Chatroom Log Wednesday

[20:08:00] AMG: cmon next week!!
[20:08:08] AMG sent an audio message: Drumroll
[20:13:42] teledive: who ticked off the economic commitee?
[20:22:15] TRC: just look at what CBI Governor says
[20:22:37] TRC: he said deleting the zeros is in the plans of CBI
[20:22:55] TRC: they will not give day of rv
[20:24:00] TRC: Iraq becomes full member of WTO middle of year,they need credit rating , and a convertible currency
[20:27:56] AMG: sure do
[20:28:53] TRC: dont get too involved in politician’s statements
[20:30:06] AMG: dislikes politics :-(
[20:30:08] teledive: thanks trc never crossed my mind to not their politicians are as bad as ours
[20:30:27] AMG: lol
[20:30:49] AMG: ours lowers the bar
[20:30:55] AMG sent an audio message: Laugh
[20:31:16] teledive sent an audio message: Say What?!
[20:31:22] TRC: :-D
[20:31:25] teledive sent an audio message: Laugh
[20:31:53] TRC: CBI Governor said deleting the zeros are in the plans of the bank..
[20:32:07] TRC: what else do you need to know
[20:32:08] AMG sent an audio message: Oh Boy!
[20:32:32] TRC: a date? he will never share that
[20:32:38] TRC: :whistle:
[20:32:49] AMG: can’t
[20:33:07] TRC: there will just be a rv.. then they will announce the rest
[20:36:03] TRC: its good news to see the Governor of CBI say it is in the works!
[20:36:22] AMG: sure is…………very good
[20:36:22] TRC: thats all he can say
[20:36:28] AMG: ^.^
[20:38:46] TRC: what central bank ever told public they were going to rv , at certain date, or within certain time period ever?
[20:39:21] TRC: you got to do your research
[20:39:32] TRC: make due diligence
[20:39:40] TRC: on your own
[20:42:30] TRC: :)
[20:42:49] TRC: of course I will give My opinion if asked
[20:42:52] TRC sent an audio message: Drumroll
[20:43:05] TRC: :-D
[20:43:08] AMG sent an audio message: Drumroll
[20:47:10] AMG: is just waiting for IT to appear like a light in the dark
[20:48:44] AMG: Voila!!!!!
[20:48:50] AMG sent an audio message: Drumroll
[21:07:33] TRC sent an audio message: Drumroll
[22:20:48] ronnie: TRC does Iraq have to revalue currency before x-stream
[22:21:40] TRC: well, would think so, it makes sense..
[22:21:57] TRC: but it is not something they have to do
[22:22:11] TRC: they dont have to do anything
[22:23:29] ronnie: well i have heard all kinds people say yes and no
[22:23:36] TRC: lol
[22:23:50] TRC: got to make your own mind up,
[22:24:02] TRC: but we got to see what happens
[22:24:24] ronnie: I know
[22:24:52] TRC: did you read chatlog yesterday
[22:25:01] ronnie: yes
[22:25:23] TRC: makes perfect sense to bring currency online also next week
[22:25:49] ronnie: I am going to read it again
[22:28:08] ronnie: I know but my brain is on overload from reading all the articles on zeros
[22:28:40] TRC: every October they decide whether they are moving forward or staying put
[22:29:16] ronnie: 26TH, next year, 5 years
[22:30:11] TRC: dont know what to say on 5 years
[22:30:17] TRC: :whistle:
[22:30:54] TRC: according to the plan on changing to small denominations it is supposed to take 2-3 years
[22:31:24] ronnie: I had high hopes for this but those hopes are fading fast
[22:31:40] ronnie: goverment
[23:23:40] TRC: Governor of CBI announced
[23:24:04] TRC: stressed that the new currency which will be issued soon, with the fifty thousand dinars will be in both Arabic and Kurdish –
[23:24:24] TRC: including coins

New currency category of 50,000 dinars will be written in Arabic and Kurdish

Khandan -ali Naji

The parliamentary Economic Committee, said that the CBI had told her that the new currency to be issued by the same group (50,000 dinars) will be written in Arabic and Kurdish.

