Post From Peoples Dinar
Stevel: Greetings,
One of our team members sent this to me yesterday but could not post from home. I would like to share these and let you decide of they are worthy of being good articles.
The first one deals with Kuwait's breech and a message to the Iraqi Prime Minister.
Read this use the figures that are stated and see if you get a rate of over $3.30. Plus, all these contracts we see and hear them making have rates attached or within them and those rates are over and over calculates over $3.00 to usd .
Kuwait's Zain writes to Iraq PM to complain of treaty breach
By Reuters
Wednesday, 2 March 2016 8:28 PM
Stevel: Greetings,
One of our team members sent this to me yesterday but could not post from home. I would like to share these and let you decide of they are worthy of being good articles.
The first one deals with Kuwait's breech and a message to the Iraqi Prime Minister.
Read this use the figures that are stated and see if you get a rate of over $3.30. Plus, all these contracts we see and hear them making have rates attached or within them and those rates are over and over calculates over $3.00 to usd .
Kuwait's Zain writes to Iraq PM to complain of treaty breach
By Reuters
Wednesday, 2 March 2016 8:28 PM
Kuwait's Zain, which has $430 million frozen in Iraqi bank accounts, has written to Iraq's prime minister saying Baghdad had breached a bilateral investment treaty between the two countries, said a source familiar with the matter.
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The spat could worsen relations between the two Arab neighbours a few months after Kuwait let Iraq postpone paying $4.6 billion in war reparations until 2017, helping ease strains on Baghdad's finances following the slump in oil prices.
Zain is majority shareholder in Zain Iraq, the country's No.1 mobile operator by subscribers, which has the equivalent of 128.82 million dinars ($429 million) frozen in local accounts. |
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The freeze was implemented at the behest of Iraq's tax authority, which in 2011 said Zain Iraq owed $185 million in unpaid capital gains tax on the operator's $1.2 billion acquisition of rival mobile company Iraqna in 2007.
Unusually, the government has tried to levy capital gains on Zain Iraq as the asset buyer, rather than on the seller, Egypt's Orascom Telecom, which was later renamed Global Telecom . An Iraqi court is due to hear Zain's appeal against the tax bill on March 8.
Zain and Iraqi communication ministry officials declined to comment on the letter, while Global Telecom did not respond to requests for comment.
In the letter, to Iraq's Prime Minister Haider al-Abadi and several government departments, Zain argues the state had breached several of the terms of the investment treaty between Kuwait and Iraq, the source said, speaking on condition of anonymity.
Such investment treaties are reciprocal agreements to protect private investments by people or institutions from one country into the other, and typically allow for foreign investors to directly sue states over any dispute via international arbitration rather than through local courts.
Zain, which has successfully appealed against nearly $5 billion of fines and claims in Iraq, would still prefer to reach agreement with the government rather than pursue international arbitration, the source added.
Iraq's tax authority also says Zain Iraq, whose net profit last year was $122 million, owes $175 million in unpaid income tax for the years up to and including 2010.
Link to topic: http://www.arabianbu...ml#.Vt2ZZNCE1-j
http://ift.tt/1Qzlo9j
The other article is pretty good also.
One of our members noticed a new change to the CBI today that just gives more confirmation about Iraq’s plans to go global in the near future. Go to the homepage using the following link: http://cbi.iq/
Unusually, the government has tried to levy capital gains on Zain Iraq as the asset buyer, rather than on the seller, Egypt's Orascom Telecom, which was later renamed Global Telecom . An Iraqi court is due to hear Zain's appeal against the tax bill on March 8.
Zain and Iraqi communication ministry officials declined to comment on the letter, while Global Telecom did not respond to requests for comment.
In the letter, to Iraq's Prime Minister Haider al-Abadi and several government departments, Zain argues the state had breached several of the terms of the investment treaty between Kuwait and Iraq, the source said, speaking on condition of anonymity.
Such investment treaties are reciprocal agreements to protect private investments by people or institutions from one country into the other, and typically allow for foreign investors to directly sue states over any dispute via international arbitration rather than through local courts.
Zain, which has successfully appealed against nearly $5 billion of fines and claims in Iraq, would still prefer to reach agreement with the government rather than pursue international arbitration, the source added.
Iraq's tax authority also says Zain Iraq, whose net profit last year was $122 million, owes $175 million in unpaid income tax for the years up to and including 2010.
Link to topic: http://www.arabianbu...ml#.Vt2ZZNCE1-j
http://ift.tt/1Qzlo9j
The other article is pretty good also.
One of our members noticed a new change to the CBI today that just gives more confirmation about Iraq’s plans to go global in the near future. Go to the homepage using the following link: http://cbi.iq/
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Below is what you will find in the center of the page. The last link (CBI Strategic Plan 2016-2020) was posted last night after an important CBI meeting.
The entire 22 page document is about Iraq’s plans for International Banking and Commerce. There is some interesting stuff in here for those that like to read. This is a new posting and it talks about international plans. I downloaded and put it on our servers for you to reference. |
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This is a 23 page report. Very good and extremely positive.
I can assure one one thing, this 5 year plan is not based on the current rate they currently have. That will just not happen. Link to the PDF for you to download: http://ift.tt/1puXXVS I will update you on this one is a little while. We have several people reading it. Steve |
via Dinar Recaps - Our Blog http://ift.tt/1Qzlmy0
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