Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
They just cost more to get. But are going to be easier to cash in when/if we hit. Instead of trying to figure out what to do more than 10K US funds cash on you after cashing your Dinar. When/If we hit up that high that you might want to avoid any red flags by any financial intitution that are raised if you have more than 10K US funds deposited into your account, and makes it so you dont have to walk arround with more than 10K on your person at one time. That is a no, no as well. Those are a couple reasons why some of us were going for the smaller Demons.
Trav.
Mine came today. From my order (COD) back on the 9th. That was suppose to ship on the 13th with 5's, but was shipped with 25's instead, I returned them and the 5's were then suppose to be shipped back to me last week, but were over looked, then were going to be shipped out this comeing tuesday, ..., ..., then I just said forget it, send 10's then. I just could not afford to wait longer. So....the 10's came today. Yeah, he's a bit busy, he said he gets about 200 calls a day. The Demons looked great though, some looked barely touched at all, if at all.
As I said on the DONG board before, 'Someday, we can all look back on this and laugh'.
This is just a heads up that Ali is indeed busy, so you might have to be patient with orders placed with him. The quality of product recieved was still outstanding, it just to awhile took get here.
Trav.
THE HELL WITH OIL....THEY HAVE BEER NOW.
BWAAHAHAAAAAAAAAA
Trav.
VBL acquires two Foster beer plants
08:22' 22/03/2007 (GMT+7)
VietNamNet Bridge - The Vietnam Brewery Ltd (VBL) Wednesday received the announcement about the implementation of formalities to acquire two Foster beer plants in Da Nang and Tien Giang from the Singapore-based Asia Pacific Breweries (APB).
An official of VBL revealed that the transfer worth US$98.5 million has been approved by APB Australia Pty Ltd., a member of APB and the major owner of the two above breweries. The two sides now need to complete related formalities only.
With the two new breweries, VBL will be the producers and distributors of Tiger, Heineken, Foster, Larue, BGI, Flag, Orangina and Song Han products in Vietnam.
Last August, Australia’s Foster Group Ltd decided to sell its breweries in Vietnam to APB at the price of US$105 million.
APB is a joint venture between Singapore’s Fraser & Neave Ltd and Amsterdam-based Heineken Beer Company. It is also an investor of VBL, a joint venture with the Sai Gon Trading Corporation of HCM City.
David Teng, General Director of VBL said that VBL confirms its long-run strategy in Vietnam with the two new breweries in Da Nang and Tien Giang.
Last year VBL ranked second among top ten companies that pay the highest taxes to the state budget with VND2,140 billion ($133.75 million).
(Source: Tien Phong)
Friday, March 23, 2007
1 Vietnamese Dong = 0.00006376 US Dollar
1 US Dollar (USD) = 15'685.0 Vietnamese Dong (VND)
Median price = 0.00006135 / 0.00006376 (bid/ask)
Minimum price = 0.00006024 / 0.00006246
Maximum price = 0.00006240 / 0.00006525
Friday, March 23, 2007
25'000'000 Vietnamese Dong = 1593.88 US Dollar
25'000'000 US Dollar (USD) = 392123909500 Vietnamese Dong (VND)
Median price = 0.00006135 / 0.00006376 (bid/ask)
Minimum price = 0.00006024 / 0.00006246
Maximum price = 0.00006240 / 0.00006525
Friday, March 23, 2007
50'000'000 Vietnamese Dong = 3187.77 US Dollar
50'000'000 US Dollar (USD) = 784247819000 Vietnamese Dong (VND)
Median price = 0.00006135 / 0.00006376 (bid/ask)
Minimum price = 0.00006024 / 0.00006246
Maximum price = 0.00006240 / 0.00006525
New oil field found offshore Vung Tau
10:26' 22/03/2007 (GMT+7)
VietNamNet Bridge - Thang Long Joint Operating Company (Thang Long JOC) on March 21 announced to discover a new oil field at White Rhino structure in the 15-2/01 block offshore Vung Tau.
According to Nguyen Van Tam, Administrative and Personnel Manager of Thang Long JOC, the new oil field is at the depth of 2,640-2,700m compared to the sea level. Initial surveys show that it can yield around 5,000 barrels a day.
This is the second in the past four months Thang Long JOC discovering new oil fields.
This year the company will drill three more exploratory wells at other structures to evaluate the oil and gas potential of the 15-2/01 block.
(Source: TN)
Vietnam - economy to be reckoned with
08:42' 22/03/2007 (GMT+7)
VietNamNet Bridge - The vitality of the Vietnamese economy and its superb growth rates are making Vietnam an economic force to be reckoned with.
HSBC Holdings Plc Chief Executive Mike Geoghegan made the remark at the Vietnam Investment Forum held in Ha Noi on March 19-20, adding that that is why so many people have come to attend the forum.
More than 1,000 investors and representatives from organisations, groups, financial funds and companies from all over the world gathered in Hanoi for the forum, which focused on issues related to Vietnam's accession to the World Trade Organisation (WTO), its impacts on the country's economy, particularly the banking sector and capital market, including the stock market.
Almost all speakers acknowledged the strong development of the Vietnamese capital market with its total value reaching 14 billion USD, representing 22.4 percent of the country's GDP.
They agreed that the growing stock market has helped drive the expansion of the capital market. Economists at the forum said that although hot at the moment, the stock market is yet to face the risk of developing into a bubble that could burst at any time.
According to Kenvin Snowball, Director of the PXP Vietnam Asset Management Co. Ltd, there would be an adjustment of 10-15 percent in the long run, and such a bubble, if any. would only occur in 6-12 months.
The stock market's growth also has its impacts on the monetary market.
Opinions at the forum suggested that the Vietnamese government increase supply in order to quench the thirst of investors, step up the equitisation process of State-owned enterprises, and remove barriers for foreign investors.
A transparent legal framework and institution for the banking-financial sector, well-performing systems of transport, electricity and telecommunications are also necessary for the economic development, they suggested.
http://english.vietnamnet.vn/biz/2007/03/676080/
Where's the pause button?
I'm still reading March 21st post about 19 pages back. :p
Trav.
Agreed, and the nice thing with the investing into the currency is that you dont have to sit arround and wait for a PR for the PPS to go up. No shorting, no halts, no MM's, no EOD run, no chaseing it, no Certs, no getting up at 4am, no reading charts all night, no watching those LII's.
Just sit back and relax for the most part. Just work on your exit plans while waiting for them to pop. And go spend more time with family.
Trav.
PS, although I am selling some stock to buy more, but thats what investments are for, selling when you want to, for more investments or whatever you need.
As long as the price is still locked in after my order is placed, its all good. I have enough now to tie me over incase it does pop dureing that 6 to 8 weeks.
Trav.
Im more than likely done with buying the Dinars. Im sitting fine with them, or at least will be when my last order gets to me from Ali. Hes been a bit busy to say the least.
Ill order more of the DONG after Monday, Tuesday at the latest. This time Ill go through Wells Fargo again, I like being able to receive my money and take it right to my safe deposit box. Just wish they would shop them out in something besides the 100K notes, with Wells Fargo, you cant ask for what you want, you just get them in what ever they send them to you. From what i was told last time I dealt with them anyways. But that time it only took about 4 days to get in as well. lol.
Trav.
Its gett'en there, back on March 02 it was 1/16002
Posted by: Zoinkers
In reply to: None Date:3/3/2007 2:32:11 AM
Post #of 313
Friday, March 02, 2007 USD / VND
1000000 Vietnamese Dong(s) = 62.4922 US Dollar(s)
1 USD = 16002 VND
1 VND = 6.24922e-05 USD
Man, what to buy, what to buy, what to buy....more DINAR, some ISX, (when we can) more VND. It all looks good.
Trav.
The smell is getting worse and worse with every order. We must have gotten to the bottom of the barrle. Pretty soon we'll just have to toss them in the laundry with a load of gym socks to make them smell better. LMAO.
My pleasure, gald to be of assistance.
Trav.
Up top, click 'tools' then 'ignor list' then select memeber that is ignored, and just click, 'un hide'
Hope it helps.
Trav.
Why cant we have the name of the spy?
Trav.
Cant tell what the subscription price is. The return Email from them had the brackets outlineing the price, but the font they used did not show up on my PC, or they forgot to put it in. LOL. Anyways, here is the reply. Ill keep you posted as to what the price is when I receive yet another Email in return lettting me know what was suppose to be in those brackets.
///////////////////////////////////////////////////////////
We would like to express our delight at your request to join NINA news service beneficiaries.
Subscription to NINA news service requires signing a subscription contract for one year (or less) and paying a subscription fee ( ) per month (three months payment in advance)
The fee to be defined according to a subscriber type (TV chenille, Brodocasting, Newspaper, Organization…act)…so could you tell us more about you please?
Monday, March 19, 2007
Best regards,
Yaser M.AL-Saji
Marketing dept.
National Iraqi News Agency/NINA
Office: 00964-1-7193459
Mobile: 00964-7904-270-907
E-Mail:subscription@ninanews.com,
yaseralsaji@hotmail.com
I Emailed them Yesterday to find out how to subsuscribe to there newsletter, but I have not heard anything back from them yet. We have a couple post in here from the same location that could use the ending of the article.
Trav.
I couldnt get it either, you have to be a member.
News postings from this board for the week.
If it works, we'll try it again next weekend.
Trav.
