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

A source at the World Bank's (morning): diversification of the Iraqi economy and the development of its private sector Imknanh of completion of projects

As Iraq seeks to develop a reality development has and work to revive the economic aspects of the task, according to an official source at the World Bank that the strategy the next to be implemented in Iraq include working to stimulate and accelerate the capacity to implement projects filial task such as water, electricity and improve the living conditions of citizens and the elimination of unemployment and create opportunities work for the unemployed, and activating the private sector and assistance to enable him to complete projects and accomplish the task ..

The head of the bank in the Middle East and Iraq, the Pacific Arab Speaking (morning) to diversify the economy of Iraq through support of projects and the private sector has become the most prominent aspires to achieve the World Bank in Iraq during the coming period, stressing that the Iraqi economy can not be for him to grow and develop through the provision fully on the sale of world oil, which called for an international strategy aimed at reviving a large number of aspects of productivity in the country to diversify its economy and enable it to rise and face many of the pitfalls suffered by the words of the Arab ..

He also said that the Arab Bank was working in earnest on the development of industrial and agricultural sectors and tourism in the country that the Bank is convinced that these sectors are able to meet many of the requirements of economic growth, particularly the elimination of unemployment and increasing fiscal revenue ..

And on the process of linking the Central Bank of the government directly and its impact on the Iraqi funds abroad, said the Arab could bring more coordination between the central and the rest of the bodies in the resolution in order to reach the best practical results, which is said by Arab that does not affect the Iraqi funds in the international banks, and between the Arab that the World Bank listened carefully to many views on the passport to link the central government of Iraq or not, adding that Iraqi law does not provide for control of funds and supervision of those institutions fully by the government but the states regulate the coordination among them, is a matter not affecting the work of the Central further finds Arab ..

He hinted that the Arab bodies, financial institutions and independent administrative in all countries should have to remain so, but the Arab stressed that the process of independence that does not prevent the creation of a coordination and integration, particularly in economic policy-making and social Felt ..

Arab also denied that the World Bank had previously pressed the Iraqi government to raise subsidies on some products or for ration, saying that the bank's efforts to the contrary comes from it. And said: "The International is now working actively to provide technical and logistical support to the Ministry of Commerce to strengthen the capacity of the ration card and delivery is seamless to the citizen ..

He expressed the Arab Bank is ready to provide various kinds of financial and economic support for Iraq, saying the bank is convinced of the possibilities and experiences of Iraq, which said it had a large and capable of promoting the country ..

The World Bank plans to conduct a survey of private sector companies in Iraq, in order to assess the business climate and investment through an interview with about a thousand companies operating in the sectors of industry and services.

The World Bank has contracted with an Iraqi company for the implementation of the survey for the period from this March to July next year, and companies will be selected at random to ensure the safety of the representativeness of the results across the country.

It is expected the emergence of the preliminary results of the survey in September to be the next light make recommendations to the Iraqi government to encourage investment and increase economic growth rates in Iraq.

The World Bank has provided the morning earlier in the platform of the future which will hopefully be implemented in Iraq, and the program is seeking to implement 26 projects investment and technical assistance for a total cost of 953.8 million dollars and include the development of governance and the private sector and financial reforms, banking and the provision of basic services such as education and health social protection and improvement of infrastructure such as energy and water ..

http://www.alsabaah.com/ArticleShow.aspx?ID=5025

Turkey central to major Baghdad development projects says provincial council
A spokesman for Baghdad provincial council's investment committee said on Tuesday that Turkish investment companies will play a leading role in a number of major state and private sector development projects in the Iraqi capital

The Turkish Prime Minister Recep Tayyip Erdogan arrived in Baghdad on Monday afternoon at the head of a delegation of ministers and businessmen, including the Turkish Foreign Minister Ahmet Davutoglu, State Minister Zafer Caglayan, and Minister of Energy and Natural Resources Taner Yildiz. Ali al-Attar told AKnews that representatives from both state-owned companies and the private sector in the Turkish delegation expressed their readiness to implement investment projects in Baghdad and across Iraq over the next five years. Attar said that the Turkish side had demonstrated their skills and competence in conducting major infrastructure and construction projects such as rail networks, road construction and the development of tourism.

