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

DJ France Telecom, Agility To Buy 44% Stake In Iraq's Korek

France Telecom (FTE.FR) Monday said it has teamed up with Kuwait logistics company Agility (AGLTY.KW) to buy a 44% stake in Iraq's mobile telephone operator Korek Telecom as part of the French group's strategy to expand its presence in emerging markets.

France Telecom will pay $245 million, or about EUR175 million according to the company's own estimate, for a 20% indirect stake in Korek Telecom, the French company said in a statement on Monday.

Additionally, France Telecom will grant Korek Telecom a shareholder's four-year loan of $185 million, the statement said.

Agility will own a 24% indirect stake in Korek Telecom and will bring an undisclosed amount of convertible debt, $50 million in cash and a four-year shareholder's loan of $100 million.

Korek Telecom will use the proceeds to reduce its debt, pay for its license and to improve networks and service.

France Telecom and Agility will set up a joint venture to take over the stake in Korek. France Telecom will own 46% of the joint venture and Agility will own the remaining 54%.

The French company will have an option to boost its stake in Korek to 27% in 2014 and get an indirect majority in the Iraqi company. Agility will have the option to sell part of its stake to France Telecom.

The Iraqi market is attractive because of the low penetration rate of mobile telephones compared with other countries in the region, France Telecom said.

Korek Telecom is based in Erbil in Iraqi Kurdistan, and is one of the three national mobile telephone operator in Iraq. It has 3 million customers.

http://www.londonstockexchange.com/e...110314DN001070

Baghdad expresses its readiness to protect the investment companies in Korean in Iraq

Iraqi Ambassador in Seoul, Khalil al-Musawi on Baghdad's desire to provide security protection to all South Korean companies want to invest in the country.

According to a ministerial statement that the ambassador explained to the President of Parliament in South Korea, Park Hee-tae that the security environment in Iraq is now ripe for investment business and approximately 80% of cities in Iraq is witnessing stability, indicating that the investment law granting privileges to foreign investors.

For his part, Park Hee-tae's parliament prepared to cooperate and provide full support for the Iraqi government in the process of building Iraq, expressing his government's desire to expand relations and exchange of visits by officials at the parliament, government and contribute to the process of rebuilding and reconstruction.

http://radionawa.com/Ar/NewsDetailN....497&LinkID=155

Mahma Khalil: the government is required to give priority to pass a law reconstruction of infrastructure and service sectors

Student decision of the Economic Commission Mahma Khalil parliamentary government to give priority in approving a bill to rebuild the infrastructure and service sectors because of its importance in the construction of facilities and critical infrastructure.

Khalil said in a news conference in the House of Representatives and the presence of the independent press (Iba) project aims to renew the strategic projects and services and their implementation in all parts of Iraq because of its effect on the economic and social development to start the advancement of the current reality and the value of the project held $ 70 billion and the equivalent in Iraqi Dinar from the date of issuance of the law.

Khelil said that the economic and investment in the Iraqi parliament, working as promote reality of development and economic Iraqi, and the elimination of unemployment and job creation Alamlalma that this project was voted on more than nine items than in the previous parliamentary session and postponed for political reasons, and near the elections and that the implementation of the draft law is through the payment term Awacharakp between public and private sectors Awativ direct.

And that Jnthtry that the time has become relevant after the scarcity and lack of financial allocations to divide the investment in the budget, in particular, and the project Anhma Siikunlh effect in economic and social development of the country and the advancement of reality service.

http://www.ipairaq.com/index.php?nam...onomy&id=36412

Repairs in damaged oil pipeline completed

Iraq’s Oil Ministry has completed repairs in the damaged oil pipeline carrying crude from north Iraq’s Kirkuk fields through Turkey, and pumping resumed after mid Monday night, Oil Ministry’s official spokesman said.

“The Oil Ministry has completed repairs in the damaged Iraqi-Turkish oil pipeline, exporting crude oil to the Turkish Ceyhan Terminal on the Mediterranean, that was damaged in a corrupt act in northern Iraq’s al-Hadhar area, which hampered oil exports,” Assem Jihad told Aswat al-Iraq news agency on Tuesday.

Jihad said the repairs have covered the replacement of part of the pipeline that was seriously damaged due to the blast, as well as closing leaks on some parts of the pipeline.

“Operations to fill in the pipeline began at 12.30 a.m. local time on dawn Tuesday, whilst full pumping resumed with a capacity of 500,000 barrels per day (bpd), in order to cover the shortage caused by the halt of pumping over the past few days, in order to fill the storage tanks in the Turkish Ceyhan Terminal and prepare them for exporting oil through the Mediterranean terminals.

http://en.aswataliraq.info/Default1....&id=141467&l=1

House of Representatives today discusses draft law on the Ahdab oil field

Discusses the House of Representatives in its 43 today and in the presence of 252 of its members the draft law on Ahdab oil field.

A source in the information department of the Council, told the independent press (Iba) The Commission on oil and gas today you will read the second reading of the bill abolishing the contract ratification and the development and production of the Ahdab oil field.