/////////////////////////////////////////////////////////////////
Posted by: c a
In reply to: None Date:3/17/2007 2:49:04 PM
Post #of 5225
CBI adopts fixed ID exchange rate
--------------------------------------------------------------------------------
CBI adopts fixed ID exchange rate
Baghdad (NINA)- The Central Bank of Iraq CBI has announced adopting the exchange rate of Iraqi Dinar against the US Dollar, settled on last Thursday’s auction until March 19. A CBI statement said Saturday that the measure came within the previously adopted measures, aiming at boosting Iraqi Dinar...
http://www.ninanews.com/ninaII/indexeng.php
__________________
Sources at the Central Bank told the nation »« that this policy will continue until the Iraqi dinar thrive and become the preferred currency in daily dealings. With those sources expressed its confidence in achieving this policy even finishing off phenomenon (dollarization).
////////////////////////////////////////////////////////////////
Posted by: waterfowler
In reply to: None Date:3/15/2007 10:23:44 PM
Post #of 5225
Al-Maliki tells aides U.S. benchmark deadline is June 30 or his ouster possible
The Associated PressPublished: March 13, 2007
BAGHDAD: Prime Minister Nouri al-Maliki fears the Americans will withdraw support for his government — effectively ousting him — if parliament does not pass a draft oil law by the end of June, close associates of the Iraqi leader told The Associated Press on Tuesday.
The legislature has not even taken up the draft measure for a fair distribution of the nation's oil wealth — only one of several U.S. benchmarks that are now seen by al-Maliki, a hardline Shiite, as key to continued American support for his troubled government.
Beyond that, the al-Maliki associates told AP, American officials have informed the prime minister they want an Iraqi government in place by year's end that would be acceptable to Iraq's Sunni Arab neighbors, particularly Saudi Arabia, Jordan and Egypt.
"They have said it must be secular and inclusive," one al-Maliki associate said.
To that end, al-Maliki made an unannounced visit Tuesday to Ramadi, the Sunni insurgent stronghold, to meet with tribal leaders, the provincial governor and security chiefs in a bid to signal his willingness for reconciliation to end the bitter and bloody sectarian war that has riven Iraq for more than a year.
Today in Africa & Middle East
Hamas and Fatah agree on unity government
A new face of Al Qaeda emerges in Lebanon
U.S. troops to fan out into 100 garrisons to secure Baghdad
For its part, the U.S. military is speaking with great optimism about its efforts to turn Sunnis in volatile Anbar province away from the insurgency and its al-Qaida in Iraq allies.
Compounding al-Maliki's fears about a withdrawal of American support were visits to Saudi Arabia by two key political figures in an admitted bid to win support for a major Iraqi political realignment. Saudi Arabia is a major U.S. ally and oil supplier.
Former Prime Minister Ayad Allawi, a Shiite, arrived in the Saudi capital Tuesday. Masoud Barzani, leader of Iraq's largely autonomous Kurdish region, flew in a day earlier. Most Kurds are Sunni Muslims.
"Allawi is there to enlist support for a new political front that rises above sectarian structures now in place," the former prime minister's spokesman Izzat al-Shahbandar told AP.
Barzani spokesman Abdul-Khaleq Zanganah said the two had met in Kurdistan before traveling to Saudi Arabia for talks on forming a "national front to take over for the political bloc now supporting al-Maliki."
It appears certain that the United States was informed about the Allawi and Barzani opening to the Saudis, who are deeply concerned that al-Maliki could become a puppet of Iran, the Shiite theocracy on Iraq's eastern border. Tehran is seen as a threat to stability among the long-standing Sunni regimes throughout most of the Arab world and deeply at odds with the United States over Iran's nuclear program and policy toward Israel.
Washington has been reported to be working more closely with Sunni Arab governments to encourage them to take a greater role in Iraq, particularly in reining in the Sunni insurgency that has killed thousands of U.S. soldiers and tens of thousands more Iraqi Shiites.
Washington was believed to be trying to win support for its mission in Iraq among the country's Arab neighbors by assuring a greater future role for the Sunni minority that ran the country until the U.S. invasion ousted Saddam Hussein.
One al-Maliki confidant said the Americans in Baghdad had voiced displeasure with the prime minister's government even though he has managed so far to blunt major resistance from the Mahdi Army, the Shiite militia, to the joint U.S.-Iraqi security operation in the capital and its environs. The militia is the military wing of the political organization run by anti-American Shiite cleric Muqtada al-Sadr, whose political backing secured the premiership for al-Maliki.
"They have said they are frustrated that he has done nothing to oust the Sadrists, that the oil law has not moved forward, that there is no genuine effort on reconciliation and no movement on new regional elections," said the official on condition of anonymity because he was not authorized to release the information.
Passage of the oil law, which seeks a fair distribution of revenues among all Iraq's sectarian and ethnic groups, has become a major issue for the United States, which had initially counted on financing Iraq's post-invasion reconstruction with oil revenues.
But the decrepit oil infrastructure and violence have left the country producing oil at about the same levels as before the war, at best, and those figures are well below production before the first Gulf War which resulted in U.N. sanctions against the Iraqi oil industry.
The major Sunni bloc in parliament along with Allawi loyalists in the Shiite bloc are openly opposed the draft oil measure as drafted. Al-Maliki also has lost the backing of the Shiite Fadila Party, and independent Shiite members are split on the bill.
///////////////////////////////////////////////////////////
Posted by: nid4u
In reply to: None Date:3/15/2007 5:58:57 AM
Post #of 5225
Chase's Fee After Reval - 1% of the currency !!!
--------------------------------------------------------------------------------
Bought some more dinar b/c it appears that the reval is close potentially. When asking the manager about the dinar and exchanging the dinar back [after it potentially revals], she said the following:
1) We will exchange the dinars for dollars for 1% of the value. She said this is the typical fee that we charge in currency exchanges. If you have 1 million dinars [for example] and the reval is a 1-1, chase will charge a $10,000 fee to exchange [e.g. $1,000,000 x .01 = $10,000].
2) When asking her about the tax implications, she said we won't take out taxes but that is something you need to talk to a professional about....should...if ...you need to claim it.
Parliament cancels hearing statements (Voices of Iraq)
--------------------------------------------------------------------------------
Iraqi parliament agreed on Wednesday to temporarily cancel the hearing of members’ statements and postponed the session to Thursday.
Read the entire article at IraqiUpdates.com
Sunday, March 11, 2007; Page B07
A front-page story in The Post last week suggested that the Bush administration has no backup plan in case the surge in Iraq doesn't work. I wonder if The Post and other newspapers have a backup plan in case it does.
Leading journalists have been reporting for some time that the war was hopeless, a fiasco that could not be salvaged by more troops and a new counterinsurgency strategy. The conventional wisdom in December held that sending more troops was politically impossible after the antiwar tenor of the midterm elections. It was practically impossible because the extra troops didn't exist. Even if the troops did exist, they could not make a difference.
Four months later, the once insurmountable political opposition has been surmounted. The nonexistent troops are flowing into Iraq. And though it is still early and horrible acts of violence continue, there is substantial evidence that the new counterinsurgency strategy, backed by the infusion of new forces, is having a significant effect.
Some observers are reporting the shift. Iraqi bloggers Mohammed and Omar Fadhil, widely respected for their straight talk, say that "early signs are encouraging." The first impact of the "surge," they write, was psychological. Both friends and foes in Iraq had been convinced, in no small part by the American media, that the United States was preparing to pull out. When the opposite occurred, this alone shifted the dynamic.
As the Fadhils report, "Commanders and lieutenants of various militant groups abandoned their positions in Baghdad and in some cases fled the country." The most prominent leader to go into hiding has been Moqtada al-Sadr. His Mahdi Army has been instructed to avoid clashes with American and Iraqi forces, even as coalition forces begin to establish themselves in the once off-limits Sadr City.
Before the arrival of Gen. David Petraeus, the Army's leading counterinsurgency strategist, U.S. forces tended to raid insurgent and terrorist strongholds and then pull back and hand over the areas to Iraqi forces, who failed to hold them. The Fadhils report, "One difference between this and earlier -- failed -- attempts to secure Baghdad is the willingness of the Iraqi and U.S. governments to commit enough resources for enough time to make it work." In the past, bursts of American activity were followed by withdrawal and a return of the insurgents. Now, the plan to secure Baghdad "is becoming stricter and gaining momentum by the day as more troops pour into the city, allowing for a better implementation of the 'clear and hold' strategy." Baghdadis "always want the 'hold' part to materialize, and feel safe when they go out and find the Army and police maintaining their posts -- the bad guys can't intimidate as long as the troops are staying."
A greater sense of confidence produces many benefits. The number of security tips about insurgents that Iraqi civilians provide has jumped sharply. Stores and marketplaces are reopening in Baghdad, increasing the sense of community. People dislocated by sectarian violence are returning to their homes. As a result, "many Baghdadis feel hopeful again about the future, and the fear of civil war is slowly being replaced by optimism that peace might one day return to this city," the Fadhils report. "This change in mood is something huge by itself."
Apparently some American journalists see the difference. NBC's Brian Williams recently reported a dramatic change in Ramadi since his previous visit. The city was safer; the airport more secure. The new American strategy of "getting out, decentralizing, going into the neighborhoods, grabbing a toehold, telling the enemy we're here, start talking to the locals -- that is having an obvious and palpable effect." U.S. soldiers forged agreements with local religious leaders and pushed al-Qaeda back -- a trend other observers have noted in some Sunni-dominated areas. The result, Williams said, is that "the war has changed."
