Millionday

Part 1 Millionday & People Invested News Discussion
10/27/2013

3 Comments

Millinday News 10-26-13

[millionday] let me say the latest news has been so encouraging and tonight is no different smile so with that said --

[millionday] Concluded the second conference on Iraq for oil and gas to the importance of Iraq 's stepping his proof to meet global demand by processing markets by raising production, according to the strategic plans drawn .

The conference went toward the hiring of scientific research to be complementary to the effort in the field of oil fields and activate and develop local expertise to the global refineries , as well as the young develop expertise in parallel with the adoption of the results of scientific research in the development of the oil sector.
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[millionday] Sabah met on the sidelines of the conference a number of stakeholders to clarify the importance of this conference , he said Oil Minister Abdul Karim and coffee in an interview ( morning) that the goal of the ministry increase production gradually, as we work to reach production to 3.5 million barrels / day coming period down to 8 million barrels per day, 2018 , pointing out that the conference comes to integration efforts and field theory.

He pointed out that efforts are continuing to cadres of the ministry and investment companies to develop the oil sector in all his joints , exploration and production, and distribution.

Either the President of the advisers Thamer Ghadban said applaud held scientific conferences on topics of oil and gas , stressing the importance of scientific research in the development of the energy sector in terms of addressing the problems and then processors field scientific for the sector,

pointing out that the drop- organizing scientific conferences specialized were the reasons for the last period and witnessed the events , and today returned organization of conferences,

this second conference which deals with the affairs of the oil sector to be held by the Ministry of Oil , which would contribute to the development of competencies and field management .

He added that research and development must contribute in fact an integrated study of the field of employment to economic aspects such as marketing and other important things that contribute to raising the country's financial revenues .

[millionday] note -- very nice to see they are in the stages of beginning trained employment -- they would be the ones that have worked to get familiar with new technology and advancements etc -- so very nice for them as well -- note -- as in here they go to a global economy -- nice

[millionday] Stressing that these studies and research that are addressed in this conference and other conferences to Atsahm rapidly in the development of the oil sector , but to be in the form of construction of continuous driving to raise oil production , and this is an ongoing effort .

Lama and Deputy Minister of Oil Fayyad good grace he has become to Iraq clear goals to contribute to the global economy , so it should walk seriously and solid steps for the processing of global markets , and this requires an extraordinary effort and record periods

[millionday] note -- wow we have seen so many conferences in the recent weeks and upcoming --

[millionday] He pointed out that work is underway to increase production in accordance with strategic plans set by the Ministry. Confirmed the existence of effort exploratory continued in most parts of Iraq , pointing out that the country has become owns a large fleet in the field of drilling and reclamation to contribute to increase production ,

and called for the development effort of research and development for the advancement of production . He pointed to the importance of holding international conferences to benefit from the experiences of other countries and reverse clear picture of the potential of local research and field

[millionday] Electricity Minister Karim Aftan In a statement to the (morning) said that his ministry viewed with attention to such conferences because it is in the end in the service of the electricity sector which works integrative with the Oil Ministry , where electricity production depends on the extent provided by the Ministry of Oil of derivatives covering stations need electricity production .

He said that we are blessed so conferences and follow what lead him by the results .

[millionday] so as we see -- oil conference – nice brb with more -- much more – smile the best part is that this is preparation to meet global demands -- very nice

millionday] this report is absolutely fantastic --- i love the fact that we are invested in the country they are referring to here --- smile

[millionday] Economists predicted that Iraq occupies a leading position internationally in terms of owning investment opportunities with the escalation of the higher growth rates in the economy , which began a gradual transformation to a market economy .

Economic expert, Dr. Majid Mohamed Hassan said in a statement ( morning): "Iraq will be one of the first countries that attract the investment in the world in the field of natural resources, an anchor on several factors , including out of Chapter VII , and access to international relations real equal , as well as using all kinds of technology, are all contributing factors to the development process and attracting investment in the country .

