Personally, I think the CBI and the government need to be mindful of what a "weak" currency will cause - for example, see the following article
Czech Deal for Combat Planes ‘Complicated’[You must be registered and logged in to see this link.]May 13, 2015 in [You must be registered and logged in to see this link.]By John Lee.
The weak Czech crown is complicating the recently-agreed sale of the Czech L-159 combat aircraft to Iraq, according to reports from Prague Monitor and Hospodarske noviny (HN).
The Czech government now wants Penta, the owner of the mediating firm Aero Vodochody, to pay it 850 million crowns ($35 million, 41 billion Iraqi dinars), 100 million crowns more than originally agreed.
Aero Vodochody will make the aircraft combat ready and provide equipment, ammunition and training, and may earn billions of crowns from the subsequent servicing of the aircraft.
(Source: Prague Monitor)
I HAVE ANOTHER THOUGHT, could all of this information be dis-information and just be smoke and mirrors - see the following article -
Atlas Knowledge Wins Iraq Training Contract [You must be registered and logged in to see this link.]
Atlas Knowledge Wins Iraq Training Contract
May 13, 2015 in [You must be registered and logged in to see this link.], [You must be registered and logged in to see this link.]International learning solutions provider Atlas Knowledge has signed a landmark deal that will see it work with the Iraqi Government to deliver world class safety and technical training to the country’s burgeoning oil and gas workforce.
The contract with the Ministry of Oil and Baghdad Oil Training Institute (BOTI) will see Atlas Knowledge deliver a total of 35 courses at 16 technical colleges across the country as part of a project sanctioned by the Ministry of Oil’s Department of Training and E-learning.
Situated in the Al Wazriah district of Baghdad, BOTI is the biggest facility of its kind in Iraq and is considered one of the largest Arab oil institutes in the world. It is the first partnership between the two organisations and will see around a potential 350,000 people access Atlas Knowledge’s e-learning courses.
“This is a region where Atlas is experienced in delivering learning programmes for the oil and gas industry through the roll out of global initiatives such as International Minimum Industry Training known as IMIST. It is however the first time we have partnered with the Ministry of Oil to deliver such a large-scale project,” said Robert Morgan (pictured), Atlas Knowledge’s chairman.
“Iraq has opened its doors to international investors in recent years in order to expand its infrastructure and meet its ambitious oil and gas targets. The significant rise in exploration and production activity is matched by the massive expansion in skills and labour development.
“There is a serious desire within the government and the Ministry of Oil to invest in its manpower through the use of innovative technology and world-leading best practice standards. This will ensure the workforce has the skills, knowledge and competence to capitalise on the wealth of opportunities within the region. BOTI has been in the forefront of deploying best in class technologies that enhance the skills of the Iraqi workforce.”
The deal will see Atlas Knowledge deliver courses including safety and technical subjects within oil and gas targeted towards new entrants and offers the current workforce an opportunity to upskill. Overall, the programme aims to enhance and segment the skills of both new recruits entering the industry and makes the training available to employees of national oil companies in Iraq.
“Deploying technology to deliver training is a powerful tool in expanding the skills, efficiency, influence and motivation of employees within exploration and production companies and we are pleased to have been selected to support the Iraqi Government on this exciting project,” added Mr Morgan.
Salah Zaini, project manager for Training and E-Learning at Ministry of Oil, said:
“We are pleased to roll out this e-learning initiative with Atlas Knowledge. It is a novel project and one of its kind, the long term goal of the project is to contribute to the skill pool development in Iraq within the oil and gas industry which is a vital engine for Iraqi economy.”
Ehsan Reza Mirza Ahmad Sharif, director of BOTI, said:
“We continue to strive to support the goals of the government of Iraq and the Ministry of Oil towards augmentation of skill pool development and creating a sustainable workforce development model. BOTI has state of the art facilities for training and e-learning is an addition to our commitment towards learning and development.”
(Source: Atlas Knowledge)
The first article about the planes and this article clearly show that Iraq is serious about building and protecting their country. In other business news sources, there are many reports of contracts being signed, if the contracts are, in fact, being signed and not just being negotiated, then there is a contract rate and the companies are pleased with that rate or they would not be "signing on". I feel that the Ministry of Planning will not reveal the contract rate until after the revalue of the dinar. After this Imam "holiday" is over and Iraq gets back to "business" next week, it will be interesting to see what other news is presented. Sometimes, following the business news from sources outside Iraq can be more reliable because the companies are "bragging" about the contracts they secured. We must remember that companies and Central Banks - are in the business of making money - they are not in the charity business.
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