It is no coincidence that as the mood and the reality have shifted, political currents have shifted as well. A national agreement on sharing oil revenue appears on its way to approval. The Interior Ministry has been purged of corrupt officials and of many suspected of torture and brutality. And cracks are appearing in the Shiite governing coalition -- a good sign, given that the rock-solid unity was both the product and cause of growing sectarian violence.
There is still violence, as Sunni insurgents and al-Qaeda seek to prove that the surge is not working. However, they are striking at more vulnerable targets in the provinces. Violence is down in Baghdad. As for Sadr and the Mahdi Army, it is possible they may reemerge as a problem later. But trying to wait out the American and Iraqi effort may be hazardous if the public becomes less tolerant of their violence. It could not be comforting to Sadr or al-Qaeda to read in the New York Times that the United States plans to keep higher force levels in Iraq through at least the beginning of 2008. The only good news for them would be if the Bush administration in its infinite wisdom starts to talk again about drawing down forces.
http://www.washingtonpost.com/wp-dyn...030901839.html
__________________
Yesterday was history,
Tomorrow is a mystery,
from another board
////////////////////////////////////////////////////////////////
Posted by: RJ Trotts
In reply to: D-Block who wrote msg# 5114 Date:3/14/2007 2:18:34 PM
Post #of 5225
Baghdad security crackdown seriously curbs killings of US soldiers, violence down 80%
http://www.kuna.net.kw/Home/Story.as...en&DSNO=961365
MIL-IRAQ-US SOLDIERS
Baghdad security crackdown seriously curbs killings of US soldiers
BAGHDAD, March 14 (KUNA) -- The rate of killings of US troops in Iraq has been on the decline, down by 60 percent, since the launch of the new security measures in Baghdad, according to statistics revealed by the Multi-National Force -Iraq Combined Press Information Centre.
Only 17 members of the US military in Iraq have been killed since February 14 till March 13, compared to 42 from January 13 to February 13; the rate was on the decline during the first month of the security crackdown, compared to a month before.
Two of the 17 soldiers died at US Baghdad camps of non-combat causes.
The remarkable decrease in killings among the US troops came at a time when more of these troops were deployed in the Iraqi capital, especially in districts previously regarded as extremely hazardous for them such as Al-Sadr City, Al-Azamiyah, and Al-Doura.
Meanwhile, US attacks on insurgent strongholds north of Baghdad curbed attacks against helicopters. Before the new security plan, many such craft were downed leaving 20 soldiers dead.
The US army in Iraq had earlier said that sectarian fighting and violence in Baghdad had dropped sharply, by about 80 percent, since the launch of the plan.
//////////////////////////////////////////////////////////
Posted by: nid4u
In reply to: None Date:3/13/2007 7:56:26 PM
Post #of 5225
Iraqi leader fears ouster over oil money
1 hour, 43 minutes ago
BAGHDAD - Prime Minister Nouri al-Maliki fears the Americans will torpedo his government if parliament does not pass a law to fairly divvy up the country's oil wealth among Iraqis by the end of June, close associates of the leader told The Associated Press on Tuesday.
The legislature has not even taken up the draft measure, which is only one of several U.S. benchmarks that are seen by al-Maliki as key to continued American support, a crucial need for the survival of his troubled administration.
Aside from the oil law, the associates said, American officials have told the hardline Shiite Muslim prime minister that they want an Iraqi government in place by year's end acceptable to the country's Sunni Arab neighbors, particularly Saudi Arabia, Jordan and Egypt.
"They have said it must be secular and inclusive," one al-Maliki associate said.
To that end, al-Maliki made an unannounced visit Tuesday to Ramadi, the Sunni Arab insurgent stronghold, to meet with tribal leaders, the provincial governor and security chiefs in a bid to signal his willingness for reconciliation to end the bitter sectarian war that has riven
Iraq for more than a year.
Compounding al-Maliki's fears about a withdrawal of American support were visits to Saudi Arabia by two key political figures in an admitted bid to win support for a major Iraqi political realignment. Saudi Arabia is a major U.S. ally and oil supplier.
Former Prime Minister Ayad Allawi, a Shiite Muslim, flew to the Saudi capital Tuesday, a day after the arrival there of Masoud Barzani, leader of Iraq's largely autonomous Kurdish region. Most Kurds are Sunni Muslims.
"Allawi is there to enlist support for a new political front that rises above sectarian structures now in place," the former prime minister's spokesman, Izzat al-Shahbandar, told the AP.
Barzani spokesman Abdul-Khaleq Zanganah said the two Iraqis met in Kurdistan before the trip for talks on forming a "national front to take over for the political bloc now supporting al-Maliki."
It appears certain the United States was informed about the Allawi and Barzani opening to the Saudis, who are deeply concerned that al-Maliki could become a puppet of
Iran, the Shiite theocracy on Iraq's eastern border they view as a threat to the region's stability.
Washington has been reported working more closely with Sunni Arab governments to encourage them to take a greater role in Iraq, particularly in reining in the Sunni insurgency that has killed thousands of U.S. soldiers and tens of thousands of Iraqi Shiites.
The Bush administration is believed to be trying to win support for its operations in Iraq among Arab neighbors by assuring a greater future role for the Sunni minority that ran the country until the U.S. invasion ousted
Saddam Hussein four years ago.
One al-Maliki confidant said the Americans had voiced displeasure with the prime minister's government even though he has managed so far to blunt major resistance from the Mahdi Army militia to the joint U.S.-Iraqi security operation in Baghdad. The Shiite militia is loyal to anti-U.S. cleric Muqtada al-Sadr, whose political backing secured the premiership for al-Maliki.
"They have said they are frustrated that he has done nothing to oust the Sadrists, that the oil law has not moved forward, that there is no genuine effort on reconciliation and no movement on new regional elections," said the official, who like the other associates agreed to discuss the situation only if not quoted by name because of the political sensitivities.
Passage of the oil law, which seeks a fair distribution of revenues among all Iraq's sectarian and ethnic groups, has become a major issue for the United States, which had initially counted on financing Iraq's post-invasion reconstruction with oil revenues.
But the decrepit oil infrastructure and violence have left the country producing oil at about the same levels as before the war, at best, and those figures are well below production before the 1991
Gulf War that resulted in U.N. sanctions against the Iraqi oil industry.
The major Sunni bloc in parliament, along with Allawi loyalists in the Shiite bloc, openly oppose the draft measure. Al-Maliki also has lost the backing of the Shiite Fadila Party, and independent Shiite members are split on the bill. Those willing to speak about their opposition voice fears about what they see as too much possible foreign involvement and profit sharing.
The al-Maliki associates said U.S. officials, who they would not name, told the prime minister that
President Bush was committed to the current government but continued White House support depended on positive action on all the benchmarks — especially the oil law and sectarian reconciliation — by the close of this parliamentary session June 30.
"Al-Maliki is committed to meeting the deadline because he is convinced he would not survive in power without U.S. support," one of the associates said.
Standing in the way of forward movement is a recalcitrant Cabinet, which al-Maliki has promised to reshuffle by the end of this week. So far, however, he is at loggerheads with the political groupings in parliament that are threatening to withdraw support for the prime minister if he does not allow the blocs to name replacements for Cabinet positions.
http://news.yahoo.com/s/ap/20070313..._mi_ea/iraq_oil
__________________
Zubaidi:Monetary value of the Iraqi dinar must revert to the previous level, or at least to acceptable levels as it is in the Iraqi neighboring states.
Shabibi:The bank wants as a means to affect the economic and monetary policy by making the dinar a valuable and powerful.
Adster
View Public Profile
Send a private message to Adster
Find all posts by Adster
#2 Today, 06:37 PM
Adster
Investor
///////////////////////////////////////////////////////////////
Posted by: Ken 1003
In reply to: None Date:3/13/2007 1:25:32 PM
Post #of 5225
The problem with Iraq is that it's full of Iraqis :(
----------------------------------------------------------
http://www.imf.org/external/np/sec/pr/2007/pr0748.htm
IMF Executive Board Completes Third and Fourth Reviews under Iraq's Stand-By Arrangement, Approves Six-Month Extension of Arrangement to September 2007
Press Release No. 07/48
March 13, 2007
The Executive Board of the International Monetary Fund (IMF) has completed the third and fourth reviews of Iraq's performance under its economic program supported by a Stand-By Arrangement. The IMF arrangement is being treated as precautionary by the Iraqi authorities, and no purchase is planned.
The Stand-By Arrangement in an amount equivalent to SDR 475.36 million (about US$714.7 million) was approved on December 23, 2005 (see Press Release No. 05/307). In completing the latest reviews, the Executive Board also approved the authorities' request for a six-month extension of the arrangement through September 28, 2007. Additionally, the Board also approved the authorities request for a waiver of the non-observance of a structural performance criterion.
Following the Executive Board's discussion of Iraq, Mr. Takatoshi Kato, Deputy Managing Director and Acting Chair, stated:
"Iraq is entering a crucial period in its economic recovery. Despite very difficult political and security circumstances, the Iraqi authorities have taken important measures to keep their economic program on track. The maintenance of fiscal discipline, as well as the tightening of monetary policy and the appreciation of the dinar, are commendable. The increase of official domestic fuel prices and the enactment by the Council of Representatives (CoR) of a law liberalizing the import of fuel products are important steps. The amendments to the pension law were submitted to the CoR; we look forward to their early passage into law. The government's approval of a new oil and gas law augurs well for the future of the oil sector. Progress is also being made in financial sector reform.
