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  1. Central Bank of Iraq Auctions $161,164,580 on 20 November 2017 by Ibrahim Khalil Nov 20, 2017, 1:45 pm 51 SHARES ShareTweetRedditE-mail Report Ad Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on November 20 registered $161,164,580 in sales, a -3.69% volume decline from the US $167,335,660 sold by Iraqi Dinar, credit and transfer at the previous auction held on November 19. The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on November 20 compared to the previous auction. Data for the November 20 auction was made public by CBI Announcement Number 3574. Dollar sales in the in the period January 1, 2017 to November 20, 2017 saw an increase of 0.13% compared to the sales of US $13.9 billion in the same period in 2016. The total amount of US currency sold by CBI in the calendar year 2016 was US $14.55 billion. An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to November 2017, sales of US dollars averaged US $1.78 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion. Year Month US dollar sales in billions Increase/(decrease) compared to the previous month 2016 January 2 – 2016 February 2.09 4% 2016 March 1.95 -7% 2016 April 1.94 -0% 2016 May 2.09 8% 2016 June 1.8 -14% 2016 December 0.4 -78% 2017 January 2.2 450% 2017 February 2 -9% 2017 March 2.1 5% 2017 April 1.8 -14% 2017 May 2.3 28% 2017 June 0.6 -74% 2017 July 2.2 267% 2017 August 2.1 -5% 2017 September 1 -52% 2017 October 2.2 120% 2017 November 1.3 -41%
  2. And another article.. They will nationalize their banks and oil fields at some point if this continues $1 Billion Stolen Per Day Through Currency Auction in Iraq: Investigators Iraq ERBIL — The international team of investigators has revealed that around USD 1 billion is stolen by the Iraqi officials through currency auctions of the Central Bank of Iraq. A source close to Iraqi Prime Minister Haider al-Abadi told Al Ghad Press on Monday that the international team investigating the corruption cases in Iraq has informed Abadi about the involvement of dozens of Iraqi officials in squandering a large amount of Iraq’s money. The officials waste public money and steal it through the dollar auctions of the Central Bank of Iraq, the source said. The investigations revealed that Iraq is wasting large amounts of money, sometimes amounting to one billion dollars per day, because of the difference in the Iraqi dinar exchange rate between the auction and the black market. The source added that the team has completed the investigation of the auction case, and informed Abadi about the corruption. The source noted that Abadi has ordered the Central Bank to adopt international classifications to give banks the dollars and engage them in auctions, in exchange for maintaining the dollar exchange rate, which remained stable at 1,180 dinars to the dollar. http://www.basnews.com/index.php/en/news/iraq/394160
  3. Iraq’s Central Bank reverses decision to close banks in Kurdish region November 15, 2017 at 12:52 pm | Published in: Iraq, Middle East, News Iraqi Central Bank [Wikipedia] November 15, 2017 at 12:52 pm 7 SHARES Share to FacebookShare to TwitterShare to RedditShare to EmailShare to More Iraq’s Central Bank yesterday cancelled its previous decision to close branches of private banks in the Kurdish region of the country, the Anadolu Agency reported. The Central Bank had ordered the branches of private banks in the northern Kurdish region to close down within a week. It threatened to ban dollar sales if they did not abide by the decision. The deadline for compliance was set as 14 November; after it passed the Central Bank reversed its decision saying it did not want to harm “citizens’ interests” in the region. It said that it had cancelled the decision based on the Parliament resolution issued on 12 October which banned harming the interests of people’s basic needs in regard to the punishing measures taken against the region. Baghdad imposed a number of measures against the region in response to the independence referendum held on 25 September. Read: Iraq readies to take control of Kurdish-Syria border Around 3.3 million residents of the Iraqi Kurdish region turned to the ballot boxes to vote for separation from Iraq. News reports said that the turnout rate was 72 per cent. Final results showed nearly 93 per cent in favour of independence, and 7.3 per cent against. The referendum stirred fears of a new regional conflict, with Baghdad putting pressure on Kurds to cancel their overwhelming vote for independence. Kurdistan Regional Government President Masoud Barzani stepped down as a result of the increased tensions and the region’s representatives have recently declared their support for a “united Iraq”. https://www.middleeastmonitor.com/20171115-iraqs-central-bank-reverses-decision-to-close-banks-in-kurdish-region/