"There will be frequent meetings between the two parties in the coming days to discuss the details of these projects," he said.

Attar explained that amendments to state legislation governing investment in Iraq had attracted many Turkish investors, referring in particular to the 7th paragraph of the investment law which outlines the government's pledge to "grant land to the investment companies".

One Turkish company already operational in Iraq is the sanitation firm Akdeniz which secured a $24 million domestic waste disposal contract with the Baghdad secretariat covering the al-Karkh and Rusafa districts of the capital. Iraq enjoys healthy economic ties with neighboring Turkey, with many trade agreements operative between the two countries. A total of 117 Turkish companies are currently implementing various investment projects in Iraq across a spectrum of sectors ranging from energy development to agriculture. An important 15-year contract was signed between the two countries in September last year for the shipping of Iraqi crude oil from Kirkuk's northern oil fields through the Turkish port of Ceyhan. As part of his iraqi visit, the Turkish Prime Minister is expected to arrive in Erbil, the capital of the semi-autonomous Iraqi Kurdistan region later today to meet the region's President Massoud Barzani.

Speaking last week, the head of the Kurdistan Region's Presidential office Fuad Hussein said the Turkish PM's expected visit to the semi-autonomous region highlights "Turkey's improved relations with Kurdistan."

Hussein said the Kurdish side will discuss with the Turkish delegation measures to buttress mutual cultural, economic, and political ties. The Turkish Consulate in Kurdistan Region announced in April 2010 that the rate of commercial exchange between Iraq and Turkey in 2009 stood at around $9 billion indicating the extent of Turkey's interest in its neighboring state.

http://www.zawya.com/story.cfm/sidZAWYA20110330062640

Iraq Says Last Obstacle to Shell Gas Deal Removed

The Iraqi Oil Ministry and Royal Dutch Shell PLC have removed the last obstacle preventing them from signing a long-awaited $12 billion joint-venture deal, a senior Iraqi oil official said Tuesday. The main dispute was over the rights of export. Shell, along with its partner Mitsubishi Corp. of Japan, wanted to handle exports, while under current Iraqi hydrocarbon laws the Iraqi State Oil Marketing Organization should do so.

"The issue is nearly resolved," Ali H. Khudhier, head of the state-run South Gas Co. said in an interview in his office in Zubair, south of Basra. "Shell wanted to handle exports, but now it is agreed that SOMO would handle export," he said. Shell, however, has asked for further discussions as it needs to install an export mechanism, he said.

Last week, the energy committee at the Iraqi Council of Ministers asked the Oil Ministry to review the Shell draft deal, which aims to capture and exploit millions of cubic feet a day of gas flared from four supergiant oil fields near Basra. The gas project is crucial to Baghdad's ambitious oil expansion, which will also boost much-needed power generation in Iraq.

"Once the energy committee approves the recent changes, we need to sit with Shell to adjust these changes in the draft contract," Mr. Khudhier said. He preferred not to give a specific date for signing the deal, but he said it could happen in a matter of weeks.

The joint venture—Basrah Gas Co., or BGC—will process associated gas produced from three supergiant Iraqi fields—Rumaila, West Qurna 1 and Zubair—all located in Basra. The three fields are being developed by international oil companies.

"We are expecting these three fields to produce up to three billion cubic feet a day in the coming six to seven years," Mr. Khudhier said.

In total, the three fields are currently producing some 1.05 billion cubic feet a day, but only 450 million cubic feet a day are utilized while the rest is flared, he said. The project is vital to Shell's strategy of positioning itself as a leading gas supplier and producer in the Middle East. After domestic needs are met, an LNG terminal will be built in the Gulf to handle the export of 600 million cubic feet a day.

"The extra gas will be exported to East Asia and Gulf states including Kuwait and the United Arab Emirates," Mr. Khudhier said.

He also said Iraq could revive a disused pipeline to export gas to Kuwait. "If the Kuwaitis want to import gas from us, we are ready to supply them," he said. Iraq used to export an average of 200 million cubic feet a day gas to neighboring Kuwait, but sales were suspended when Iraq invaded its neighbor in 1990. Iraq is home to 126 trillion cubic feet of gas, but produces only around 1.5 billion cubic feet a day, of which 700 million cubic feet a day are burned for lack of infrastructure.

http://online.wsj.com/article/SB1000...657484528.html

Etisalat Has Not Ruled Out Iraq Expansion

UAE telecom Etisalat has not ruled out expansion into Iraq after dropping its $12bn bid for a chunk of Kuwait’s Zain that would have given it access to the market, a senior executive said, according to a report from Arabian Business.