"Inflation, however, remains high. While this is to an important extent due to the prevailing difficult security situation and supply disruptions, the Central Bank of Iraq (CBI) may need to take further steps in order to prevent high inflation from becoming entrenched and to de-dollarize the economy. Fiscal policy should be supportive by keeping current spending, including the wage and pension bill, in check. At the same time, it is important to increase government investment, especially in the oil sector. The government also needs to reduce supply bottlenecks, especially of fuel products. To that end, actions are needed to facilitate the importing of fuel products by the private sector. The pace of structural reforms needs to be increased. Efforts to modernize the chart of accounts and the budget classification need to be stepped up, and the Financial Management Information System should be implemented rapidly. It is important to complete the census of public sector employees by mid-year. While the restructuring effort on the two largest banks is commendable, efforts should be made to restructure the four other state-owned banks. The modernization of the payments system needs to be expanded to cover all banks.
"The CBI's efforts to implement the recommendations of the Interim Safeguards assessment report and the Ernst & Young 2005 audit report are encouraging. The Ministry of Finance is strongly encouraged to recapitalize the CBI as soon as possible.
"Corruption and violence need to be brought under control to unlock Iraq's oil wealth. More forceful actions are needed, especially in the area of smuggling. In this respect, the implementation of oil metering projects should be finalized as soon as possible. The authorities' intention to join the Extractive Industries Transparency Initiative is welcome.
"Progress in settling arrears with private creditors is commendable. However, further progress is needed towards resolving non-Paris Club official claims," Mr. Kato said.
/////////////////////////////////////////////////////////
Posted by: nid4u
In reply to: None Date:3/12/2007 2:54:19 PM
Post #of 5225
Today, 06:58 AM
darock0116
Investor Join Date: Oct 2006
Location: KY
Posts: 859
Parliament Meeting On The HCL Today!!!
--------------------------------------------------------------------------------
Voices of Iraq : Parliament-meeting (Introduction seconds)
2007 - 01:01 PM BT
Books : nakr2004 on Monday, March 12, 2007 1:01 PM-BT
The House of Representatives will discuss a draft bill of oil and gas
Dargham of Muhammad Ali Abdel Amir, Kawther
Baghdad - (Voices of Iraq)
The House discussed at its meeting held today, Monday, the draft resolution on oil and gas, with the Council postponed the second reading of the law regulating broadcasting frequencies and because of its relationship to the law of the provinces.
He said Dr Khalid al-Attiyah, first deputy chairman of the Chamber of Deputies, who chaired today's meeting that "the competent authorities demanded postponement of the second reading of the law regulating broadcasting frequencies, due to the completion of the governorates."
The law regulating broadcasting frequencies and the organization of the work of the mobile phone networks and broadcasting via radio to the media on television and radio and the development of the law of the Communications and Information is responsible for granting special leave mobile phones and transmission via the Iraqi ether.
The net objected purity and Minister of State for Parliamentary Affairs on the postponement that the government needs to enact the law. In addition to the fact that the Ministry of full implications of their work it. "
وعلى صعيد متصل , قال القاضي وائل عبد اللطيف عن ا
And in relation to, said Judge Wael Abdel Latif, the Iraqi from the list at today's meeting that "agriculture in Basra collapsed completely collapsed."
Abdel Latif added, "The reason for the deterioration is due to the lack of agricultural supplies and higher wages instead Landiaali four times from what it was under the decision of the Ministry of Agriculture."
The parliament today had a first reading of the draft law of the irrigation and drainage networks, which provided for the doubling of wages instead of land for those who default on the payment for the first half of the year.
The judge said Abdel-Latif, "agriculture in Iraq need material support, and not to increase the tax burden, especially as farmers in Iraq are represented (60 - 65%) and the strange topic that citrus fruits and intervention of the eyesight of Egypt and Kuwait, and other such that I knew of during my meeting Balmlakat and farming associations in Basra."
He added : "Therefore, the need to support agriculture, seeds, fertilizers
The director of Information Office of the President of the Chamber of Deputies, Muhannad Abdul Jabbar had said earlier today told (Voices of Iraq) said that the parliament "will be held today during its first regular legislative chapter III, to be chaired by Dr. Mahmoud Almshahadani President of the Council."
He explained that the Parliament will be discussed in today's meeting, "the second reading of the draft private investment liquidation of crude oil.
No legal quorum for a session held by the House of Representatives last Tuesday, and around the audience members to "consultative meeting" ...
Discussed during the parliament's work over the coming period.
The number of members of the House of Representatives (275) Iraqi Vice, and the required quorum of meetings is half the number of members plus one ...
Any (139) deputies.
Abduljabbar added, "As the House of Representatives today will discuss the second reading of the draft law on the Office of the High Commissioner for Human Rights, and the second reading of the amendment of the law on irrigation and drainage networks (No. 12 of 1995), and the second reading of the draft law to the Ministry of Municipalities and Public Works."
//////////////////////////////////////////////////////////////////
Posted by: nlightn
In reply to: None Date:3/11/2007 7:29:40 PM
Post #of 5225
Halliburton Will Shift Headquarters From Houston to Mideast Financial Powerhouse of Dubai
Army Won't Extend Halliburton Subsidiary's No-Bid Contract to Provide Iraq Services
ABCNews
By JIM KRANE
DUBAI, United Arab Emirates Mar 11, 2007 (AP)—
Oil services giant Halliburton Co. will soon shift its corporate headquarters from Houston to the Mideast financial powerhouse of Dubai, chief executive Dave Lesar announced Sunday.
"Halliburton is opening its corporate headquarters in Dubai while maintaining a corporate office in Houston," spokeswoman Cathy Mann said in an e-mail to The Associated Press. "The chairman, president and CEO will office from and be based in Dubai to run the company from the UAE."
Lesar, speaking at an energy conference in nearby Bahrain, said he will relocate to Dubai from Texas to oversee Halliburton's intensified focus on business in the Mideast and energy-hungry Asia, home to some of the world's most important oil and gas markets.
"As the CEO, I'm responsible for the global business of Halliburton in both hemispheres and I will continue to spend quite a bit of time in an airplane as I remain attentive to our customers, shareholders and employees around the world," Lesar said. "Yes, I will spend the majority of my time in Dubai."
Lesar's announcement appears to signal one of the highest-profile moves by a U.S. corporate leader to Dubai, an Arab boomtown where free-market capitalism has been paired with some of the world's most liberal tax, investment and residency laws.
"The eastern hemisphere is a market that is more heavily weighted toward oil exploration and production opportunities and growing our business here will bring more balance to Halliburton's overall portfolio," Lesar said.
In 2006, Halliburton once headed by Vice President Dick Cheney earned profits of $2.3 billion on revenues of $22.6 billion.
More than 38 percent of Halliburton's $13 billion oil field services revenue last year stemmed from sources in the eastern hemisphere, where the firm has 16,000 of its 45,000 employees.
Cheney was Halliburton's chief executive from 1995-2000 and the Bush administration has been accused of favoring the conglomerate with lucrative no-bid contracts in Iraq.
Federal investigators last month alleged Halliburton was responsible for $2.7 billion of the $10 billion in contractor waste and overcharging in Iraq.
Halliburton last month announced a 40-percent decline in fourth-quarter profit, despite heavy demand for its oil field equipment and personnel.
On the Net:
Halliburton Co.: http://www.halliburton.com
Copyright 2007 The Associated Press. All rights reserved.
http://abcnews.go.com/Business/wireStory?id=2941931
//////////////////////////////////////////////////////////////
Posted by: waterfowler
In reply to: None Date:3/11/2007 4:23:42 PM
Post #of 5225
THIS COULD BE BIG NEWS
Demand for dollar down as new policy expected in Central Bank auction
By Dergham Mohamed Ali
Baghdad, March 11, (VOI) – Demand for the dollar was down in the Iraqi Central Bank’s daily auction on Sunday, reaching $45.395 million, compared with $54.145 million on Thursday, amid expectation of a new policy to sell dollars.
In its daily statement, the bank said it had covered all bids, which included $8.845 million in cash and $36.550 million in foreign transfers, at an exchange rate of 1,279 dinars per dollar, unchanged from Thursday.
None of the 10 banks that participated in Sunday's auction offered to sell dollars.
Abdul-Razzaq al-Abaiji, an economist, told VOI "the decline in today's demand for the dollar was due to the expectation that a new policy will be adopted by the Central Bank to raise the dollar exchange rate in upcoming sessions."The Iraqi Central Bank runs a daily auction from Sunday to Thursday.
//////////////////////////////////////////////////////////////
Posted by: RICK C
In reply to: RICK C who wrote msg# 5079 Date:3/11/2007 8:20:23 AM
Post #of 5225
Finance & Banking
Iranian bank to enter Iraq economy
----------------------
11 March 2007 (Press TV)
A major Iranian bank will begin operations in war-torn Iraq within the next few days, the head of the Iran-Iraq Joint Chamber of Commerce said.
Hassan Tiz-Maghz said during a high-profile meeting of Iranian and Iraqi economic officials in Tehran that Iran also plans to set up an insurance firm in Iraq, Fars news agency reported.
