Iraq’s army encircles Islamic State in Mosul’s Old City: military
Iraq’s army said it encircled Islamic State’s stronghold in the Old City of Mosul on Tuesday after taking over an area to the north of the territory.
The army’s 9th armored division seized al-Shifaa district alongside the western bank of the Tigris river, a military statement said.
The fall of Shifaa means the Old City in the eastern half of Mosul is now surrounded by U.S.-backed government forces, deployed north, west, south and across the river.
______________________________________________________________
Follow us on twitter @DinarUpdates !!
Dinar Updates – “Facebook Live” w/BGG!! June 20th – 8:00 pm CST – !!
www.DinarUpdates.com – save as favorite
______________________________________________________________
Iraqi forces foil IS attempt to retake liberated areas in western Mosul
Iraqi forces repelled on Tuesday an attempt by Islamic State militants to retake areas under security control in western Mosul as forces moved deeper in the group’s last enclave.
A security source told Shafaq News that Iraqi warplanes killed 23 IS members who were trying to sneak into al-Dindan district, south of the Old City, IS’s last enclave in Mosul. The source added that the militants were planning to take over government buildings including the courthouse and the local police department.
Iraqi forces took over Dindan district in March.
Iraqi forces, which invaded the medieval Old City district on Sunday, are primarily eyeing the Nuri al-Kabeer Mosque, the place where IS supreme leader Abu Bakr al-Baghdadi proclaimed taking over a third of Iraq and Syria in 2014.
Iraqi forces took over eastern Mosul in January and have been sweeping through the western side since mid February.
A few hundred IS fighters are believed to be entrenching in the Old City, seeking protection in the middle of 100.000 civilians who are believed to be used as human shields and shot dead once trying to escape.
Read more: http://www.dinarupdates.com/showthread.php?50649-Iraqi-forces-foil-IS-attempt-to-retake-liberated-areas-in-western-Mosul
______________________________________________________________
Enorrste Article: “The central bank prepares banks and transfer 25 million per month” Here is my take on this important development. It occurred to me that what we are seeing here is a plan to use some of the reserves to reduce the money supply in Iraq. The article makes clear that there is not a corruption problem. However, they are still putting some limits on the exchange (dinars for foreign currency). Furthermore…the CBI is making it clear up front that the banks will not be allowed to take advantage of the public who wish to purchase foreign currency. This means that they will be forced to give the foreign currency at the official rate rather than the market rate. As word of this gets out there will be more and more people who will want to surrender their dinars at that rate, thus saving many dinars by getting the foreign currency below the market rate. [post 1 of 3….stay tuned]
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
MadDScout(Dinar Guru) – Article: “The Association of Private Banks appoints a temporary chairman” Quote: “the president of the association was accused by specialists on many charges, including providing false information to the Central Bank of Iraq to achieve personal benefits…” I like this one because it speaks to internal house cleaning…House cleaning within the banking association. It says that eventually being corrupt will be of no gain.
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
Saudi Arabia: Our hearts are open and all doors are open to economic cooperation with Iraq
Prime Minister Haidar al-Abadi discussed with Saudi King Salman Bin Abdul Aziz the strengthening of relations between Iraq and Saudi Arabia, stressing that all doors are open to cooperation with Iraq and are ready for joint cooperation in all fields.
A statement issued by the Office of Abadi said that he discussed with King Salman ways to enhance cooperation and develop relations between Iraq and Saudi Arabia in all fields.
King Salman expressed his heartfelt congratulations to the Prime Minister and his accompanying delegation. He said that our hearts are open and all doors are open to cooperation with Iraq and are ready to help and cooperate in economic, trade, borders, private sector, businessmen and mutual interests.
______________________________________________________________
Be courteous to all, but intimate with few, and let those few be well tried before you give them your confidence. George Washington
______________________________________________________________
Iraqi gov’t to tender oil bids in Dubai stocks market
The Iraqi government is planning to tender four million barrels from Basra’s crude oil in Dubai energy stock market, a well-informed source said on Tuesday.
