bayan Jabr, on the transfer of the implementation of the project port of Faw to Basra Holding Company, confirmed reduce the amount of the project to one billion 300 million dollars, at a time when the province of Basra management indicated that the company is executing the project will offer 51 % of its shares to the population of the province.

Iraq’s budget: austerity and external solutions

We have achieved the Iraqi Council of Representatives, a precedent when it was able to approve the federal budget before the end of the year 2015, for the first time after 2003, the rate of 105.8 trillion dinars, by revenue of $ 81 trillion dinars, and expenses of 105 trillion dinars, and the export price for oil of $ 45 a barrel, and the amount of export 3.6 million barrels per day, and a deficit of 25.7 trillion dinars.

It included the budget year 2016 a lot of “surprises” her not to include functional scores or investment projects, as well as the fiscal deficit is difficult to coverage under the current expenditure, which prompted the government to think seriously to resort to external solutions such as issuing bonds or borrowing opposed by many parties including parliamentary , specialists warn of its consequences.

Electricity: a chronic deficit and hopes of prospective investment and privatization

If electricity continued degradation and provoke popular discontent, as in previous years, where justified by the Ministry of Electricity that lack of allocations and the loss of an important potential obstetric due to military operations in the areas controlled by the organization (Daash) as well as damage to transmission and distribution networks components.

But the ministry announced the implementation of new projects and entered the service station Alhaidariya in the province of Najaf, which was funded by the Iranian grant, card 160 MW, as well as carbonated Maysan station in the province of Maysan, a capacity of 500 megawatts, the station Diwaniyah gas capacity of 500 MW.

The ministry plans to implement a project smart “Iromuatr” standards during 2016, in Baghdad and the provinces, with plans to set up 110 thousand scale.

The ministry also believed in the need to go for investment and privatization to solve the electricity crisis, which has been divided Baghdad and the provinces to the 180 region will be awarded to investors service contracts working to provide service to the citizen and the collection of wages, as well as the investment of the production sector have been allocated 19 locations in plants to increase production capacity.

Although the ministry confirms that the production has increased up to 3000 MW in the year 2015, but they complain about the loss of up to 4000 MW as a result of the effects of the war against (Daash).

And, like the Ministry of Electricity and complaining of lack of financial allocations, as it confirms that received more than ten percent of the allocations identified during 2015, although they make up only 30% of its needs.

Agriculture: terrorism and indiscriminate import hamper the dream of self-sufficiency

At the level of the agricultural sector dreams of self-sufficiency remain outstanding, as a result of the loss of important spaces “usurped” by organizing Areas (Daash), and random import.

The Ministry of Agriculture has sought to intensify their efforts in the central and southern governorates to make up for that shortfall, by focusing on strategic crops, especially wheat, which were planted 500 thousand acres of the total one million and fifty thousand were suited to cultivation, as well as encouraging the cultivation of senior and adoption of modern irrigation methods , to cover 80% of the need of the ration card.

The ministry has encouraged the cultivation of vegetables using greenhouses and poultry projects, and managed to achieve a “breakthrough” in the fish farming and introduced a floating cages Technology in collaboration with the FAO, the International Organization.     LINK

 [tlm724] just want to point out a few things here

[tlm724] including the decline in value of the dinar against the dollar, reaching its exchange rate to a thousand and 400 dinars, what raised the ire of the Iraqi street as a result of the repercussions on prices

[tlm724] now if that raised the ire of the Iraqi people imagine what the cost increase from tariffs will do

To boost the economy in the country, the Central Bank of Iraq gave six trillion and 500 billion dinars, to the banks of sectoral (industrial, agricultural, real estate) and housing fund, and private banks, to encourage small and medium enterprises.

But the central bank issue, a new currency of the fifty thousand dinars category, infuriated the Iraqi street, where counting specialists that it will lead to greater deterioration of the value of the local currency and increase inflation, although they come between the bank to support the economy

[tlm724] But the central bank issue, a new currency of the fifty thousand dinars category, infuriated the Iraqi street

[tlm724] infuriated the Iraqi street

[tlm724] where counting specialists that it will lead to greater deterioration of the value of the local currency and increase inflation

[tlm724] my point is this, the CBI really has to tread lightly here, their every move is being scrutinized by the people, the regular people who toil day after day just to survive

[tlm724] tariffs equal less spending power !

[tlm724] less spending power creates chaos

[tlm724] soooo add a lil value and lets float this thingy down the river

[therealbubbie] just float it rv it or what ever and stop all the bull talk !!

http://www.bondladyscorner.com/t159695-falling-oil-prices-and-invitations-to-activate-the-private-sector-and-earnings-transport-the-most-prominent-economic-events-during-2015
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Arab Iraqi dinar exchange rate for Thursday December 31, 2015
Economy and Tenders
Since 12.31.2015 at 09:58 (GMT Baghdad)   BAGHDAD – scales News

1 Egyptian Pound = 140.5777 dinars
1 Iraqi Dinar = 0.0071 Egyptian Pound
1 SR = 293.2584 dinars
1 Iraqi Dinar = 0.0034 SAR
1 AED = 299.6858 dinars

1 Iraqi Dinar = 0.0033 AED
1 SDG = 178.6504 dinars
1 Iraqi Dinar = 0.0056 Sudanese pounds
DA 1 = 10.2799 Iraqi dinars
1 Iraqi Dinar = 0.0973 dinars
1 BD = 2,922.8334 Iraqi dinars
1 Iraqi Dinar = 0.0003 BD
1 JD = 1,553.0579 Iraqi dinars
1 Iraqi Dinar = 0.0006 JD
1 KD = 3,626.1231 Iraqi dinars
1 Iraqi Dinar = 0.0003 KD
1 LP = 0.7290 Iraqi Dinar
1 Iraqi Dinar = 1.3718 LP
NIS 1 = 282.0586 dinars
1 Iraqi Dinar = 0.0035 NIS
1 LD = 791.5067 dinars
1 Iraqi Dinar = 0.0013 LD
Moroccan Dirham 1 = 111.1744 dinars
1 Iraqi Dinar = 0.0090 Moroccan dirhams
1 UM = 3.5535 Iraqi Dinar
1 Iraqi Dinar = 0.2814 UM
1 LS = 4.9966 Iraqi Dinar
1 Iraqi Dinar = 0.2001 LS
1 Somali Shilling = 1.7728 Iraqi Dinar
1 Iraqi Dinar = 0.5641 Somali Shilling
RO 1 = 2,858.6753 Iraqi dinars
1 Iraqi Dinar = 0.0003 RO
QR 1 = 302.2154 dinars
1 Iraqi Dinar = 0.0033 QR
1 TND = 543.1123 dinars
1 Iraqi Dinar = 0.0018 Tunisian dinars
1 YR = 5.1191 Iraqi Dinar
1 Iraqi Dinar = 0.1953 YR
1 = 6.1949 francs Djibouti Iraqi dinars
1 Iraqi Dinar = 0.1614 francs Djibouti

LINK

{tlm724]  ((50k note))

http://www.bondladyscorner.com/t159705-arab-iraqi-dinar-exchange-rate-for-thursday-december-31-201550k-note