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

Oil excavation in Karbala, production next year - official

A Ministry of Oil geological seismic team arrived in Ain Tamr area to excavate for oil.

Officials here believe that Karbala will be "an oil province" next year.

Ain Tamr's local government official Mahfoudh Satai told Aswat al-Iraq that "there were many oil wells discovered 1970s that have not been fully excavated."

Karbala's local government asked the Ministry of Oil to place this area within its international bid for excavations.

The team will start work next month, which is expected to be completed within ten months.

http://en.aswataliraq.info/Default1....&id=143309&l=1

Media Commission to allow mobile phone companies to move to third generation services

Allowed the media and communications for the mobile phone companies to move from the services of the second generation to third generation. The head of the board of trustees in the media and communications Safa al-Din spring in a statement to the Agency news, that the transition to third generation services will make Iraq make great strides in the field of information technology and telecommunication.

He said the move to these services would be during the next few after the completion of the procedures and controls required by these companies to move.

The Board has approved the words of a member of the Board of Trustees Ali Awsi that the levels of service provided to citizens by the mobile phone companies is still below the level of ambition, expressing ambition of the body to be a mobile phone service at advanced levels in the coming years.

He said the companies were claims that the noise that affects the level of service to the citizens, noting that U.S. forces have withdrawn from the city for six months, namely that the noise level must be reduced depending on the prosecution of those companies, but we see that the services provided by these companies still are the same, without improvement.

The companies Asiacell and ether, and Cork has signed contracts in 2006 for 15 years after he anchored the auction that took place in the Jordanian capital Amman in 2005 to put their products on the market Iraq according to new regulations, while withdrawn from the bidding company (Iraqna), which has worked since 2004 and sold the property in the country to Zain.

http://ar.radionawa.com/Detail.aspx?id=8807&LinkID=197

Economist: advance of the (100) salary will increase property prices

The economic expert as beautiful on the need to study the decision before the issuance and especially economic because it reflected negatively in the future if it were not informed the right way, and expected rise in property prices because of the advance of the (100) salary.

Jameel said in a statement (the Agency news) said on Wednesday that the decision distribution of loans will work to raise the prices of real estate due to increased demand and tight supply.

He said that the Ministry of Finance plans to launch an advance of 100 salary soon, adding that he is not against the idea of loans and advances, but the right way and studied, and that the issue of housing units will make the real estate goes down, and here we will notice the difference in the decisions that make the rise and fall at the same prices and the disruption as well.

http://ar.radionawa.com/Detail.aspx?id=8822&LinkID=197

115 trillion dinars Iraq's budget for next year

Al Sabah said the Finance Ministry that the country will face a deficit of about 16 trillion dinars, "$ 13.7 billion" in the budget for next year 2012, amounting to 115 trillion dinars, "98.3 billion dollars." said Finance Minister Rafie al-Issawi told reported by Reuters news agency that the deficit as a percentage of the budget of 2012 will be less than the deficit in the current year. The budget of the country 82.6 billion dollars in 2011 depending on the average oil price of 76.50 dollars per barrel and exports 2.2 million barrels of crude per day.

The officials said the budget figures 2012 depend on the price of oil at $ 85 a barrel. The spending in next year's budget to allocate 40 trillion dinars, "34.2 billion" for investments. He estimated the deficit in the current year at $ 13.4 billion, but officials expect to fill the gap if the global oil prices remain at current high levels.

http://www.alsabaah.com/ArticleShow.aspx?ID=9684

Iraqi Planning announces the identification of 1799 investment projects in 2011

The Ministry of Altejett Iraq, Wednesday, the ministry identified the 1799 investment projects to adjust the level of infrastructure in the country during 2011. said the spokesman of the Ministry of Planning Abdul-Zahra al-Hindawi told the Kurdish news agency (Rn) that "the Ministry of Planning identified investment projects 1799 investment projects carried out during 2011, mostly Macharaa for the construction of residential complexes or service delivery infrastructure."

"The Ministry of Planning is working with the National Investment Commission to facilitate the task of entering the international companies investing to work in the investment plan set by the Ministry of Planning."