This will mark the first oil tender bid for Basra’s crude oil in Dubai’s stock market.
Two shipments, each consisting of two million oil barrels, will be shipped from August 26 to 28.
______________________________________________________________
Governor of Diyala to British Ambassador: Our doors are open to your companies and investors
Baghdad – Journal The Governor of Diyala Muthanna Tamimi during a meeting with British Ambassador in Baghdad, Frank Baker, the readiness of his province to receive British companies and investors, to contribute to the implementation of projects and construction and reconstruction are available.
A statement issued by Al-Tamimi’s office received a copy of the Journal News that the governor briefed the British ambassador on Diyala’s economic, investment and investment opportunities.
Tamimi said in the meeting, the readiness of his province to receive British investment companies, especially that “the stability of the security situation in Diyala will encourage to bring investors to it.”
While the British ambassador expressed his country’s readiness to provide assistance in the file of reconstruction and investment projects in the whole of Diyala.
Diyala province is witnessing security and economic stability after the liberation of the areas controlled by “Dahesh” during the year 2014.
______________________________________________________________
Turkey offers Iraq reconstruction of Mosul
The spokesman for the Turkish President, Ibrahim Kalin, said that Turkey is ready to help Iraq in the reconstruction of Mosul after the liberation of the militants of the “Isis” terrorist.
“We are ready after the end of the process of liberating Mosul completely to rebuild it in addition to building what is destroyed in other Iraqi cities,” Kalin told a news conference in Ankara.
It is noteworthy that the Iraqi army and security forces in addition to the popular mobilization forces headed by the airlift supported by the US-led coalition aircraft and the Iraqi air force, towards the old neighborhoods in Mosul, the last remaining under the control of the terrorist organization “Isis”.
The remaining neighborhoods under the control of the organization’s militants were announced in the western part of Mosul on May 27, and 180,000 civilians are still trapped in those neighborhoods and used by the organization’s militants as human shields.
According to the Iraqi Operations Command, only 500 terrorists remained in the city.
Read more: http://www.dinarupdates.com/showthread.php?50369-Turkey-offers-Iraq-reconstruction-of-Mosul
______________________________________________________________
BGG [kinda get the feeling that this is never gona happen and eventually they will go to the dollar.] With all the support and conversation with the IMF – WB – UN… that is not the posture they are preparing…everything they are (the above mentioned groups) projecting lately is the image of progress.
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
BGG (Dinar Guru) – Mosul is it… I have said all along…I would like to see what the news cycle looks like right after Mosul is done. I had some guy message me “why is Mosul taking so long“? They are dug in – they know they will die and have NOTHING TO LOSE…this may take just a bit..let’s all just take a breath and let this whole thing play out…and then… I also said – I want to get a feel for what the News Cycles look like after – for a week or two…this will be the tale of the tape. …sit back…and let them do their thing…and BTW – it’s not like they haven’t told us in so many ways – what they intend to do. They have – over and over and over and over.
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
The first investment conference was held for the end of July
Trend Press / Baghdad The Chairman of the Sub-Committee for Investment in the House of Representatives Burhan Mamouri agreed with the National Investment Commission to hold a special investment conference in Diyala province to view all investment opportunities in the province and in various sectors.
Al-Maamouri said in a statement received by “Trend Press” on a copy of it, “he met with the President of the National Investment Commission Sami Araji and it was agreed to hold a special investment conference in Diyala in late July or early August, which will be presented all the investment opportunities available in the province and include various sectors “Agricultural, industrial, health, education, transport, public services, infrastructure projects, housing,” noting that “a committee formed in the National Investment Commission for the preparation and urbanization of this conference.”
He added that “the trend towards investment is the only solution to improve the service and urban reality of the province and funding new projects in the field of infrastructure and job creation for young people, especially in the light of low oil prices and the absence of a state budget to finance these projects, noting that the province and during the past three years did not receive any Amounts within the general budget, which led to the cessation of all projects and the inability to maintain the service needs of citizens with increasing population growth in addition to the widespread phenomenon of unemployment among young people.
