SocalDinar

.. French oil giant Total is in talks to tap opportunities to invest in autonomous Iraqi Kurdistan, its chief said Tuesday as Baghdad insists contracts should go through the central government. "Kurdistan is part of Iraq. A lot of companies are investing in Kurdistan-Iraq and we don't see why Total couldn't do it," Total chief executive officer Christophe de Margerie told reporters in Kuwait. "We are looking at opportunities. We are discussing, but there is nothing done yet," he said on the sidelines of the International Energy Forum. He said Total was seeking entry into the sector through companies that already have permits to explore in the oil-rich region. "Definitely we will go through discussions with owners of existing blocks," but "in any case you need the approval of the Kurdish government," he said. Baghdad regards any contracts not signed with the central government as invalid. On October 18, Kurdistan signed a deal with US giant ExxonMobil for it to explore six areas, a deal Baghdad strongly opposed. In December, Prime Minister Nuri al-Maliki said ExxonMobile has promised to reconsider the deal. De Margerie also said that his company has replaced "all" its imports of oil from Iran with supplies from other countries, in line with sanctions imposed on Tehran over its nuclear programme. "I cannot tell you by whom," he told reporters, declining to name oil producers that covered the gap, which he put at "a little bit more than 200,000 barrels per day." Oil giants operating in Iran, including the Anglo-Dutch Royal Shell, Norway's Statoil, Italy's ENI, have gradually withdrawn from the country, abiding by sanctions. http://au.finance.yahoo.com/news/french-total-seeks-business-iraqi-073618529.html ..

BAGHDAD, March 13 (KUNA) -- The Iraqi government announced on Tuesday a decision entitling Kuwaitis owning real property in Iraq to have access to their land. The decision is conditional on an equal treatment for Iraqi owners of property in Kuwait, Spokesman of the Iraqi Government Ali Al-Dabbagh said here in a press release, of which KUNA received a copy. A Kuwaiti committee set up by the Amir Decree No. 26 for 2011, decided that the Kuwaiti landowners in Iraq have the right to transact in their property provided that there is no legal ban. The committee recognized, in the minutes of its meeting on March 6, 2012, the principle of equal treatment, the statement noted. Today's decision allows exchanging documents of individuals through the diplomatic channels and endorsing them by the concerned departments of the two countries, it added. (end) mhg.gb KUNA 132130 Mar 12NNNN http://www.kuna.net.kw/ArticleDetails.aspx?id=2226998&Language=en

OAO Lukoil (LKOH), Russia’s biggest non- state company by market value, plans to boost investments in the West Qurna-2 oil field in Iraq to about $2 billion this year. Lukoil plans to carry out drilling and begin construction of a pipeline as it prepares the field for the start of production, the Moscow-based crude producer said in a corporate newsletter published on the website today. The company invested more than $200 million in the project last year, Grigory Volchek, a Moscow-based spokesman for the company’s overseas unit, said by phone today. Iraq approved the sale of Statoil ASA (STL)’s 18.75 percent in the field to Lukoil, Oil Minister Abdul Kareem al-Luaibi said March 7. Lukoil and Norway’s state-controlled Statoil won the rights to develop the second phase of the West Qurna field in December 2009, agreeing to produce 1.8 million barrels a day from the field in southern Iraq about 40 miles (65 kilometers) northwest of Basra, for a fee of $1.15 a barrel. Volchek declined to comment on any agreement with Statoil. http://www.bloomberg.com/news/2012-03-11/lukoil-to-boost-spending-at-iraq-oil-field-to-2-billion-in-2012.html

Not gonna happen Go SHABS

I bank At three large banks None will buy dinar. Yet!!! World trade center downtown LA will buy back anytime

Banks will not change normal operations Just like the people selling dinars make their money with a high spread Go SHABS

thanks Tim We hope it's true Go SHABS !

Being a Health official is not good for your health

5.7 % is low IMO Probably closer to 7% IMO GO SHABS!

