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

21st May 2011

Relative security lures foreign firms to once ‘too dangerous’ Iraq

Local newspapers carry daily reports on foreign firms striking new contracts with Iraqi ministries and provincial authorities. Relative security and massive oil revenues have persuaded many firms that the risks involved in working in Iraq are worthwhile. Iraqi oil exports now have passed 2 million barrels a day at a time oil prices on international markets have been soaring due to instability in other oil-producing countries such as Libya.

Baghdad residents enjoy a relative degree of quiet they had lost in the years since the 2003-U.S. invasion.

Several foreign firms have started developing gigantic oil fields in the south and others are involved in reconstruction, mainly in the country’s rickety power sector.

With Iraqi provinces having more power on how to spend their allocations and with oil-producing provinces earning one dollar for each barrel of oil they churn out, many foreign firms are bypassing the central government and striking deals directly with provincial officials. Some provinces are more stable and secure than others and foreign firms willing to work in Iraq and reap the benefit have that factor in mind. There is more competition for contracts in southern provinces like Najaf, Karbala, Wasit, Muthana and even Basra than Kirkuk, Nineveh, Anbar or Diyala.

Karbala this week signed a contract with the Swedish Scania for the import of 600 tourist buses. The Koreans have signed deals for the construction of four power plants each with a capacity of 130 megawatts. Firms from the United Arab Emirates are heavily involved in reconstruction. This month, a U.A.E. firm, Dubai Holding, said it was interested in investing $30 billion to construct a modern city in Karbala.

Swiss, U.S. and Brazilian firms are working on developing oil fields and digging new oil wells across the country. In Wassit, where the Chinese are developing a new oil field with a capacity of 120,000 barrels a day, the provincial officials are keen to put an end to electricity shortages in their province. The Brazilians are reported to have offered the construction of several small-scale power plants with various capacities and have them ready in two months.

Needs in Iraq are huge. With the expected hike in oil production, the country is not expected to have payment problems.

http://www.azzaman.com/english/index...05-20\kurd.htm

22nd May 2011

Government adviser: Economic development in Iraq continues to rise in the country

The adviser in the Iraqi government Sunday that economic development in Iraq continues to rise from year to year, which indicates that Iraq is following a policy of fiscal and monetary mature.

Salam al-Quraishi, told the Kurdish news agency (Rn) announced today that "economic development projects on the rise as it decreased the unemployment rate from 52% to 15% and the level of the poverty line from 54% to 23% and inflation declined overall level of 65% to 6% and high power output electricity from 3500 MW to 8000 MW. "

He added, "There is no doubt that there are problems faced Iraqi economic development projects because of foot-dragging in the implementation of service projects and not the financial allocations, as in most years, dating all the benefits to the state treasury."

He noted that "Iraq plan follows the five-year mission in the development and the Government from time to time review the Exact reviewed in order to achieve economic development projects that aspire to implement the government."

The Ministry of Planning and Development Cooperation, it will change the five-year plan, commensurate with the economic reality in the country, stressing the same time that Iraq will fail economically if these annual plan.

The center "Alistza" French is one of the centers responsible for monitoring the project planning in the countries of the world, especially in developing countries, issued last Friday, a report confirming that Iraq had adopted a five-year plan failed can not meet the needs of the main being the need to plan with the features and clear benchmarks to manage and address the problems services which citizens are suffering.

The Iraqi government has launched last July the National Development Plan for the next five years, from 2010 to 2014, which is expected to include nearly 2700 projects in various sectors, worth up to $ 186 billion.

The International Monetary Fund had said earlier that economic growth in Iraq has been slower than expected during 2010 in the Economic Review of the Fund, due to expected growth in oil production. Description of the Central Bank of Iraq earlier also rates of economic growth for the year 2010 as "shameful" compared with past years. The central bank has revealed in October that the last budget in 2011 will raise economic growth to 10% of what it was.

http://www.aknews.com/ar/aknews/2/241519/

Iraqi Trade: We seek to gain permanent membership of the World Trade Organization

The Iraqi Trade Minister, on Sunday, for that the ministry would start talks with the World Trade Organization to gain permanent membership in it.

According to the good God's good for the Kurdistan News Agency (Rn), that "the Iraqi Ministry of Trade is about to begin talks with the World Trade Organization to gain permanent membership in," noting that "the World Organization designated Morocco a representative for such talks with Iraq."

Hassan added that "the WTO 152 members always", pointing out that "Iraq is at present Honorary Member of the Organization so at his handling of trade with Member States to the Organization will be dealt with as one of the traders and not as a country with trade concessions," noting that "Neil Membership in the Organization would give Iraq the right to deal with its members the owners of the 152 strong economies on the basis of a unified, which is in the best interest of Baghdad in economic, commercial, agricultural and health."