Al-Mamouri said that the committee of economy and investment parliamentary was able to complete the new investment law and vote on it in the House of Representatives, which is one of the best investment laws since the emergence of the Iraqi state, where exceeded all previous problems that were impeding the process of investment in all areas and provided facilities and privileges for large domestic and foreign investors And work at the beginning of a single window in coordination with the National Investment Commission. ”
He called on “all local and foreign investors to participate in the conference and to see the investment opportunities available in the province of Diyala, noting that the province has a large natural and human resources and a location that allows it to play an important role in the trade process being the link between the north and center of the country and has border crossings with The Islamic Republic of Iran in addition to its proximity to the capital Baghdad. ”
______________________________________________________________
Election of Iraq to the Governing Council of the International Labor Organization
Trend Press / Baghdad The State Department announced on Thursday that Iraq was elected as an alternate member of the ILO Governing Body for the 2017-2020 term for the West Asian Group.
“Iraq was elected an alternate member of the ILO Governing Body for the period 2017-2020 for the West Asia Sub-Group during the elections held during the 106th Session of the International Labor Conference At the organization’s headquarters in Geneva. ”
The statement added that “Iraq has 210 votes out of 253 votes, although the number of votes required on the complex is 127, which makes the second Iraq on his group (ASPAG).”
The statement said that “this victory in the framework of the efforts of the State Department to mobilize international support and support to restore Iraq to its leading position in the international community and access to advanced positions in the United Nations and its competent agencies.”
Read more: http://www.dinarupdates.com/showthread.php?50379-Election-of-Iraq-to-the-Governing-Council-of-the-International-Labor-Organization
_____________________________________________________________
The Iraqi parliament welcomes the adoption of trade for the first time on two articles of supply from the local product
A member of the House of Representatives Hammam Hamoudi welcomed the adoption by the Ministry of Commerce on the local product in the provision of ration card items of “sugar and edible oil” for the first time since 2003, considering it an important step towards supporting the national product and stopping the external importer.
Hamoudi stressed the need to continue this step and expand it in order to contribute to the advancement of the processing of food “Iraqi” through the factories of the national stalled and the workers sincere and adapted to the needs of the citizen.
______________________________________________________________
Kaperoni (Dinar Guru) […is it better for Iraq to rebuild itself at the present rate or at a re- established rate?] …at this point and time, it does not matter what the exchange rate is regarding rebuilding…since the primary source of revenue is oil sales (95%) which is paid in dollars. And since the dinar is not globally convertible, Iraq pays for goods in dollars. So in that sense they are on the same playing field we are on in the US when we pay for goods. The real benefit comes when the CBI can begin to raise the value to offset inflationary pressure created by investors and investment along with meeting IMF Article VIII compliance. The result will eventually give the citizens a better life, greater purchasing power and most importantly the ability for the CBI to keep its dollars and pay in dinars.
Read more: http://www.dinarupdates.com/observer
______________________________________________________________
Cabinet votes to release salaries of Nineveh employees
[Asharq Al-Awsat] The Iraqi Council of Ministers voted during its weekly session on Tuesday to release the salaries of Nineveh province employees who have been found not to be linked to the organization.
A statement issued by the office of Prime Minister Haider al-Abbadi and told Ashqaf News that the vote on the release of salaries of employees of the province of Nineveh, who checked security by the security audit team of the Ministry of Interior or by the national security.
The Council also voted to approve the recommendation of the emergency meeting of the Civil Crisis Management Unit concerning the exclusion of the Ministry of Construction, Housing, Municipalities, Public Works and the Municipality of Baghdad in paragraph (3) of the Council of Ministers Resolution No. 329 of 2015, 2017 for purposes of water purification exclusively.
A position was also presented to prepare the employees who received their salaries in the liberated areas and to prepare those who did not receive their salaries with a statement of reasons.