[millionday] " said Hassan said that the natural resources in the country is very large, as oil accounts for a third reserves in the region , as well as gas reserves , oil and seed ranked 12 in the world.

noted that a report published newspaper "The Wall Street Journal," the U.S. noted that Iraq class ranked ninth among the most of natural resources in the world.

the report indicated that those resources of about 15.9 trillion worth of oil , gas and phosphate, as it has been calculating the value of natural resources based on the goods of natural resources the ten most valuable , namely oil and gas, coal , forestry and timber , gold , silver, copper, uranium , iron ore and phosphate.

[millionday] note -- huge to be listed in such a high rank when they have been in such war torn state for so long but they are referring to what they actually have in natural resources so the value here is going to soar -- there is just no other way to put it really --

[millionday] I think the expert problem Atkmen to invest these resources is, they are not external , but mainly are internal dependent on how to manage the money that result from these natural resources , calling for building a state of institutions and alleviate political tensions and ensure the elimination of financial and administrative corruption and bureaucracy, as well as providing the necessary infrastructure , including electrical power , especially it affect Iraq 's relationship with foreign countries invested,

[millionday] note -- with the document of peace and the national conference -- erbil etc -- they have overcome so many of the issues we have witnessed over the years but all governments still have problems -- called -- politics

[millionday] Hassan said that according to the National Strategic Plan for energy , it confirms that there are efforts being made in a very large in order to improve these resources to get the biggest financial returns from them . In turn, said a spokesman for the Ministry of Planning Hindawi in a press statement: "

Iraq is seeking to increase exports to the wealth of the nature of the oil and natural gas towards urged the pace for the development of sectors of national development ," noting that the five-year plan 2013-2017 will take it upon themselves to develop some vital sectors to be suitable substitute for oil in the coming years .

[millionday] note -- notice that the five year plan has a gradual change in complete reliance -- that is great to see i am sure for investors and of course all organizations expecting the change in time

millionday] The natural resource experts stressed that the Iraqi environment rich environments teeming with riches , but the bet remains on how to invest this wealth look Off fortunes in some cases. , But the environmental expert Hadi Nasser said : "

The global report omitted a lot of other resources in the Iraq -like substance red mercury in southern Iraq, which is considered a rare and unique at the same time . "

It is said that Russia was ranked first in the evaluation of the newspaper American natural resources worth an estimated 75.7 trillion dollars thanks to its multi- especially oil and gas, forestry , while replaced the United States in the second place with 45.55 trillion.

[millionday] very nice report --- very nice -- brb with more – smile so get ready to smile and understand that this is so wonderful to report and also great to read so read every word smile

[millionday] Called adviser in matters of international trade and economic expert Tawfiq inhibitor to activate the quota system to improve the commercial reality in the country.

The inhibitor in a statement ( morning) : "It must be put stats determine the amount of the country's need for goods and food." He added advisor , said the system should be linked to banks through determining the amounts payable to import goods and foodstuffs ,

as it includes the amount needed country her. was the CBI had announced earlier approval of the introduction of the quota to support all the banks and improve the commercial reality in the country, as you know quota trading system in the presence of a fixed roof of prices imposed by the government to the traders and shop owners and sell goods and materials price specified whatever the circumstances.

[millionday] and we have pricing to be activated so now is a good time for a huge whooop whoooop

[millionday] smile

[Sager] you need a reality rate for that!!!!

[millionday] oh boy -- the quota system has a fantastic ring to it ok now let me get myself back together and bring some more in -- love that love that -- oh i said that smile this is a very long report and also very important it is about the currency and we need to read every word

[millionday] It is rare to find in the portfolio was visited and citizens travelling in taxis, currency, often torn or are using tattered for frequent use and exposure to various conditions of heat and cold and frequent trading, it is important that they have become a source of concern,

since frequents many taxi owners and sellers receive their money after they became old, and paste the Ripper of an argument difficult, suffering many daily prescription of paper currency and fears of fraud which have undergone, And lack of action by stakeholders, need to be considered seriously in line with reality in which they live. and here says '

[millionday] note -- this is talking about the results of having torn and ruined currency -- in this section it is referring to taxi drivers -- smile

[millionday] Musab Abdul Sattar (retired): this phenomenon exists in every country of the world, but they deal with it naturally, contrary to what exists in our country, it is assumed that the banks to isolate the affected banknotes and printing new alternatives; to facilitate trading those currencies, wondering, Why not print new currency rather than battered and distribution?.

