sandyf

The site is very informative. It clearly states that at the moment the cards are only used for salaries, and have been for some time. Also that they are only for use inside Iraq. There is a list of participating agencies and it looks like they are only of any use to government related employees. A point that many seem to overlook is that the Iraqis have to pay 10 thousand dinar for the card, which probably explains why only a relatively small number are in use.

June 28, 2013 The Iraq Stock Exchange Upgrades to NASDAQ OMX's X-Stream Technology NEW YORK and BAGHDAD, Iraq, June 28, 2013 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group (Nasdaq:NDAQ) has entered an agreement with theIraq Stock Exchange (ISX) to upgrade its current trading platform. Under the terms of the agreement, ISX will replace its existing NASDAQ OMX platform (Horizon) with one powered by the renowned X-stream technology. The upgrade is expected to be rolled out by mid-year 2014. http://ir.nasdaqomx.com/releasedetail.cfm?ReleaseID=774435

There is nothing on the UNSC calendar for any Friday in July. The UNAMI report is due on the 11th with briefing and consultation on the 16th. Iraq – UNAMI Resolution 2061(2012) of 25 July 2012 Para.1: decides to extend the mandate of the United Nations Assistance Mission for Iraq (UNAMI) for a period of twelve months. Para.5: expresses its intention to review the mandate of UNAMI in twelve months or sooner, if requested by the Government of Iraq. The UNAMI mandate will expire on 25 July 2013. Para.6: requests the Secretary-General to report to the Council every four months on the progress made towards the fulfilment of all UNAMI’s responsibilities. The report of the Secretary-General is expected to be issued in July 2013

They probably thought they were going to Nelson Mandela's funeral. It was reported that he had died but then retracted.

Goes down every morning and comes back up every evening. Been the same way for years. If the dollar was really that predictable we would not need an RV

Global policy, in the last 12 months they have closed operations in Thailand and Korea. It is a bit of a myth that companies will make huge profits from an RV. The benefits will come from business growth, not overnight.

Looks like they were left out of the loop.

From Recaps. We were initially advised to watch for this release to take place Sunday Night/Monday Morning on FOREX, with a 24-hour delay before the currencies became tradable. Obviously we saw nothing. We expected that the delay might have been pushed to Tuesday in order to comply with normal international banking policies, and in fact were told that might be the case. All of you have heard about the NSA leaker issue in the news, the fact that he fled to China, and that both China and Russia have cooperated in hiding him or preventing the US from finding the young man's whereabouts. Not in our wildest thinking did anyone consider that this event might have a bearing or interfere in any way with the release of these currencies. Turns out that because of the administration's demands on China for the return of this individual, they decided to throw a temper tantrum and provide a short delay in the release process by fussing over the revaluation of the Vietnamese Dong.

Last year, HSBC closed operations in Thailand and Korea.

We are in uncharted territory here and it is not quite so straightforward. To licensed dealers and banks, currency would be 'stock', an asset, and as such cannot change in value because of variation on exchange rate. Assets are valued on a historical cost basis and may be subject to depreciation. In the event of a very large change in the rate it would not be out of the question for dealers to be offered a credit on holdings with the option to repurchase at the new rate before any further sales. In effect they may very well have to stop selling old stock until free to do so. There would be no restriction on selling dinar acquired through exchange at the new rate. Obviously dealers and money changers without audited accounts will not face the same restrictions.

Not according to Frank, I suppose using initials provides an escape route. Frank26 IQD Conference Call Monday, June 24, 2013 • Frank is confident in his opinion that chpt 7 will never be lifted, they will never see the keys to their shackles until they raise the value of their currency; he has been sharing the proof of his opinion for the last 4 years • UN wants Iraq to obey ALL of the mandates • S went to NYC; Frank has always maintained that at the end, S would be back, not visibly in charge, but behind the scenes in charge; we are seeing this • I Teams released 4 people from their security detail, S, Z and 2 others; S and Z are still in NYC, and they will stay there through June 27

Would like to think you are on the right track. If it does come about, I do not think it will be on the 30th but effective midnight on the 30th. There has to be an effective point in time and the start of a new accounting period would be most appropriate.

