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SocalDinar

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SocalDinar last won the day on September 23 2015

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About SocalDinar

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  1. SHARE World Bank body to hear Agility's dispute with Iraq government Logistics and warehousing company is seeking to settle by arbitration a $380m dispute An Agility facility in Kuwait City. A World Bank body has ruled it has jurisdiction to hear Agility's dispute with the Iraqi government over the company's investments in the country's telecoms industry. Yasser Al Zayyat / AFP Kuwait logistics firm Agility said a World Bank body that arbitrates between foreign investors and states will hear its dispute with Iraq’s government over the company’s investment in the Iraqi telecom industry. The International Centre for Settlement of Investment Disputes (Icsid) ruled it has jurisdiction to hear some of the claims filed by Agility against Iraq and will consider some of Agility’s claims on the merits, the company said on Sunday. "We are pleased with the Icsid tribunal’s decision,” said Tarek Sultan, vice chairman and chief executive of Agility. “The ruling upholds the protections to which Agility is entitled and acknowledges that the Republic of Iraq cannot evade its treaty obligations and scrutiny for its violations of international law.” The logistics and warehousing company is seeking to settle by arbitration a $380 million (Dh1.4 billion) dispute with Iraq’s government after it invested in the country's telecom sector. Agility and its partner, France's Orange, are seeking compensation for the loss of their holding in wireless operator Korek Telecom after the telecoms regulator handed their stake to local investors. Agility claims that the government denied it the ability to challenge the decision by Iraq's telecom regulator, the Communications & Media Commission, to annul its investment in Korek. Agility also alleges the government had moved ahead on the regulator's decision by ordering the transfer of shares acquired by Agility and its co-investors back to the original Iraqi shareholders in March 2019 without returning Agility’s original investment. In March 2011, Agility and Orange said they would acquire a 44 per cent stake in the Iraqi mobile telecoms operator Korek Telecom. The regulator transferred the mobile unit stake jointly owned by Orange and Agility to three local investors including Korek's managing director Sirwan Barzani, Bloomberg reported in May citing documents it had seen. The Washington-based Icsid, part of the World Bank group, handles international investment dispute settlements. Agility, one of the biggest logistics companies in the Arabian Gulf, posted a 7.3 per cent year-on-year rise in net profit for the first three months of 2019 as its core logistics business grew. Net income for the quarter stood at 20.3m Kuwaiti dinars (Dh244.5m) and operating income was 378.8m dinars, up 1.8 per cent from the year-earlier period. https://www.thenational.ae/business/technology/world-bank-body-to-hear-agility-s-dispute-with-iraq-government-1.885991
  2. HARHARIRI RECEIVES ALLAWI AND CHAIRS A MEETING ON THE 2019 BUDGETRI RECEIVES ALLAWI AND CHAIRS A MEETING ON THE 2019 BUDGET http://nna-leb.gov.lb/en/show-news/105477/Hariri-receives-Allawi-and-chairs-meeting-on-the-2019-budgetThu 11 Jul 2019 at 23:24Politics NNA - The President of the Council of Ministers Saad Hariri received this afternoon at the Grand Serail the Iraqi Vice President Iyad Allawi and the accompanying delegation, in the presence of former Minister Ghattas Khoury. Discussions focused on developments in Lebanon and the region, the situation in Iraq and bilateral relations. Hariri previously chaired a financial meeting, in the presence of Deputy Prime Minister Ghassan Hasbani, Ministers Ali Hassan Khalil, Gebran Bassil, Mohammad Fneich, Youssef Fenianos and Wael Abu Faour and the Chairman of the Parliamentary Finance Committee, MP Ibrahim Kanaan . The meeting focused on the 2019 draft budget in light of the amendments introduced by the parliamentary finance committee, in anticipation of the debate in parliament next week. Hariri also chaired the meeting of the ministerial committee for the quarries, in the presence of Hasbani, ministers Ali Hassan Khalil, Youssef Fenianos and Fadi Jraissati. At the end of the meeting, Jraissati said that they exchanged ideas related to the quarries master plan, and hoped that the final strategy of this file will be ready next week. Hariri previously chaired the meeting of the ministerial committee on the electricity plan, in the presence of Hasbani, ministers Khalil, Fenianos, Mohammad Fneich, Camille Abu Sleiman and Nada Boustani. It continued the discussion on the amendment to the Electricity Law No. 462 adopted in 2002. The members of the committee made their observations. They will continue their discussions in a coming meeting.