A member of the committee MP Osman Dosky in a statement to “Khandan” that “the Commission has hosted during the past two days, the central bank governor Alak, the debate on the inclusion of the Kurdish language within coins of Iraq,” adding that “Alak welcomed this idea, stressed that the new currency which will be issued soon, with the fifty thousand dinars will be in both Arabic and Kurdish, as well as the rest of the coins, which are issued in the future. ”

Dosky said that “the House of Representatives asked the Kurds of relationships during the meeting as well, the need for the opening of branches of the Rafidain and Rasheed provinces of the Kurdistan region, for the purpose of benefiting the staff of the region of 100 salary advance,” explaining that “the position of Governor of the Bank was positive about their demand.”


The Governor of the Central Bank: the deletion of zeros in on the Bank plan


And brother-Baghdad
The Central Bank Governor said that “the issue of cancelling zeros from Iraqi currency is linked to the security situation in the country.

Allaq said in a press statement obtained by the news agency news (and brother) said Wednesday that “the issue of cancelling zeros from Iraqi currency into the Bank plan over the coming years will be to implement this project as there is stability in the security situation will accelerate the implementation of this project and remove yellowing from the currency”.

The Iraqi Government had a project about deleting three zeros of the Iraqi currency to reduce inflation in the currency but it has been postponed many times.

Agency for News

Iraq agrees to a deal worth 278 million dollars with Halliburton

Twilight News / government statement said that the Iraqi Council of Ministers has agreed to a deal worth 278.5 million dollars, with American Halliburton oil services for oil field south of West Qurna-1.

The statement, seen by “Twilight News” said that under the contract, which extends to 30 months Halliburton will drill 30 oil wells in the field, the first phase of West Qurna, which is being developed by Exxon Mobil Corporation of America. The field has reserves of 8.7 billion barrels.

The average oil production in West Qurna -1 around 360 thousand barrels per day due to problems related to low levels of water pumping required to boost production.

Iraq laid rewarding contracts to develop oil fields to major companies such as Royal Dutch Shell, BP and Exxon Mobil ambitious aim is to increase the capacity of oil production to between 8.5 million and 9 million barrels per day by the year 2017.

Twilight News

Economic Commission: to delete the zeros will be implemented over the next five years

BAGHDAD / JD / .. the parliamentary Economic Committee, excluded the application of the project to delete the three zeroes from the currency early next year in 2015, while suggesting it had agreed with the Central Bank to implement the project over the next five years.

Committee member Nora told Albjara / JD /: said that “its Committee met with the Governor of the Central Bank Alaki and discussed with him the most important issues related to the monetary policy of the country, including the project to delete the three zeroes from the currency.”

She added: “The Governor of the Central Bank and the Agency confirmed that the project to delete the zeros is ready technically and logistically and waiting for the right time to implement it,” noting that “it was supposed to be applied since 2013 and until 2016, but the security conditions and the economic situation is stable led to the identification another period by the central bank to be applied starting from 2015 up to 2020.”

Albjara ruled out, the application of the project in the next year and even the years 2016 and 2017, due to the lack of appropriate conditions for the application of such a large project.

A member of the parliamentary Economic Committee Abdul Salam al-Maliki pointed out earlier that the central bank will begin to apply the project early next year 2015.

Dananer News

Economic committee representative rejects the deletion of zeros from the currency

[In Baghdad]

The parliamentary Economic Committee, rejected Tuesday, deleting zeros from the currency.

Deputy member of the Committee Kazem said all in Iraq, that “country not ready to delete the zeros”, noting that “the Governor of the Central Bank for relations tell us that direct the deletion will be in 2016.”

“The Central Bank issued days before a class of 10,000 dinars and its specifications are good and difficult to falsify.”

The previous Cabinet had decided on 10 April 2013 wait at apply the deletion of zeros from the local currency to further notice after deciding to apply earlier.

The officials at the Central Bank, in addition to some politicians and economists urged the Government to delete the zeros from the currency and issued new currency with large cash categories, in addition to small metal coins.


