Thread: Iraq/Dinar News. before Febuary 2nd 2006

Ilam, Jan 28, IRNA

Iran-Iraq-Investment
An Iraqi official here Sunday called on Iran's private sector to invest in projects to develop his country's infrastructure.


The consul general of the Iraqi consulate in the western Iranian province of Kermanshah, Riyadh Hassoun, made the call during a meeting with an Iranian delegation comprising representatives of Ilam province's Chamber of Commerce, Industries and Mines.

Iran has a huge potential for providing appropriate services and raising exports of needed commodities to Iraq particularly through border provinces such as Ilam, he said.

He praised the increased security at Mehran international border point and called for an end to the export of non-standard goods to Iraq via this border point.

Iraq welcomes cooperation with Iran in the commercial and economic fields and visits of Iranian pilgrims to Iraqi holy sites as well as efforts to secure its joint borders with Iran, he said.

Hassoun stressed that bilateral relations in the economic, cultural and tourism areas would contribute to strengthening of security and improvement of economic structures of the two states.

The head of the Chamber of Commerce, Industries and Mines of Ilam province, Mohsen Chamanara, expressed the province's readiness to expand its non-oil exports to Iraq via the Mehran international border and strengthen infrastructure of Iraq's border markets.

Ilam, which has a 430-km joint border with Iraq, has become a main gateway for pilgrims visiting Iraqi holy sites and export of Iranian commodities to Iraq due to the province's relatively secure situation and its proximity to Iraq's holy sites, he said.

He urged establishment of an Iranian consulate in Ilam taking into account the trend toward increasing travel by Iranian pilgrims to Iraq and exchange of visits by the two countries' traders.

2327/2321/1414



---> Iran-Iraq-Investment

Originally Posted by shotgunsusie

the present session ends the 10th. the next session starts in march, its the third session, they stated they would be done with the hcl BEFORE the third session.

Thanx Susie
I guess I am just amazed that the GD parliment will be taking another two-three week long break. Since the HCL was suppose to be done by the end of December 06 and here we are working on February 07, I will not hold my breath that it will done by Feb 10th.

I really want to believe they will pull if off, but their track record leads me to believe otherwise. I pray they prove me wrong.

UN Envoy to Iraq calls on neighboring countries to help improve situation in Iraq


Xinhua - English 2007-01-29 04:17:15

DAMASCUS, Jan. 28 (Xinhua) -- Visiting UN Special Envoy to Iraq Ashraf Qadi Sunday called upon neighboring countries of Iraq to help improve the situation in the war-torn country, the official SANA news agency reported.

Qadi, UN Secretary-General Ban Ki-moon's Special Representative to Iraq, made the remarks after meeting Syrian Foreign Minister Walid al-Muallem, SANA said.

"It is very important that neighboring countries of Iraq lend a helping hand to improve the situation there," Qadi was quoted as saying.

"Syria has an interest in Iraq's stability and security because what is going on in Iraq is influencing in a way or another on the neighboring countries," he added.

The envoy also said that his visit here is part of his tour to Iraq's neighboring countries which aimed at supporting efforts to reduce violence, bring greater stability and promote national reconciliation among all Iraqis.

According to SANA, Muallem and Qadi reviewed the latest developments on the Iraqi arena and the role that the UN could play in the country in the framework of relevant UN Security Council resolutions.

Muallem emphasized Syria's keenness to cooperate with the UN to make the current political process in Iraq a success and to help the Iraqis overcome the ordeal they are passing through.

He also called for holding a comprehensive conference for the national reconciliation in Iraq, SANA reported.

For his part, Qadi underscored Syria's important role as a neighboring country and the significance to gather efforts from the UN and the international community in order to reach a joint vision on the political solution in Iraq, according to SANA.

Editor: Luan Shanglin

Vol XXIX NO. 315 Monday 29 January 2007


Iraqis fail to reach deal on draft oil law

BAGHDAD: Iraqi officials say a hotly debated proposed oil law will not favour Americans but acknowledge that foreign companies will be allowed to take their profits out of the country - an incentive to draw foreign investment.

The Oil Ministry has been struggling for months to reach a compromise over draft legislation to govern Iraq's most important industry and pave the way for much-needed investment and know-how to revitalise the devastated infrastructure. But the measure faces strong objections by ethnic Kurds and concern about American influence in the sector.