This is what we experience during our salaries pension sue us every two months, it is often Torn.

[millionday] Hamid Fadhil () adds that the majority of Iraqi banks impose those currencies to account managers who distribute as staff salaries, those who will suffer are cashing in markets that are not accepted. While Haider Hussain (taxi driver) that our currencies national non-paper are made from fine, print is good, the risk of damage, sometimes we are forced to accept those damaged coins of citizens after the despair of having another good, noting that if our citizens are to accept these currencies during our dealings note -- some comments given by citizens

[millionday] Suad Ibrahim ( employee ) to consider the need to be replaced ministry Currency damaged and pumped to the market a new currency from the currency shabby itself, and the launch of currency small ;

to stop the rise in prices as a result of the absence of these categories , as well as re-work coin to preserve the paper currency from damage.

Complained Nadia Mohamed ( housewife) rejection of most of the shop owners and taxi receipt of some currencies under the pretext of damage to note that I obtained through Tdaa the needs of the home of one of them, the currency was imposed on us by the state did not announce expiration must be accepted to deal with whatever happens .

millionday] note -- obviously it would be very annoying if the price went up because the smaller bills were not available --

[millionday] The peace Mustafa ( dealer ) , referring to another problem experienced by the majority of colleagues his career from the Iraqi currency , which it does not fit in business dealings ;

because the largest category in which a small value to our work, as well as the speed of damage to the poor quality of the paper used in the industry , so we have to dealing in foreign currencies (the U.S. dollar ) for easy carrying and the difficulty of forgery and good quality

millionday] note -- of course against the law as we saw put in place -- the currency is the dinar in this country

[millionday] And after all that alone citizen bears the results of currency shattered and subsequent fraud , which led to an asylum a lot to deal in foreign currency and the most important of the dollar, but this does not preclude that some citizens are contributing to tear the currency paper through poor conservation and bend the paper more than once ,

as well as intentionally writing on them, as they prepare Kuwait to convert leaves its currency to the " plastic " and polymer material , resistance to heat , humidity and dust, and had thus preceded by Canada, Australia and some other countries, due to several advantages enjoyed by them : the difficulty of forgery , and resistance to moisture and dust , what keep it clean for a long time , in addition to

[millionday] note -- notice the reference " as they prepare Kuwait to convert"

[millionday] in addition to the ability to resist damage plastic , which prolongs the life of the banknote is made ​​of plastic material by more than two and a half times compared to those currently used , as well as low- cost of printing on plastic compared to the other . Adversely affected from the damaged

[millionday] note -- they are saying they could have wrapped them in plastic to protect them better so they wouldnt have gotten so bad as they waited while not printing new due to the plan to convert as they put it -- the expense was not logical

[millionday] Director of the bank , Dr. Hilal Taan explained that the currency is currently composed of six categories: twenty-five , and ten thousand, five thousand, and this is very good not complain of any problems , but the imbalance is happening in the categories of Alpha and Alkhmsmih and two hundred and fifty dinars being smaller and frequent trading in them.

He added that the Iraqi currency printed by a foreign entity and difficult to forge , but the younger categories suffer rupture being the most in the deal , nor harm from dealing in these currencies as a general situation in all countries of the world and naturally used and accepted by everyone .

millionday] He stressed that if citizens could repeat this case back to the banks and replace damaged currency with new ones , and this issue does not constitute a threat to the movement of the Iraqi market .

And the complicity of some of Trustees of funds in bank branches with the staff of the accounts departments to receive salaries from groups large to get rid of small torn between in the event of a disruption of this kind in any branch of the bank branches can be reported abuser of the Office of the Inspector General in the Ministry of Finance and will take the right measures strict , but

millionday] he also said the General administration of banks provide their affiliates with all denominations meals evenly distributed among the beneficiaries , calling on banks to staff the respect of citizens and treat them well . With regard to the lack of small coins as a result of exposure to damage , said that the possibility of the needs of these groups refer to the banks and replace the large groups that possession of small ones and new ones.

millionday] note -- this is saying that they could do some things to help as in replace again some left that are damaged and only pay with very large denoms that they have pulled in but that the actual help is going to have to be from putting out the small denoms and new currency --- they even mentioned using the old uncirculated coins -- they would need wheel barrels then -- smile

[millionday] Speaking about the Iraqi currency between our currency denominated gold , the Iraqi central bank has more than 30 tonnes of gold and currency reserves of more than 76 billion instead of the balance of the coin , the Iraqi the strong and now owns an asset internationally began dealing in global markets .

