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  • Wolverine's Avatar
    Today, 05:43 PM
    6656 replies | 378599 view(s)
  • Investors Iraq News's Avatar
    Today, 03:41 PM
    U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria between Dec. 11-14, conducting 42 strikes consisting of 53 engagements, Combined Joint Task Force Operation Inherent Resolve officials reported today. Officials reported details of the most recent strikes, noting that assessments of results are based on initial reports. Strikes in Syria Yesterday in Syria, coalition military forces conducted 10 strikes consisting of 13 engagements against ISIS targets: Near Abu Kamal, nine strikes engaged six ISIS tactical units and destroyed six ISIS vehicles and a fighting position. Near Tanf, a strike destroyed a weapons cache and two ISIS caves. On Dec. 13, coalition military forces conducted 14 strikes consisting of 17 engagements against ISIS targets: Near Abu Kamal, nine strikes engaged nine ISIS tactical units and destroyed three ISIS vehicles and an ISIS headquarters. Near Tanf, five strikes engaged three ISIS tactical units and destroyed three ISIS vehicles, four cave entrances and a tactical vehicle. On Dec. 12,, coalition military forces conducted seven strikes consisting of seven engagements against ISIS targets near Abu Kamal. The strikes engaged seven ISIS tactical units and destroyed two ISIS vehicles and a heavy weapon. On Dec. 11, coalition military forces conducted six strikes consisting of seven engagements against ISIS targets near Abu Kamal. The strikes engaged five ISiS tactical units and destroyed three ISIS heavy weapons. Strikes in Iraq There were no reported strikes in Iraq yesterday. On Dec. 13 in Iraq, coalition military forces conducted two strikes consisting of two engagements against ISIS targets: Near Rutbah, a strike engaged an ISIS tactical unit and destroyed an ISIS vehicle. Near Tuz, a strike engaged an ISIS tactical unit and destroyed two ISIS tents and a bunker. On Dec. 12, coalition military forces conducted two strikes consisting of two engagements against ISIS targets: Near Baghdadi, a strike engaged an ISIS tactical unit. Near Rutbah, a strike destroyed two ISIS-held buildings. On Dec. 11, coalition military forces conducted a strike consisting of five engagements against ISIS targets near Hawija. The strike engaged an ISiS tactical unit and destroyed two ISIS meeting facilities. Part of Operation Inherent Resolve These strikes were conducted as part of Operation Inherent Resolve, the operation to destroy ISIS in Iraq and Syria. The destruction of ISIS targets in Iraq and Syria also further limits the group’s ability to project terror and conduct external operations throughout the region and the rest of the world, task force officials said. The list above contains all strikes conducted by fighter, attack, bomber, rotary-wing or remotely piloted aircraft; rocket-propelled artillery; and some ground-based tactical artillery when fired on planned targets, officials noted. Ground-based artillery fired in counterfire or in fire support to maneuver roles is not classified as a strike, they added. A strike, as defined by the coalition, refers to one or more kinetic engagements that occur in roughly the same geographic location to produce a single or cumulative effect. For example, task force officials explained, a single aircraft delivering a single weapon against a lone ISIS vehicle is one strike, but so is multiple aircraft delivering dozens of weapons against a group of ISIS-held buildings and weapon systems in a compound, having the cumulative effect of making that facility harder or impossible to use. Strike assessments are based on initial reports and may be refined, officials said. The task force does not report the number or type of aircraft employed in a strike, the number of munitions dropped in each strike, or the number of individual munition impact points against a target. (Source: US Dept of Defense) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 15 view(s)
  • Investors Iraq News's Avatar
    Today, 03:41 PM