Rate has updated, but yesterday's auction Still showing. Makes you wonder if SHABS is just playing with our minds

Exxon Reaches Deal on West Qurna Payments Posted on 12 March 2012. Tags: Exxon, Exxon Mobil, ExxonMobil, oil contracts, West Qurna ExxonMobil has reportedly reached an agreement with Baghdad to be paid in oil for work on the huge West Qurna-1 oilfield. According to the report from Reuters, foreign oil companies involved in Iraq’s oil expansion generally prefer to be compensated for capital expenditure and service fees in oil, because cash payments are more complicated to arrange. BP, which leads the Rumaila project, and Italy’s Eni, leader of the Zubair project, had signed up to Iraq’s oil sales agreement from the outset, the first step towards being paid in crude. Exxon and minority partner Shell held out as they sought to tighten up some contractual loose ends, said an industry source. Exxon and Shell spent $910 million on West Qurna-1 last year and were repaid $470 million in cash. An Iraqi official told Reuters: “In principle there is agreement, although there is nothing in writing yet … Exxon asked us to rephrase some of the wording, which in general will not affect the provisions of (State Oil Marketing Organization) SOMO’s oil export agreement.“ Exxon Chief Executive Rex Tillerson said last week the company was committed to working in both southern Iraq and Kurdistan. (Source: Reuters) http://www.iraq-businessnews.com/2012/03/12/exxon-reaches-deal-on-west-qurna-payments/

......White House eyes former NSC official Brett McGurk for Iraq envoy . .By Laura Rozen Senior Foreign Affairs Reporter .PostsEmailRSS .By Laura Rozen | The Envoy – 7 hrs ago....EmailNew: Now the email button gives you a quick and easy way to start a conversation. Share0Print..... Former NSC Iraq official Brett McGurk (C-Span)The White House is expected to nominate Brett McGurk to be the next U.S. ambassador to Iraq, an Iraqi diplomat and a former U.S. official who worked on Iraq told Yahoo News Monday. Both requested to speak anonymously since the post has not yet been announced. McGurk previously worked for the National Security Council under both the George W. Bush and Barack Obama administrations. An early proponent of the "surge" of U.S. forces to Iraq, McGurk helped lead negotiations for the 2008 security agreement between Iraq and the United States, which called for the phased withdrawal of U.S. forces from the country by the end of last year. A fellow at the Council on Foreign Relations in 2010, McGurk was enlisted this past summer by the Obama administration to assist in negotiations on a possible U.S. follow-up force in Iraq—where the U.S. would keep a number of troops in the country after 2011—but an agreement could not be reached. Current U.S. Ambassador to Iraq Jim Jeffrey reportedly informed the State Department earlier this year of his desire to hand over the post overseeing the largest U.S. embassy in the world. He is among the U.S. ambassadors in town for the annual State Department chiefs of mission conference taking place in Washington this week. http://news.yahoo.com/blogs/envoy/white-house-eyes-former-nsc-official-brett-mcgurk-180619430.html