  4. Parliament speaker urges world to support Iraqi economy by Mohammed Ebraheem Nov 16, 2017, 11:28 pm 41 SHARES ShareTweetRedditE-mail Parliament Speaker Salim al-Jabouri Report Ad Washington, DC (IraqiNews.com) Parliament Speaker Salim al-Jabouri urged the international community on Thursday to support the Iraqi economy. During a meeting held at the American Chamber of Commerce in Washington DC, al-Jabouri said, “Supporting the Iraqi economy will help improve the living conditions of the Iraqi people during the coming period.” “The Iraqi Parliament was keen to pass a number of laws in the past period to revive the Iraqi economy, particularly after the recent drop in oil prices on global markets,” he said in a statement, a copy of which was obtained by the Baghdad Times news website. Al-Jabouri stressed that the Iraqi government seeks to launch more projects during the coming period, particularly after the liberation of Iraqi territories from IS militants. “Such projects will help provide new job opportunities and empower the Iraqi youth to play a greater role in the reconstruction process of Iraq,” he pointed out. Al-Jabouri further called for mobilizing all international efforts to reconstruct areas liberated from IS militants in Iraq as soon as possible. Al-Jabouri traveled to the United States on Monday to discuss the future of Iraq as well as the latest developments of the fight against terrorism. His visit to the US comes a few days after Vice-President of Iraq Osama al-Nujaifi held a series of talks in Washington DC with American officials. https://www.iraqinews.com/business-iraqi-dinar/parliament-speaker-urge-intl-community-support-iraqi-economy/
  5. Earth Quake

    Thinking about getting Earthquake insurance. But it would cost me minimum $3K a year and thats with a 20% deductible. Been dodging the bullet for twenty years plus now but have a feeling we have a good one coming soon. Been through Northridge and Sylmar quakes and it's a heck of a experience to go through. Hard to walk during a 7.2
  6. Dust storms sweep across Iraq as government solutions falter Wassim Bassem November 10, 2017 Article Summary Dust storms are becoming a growing problem in Iraq, leaving many human victims as well as environmental damages and economic losses in their path, and the government's attempts to counter the storms have so far been unsuccessful. HAIDAR HAMDANI/AFP/Getty Images Shiite Muslim pilgrims walk through a dust storm in Najaf, southern Iraq, Oct. 30, 2017. On Nov. 3, NASA published clear images taken by its satellites of the severe dust storm that hit Iraq recently. The climate changes sweeping Iraq are causing human casualties and economic damages. Hundreds of cases of suffocation were recorded. The Ministry of Health announced on Oct. 30 that there were more than 4,200 cases of suffocation in most governorates, including 528 in Karbala. During the dust storm, the Iraqi Civil Aviation Authority canceled its flights, and Iranian flights to Baghdad and Najaf airports were also canceled. Ninevah province recorded 1,108 cases of suffocation in the camps for internally displaced persons. The storms also affected the course of the battles between the Iraqi forces and the Islamic State (IS). On Oct. 31, the Iraqi forces were forced to postpone the campaign aimed to retrieve the city of Qaim, west of Anbar, from IS because of the lack of visibility caused by the dust storms. While dust storms are occurring in neighboring countries such as Saudi Arabia, Kuwait and even Iran, "Iraq is one of the most affected countries by the storm, at the level of its environment, individuals’ health and economy," said Dr. Amer Habib of the Technical College Musayyib in the Babil province and the director of a project on organic fertilizers in Babil. "This is due to the fact that Iraq is a barren land where vegetation is scarce. Human activities have swept away orchards and agricultural lands, which also led to the decrease of the rivers’ water levels and the lack of rainfall, which resulted in the drying up of huge areas of agricultural spaces." In 2011, the World Meteorological Organization identified dust storms as a natural disaster. Several countries around the world have strengthened their defense strategies against this environmental threat with green belts of trees that are resistant to drought and harsh environments. The stakeholders, especially local governments in Iraq, have been following the same approach for years and have developed projects to help eliminate desertification. Habib added, “But these projects, mostly short term, have ended up as a fiasco because of the lack of interest and professional staff.” He also stressed that "corruption, the lack of good planning and funding led to the failure of the sandstorm bumper projects.” Habib's talk about the failure of the projects was reinforced by the failure of the Green Belt Project in 2017 in Wasit province, which planted green areas in mostly sandy regions. However, the project has not been completed due to financial austerity. Drought has drained the Green Belt Project’s trees in Karbala, forcing the local government on Oct. 10 to abandon the project to other parties able to finance it and complete it. Suhaila Abbas Al-Khikani, a member of the Babil Governorate Council and an official of the Agricultural Committee, told Al-Monitor, “The government measures to combat the phenomenon of desertification are not enough, which is increasing the environmental threat of storms.” She added, "The establishment of a green belt has become a necessity that cannot be delayed, because it will be the only source of resistance to desertification