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

Lifting of restrictions on private banks and government do to develop its industry

Student assembly Iraqi President Abd al-Hasan al-Shammari to lift restrictions on government and private banks for their role in real leadership and development of the private industrial sector.

Al Shammari's (morning) Monday that the current stage requires us to encourage capital to enter Iraq, stressing the importance of the establishment of insurance companies and reinsurance to guarantee loans granted in the private industrial sector for both machines or construction or purchase of raw materials, because the investment operations sometimes exposed to loss rates degrees, and pointed to the importance of insurance companies to cancel part of the losses of banks and thus make a profit will be certain to run the capital as well as banking and insurance companies, and this leads to activation of the import.

http://ar.radionawa.com/Detail.aspx?id=3354&LinkID=197

Senior Economist warns: the growth rate in Iraq (1%) and GDP (3%)

Revealed an economist peace Sumaisem that the rate of growth in Iraq (1%) and GDP (3%), warning of the magnitude of this economic loss.

The Sumaisem in a statement (of the Agency by news) Friday should be aware of the seriousness of the size of this great loss suffered by the economy and the deterioration in the use of its resources, where the rate of growth (1%) and the rate of GDP (3%) in addition to the lack of Iraq's possession of production bases in terms of local communities.

She Sumaisem We are with the growing use of oil to prove the rule that says that Iraq is oil country, where its budget is based on (97%) of oil and this confirms what we Antmlk is one activity and the rest of the semi-parked.


http://ar.radionawa.com/Detail.aspx?id=3122&LinkID=197

Central Bank Consultant: We seek to find an appropriate mechanism to guarantee that the protection of our money from any prosecution

An advisor of the Iraqi Central Bank, Dr. Mohammed Saleh, said that the appearance of the Iraqi economy has passed through a difficult period during the nineties.

Saleh said in a statement to the reporter We have come a long way in restoring the prestige of the Iraqi currency and stimulate the economy in general.

He noted that Iraq's money was administered since 1990 by the United Nations oil-for-note according to the Food and Drug Administration.

He pointed out after 2003 was the formation of the Development Fund for Iraq, which act by the Iraqi government under the direct supervision of the United Nations in accordance with Resolution No. 1956, indicating will supervise directly from the Iraqi side in the coming period, stressing that he will raise the international protection of Iraq's money that would make him face some of the prosecutions of international presence some reservations on it. He said he hoped to find a special mechanism to protect the funds from any legal prosecution.

http://al-iraqnews.info/new/economic-news/57542.html

Oil Expert: exit Americans will create chaos lead to high oil prices

Expected economic expert Halim Kazem high oil prices as a result of the chaos that will occur after the departure of U.S. troops from Iraq.

Kazim said in a statement (of the Agency news) said on Sunday that the withdrawal of U.S. troops from Iraq would make the situation unstable and increase the political chaos, which is reflected on oil production in the first division, causing an imbalance in the quantity exported by Iraq and that up to (2) million barrels per day.

Kadhim said that the internal affairs of a fragile that out U.S. troops would lead to chaos and breakdown in the internal situation, which affects primarily the oil production and thus may lead to a lack of control of Iraq to export 2 million barrels of oil, noting that stops the production of oil means the loss of global market (2) million barrels per day and this will work on an imbalance in supply and demand.

http://ar.radionawa.com/Detail.aspx?id=3253&LinkID=197

Kuwait Airways to seek Iraq oil assets in theft row

State-backed Kuwait Airways will attempt to seize Iraqi oil assets in compensation for aircraft and equipment allegedly stolen during the first Gulf war, a lawyer for the firm said. Christopher Gooding said the airline will seek to enforce a 2006 English Supreme Court ruling against Iraqi Airways when international legal protection of Iraqi oil assets expires on June 30.

“From the First of July, it’s open season,” he told Iraqoilreport.com. “We can enforce against any assets, including oil tankers and oil assets.”

Kuwait airlines claims the rival carrier stole $1.2bn worth of equipment during the 1990 war, including 10 commercial aircraft and aviation parts, the report said. The United Nations mandate, which expires June 30, aimed to protect Iraq’s oil and financial assets from billions of dollars in claims stemming back to the rule of Saddam Hussein. Kuwait Airways has pursued its claims against Iraq Airways in British and Canadian courts. In 2008, the national Kuwaiti carrier won a case in a British court against Iraq and was awarded the equivalent of $84m. In October last year, a ruling by the Supreme Court of Canada opened the door to allow Kuwait Airways to seize new planes being built by Bombardier Aerospace for Iraq Airways.

Bombardier became involved in the dispute after Iraq awarded the Montreal manufacturer two contracts for 10 CRJ-900 regional jets, worth about $400m.

http://www.arabianbusiness.com/kuwai...ow-394178.html

Iraq opens doors for Kuwaiti investors

Basra - The head of Basra Investment Commission said on Sunday that his board is serious in seeking to develop economic and trade relations between Iraq and Kuwait through investment.

Haidar al-Ali Fadel told ِAKnews that Basra Investment Commission seeks to ensure the support of the Kuwaiti investor in an attempt to correct the mistakes of the past of two countries that share neighborhood, history, traditions and common destiny.