    By John Lee. The 12th Economic Forum of the Iraqi-French Council of Businessmen was held recently in Baghdad. Dr. Sami Al Araji, Chairman of the National Investment Commission (NIC) opened the forum with a welcoming speech to the attendees including the Iraqi Minister of Trade, French State Minister for the Foreign Trade Affaires, the Iraqi Governor of the Central Bank and a number of governors, Vice Ministers, Consultants, Director Generals, Heads of Provinces’ Councils, Chairmen of Commercial Chambers and Unions, company owners and businessmen. Mr. Jack Batist Lomowan, French State Minister for the Foreign Trade Affaires concentrated in his speech on the deep relation between the two countries and the serious wish of both governments to enhance this relation in various fields disregarding the big challenges Iraq is facing now. He considered this meeting as a step towards the next donors’ conference in Kuwait. He also mentioned the most important French companies which are interested in working in Iraq in addition to the new ones that are eager to start business here. Oil & Gas, energy, water, and infrastructure are main sectors in Iraq in addition to agro industries and medication plus having the French TALS Co. for fund Insurance and protection for the French companies working in Iraq as France has landed Iraq $450-billion aiming at supporting the Iraqi-French relations specially after the Iraqi Prime Minister visit to Paris last October. He ended his speech by referring to the importance of mutual trust bursting from real political desire of the two leaders to move ahead with the two countries relation and find mutual responsibility and in common interests. Mr. Raghib R. Blaibil, head of The Iraqi- French Council of Businessmen, considered this forum is a precious opportunity for Iraqi and French businessmen to meet and discuss the fruitful business potential for both sides. He also mentioned the improvement in the economic situation after defeating ISIS in Iraq and the victory our security forces achieved on the ground. The will be for reconstructing, bringing the displaced back to their homes and the elevated oil price are strong factors encouraging us to invite the French companies to work and invest all over Iraq strongly and freely with no hesitation or fear. Mr. Blaibil addressed the French airlines companies to start a direct line between Baghdad and Paris after the Iraq opened its airs to the international civil aviation. The Iraqi-French Council of Businessmen representative Mr. Arnold Brolack inquired about sectors Iraq is willing to invest with the French side and what Iraqi aid is available to achieve tangible results after unifying the two parties’ views. Mr. Ali Al Alaq, Governor of the Central Bank, long speech emphasized on the successful financial policies of the Central Bank of Iraq during the past years. These policies, in cooperation with the Ministry of Finance, saved Iraq from the sudden oil price drop shock and unstable economic situation. Dr. Mahir Hamad, Vice Minister of Finance, and Mr. Faisal Al Haimis, Director General of the Trade Bank of Iraq gave their speeches too. Dr. Sami R. Al Araji ended the first session works with a detailed presentation of strategic opportunities available for investment in Iraq. The second session started later where bilateral discussions between the Iraqi and the French parties in different economic sectors took place. French Alstom Transport Co. signed two memoranda of understanding with local governments in Baghdad and Basra provinces to build modern metro with international specifications. (Source: National Investment Commission) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 14 view(s)
  • Investors Iraq News's Avatar
    Today, 03:41 PM
    USAID Counselor Thomas H. Staal, a former USAID Iraq Mission Director and now one of the agency’s top officials, returned to Iraq December 5-10 to advance U.S. efforts to help Iraq’s most vulnerable communities following the defeat of ISIS. While in Baghdad, Staal met with government officials including Dr. Mahdi al-Allaq, Secretary General of the Council of Ministers, to discuss how Iraq can strengthen its support for minority communities. Staal also met with United Nations representatives who are implementing U.S.-funded stabilization programs in Anbar, Ninewa, and Salah ad Din provinces. *He affirmed the U.S. government’s pledge to provide an additional $150 million to this effort. With this new infusion of funds, the United States will have provided more than $265 million for stabilization projects and a separate $1.7 billion throughout Iraq for humanitarian assistance to Iraqis who were displaced by the ISIS threat beginning in 2014. On December 6, Staal traveled to Erbil for a closer look at U.S. assistance to internally displaced persons (IDPs) in the Iraqi Kurdistan Region. *After an initial meeting with the Ministry of Endowments and Religious Affairs, he sat down with NGO leaders and representatives from the Christian, Yezidi, Sabean-Mandean, Kakai, Baha’i, Zoroastrian, and Jewish communities to hear their concerns and needs post-ISIS. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 14 view(s)
  • Investors Iraq News's Avatar
    Today, 03:41 PM
    By John Lee. Ur State Company, which is part of Iraq’s Ministry of Industry and Minerals, has announced an opportunity to invest in the rehabilitation of an aluminium factory. (Source: National Investment Commission) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 13 view(s)