Chatroom Log Tuesday

[19:54:10] TRC: liked that article saying parliament approved deleting the zeros begining in 2015
[19:54:58] AMG: early 2015?
[19:55:27] TRC: well, deleting the zeros is issuing lower denominations remember
[19:55:50] TRC: thats what they are talking about
[19:56:06] TRC: rv should be much sooner
[19:57:10] AMG: yup
[19:58:21] AMG: before EOY ^.^
[19:58:27] TRC: Zebari officially takes on his new job Wednesday as minister of finance
[19:59:45] AMG: nice
[20:03:33] TRC: lots of good things happening
[20:03:54] TRC: feels like we are on threshold
[20:17:34] AMG: feels that way too
[20:18:25] AMG: tic-toc tic-toc goes the rv clock :whistle:
[20:19:00] AMG sent an audio message: Drumroll
[20:20:50] TRC: but closer we feel harder time seems
[20:21:17] AMG: for sure
[20:29:17] TRC: not good to see rv and people keel over in heart attack
[20:29:49] AMG: bummer for sure
[20:31:48] AMG: I thought that same thing……………rv then I get a stroke………but i’m cool
[20:32:51] AMG: I sure do want it…………but it won’t hurt me if it goes sideways
[20:35:35] TRC: everyone is invested to various degrees some more than others
[20:36:52] AMG: yes
[20:48:04] AMG: is eagerly waiting to see actually occurs on the 26th…………..
[20:48:32] Mighty Mouse: I haven’t heard you say what you did last October, TRC
[20:49:02] Mighty Mouse: I have waited to see if you would, but….you haven’t….
[20:52:11] TRC: say what
[20:52:19] Mighty Mouse: You told us that if it didn’t happen last October, that it would be another year. And, you were right….at the time, I thought you were wrong….but, you were right. I am holding you to your word…..
[20:52:38] Mighty Mouse: :-D
[20:52:49] TRC: well no delay this time around
[20:52:58] AMG sent an audio message: Oh Boy!
[20:53:08] Mighty Mouse sent an audio message: Drumroll
[20:53:13] Mighty Mouse sent an audio message: Oh Boy!
[20:53:25] Mighty Mouse sent an audio message: Yahoo!
[20:56:44] TRC: news this morning..
[20:57:20] TRC: parliament announcing new lower denoms will be printed released in 2015
[20:57:32] AMG: oh
[20:58:09] AMG: is not excited, just very encouraged ^.^
[20:58:27] TRC: ok
[20:59:17] TRC: if you recall last year in October, economic commission announced this is not good time to delete the zeros.. if you forgot
[20:59:40] TRC: will be postponed until next year
[20:59:49] AMG: senior moment
[20:59:52] TRC: lol
[21:00:23] TRC: this year, they are saying we will begin in 2015, which means they will begin now
[21:02:44] AMG: ^.^
[21:02:48] TRC: they are starting preparations to delete the zeros
[21:03:11] TRC: in those preparations there is rv, I assume
[21:03:51] TRC: that was talked about , for how many years
[21:04:47] TRC: but we dont know much of the process.. like foreign holders, time limits , etc.
[21:05:22] TRC: so we have to wait and see, on the value also
[21:05:58] Mighty Mouse: I knew you would say that.
[21:06:19] Mighty Mouse: :-D
[21:06:41] AMG: it’s what we do….for not much longer IMO
[21:06:57] Mighty Mouse sent an audio message: Oh Boy!
[21:07:05] AMG: before Xmas??
[21:07:52] Mighty Mouse: I hope so….I remember you telling me this months ago, AMG
[21:08:16] Mighty Mouse: your thoughts, that is……
[21:08:19] AMG: yup before EOY
[21:08:39] TRC: muslim new year starts October 24th
[21:09:25] TRC: fiscal year ends December 31st
[21:10:13] AMG: u r right trc
[21:10:43] Mighty Mouse: We have been talking about a possible date tonight….is anyone up to talking about a possible rate?????????????????
[21:11:06] AMG: nope
[21:11:32] Mighty Mouse: I remember the first time someone here asked me my thoughts on a possible rate.
[21:11:46] Mighty Mouse: I hadn’t been here long.
[21:11:59] Mighty Mouse: It might have been barnstormers….
[21:13:04] TRC: after all this time, would be happy if we get 1979 rate, but hoping for best
[21:14:23] AMG: is not greedy
[21:14:37] AMG: gimme .50
[21:15:35] design: 1 buck….
[21:17:06] Mighty Mouse: I think it will at least be $3…..
[21:17:43] Mighty Mouse: for the record………..
[21:18:08] AMG: $3 is TOO much……….imo
[21:18:27] TRC: according to ministry of finance, official rate is 3.20
[21:18:38] Mighty Mouse: I don’t think so, AMG……..jmho
[21:19:01] TRC: but whether we see it right off is question mark
[21:19:11] Mighty Mouse sent an audio message: Drumroll
[21:19:32] AMG: they will get there $3+
[21:21:46] TRC: there really is no official exchange rate right now, it is artificial value locally traded only

1st meeting of economic committee

Baghdad (Forat) –The Deputy Speaker of the Parliament, Roz Nouri Shawes, chaired the first meeting of Committee of the Economic Affairs.