coming mostly from the western border.” Khikani continued, "The region of the island across the border between Syria and Saudi Arabia was one of the most fertile areas in the region and had a huge economic return, but today it has become a desert." The government is becoming more serious in its fight against dust storms. On May 21, Prime Minister Haider al-Abadi discussed with Erik Solheim, the executive director of the United Nations Environment Program, the formation of a green belt within a regional program involving a number of countries, including Iraq. The United Nations had in fact launched in 2013 a project to establish a green belt along the land border between Iraq and Kuwait to reduce dust storms, provided that the project was funded through Kuwaiti compensations. The Ministry of Environment announced in 2015 its intention to set up green belts on the Iranian, Kuwaiti and Syrian borders. Over the years, there have been many statements and proposals for projects to reduce dust storms. In 2012, Hassan al-Janabi, an expert on irrigation and the current minister of irrigation, proposed a project to establish a body or ministry for the National Green Belt along with a suitable route from northern to southern Iraq. Modern technology has introduced new treatments for desertification, which the Ministry of Agriculture intends to follow, according to Hamid Nayef, the official spokesman of the Ministry of Agriculture. Nayef told Al-Monitor, "The ministry is cooperating with the International Atomic Energy Agency, as well as other countries. This was strengthened at the conference on combating desertification held in the Chinese capital Beijing on Sept. 12. All those who were interviewed by the ministry believe that the security situation will be an impediment to investment and funding in projects aimed to combat desertification.” Nayef said, "The new modern project is not only combating desertification through planting trees, but also by digging wells with modern technologies.” The creation of green belts throughout the country will not only reduce the quantity and degree of dust storms, but will also alter Iraq's extreme temperature, improve the environmental balance, provide wildlife with new opportunities for living and create thousands of job opportunities for unemployed youth. Read more: http://www.al-monitor.com/pulse/originals/2017/11/dust-storms-environment-iraq-health.html#ixzz4y4pWZFTl
  7. Bitcoin is over $7,300.00 today . at one point it was only 6 cents..
  8. Iranian, Iraqi central banks to form joint committee News ID: 4133274 - Fri 3 November 2017 - 14:43 Economy TEHRAN, Nov. 03 (MNA) – Iranian Industry Minister Shariatmadari, while in Iraq, met and talked with Governor of Central Bank of Iraq, Ali Mohsen Al-Allaq. Iranian Minister of Industries, Mining and Trade Mohammad Shariatmadari, in line with his earlier talks with a number of senior Iraqi officials, attended a meeting with Ali Mohsen Al-Allaq, Governor of Central Bank of Iraq. The session aimed at facilitation of trade transactions between the two countries and agreed that a joint commission be formed between central banks of Iran and Iraq in order to fully implement existing financial agreements. Following this meeting, Mohammad Shariatmadari, assessed the talks with the Iraqi side as positive and reported on the agreement to fully implement existing agreements between the two countries in the field of finance. “The Iraqi side presented good proposals in the framework of international law, and we hope the visit will be a good source for development of relations between the two sides,” he added. Chairman of Central Bank of Iraq also recounted on the meeting stating “given the widespread nature of business relations, we need to continually hold meetings on issues related to bilateral agreements and facilitate business relations between Tehran and Baghdad.” Al-Allaq went on to stress that “within the same framework, we have also held meetings with the Central Bank of Iran, and inked a Memorandum of Understanding (MoU).” “At the meeting with Shariatmadari, it was agreed that the joint committee of central banks of the two countries should be formed as soon as possible,” he concluded. http://en.mehrnews.com/news/129164/Iranian-Iraqi-central-banks-to-form-joint-committee
  9. My wife has had Fibromyalgia for years now. It was weird but one day out of no where she had intense pains. She has had every test known and no doctor could explain. They prescribed pain meds and she walked around like a zombie for what seemed like a long time. Had her try some HIGH CBD marijuana and it actually worked to stop the pain. She weaned off the pain meds completely and just used a vaporizer to use the weed. Pain was manageable for years She researched for a long time and heard about low dose naltrexone LDN. It is intended for auto immune disorders and cancer patients but has many other new found effects. She talked her doctor into letting her try it out and IT WORKED!!!!! Now she is off the weed completely and her pain levels are almost gone completely. May not work for everyone but this drug has given my wife her life back. If you have Fibromyalgia and live in constant pain then you should research this med and see if its for you.