The Council decided to form an operations room in the Ministry of Finance to resolve the problems that appear when the Ministry of Finance audit of payroll lists and continue its work after the official working hours until the completion of the task in the presence of directors of formations responsible for salaries from ministries whose salaries were delayed in Nineveh province.
The Council of Ministers instructed the Ministry of Health to complete the required numbers for grades (central appointments) and submit them to the Ministry of Finance and the Ministry of Finance to include the required allocations within the supplementary budget for 2017.
A vote was also made on the payment of dues to the truck drivers of the Ministry of Commerce, which contributes to support the security forces.
The vote on funding allocations of the Ministry of Education, and directing the Ministry of Finance to open documentary credit for the purchase of textbooks in the form of financial optimization and depending on the allocations approved by the Ministry.
The Council discussed the treatment of traffic jams in the province of Baghdad and was presented a study at the short, medium and long.
_____________________________________________________________
BGG (Dinar Guru) – “Our economy is space. Monetary policy is an example” The…article is a VERY HARD translation – BUT IMHO FILLED with DEAD GIVE-AWAYS! …for those pouting about not being rich yet – this is one more log on the FIRE! What it means is – they are doing things (up until now) this economist doesn’t understand and can’t explain. Quotes: “…we urgently need a new economic philosophy that leads to generating development And to expand the supply and demand for local production in all its variants, especially in an important aspect of monetary policy is dealing with the value of the development of the dinar or the liberation of the value of the dinar...” “The liberalization or floating of the currency is not strange or innovative in the money market, it is a tool of the monetary policy…” BOOOOM…That’s all I have to say. That is a DIRECT narrative on the state of the currency value in Iraq. This was published yesterday. Cannot be anymore direct.
Read more: http://www.dinarupdates.com/observer
______________________________________________________________
Grant for the development of Iraqi ports
Economy News _ Baghdad: The Ministry of Transport announced Thursday that it has received a grant from the United Nations Educational, Scientific and Cultural Organization (UNESCO) for the rehabilitation and development of ports in the country.
The Director of Media Iraqi Ports Company of the Ministry, Nimr Abdel-Moneim net in a press statement received by “Economy News”, “The company is in receipt of a grant by the United Nations (UNICTAD) of the United Nations, to develop the reality of ports in the country, Lists the needs and requirements of all ports, in addition to the requirements of the Institute of ports of equipment and training devices, noting that the Institute continues to establish training courses to develop the capabilities of the staff working in this area.
He added that the company is working within the framework of an expanded plan to develop and qualify all ports in the country in order to raise the financial revenues of the company in particular and the treasury of the state in general, pointing out at the same time that it intends to establish a container terminal at the port of Faw after the arrival of the project of the Caspian East and West stages Advanced achievement “.
Al-Safi pointed out that “the company has implemented several projects during the past period, contributed to improving the financial reality, including projects, the establishment of new berths and improve the depth drilling to allow the entry of giant vessels to increase the movement of trade.”
He explained that “ports are at the time besieging an important commercial center in the transport of goods, especially as the country enjoys an important strategic position, which contributes to the increase of ports, which is becoming an important economic resource for the country and provide job opportunities for the unemployed.
The province of Basra has a number of ports, Umm Qasr, Khor al-Zubayr and Abu Flus, and the stronghold, while work is underway on the completion of the port of Faw to be one of the largest ports in the region.
Read more: http://www.dinarupdates.com/showthread.php?50373-Grant-for-the-development-of-Iraqi-ports
______________________________________________________________
Kaperoni (Dinar Guru) – Artile: “Experts: float the currency needs to be a productive economy and not Rieia (rentier)” Quote: “…to float the currency now in Iraq can not talk about that simple, as needed to advance measures…it could be done if the transformation of the Iraqi economy from a yield to productive…” This is actually a really good article because they state very clearly that under the current conditions they cannot float the dinar…and only once the market economy begins can they do so. So we continue to wait for Iraq to set the stage for investment. Pass the needed laws, get the dinar in compliance with the IMF, etc. to move to Article VIII. Only then will we see the dinar float and rise based on market forces. I am hopeful that yet this year we can see that happen.