"Support is through granting the Kuwaiti investor the necessary legal guarantees in accordance with the law of the foreign investor as well as government guarantees for the Kuwaiti investment projects held in Iraq."

"Kuwaiti investor support will also be through the Iraqi investment law that gives tax exemption for ten years on all types of taxes, in addition to customs exemption for each material used in the investment projects."

"The Kuwaitis have about the 1000 real estate in Basra, that was being exploited and invested by Kuwaitis before the invasion of Kuwait by the former regime."

There are serious attempts to return Kuwaiti property in Basra to its rightful owners, especially Basra province that has a list of names and places of real estate in Kuwait.

Iraqi specialists believe that Kuwait had confiscated 86 farms, located in ​​Safwan area and included it to Abdali area of ​​Kuwait in 1994; farmers who have lost their farms did not get any compensation so far.

http://www.zawya.com/story.cfm/sidZA...aiti_investors

Foreign Relations: Ambassador of Japan, the agency emphasizes the investment loan of his country to Iraq

A member of the Senate Foreign Relations Committee of Representatives, Monday, on a visit to an acting Japanese ambassador in Baghdad to the House of Representatives to ensure the investment of the Japanese loan provided to Iraq, pointing out that the Council will have before it the subject of the Japanese loan for a vote and the mechanism of exchange and resources in the coming days.

Said Rep. Adela Hammoud told the Kurdish news agency (Rn) that "its Committee held today a meeting at its headquarters in the House of Representatives with the Charge d'Affaires of Japan Katsuhiko Takashi, who served as ambassador to Japan by proxy and discussed with him ways to develop and support the Japanese loan provided to Iraq."

She added that "the Committee stressed the Japanese ambassador to the need to invest the Japanese loan provided to Iraq in the field of investment and private sector support, as well as the importance of finding mechanisms for communication between the Foreign Relations Committee in the House of Representatives and the Japanese Embassy to present what serves the two countries and to achieve their interests."

She drew Hammoud said that "the House of Representatives will introduce the subject of the Japanese loan for a vote and the mechanism of exchange and resources in the coming days," as saying.

The Organization (JICA), Japanese government has allocated in 2003, a cooperative organization interested in helping countries in need, the amount of $ 3.5 billion in financial assistance to take most of the form of loans for reconstruction in Iraq, and Iraq had already using some of the loans in the development of infrastructure and plans for more projects, which included new projects financed by the loan sectors of health, oil, tourism, electricity, water and transportation.

He said government spokesman Ali al-Dabbagh in a timely manner that "the Council of Ministers, agreed to invest the loan amount in the areas of giving impetus to the continued advancement of the various sectors of the Iraqi state vital that her prejudice to direct the lives of citizens and improve services," adding that "the Japanese loan is a formula Special international cooperation with Iraq, through the help it fulfill the important projects for the Iraqis. "

http://www.aknews.com/ar/aknews/2/232998/

Ministry of Oil announces near completion of the floating port for the export of oil in Basra

The Oil Ministry announced progress in the construction of the floating port to export oil in the province of Basra, especially after the contract with the company to extend the pipeline network in the Iraqi territorial waters.

The director of the Southern Oil Company Zia al-Moussawi stating that the two ferries Tqoman digging a trench in the project of the port float, and the percentage of achievement 70%, confirming receipt of the necessary pipe from Italy, pointing out that the work includes the removal of mines and see the bottom of the sea and other things, contracts have been signed on with a company Foster Wheeler of the British authorities.
Al-Moussawi said that the project will be completed by the end of this year as planned, noting that their ambition is to complete the fourth buoy in order to build a fifth buoy to benefit from the Japanese loan.

http://ar.radionawa.com/Detail.aspx?id=6315&LinkID=197

Resistance will force American occupation forces out of Iraq, MP says

BAGHDAD: The Chairman of the Iraqi Parliament's Civil Society Institutions Committee and al-Ahrar (Liberals) Legislature, Muhsin al-Tamimi, has said that "the Iraqi resistance, in all its forms, will be able to force the occupation forces out of the Iraqi territories," according to a statement by his office on Sunday.

http://www.zawya.com/story.cfm/sidZA...f_Iraq_MP_says

18th May 2011

Iraq Needs More Statesmen and Fewer Politicians

We reported last week on the withdrawal of the Kazakhstan-based KazMunaiGas from negotiations on the Akkas gas field in Anbar province.

This week the head of KMG, Askar Balzhanov, shed more light on the background to the company’s decision, and it reflects very poorly on the Iraqi authorities:

“One of the reasons for our withdrawal from the Akkas project in Iraq is that the local authority, where the field is located, and the central government of Iraq had different points of view on the project. And this disagreement caused our withdrawal.“

While the nature of the internal wrangling has long been known, it is significant that a major international company has chosen to make public the fact that political bickering is costing the country and its people money.

It can be argued that politicians at the parliamentary level have put their differences aside in the national interest in order to form a government, but it is also undeniable that the result is a bloated cabinet that took far longer to put together than anyone thought reasonable.

One economist estimates that nearly $500 billion has been lost over the past eight years in the oil sector alone, due to poor public sector administration standing in the way of progress.

It’s clear that Iraq needs more statesmen and fewer politicians.

http://www.iraq-businessnews.com/201...r-politicians/