He touched on during his speech that the Iraqi dinar witnessed the support and motivation of the moral strength that of Iraq would emerge from Chapter VII proved that Iraq is not a threat to international peace and security and then is a security and stability of the region, strength of the dinar based on

[millionday] three factors: first balance currency of gold and the U.S. dollar , and the second factor indirectly is the mineral wealth such as oil , phosphate , etc., as well as the psychological factor ( psychological ) to the extent of accepting Iraqi citizens and foreign of the Iraqi dinar , believing that we have achieved success in this aspect , as it began to deal in all Arab and foreign countries .

[millionday] note -- in other words they have accomplished the match of the gold and value and have gained trust back of the dinar in other countries and the citizens are used to the idea as well --- they have the mineral wealth to back it up ---

[millionday] In light of the problems caused by paper currency must be addressed to the coin that Iraqi street for many years as a result of economic crises experienced by inflation , which began suffering , they are capable of solving the problem of wear and tear,

but for those involved in other opinions in this aspect , as confirmed Director of the banks that the draft coin exists in all countries of the world , but in Iraq need to be a period of time to accustom citizen them again, as well as the implementation of the plan to delete the three zeroes , pointing out that in the earlier agreement was reached between concerned to postpone the project until the end of 2015, deleting zeros means " the currency's strength in dealing small in size " becomes there is a need to launch a coin .

[millionday] hmmm -- sounds expensive -- i bet that is the worse idea ever smoked

Part 2 Millionday & People Invested News Discussion
10/27/2013

5 Comments

[millionday] Member of the Finance Committee MP Najiba Najib said : It is necessary to restructure the Iraqi currency ; because the existing currency is consistent with the size of state revenues and Iraqi currency in circulation and investment which will hopefully happen in the coming period, cash does not suffice ; because traders , whether they are companies or people resort to deal in foreign currencies for easy portability and trading.

[millionday] She added that the biggest currency cash is from the category of "25" thousand dinars, which is not equivalent to inflation in the markets , we must provide large groups such as "200" thousand or approximately "100" dollars, as well as having the coin to cover all the requirements of market and the citizen.
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And increased engine that fiscal policy is cash , which helps to level the financial system " to get small and large groups the new cash currency and proportionate to the revenue increase year after year , with oil revenue growth ," and this in turn allows the strengthening of the country 's economy .

millionday] wow if they kept that up they could be the first with multi million dollar currency –hmmmm made me laugh out loud -- how funny to suggest such a thing

[millionday] And drew attention to the project to delete the zeros from the currency is not as easy as envisaged by some , as it needs to be studied by the central bank and the parliament and the government and the cooperation of legislative and executive powers ,

otherwise there will be big problems increase the damage and negatives, stressing the need for accuracy and transparency and sobriety destroying old currency to avoid impaired souls.

millionday] note -- so now they are having problems finding sober people to destroy the old notes --

[millionday] too funny here is what the professionals came up with to do >>>>

[millionday] Professor of research and critical theory at the Higher Institute for Research and Studies cash and accounting at the University of Baghdad, Dr. Bashir Alwan al-Lami stressed the need to reconsider in relation to money damaged by the central bank by toggling the damaged ones with new ones is a nuisance to the citizens , especially in their dealings markets and mobility

[millionday] He hinted that in all countries of the world there is a rate of 5 percent can be added by the Central Bank to currency trading related to gross national security and the financial result of the damage and to increase the number of residents and transactions , as well as trade activity ,

and this is what is working even in countries with economic systems conservative , adding that the Government of Iraq credit card is weak and adoption of macro- trading cash should be considered in the renewal of banknotes damaged and distributed among citizens in order to facilitate their dealings , stressing the role of the law in this aspect, since there is no need to impose a fine on those who do not accept the money .

[wmawhite] millionday ,........hasn't the project "delete the zeros" been the most never studied project in the world?????

