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Thread: Chapter 7 updates! Bigger news!!

  1. #21
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    I'm still here.......... Just don't or won't believe it till I see it, then I still won't believe it. At least the RV that is. Call me cynical but, been around too long I guess...

  2. #22
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    I think there is still a long way to go. I'm doubtful there will be some overnight reval which puts the dinar on par with the dollar. The more likely scenario would be that the IMF pages the dinar to a more realistic exchange rate with the dollar or the GCC currencies. A 3/1 appreciation wouldn't be bad, IMO.
    "I have nothing to offer but blood, toil, tears and sweat." - Sir Winston Churchill

  3. #23
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    Today: UN Security Council votes to remove Iraq from Chapter VII


    Posted: June 27, 2013 in Iraqi Dinar/Politics

    Tags: al-Iraqiya, Chapter VII, Chapter VII of the United Nations Charter, George W Bush, Iraq, iraqi, Iraqi Media Network, United Nations Security Council

    27/06/2013 12:00 AM

    “The output Iraq from Chapter VII, will allow greater freedom for the Iraqi banks to open accounts global transactions banking more broadly. “

    Optimism master of the situation .. And invitations to invest post-liberation of international provisions

    few hours separating Iraq of the Lead World Event Iraqi historical most important and most prominent in the twenty-first century, the recognition by the state that does not threaten international peace and security, and re-integrated into the international community globally through take it out of Chapter VII.

    Read the rest of this entry »


    http://thecurrencynewshound.com/2013...ii/#more-62840

  4. #24
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    Iraq’s full sovereignty of the day; Source: UNSC will confirm Iraq has fulfilled all obligations under CH VII


    Posted: June 27, 2013 in Iraqi Dinar/Politics

    Tags: al-Iraqiya, Ban Ki-Moon, Chapter VII of the United Nations Charter, Iraq, kuwait, Security Council, United Nation, United Nations Security Council

    27/06/2013 12:00 AM

    Optimism master of the situation with the approach of Security Council vote on Iraq out of Chapter VII

    few hours separating the announcement of the international community for historic event is more important for Iraq and the most prominent in the twenty-first century, the recognition by the state that does not threaten international peace and security, by directing from Chapter VII.

    hopes Iraqis to declare the UN Security Council on Thursday at seven in the evening the country out of the provisions of this chapter after the recommendation of the UN Secretary-General Ban Ki-moon in a report submitted to the Security Council in which he said: “Iraq has fulfilled all its obligations.”

    Read the rest of this entry

    http://thecurrencynewshound.com/2013...ii/#more-62834

  5. #25
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    Legal Expert: Iraq out of Chapter VII will give the freedom to dispose of of economic assets and revenues

    Posted: June 27, 2013 in Iraqi Dinar/Politics

    Tags: Baghdad, Chapter VII of the United Nations Charter, Invasion of Kuwait, Iraq, kuwait, United Nation, United Nations Security Council, United States

    Baghdad – and babysit – legal expert said Saadi Ghraoui that Iraq would emerge from Chapter VII-VI came result Aafah the international commitments which was caused by the previous regime’s invasion of Kuwait and reflected negatively on the Iraqi reality and subjected to the pressures of the most important international undergoing this item.

    Read the rest of this entry »

    http://thecurrencynewshound.com/2013...enues/#more-62

  6. #26
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    Legal expert: lifting UN sanctions on Iraq means lifting UN custody on Iraqi funds abroad


    Posted: June 27, 2013 in Iraqi Dinar/Politics

    Tags: Baghdad, Chapter, Chapter VII of the United Nations Charter, Iraq, kuwait, United Nation, United Nations Security Council, United States

    Thursday, 27 June 2013 09:57 | | |

    Baghdad (AIN) -The legal expert Ahmed al-Ibadi described reliving Iraq from the UN Chapter’s Seventh Chapter as lifting the custody on the Iraqi frozen funds abroad and giving the Iraqi government freedom to utilize these funds and restoring the country to its regional and international surrounding.

    Read the rest of this entry »


    http://thecurrencynewshound.com/2013...ad/#more-62826

  7. #27
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    Iraq is a giant…

    Iraq is a giant that’s waking up and the opportunities are immense
    – Mayank Malik, Citigroup CEO

    http://www.bloomberg.com/news/2013-0...g-markets.html

    Quote — Posted: June 27, 2013 in Iraqi Dinar/Politics

  8. #28
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    Citigroup Opens in Iraq to Tap $1 Trillion of Oil Spending

    By Stefania Bianchi - Jun 27, 2013 7:46 AM CT

    Citigroup Inc. (C), the U.S. lender scaling back in some emerging markets, said it’s seeking to benefit from an estimated $1 trillion of infrastructure spending in Iraq as the country rebuilds roads and bridges after the war.