He said that "the talks could take a long time, but it is important to get Iraq's permanent membership to the WTO in the end", stressing that "Iraq has called several Member States of the Organization to support him in his demand."

And on the reasons that have prevented Neil Iraq for permanent membership in the organization has so far said Minister of Commerce, said "the reasons are many and the most prominent non-Iraq's possession of a free market and government control in the past on the market in addition to the fact that business transactions with the countries of the world in the past were not as universal bases."

http://www.aknews.com/ar/aknews/2/241532/

Maliki: Who does not have the courage and competence to step down

Prime Minister Nuri al-Maliki on Sunday, officials in his government who Aimitlkon courage and efficiency in service delivery to step down from office and allow those who have the ability to provide services, noting at the same time that some of the killings take place in accordance with the wishes of the political and hired hands.

Maliki's call comes days before the expiry of the time limit set by the government of the "100 days" to assess the work of the ministries and the isolation of people who prove their inability to advancement of the work of their institutions.

Maliki said in a speech during the opening of a residential compound in al-Jihad neighborhood in western Baghdad and was attended by the Kurdish news agency (Rn), said that "all partners bear the responsibility, both by its location, and does not accept that a person holding and distancing itself from responsibility."

Maliki, who revealed that he will announce soon the reports belong to assess the work of ministries and institutions within 100 days, between "The reports be marked on any disorder and any delay in the work will be borne by each person within the scope of his responsibility."

He pointed to al-Maliki that "the country which speaks the Ssayasoh more than one language is not respected by all States," in reference to the differences between the circle of political power.

Maliki has promised "that he would be in the coming years working to end the housing crisis in the country, through a contract with foreign companies to build housing complexes and other low-cost distributed free to the poor."

And detection al-Maliki during his speech that "some acts of violence and murder carried out in accordance with the wishes of political and Boiade paid," adding that "his government have made strides in the fight against groups that are trying to confuse the situation and the destruction of the state and stop the wheel of progress." He said.

Has seen a number of Iraqi cities, popular demonstrations in 25 of the month of February in protest against the deterioration of services and the growing phenomenon of youth unemployment and the spread of administrative and financial corruption in state institutions as well as the lack of vocabulary ration.

In the wake of demonstrations decided to Iraqi Prime Minister Nuri al-Maliki to give all the ministries and independent institutions, week out a hundred days identified for follow-up will be delivered from the demands of the protesters then be held accountable for negligence, asked for the House of Representatives to the question and the dismissal of the provincial councils which failed to improve the services or carry out their duties.

http://www.aknews.com/ar/aknews/2/241665/

19th May 2011

Video: Citigroup Expansion into Iraq

Further to our article on Citigroup‘s planned expansion into Iraq, Bloomberg News has run a piece on this story.

The video includes an interview with Kyle Stelma of Dunia Frontier Consultants:

http://youtu.be/qUEHKUwVIsw

http://www.youtube.com/watch?v=qUEHKUwVIsw

http://www.iraq-businessnews.com/201...ion-into-iraq/

UAE Group to Invest in Oil Refinery

A United Arab Emirates Group Wants to Invest in a Refinery with the capacity of 300 thousand b/d, Thi Qar Investment Commission announced today.

Head of the Investment Commission Dr. Loay Al-Kheirallah told Aswat al-Iraq that the UAE group proposed erecting the refinery to cover the local shortage.

"The group will submit its request to the Iraqi Ministry of Oil", he added.

Head of the UAE delegation announced that this project will provide 6000 work opportunities in addition to building 750 housing units and power generation station with the capacity of 250 megawatts.

Media director of the commission Muheeb Al-Hilali that the delegation met with the governor Talib Al-Hassan who expressed his full support for the project and readiness to extend all assistance in accordance with Law 64 of 2007 of special investments in the oil sector.

The UAE group, Kahlid Group, is specialized in trading and services of oilfields and gas. It is stationed in Abu Dhabi.

Thi Qar province has proven oil reserves about 20 billion barrels in five un-invested oil fields.

http://en.aswataliraq.info/Default1....&id=142716&l=1

The disappearance of seven billion dinars from the budget of Najaf, the capital of Islamic culture

The spokesman for the Supreme Islamic Iraqi Council in Najaf, Abdul-Latif al-Amidi, the presence of confirmed information indicates to the disappearance of seven billion dinars from the budget Najaf, the capital of Islamic culture in 2012.

He called al-Amidi, in a statement, "told the independent news agency" to the Integrity Commission and the Financial Control and the Council of Najaf province to audit financial contracts entered into by the province and the Commission on Najaf, the capital of Islamic culture, and to examine the placement rate for these funds, stressing that the funds disbursed can not be matched and the size of the projects on the ground.