[millionday] yes -- thats right hun now let me say this notice that they have admitted here that the damaged have been pulled in already because the idea was brought up to redistribute the damaged that had been taken in there is just a little more of the report '

[millionday] Turning to the subject of the currency , saying: It is weak in light of inflation, which we suffer , it is difficult to carry a citizen of large quantities of this currency to contend in the markets and shops " in light of inflation weaken the value of small units ," referring to another problem which counterfeit currency , which affected negative in the Iraqi currency , which led to a lack of confidence of citizens and avoid handled by a lot of traders the transactions in dollars .

millionday] so this last part is pretty much saying that they could just write a new value on them -- and that my friends is the most ridicules comment ever made ---

[millionday] goodness international law -- economics 101 -- ummm -- kindergarten -- all go against that even being considered so -- i hope you noticed the huge smoke on this one -- but pretty interesting they took the time to cover the fact that --- they have some very damaged currency and are in a hurry to get it fixed lol goodness -- i am speechless i dont even know what to say -- that was so ridicules lol

[wmawhite] millionday ...yea,.......what about IMF Article 8?

[LBnFL] Thought they were all using their new cards instead of cash

[millionday] what do you mean?

[wmawhite] millionday millionday ........using one well established currency.

[millionday] not yet -- that will be all at the same time -- not some and not others -- they called to launch the electronic payment system so that will all be launched all at once -- and at anytime

[wmawhite] millionday .....instead of writing whatever on the currency to suit the situation.

[millionday] they cant write on currency or it makes it counterfeit --- not original form lol lol lol and it is stupid lol - sorry -- but it is very stupid for them to put that out there my goodness lol brb with more wow so here is some good news

[millionday] Member of the Committee on economy, investment/MP Salman al-Musawi, the Kurdistan resort to economic independence from the Center, revealing that the territory receives annually more than (20%) South oil revenue and Kirkuk in the federal budget.

He said Callie (News Agency): the Declaration of Kurdistan the economic independence of the Centre would serve the southern governorates, especially oil producers as well as Kirkuk, take advantage of the natural wealth that go over (20%) Them to the territory.

He added: the Government of Kurdistan will not consider independence at this time, but look into the distant future to utilize oil revenues to other Iraqi provinces in the rehabilitation and development of infrastructure of the territory. -

millionday] He noted: the Federal Government with the federal system in all economic fields to benefit all the provinces of the country's wealth, so also amongst now in developed countries as the United States and Germany.

This had a KRG official in anonymity, a faith in the territory for economic independence from the Center, especially after the discovery of large oil fields in the region -

Baxter1243] If Iraq has all of these billions of dollars...and 30 tons of gold.... Why dont they just pay Kuwait the measly 8 billion they owe..get out of Chapter 7 completely. And not deal with Article 8?

millionday] they have an agreement for payment that both kuwait and iraq have agreed to -- there have been multiple formal reports on the issue of debt and

[millionday] the latest was on the 27th of sept --- if you dont count the payment announcement from the united nations on the debt --

[millionday] the complete release of chapter 7 has been done for iraq and they are formally released from sanctions

[millionday] i loved that article and the... amongst now in developed countries as the US and Germany -- love it

[millionday] kuwait and iraq have multiple trade agreements and have a signed convention and consider and refer to themselves as brothers of the region many times -- they have moved leaps and bounds and are no longer drawn together by the UN sanctions of the former regime mistakes

[millionday] brb with more

[millionday] Despite the rapid development in the world of banking, and the recovery of the movement of money in the countries of the world through modern technology, employing the Internet, is still Iraqi banks adopt traditional systems of old, and uses most of its personnel manual methods widely used for the completion of banking services,

causing delay completion of course and increase the opportunities for corruption financial and administrative. director of the Rasheed Bank government Kazem fistula called recently to reconsider the laws associated with the work of banks,

and the introduction of technology in various uses to facilitate the task of the client in dealing with any of these banks. confirmed the Finance Committee in the House of Representatives having technical problems and administrative prevented the development of the banking sector, and

[millionday] this is about the activation of the atms

[millionday] the introduction of new technologies, stressing that the Iraqi banks - both governmental and private - are still lagging behind the world, even from their counterparts in neighboring countries. called Committee member Abdul Hussein al-Yasiri to activate some services,

such as the settlement of financial transactions through mobile phones and the Internet,

And facilitate the use of credit cards, and activate the machines automated teller, to reduce dealing currency paper, which is increasing in size dramatically in Iraq, and to facilitate the completion of transactions on the citizens and traders alike, without the need for a review of the banks, and bear the consequences of carrying cash.