    The third-largest U.S. lender by assets this week received approval to open a representative office in Baghdad and will also consider more such offices and branches in the country, Mayank Malik, chief executive officer for Jordan, Iraq, Syria and the Palestinian territories, said in a phone interview.
    Enlarge image Citigroup Opens in Iraq to Tap $1 Trillion of Oil Spending

    Iraq is the New York-based bank’s first country opening for six years. Photographer: Scott Eells/Bloomberg
    Enlarge image Citigroup Inc. Chief Executive Officer Michael Corbat

    Citigroup Inc. Chief Executive Officer Michael Corbat. Photographer: Simon Dawson/Bloomberg
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    Iraq is the New York-based bank’s first country opening for six years and comes as Chief Executive Officer Michael Corbat seeks to sell or scale back consumer operations in nations such as Turkey, Pakistan and Uruguay, reversing an expansion strategy into faster-growing economies by former CEO Vikram Pandit.

    “Iraq is a giant that’s waking up and the opportunities are immense,” Malik said from Amman, Jordan. “The most significant opportunities are twofold -- oil revenue generation and infrastructure creation. We estimate this to be $1 trillion initiative over time.”

    Iraq, holder of the world’s fifth-largest proven oil deposits, is boosting budget spending by 18 percent this year to $118 billion. The International Monetary Fund forecasts the economy will grow 9 percent this year, the fastest pace after Libya of 18 countries in the Middle East and North Africa.
    Iraq Business

    Corbat, who replaced Pandit in October, announced last year that the lender would sell or scale back consumer operations in five nations including Turkey and Pakistan as part of a cost-cutting plan that will eliminate 11,000 jobs. In March, Corbat told attendees at a New York conference he might exit businesses in 21 more countries, which he didn’t identify.

    Business in Iraq will come from international companies looking to rebuild roads, telecommunication networks, electricity and water infrastructure amid continuing violence in the country, Malik said.

    Iraq’s stock exchange drew investors in February when mobile operator Asiacell Communications PJSC listed after a $1.3 billion share sale, in the Middle East’s biggest initial public offering since 2008. The country’s two other mobile operators, Zain Iraq and Korek Telecom, plan to sell shares in IPOs to comply with their license requirements.

    “The economic story of Iraq hasn’t changed,” Malik said. “Iraq is the only country that has economic stability and political instability.”
    StanChart Entry

    Foreign banks were barred from the country until after the U.S.-led invasion that ousted the regime of Saddam Hussein. Today, 15 international banks operate there, competing with seven state banks, 23 private lenders and nine banks operating under Islamic rules, according to the central bank’s website.

    Banks in the country are set for growth in earnings and assets as a surge in lending in OPEC’s second-biggest producer outpaces the region. Iraq’s rising oil exports and a drop in the prime lending rate to 6 percent from 17 percent in 2008 are feeding the expansion.

    The five largest privately owned banks boosted their combined net income by 207 percent from 2010 to 2012 and more than doubled earnings per share, according to Singapore-based Sansar Capital Management LLC, which runs a fund with $30 million invested in Iraqi equities. The country has one ATM for every 100,000 residents, compared with a regional average that’s 32 times higher, according to Sansar’s report.

    Standard Chartered Plc has said it will open branches this year in Baghdad and the city of Erbil, followed by a third office next year in the oil hub of Basra.
    HSBC Exit

    As Citigroup and Standard Chartered enter the country, HSBC Holdings Plc (HSBA), Europe’s biggest bank, said June 25 that it may sell its 70 percent stake in Iraq’s Dar Es Salaam Investment Bank following a strategic review. HSBC will explore options for a sale and won’t subscribe to shares of the investment bank as part of its proposed capital increase, it said. HSBC bought the stake in 2005.

    Iraq has seen an upsurge in violence since the U.S. withdrew its last combat troops at the end of 2011, reflecting tensions between Sunni Muslims and the country’s Shiite-led government. Terrorists killed more than 1,000 civilians and security forces in the country in May, surpassing the 712 killed in April, which was the deadliest month since June 2008, the United Nations mission to Iraq said in June.

    “The political backdrop may cause some delay or distraction, but the economic fundamentals of Iraq haven’t changed,” Citigroup’s Malik said.

    http://www.bloomberg.com/news/2013-0...g-markets.html

  9. #29
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    This is really good news if true.

  10. #30
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    Its True paynes! FULL SOVEREIGNTY FOR IRAQ IN ONE HOUR MY FRIEND!!!!!

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