Gold heist, attacks claim 14 Iraqis March 13, 2012 Print Send to Friend BAGHDAD: Gunmen killed eight people in an attack on a jewellery shop on Monday, one of several attacks in and around Baghdad that left at least 14 people dead, most of them police officers, officials said. The attack on the shop, in the Urr neighbourhood of north Baghdad, left eight people dead, the interior ministry said on its website, including the two owners of the shop and four members of the security forces. A medical official said nine people were killed and 14 wounded in the attack. Among the people hurt were five police, four soldiers and two wounded. “At first we heard shootings from the other side of the market, near the police checkpoint,” said eyewitness Maitham Moussa, 30, who owns of a dairy shop about 50 metres from the jewellery stores. “Then we heard shootings very close to us. When the women started to yell, they started to open fire into the air and set off sound bombs.” He said people fled the area and huddled together in a nearby alley to escape the siege. “I saw a woman was lying on the ground with a toddler,” Moussa said. “There was blood near the woman, but I’m not sure if she was injured or if was the baby’s blood.” A police officer said the gunmen stole gold and cash after the late-morning heist, which the insurgents pulled off despite a gunfight with nearby security forces. Iraqi Army General Hassan Al Baydhani of Baghdad’s military command said one of the gunmen was arrested but the rest escaped. Baydhani put the number of dead at six. Conflicting casualty totals are common in the immediate aftermath of attacks in Iraq. Gunmen also carried out two separate attacks in Tarmiyah, a town 45 kilometres north of Baghdad that was once a stronghold of Sunni insurgents and Al Qaeda, a police officer there said. “Three policemen were killed in an attack carried out after midnight by unknown gunmen on the municipal headquarters” in Tarmiyah, First Lieutenant Uday Sarhan told reporters, adding that the attack lasted half an hour. Gunmen also attacked a police patrol in Tarmiyah early Monday morning, not far from the first attack, killing two more policemen, Sarhan said. The interior ministry official confirmed the death toll of five in Tarmiyah, without giving further details. There was no immediate claim of responsibility for Monday’s strikes, and numerous armed groups in Iraq have mixed attacks on political targets with money-making criminal operations. But Al Qaeda in Iraq for years has been believed to fund itself in part with cash and gold stolen from jewellery stores. US officials as recently as September said jewellery robberies were a main source of funding for Al Qaeda in Iraq as it grapples with dwindling financial support. The Sunni militant movement also frequently targets officials of the Shiite-led government in a campaign to undermine confidence in its authority. Monday’s violence comes a day after security officials said gunmen using silencers killed the Tarmiyah town mayor’s bodyguards and four of the victim’s female relatives. Violence in Iraq has declined since its peak in 2006 and 2007 but attacks are still common. According to official figures, 150 people were killed in February. Although violence has dropped significantly since the sectarian fighting that brought Iraq to the edge of civil war just five years ago deadly attacks still happen almost every day. http://gulftoday.ae/portal/ab0a20dc-b3c7-405f-9cc4-0af2cee61945.aspx