House opens legislative term to vote on three bills Tuesday, 18 June 2013 House of Representatives voted in its first session of the first legislative term for the fourth legislative year, which was held under the chairmanship of Mr. Osama Najafi, head of the House of Representatives and the presence of 175 deputies on Tuesday 18/6/2013 on three draft laws and ending the first and second readings of four bills. At the beginning of the meeting initiated by any of the above-Hakim called Mr. Najafi, ladies and gentlemen deputies to cooperate for the completion of pending laws in commissions through understanding, cooperation and put the supreme interest of the country for legislation important laws, stressing the importance of investing political understandings to serve the Iraqi people. The Council voted on the draft law on ratification of the Convention on training Iraqi security forces between the Government of the Republic of Iraq and NATO and the report of the Commission on Security and Defense due to the desire of the Government of the Republic of Iraq and NATO in developing the capabilities of the Iraqi security forces, including helping to build and rehabilitate professionally effective and durable. The Council voted on a draft law of the First Amendment to the order of CPA No. (87) for the year 2004 submitted by the committees of legal, economics, investment, services and reconstruction in order to accelerate the pace of implementation of strategic projects, which decided to refer to contractors or companies to implement them and not to delay direct in this implementation in the case of an objection until the decision of the Administrative Court and acquisition have become final and which did not specify the duration of time for the purpose of canceling the Administrative Court competent affairs complaints and disputes resulting from the granting of public contracts by the Corporation under the CPA Order now defunct No. 87 for the year 2004 and restore competence to the ordinary courts. The Presidency postponed vote on the bill Training Center monetary and banking and financial report of the Commission while approaching the government to find out the reasons for request replies law. And completed the Council vote on the draft law of the Fifth Amendment to the law of the State Council No. (65) for the year 1979 and the report of the Legal Committee because of what is being handled by the State Council of the important duties in the preparation and drafting of bills and account adviser to the state in the construction of opinion and consultation of legal and to increase the duties of the increasing number of legislations The inquiry and clarification before it and to increase the number of advisers and assistants and advisers development of the courts to eliminate administrative and staff spend in some areas to facilitate the process of litigation and the protection of citizens of arbitrariness Aalsultat administrative and protect the rights of the state and maintenance of breach of duties functional staff. And decided the Presidency postpone the vote on the draft law on the sale and lease of state funds and submitted by the committees of financial, legal and endowments, economy and investment in order to provide an opportunity for the committees of Awqaf and finance to reach a formula agreement graduated money Endowments from the funds of the other country. On the other hand Council ended the first reading of the draft law on ratification of the agreement between the Government of the Republic of Iraq and the Government of the State of Kuwait on the organization of maritime navigation in the Khawr Abd Allah and submitted by the Committees on Foreign Relations and the legal order to regulate navigation in the Khawr Abd Allah through the formation of a joint committee to activate and implement the provisions of This agreement and the development of joint plans for marine safety in the Khawr Abd Allah and other navigational and environmental issues for the purpose of strengthening bilateral relations between the two countries, and respect the right of traffic navigational headquarters in international charters and conventions. Decided to turn the Presidency of the Council of Representatives, hosting and Minister of Foreign Affairs and the Minister of Transport at the Council meeting on Thursday to clarify the Convention on maritime and related activities and the relationship agreements with Kuwait to enable the Council to make the right decision on the agreements. The Board completed the second reading of the draft law on ratification of an agreement to create a joint committee for cooperation between the Government of the Republic of Iraq and the Government of the State of Kuwait and submitted by the Committees on Foreign Relations and the economy, investment, health, environment, culture and information. In interventions, ladies and gentlemen of Representatives MP Hanan al confirmed the importance of dismantling the files with Kuwait as the