He added the Commission itself as you will read the second reading of illegally law on ratification of the Republic of Iraq to amend the Convention on the crude oil pipeline, signed on 27 of August of 1973 between the Republic of Iraq and the Republic of Turkey.

The source noted that the platform will include the day of the Council is also the second reading of draft law on the Supreme Judicial Council by the Legal Committee in addition to the first reading of the proposed law Mufthien public by the Integrity Committee.

http://www.ipairaq.com/index.php?nam...onomy&id=36391

Experts discuss the economic reforms in the light of popular demands

A cultural center in downtown Baghdad, oil and sponsored by the term cultural Monday, a symposium with the slogan "economic reforms in the light of popular demands," the presence of a number of experts in the economic sphere.

He said Maytham defect, a specialist in economic affairs during the conference that there is a problem the government has decided to bring down many of the loans of farmers in the area of ​​communication and customs tariffs that linger government implementation of the resolution, and thus the government missed the opportunity to take advantage of the positive outputs of Finance, adding that the government should be able during the short period increase production and reduce unemployment, but there are doubts about it, he said.

http://radionawa.com/Ar/NewsDetailN....483&LinkID=155

American company vouching power plant operating in the oil-black Karbala

According to Chairman of the city of Karbala that a delegation representing an American company expressed its readiness to implement a power plant capacity of 300 megawatts in the province in a manner of investment for 10 years and the training of Iraqi cadres and operation of the unemployed.

He said Muhammad Hamid al-Moussawi told a news briefing, "Delegation of the Company USPS American specialized implementation of electrical projects readiness to implement the project plant production of electrical energy working on the black oil," adding that "the delegation pointed out that this plant produces 300 MW and connects with the electrical system in Iraq."

He said al-Moussawi said the delegation of the American company "will be implemented in a way that investment for 10 years and get the police to the proportion of 10% for each year," adding that "the delegation said that he will run the station and the training of Iraqi cadres and the rehabilitation and development for delivery at the end of the work."

The Chairman of the Board of Karbala that the U.S. company "expressed willingness to monitor the 7% of its imports to help poor families and orphans in the province as expressed willingness to run the Iraqi cadres, especially the unemployed in the project, which will be implemented during the year and a half if it is approved."

http://non14.net/display.php?id=13231

A source at the North Oil Company said: The reform of export pipeline to Turkey

According to the source of Iraqi oil on Sunday that the technicians and engineers in the North Oil Company in Kirkuk have completed the operations of replacement and repair of a pipeline to export crude oil to the Turkish port of Ceyhan, which had been subjected to an act of sabotage last Wednesday, an improvised explosive device in the area between the towns of Salahuddin and Mosul, north of Baghdad.

Imad al-Baqir official production department in the company in a press statement: "The completion of the replacement of the damaged part with a length of eight meters and a 46-node in the region of 185 kilo capacity of engineers and technicians in the company."

"The pumping test has not yet started because of repair work in the path of the pipeline in the region of 265 km near the city of Dohuk by exposure to eat, where will replace the injured part and this will not take the time only one day."

He said: "There are no problems in production processes, pumping and we have stocks we can re-pumping operations and the resumption of the export operations are normal after the completion of all repairs." "AP"

http://www.markazaliraq.net/?state=news&viewId=6470

Minister of Communications: Fourth mobile license may bring two billion dollars

Revealed that the Iraqi Minister of Communications is expected to achieve the fourth license for a mobile phone in the country between one billion and two billion dollars through an auction possible at the end of this year.

"Said Mohamed Allawi," who took office in December: "The expected cost of the license including the cost of facilities and infrastructure may range between one billion and two billion dollars", correcting a previous statement made on Wednesday.

He estimated "Allawi," told Reuters Monday licensing fees and construction together with between one billion and two billion dollars.

And on Wednesday, through the "Allawi," the hope of his country in the fourth put a license by the end of this year, you get a company that manages the network, while 40 percent get the Ministry of Communications on 25 percent and put 35 percent of the public.

http://www.markazaliraq.net/?state=news&viewId=6471

Shaways meet the U.S. ambassador and discusses the prospects for the exchange of experiences

Met with Iraqi Deputy Prime Minister example, has typically Nuri Shaways, the U.S. ambassador to Iraq, James Jeffrey and his accompanying delegation, today, and during the meeting, they discussed the prospects for strengthening relations and economic cooperation, cultural and political between the two countries through exchange of experiences of human, technical and technological development.

A statement issued by the Office of Shaways sent a copy of it told the future, "and with" the Deputy Prime Minister reiterated the "Iraq's desire to establish good relations and balanced in all areas with the countries of the region and the world, especially the United States."

The statement quoted the U.S. ambassador as saying that "The United States is committed to providing technical support and assistance in the development experiences of Iraq and the openness of the Iraqi economy to the global market," noting that his government "looks forward to the speed of complete range Iraqi government," adding that "the presence of a strong government and effective will contribute active in the development and strengthening of relations between the two countries in various fields".

http://www.mustakbal.net/ArticleShow.aspx?ID=4727