I sure hope they are talking about a revalue of the iqd Not a devalue of the usd Go SHABS

In March 2012, Chairman Ben S. Bernanke will deliver a four-part lecture series about the Federal Reserve and the financial crisis that emerged in 2007. The series begins with a lecture on the origins and missions of central banks, followed by a lecture that will discuss the role and actions of the Federal Reserve in the period after World War II. In the final two lectures, the Chairman will review some of the causes of, and policy responses to, the recent financial crisis, focusing specifically on the actions of the Federal Reserve. The lectures are being offered as part of an undergraduate course at the George Washington University School of Business. Live video of each lecture will be available to the public at http://www.ustream.tv/federalreserve . Transcripts and video recordings will be made available following each lecture. Lecture 1: Origins and Mission of the Federal Reserve Watch live on March 20, 2012 12:45 p.m. ET Lecture 2: The Federal Reserve after World War II Watch live on March 22, 2012 12:45 p.m. ET Lecture 3: The Financial Crisis and the Great Recession Watch live on March 27, 2012 12:45 p.m. ET Lecture 4: The Aftermath of the Crisis Watch live on March 29, 2012 12:45 p.m. ET http://www.federalreserve.gov/newsevents/lectures/about.htm

I needed that laugh PD41 Thanks

Turkey must convince Iran over Iraq: VP Deniz Kilislioğlu CNNTürk - ARBIL Iraqi vice president urges Turkey to pressure Iran against interfering in the internal affairs of Iraq, pointing to Turkey’s role in Tehran’s nuclear course. He also expects concrete measures from other countries for his case CNN reporter Deniz Kilislioğu ® interviewed with Iraqi VicePresident Tariq Al-Hashemi in Iraq. Al-Hashemi hints that Turkey could potentially impose pressure on Iran, as the latter needs Turkish support over its nuclear program. Iraq’s exiled Sunni leader, Tariq al-Hashemi, has urged international and regional countries to take tangible measures to stop the judicial process launched against him by the Shiite Prime Minister Nouri al-Maliki, ahead of the first hearing set for May 3. He particularly focused on Turkey, asking it to try to pressure Iran against interfering in the internal affairs of Iraq. “I expect tangible measures. Steps should be taken to stop this illegal judicial process. Everyone should admit this is a strategically important case,” al-Hashemi said in an interview in northern Iraq, where he has been hosted by Iraqi Kurdish leaders following Maliki’s attempt to arrest him for his alleged links to terrorist acts. The move, which came only days after American troops withdrew from Iraq, ignited the Sunni-Shiite tension in Iraq and exposed Iranian influence in Iraq’s fragile political landscape. Although al-Hashemi did not detail the tangible measures that could be taken, he hinted that Turkey could potentially impose pressure on Iran, as the latter needs Turkish support over its controversial nuclear program. “I am expecting a change in Iran’s policies. I think Iran is very much in need of Turkey. Turkey is the only mediator over its nuclear case,” he said. “Turkey should convince Iran to leave Iraq alone and to not interfere in Iraq’s internal affairs. No one is trying to make conditions more difficult for Iran, but it should be aware of Iraq’s sovereignty and respect Iraq’s dignity,” al-Hashemi said. Expressing thanks for the support he has received from Turkey so far, al-Hashemi underlined that this support was not lent just because he was a Sunni politician, but because Turkey wanted a stable Iraq in which all different political groups can coexist. “The support Turkey gives is not for nothing. Turkey would also defend al-Maliki if he faced similar injustice,” he stated. “I hope that Turkey and other regional countries will take this issue within the frame of respect for the Office of the Vice President and legal values, rather than as my personal problem.” The role Americans played in the eruption of the Sunni-Shiite crisis is also significant, al-Hashemi suggested, criticizing Washington for turning Iraqis adrift and for not accomplishing the mission it launched. Hearing set for May 3 Unable to leave the residence provided to him by Iraqi Kurds, al-Hashemi is now waiting for May 3, the first hearing of his case. His earlier appeals to be tried in a city other than Baghdad were refused by the court. Although his political career is at stake, he now declares that, under current conditions, he will not set foot in the capital. “I exercise my entire freedom without any restrictions, without any constraint. But al-Maliki destroyed my entire structure in Baghdad. All my bodyguards have been arrested, my possessions have been taken,” he said. Not seeking refuge outside Iraq The Sunni leader talked warmly about the hospitability he received from Iraqi President Jalal Talabani and from the President of Iraqi Kurdistan’s regional Government, Massoud Barzani. The duration of his stay in northern Iraq depends on the case, he underlined, denying that he has plans to flee Iraq. Both Prime Minister Recep Tayyip Erdoğan and Foreign Minister Ahmet Davutoğlu are encouraging him to stay in Iraq, but he does not leave the door closed for a brief visit to Turkey in the near future. The “lonely man” of Iraq appears to be resentful and sad, but al-Hashemi is still trying to appear powerful, and lives in the hope of returning to Baghdad one day. “I am still the vice president of Iraq,” he said. http://www.hurriyetdailynews.com/turkey-must-convince-iran-over-iraq-vp.aspx?pageID=238&nid=15776&NewsCatID=338