“We are looking at all opportunities,” said Ahmed Bin Ali, group senior vice president of corporate communications. “If we think it is worth it we are on the same speed of expansion whenever there is a chance to do so.”

Etisalat, which is majority-owned by the government, is pushing to expand its overseas operations to offset declining revenues in the UAE, where it no longer holds a monopoly.
A successful bid for 46 percent of Zain would have given Etisalat access to new markets including Jordan, Morocco and Iraq.

Iraq is planning to raise $2bn when it sells the country’s fourth mobile telecoms licence. Etisalat, alongside US-based Verizon Communications, South Africa’s MTN and Turkcell in Turkey, are rumoured to be interested in bidding.

Mobile penetration rates in Iraq top 70 percent. The country’s two largest operators, Zain and Asiacell, have more than 12 million and 8.13 million subscribers respectively.

http://www.iraq-businessnews.com/201...raq-expansion/

Legacy of Destruction

Years of war and suffering in Iraq have left a legacy of destruction which includes ancient monuments and broken cities. During my time there I pestered those that I knew to share both their stories and images of what once was. One doesn’t have to go far to discover a land of awe inspiring architectural feats, ingenuity and adventure.

However, this is not the place that I have seen from behind the compound walls or the thick glass of my vehicle. This is not the expanse of mud and wreckage I have seen on my travels but I know that it existed and have seen it proudly displayed in the gait of the people I have watched, and in the proud histories of those I have been honoured to meet and listen to. This is the essence of what draws me to Iraq, proud, resilient and beyond belief.

This is exactly the reason that Iraq should not seek to recreate the bland architecture endemic in modern cities but should be brave in seeking new architectural paths. History is not something that should hold us back but should rather be proudly incorporated into the future. History is a recognised commodity in Iraq and the Tourism Board are very actively pursuing growth in tourism as a key economic opportunity.

Although I realise that the thought of Iraq’s tourism potential is ludicrous to those that cannot see beyond the current security situation; Iraq is a cultural Mecca and that has always meant and will always mean tourism. The kind of tourism growth will very much depend on the future security situation and the preservation, development and tourism polices of the Iraqi government.

Basra known in the 17th century as the Venice of the Orient, rich in history and oil, once a cornerstone of Islamic civilisation is once again central to the re-emergence of Iraq. In December 2010 the Friends of the Basra Museum held a fundraising event in London. The first formal event in the plan to re-establish the Basra museum in a new location and a welcome one, after all any well thought out plan that recognises Basra’s place in history is a vitally important one.

Although most of us rarely consider that architecture, the physical environment, social cohesion and economic performance are intrinsically linked, they are. Buildings can represent success, dominance, cultural longevity or deprivation, neglect and failure. Successful cities offer a unique vibrancy and project a view of the city to the inhabitants and outside world alike.

Long term economic success (as opposed to a medium term oil rush) and cultural development in Basra rests not only on the development of the oil fields but on many other factors. In my recent article on infrastructure (Infrastructure Review) I discussed the need for the provision of basic services such as electricity, water and sewage treatment and healthcare, these are the fundamental building blocks for any successful participatory society. Diversification of the local economy, high standards in educational provision and cultural and leisure services are the type of attributes that are part of the intricate and complex fabric of successful cities and cultural tourist destinations.

The relationship between these factors is something that needs careful and co-ordinated consideration as Iraq slowly rebuilds its cities and towns. The heritage department, tourism and cultural department, the ministry of planning and the individual ministries involved in each project need to develop a constructive dialogue.

Whether Basra intends to reassert its standing as a destination regionally, nationally or internationally, its development of cultural and architectural assets will be key to this ambition. This project has huge potential but much thought still needs to be given to aspects other than the physical renovation of the building. The Museum could potentially be at the heart of Basra’s cultural renaissance and I am therefore delighted to see the continuation of British involvement in this potentially positive manner.

