Thread: Archive News - Iraqi Dinar Think Tank - 24/01/201 - 23/07/2011

Government adviser calls for banks to integrate into Baghdad for the formation of large capital

Advised adviser in the Iraqi government banks, the capital, Baghdad, integration with each other to form a strong economic capital and a large support and presence.

Salam al-Quraishi, said in a statement that the merger of private banks, among them in the capital Baghdad, will provide capital that can support a strong economy in Baghdad and the capacity to provide cash distinctive.

Acharalqrici and that the banks current intelligence found in Baghdad can not provide the infrastructure for the advancement of economic reality in the capital are still being modest working capital funds.

http://radionawa.com/Ar/NewsDetailN....855&LinkID=155

World Bank allocates $ 10 million to restructure the bank of good and Mesopotamia

The director of the restructuring of the banking unit of good Iraqis and Iraq, on Saturday, the World Bank allocated U.S. $ 10 million grant to restructure the government bankers.

Majid said the picture of the Kurdistan News Agency (Rn) "The World Bank allocated $ 10 million to restructure the banking rational and Mesopotamia and the General Directorate of Banking and credit during the next two years."

He explained that the picture of "unity of action which consists of a chairman and two contracts and financial affairs will in the coming period to contract with international companies to manage file and the training of cadres of the two banks, the Directorate General of Foreign Exchange."

Announced earlier in the unit restructuring Iraqi banks were to extend the work unit banks for a period of one year because of security concerns.

And "The Unit coordinates with the Office of Financial Supervision and the Central Bank and the Ministry of Finance to regulate the process of restructuring the banking and development of electronic banking transactions."

Iraq had decided in early 2006 to restructure banks in order to get rid of heavy debt.

The Ministry of Finance of Iraq for its efforts during the next year to develop an integrated plan to develop e-government banks and financial relations in the activation of this aspect.

The Iraqi government is still limited to its financial transactions on the government banks adopted it by 85%.

And called on the Ministry of Finance earlier in the Iraqi Central Bank to take resolute action in granting licenses for the establishment of private banks.

http://www.aknews.com/ar/aknews/2/219409/

Consultations between the Finance Committee and specialists in the Ministries of State for the purpose of access to an integrated budget

Explained the Finance Committee in the House of Representatives Najeebeh Najib said in an interview to Radio that there are consultations between the Commission and specialists in the ministries of the State about the details of expenses for state institutions to work for the transfers between the sections of less importance to the doors of more than a necessity.

http://radionawa.com/Ar/NewsDetailN....775&LinkID=155

Iraqi Deputy: House of Representatives to postpone the hearing for hours due to non-completion of amendments to the budget on the budget

has announced the MP for the coalition of Kurdish blocs, Sunday, the Iraqi Council of Representatives for its time to the second Sunday afternoon because of the debates and arguments on the general budget.

longings dry Kurdistan News Agency (Rn) that "to postpone the meeting until two o'clock this afternoon, was due to non-completion of the parliamentary Finance Committee amendments to certain paragraphs of the federal budget scheduled to be voted on at today's meeting."

The dry that "the House of Representatives decided to postpone its, in order to make some amendments to the federal budget because the Finance Committee was unable to finish their amendments on Saturday in particular paragraph pertaining to the ration card."

She said that "Council is determined to vote on the federal budget for the fiscal year at today's meeting, and I promise the Iraqi people, which is expected to proceed with approval of the launch of appointments and the provision of services to citizens."

The parliamentary Finance Committee had announced earlier in the day not completed its review of the budget and it is ready for the second reading and then vote for the endorsement.

And voice of the Iraqi parliament in its session, on the 7th of this month to postpone the second reading of the public budget for 2011.

Completed the Iraqi Council of Representatives in 16 of the last month, the first reading of the budget bill for the current year amid objections and reservations on some points from the project.

http://www.aknews.com/ar/aknews/4/219556/

Zain: You may resort to eliminate Iraq because of the fine

The chief executive of the company operations in Kuwait's Zain Telecom said on Sunday that his company could resort to spend because of the fine imposed on its operations in Iraq.

He said Barrak Al told a news conference on Sunday, "the company may resort to eliminate because of the fine in Iraq."

The Association of Media and Communications last week, the Iraqi imposed a fine of $ 262 million to Zain of Kuwait for violating the licensing agreement.

The authority said in a statement on its website, "came the imposition of this fine because of the use of Zain five million slice of fundamentalism without obtaining approvals from the Commission prior to use."

And imposed a fine on the Zain on 11 January, to be paid within three months from that date.

http://www.marsadiraq.com/observator...-11-44-14.html

Parliament's Committee of Finance: budget deficit in 2011 reached 15.5 billion U.S. dollars

Announced that the parliamentary Finance Committee, Sunday, that the current year budget in 2011 amounted to six and ninety-six hundred trillion Iraqi dinars and a deficit of fifteen billion five hundred million U.S. dollars.

The Chairman of the Committee Haider al-Abadi told a press conference held inside the parliament and attended by "Alsumaria News", "The budget of the Republic of Iraq for the current year 2011, amounted to (96 600) six and ninety-six hundred trillion Iraqi dinars, and a deficit of U.S. $ (15,500) fifteen thousand five hundred million U.S. $ ".

Abadi said has "been monitoring the amount of 4.5 trillion and half trillion Iraqi dinars for the ration card," adding that "the current year budget is better than its predecessors."