"Bank Melli Iran will begin work in Iraq within the next few days in cooperation with an Iraqi development bank," Tiz-Maghz said, adding that Iran has also paved the way for establishing an insurance company and an inspection facility in Iraq to examine the quality of goods Iranian companies export to that country.
Iraqi Trade Minister Abd al-Fallah Hassan al-Sudani, who was among the participants at the meeting, said the Iraqi government is seeking to privatize the economy of the oil-rich nation.
"Baghdad favors a market economy," the Iraqi minister said.
He said the Iraqi private sector was badly damaged under former dictator Saddam Hussein, and stressed that efforts were currently underway to revitalize private enterprise in the war-torn nation.
The minister added that last year the Iraqi government allowed private companies to import oil derivatives. Iraq's oil reserves are currently at 115 billion barrels.
"Iran possesses great capabilities," the minister continued, calling for the implementation of prior agreements reached between the two countries.
A senior Iraqi economic delegation was in Tehran earlier this week to explore avenues for cooperation between Iran and Iraq.
Iran has exported over $2 billion worth of non-oil goods to Iraq since last March. The country is the second largest exporter of goods to Iraq after the United Arab Emirates.
Iraq imported a total $13 billion of goods in 2006. The nation's annual budget also increased from $33 billion in 2006 to $41 billion in 2007.
////////////////////////////////////////////////////////////////
Posted by: RICK C
In reply to: pkripper who wrote msg# 5070 Date:3/11/2007 8:19:21 AM
Post #of 5225
BAGHDAD, 11 March 2007 (UPI)
Officials from the China National Petroleum Corp. are in Iraq trying to re-sign a major oil deal first signed with Saddam Hussein.
Assem Jihad, a spokesman for the Iraqi Oil Ministry, said CNPC representatives had been in country since Tuesday.
Their goal is to renegotiate a contract for the al-Ahdab field, which China won the exploration rights to 10 years ago.
CNPC expects to attain the field rights again, reports China Oil News, a news service owned by CNPC.
The al-Ahdab contract was for $700 million of the 23-year expected lifespan. CNPC would produce 90,000 barrels per day.
Work was halted, however, by U.N. sanctions and other security issues.
But Iraq is closer to finalizing a law governing oil and natural gas developments in the country, which could pave the way for contract terms for CNPC.
Other companies, like Russia's Lukoil, are attempting to re-sign contracts from the Hussein era.
The law is controversial and faces opposition from Iraq's oil unions and others who view it as too gracious to foreign companies.
Details still to be worked out could also be held up by bickering factions in the central government and by regions wanting more secured terms.
Iraq has 115 billion barrels of proven oil reserves, though production of oil has been slowed by the ongoing war and violence.
Production averaged around 2 million bpd last month.
/////////////////////////////////////////////////////////////////
Posted by: waterfowler
In reply to: None Date:3/10/2007 8:10:34 PM
Post #of 5225
20 billion dinars being flown by the U.S. to one Iraqi bank.
Long read but interesting.
US commander strolls streets of contested city, eating ice cream and talking progress
The Associated PressPublished: March 10, 2007
HIT, Iraq: The top U.S. commander in Iraq strolled through the streets of this dusty Euphrates River city Saturday, munching ice cream and promoting cooperation between Americans and Iraqis in a Sunni Arab community where insurgents have been driven out before — only to return.
Gen. David Petraeus visited Hit, scene of bloody fights with insurgents for the last three years, to affirm U.S. support for a nascent city administration and to deliver a message that American troops will remain here until Iraqi forces are genuinely ready to provide their own security.
To demonstrate his confidence, Petraeus, accompanied by dozens of armed U.S. troops and Iraqi policemen, strolled down the main street, stopping to buy ice cream from a vendor and wandering through the city market, where snipers were taking potshots at U.S. patrols just months ago.
"Iraq presents its own complex set of challenges and you have to do one city at a time," Petraeus said as he beamed at hesitant crowds and delivered Arabic greetings to small groups of young boys who stared at the entourage from the curb.
Few of the Iraqis returned the greeting and most kept back, perhaps intimidated by the stern-faced gun-toting Iraqi policemen who appeared keen to make sure nothing went awry during the visit.
Today in Africa & Middle East
Iraqi leader requests regional aid to curb violence
Kenyan police arrest key Al Qaeda suspect
Disaster puts spotlight on Malian immigrants to U.S.
Nevertheless, the fact that a senior American general could walk through the public market in a Sunni city with such a bloody past indicated a degree of progress which U.S. commanders are keen to exploit.
That is key to the new U.S. strategy of clearing areas of insurgents and then remaining there to promote economic and quality of life projects. In the past, Iraqi forces failed to maintain control once the Americans were gone.
Last month, Iraqi police backed by American troops from the 2nd Battalion, 7th Infantry Regiment, 3rd Infantry Division, swept through the city of about 120,000 people about 160 kilometers (100 miles) northwest of Baghdad, arresting suspected insurgents and establishing three new police stations in the downtown area.
Since then, the number of violent incidents — mostly bombings and shootings — has dropped from an average of five per day to about 1.3 a day, the lowest level since March 2006, according to Lt. Col. Douglas Crissman of Faifax, Va., the battalion commander.
The plan is for U.S. and Iraqi checkpoints around the city to turn Hit (pronounced Heet) into a "gated community" free of insurgents, Crissman said.
To convince the locals that better days are ahead, U.S. officers plan to fly in 20 billion dinars ($15 million) to float the local bank, which will enable retired government employees and soldiers to start receiving pensions and provide cash to bolster the economy.
The Americans are also encouraging the Shiite-run government in Baghdad to pay more attention to mostly Sunni Anbar, including authorizing funds to pay for the extra police. But U.S. forces have claimed similar successes in the past in Hit, only to see gains lost because of a lack of enough troops here in Anbar province, a vast area that stretches from the western edge of Baghdad to the borders with Syria, Jordan and Saudi Arabia.
Despite a recent cleanup campaign, the city still bears the scars of conflict, including concrete barriers around a local mosque from which insurgents used to fire mortars at American positions.
"See that hole in the wall," said Sgt. Maj. Samuel Coston of Wallace, N.C. "An IED threw a Bradley" fighting vehicle "into it, and a Bradley weighs 30 tons."
In early 2004, the Marines took over responsibility for western Anbar but had to shift forces eastward when violence flared in the Anbar provincial capital of Ramadi and in Fallujah.
With the remaining Marines overstretched, Hit fell under insurgent control and became a waystation for weapons and fighters entering the country from Syria toward Baghdad and other cities.
Marines worked with a local Sunni tribe, the Abu Nimur, to recruit police and Iraqi soldiers and were well on their way to establishing Hit as a model of U.S.-Iraqi cooperation.
But U.S. units were moved again from Hit to support the siege of Fallujah in November 2004. Insurgents returned, killing policemen, intimidating residents and ambushing American convoys.
The son of the current police commander, Col. Hamid Ibrahim al-Jaza, was beheaded on a soccer field. Hit has remained a flashpoint ever since.
To heal the wounds, U.S. officers are promoting community development plans, including a new wing of the local hospital, and are recruiting hundreds of police to bolster the city's 827-member force.
////////////////////////////////////////////////////////////////
Posted by: pkripper
In reply to: Norton1973 who wrote msg# 5069 Date:3/10/2007 12:39:11 PM
Post #of 5225
look at this
"We want 2007 year to be the turning point for economically recovery of Iraq."
Deputy prime minister says Iraq needs new management system to handle its budget
Deputy prime minister says Iraq needs new management system to handle its budget
International Herald Tribune - [07/03/2007]
Iraq's government needs a new management system to enable it to manage the country's unprecedented $41 billion budget, Iraq's deputy prime minister said Wednesday.
"It is unprecedented in the history of Iraq — we have $41 billion budget in which $10.5 billion is allocated for the investment budget," said Barham Saleh, one of two deputy prime ministers and head of the Cabinet's economic committee.
"But we have a problem because of the bureaucracy of the state and the government has been incapable on delivering on its commitments," Saleh told reporters after a conference sponsored by the Ministry of Finance to discuss the investment budget.
Saleh said the major problems in managing the budget were "the accumulated heritage" of Saddam Hussein's regime, a "bureaucratic mind" and corruption.
"We are trying to find new management systems to enable the government to work actively to implement its commitments," he added. "We want 2007 year to be the turning point for economically recovery of Iraq."
Ali Baban, the minister of planning, told the conference other major problems facing Iraq's economy were inflation, unemployment and poor services. He said the best way to confront those problems was to revive Iraqi industry.
"We do believe that reviving the sectors of agriculture, services and industry will develop the Iraqi economy," Baban said. "The government is still the biggest investor because we don't have an active private sector and huge foreign investments," despite the country's oil wealth.
"Corruption has become a dangerous element and is curbing the governmental work. This dangerous disease should not curb our efforts and we have to face it bravely and develop the capability of our supervision systems."
Finance Minister Bayan Jabr said the government hopes to use state funds to revive domestic industry and put about a half million people to work this coming year, offering "real services to the citizens."
////////////////////////////////////////////////////////////////
Posted by: pkripper
In reply to: pkripper who wrote msg# 5066 Date:3/10/2007 12:33:24 PM
Post #of 5225
Yes I know I put up alot of stuff, but man...it's happening, can you see it...? Lot's of great things going on.
