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

Iraqi MP: oil and gas law will be presented to the House of Representatives within two weeks

A deputy in the Iraqi Council of Representatives on Saturday that oil and gas law will be presented to the Council during the next couple of weeks after the end of minor amendments to it. A member of the Commission on oil and gas Furat al-Shara told the Kurdish news agency (Rn) that "oil and gas law will be presented to the House of Representatives during the next couple of weeks after the adjustments are related to some important paragraphs in the secondary law."

Shara noted that "the Committee hosted the Deputy Prime Minister for Energy, Hussain al-Shahristani and elaborated discussion with him regarding the problems that may face the formula law of oil and gas sent by the government."

The Commission on oil and energy parliamentary earlier that the law of oil and gas requires a political consensus between the blocks before they are discussed within the Commission, stating that the law may be voted on during the ten days provided that the political agreement. He said al-Shara that "the oil and gas will host the Deputy Prime Minister for the power again and his oil minister, Abdul Karim and coffee to put the finishing touches on the law of oil and gas and pass it as soon as possible."

And demands that economists need to enter the Iraqi Council of Representatives an amendment to paragraph 18 of the oil and gas law relating to the establishment of the Federal service and the voting for the organization of the oil wealth in the country, in order to limit the function of the Federal service to supervise the mechanism of action of the oil ministry and its affiliated bodies.

Shara added that "the law of oil and gas will contribute to raising the level of Iraq's production of crude oil as will many of the problems highlighted the problem of the region with the federal government with respect to the mechanism of export."

In the opinion of a number of experts involved in studies of oil that Iraq lacked until now to the political oil and clear-cut, which was a reason to delay the development of its oil wealth.

And announced that the Iraqi Oil Ministry in September last year that crude oil inventories in the country was 505 billion barrels of discovered fields that $ 66 oil fields, with total recoverable reserves of 143 billion barrels of oil. And make Iraq last year, three rounds of licenses for oil investment oil stock resulted in the victory of international companies from several nationalities. Plans to increase Iraq's oil exports during the next six years to 12 million barrels per day after obtaining the approval of the world's oil, "OPEC".

http://www.aknews.com/ar/aknews/2/221233/

CBI: The average per capita income will reach in 2016 to 9 thousand dollars

The Central Bank of Iraq adviser said on Sunday that Iraq's per capita income will reach 2016 to 9000 U.S. dollars.

He said the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "the average per capita income of Iraq would, according to the development plan adopted by the State after six years to 9 thousand dollars, after contributing to economic development activities in the lift according to the plan drawn up by the government."

Iraq was passed in 2009 the establishment of a supreme committee to combat poverty, holds the fee policy of seeking to alleviate the growing phenomenon in the country. The UN reports have indicated that more than 7 million Iraqis are living below the poverty line in the country, despite the increased size of Iraq's oil exports to 2.5 million barrels a day.

Saleh added that "the average per capita income of Iraq at the present time up to 4400 dollars," stressing that "Iraq needs to invest capital to be able to cope with problems that hinder the economic cooperation in the country."

Defined economic development as a mechanism include achieving a high growth rate of real per capita income over an extended period of time on a regular basis, and is important in increasing real income, and thus improve the lives of citizens and the provision of goods and reduce economic disparities among social circles, as well as providing employment opportunities for the members of society and the provision of food security.

The benefit that the "promotion of development will raise the production capacity and the active center of the high income of the Iraqi individual, and will enhance the ability of GDP and does the purchasing power in the market economy."

The Central Bank of Iraq said on Saturday that the formation of the Council of the Federal service will contribute to stimulating economic development as well as that it will hold the Iraqi market. The Iraqi provinces have witnessed several acts of violence coincided with the launch of the popular demonstrations to demand jobs and employment opportunities and improve the standard of living of the Iraqi people.

http://www.aknews.com/ar/aknews/2/221384/

Of the oil and gas representative: licensing rounds three decades is not bound for Iraq

A member of the Oil and Gas Committee on Sunday, that the Committee intends to review the contracts of licensing rounds, the three entered into by the previous government, indicating that it is not bound for Iraq in case the Commission considered economic damage where and you will be prompted to change them.

He said Furat al-Shara told the Kurdish news agency (Rn) that "the oil and gas committee intends to review the contracts of the three licensing rounds in a scientific and more seriously in order to know how useful to be reaped by those contracts to a political oil in the country."

The Islam that the "contracts of licensing rounds will be adjusted in case the view of the oil and gas there is a need to modify because they are binding non-degree impact on the economic reality in the country and non-binding if the Commission feels that there are negative damage to the three licensing contracts."

And announced to the Commission on oil and gas parliamentary earlier, for the oil and gas law will be presented to the House of Representatives during the next two weeks after the expiry of minor amendments to it. Shara added that "the Committee asked the Deputy Prime Minister Hussein al-Shahristani, a detailed report on the usefulness of Iraq's economic hold over the three licensing rounds and the extent of the impact on the national oil companies."