Published reports in the Middle East said the proposal would provide for so-called product sharing agreements that would give international oil firms 70 per cent of the oil revenues to recover their initial investments and subsequently allow them 20pc of the profits without any tax or restrictions on transferring funds abroad.

"Without a decisive military victory, the US occupation of Iraq seems to be about to grab its oil prize by establishing a new sharing arrangement," the English-language Yemen Observer said yesterday, echoing a frequent criticism that the US-led invasion was aimed in part at capturing Iraq's oil.

Iraqi officials denied that the proposed law would favour Americans but stressed that it would set terms aimed at attracting international funds and know-how to an industry that faces a rampant insurgency and struggled even before the war due to sweeping UN sanctions imposed after Saddam Hussein's 1990 invasion of Kuwait.

Trade Minister Abed Falah Al Sudani said that American companies will be among those bidding for contracts under the proposed law and the Iraqis will "take the best offer ... and take into consideration the experience of the company".

He did not specify monetary terms but said "foreign companies will be able to win concessions for a long time", without elaborating.

"Iraq's economy has suffered because of the security situation and the economic laws, but we now want to implement laws that reform the country and reform the economy. These laws will increase the growth of the economy," he said.

In Washington, White House spokesman Trey Bohn said: "This development is is part of the give and take of the parliamentary process. Iraqis are taking the lead in securing their own future and it's reasonable to expect not all parties are going to agree on the best way to do that."

Prime Minister Nouri Al Maliki has pressed hard for a new oil law to be passed since he came to office on May 20. And US President George W Bush stepped up the pressure on the Iraqis to pass legislation to share oil revenues among all Iraqis in announcing his new Iraq strategy.

Gulf Daily News

Iraq refers Oil deals to Kurds, Angers Turkey
Iraq's oil authority has referred Turkish companies' requests for renewal of their contracts for transportation of oil products to Iraq to Kurdish authorities, prompting an angry reaction from Turkey.

Iraq's State Oil Marketing Organization (SOMO) has refused to renew the contracts of Turkish companies exporting oil products to Iraq and said in a letter to the companies that they should get in touch with authorities in northern provinces if they wanted to renew their agreements, Anatolia news agency said.
But SOMO's letter, signed by Director-General Fallah Al-Amri, drew ire in Ankara. State Minister Kürşat Tüzmen confirmed that some companies had received some "strange" letters saying that they should talk to authorities in the north, while others had been given the same instruction verbally. "SOMO's attitude is unacceptable," said Tüzmen to the Anatolia. "If someone is trying to test Turkey's patience, they will pay a heavy price for this."Turkey says Iraq's territorial integrity must be protected and denounces possible attempts by Iraqi Kurds to create an independent state in north of the country. Ankara also insists that oil and other riches of the country must be governed by Baghdad and the revenues must go to all Iraqis.
"Turkey recognizes an undivided Iraq with territorial integrity. Therefore, we talk to the central Iraqi government and SOMO on oil issues," Tüzmen said. "If some people try to impose certain things on Turkey, they will fail. Turkey never allows such a fait accompli." SOMO's oil move comes amid political tension between Turkey and Iraq over the status of the disputed city of Kirkuk. Ankara has been increasingly vocal over the past weeks in criticizing a planned referendum in 2007 on the fate of Kirkuk and demanding a postponement for the vote.
Turkish authorities say a large number of Kurds from different parts of Iraq have flocked to Kirkuk in recent years, in what they see as an effort to change the demographic composition of the city in their favor ahead of the referendum. Other residents of the city, Turkmen and Arab clans, also complain that Kurdish groups are trying to seize control of the city by sponsoring migration of Kurds.
Prime Minister Recep Tayyip Erdoğan has recently said Turkey would not allow a "fait accompli" on the fate of Kirkuk and hinted that a military option is also on the table. Kirkuk sits atop six percent of the world's known oil reserves and experts believe the city's control would bring significant leverage to Kurds in their attempts for independence. Iraqi government, in response, criticized Turkey for its interference in Iraqi affairs and said Turkish politicians were trying to stir tension in the north.
Turkey, in line with a past decree issued by the Prime Minister's office, speaks to only the Iraqi government and SOMO on issues related to export of oil production to Iraq.
Tüzmen said officials at the Undersecretariat for Foreign Trade have tried to contact SOMO to discuss the letters sent to the Turkish companies, but that there was no response from the Iraqi authorities. "SOMO officials do not answer phone calls" from the Undersecretariat for Foreign Trade, he said. Tüzmen sent a letter to Iraqi oil minister, criticizing SOMO's letter to Turkish companies and urging the Iraqi side to respect the principles previously agreed upon. "Unilateral decisions that do not respect these principles may negatively affect the ongoing trade of oil products between Turkey and Iraq," Tüzmen said in his letter.
TODAY'S ZAMAN

Originally Posted by SimplyD

I know I must have missed it.....but why do they only have until the 10th?