  • Investors Iraq News's Avatar
    Today, 03:41 PM
    By John Lee. Shares in Irish-based Petrel Resources were trading 20 percent down on Friday after the company said it had reached a settlement in respect of the disposal of 2.2 million Petrel shares by Amira Petroleum‘s advisers notwithstanding a lock-in agreement entered into on 19 August 2013. According to the company: *On 14 August 2013, the Company announced that it had agreed to acquire from Amira Petroleum N.V. (“Amira Petroleum”) a 20 per cent shareholding in Amira Hydrocarbons Wasit B.V. (“Amira”), the holder of a 25 per cent carried interest in certain oil and gas exploration and production licences in the Wasit Province of Iraq. The consideration for the acquisition included the issue of 18,947,368 shares in Petrel (representing 19.82 per cent of the enlarged issued share capital of Petrel (“the Initial Consideration Shares”). The Initial Consideration Shares were agreed to be locked-in until the date of spudding the first conventional oil well in respect of Amira’s interest in the Wasit province (the “Spudding Date”) but that, if the Spudding Date had not occurred by 19 August 2018, Petrel could, amongst other things, elect to re-acquire the Initial Consideration Shares for a nominal amount. As part of the agreement with Amira Petroleum, 2.8 million of the Initial Consideration Shares were, at the direction of Amira Petroleum, issued to its advisers in satisfaction of fees payable by Amira Petroleum (“the Adviser Shares”) and were subject to a lock in agreement as detailed above. As of the date of this announcement, the Spudding Date has not occurred. During December 2017, Petrel learnt that 2.2 million of the Adviser Shares had been sold between March and July 2017, notwithstanding the lock-in agreement. The parties have reached a settlement and agreed that the vendors of the 2.2 million Adviser Shares shall make a payment of £100,000 to the Company (representing approximately 4.5p per Adviser Share sold).* The remaining Adviser Shares shall remain subject to the lock-in agreed in 2013. This announcement contains inside information for the purposes of Article 7 of EU Market Abuse Regulation 596/2014. (Sources: Petrel Resources, Google Finance) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 15 view(s)
  • James's Avatar
    Today, 12:41 PM
    Do you have a link to your article? The one I found reads differently. Here is what I found https://www.treasury.gov/press-center/press-releases/Pages/sm0232.aspx 12/7/2017 Washington – U.S. Treasury Secretary Steven T. Mnuchin issued the following statement on the completion of Basel III Capital Standards: "The consensus agreed to by the Group of Governors and Heads of Supervision (GHOS) completes nearly seven years of work on the Basel III bank capital standards. The reforms standardize the approach, improve the quality and consistency of bank capital requirements, and will help level the playing field for U.S. firms and businesses operating internationally."
    30 replies | 2547 view(s)
  • BatmaninIraq's Avatar
    Today, 06:48 AM
    Washington – U.S. Treasury Secretary Steven T. Mnuchin issued the following statement on the completion of Basel III Capital Standards: First off, I’ll use the exchange of a 10,000 IQD (Iraqi Dinar) note as example. To help explain the economics of this cash-in example, I will use a 1:1 cash-in ratio between the USD (US Dollar) and IQD (Iraqi Dinar), that is given a two-tier payout, and a 2% bank spread. What You Will Receive: If you were to cash in your 10,000 IQD note with a bank that charges you a 2% spread, you would personally receive a net take-home of $9,800 credited to your bank account. What Your Bank Will Receive: Your Bank will receive a $10,000 credit to its Federal Reserve Account. They will also be able to add the $200 profit to their “capital account”. Ultimately, the bank wins because they are able to gain $2,000 in lending power under the 10% “Fractional Banking“ model. What the US Treasury Will Receive: First off, the US Treasury will receive $3,500 in estimated taxes in the quarter after the exchange, because you are now in the “rich” category and get to enjoy the 35% tax bracket. This lowers the “net cost” of the IQD exchange to the US financial system to $6,500 USD (i.e. $10,000 out – $3,500 in). Furthermore, the US Treasury’s rate is higher than the banking rate (we will use in this example 1.25), thereby further reducing their “net cost” from $6,500 to $4,000. Oil Now Enters the Picture: At some point, a Fed-appointed agent orders $12,500 worth of oil from Iraq. Payment will consist of a $12,500 transfer from the Fed’s foreign currency reserve IQD account