He "The Ministry of planning gives priority to the inclusion of investment projects and service that have a direct relationship with citizens as part of economic development projects in the country, most notably the provision of residential buildings appropriate to the Iraqis." and Zkraadd of the owners of local companies and businessmen in the earlier National Commission for Investment imbalance between with respect to the granting of investment licenses between the local companies abroad.

And declared the national investment in the earlier obstacle to attracting investment companies, the ownership of land and the failure to protect the money of the investors. and approved the National Commission for Investment in 2006 a new law to invest in Iraq, according to the law is the body responsible for all projects investment strategy of a federal nature exclusively, while the regional and provincial bodies responsible for investment planning and granting investment licenses in their regions and held by the parliament extensive changes at the end of 2009. The Ministry of Planning said that the next stage demanding a high level towards the activation of the investment expected to enter the labor market of Iraq.

http://www.aknews.com/ar/aknews/2/247909/

Specialists: a partnership of private banks that can produce strong financial actors

returned to mind these days, the idea of merging banks are not able to raise their capital to the levels established by the Central Bank of Iraq to improve its performance and expand its banking services .. The economic-Sabah called for during the month of March last in a column have the need to adopt brokerage firms to placed merger between the banks to reach common convictions regarding this matter. has accepted this invitation Association of private banks, which in turn circulated it to other banks, the book has had a Ray supporter of the merger, but the authors insisted on the need to expand the banking services with support from the central, and indicates a report by the Agency news that the economists agreed that the Iraqi banks still suffer from poor services, so they suggested the need to merge or to enter a foreign partner backed with the provision of government support and encouragement ..

indicates where the economic expert Amer Jeweler to the importance of activation of the Banking Act, which will allow domestic banks and government that intervention in the investment process, and be prepared to give long term loans had to be invested.

The Jeweler: "The private banks are giving loans, short-term and high interest, making it a late relative to other countries."

According to the jeweler that this issue impacts on the economy because it will reduce the opportunities for investors and their willingness to lend, calling on these banks Alyalasraa amend its mechanism and to have its own rules and have a investor, whether Iraqi or foreign.

He Jeweler regardless of the obstacles faced by banks with few services, but they still have great confidence of the citizens and this What we're saying today increase the amount of deposit in it.

The director of the Association of private banks Abdul Aziz Hassoun that "Banking needs to culture and the creation of a bank because the dealers in Iraq still do not trust overlapping lines between banks."

He pointed out that "private banks seeking to use modern systems that facilitate the trading process and handle internal and external in Iraq with the use of systems that verify the link between bank branches and their position and through which to look at all transactions in its branches and this Mayazz control because they will be involved in a single system.

in turn, noted economic expert, Dr. Peace Sumaisem that "Iraqi banks require two basic steps to get to the road to success, either to merge with each other, either to find a strong partner from abroad to support and assist them, in addition to supporting the state have to bring them up to the required level."

She Sumaisem: "The private banks proliferated and expanded year later (1992), but it was surrounded by and linked to the laws and state policy, "indicating that the policy of banks, credit, monetary and borrowing had been subordinated to their systems, so note that it did not take the role of the real."

She Sumaisem: "The lack of state support to the banks of the credits and rates of interest, make them able to deal with the openness and expansion that took place recently, but it sometimes was instruct ministries not to deal with private banks and this is something serious and a big blow, at the time called the Central Bank from raising capital and expanding their bases."

and called State economic expert to give confidence to these banks to take a real role, although the citizen has begun to realize the importance of the services provided by private banks, which are characterized by the government, which is still primitive and poor and bureaucratic.

http://www.alsabaah.com/ArticleShow.aspx?ID=9716

Economists: Iraq needs a database to measure the volume of development

Attributes are concerned, researchers in the economic reasons for the reluctance to increase rates of development in the country to the absence of official statistics minute for the number of industrial facilities and production in Iraq, and stress on an ongoing basis the need for a data base solid can return them continuously to see the size of fact, industrial or agricultural or commercial property to stand on the real problems facing high rates of development and work on Hlhaltha ..

has attributed a number of economic weakness of economic development in the country to the lack of full national statistics on the number of economic facilities in the country, Aazin that to delay the census of population and postponed more than once ..

and the expert said Economic and member of the International Organization for Statistics Kazem Jumaili during the interview with the Agency (Rn) that "economic development in Iraq will remain reluctant because of the lack of new census gives precise figures for the reality of economic development in Iraq." "The census is supposed not to be exploited in any way because it affects the economic development and the nature of the Iraqi economy, particularly with respect to projects and commercial development and investment.