They don't, an article stated the "session will be postponed until after Muharram 10th in the hegira calendar," and right away assumptions are made that it's the 10th of Feburary.

Prayer Schedule

Mon 29 January 200710 Muharram 1428

Day of Ashura - Wikipedia, the free encyclopedia

Originally Posted by Inscrutable

It doesn't, an article stated the "session will be postponed until after Muharram 10th in the hegira calendar," and right away assumptions are made that it's the 10th of Feburary.

Prayer Schedule

Mon 29 January 200710 Muharram 1428

Day of Ashura - Wikipedia, the free encyclopedia

Quote:
Iraq : Legislative: Chapter II of the House of Representatives will continue until the 10th of February.

Baghdad-Sabah
The Congress voted to extend the legislative II until the 10th of the month next February to enable it to carry out what is included on the agenda of legislation and ratification of the draft laws

This came in the second session (open), which was held under the chairmanship of the President of the Council, Dr. Mahmoud Almshahadani last Tuesday, after being read the names of the deputies absent from the meeting. In another paragraph of the agenda Voice members of the House of Representatives to the law on the accession of Iraq to the memorandum of understanding in the field of maritime transport (ESCWA), as stated in the reasons for it (for the purpose of paying the maritime transport in Iraq more support and keep up the achievements of the development in this field, and in order to consolidate relations of cooperation and integration between the Arab Mashreq member in the (ESCWA), and for the purpose of the accession of the Republic of Iraq to the memorandum of understanding regarding the deal in the field of maritime transport in the Arab Mashreq initiated this law).

.It was the first reading of the Treaty of the World Health Organization Framework Convention on the fight against tobaccos.
2007/1/22At the second meeting, which began its afternoon members of the House of Representatives voted to approve the draft law on the Office of the Independent Electoral Commission, the approval came on the bill one day after the vote by members of the Council to extend the law on the Office of ending 2007 / 1 / 22

It will be recalled, the new draft law included (9) chapters included (9) materials, this was stated in the rationale for the bill is read (after the ratification of a permanent constitution and the law which established the Office of the Independent Electoral Commission came into force, and the need to enact a new law governing the work of UNHCR in pursuance of the provisions of Article (102) of the Constitution ... Launched this law).

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1,500 policemen fired in Iraqi province

THE ASSOCIATED PRESS

BAGHDAD, Iraq -- The mayor of Baqouba and 1,500 police officers in Diyala province have been fired in a bid to end the raging violence in that region northeast of Baghdad, the provincial police chief said Sunday.

Ghanim al-Qureyshi, who took command of police operations in the violent province after his predecessor was sacked last month, said Mayor Khalid Al-Senjeri, a Sunni Muslim, was dismissed over suspicions he was collaborating with Sunni Arab insurgents.

Last week, the mayor was reported kidnapped by insurgents who blew up his office and stole several new police vehicles in Baquoba, the provincial capital. He was released a few days later.

Al-Qureyshi said the 1,500 policemen were fired because they fled rather than fight when insurgents attacked in Baqouba in November. The chief said he was determined to create a police force free of corruption.

American and Iraqi officials reported last week that their military forces had killed 100 insurgent fighters in a 10-day operation near Baqouba.

In June, al-Qaida in Iraq leader Abu Musab al-Zarqawi was killed in a U.S. airstrike on his hideout near Baqouba, and his death was followed by a series of raids that the military said revealed a "treasure trove" of intelligence.



But the situation in Baqouba began to worsen in October when Iraq's predominantly Shiite Muslim army launched a major detention campaign against suspected Sunni insurgents in the city. Angry Sunnis fought back.

Days after the start of the campaign, leaflets of a little-known group called the Mujahedeen of Diyala were found in the streets. They demanded the resignation of the army and police commanders as well as the governor of the province - all Shiites - within 30 days.