  10. Iraq Takes Saudi’s Spot As #2 Oil Exporter To U.S. By Irina Slav - Oct 27, 2017, 1:00 PM CDT Iraq last month become the second-largest crude oil exporter to the United States, overtaking its southern neighbor, Saudi Arabia, and is on track to repeat this performance this month as well, customs data compiled by Bloomberg and figures from the Energy Information Administration (EIA) suggest. Iraq, Bloomberg’s data showed, shipped 18.8 million barrels to the U.S. in September, while Saudi exports to this destination came in 2.9 million bpd lower. Since the start of October, Saudi oil exports to the U.S. have been 3.2 million barrels below shipments from Iraq. Last week, the EIA said, Iraqi exports came in at 1.072 million barrels per day, versus 569,900 barrels per day from Saudi Arabia. The week before, Iraq exported just 423,000 bpd to the U.S. Saudi Arabia has been the second-largest supplier of crude oil to the United States for more than two decades, with Canada holding the top spot. Now, with the Kingdom cutting more oil production than the OPEC deal calls for, its market share in the U.S. and elsewhere is being lapped up by partners and rivals, including not just Iraq but also Iran and Russia. And it’s not just the US where Saudi Arabia’s presence in the oil market is diminishing. Earlier this week, Chinese customs data revealed that Russia remained the top oil exporter to China, about a year after it dethroned Saudi Arabia from that position. The data showed that in September, imports of Russian crude jumped by 61 percent annually to 6.35 million tons, or 46.55 million barrels. Angola was second, and Saudi Arabia came in third, with exports of 4.28 million tons, or 31.37 million barrels. In August, Saudi Arabia announced it would cap its daily exports to 6.6 million barrels in a bid to accelerate the rebalancing of global inventories and has more or less stuck to this cap since then, ceding market share to other large producers, despite higher client demand as per statements from Saudi officials. By Irina Slav for Oilprice.com More Top Reads From Oilprice.co https://oilprice.com/Latest-Energy-News/World-News/Iraq-Takes-Saudis-Spot-As-2-Oil-Exporter-To-US.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+oilpricecom+(Oil+Price.com+Daily+News+Update)
  11. Why is Baghdad paying salaries of Kurdistan employees? Adnan Abu Zeed October 27, 2017 Amid ongoing disputes between Kurdistan and the Iraqi federal government, Baghdad announced that it is going to bypass the Kurdistan Regional Government and pay their civil servants directly. REUTERS/Azad Lashkari Iraqi Kurdish President Massoud Barzani (R) and Iraqi Prime Minister Haider al-Abadi attend a joint news conference in Erbil, Iraqi Kurdistan, April 6, 2015. BAGHDAD — Iraqi Prime Minister Haider al-Abadi intends to have the federal government adopt a policy of paying civil servants’ salaries in Iraqi Kurdistan without mediation from the Kurdistan Regional Government (KRG). This is considered a substantial improvement in the relationship between the federal government and Kurdish citizens in Iraqi Kurdistan, and the move is expected to strike at the very heart of Kurdistan’s economy and undermine Erbil’s authority, as it cannot refuse such an offer. Baghdad and Erbil have a history of dispute on the topic of staff salaries in Kurdistan, as the two sides differ on the amount of salaries owed. While Baghdad says the budget for Kurdistan employees is 460 billion Iraqi dinars ($392 million), the KRG says it pays 650 billion Iraqi dinars ($554 million) monthly to government employees. According to sources in the KRG, salaries of peshmerga forces, the Kurdish security units (Asayish) and the police cost 400 billion Iraqi dinars ($341 million) each month. Parliament member Jassim Mohammed Jaafer — who is close to Abadi — announced Baghdad’s intention to pay the salaries of Iraqi Kurdistan’s civil servants. He told Al-Monitor, “Prime Minister Abadi is serious about this plan, and he continues to be so even after the Kurdish government decided to freeze the independence referendum results on Oct. 24, 2017 — especially now that Kirkuk’s oil fields are under Baghdad’s authority.” Jaafer revealed that about 10 oil fields in Kurdistan are expected to have their revenues included in the federal budget to complete the plan, which he expects to be ready in the near future because the federal government has decided that “Kurds should not be deprived of their political, financial and