Gulf investors invited to implement “Iraq Great Port” project
Translated by IRAQdirectory.com - [08/03/2007]
Governor of Basrah, Muhammad Misbih Alwaeli, invited Arab (especially Gulf) and international companies to present designs concerning “Iraq Great Port” project which is intended to be set up at the mouth of Shatt al-Arab in the city of Faw, (100 km south of Basrah).
Alwaeli stressed that “the project of the port is a first step in establishing a broad Iraqi investment base starting from Basrah, explaining that it would be built in a 100% safe area, located outside the city, and isolated from any political or party activity, as well as being protected by Iraqi forces, which will help inviting investors to examine it”.
Alwaeli especially invited Gulf investors in Kuwait, United Arab Emirates and Saudi Arabia, preferring their presentations to foreign bidders, because most of Basrah families have affinity and kinship relations with many Gulf businessmen; also, the area is located within the Arabian Gulf region, which facilitates the transfer of equipment and machinery across common waters.
Alwaeli denied the information about the fears of some Gulf businessmen from the Iranian influence in Basrah, pointing out that “these fears are mere illusions created by some enemies of the city and political opponents, in order to obstruct the reconstruction projects in it”.
He explained that the project includes the construction of a port accommodate the anticipated requirements of reconstruction; the project will be implemented on several stages, comprising building docks, warehouses and a railway linking Iraq to the ancient Silk Road, connecting Europe to Iraq, in addition to the construction of housing units, chalets, parks and recreational projects, which will be organized by a central law of their own. He confirmed the desire of some European banks to fund the project.
//////////////////////////////////////////////////////////////
Posted by: pkripper
In reply to: pkripper who wrote msg# 5065 Date:3/10/2007 12:24:26 PM
Post #of 5225
Byblos Bank plans Iraq expansion from Kurdish North
Financial Express - [08/03/2007]
Byblos Bank, Lebanon’s third-largest lender, will open a branch in Iraq next month using the safety of the Kurdish north as a platform for expansion into a country that holds 10% of the world’s oil reserves.
“Iraq is very important, there is huge potential there,’’ chairman Francois Bassil, 72, said in an interview in his office in Beirut March 6. Byblos will open its branch in Arbil, capital of the Kurdish region of northern Iraq, because it’s more secure than other parts of the country, he said.
http://www.iraqdirectory.com/DisplayNews.aspx?id=3377
///////////////////////////////////////////////////////////////
Weeks' end review of news.
Posted by: pkripper
In reply to: pkripper who wrote msg# 5064 Date:3/10/2007 12:18:06 PM
Post #of 5225
reduce the exchange rate ...I Love the last sentence.
First rise in the dollar exchange rate over several months
First rise in the dollar exchange rate over several months
Translated by IRAQdirectory.com - [09/03/2007]
The dollar exchange rate rose for the first time over several months ago in the Iraqi Central Bank auction yesterday, Thursday, after it continued its dropping for more than five months.
The demand for the dollar in the auction, on Thursday, dropped to 54 million and 145 thousand dollars against 66 million and 260 thousand dollars on Wednesday.
The purchase demands were divided as: 7 million and 70 thousand dollars in cash, and 47 million and 75 thousand dollars in the form of remittances for outside the country fully covered by the Bank at the exchange rate of 1279 dinars, going up one point on the exchange rate of last Wednesday, and this is the first rise in the dollar exchange rates over the past five months.
While none of the 11 banks participating in the auction made any offers to sell the dollar.
Mr. Ali Al-Yasiri, one of the dealers with the Bank, explained that the rise, although not big, it was surprising and reflected the Bank’s policy for the past three months, which aims at reducing the exchange rate; this affected the volume of cash bids and their restriction to urgent dealings.
/////////////////////////////////////////////////////////////////
Posted by: pkripper
In reply to: pkripper who wrote msg# 5062 Date:3/10/2007 12:14:43 PM
Post #of 5225
Jumping at the chance...
Turkish firms, Shell set up Iraq gas JV
Turkish firms, Shell set up Iraq gas JV - source
Reuters - [10/03/2007]
Turkish companies and Royal Dutch Shell have set up a consortium to bid for a gas production licence in Iraq and build a pipeline to Turkey's energy hub of Ceyhan, an industry source said on Friday.
"There is a joint venture that has been set up to that end among TPAO (state-owned Turkish Petroleum Inc), Shell, (state pipeline operator) Botas and (Turkish firm) Tekfen," the source told Reuters at an energy conference in Istanbul.
The pipeline would run parallel to an existing oil pipeline from Iraq's Kirkuk to Ceyhan on the Mediterranean.
The source said the production of gas and its transport to Turkey were a focus of discussions between Iraqi, Turkish and U.S. officials at a meeting on Friday in Istanbul.
Turkish Energy Minister Hilmi Guler confirmed the meeting, saying it had been successful, but declined to comment on what had been discussed.
"This meeting was the first. We will meet again soon," he told Reuters on the sidelines of the energy conference.
The U.S. State Department's Deputy Assistant Secretary Matt Bryza, who attended the talks, said on Thursday Washington supported Turkey becoming a transit point to Europe for Azeri and Iraqi gas to provide a new source of gas and break the dominance of Russian giant Gazprom.
Bryza said the energy map of Europe would change if gas from Iraq could be incorporated in the future with gas from ex-Soviet republics such as Azerbaijan and Kazakhstan, but said this would require clear signals to investors.
Last week, Guler said foreign firms had expressed interest in working with TPAO, Turkey's state oil exploration firm, in its search for crude and natural gas in northern Iraq.
The latest energy moves follow the Iraqi cabinet's recent endorsement of a draft oil law that regulates how the war-shattered country's oil wealth will be shared between its ethnic and sectarian groups.
The law, which must still be approved by the Baghdad parliament, allows regional administrations in Iraq to negotiate contracts with international energy companies.
But it would also put oil revenues into a central account which would then be distributed according to population.
Turkey has a complex relationship with the mainly Kurdish north of Iraq. Its army generals and politicians have sometimes threatened to take military action to crush separatist Turkish Kurdish rebels hiding in the mountains there.
But despite such political tensions, more than 600 Turkish firms are operating in northern Iraq. Analysts say Turkish exports to the Kurdish government there, including fuel, totalled about $5 billion in 2006 alone.
Not just yet. LMAO.
Still
Trav.
Wasnt the 19th one of the dates that we were suppose to watch for.
This is getting interesting.
I dont see any postings of what happened after the meeting with Pres. Bush either, unless I have missed them.
Trav.
PS,
This meeting.
WASHINGTON: President George W. Bush will meet with Iraqi Vice President Adil Abdel Mahdi Thursday at the White House, said spokesman Gordon Johndroe
http://www.iht.com/articles/ap/2007/...-Iraq-Bush.php
So are we one step closer to the Re-Val, and just waiting for the news to come out.
PSS,
Not to mention there 30 holliday should be up on the 19th, plus or minus a day or so.
Okay, I was just over here keeping track of my DONG. LOL. Dont want my DONG running off on me. LMAO
Trav.
Saturday, March 17, 2007
1 Vietnamese Dong = 0.00006362 US Dollar
1 US Dollar (USD) = 15'719.0 Vietnamese Dong (VND)
Median price = 0.00006125 / 0.00006362 (bid/ask)
Minimum price = 0.00006005 / 0.00006241
Maximum price = 0.00006237 / 0.00006503
1'000'000 Vietnamese Dong = 63.61715 US Dollar
1'000'000 US Dollar (USD) = 15719031430 Vietnamese Dong (VND)
Median price = 0.00006125 / 0.00006362 (bid/ask)
Minimum price = 0.00006005 / 0.00006241
Maximum price = 0.00006237 / 0.00006503
It is getting more and more exciteing to read about and watch everyday. Cant wait to see if the Dinar will pop first or the DONG. Time will tell, and we have plenty of that.
Trav.
VIETNAM: Stock market booms as global counterparts fall
Last Updated 13/03/2007 3:50:07 PM
Vietnam's stock market is booming. But even as investors watch as their profits rise, they are worried that the government intends to intervene.
Listen | Audio Help
Presenter/Interviewer: Karon Snowdon
Speakers: Alex Joiner, international economist, ANZ Bank
SNOWDON: Vietnam is starting to get new names, the flavour of the month, a mini-China and the like.
Investment is indeed booming. Equities on the six year old stock market rose by 140 per cent in 2006 and are up another 50 per cent so far this year.
The index hardly noticed the last few weeks when billions of dollars of value were knocked off stock markets almost everywhere else.
There are some technical reasons for that including an under-developed trading system with some unique characteristics.
But according to Alex Joiner from the ANZ Bank, investors will continue to throw money at Vietnam's stock market.
The same goes for foreign direct investment.
JOINER: The target for FDI put out by the government last year was six-point-five billion. It's actually attracted 10-billion in 2006 and this was a significant increase on the six-point-eight billion attracted in 2005. The government is going for 12-billion in 2007 and it's well on the way to achieving that already with over 700-million dollars worth of foreign direct investment in the first two months of this year.
SNOWDON: Part of the growth has come from the corporatisation of former state owned companies.
It's helped double the number of companies on the stock market in the past year and a half.
In that time the market's capitalisation has gone from a small 500 Million dollars to a remarkable 16 Billion.
That sort of volume of money - much of it foreign, builds up pressure, and the steam has to be let off eventually.
The currency the dong has been appreciating against the wishes of the Vietnam State Bank. Alex Joiner:
JOINER: All these pressures have forced the State Bank of Vietnam to install a release valve by widening the trading bands in which the dong operates and this has allowed some pressure to be released, but the currency has appreciated. Only in the past few weeks has the currency again been set at a depreciating rate and it's only then it's broken back through the 16-thousand dong per US dollar mark.