interest of Iraq out of Chapter VII. And Acharalnaúb Haider Mulla to the presence keen to re-organize the relationship with Kuwait and to avoid the negative phase of the past through a joint diplomatic effort, pointing to the existence of arbitrariness in compensation. The MP noted the high Nassif to the existence of a clear violation of the constitution concerning the conduct agreements or memorandums of understanding with Kuwait because of the passage to the Council of Ministers or the House of Representatives. As MP Hameed Buffy has called for the strengthening of relations with Kuwait in various fields, including the parliamentary relations and solve all the problems. For its part, drew the names of MP Moussawi said the agreement do not include any diminution of Iraqi sovereignty or any benefit at the expense of the country, calling for strengthening relations with the Gulf countries on the basis of bilateral or trilateral. And MP Walid al-Hilli support of the Convention for the development of fruitful cooperation between Iraq and Kuwait to the magnitude of the positive effects of future cover on the bad effects of the former regime's aggression against Kuwait. And completed the second reading of the draft law on first amendment to the law of service and military retirement (3) for the year 2010 and the report of the security and defense committees, legal and financial. In interventions, ladies and gentlemen of Representatives MP Mohammad Iqbal to address the issue of integration of militias into the security services and extend the work of those who have been reintegrated for five more years. For his part, MP Bahaa al-Araji, the importance of bonus has been integrated into the security forces for their efforts to fight the dictatorship. The MP called Najiba Najib to the inclusion of peshmerga forces of the law and give them rights to fit with their sacrifices. Net MP Hussein urged to address the issue of the deceased who have been integrated into the security services. For his part, praised the MP Mustafa nice to the importance of the inclusion of the officers working in the military before 2003. The MP pointed Abdul Rahman Alloizi to the Iraqi constitution rejects discrimination which imposes equality former army officers by giving them indemnity, similar to their counterparts in the current army. The prosecutor recommended Aziz Okkaily the need to care including Ringer regime what they have suffered in the past and Makedmoh of sacrifices for Iraq. In its response to the interventions Committee confirmed that pensions for officers in the Iraqi army will be equal to the current officers of the former army pointing to add five years to come from the service in order to redress the slide that Garat regime and address the imbalance refer seniors to retire. The Council also ended the second reading of the draft law on First Amendment of the political prisoners Corporation Law No. (4) for the year 2006 and submitted by the committees of the martyrs and victims of political prisoners and legal. In the interventions on the law MP Mohammad commendable, the importance of being a law contributes fairly the people of Rafha camp who have been subjected to great suffering to confront the former regime. MP Sabah al-Saadi issue the Rafha of takers issues imposed by giving them equal rights of political prisoners from various parties. As MP Khaled Huani has pointed to Kurds exposure to various types of detention and persecution in the sixties and nineties of the last century, which calls for inclusion of the law. The MP said the Sudanese Nada that a lot of rights and privileges stipulated by the previous law did not give them to the beneficiaries only a small part of them, noting that the political prisoner is still suffering so much because of its difficult situation. MP Hassan Abdul Nabi fairly political prisoners by giving them moral compensation and their full rights. In while Rh MP called g-Mahdi to reconsider the time period specified for the inclusion of political prisoners. For its part, suggested Rep. hope Attia form a committee to reconsider the demands of the prisoners and prisoners who refused requests considered political prisoners. MP Abdul Khader Tahir need to adopt to justice are not taken to create a certain class in society in addition to the importance of the inclusion of patriots who have been imprisoned in the prison "Salman click". In response to the interventions confirmed the Committee taking into consideration the observations and proposals ladies and gentlemen of Representatives, pointing out that the inclusion of takers Rafha was based on the proposal of the Commission noting that the Constitution Select political prisoners in the Hakpti Baath regime only confirming the existence of a parliamentary committee working on legislation law to compensate victims of genocide collective in different regions. Then decided to adjourn the meeting to Thursday, 20/06/2013. The information department Iraqi Council of Representatives 18/6/2013