[millionday] stresses economists on the importance of introducing technology Modern banking service of Iraq, and refers Bassem Jamil Antoine, in a statement to Radio Free Iraq that there is exaggeration in the use of cash in Iraq, which resulted in a mass of huge cash circulating in the market today up to 34 trillion dinars. to that justified the President of the Association of Banks Private in Iraq,

Abdul Aziz Hassoun difficulty activating the services of financial transactions electronically, weak infrastructure required for the adoption of this type of banking services and contributed to years of international isolation imposed on Iraq on the retardation services technology,

millionday] , which represented a revolution in the world of banking services in the world, it is not strange that stand some Iraqis when traveling to neighboring countries surprised in front of machines automated teller or the completion of transactions transfer funds, and purchasing online.

For the nature of the movement of cash and services in the banks noticed the employee Mayada Fakhri that most of the customers bank from venture capitalists and traders accustomed to traditional methods of conducting their banking, and worse that a trader which is indispensable for the bank to facilitate its work in other countries, would prefer to deal with cash to resort to the bank to complete the dealings and organize accounts in Iraq.

[millionday] note -- this is more of the reality of where they are bringing in electronic banking and new technology training and a new reality rate and entering the world banking

[millionday] noted Mayada Fakhri Speaking to Radio Free Iraq scene entering cash and leaving bags large-borne porters of the bank's branch in which it operates, noting that most of the owners of the money from the merchants "populists" prefer to store and transfer funds and exchange in a striking manner through large bags and the protection of the protection of personnel and porters.

It also noted that some customers Bank of academics and staff often wonder about the non-activation of Internet services to accomplish their banking, as is common in neighboring countries. recognize Mayada Fakhri that the Central Bank of Iraq urges Iraqi banks on the rehabilitation of its members to deal with the technologies of the Internet in side transactions,

but the level training, rehabilitation and technology available does not guarantee good results, according to her mind. noted that the banking sector in Iraq consists of forty-three banks as well as the Central Bank and distributed by ownership between (7) state banks and 30 banks waged, in addition to (6) foreign banks contributed to the View reporter with Radio Free Iraq in Baghdad, Ahmed al-Zubaidi

[millionday] strange date >> look how long they are working on this october 31st -- hmm

[millionday] Arbil announced the completion of preparations for an exhibition Project Iraq 2013 on Monday 28 th of the month of November, with the participation of more than 650 companies from all over the world.

The Gallery Project Iraq 2013 is the International Trade Fair Sixth materials, equipment and construction techniques and the protection of the environment in Iraq in conjunction with the exhibition Iraq's energy 2013, which is the international trade fair for electricity and alternative energy and water technical and lighting and air conditioning, as well as gallery real estate and investment in Iraq in 2013 is the International Trade Fair for Investment and real estate development in Iraq and continue these activities until 31 of this month of October.

[millionday] not written in dinars

[millionday] And pointed Zana Aozyre of the representative of the Ministry of Construction and Housing in Kurdistan that the high turnout for companies to participate in the exhibition due exhibition's success in opening the doors wide open in front of the regional and international companies to enter the market of construction and reconstruction in the region.

And said Aozyre "There are currently more than 450 projects under implementation in the Kurdistan region at a cost of more than $ 20 billion and that the provincial government awarded about 60 licenses for new projects since the beginning of this year the value and amounted to 2.7 billion dollars."

[millionday] i thought it was very interesting how they stated the pricing didnt you? the prep for that huge international trade conference

[millionday] licenses already given out and remember the travel visas and the one stop shop was done too -- very interesting timing going on for sure smile

[millionday] so i love you all and get some rest --- while you can -- i will be on tomorrow too during the day we will be having daily chats for a little while and news

Hmm ... interesting, not sure about the reference to "red mercury" in the first part, but overall the info seems good. Wordy, but good.