administrative entitlements stated under the constitution.” Concerning implementation of the plan, Jaafer said the technical system is ready to distribute salaries through the QiCard system, which is currently used in Iraq. “We are waiting for the Kurdish government to send the database of employees and peshmerga personnel so that the QiCard system can be instructed to integrate databases of the Kurdish employees as well as peshmerga personnel to receive their salaries at any of the company offices inside or outside of Kurdistan,” Jaafer added. QiCard is an electronic payment system through which employees in Iraq get paid through an electronic card following the government’s deposit of their salaries into their respective accounts. Employees can then withdraw their salaries from any of the 200 exchange offices around Iraq. Majda al-Tamimi, a lawmaker and member of parliament’s Finance Committee, explained to Al-Monitor that the plan can now be applied "since oil sources have come under the authority of the federal government. The Oil Marketing Company SOMO controls the production as well as the export, which brings the required financial revenue to the federal government, allowing payment of salaries in Kurdistan from Baghdad without any financial mediation from the [KRG].” Concerning the method of applying the plan announced by Abadi, Tamami said, “The Kurdistan salaries committee, of which I’m a part, will discuss the means to implement the new plan with the Ministry of Finance and will look for ways to overcome any difficulties in cashing salaries in Kurdistan. Moreover, the new plan does not need the parliament’s vote, as the prime minister has agreed to it.” Tamimi seemed confident of success, adding, “I’m sure the federal government seeks to secure salaries of Kurdistan because these employees are Iraqi employees in the end. Moreover, the peshmerga [forces] are a part of the Iraqi security and defense architecture under Article No. 121 of the Iraqi Constitution. Therefore, cashing their salaries from Baghdad is required under the applicable laws.” By the end of 2014, the KRG had entered into an oil agreement with the Iraqi federal government, which stated that Kurdistan’s entitlements should be reimbursed in exchange for delivering 550,000 barrels of Kurdistan's and Kirkuk’s oil to the federal government each day. However, disputes pushed former Prime Minister Nouri al-Maliki to announce on Nov. 17, 2016, that a 17% share of the central government’s budget that was dedicated to Kurdistan would be cut off due to the KRG’s lack of commitment to the oil agreement. The plan of direct payment of salaries to Kurdistan is not a new one, as Abadi proposed the same plan to Iraqi Kurdistan in 2016 in exchange for the delivery of Kurdish oil to Baghdad. KRG authorities refused that offer, which has automatically expired now that the Kirkuk oil fields are under the authority of the federal government. “The salary crisis was one of the aspects of the economic crisis sweeping through Kurdistan before the Iraqi army seized control of the city during the battle of Kirkuk. The obvious truth is that the KRG has failed to secure salaries of employees,” Zana Saied, a member of the Iraqi parliament, told Al-Monitor. The reason is corruption, said Saied, adding, “Exporting about a million barrels each day should have made Kurdistan able to provide salaries and many other financial needs.” Many people consider the federal government to be waging an economic war on Kurdistan. Jassim al-Mossawi, a political analyst and the head of the Arrasid Center for Media, spoke to Al-Monitor about the political influence used to distance Kurdish authorities from administering salaries to employees, which makes Kurdish citizens feel that “Baghdad is their federal capital as it controls the very details of their lives.” It is expected that Kurdish authorities will be compelled to accept the plan given the financial crisis it is going through, according to Mossawi. The rising economic hardships imposed on the region by Baghdad and neighboring countries indicate that the salary issue will be solved soon in the favor of Baghdad's plan. Read more: http://www.al-monitor.com/pulse/originals/2017/10/baghdad-erbil-kurdistan-iraq-salaries.html#ixzz4wkjY3bSy