Redenominations are in the public domain, not a secret. The ISO code for Zambia came out on 31st Aug, 4 months before the effective date. The Technical Guidelines were published in Sept., 3 months before the effective date All the accounting software companies had to amend the software and have it tested by the end of Nov., one month before the effective date. One thing you can bank on, there will not be a redenomination in Iraq anytime soon, AMN,ASN or any other imminent terminology.

Basic example An investor: Mr. A had 100 shares of company X at a total investment of $40,000, assuming that he purchased the shares at $400 per share and that the stock price did not change between the purchase date and the date at which the rights were issued.Assuming a 1:1 subscription rights issue at an offer price of $200, Mr. A will be notified by a broker dealer that he has the option to subscribe for an additional 100 shares of common stock of the company at the offer price. Now, if he exercises his option, he would have to pay an additional $20,000 in order to acquire the shares, thus effectively bringing his average cost of acquisition for the 200 shares to $300 per share ((40,000+20,000)/200=300). Although the price on the stock markets should reflect a new price of $300 (see below), the investor is actually not making any profit nor any loss. In many cases, the stock purchase right (which acts as an option) can be traded at an exchange. In this example, the price of the right would adjust itself to $100 (ideally). The company: Company X has 100 million outstanding shares. The share price currently quoted on the stock exchanges is $400 thus the market capitalization of the stock would be $40 billion (outstanding shares times share price). If all the shareholders of the company choose to exercise their stock option, the company's outstanding shares would increase by 100 million. The market capitalization of the stock would increase to $60 billion (previous market capitalization + cash received from owners of rights converting their rights to shares), implying a share price of $300 ($60 billion / 200 million shares). If the company were to do nothing with the raised money, its Earnings per share (EPS) would be reduced by half. However, if the equity raised by the company is reinvested (e.g. to acquire another company), the EPS may be impacted depending upon the outcome of the reinvestment. http://en.wikipedia.org/wiki/Rights_issue

A rights issue is normally an offer to existing shareholders, giving them the right to buy more shares quite often at a discounted price. For example they may be allowed to buy one share for every 5 that they already hold. At 100% it looks like they intend to offer as many shares as already exist which would indicate a one for one ratio. The price will probably be below the current market price.

Opened as normal. Index opened at 126.17 in line with the graph for yesterday. ISX website still showing 122.8.

Certainly a bit unusual. You are obviously referring to the ISX website. On Mubasher the closing prices are still displayed but what is strange there is that on the list of traded stocks for yesterday the 'last trade' column has been set to zero. It wasn't like that mid session yesterday. The other strange thing is both ISX and Mubasher show the index close at 122.8. The graph on Mubasher shows the close at 126.6. When I looked yesterday about mid session the index was about 125 point something, consistant with the graph. Wonder if they will open today, and if so , what will we see.

No, and there is nothing wrong with the calculator. If you go to the exchange rates on the website you will see that VND, along with IDR and LAK, are quoted per thousand. Bangkok Bank has always been this way but people jump to conclusions. http://www.bangkokbank.com/BangkokBank/WebServices/Rates/Pages/FX_Rates.aspx

Many more than you think, one of the shareholders in the company my wife works for owns a hotel and maritime company in Vietnam. Before we were married my wife used to work in Vietnam and when I went to visit, her boss at the time offered the use of her Rolls for the day, but she turned it down. There are very few vehicles on the roads in Vietnam, it is like a river of motorcycles. Had I been there on my own, I would haven never crossed the road. You just walk out in front and the wave opens up to let you through.

Improvements in the state banks does not mean a currency reform, but it certainly helps.

NEWS: CHINA SETS YUAN CENTRAL PARITY AT 6.1737 THURS VS 6.1757 Source: Market News International (MNI) – A Deutsche Börse company 6. June 2013 08:16:21 CHINA PRESS: Fast yuan appreciation since the beginning of this year may have... CHINA PRESS: Fast yuan appreciation since the beginning of this year may havecome to an end as capital inflows slow, the official China Securities Journalsaid in a front page editorial. The newspaper said capital inflows are expectedto slowdown as the China and U.S. interest rate spread is seen narrowing whileChina's economic recovery is not as strong as expected. But the newspaper saidthe monetary authority is unlikely to allow yuan deprecation either as it needsto prevent intensive capital outflows. It said this is the reason why the PBOChas maintained a strong yuan central parity recently. (China Securities Journal) Source: Market News International (MNI) – A Deutsche Börse company 6. June 2013 06:24:39

Nothing really, it is the way they write the articles. The 6.17 is referring to the parity rate that they fix every day and is the highest it has been since the reforms. The market rate has been hovering around 6.13 for about 10 days and touched 6.12 one day last week.