  3. Hello Rock The link is at the top of my first post https://tradingeconomics.com/iraq/gold-reserves scroll down and then you can see another column of additional links. I believe the M-2 shown is March 2019
  4. https://tradingeconomics.com/iraq/gold-reserves Here is some current data.... Swing away!! . Gold Reserves in Iraq remained unchanged at 96.30 Tonnes in the second quarter of 2019 from 96.30 Tonnes in the first quarter of 2019. Gold Reserves in Iraq averaged 30.17 Tonnes from 2000 until 2019, reaching an all time high of 96.30 Tonnes in the fourth quarter of 2018 and a record low of 0 Tonnes in the second quarter of 2000. 1Y5Y10YMAX Compare Embed Iraq Trade Last Previous Highest Lowest Unit Balance of Trade 18793.00 7090.00 47550.00 -3492.00 USD Million [+] Current Account 13954.50 2157.80 32344.00 -15410.00 USD Million [+] Current Account to GDP 4.90 2.10 12.70 -24.00 percent [+] Exports 57559.00 41298.00 94209.00 1720.40 USD Million [+] Imports 38766.00 34208.00 59349.00 2681.90 USD Million [+] Gold Reserves 96.30 96.30 96.30 0.00 Tonnes [+] Crude Oil Production 4595.00 4500.00 4830.00 0.00 BBL/D/1K [+] Terrorism Index 9.75 10.00 10.00 4.09 [+] https://tradingeconomics.com/iraq/gold-reserves Iraq Gold Reserves Gold Reserves are country’s gold assets held or controlled by the central bank. This page provides - Iraq Gold Reserves - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iraq Gold Reserves - actual data, historical chart and calendar of releases - was last updated on July of 2019. Actual Previous Highest Lowest Dates Unit Frequency 96.30 96.30 96.30 0.00 2000 - 2019 Tonnes Quarterly Iraq GDP per capita at 5510.80 USD Iraq GDP at 225.91 USD Billion Iraq - Credit Rating at 25.00 Iraq Money Supply M1 at 77006.00 IQD Billion Iraq Money Supply M0 at 71412.00 IQD Billion Iraq Money Supply M2 at 94851.00 IQD Billion Iraq Social Security Rate at 17.00 percent Iraq Social Security Rate For Companies at 12.00 percent Iraq Social Security Rate For Employees at 5.00 percent Iraq CPI Housing & Utilities at 112.80 Index Points Iraq CPI Transportation at 98.20 Index Points Iraq Consumer Price Index (CPI) at 104.40 Index Points Iraq Core Inflation Rate at 0.40 percent Iraq Core Consumer Prices at 104.70 Index Points Iraq Crude Oil Production at 4595.00 BBL/D/1K Iraq GDP Annual Growth Rate at -1.00 percent Iraq Interest Rate at 4.00 percent Iraq Gold Reserves at 96.30 Tonnes Deposit Interest Rate in Iraq at 4.78 percent Iraq Employment Rate at 28.20 percent
  5. Iraq setting up own SPV to pay off Iran debt: Report Tue Jul 2, 2019 10:02AM [Updated: Tue Jul 2, 2019 10:31AM ] Home Iran Economy The mechanism will be used to pay for imported Iranian energy in Iraqi dinars. Iraq is lining up a special purpose vehicle (SPV) of its own, mirroring a European trade mechanism, to continue vital gas and electricity imports from Iran, senior Iraqi officials have said. The Arab country has long been in a war of sorts with the US which wants the imports be halted in line with Washington’s policy of “maximum pressure” on the Islamic Republic. But Iraqi officials have reportedly talked American authorities out of their recalcitrance, citing their sheer reliance on Iranian gas and electricity to avoid a repeat of violent protests over power shortages which hit Basra and other cities last year. PressTV-Iraq, US clash over Iran energy imports: Paper Iraq has clashed with the US over the demand that Baghdad stop buying energy from Iran, the New York Times reports. Iran accounts for about a third of Iraq’s power supply, including 1,400 megawatts in direct exports and 28 million cubic meters of gas which fuels power stations near Baghdad and other main cities. For their run-of-the-mill sustenance, Iraqis also depend on Iran for many things from food to machinery, fruits and vegetables. The US is furious with this level of interdependence, seeing it as a key hurdle to its policy of keeping Iran into a chokehold over Tehran’s refusal to submit to Washington’s demands. However, Iraq has received one waiver after another since US sanctions on Iran went into effect in November. The last waiver came last month when Iraqi officials said the United States had given their country a new 90-day extension to import electricity and natural gas from Iran. The countries are now working out a financial “loophole” similar to the European Instex to pay for imported Iranian energy in Iraqi dinars, AFP quoted three senior Iraqi officials as saying. Months of talks The news agency cited what it called a senior government official as saying that the mechanism was the product of months of talks between Iraqi, Iranian and US officials. Iraq currently has an outstanding debt of around $2 billion for previous gas and electricity purchases from Iran. "How else is Iraq supposed to pay what it owes Iran? We have no other choice," AFP quoted one unnamed Iraqi official as saying. According to Iraqi officials, Iran cut electricity supplies to Iraq due to unpaid bills last