Post From Peoples Dinar
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
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.
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
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/