SNOWDON: Now I've seen the word bubble used to describe Vietnam for some time now. Is there any risk of overheating now?
JOINER: Well there's certainly as I've just said there's pressures building up, but to use the words overheating and bubble at this stage is probably a little bit premature.
SNOWDON: It all means a spectacular balancing act by the authorities to encourage the foreign investment Vietnam needs against the capacity of its infant institutions and regulations to cope.
Investors are worried about speculation that won't go away that the Government will impose restrictions, maybe through a capital gains tax to cool down speculation.
Such rumours in China helped drive the nine per cent stock market fall of several weeks ago.
And like in China, Vietnam also poses challenges investors need to be aware of.
JOINER: Well that's certainly true. There is a lot of buzz created around these rapidly growing economies and we only now are seeing the information that we need to sort of actually make the investment decisions crucial to when someone puts their money into an economy such as this. For example the state-owned enterprises are being floated on the stockmarket often do not have independent ratings or audits from independently recognised companies, so people that are investing in some of these stocks are not really getting the full information on the companies that they are investing in. So this transparency is being developed but it certainly is not perfect at the moment.
http://www.radioaustralia.net.au/asiapac/programs/s1869899.htm
Sorry, just getting back in here from a week off. Didnt see that post, Ill get caught up on everything in a couple minutes.
How about sending him a Dr. Phil gift card for therapy. LMAO.
Trav.
IBM Looks Beyond India To Vietnam And China
IBM also is enlisting industry partners in its globalization campaign and said Monday that it would work with Cisco Systems to provide a range of internationally consistent infrastructure support offerings.
By Paul McDougall
InformationWeek
March 12, 2007 11:00 AM
Faced with rising salaries and a talent squeeze in India, IBM is searching out new frontiers in its campaign to deliver tech services from countries that are geographically closer to many of its international customers and where skilled workers earn significantly less than their U.S. counterparts.
With that in mind, IBM on Monday announced plans to open new computer services centers in Vietnam and China.
The Vietnamese facility, IBM's first in that country, will be located at the National University in Ho Chi Minh City and offer a range of services to customers in French-speaking areas such as France, Belgium, and parts of Africa.
IBM's new Chinese center will be located in the high-tech zone of Chengdu and will support customers in the U.S., Europe, Australia, and Japan. It will be IBM's fourth application maintenance and development facility in China.
An IBM spokesman declined to say how many employees would be located at the new facilities. "We're not talking numbers right now," said the spokesman.
IBM is looking at expanding its offshore presence beyond India in part because the rapid influx of Western IT companies into the country -- IBM itself now has more than 50,000 Indian employees -- has created wage inflation and a shortage of managerial talent.
India produces 400,000 technically trained graduates a year, but many are deficient in teamwork and language skills, according to a study released last year by consultants at McKinsey & Co. To boot, the Western hiring binge is leading to salary inflation of about 15% per year, according to Indian IT executives.
Faced with such conditions, IBM and other U.S.-based outsourcers are hedging their bets on India by searching out new, low-cost tech hot spots. In addition to China, Russia, Eastern Europe, and Brazil all are attracting significant interest from tech services providers.
IBM also is enlisting industry partners in its globalization campaign. The company said Monday that it would work with Cisco Systems to provide a range of internationally consistent infrastructure support offerings.
http://www.informationweek.com/news/showArticle.jhtml?articleID=197802506
People often lash out..
At things they dont understand, or wish they had some of, or just out of jealousy. Maybe he was in and folded when he should have held and cant afford to get back in now.
Maybe he cant afford to get in at all and never could. Maybe he's just poed cause this may be the play of a life time for some of us and he's missed the boat or missing the boat.
Maybe his kitten is stuck in a tree.
Maybe this hasnt play out like he had hoped, maybe he thought it was to be an over night success and make him a ChaZillionaire <sp,lol> after being in it for a whole 12 hours and feels the need now to take his frustrations out on whom ever is arround for him to do so on.
Maybe he needs a hug.
Maybe he's Bi-Bolar.
I dont know, and I really dont care to waist my time worring about what his problems might be in life, what ever his issues are with the world, he can go back to palying in his little sand box all by himself, and let the big boys and girls stay here where we get along with each other and help each other out.
Just my .0002 worth. on Areo and enough out of me on the subject of him as well.
Hey Strong Tower keep up the great work.
Trav.
I agree with some of this , and dissagree with some as well.
• Restrict the use of artery-clogging trans fat, common in fried and baked foods and linked to heart disease, in restaurants and school cafeterias.
- I agree with it being restricted in our schools or even elemenated all together, we have enough obeese and ill children do to eating dissorders, and poor diets. Granted some of this is there parents fault.
- I forsee the next law telling me I can no longer deep fry a Turkey in my own back yard.
• Bar smoking at state parks and beaches, and in cars carrying children.
- Its a state park and I pay my taxxes, so let me smoke as long as it isnt arround someone thats being offened by it, or Im at least far enough away from them that they dont go and inhail my second hand smoke.
- No smokeing in cars with kids...are there still people that are that stupid in the world? They are kids, dont force this stuff on them!!!
• Open a savings account, seeded with $500, for every newborn Californian to use at 18 for college, a first home purchase or an investment for retirement.
- This makes me laugh because I know adults in there 60 and beyond that think Social Security will save them. They dont even have a saveings, and ignorned any 401k plan that was offered to them. This will lead to more abortions and children being forced to be put up for addoption, not to mention even more stress on new parents and families that are just trying to stay together.
• Fine dog and cat owners who don't spay or neuter their pets by 4 months of age.
- Who pays for this? How many puppies and kittens will be left in all those smoke free parks for tax payers to take care of? How many 13 year old's have kids these days, maybe we should all go on some type of manditory birth control as well.
• Require chain restaurants to list calorie, saturated fat and sodium content on menus.
- Agree to a point...at the least have the list at hand so customers can view it.
• Phase out the sale of incandescent light bulbs, which are less energy-efficient than compact fluorescent bulbs.
- Solar power anyone? Have we given up on that? How about spending some of the money that it took to figure out how much money we would save on light bulbs and put that toward finding an alternative power source?
Just my .0002 worth.
Dont shoot me.
Trav.
Words excape me with things like this. I just never know how to go from thought to type.
Its difficult, im sure for you and your family. From the looks of the post here for you and your family you have alot of support here from friends. Im sure that you exchange Emails, or phone calls with them at times, and its good to talk about things like this to your friends, im sure you can count on them to be there for you. Sorry for the loss of life in your family, it hurts when its happens to someone at such a young age.
God Bless, prayers are with you and your family.
Trav.
I would'nt think so. When I purchased with GID they did take my SSN when I placed my order with them, so I was concerned but when I placed an order with Ali at Dinar Trade, all he wanted was a address and phone number. There is no telling what you are going to do with your Dinar after you get them, so how would they (IRS) try and keep track of them? I've given away a few of mine to friends and family, but didnt share there names with anyone. But when you go to a coin dealer and pick up a proof set or go in and purchase some other currency, they dont take names then either.
Its all just money, IMO.
Trav.
Friday, March 09, 2007
1000000 Vietnamese Dong(s) = 62.4805 US Dollar(s)
1 USD = 16005 VND
1 VND = 6.24805e-05 USD
Well its been fun anyways. lol.
I tried to goto:
Thomas Cook Currency Services, Inc.
(425) 462-8225
10630 NE 8th St
Bellevue, WA 98004
As the teller at Wells Fargo said that I should to get my DONG checked by them to make sure they are the correct ones. Unforturnantly there is so much construction going on down there that there wasnt really anywhere to park and couldnt find there place of opperation. No sigh, no nothing, just alot of roads blocked off the new biulding being biult. Yahooieeee. ARRGGGG (traffic, and no parking) So called them and just asked about the DONG, and if they dealt in that currency...the lady on the phone said "Those are illeagle"...so, that put a fast end to the conversation on her part. If they were illeagle my bank would'nt be selling them, nor would Ali.
Called Ali again, and he said that the ones that are pictured on this board and his website www.nammoney.com are the good ones to have. I said, those are the ones that I have, they look just like those (as that is what it says in my first posting about all this) ones there. He said okay, then your good.
LMAO, couple days to figure all this out and pull out your hair, and miss a few trades, PRICELESS. Couple weeks, months, or years down the road when all this pays off, and I really dont care about time lost. PRICELESS'ER. lol.
So the ones posted on this board and his are good ones...Just dont change those images. Those are the Pollimar ones, they are part paper, and part pollimar, not just paper, and not just plastic.
Ali might be a bit more expensive with these than Wells Fargo....but he doesnt make you feel like you need to down a couple Tylenol Extra Streghts after placeing an order. So, more from him coming next week.
Have a great weekend all.
Trav.
If that happened to us that quickly, I would go into hideing. Most would not be able to find me even if useing the Hubble.
Id grow a beard, shave my head and travle the country in a Lime Green VW van, singing "if your happy and you know it"
Trav.
Im looking forward to when they are to expensive to buy.
Trav.
Wall Street drools over prospect of capturing Iraq oil wealth
The Iraqi cabinet’s adoption last week of a law creating the legal framework for turning over the country’s oil wealth to American corporations has touched off a chorus of salutes from the Bush administration, congressional Democrats and the corporate-controlled American media.