Read more: http://www.dinarupdates.com/observer
______________________________________________________________
BGG (Dinar Guru) – I am very excited about the current state of things. I am very excited about the next short time frame… I think we are in an incredible window of time right now…and I do feel – if things advance as they have been – we could be very, very close. Maybe not today or tomorrow, but legitimately CLOSE. Unlike ever before. (keep in mind – we have been close before – the CBI had planned on 2013? sometime and put it off). According to the SIGR Report. We are close. REAL CLOSE.
Read more: http://www.dinarupdates.com/observer
______________________________________________________________
______________________________________________________________
BGG (Dinar Guru) – Article: “Iraq offers compensation settlement and Kuwaiti debt against investment” Quote: “…the meeting also discussed the file of compensation with the State of Kuwait and ways to settle through the window of investment inside Iraq.“. two separate items talked about – how to pay back Kuwait (not to be confused with) – their eagerness to settle investments inside Iraq? One of the big problems needing dealt with – is they have few mechanisms in place to safe guard investors. Why would the IMF care about Iraqi investors. They don’t – this is referring to OUTSIDE investors. Period. Really good news – entering final talks – it appears.
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
Kaperoni (Dinar Guru) – Article: “ATMs for MasterCard card users” …it is fun to watch all the pieces be put in place for the economy to take off. Iraq is literally going from the stone age to the 21st century with technology in a few years.
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
Adam Montana (Dinar Guru) – [What will happen to the other major currencies when the CBI RV’s the IQD/USD exchange rate? The countries using the EUR, the GBP, the CHF, the JPY, and the CNY all have international corporations invested in Iraqi oil with contracts based on today’s exchange rates. How will a radical upward IQD/USD RV (which effectively decreases the value of the USD against the IQD) affect the EUR/USD and the GBP/USD and the CHF/USD and the JPY/USD and the CNY/USD exchange rates? Will these other major global currencies also be devalued and what in your opinion will that do to an already stressed global economy?] This is a great question, because it opens up the floor to discuss how an RV is really a zero-sum game, mostly because we are talking about a fiat currency. When the FED prints more USD, we don’t actually gain that money. It just dilutes the dollar a little bit more. IQD, and an RV of the currency, works the same way, just on a global scale. My opinion is that almost every other currency will take a slight hit, and then rebound once the IQD rate stabilizes, and within about a month all currencies will be back to normal… except the IQD will be dramatically different than it was a month prior.
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
Click this link to join the DU “private” FaceBook Group…
https://www.facebook.com/groups/571383766355188/
(go here and ask to join… then add some Dinar Friends!!)
______________________________________________________________
Iraqi Dinar/Dollar auction 06-20-17 (most recent listing)
Currency Auctions Announcement No. 3469
This daily currency auction was held in the Central Bank of Iraq on the 06-18-2017
| DETAILS | NOTES |
| Number of banks | 39 |
| Number of remittance companies | 10 |
| Amount sold at auction price (US$) | 159,562,250 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 159,562,250 |
| Total offers for selling (US$) | —– |
Read More: http://www.dinarupdates.com/observer/
______________________________________________________________
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1184.000 | 1182.000 |
| Euro | EUR | 1325.962 | 1325.299 |
| British pound | GBP | 1515.757 | 1514.999 |
| Canadian dollar | CAD | 895.884 | 895.436 |
| Swiss franc | CHF | 1219.613 | 1219.003 |
| Swedish krona | SEK | 135.962 | 135.894 |
| Norwegian krone | NOK | 140.286 | 140.216 |
| Danish krone | DKK | 178.289 | 178.200 |
| Japanese yen | JPY | 10.663 | 10.657 |
| Special Drawing Rights |
SDR | 1636.868 | 1636.050 |