He said al-Shara said that "there are revisions to the decision to invest in the field as well as the humpback's decision to renew the contract to deal with Turkey to transport crude oil via Ceyhan oil pipeline."

He called economists earlier in the House of Representatives need to enter the Council an amendment to paragraph 18 of the oil and gas law relating to the establishment of the Federal service and the voting for the organization of the oil wealth in the country, and limited function of the Federal service to supervise the mechanism of action of the oil ministry and its affiliated bodies.

Shara noted that "the Committee will also examine all reports and ask the House to take the necessary and correct such errors committed in the session previous government."

And the failure of the House of Representatives to pass Bdorth previous oil and gas law, which was expected to rise if approved oil situation. In the opinion of a number of experts involved in studies of oil that Iraq lacked until now to the political oil and clear-cut, which was a reason to delay the development of its oil wealth.

http://www.aknews.com/ar/aknews/2/221398/

Trade announces the end of the crisis, the lack of the ration card items

Said General Manager of the General Company for Foodstuff Trading Saad Fares on Sunday, from the end of shortage crisis in the distribution of the ration card items in all the provinces.

"Faris told the Kurdish news agency, said that the severe crisis suffered by the company ended after the arrival of sufficient quantities for the distribution of the ration card items and for a full month.

He pointed out that the Ministry of Commerce agreed with the General Secretariat of the Presidency of the Council of Ministers on the need to lift the legal obstacles that hinder the acceleration of contract with the global food processing companies.

http://radionawa.com/Ar/NewsDetailN....819&LinkID=155

Compensation for Rational Card to be paid this week, Trade Minister says

Iraq's Trade Minister said on Sunday that the compensation funds for the Rational Card, adopted by the Council of Ministers in an earlier date, would be paid for all citizens this week, through coordination with the Governors.

"The compensation funds for the articles of the Rational Card, adopted by the Council of Ministers in an earlier date, shall be distributed this week, through special committees formed for this purpose," Minister Kheirullah Babakr said in a statement, received by Aswat al-Iraq news agency.

The statement pointed out that the Trade Ministry "had coordinated with the Finance Ministry to transfer the said funds to different provinces, in order to distribute them through speciall committees formed by the Governors," adding that the Trade Ministry "shall prepare all articles of the Rational Card among all strores in the country, through quick contracts, aimed at ensuring the arrival of their full articles and the insurance of the food security for citizens."

Noteworthy is that the Iraqi Council of Ministers had allocated on 6/2/2011 a fund of 500 billion (b) dinars (US$ equals 1,180 dinars approx), in order to distribute them on citizens, to compensate them for the shortage of the Rational Card's items, with an average of 15,000 dinars for each citizen.

The Rational Card in Iraq, issued according to the UN Oil-for-Food Resolution, comprises basic food products, including wheat flour, rice, cooking oil, sugar, tea, beans and other items on all Iraqi citizens.

http://en.aswataliraq.info/Default1....&id=141209&l=1

Expert confirms the creation of sovereign wealth fund in Iraq

Expect an economist to pour the process of rising oil prices, global interest of supporting the budget and some strategic projects in Iraq, especially that built its budget on the basis of the general default price of oil was 76.5 dollars a barrel.

He said the appearance of Mohammed Saleh al-Sabah newspaper, said the financial planning to build Moznat of the country does not depend mainly on the price shocks that Iraq could use these increases in oil prices and the surface of Finance to issue a sovereign wealth fund, which stressed that the Fund is able to provide extra resources can then by proper planning and support of many of the vital facilities in the general budget Kalptaqp ration.

http://radionawa.com/Ar/NewsDetailN....781&LinkID=155

Baghdad and Beijing agree to develop economic cooperation

Agreed Baghdad and Beijing to develop economic and trade cooperation during the next term. This came during a meeting with President Jalal Talabani at the Peace Palace in Baghdad yesterday, a Chinese government delegation headed by Deputy Foreign Minister, Jay Jones, who conveyed the greetings of Chinese President Hu Jintao and congratulations to the President on his re-election as President of the Republic . At the outset of the meeting through the President welcomed the delegation, praising the level of development and the ongoing cooperation between the two countries in all fields. As President Talabani expressed his thanks for China's support for Iraq in international forums, especially with regard to lifting of international sanctions that were imposed on Iraq after Saddam's invasion of the State of Kuwait, also noted the positive state-friendly towards Arab issues, particularly the Palestinian issue, adding that relations between Iraq in particular and the whole of the Arab countries and China by the second relationship is in constant evolution.