The House of Representatives approved the most votes of those present (240 deputies) in the thirty-sixth meeting at about half past seven in the evening on Sunday, the general federal budget for 2011 of $ 82.6 billion dollars after the Finance Committee presented its report on the law of the budget.

The Council of the Iraqi parliament, on Sunday, its the 36 headed by Osama Najafi and the presence of 263 deputies, and the session was devoted to the vote the draft law on the financial budget for the current year, and the first reading of the draft law on ratification of the Republic of Iraq to amend the Convention on the pipeline of crude oil agreement signed between Iraq and Turkey.

The House voted on the paragraphs of the budget, 47 paragraph, respectively, the most important reduction of the salaries of the three presidencies of 20%, and the postponement of reducing the salaries of members of parliament, ministers and vice-presidencies of the three pending receipt of a special law by the government within the current year budget of 2011, also voted for the abolition of social benefits for the three presidencies fully set forth in paragraph twenty-first from within the budget.

http://www.alsumarianews.com/ar/3/17...-details-.html

Nujaifi: the current year budget 2011 is a major achievement and in the interest of the citizen

The head of the Iraqi parliament on Sunday that the current year budget 2011 is a great achievement for the budgets of previous years, noting that it included the decisions made in the interest of the citizen.

Osama al-Najafi during a press conference held inside the parliament after the vote on the budget, and attended "Alsumaria News", "The current year budget of 2011, is a great achievement for the budgets of previous years."

The President of the Parliament that "the budget included the abolition of social benefits for the three presidencies, and increased capital expenditures at the expense of operating, as well as support for the ration card and support the provinces, and support the areas of education and agriculture," noting that "the House of Representatives had a role distinct in approving the budget in".

The Iraqi parliament voted on Sunday evening, the draft general budget for the year 2011 after more than two months of discussions.

http://www.alsumarianews.com/ar/1/17...-details-.html

Originally Posted by Seaview

Iraq plans oil, gas auctions in late 2011

Iraq aims to have another round of oil and gas licensing auctions during the fourth quarter of 2011, an Iraqi oil official said from Baghdad.

Iraq has had three rounds of oil and gas auctions since the U.S.-led invasion in 2003. It emerged from the last round in December 2009 with the confidence to say the country would one day rival Saudi Arabia in terms of oil production.

Increasing production at some of the fields, however, could mean overcoming some major technological hurdles in the war-torn country. Energy officials said oil production could reach 8 million barrels per day by 2018 if all goes as planned.

Energy officials in Baghdad said the central government has started procedures necessary to hold another round of oil and gas licensing auctions at the end of 2011, The Wall Street Journal reports.

Oil majors working in the county, like British energy company BP, Italy's Eni and Exxon Mobil, have contributed to a measured rise in production in the country already.

http://www.upi.com/Science_News/Reso...8891297856792/

Another Iraqi Oil and Gas Licensing Round Late 2011



Iraq aims to have another round of oil and gas licensing auctions during the fourth quarter of 2011, an Iraqi oil official said from Baghdad.

Iraq has had three rounds of oil and gas auctions since the U.S.-led invasion in 2003.

Increasing production at some of the fields, however, could mean overcoming some major technological hurdles in the war-torn country. Energy officials said oil production could reach 8 million barrels per day by 2018 if all goes as planned. Recent estimates by Shell put the figure somewhat lower.

Energy officials in Baghdad said the central government has started the process to hold another round of oil and gas licensing auctions at the end of 2011, The Wall Street Journal reports.

According to AFP, the fourth round will involve licences for 12 oil and gas exploration sites.

http://www.iraq-businessnews.com/201...und-late-2011/

Ministry of Planning: headline inflation for the month of January 2011 by 2 percent

Central Bureau of Statistics said inflation indicators for the month of January 2011 increased by 2% from the previous month and 5.8% for the month of January 2010, noting that the calculation of inflation for the month of January 2011 adopted the new pricing for electricity.

A statement from the Ministry of Planning has received Agency (Voices of Iraq) a copy of the "indicators of inflation indicators of inflation for the month of January 2011 increased by 2% from the previous month and 5.8% for the month of January 2010," explaining that "the calculation of inflation for the month of January 2011 relied on the Pricing for the new power in the case of the adoption of the old pricing of electricity, the monthly inflation of 0.7% and annual inflation of 4.5%."

The statement said that "the completed Central Bureau of Statistics inflation report for the month of January 2011 which was prepared on the basis of field data collection" on the prices of goods and services components of the consumer basket from a selected sample of outlets in all of Iraq's provinces have adopted the base year 2007."

http://radionawa.com/Ar/NewsDetailN....030&LinkID=155

Parliamentary Integrity Committee is seeking to overturn a legislative text that fortifies the corrupt

Revealed the Parliamentary Integrity Committee for a trend towards the abolition of laws that vaccinated staff accused of corruption against the judiciary.

A member of the High-Nassif that there was coordination between the work of the government and the Presidency of the parliament with the Integrity Commission for the accounting of spoilers in all state institutions.

Stressed Nassif on the existence of seeking large in its order to resolve all the corruption files through cooperation with the Integrity Commission and the Office of Financial Control, confirmed the existence of evidence against senior officials in the state of corruption, criticizing the role of the Presidency of the parliament earlier because it was just to favor the executive branch.

Nassif explained that there is unanimity in the Integrity Commission towards the elimination of paragraph b of Article 136 of the Code of Criminal Procedure, which is largely restricted to activate the files financial and administrative corruption
.
http://radionawa.com/ar/NewsDetailN....102&LinkID=151