July, which affected Dhi Qar, Maysan and Basra provinces, sparking violent protests. On Sunday, Iraqi demonstrators set fire to the municipal administration building in Dhi Qar in protest against the lack of public services, including electricity. Cuts in electricity supplies have come at a time when the temperatures are close to 50 degrees Celsius. PressTV-Iran to raise gas exports to Iraq despite US opposition Iran is about to raise gas exports to neighboring Iraq to 35 million cubic meters a day this year, the head of the National Iranian Gas Company (NIGC) says. So far, there have been no cuts to Iran’s electricity supplies, despite reports of an unprecedented surge in electricity use which the local media has blamed on growing cryptocurrency mining. Last week, Iran Grid Management Company (IGMC) reported the country’s power exchanges with neighboring countries at 1,501 MW, which included 1,304 MW in Iranian exports. Officials said Iran will add 1,300 megawatts of new power capacity to its national grid this week. In February, Iran and Iraq signed an agreement on a payment mechanism which is to facilitate the settlement of Baghdad’s debts to Tehran. Under the new mechanism, "the Iraqi government will continue to pay Iran for gas by depositing money into a special bank account inside Iraq, in Iraqi dinars," the unnamed official told AFP. "Iran will not be able to withdraw the money, but will be able to use it to purchase goods from outside Iraq." Other Iraqi officials said Baghdad's SPV would likely be set up at the Trade Bank of Iraq. AFP quoted a TBI source as saying that the bank had been involved in the negotiations but the account had not yet been created. "We are in discussions to reach an agreement, which would be fully within US exemptions." One official said Iraq would be like “Iran's ATM” under the new mechanism, through which Tehran would probably import goods from outside the Arab country. https://www.presstv.com/Detail/2019/07/02/599961/Iraq-Iran-trade-debt-US-sanctions-gas-import
  6. Baghdad: Demonstrators Raid Bahraini Embassy over Middle East Conference BasNews 27/06/2019 - 23:45 Published in Iraq http://www.basnews.com/index.php/en/news/iraq/530079 ERBIL - Protesters on Thursday evening raided the Bahraini Embassy in Baghdad to protest a US-led peace conference aimed to secure the Israeli-Palestinian conflict which was hosted by Bahrain. The demonstrators were carrying the Palestinian flags, while burning the US and Israeli flags, Sputnik cited local sources in Iraq, adding that the protesters were particularly angry at the Bahraini FM for his statement during an interview with an Israeli TV channel regarding the conference. The attack came while a three-day conference dubbed "Peace to Prosperity" has been ongoing in Bahrain with the presence of US President Donald Trump's son-in-law and adviser, Jared Kushner, to secure a deal said to be the "Deal of the Century." No further details are currently available on the demonstrations.
  7. Bahrain recalls ambassador to Iraq over embassy attack: statement RIYADH (Reuters) - Bahrain recalled its ambassador to Iraq for consultations on Thursday after demonstrators broke into the courtyard of the kingdom’s embassy in Baghdad and took down the flag to protest a U.S.-led meeting in Bahrain on Israeli-Palestinian peace. “The Ministry of Foreign Affairs of the Kingdom of Bahrain condemns the attack on the Embassy of the Kingdom of Bahrain to the Republic of Iraq by the demonstrators (which) led to sabotage in the embassy building,” said a statement on the ministry’s website. https://www.reuters.com/article/us-israel-palestinians-plan-bahrain/bahrain-recalls-ambassador-to-iraq-over-embassy-attack-statement-idUSKCN1TS36F?feedType=RSS&feedName=worldNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Reuters%2FworldNews+(Reuters+World+News)&&rpc=401
  8. Iraqi protesters storm Bahrain embassy over Manama confab for deal of century Thu Jun 27, 2019 11:04PM [Updated: Thu Jun 27, 2019 11:11PM ] Iraqi protesters are seen in this video grab waving Palestinian flags over the walls of the Bahrain embassy in Baghdad on June 27, 2019. Embed Download Scores of Iraqi people have stormed the Bahrain embassy in the capital city of Baghdad to protest Manama's decision to host a key summit where the US showcased its so-called deal of century to end Palestinian-Israeli conflict. Videos posted on social media on Thursday showed dozens of people with Palestinian flags marching outside the Bahraini diplomatic mission while some of them tried to climbing to the roof of an outbuilding. Some reports also stated that the protesters had pulled down Bahrain's flag at the embassy. An Iraqi official speaking condition of anonymity told the media that the protesters stayed in the garden of the embassy complex and did not enter the offices inside the compound. Iraqi protesters set on fire an American flag outside the Bahrain embassy in Baghdad on June 27, 2019. (Twitter photo) According to the official, Iraqi