Hashemi: My being Sunni not reason for Turkish support 0 2 Iraq's Vice President Tareq al-Hashemi (Photo: AP) 11 March 2012 / TODAY'S ZAMAN WITH WIRES, İSTANBUL Iraq's fugitive Vice President Tareq al-Hashemi has said he has Turkey's support not because he is a Sunni politician but because Turkey is protesting injustice in Iraq's worst political crisis since the US invasion nine years ago. Iraq's Shiite-led central government wants to try Hashemi -- one of the country's top Sunni politicians -- on charges of running death squads in a case that raised fears of an increase in sectarian tension after US troops withdrew from Iraq in December. Hashemi said in an interview with Turkey's television station CNN Türk that he knows Turks are sympathetic and understand his situation, which he described as “dire.” He said that despite some of the limitations in Turkey's capacity to help, he is delighted and pleased to have Turkish support. He noted that he hopes Turks will continue to support him in his political situation. The Iraqi central government issued an arrest warrant for Hashemi on the eve of the US withdrawal, prompting a political crisis, with Hashemi's Sunni-backed Iraqiya bloc announcing a boycott of parliament and the Shiite-led cabinet, and raised fears of a renewal of the sectarian violence that killed tens of thousands of people between 2006 and 2007. The crisis has abated somewhat in recent weeks, as most members of the Iraqiya bloc have decided to lift the boycott, but Hashemi has remained holed up in the autonomous Kurdish zone in the north of the country. He says he cannot receive a fair trial in Baghdad and has asked to be tried in Kirkuk, a city divided between Sunni Arabs and Kurds. The government says the case is purely criminal, the prosecution is independent and the government cannot intervene. A Baghdad judiciary panel rejected moving the case to Kirkuk and set a trial for May in Baghdad. Iraq's Interior Ministry said last week that it has demanded Kurdish authorities arrest him. The crisis was followed by a wave of attacks in December, January and February on Shiite neighborhoods, including a suicide bombing on a Shiite funeral procession that killed 31 in Baghdad, an attack on Shiite pilgrims that left 53 dead in Basra and a string of attacks across Iraq that killed at least 55. Days after the American military left, a wave of bombs targeting Shiites on Dec. 22 killed at least 69 people. That happened twice more over the following three weeks, killing 78 and 53, respectively. Iraq's vice president said he hopes Iraq will completely restore its stability and establish cooperation among Iraq's different political factions. “This is what Turkey also wants,” Hashemi added. He stressed that Turkey's support of Hashemi is not “futile” and that Turkey would also support Nouri al-Maliki if there is any injustice towards the Iraqi prime minister. “Support for Hashemi is not because Hashemi is a Sunni,” the vice president said, noting that Turkish leaders understand the situation he is in and he can easily talk to Turkish Prime Minister Recep Tayyip Erdoğan and Foreign Minister Ahmet Davutoğlu whenever he wants. Hashemi said it is his legitimate right to be tried in Kirkuk and he will not leave the Kurdish region for Baghdad. He indicated that he is not currently planning to travel abroad, even to Turkey, and acknowledged one of the first foreign officials he spoke with following the crisis last December was Davutoğlu, who urged him to stay in Iraq. Hashemi said the Kurds embraced him because they do not tolerate injustice and that they fear that they could be the next target of the central government in Baghdad if they do not act to resolve the injustice. Maliki is planning to organize a political conference soon, and Hashemi says there are important matters that need to be resolved before the conference, aimed at reconciling Iraq's rival groups, is held.Hashemi said it is still not clear whether or not they will send delegates to Baghdad in the case the venue of the national conference is in Baghdad. He said the authorities have jailed his guards, while others have fled government prosecution. Hashemi added that if the government will provide the necessary security for himself and his delegates, his participation in the national conference may be possible. Speaking with regards to Turkish-Iraqi relations in the face of the latest quarrels between Erdoğan and Maliki, Hashemi said the current situation is not something he wants to see. He said Erdoğan's anger towards Maliki stems from the Turkish prime minister's awareness of Hashemi's situation. He indicated he had told Erdoğan about how Maliki had jailed Hashemi's guards and deployed tanks in front of his house. Erdoğan and Maliki have exchanged harsh words over the past few months with regards to the political crisis that has escalated violence in Turkey's southern neighbor, which is also one of its largest partners in trade. Erdoğan accused Maliki of augmenting his power in Baghdad at the expense of isolating Sunni politicians and igniting civil strife that could plunge the war-torn country into a new cycle of violence. Maliki harshly slammed Erdoğan for remarks he says represent interference in Iraq's domestic affairs. Maliki claims that Erdoğan is supporting Sunnis in Iraq and that Turkey's position could have “tragic consequences” for Iraq. http://www.todayszaman.com/news-273966-hashemi-my-being-sunni-not-reason-for-turkish-support.html