The Undersecretary of the Ministry of Culture Jaber Al Jabri said, in a press statement about the presence of administrative errors in the previous administration of the draft Najaf, the capital of Islamic culture, has caused many errors in administrative, financial and project delivery times.

http://ar.radionawa.com/Detail.aspx?id=6541&LinkID=197

Mlkerd: To improve the situation of workers and unemployment will guarantee an end to Iraq's entry into the free market

The head of the United Nations Mission in Iraq Ed Mlkerd said Tuesday that Iraq sought and work to improve the labor and an end to unemployment are good and improving Iraq's income contributes to the entry into the global market which is mainly active in the international economy.

He said Mlkerd during the economic and social and government, which was held in Baghdad and broadcast by Al-Iraqiya semi-official "The workers returned to their reality and the impact on machine operation in the country, develop the Iraqi economy and access to the better for all people despite the presence of some Alaqzaia facing the economy as challenges in particular."

He pointed out that the "United Nations is working now to develop the commandments which we saw in earnest to work on was we have put in numerous conferences and issues that were discussed, including the building towards a good future for free-market enjoyed a strong economy and appearance of the reforms are good and we're working on, which are needed to be integrated economy".

He Mlkerd "The Iraqi government has worked on some of the commandments, including an end to corruption in some Almwossat process and have developed good laws and work is good for the Iraqi economy and bring about the best and be the Iraqi market is competitive and therefore able to Iraqi citizens have the opportunity to work best and are the outcome of good ".

He said "This will help the Iraqi environment and supported well, and things will be returned to the environment Iraqi economic prosperity."

He stressed that "There are five things are necessary to find economies and work for reform, including reducing the number of unemployment in the country and deliver that proportion to less than the number required, and give complete freedom of workers and of delivery as required and provide protection and labor laws protect workers as well as achieving social justice in action".

http://www.aknews.com/ar/aknews/2/242120/

44.9 % of MPs Submitted Financial Accounts, Integrity Authority Says

Integrity Authority announced today (Monday) that about half of the Iraqi parliamentary members did not submit their income accounts, a statement said.

Only 179 MPs, out of 325, submitted their accounts, the Authority added.

As regards the officials with a ministerial capacity, their percentage reached to 79.2, while their percentage for the last year reached to 54.5%, as shown in the statement. It added that the premier and two of his three deputies disclosed their financial statements, while Vice-President Adel Abdul.

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

Maliki: we were able to provide the security environment suitable for starting the movement of investment in the whole of Iraq

Iraqi Prime Minister Nuri al-Maliki, on Monday, that Iraq is able to provide a security environment that is valid for the start of the movement-building and investment in the whole country, calling for Czech companies to invest in Iraq.

Maliki said in a speech in the forum business investment Iraqi Czech Republic, which was held today in Baghdad, attended by "Alsumaria News", "Iraq was able to provide the security environment suitable for starting the movement to build and invest in the whole country," he said, adding that Iraq was "almost to enter into civil war without the awareness of our people and our security refuted terrorism."

Maliki said that "negotiations with the Czech delegation, we have seen through a genuine desire to develop relations in various areas of political, military and economic," noting that "the signing of memorandums of understanding will open the way for Czech companies to invest in Iraq and to contribute in constructing."

Maliki has called for "all Czech companies to take advantage of investment opportunities in Iraq," asserting that "Iraq continues to provide a favorable investment environment for investment and for all companies."

The Prime Minister Petr Nichass, Monday, to Baghdad on an official visit to strengthen military cooperation and economic cooperation between the two countries.

His Czech Foreign Minister Karel Schwarz Nberg after meeting his Iraqi counterpart, Hoshyar Zebari, in the 19 of last April, Prime Minister Petr Nichass visit Iraq during the month of May for the consolidation of economic and cultural relations and military relations between the two countries.

The Czech Republic confirmed in 21 of last April, that the visit of Czech Prime Minister's visit to Iraq will open prospects for cooperation between the two countries in all fields, while the revealed economic cooperation a future in medicine, agriculture, oil and the construction of dams, she pointed out that the granting of visas to the Iraqis under study in at this time.

The head of the Iraqi Council of Representatives Osama Nujaifi visited on the sixth of April, the Czech capital of Prague at the head of a parliamentary delegation to visit lasted three days, during which he met a number of officials of Czech as well as meet with the Iraqi ambassador and members of the embassy and the Iraqi community, while expressing the Czech government is ready to cooperate military with Iraq.

And the Czech Republic, which participated in the coalition forces in toppling the former regime in Iraq in 2003, the embassy in Baghdad, in addition to some companies that are interested in the restoration and maintenance of monuments and other oil installations in various parts of Iraq, especially the Kurdistan region.

http://www.alsumarianews.com/ar/3/22...-details-.html