security forces tried to disperse the protest by opened fire in the air until reinforcements arrived to secure the Bahrain embassy, which is located in Baghdad’s western neighborhood of Mansour. Bahrain recalls ambassador from Iraq Following the protests, Bahrain recalled its ambassador to Iraq for consultations. "The Ministry of Foreign Affairs of the Kingdom of Bahrain condemns the attack on the Embassy of the Kingdom of Bahrain to the Republic of Iraq by the demonstrators (which) led to sabotage in the embassy building," the Bahraini foreign ministry said in a statement on its website. The protest indicate the growing outrage in the Muslim world against Bahrain's decision to host the Manama Workshop, an event that seeks to bring "peace" back to Palestine and Israeli-occupied territories through a deal masterminded by the Trump administration, in particular Jared Kushner, the US President's son-in-law. The so-called "Peace to Prosperity" workshop opened in the Bahraini capital Manama on June 25 and ran through June 26. PressTV-Hamas: US summit in Bahrain 'abortive', 'miserable gathering' A senior Hamas official says the US “deal of the century” conference in Bahrain was doomed to failure from the very beginning. The Palestinian leadership boycotted the meeting, leading critics to question the credibility of the event. Earlier on Thursday, Bahrain had called for “peace” and “better” relations with Israel. Bahraini Foreign Minister Khalid bin Ahmed Al Khalifah said while his country -- alongside Egypt -- were the only two Arab countries to officially recognize Israel, “we know our brothers in the region do believe in it” as well. Besides Bahrain and Egypt, Israel is believed to have secretly developed close ties with Saudi Arabia and the United Arab Emirates. https://www.presstv.com/Detail/2019/06/27/599604/Iraq-Bahrain-embassy-protest-ambassador-Israel-Palestine-deal-of-century
  9. Thanks for the update. Anyone know how many banks are buying these days at the auctions
  10. If you factor in the gas and supplies it takes me to get to the claim I may break even LOL. But its like a piggy bank. The gold i collect goes into jars and just sits there. I have not sold any of the gold i mine. I work to hard for it LOL. My wife does have a few pieces of jewelry we have made from the larger nuggets. Like you said its a hobby and mostly for the fun of it. If you are ever in SoCal you can tag along.... Most people I invite come and dig once..... HAHA Its hard work. The caliche is like digging into concrete sometimes.
  11. Yep Our electorate is insane. And the sad part is that it will hurt the poor the most.
  12. SocalDinar

    Go Iraq

    Anyone know how an RV will effect the price of Gold? It's up almost 10% in less than 5 days. Silver is rising at a slower ratio so its still a pretty good buy. Gotta love the way precious metals feel in your hand.
  13. Yes they are forcing people to put solar on all new construction homes. But no guarantee they will buy back the power you generate. If it's profitable they will. But only at the cheapest rates like 3 cents a KWH ( nighttime and baseline rates. ) It does make the home sell faster as all the loons here want to feel good about themselves ( not the environment. ). I do work for a company that makes specialized PV panels. They consume a HUGE amount of electricity growing the crystals. They said it takes 3-4 years of the panels producing energy to break even for the amount of energy consumed manufacturing them. And most are made in China which use coal burning generation facilities. So yes over time they may save you money and yes over time they may reduce carbon emissions.... But its not the sunshine and roses they advertise. They will last approx 20 to 25 years and must be cleaned regularly to achieve peak performance.. The system i was going to install was going to cost upwards of $25,000. So the payback was approx 7-10 years. As far as commercial building go they have negotiated rates with power companies. Their investment is guaranteed on paper. Another thing to note is that if your structure catches fire the fire dept will not go on the roof. They will dump water on it from the ground only. Pacific gas and electric requires you carry a 1 million dollar commercial liability policy for them to buy back your power. Makes sense. If your inverter fails who pays for the damages.. Also note that if you do not have a battery system installed when the Utility companies power goes out so does your power. The price for my system did not include batteries which would have added another $10,000. I do use a few panels to run my Koi pond . No inverters I just use 12V pumps. Long term it might make you money. But is it a sound investment? Sure but dont plan on seeing any money on it for a while.. OH and by the way that plant ( The lane mountain Milk Vetch ) is no longer on my property or on my gold claims. Poor plant just did not make it. LOL
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