However, any cultural project in Iraq must consider local engagement and its contribution to sustainable economic development. Britain has wealth of knowledge in this field and as recent experiments have shown museums that fail to do this can easily end up as costly warehouses. Cultural projects are an essential part of recognising Iraq’s majestic history and preserving it for future generations, I hope that this project will play a key role in this process.

http://www.iraq-businessnews.com/201...destruction/2/

Approval of the draft law exemption of capital reserves

The Cabinet approved a bill to exempt the capital reserves of the hotel companies mixed sector auditor by the State Council, stressing submitted to Parliament, taking into account the opinion of the Legal Committee of the Secretariat of the Council, according to government spokesman Ali al-Dabbagh.

The present approval to meet the urgent need to develop the tourism sector and hotels, and keep up with tourism development and achieve the advancement of the sector, as well as improve the efficiency of performance and service in the mixed sector and encouraging the tourism sector to develop their facilities and exemption from income tax and a specific time frame according to the word al-Dabbagh.

http://ar.radionawa.com/Detail.aspx?id=1604&LinkID=197

Karbala signs a memorandum of understanding with the Irish company to explore for oil conservation

President signed the provincial council in Karbala, Mohammed al-Moussawi, on Monday, a memorandum of understanding with a European company for the exploration for oil in three oil fields.

Moussawi said to one of the agencies, it was the signing of a memorandum of understanding with the port of national representative for a company Sanlion Irish European to explore for oil in the province, adding that the note entitles the company the work of prospecting for oil in three oil fields is a field west of Ezekiel in the area table west east of Karbala , and the field of coral near the Lake Razzazah west of Karbala, and field joint rump with the governorate of Najaf.

He said these fields are not included in the licensing rounds third and fourth by the Oil Ministry, which did not attract the attention of the companies participating in licensing rounds as small fields, indicating that he expected to be the production of these fields are about 100 thousand barrels per day.

http://ar.radionawa.com/Detail.aspx?id=1559&LinkID=197

Approval of the draft law exemption of capital reserves

The Cabinet approved a bill to exempt the capital reserves of the hotel companies mixed sector auditor by the State Council, stressing submitted to Parliament, taking into account the opinion of the Legal Committee of the Secretariat of the Council, according to government spokesman Ali al-Dabbagh.

The present approval to meet the urgent need to develop the tourism sector and hotels, and keep up with tourism development and achieve the advancement of the sector, as well as improve the efficiency of performance and service in the mixed sector and encouraging the tourism sector to develop their facilities and exemption from income tax and a specific time frame according to the word al-Dabbagh.

http://ar.radionawa.com/Detail.aspx?id=1604&LinkID=197

Economic Commission of the Council of Ministers looking for several options on the ration card

Discussed in the Economic Commission meeting held under the chairmanship of Deputy Prime Minister Nuri Shaways, a new strategy to deal with the ration card.

A statement by the Information Office in the Ministry of Finance, "The Committee discussed a new strategy to deal with the ration card and the proper methods to provide the vocabulary or find an alternative that serves the citizen."

The statement added, "has been discussed in the meeting the possibility of transferring the ration card allocations.

To the provinces, and the possibility of finding cash in lieu of the card, and other options, including Serves the interests of citizens and provides its basic needs. "


http://www.radiodijla.com/cgi-bin/ne...?id=2011-03-30

Economists: raise zeros from the currency cost more than the desired benefit

Researchers at the University of Mustansiriya that the cost to raise zeros from the Iraqi currency for the time being greater than the benefit.

A source at the University of Radio Tigris, "The scientific symposium held by the School of Management and Economics at the University under the title of "lifting of the zeroes between acceptance and rejection "touched the zeros in the Iraqi currency in terms of concept, and discuss the opinion of the supporters and opponents of the process of lifting of the zeroes, as well as the conclusions of the".

The source pointed out "that the seminar included a discussion of economic policies and historical evidence, and ground relied upon by the process of lifting the zeros through the bedrock of the economy based on economic stability, and found that the cost of lifting the zeros from the currency cost more than their benefits Aqsadia at the present time."

http://www.radiodijla.com/cgi-bin/ne...?id=2011-03-30