"He pointed out that "the development of Iraq requires a census of an economic census every seven years, at least to prepare the government's plan according to the data the census." and was scheduled to be general population census in the country in 2009, but the process is delayed more than once .. was postponed census indefinitely at a time in which she said the Ministry of Planning and Development Cooperation said that the month of October is the next best technicians to conduct a population census in the country.

The economic expert and member of the Iraqi Center for Development and Economy Abdul Khaliq al-Alwani said that "the Iraqi economy can not be his advancement and progress unless a regulation details of economic projects and the number of workers in the government sector and the number of workers in the private sector as well as the number of housing complexes that were built after 2003."

He pointed out that "Iraq has failed by 12 percent in the provision of economic development due to the census his time set by the Government in the previous year."

For his part, adviser to the CBI the appearance of Mohammed Saleh (Rn) that "the economic development of Iraq's ambiguous because of the lack of accurate data base for economic projects and the unemployed and the number of employees in the state."

"The census is supposed to be every 10 years to note how high the rate of economic development in the country during this period," noting that "the key factors in raising the level of economic development is in building housing complexes and raise the level of production of the private sector through a database sober provided by the census of population and development. "He continued by saying that" talk about the success of the five-year plan is not possible at present because they operate on the basis of old data and should be a census.

http://www.iraqdirectory.com/Display....aspx?id=16101

Chairman of the Investment Commission of Baghdad: the escalation of the Gulf and global demand for investment in Iraq

He said al-Moussawi told reporters that Gulf investment comes on top of our Prophet that the volume of foreign funds coming to the capital amounted to 5.394 billion dollars, and that Saudi companies received licenses to invest in housing.

He explained that the number of investment projects referred to in Baghdad until early this month over 114 projects, at a cost of 5.394 billion dollars, pointing to the completion of land allocation to be implemented it, adding that the project referred to is at 21 housing projects, and 26 tourist and 14 of the industrial sector and 41 for the commercial sector and service, and four of the health sector and three of the agricultural sector and two projects for the educational sector.

He said that the majority of Gulf Arab investors, foreigners tend to invest in the housing sector and industrial because of the pressing demand on these projects, pointing to the entry of several companies, UAE and Saudi Arabia to invest in this area, including the company «Dalla» Saudi Arabia. He emphasized the desire «Saudi companies and Chinese investment in the markets of central and converted to moles of major investment of the Baghdad International Fair ».

He Moussawi, that «the most important problems facing the investment is in the public budget allocations for the investment, as the sector operating a monopoly on 75 percent of the budget, and the rest goes to investment, and we found that the allocations of the next 25 years is not enough to meet the expenses of half of the projects that have contracted it, which means that Arab and foreign investment has become an urgent need ».

http://www.ipairaq.com/index.php?nam...onomy&id=40223

96 American companies seeking investment opportunities in Basra

A joint meeting was held today between the American Chamber of Commerce and Basra's Investment Commission.

96 American companies, representing different fields, were in attendance to acquaint themselves with investment opportunities in the province.

The head of Basra's Investment Commission Haidar Ali Fadhil told Aswat al-Iraq that he elaborated on the investment opportunities for the American delegation.

The housing projects were among the proposed ones.

On the other side, the American delegation stressed that "Basra has a brilliant future in the investment field."

http://en.aswataliraq.info/Default1....&id=143332&l=1

Karbala, Iraq's oil demand for inclusion in the next licensing round

Asked the Chairman of the Committee on Energy and Fuel House Karbala on Sunday, the Iraqi Oil Ministry to include preservation in oil licensing round next, indicating that the Karbala contain good amounts of crude oil.

The Chairman of the Committee on Energy and fuel Zuhair silent Daami, told the Kurdish news agency that we call on the Iraqi Oil Ministry to the inclusion of Karbala in oil licensing round next to the ministry they contain oil wells closed since a long time and can produce good quantities of crude oil.

The Federal Ministry of Oil had earlier announced the launch of oil licensing round fourth on April 25 / April special Balriqa exploration for 12 locations in Iraq.

http://ar.radionawa.com/Detail.aspx?id=9215&LinkID=197