Shawes’s media office reported in a statement received by Alforat News Agency ”The meeting, which was attended by the Minister of Finance Hoshyar Zebari and the Minister of Planning Salman al-Jumali, included discussing the current economic situation and the necessity of setting the appropriate plans to face the current challenges in order to upgrade the reality of service and economy in Iraq.”

”The meeting of the Economic Committee resulted in several resolutions aim at developing the economy and investment for the favor of public interest,” the statement concluded.

Alforat News Agency

Bitcoin Shop Successfully Mints Bitcoins

bitcoin shop

ARLINGTON, VA–(Marketwired – Oct 21, 2014) – Bitcoin Shop, Inc. (OTCQB: BTCS) (“Bitcoin Shop” or the “Company”), operator of the digital currency ecommerce marketplace, which is undertaking the build-out of a universal digital currency ecosystem, today announced that through its previously disclosed partnership with Hashmaster Tech, LLC (“Hashmaster”) its digital currency mining equipment is operational and minting bitcoins.

On September 25, 2014, Bitcoin Shop purchased approximately $42,000 of bitcoin mining hardware for its mining efforts. While operating just 60% of the mining hardware during the initial implementation and testing period and for only one week of operation, Bitcoin Shop’s mining efforts produced 2.62 bitcoins (net of all fees) valued at approximately $1,000 (based on an exchange rate of $382 per bitcoin). Bitcoin Shop has committed to invest another $60,000-$80,000 this month into its mining operations.

Charles Allen, Chief Executive Officer of Bitcoin Shop, commented, “Mining bitcoins is not an easy task and one that requires both technical and operational expertise. We are pleased with our initial results and anticipate having all of our recently purchased mining hardware online shortly. Moreover, we plan to rapidly scale our efforts in this business segment which we believe will not only fuel growth and drive revenue but also complement our other business lines.”

Market Wired

To serve Iraq’s cargo sector, Transworld Group and Nawah signed a deal

On Wednesday, Transworld Group of Dubai and Nawah announced that the two firms have entered into a formal agreement to service Iraq’s growing demand for imports by linking their considerable shipping, logistics, marine services and port capabilities.

As part of their agreement, Transworld Group and Nawah Port Management, Nawah’s port operations business unit, will team up to increase the flow of essential goods coming from the broader Middle East, Indian subcontinent, Far East and Southeast Asia into Port of Basra with seamless linkage to commercial centers throughout Iraq.

Ritesh S. Ramakrishnan, Transworld Group’s director of strategy and business planning, said, “Iraq stands at such an important moment of time — historically and commercially — and we are keen to play a part in this phase of growth.”

“The sheer scale and magnitude of development occurring today in Iraq, along with a growing middle class, requires logistical flows of epic proportions. Aligning with Nawah provides Transworld Group with first-class logistics solutions and unrivaled port operations in Basra and one of the most reliable door-to-door capabilities in Iraq,” explained Ramakrishnan.

Transworld Group, established in 1976, brings nearly 40 years of expertise in integrated shipping, logistics, multi-modal transport and marine services. The group owns and operates a fleet of 30 vessels and has offices at all major ports in the United Arab Emirates as well as other Arabian Gulf countries. The company also has significant presence in India, Pakistan, Sri Lanka and the United States.

Nawah Port Management operates the first modernised, containerised terminal in the Port of Basra, located in downtown Basra along the banks of the Shatt Al Arab waterway. Along with sister company Nawah Supply & Distribution, NPM offers customers a full spectrum of door-to-door, supply-chain capabilities for cargo being transshipped into UAE’s mammoth Jebel Ali Port and bound for Iraq’s oil and gas fields and commercial markets.

“Together with Transworld Group’s four decades of shipping experience and Nawah’s in-depth knowledge and operational capabilities within Iraq, we are confident that we will redefine logistics in the Middle East,” said Nicholas Kunesh, Nawah Port Management’s president and CEO. “Through our combined expertise, market reach, state-of-the-art technology and customer-focused shipping and logistics services, we will enable Basra to continue its accelerated march to becoming a key strategic trading centre in the Middle East, bridging East and West.”

Transworld Group and Nawah have already initiated joint cargo movement from Jebel Ali Port to NPM’s Port of Basra terminal with containers from Transworld Group’s Balaji Shipping Lines transiting via NPM’s feeder vessel service into southern Iraq.

Iraq Directory