Perhaps the crassest expression of money-grubbing glee came in the Wall Street Journal, which published an article March 4 celebrating the unlocking of untold riches, including “dozens of untouched oil fields loaded with proven reserves and scores of exploration blocks that may prove a magnet to international oil companies.”
The draft law lists 51 oil fields, 27 in production and the balance with proven reserves, as well as 65 exploration blocks. The fallow fields and exploration blocks are located in every region of the country, while the working fields are concentrated in the northern region around Kirkuk and in the southern region near the border with Kuwait. Citing a cabinet document, the Journal reported that “Iraqi officials must first agree to the framework of contracts to be used when negotiating with foreign oil companies by March 15 if the country’s draft hydrocarbons law is to be submitted to parliament for its approval.”
The draft law calls for reviewing and renegotiating contracts with Russian, French and Chinese oil producers, signed under Saddam Hussein. These countries, which initially opposed the US invasion, are expected to be cut out of any lucrative oil deals in favor of American and British companies.
The government of Prime Minister Nouri al-Maliki endorsed the draft law February 26, after months of bitter conflicts among the representatives of rival bourgeois factions within Iraq—Kurdish, Sunni and Shiite—over the terms of the deal. Approval is likely in the Iraqi parliament, although not certain, as news of the agreement is sure to provoke widespread popular outrage over the sell-off of the country’s most valuable resource.
The cabinet conflict revolved around two related issues: Kurdish determination to hold onto Kirkuk, a city of mixed Arab, Kurdish and Turkomen population that is the center of the northern branch of Iraq’s oil industry; and the Sunni demand for revenue-sharing at the national rather than regional level, since the proven oil reserves are largely in the Shiite and Kurdish populated areas, with relatively little in the central and western provinces where most Sunnis live.
Neither issue was completely settled, but the formula agreed upon under heavy pressure from outgoing US Ambassador Zalmay Khalilzad, who reportedly dictated the final terms, provides rather more concessions to the Sunnis, largely at the expense of the Kurds.
In public, the Bush administration and congressional leaders of both parties have cited the working out of inter-ethnic compromises as the main purpose of the oil legislation. In reality, however, the Bush administration sought an agreement on whatever terms it could impose, so that the Iraqi oil industry could be placed on legal foundations suitable for opening it up to foreign (and largely American) capital.
Source: Bay Area Indymedia
Wall Street drools over prospect of capturing Iraq oil wealth
The Iraqi cabinet’s adoption last week of a law creating the legal framework for turning over the country’s oil wealth to American corporations has touched off a chorus of salutes from the Bush administration, congressional Democrats and the corporate-controlled American media.
Perhaps the crassest expression of money-grubbing glee came in the Wall Street Journal, which published an article March 4 celebrating the unlocking of untold riches, including “dozens of untouched oil fields loaded with proven reserves and scores of exploration blocks that may prove a magnet to international oil companies.”
The draft law lists 51 oil fields, 27 in production and the balance with proven reserves, as well as 65 exploration blocks. The fallow fields and exploration blocks are located in every region of the country, while the working fields are concentrated in the northern region around Kirkuk and in the southern region near the border with Kuwait. Citing a cabinet document, the Journal reported that “Iraqi officials must first agree to the framework of contracts to be used when negotiating with foreign oil companies by March 15 if the country’s draft hydrocarbons law is to be submitted to parliament for its approval.”
The draft law calls for reviewing and renegotiating contracts with Russian, French and Chinese oil producers, signed under Saddam Hussein. These countries, which initially opposed the US invasion, are expected to be cut out of any lucrative oil deals in favor of American and British companies.
The government of Prime Minister Nouri al-Maliki endorsed the draft law February 26, after months of bitter conflicts among the representatives of rival bourgeois factions within Iraq—Kurdish, Sunni and Shiite—over the terms of the deal. Approval is likely in the Iraqi parliament, although not certain, as news of the agreement is sure to provoke widespread popular outrage over the sell-off of the country’s most valuable resource.
The cabinet conflict revolved around two related issues: Kurdish determination to hold onto Kirkuk, a city of mixed Arab, Kurdish and Turkomen population that is the center of the northern branch of Iraq’s oil industry; and the Sunni demand for revenue-sharing at the national rather than regional level, since the proven oil reserves are largely in the Shiite and Kurdish populated areas, with relatively little in the central and western provinces where most Sunnis live.
Neither issue was completely settled, but the formula agreed upon under heavy pressure from outgoing US Ambassador Zalmay Khalilzad, who reportedly dictated the final terms, provides rather more concessions to the Sunnis, largely at the expense of the Kurds.
In public, the Bush administration and congressional leaders of both parties have cited the working out of inter-ethnic compromises as the main purpose of the oil legislation. In reality, however, the Bush administration sought an agreement on whatever terms it could impose, so that the Iraqi oil industry could be placed on legal foundations suitable for opening it up to foreign (and largely American) capital.
Source: Bay Area Indymedia
Investing: Vietnam's debt market is drawing global funds
By Wes Goodman Bloomberg NewsPublished: March 5, 2007
SINGAPORE: Vietnam, one of the best performing debt markets in Asia this year, is attracting global bond funds anticipating faster economic growth and higher credit ratings.
Fortis Investments, part of Belgium's biggest financial-services company, is adding to its holdings of bonds denominated in Vietnam's currency, the dong. Oppenheim, part of the largest privately owned bank in Europe, plans to buy debt when Vietnam sells dollar bonds for a second time.
Investors have been encouraged by the government's forecast of a sixth straight year of economic growth in excess of 7 percent and its acceptance this year into the World Trade Organization. Vietnam is attracting so much money that it needs to curb "excessive exuberance" in its bond and stock markets, analysts at Credit Suisse Group said in a recent report.
"We expect a rating upgrade in the second half of this year," said Carmen Daub, who oversees debt at Oppenheim in Cologne. "Vietnam will profit from China and growth in the region."
The extra yield that investors demand to own Vietnam's 6.875 percent dollar bonds due in 2016 compared with similar-maturity U.S. Treasury securities has narrowed to 1.32 percentage points from 2.56 when the government sold them in October 2005. The spread widened about 0.17 percentage point last week as emerging markets fell from China to Brazil. Investors said they were sticking to forecasts for gains in the nation's debt.
Today in Marketplace by Bloomberg
Global market rout battered hedge funds run by Man, Winton and Transtrend U.S. housing rebound remains elusive Nikko's biggest shareholder rejects Citigroup bid
The dollar-denominated bonds returned 9.6 percent in the past year, according to data compiled by J.P. Morgan Chase. The yield on Vietnam's 10- year local bonds has fallen 0.45 percentage point this year to 8.35 percent. Only Thailand had a bigger drop in yields among Asia's 11 most-active markets.
Gains in dong-denominated debt have been helped by a 0.25 percent rally in the currency in December, the biggest monthly increase in more than 11 years.
The yield premium on the dollar bonds compared with U.S. Treasury securities may narrow 0.20 percentage point this year, said Didier Lambert, who oversees emerging-market bonds for Fortis in London. Assuming Treasury yields hold unchanged, that would translate into a gain of 6.2 percent.
Vietnam's dollar bonds now yield about 0.25 percentage point less than similarly rated bonds from Indonesia; 0.87 point less than Pakistan's bonds; and 0.91 point less than Turkey's. The lower yield suggests investors consider Vietnam's bonds less risky.
Vietnam reported a surplus in its current-account, the broadest measure of trade, in 2005 for the first time in four years, according to the International Monetary Fund.
Government officials said they were optimistic that the country would win a higher rating as trade expands. Standard & Poor's in September raised Vietnam's long-term foreign currency debt rating by one step to BB, two rungs below investment grade.
Vietnam's entry into the WTO in January followed a year in which foreign-investment pledges rose 49 percent to $10.2 billion and currency reserves swelled to $11.5 billion. Vietnam's benchmark stock index is up 52 percent so far in 2007, the most in the world.
"We are hopeful that we will receive an upgrade this year," said Nguyen Thanh Do, head of external financing at the Ministry of Finance.
The government had not set the size for its next dollar bond sale, he said. Vietnam may sell as much as $1 billion this month, The Vietnam Investment Review reported last month without citing sources.
Prime Minister Nguyen Tan Dung oversaw 8.2 percent growth in 2006 as Vietnam won pledges from companies including Intel, the world's biggest semiconductor maker, and Posco, the South Korean steel maker, to build factories. The government is predicting the economy will grow 8.5 percent this year.
J.P. Morgan Chase and Australia & New Zealand Banking Group published reports last month saying Vietnam might seek to curb the amount of money that overseas investors funnel into the country to ease pressure on its currency to appreciate.
Thailand tried to limit gains in the baht by announcing in December that it would fine any investor who tried to withdraw stock or bond assets less than a year after buying them. It exempted stocks two days later following a market plunge. It plans to lift the remaining controls on March 15.
The Vietnamese government would probably stop short of imposing similar penalties that prompted funds to boycott Thai debt in December, said Lambert, the Fortis executive.
"They are not forced to follow the same route as Thailand," he said. "They may impose some controls."
http://www.iht.com/articles/2007/03/04/bloomberg/bxinvest.php
I first got in arround December 1st, but have been increasing my possitions every couple weeks (paychecks). And will continue to do so. I see no reason not to, even a 1% return is still a return. Its just way to much fun watching this, and the DONG everyday.
Trav.