None of the three resigned by the deadline, and insurgents attacked police, leaving dozens of people dead. The police force nearly collapsed in late November, and the city has been under the authority of the Iraqi army since then.
1,500 policemen fired in Iraqi province

Thanks, I missed that one I was referring to the post by Lewscrew http://www.rolclub.com/iraqi-dinar-d...tml#post162097 which stated that it was postponed. Name calling is below you, especially since you are my nominee for mod.

Originally Posted by Mike5200

Quote:
Iraq : Legislative: Chapter II of the House of Representatives will continue until the 10th of February.

Baghdad-Sabah
The Congress voted to extend the legislative II until the 10th of the month next February to enable it to carry out what is included on the agenda of legislation and ratification of the draft laws

This came in the second session (open), which was held under the chairmanship of the President of the Council, Dr. Mahmoud Almshahadani last Tuesday, after being read the names of the deputies absent from the meeting. In another paragraph of the agenda Voice members of the House of Representatives to the law on the accession of Iraq to the memorandum of understanding in the field of maritime transport (ESCWA), as stated in the reasons for it (for the purpose of paying the maritime transport in Iraq more support and keep up the achievements of the development in this field, and in order to consolidate relations of cooperation and integration between the Arab Mashreq member in the (ESCWA), and for the purpose of the accession of the Republic of Iraq to the memorandum of understanding regarding the deal in the field of maritime transport in the Arab Mashreq initiated this law).

.It was the first reading of the Treaty of the World Health Organization Framework Convention on the fight against tobaccos.
2007/1/22At the second meeting, which began its afternoon members of the House of Representatives voted to approve the draft law on the Office of the Independent Electoral Commission, the approval came on the bill one day after the vote by members of the Council to extend the law on the Office of ending 2007 / 1 / 22

It will be recalled, the new draft law included (9) chapters included (9) materials, this was stated in the rationale for the bill is read (after the ratification of a permanent constitution and the law which established the Office of the Independent Electoral Commission came into force, and the need to enact a new law governing the work of UNHCR in pursuance of the provisions of Article (102) of the Constitution ... Launched this law).

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Originally Posted by Mike5200

2007 if ratified by the Parliament this budget without a serious change in the future of Iraq to a severe economic crisis in 2007 the adoption of the budget on oil revenue reflects structural imbalances in the electricity crisis of the Iraqi economy will deteriorate because allocations did not include the establishment of new stations for a power generation. D. Nabil Marsoumy Professor of Economics at the University of Basra beacon-A special debate currently rages noise in the corridors of Parliament and among analysts, economists and academics, but in general the Iraqi street over the draft budget for 2007 which was launched by the budget explosive as the size of about (41) billion dollars (1)

This prompted some to the ayatollah have deployed Sheikh Mohammed, the spiritual leader of the Virtue Party, to say that this figure is not great delights me in a clear reference to the huge volume of administrative corruption in Iraq who could devour a large percentage of this budget. Because of the great importance of the role of the economic and social impact on the state budget and their potential impact on the Iraqi economy and society it is necessary to highlight the nature of the components of this budget, objectives and the challenges they face and what can emerge from the direct implications in the life of the Iraqi citizen ... For lighting these aspects met (Lighthouse) Prof. Dr. Nabil Marsoumy teaching in the Faculty of Economics, University of Basra, an economist, has graciously expressed the following opinion :