  12. Kurdistan UN program trains Iraqi IDPs, refugees on family income, economic growth By A.C. Robinson 19 hours ago UNIDO trainers teaching IDPs and refugees in modern farming techniques. Balisan, Kurdistan Region / Photo by author ERBIL, Kurdistan Region – The United Nations Industrial Development Organization (UNIDO) has recently launched a new program in the Kurdistan Region for Internally Displaced Persons (IDPs), refugees and host communities to train them in the agri-business sector to enhance livelihoods and employability opportunities that could contribute to their future economic stability and food security. “The premise is that we need to strengthen the local economy and the local enterprises so that the economy can continue to support the presence of the IDPs and the refugees,” said Peewee Culaton-Viray, Chief Technical Adviser for the Employment and Food Security Project of UNIDO. “Overall, the training programs seek to contribute to the development of the human resource base of the KRG for economic development,” she added. The primary goal of UNIDO is to “strengthen economic resilience of Syrian refugees, Iraqi IDPs, returnees and their host communities and promote inclusive sustainable industrial development” within the Kurdistan Region. UNIDO’s target is to train 520 people in which at least 40 percent are women. Youth with a minimum age of 18 are also encouraged to enroll in all areas of the agri-business training programs. These areas include teaching modern farming techniques in vineyards and orchards for fruits such as figs and pomegranates, household micro enterprises which includes producing fruit leather, pomegranate concentrate, jams and other confectionaries and food processing factories such as tahini factories or confectionary production factories. Training is also provided in IDP and refugee camps. UNIDO, which is funded by the Austrian and Japanese Governments, had trained trainers from the Ministry of Agriculture and Water Resources as well as the Ministry of Trade and Industry of the Kurdistan Regional Government (KRG). The KRG Ministry of Planning is the main coordinating agency in implementation of the programs. The initial training block began on October 8, 2017 and will continue through December 14 with plans to follow through with the training courses up until May 2018. Training takes place at several locations throughout the KRI, mainly in rural communities where employment opportunities are scarce in order to improve family incomes and economic stability within their host communities. UNIDO tries to limit class size to 20 persons per group in order to enhance the effectiveness of training. Study materials and tools are provided, depending on the sector for which the training is provided, as well as transportation to encourage participation. Since the rise of ISIS in 2014 along with military operations to liberate ISIS controlled areas, the UN has registered through January 2017, 3.9 million IDPs as well as over 230,000 Syrian refugees. Of these numbers, the KRI currently hosts 1.5 million IDPs and refugees. Nearly 25 percent of all IDPs and refugees have sought refuge in the Erbil Governorate while another 25 percent live in host communities and camps within the urban areas of Baharka, Khabat, and Shaqlawa while the remaining live in camps or have returned to their homes. Besides providing training to increase employability and economic improvement to IDPs and refugees, UNIDO also stresses the empowerment of women so that they can become self-sufficient and assist in maintaining their households, especially since many woman lost their husbands or family members during the war and are now the sole providers for their children. “They are given an opportunity to learn new concepts and ideas on how they can improve on one if not the major source of their family income,” Culaton-Viray said. “Improvement in production process and productivity can all translate to higher profits - which eventually go back to the welfare of the family.” Cutalon-Viray added that if women are able to improve on their home-based micro businesses, it will contribute to their self-sufficiency and once they return back to their homes, if they do return, they will carry with them the knowledge to continue their livelihood activities for resettlement. UNIDO hopes that its training for the women will “help them become more resilient in facing the day to day adversities of life, help them realize their strengths and values as individuals and encourage the drive in them to pursue their goals." http://www.rudaw.net/english/kurdistan/241020172
  13. Shabs always said that stability was key! Go Shabs!
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