to the IRAQ Oil payment account at the CBI (Central Bank of Iraq) in a form otherwise known as Petro Dollars/Petro Dinar. Even though the world spot price of oil is defined in terms of USD, the actual transaction may take place in any internationally recognized currency agreed to by the parties. How the CBI “RECAPTURES” the Money: The $12,500 order is filled with 250 barrels of oil based on the spot price on the date of the sale (for this example we used a $50 USD spot price). What does it cost Iraq to produce the oil to fill this order? Well they have negotiated productions agreements for approximately $1.50 USD/barrel. From that price $.50 USD goes to the national Iraqi oil company who is the partner in the field the oil came from. Out of the remaining $1.00 the other oil field partners have to pay the Iraq government a profit tax of $.35 USD (35%). The net cost to Iraq to produce a barrel of oil used in this scenario is $.65 USD. (i.e. $1.50 – .50 – .35) What does all that mean? It cost Iraq $162.50 to bring back a 10,000 IQD note! Can they afford that? I think so! So, instead of paying out $12,500 for a 10,000 IQD note, they only pay $162.50! That doesn’t add to the money supply much at all does it! They receive their IQD back and place it in the CBI, or destroy it. The transaction is completed with the Federal Reserve exchanging foreign reserve credits which are equal to $12,500 USD (which had a net acquisition cost of $4,000 USD for the US) for 250 barrels of oil (which has a TOTAL COST to produce of $162.50 USD for Iraq. More completely explained, and simply put, it cost Iraq $162.50 USD from their foreign currency reserve accounts to redeem the value of 10,000 IQD, which goes into their operating accounts. At the same time the US got $12,500 worth of oil for a net cost of $4,000. That’s how it was originally planned for Iraq to RV at 1 IQD = 1 USD, with the variable being the political element (i.e. UN Sanctions, GOI (Government of Iraq) actions, IMF actions, World Bank actions etc.) Other Factors that Strengthen Iraq’s Position and Ability to RV: DFI (Development Fund for Iraq) Funds Returned & Other Assets: $280+ Billion USD, plus other frozen assets (estimated at $100 billion) will be returned back to Iraq and added to their foreign currency reserve, bringing it up to $430+ billion USD. CBI IQD Reserve Requirement Adjustment: The CBI will change the current fractional IQD reserve requirements from 100% to 15% at the appropriate time. As a result, the the total potential money supply will be raised in value to $2.8 Trillion (430 billion/15), while at the same time, the total physical IQD in circulation will be reduced by removing the large bills with the 3 zeros over a period of 2 years, as they have indicated. Oil Production Increased: Iraq will also execute the plan they announced to increase oil production from 2+ million barrels/day to 10 million barrels/day with the resulting revenues flowing directly to the Iraq treasury. Oil Futures & Forex Contracts Added: To further stir the pot, the CBI will continue to use it’s sales window to market oil futures and forex contracts. They have shown they can generate significant cash flow in the private market. Think of their impact in public markets. There, my friends, is how this plan will be enacted and made possible. Taking NOTHING, and turning it into SOMETHING, then bringing it back to a “manageable and reasonable something” that is accepted and supported by seeming endless supplies of oil So, here’s the summary for all the “players” involved, giving ballpark numbers, and not taking into account superfluous costs, fees, and other small details that don’t really affect the larger picture: Investor’s Net Gain: $10,000 – $200 = $9,800 x .65 = 6,370 for an investment that cost $10 Bank’s Net Gain: $200 added to “capital account”, plus $2,000 they can use to loan out. US Treasury Net Gain: $2,500 from the .25 spread on top + $3,500 in quarterly taxes = $6,000 CBI/GOI/Iraqi People Net Gain: $12,500 – $162.50 = $12,337.50 + Profits from “Other Factors” Overall Net Gain for All Involved: $6,370+$200+$6,000+12,337.20 = $24,907.20. This is the wealth that was generated from a single 10,000 IQD note that was given an original value of approximately $10! In this scenario, the IQD is slowly taken back in to the CBI eventually destroyed, leaving a manageable M2 behind, having created huge wealth throughout the world to re-supply what was allowed to be destroyed in the “great bleed” over a period of just a few weeks a couple of years ago, even the greatest redistribution of wealth the world has ever seen. Believe it or not, it has happened for this very purpose, and it is coming!
    30 replies | 2547 view(s)
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