Beginning with the 2007 budget, a budget of more than 2006 at (10) billion dollars. This budget has been built on several assumptions, including that the volume of oil exports about seven million one hundred thousand b / j and the price per barrel was $ (50), while the exchange rate of the dinar against the dollar will be approximately 1260 dinars per dollar. (2) The first assumption is realistic because it reflects the actual production capacity of the Iraqi oilfields in the south of the country, which flows through which most of Iraqi oil exported abroad. (3)The second assumption on the price of (50) dollars per barrel is the assumption is unrealistic and based on what seems to economic studies serious to predict the future of oil prices, where the evidence indicates a high probability in the reduction of world oil prices which indeed took place since late last year began as oil prices land progressive rates escalates even up now the price of Basrah Light oil to 44 dollars per barrel, which will exacerbate the deficit in this year's budget, of originally (10) trillion dinars, the equivalent of seven R. seven billion dollars. (4)As for the third assumption for determining the exchange rate for the new Iraqi dinar equivalent of 1260 dinars to the dollar, have announced that the Central Bank of Iraq is ready to spend (15) billion dollars in 2007 to the defense of this price through the sale of dollar in daily auctions, which will enhance the stability of the exchange rate of the dinar, but also exacerbate the budget deficit through the sale of the dollar in the local market. (5) 2007 budget relies on oil revenues, which contribute 93% of total revenues, compared with 7% of non-oil revenues of taxes, transportation, income property and institutions of the State and customs duties. This is very dangerous because it reflects the nature of the structural imbalances that have been blowing away at the root of the Iraqi economy, which depends almost dogs on a point of the oil and the failure of the efforts in recent years to have a diversity in the structure of the Iraqi economy on the other hand. (6) Moreover, this year's budget would be subject to commodity prices, particularly oil, which is characterized by vacillation and lack of stability and even in the downward direction this year, which may expose the components and joints, to the budget deficit and confusion, which may pose a constraint on economic and social objectives which seek to achieve budget Fund did not give not to to the needs and interests of the Iraqi people especially class widespread social suffer the severe hardships of life, (7)and if the Parliament had ratified the this budget without the change Grandfather where, Iraq is on the verge of an acute economic crisis manifested all clarity in many sectors
and if the Parliament had ratified the this budget without the change Grandfather where, Iraq is on the verge of an acute economic crisis manifested all clarity in many sectors particularly in the fuel and electricity and push prices towards the sharp rise, which would impact positively negatively on the lives of the Iraqi citizen and subjected economic security of the individual and for the country as to the many risks, will haunt to the unstable security situation (8)


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So what is this telling us?

1. Their budget originally was about 41 billion dollars

2. Their budget originally was based on a dinar value of 1260 and $50 a barrel oil but now they are afraid that the oil won't bring $50 a barrel but more like $44 a barrel. Also they were figuring in a 10 Billion dollar deficit into their original figures.

3. They seem to think their numbers are authentic based on the production already proven in the southern oil fields.

4. What I am hoping is can someone explain to me how they are spending $15 billion in defending the dinar at the CBI auctions? I really don't understand this. The dinar is at an artifically low program rate. They have 2 sets of books when it comes to the dinar, the program rate (which it is now) and the real rate (where it was before). They have way more foreign reserves, assets, gold etc. to have a much higher exchange rate for the dinar. But yet they are stating here that they are going to spend 15 billion usd in defending it? It looks as though in American terms, they paying points when purchasing a mortgage in order to obtain a more favorable rate. Can anyone explain this to me in layman terms? If taken as written, they are stating that their dinar isn't even worth 1260 = 1 usd but they are going to prop it up by spending an extra 15 billion usd in defending it. This is the reverse of a r/v where we were hoping it is going. They are stating here that the dinar isn't really worth even 1260.

5. They are stating that 93% of their revenue is oil based. Only 7% is non oil based. This would change dramatically and almost over night if they would r/v 1 / 1. Pay people what they are worth, give them purchasing power to buy stuff, give them jobs (or better yet let them start up their own small businesses) that pay enough to support their families and the insurgency/sectarian violence would greatly subside. Insurgency and sectarianism flourish were people are suffering and miserable. Take away the suffering and misery and you take away to a large degree the tools of the insurgency/sectarian violence. Surely they must see this!!!! A blind man could see this at 6 blocks away!!!!

6. This is saying that because of the fluctuations in the oil futures/commodities markets, they are afraid of the oil futures coming in lower than their projections. And at 93% reliance on oil prices, this is a real problem. (Light bulb goes off) Hey I've got an idea, r/v 1/1 get out of the way, and let the Iraqi people start living as they once did before. The govt should take care of the insurgency/sectarian death squads etc., make sure the infastructure works (ie. power, water, lights, fuel, schools, trash pick up etc) and the Iraqi people know how to take it from there. Prosperity for all!!

7 & 8. They are afraid of the unkown. There are risks to their numbskull budget plan as written and they know it. They don't even mention foreign investment, private enterprise, wages going way up, purchasing power dramtically increasing, non oil sectors getting back on their feet, and a reduced dependance on the oil sector for survival (which could all come about with an r/v of 1/1). They have so many natural resources that it is a major embarrassment to be in the condition they are in. Yes they need a military solution, and a political solution, but most importantly an economic solution. Their govt can't do it all by themselves. Neither can the US. They need to Iraqi people to shoulder the majority of the load. The Iraqi people want this. They are saying, "give us a chance and we will prove ourselves. Give us our r/v at least 1/1 and we will pull out of the mess our govts (Saddam and present) have put ut in. Give us our R/V now!!!" imo

worf