President of the Republic said, according to a presidential statement received »Sabah» copy of it, this is what encourages the enhanced cooperation and evolve to serve the common goals of cooperation between the peoples on the basis of independence and non-interference in internal affairs, so as to promote durable peace in the world. For his part, said Deputy Chinese Foreign Minister: «We have no doubt that we have in the Peace Palace, a dear friend is keen to develop relations between the two countries», referring to the importance of the visit of the President to China in 2007. He also commended Jay John on the political development of the country has experienced and which culminated in the formation of a government of national partnership and strengthen the efforts of reconciliation and reconstruction process, saying «that these developments are important in the path of the ongoing political process in Iraq, which is what makes us happy and wishful thinking that Iraq is investigating other achievements are the largest and greatest ». The Deputy Minister of Foreign Affairs of China China seeks to promote the work of Chinese companies in projects in the oil and electricity, construction and reconstruction under way in Iraq, with further training of personnel of Iraq in the various disciplines and increase scholarships for Iraqis. In the meantime, met Prime Minister Nuri al-Maliki in his official office Wednesday, Deputy Foreign Minister of China. During the meeting, they discussed development of bilateral relations and expand cooperation between the two countries in all areas, where Al-Maliki said Iraq is a democratic country and its political system stable, and looking forward to developing its economy and move the process of construction and reconstruction assistance of his friends, and to cooperate in the areas of energy development electricity, industry and trade, education and training.

The Prime Minister thanked the Chinese government for its supportive stance to Iraq in the debt issue and its participation in the process of reconstruction and training Iraqi cadres, reiterated the call for Chinese companies to invest and work in Iraq.

For his part, Deputy Foreign Minister of China, said his country is determined to increase cooperation with Iraq in the areas of economic, industrial, commercial, and meet the needs of Iraq in the fields of energy, training, and support the attendance of Chinese enterprises and their participation in the process of construction and reconstruction, pointing to the high index of trade exchange between the two countries achieve significant progress in this area.

Chinese official announced his country's readiness to open consulates in a number of Iraqi provinces to increase and facilitate cooperation between the two countries and peoples.

As a research and Foreign Minister Hoshyar Zebari and Vice Minister of Foreign Affairs of China responsible for the affairs of West Asia and Africa to strengthen bilateral relations.

And to examine the two sides Iraqi relations - China's growing in many fields, and cooperation and support of the People's Republic of the positions of Iraq in international forums, where official praised China's successful diplomatic prowess of the Iraqi government in question out of the provisions of Chapter VII and to return Iraq to play its full role in the world.

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Efforts to activate the movement of investment in Baghdad

First Deputy Governor of Baghdad, Dr. Muhammad al-Shammari said the investment, whether in Baghdad or Iraq will pan across a lot of problems afflicting the country at this time.

Al-Shammari said in a press statement: "The investment will solve a lot of problems and crises afflicting the country at this time such as housing and unemployment through providing job opportunities could accommodate a large and growing unemployment, widening within the province.

He said the investment would also improve the economic situation and living standards of the Iraqi families, including a positive effect on the overall political and security situation inside the country.

The Secretary-General of the Council of Ministers on the Keywords you may search by term with a number of specialized controls and instructions relating to the mechanism of allocation of land for the purpose of investment prior to submission to the Council of Ministers.

Keywords and studied with the President of the National Investment Commission and the secretary of Sami al-Araji Baghdad, Sabir al-Issawi, as well as the President and members of the National Business Council resolutions and mechanisms that will be followed in the field of investment.

And the government's desire to attract all the companies and investors for the purpose of contributing to the rebuilding and reconstruction, and to emphasize that any legislation and regulations on investment should reflect the philosophy of the state and the current investment environment and constraints.

He said that private sector involvement in this process is among the ideas put forward by the government. Keywords and stressed the need to facilitate and simplify procedures, including a competitive environment to attract investment for the purpose of revitalization of the national economy, adding that the investment process will develop as a priority the establishment of a major housing projects to meet the housing needs of citizens, especially those on low income.

The Secretary-General of the Council of Ministers the need to create economic partnerships between Iraq and the large companies wishing to invest in various sectors according to a clear strategy, stressing that the Iraqi market is a promising market and Iraq a fertile environment for investment

http://www.alsabaah.com/ArticleShow.aspx?ID=3255

Baghdad, Madrid discuss bilateral trade and investment

Minister of Industry and Minerals Ahmed Nasser Dali, with the Spanish ambassador in Baghdad, bilateral relations and ways Tazizaltaon industrial cooperation between the two countries, according to a ministerial statement issued on Saturday.

The statement quoted the minister as his willingness to provide all the means and facilities necessary to enter the Spanish companies into the Iraqi market and investment. The statement added that the Spanish ambassador from his part expressed his country's desire to enter into the Iraqi market and investment, particularly since Spain has great experience in the investment area, are classified within the 10 countries the world's major investment in sixth place in the development of infrastructure, noting that Spain distinct in many industrial fields and has a major industrial companies.

http://radionawa.com/Ar/NewsDetailN....779&LinkID=155

Council Basra Radio Tigris: the oil companies will provide 25 thousand jobs over the next four years

The chairman of the Commission on oil and gas in the Basra Governorate Council Farid Khalid, said the availability of oil companies in the province about 25 thousand jobs over the next four years.

Fried said in a statement to Radio Tigris on Sunday, "is expected to provide oil companies in Basra are at least 25 thousand jobs in the next four years, which will have to improve the economic situation in the province."

http://www.radiodijla.com/cgi-bin/ne...?id=2011-02-27