Path Solutions Implements Islamic Banking Solution at Cihan Posted on 09 March 2012. Tags: banking, Cihan Bank, Path Solutions Path Solutions has announced the successful go live of iMAL at Cihan Bank, Erbil. Cihan, the first privately owned bank in Kurdistan first partnered with Path Solutions in October 2009 on this multi-lingual, multi-currency and multi-channel implementation. Specifically in this deployment, Path Solutions implemented the following scope in line with the bank’s expectations: Retail Financing, Treasury, Investment, Branch Automation, Trade Finance Operations, Islamic Profit Calculation and Central Bank Reporting. Cihan is a running Retail Bank with a paid up capital of 150 Billion IQD i.e. 127 million USD. It has been operating since April 2009, providing its services through 7 branches all over the country. The bank is a member of Cihan Group which is one of the biggest groups in Iraq, with business lines spread in many fields such as cars trading, construction, education, media, insurance and general trading. “The implementation at Cihan Bank encountered major challenges mainly due to the Iraqi banking environment in general and specifically in Erbil. The bank was operating without the existence of a banking system and therefore most of the operations were executed and maintained manually. The challenges were of a different kind, where lots of efforts and time were spent on convincing the end users to rely on a banking system prior to convincing them to go with iMAL ”, explained Alain Abou Khalil, SVP Professional Services, Path Solutions. Abou Khalil continued: “We are excited to see the successful go live of iMAL – our first live user in Erbil out of 4 customers we have in Iraq. We pride ourselves on being able to support the specific needs of Cihan Bank, and ensuring we can serve their local requirements. iMAL will allow Cihan Bank to quickly deploy innovative Islamic banking products to an expanding customer base”. Path Solutions’ iMAL provides a 360-degree view of customer relationships and transactional information across channels, allowing Cihan Bank to understand customers’ needs and rapidly identify cross-selling and up-selling opportunities. The highly scalable infrastructure of iMAL Islamic banking solution will enable Cihan Bank to meet its projected expansion plans, whilst contributing to the economic growth of the country. Naz Bajger, Director – Head of IT, Cihan Bank said: “We needed a very reliable banking solution that could provide us with the means for next generation growth. With the successful implementation of the best-of-breed iMAL Islamic banking solution, we now have a robust platform that will grow and evolve with us and will help us manage efficiently our network operations. I would like to thank the teams for their professionalism and constructive efforts in the implementation and support of this project particularly the Project Managers Abbas Aljawahiry and Dina Moh’d who were dedicated on a full time basis to deliver quality output. I am very glad to see that the joint efforts led to the success of this project”. At a time of greater market regulation and increasing customer demands, Islamic banks need to reposition themselves. The seamless rollout of the iMAL Islamic banking solution at Cihan Bank illustrates nicely the performance of iMAL in boosting the bank’s competitiveness as well as the broadest experience of Path Solutions’ PS team in managing such challenging implementations. (Source: Path Solutions) http://www.iraq-businessnews.com/2012/03/09/path-solutions-implements-islamic-banking-solution-at-cihan/

Getting closer!

Early payday! To increase the joy and rejoicing of Nowruz, We shall see. Sunday March 11th Go Shabs

So Ban Ki Moon is going to the summit also. Who knows, Maybe the UN had the vote to release Iraq from Chapter 7 already. Ban Ki will be on hand to make announcement ??? Go Shabs!!

Gov. Shabibi has on numerous occasions indicated that the CBI would take the necessary steps to control inflation, CBI website shows core inflation for January at 6.07 % I'm thinking its well above 7% now. Also this is another good cover story for the conspiracy theorists. Thanks Rayzur GO SHABS!!!

Things could get worse but remember Its not a huge organized effort to blow things up and cause disruption. I believe its the work of a few. Heck we had a guy here in Los Angeles that started 50 apartment fires in one weekend a couple of months back. One Guy!!!!

Interesting pictures timeline on link Iraq violence continues after US withdrawal Photo timeline of unrelenting attacks that have kept killing several hundred per month since American troops pulled out. Ben Piven Last Modified: 08 Mar 2012 10:46 Since the withdrawal of the last US combat troops from Iraq on December 18, 2012, a series of deadly attacks have threatened to plunge Iraq into renewed chaos. Many armed groups that had challenged US forces were significantly pacified by the end of the military presence, but the US departure threatened fresh tensions between Sunnis and Shias, Kurds and Arabs, Muslims and Christians. Attacks since the US troops left have occurred in many different parts of the country, striking at the diverse Iraqi ethno-religious fabric and making it increasingly difficult to improve the nation's infrastructure, in shambles after almost a decade of war. The political conflict has been ratcheted up by the Shia-led government's arrest warrant for Tareq al-Hashimi, the country's vice-president and most senior Sunni official, wanted on terrorism charges. A vote of no-confidence against Saleh al-Mutlaq, a Sunni deupty prime minister and leader of the Iraqiya bloc, has also contributed to a political disorder, raising concerns that the surge in violence and an escalating political crisis might deteriorate into civil war. While violence has dropped sharply since the heights of sectarian conflict in 2006-2007, attacks remain a sheer fact of daily life, with several hundred Iraqis killed each month. Prior to the US pullout, the average for 2011 was between 223 and 340 dead per month, depending on which statistics are used. For 2012, the Iraq Body Count (IBC) organisation reported 451 civilians dead in January, compared to 390 in January 2011, for which the Iraqi government had reported 210 dead. IBC says 278 civilians were killed in February 2012 - more than that group's toll of 250 for February 2011, which the Iraqi government put at 160. The group also says 74 civilians have been killed in March thus far. In the captions below, click on hyperlinked dates for more information about major attacks since December 18. http://www.aljazeera.com/indepth/inpictures/2012/03/201237933141115.html