Thread: Iraq/Dinar News to April 19, 2007 10PM CST

Iraq Targets 3 Million Bpd 2007 Oil Production -Oilmin
Global Chemical Network - [15/04/2007]

Iraq hopes to raise oil production by nearly 1 million barrels per day (bpd) this year, achieving its long-held target of 3 million bpd by restoring northern exports, its oil minister said on Thursday.

Iraq has struggled to overcome the sabotage and outdated infrastructure that has hobbled its production since the U.S.-led invasion of 2003, largely due to unrelenting attacks on a key pipeline that runs north through Turkey.

It has regularly fallen short of production and export targets aimed at restoring pre-war levels.

"Iraq wishes to exceed producing 3 million barrels a day in 2007 -- this is achievable by repairing the northern pipeline that connects to the Mediterranean," Hussain al Shahristani told Reuters after a meeting with South Korean energy officials.

Iraq produced 1.97 million bpd in March, up from 1.89 million bpd in February, a Reuters survey shows, but Shahristani said last December that 2006 production averaged 2.3 million bpd.

Despite the weak production figures, exports climbed last month to 1.62 million bpd, the highest since last September, on increased shipments from the southern Basra oil terminal, shipping sources said.

Shahristani said the country was targeting oil production of more than 4 million bpd in 2011.

Shahristani was in Seoul to sign a cooperation deal with South Korea's energy minister Kim Young-joo on broadening opportunities for South Koreans to secure oilfields in Iraq, anxious to inject new investment into the ailing industry.



In 1997, state-owned Korea National Oil Corp. (KNOC) and Iraq's oil ministry under Saddam Hussein signed a preliminary deal to develop the Halfaya oilfield, estimated to hold up to 3.8 billion barrels of reserves and produce 250,000 bpd.

The South Korean energy ministry said the deal was never followed through due to United Nations financial sanctions against Iraq. But Iraq will "positively consider" involving South Korea in the field once oil legislation is in place, according a memorandum of understanding signed by the two sides on Thursday.

Iraq issued invitations for 15 Arab, Asian and American firms to drill 100 oil wells in the country's south as part of efforts to boost production, the oil ministry said earlier this month.

The OPEC member has the world's third-largest proven oil reserves and needs billions of dollars to revive its oil sector, which is crucial for rebuilding its shattered economy.

In February Iraq's cabinet endorsed a draft oil law regulating how wealth from the country's vast oil reserves will be shared by its ethnic and sectarian groups.

The oil law, which is awaiting parliament's ratification, has given the regions the right to negotiate with international firms on developing oilfields.

"It is achievable to pass the law within two months since all political parties are in favor," Shahristani said.

The law will also restructure the Iraq National Oil Company (INOC) as an independent holding firm and establish a Federal Council as a forum for national oil policy.

The world's top oil companies have been maneuvering for years to win a stake in Iraq's prized oilfields such as Bin Umar, Majnoon, Nassiriyah, West Qurna and Ratawi, all located in the south of the country.

45 States reduce its debts on Iraq
Source : Ilaf-15 / 04 / 2007

The Ministry of Finance said that the number of countries that have reduced their debt from Iraq hit 54 states, The continuing efforts of the government to reduce the remaining debt and hopes to reduce some of its debt to as much as 100% while the Adviser to the Prime Minister for Economic Affairs Kamal Basri, said the Paris Club to settle the debt of Iraq is required to stop supporting the state of a number of sectors and activities, so that 80% of the drop Iraq's debt.

The Ministry of Finance noted that the follow-up efforts of the ministry would continue to cancel the debts of Iraq finally to promote economic reality of the country, so as to ensure a decent life for all its citizens, and it was working to repatriate funds, especially those funds and real estate stolen by the former regime officials and smuggled outside the country as well as the follow-up to Iraq's dues for the loans granted to some countries where the Iraqi Fund for the Development of Foreign debts up the Iraqi state and the benefits of it and according to time periods.

He said Adviser to the Prime Minister for Economic Affairs that there is a plan to compensate currency, material ration card with a competitive market for materials supply, and that the plan will be implemented in three governorates of Dahuk, Samawah, Hillah, and the amount of compensation will share 10 per person, The volume of state spending and the big deficit in its budget, although the total amount of government support, have become a major burden on the state budget and in economic growth.

With respect to the oil and gas said that the structure of law consisting of the Oil Ministry and the Federal Council and the provinces, and these three constituencies under the control of the Council of Ministers and that the law gives the state central planning, and the oil policy of the country and left to the regions of freedom and the application of these plans and policies, and continued that Iraq needed 200 billion dollars for the reconstruction of the country, this amount can be provided only after 20 years if the National Oil Company was able to maintain production of three million barrels per day.

Peaceful demonstrations and armed groups deployed in the streets of Basra and a strong parliamentary visual bear a grudge against the al-Maliki invoked invoked meet with them
16 / 04 / 2007

Sources from Basra peaceful demonstration that started in the streets of Basra estimated the number several thousands of demonstrators called for the sacking of the governor and improve services and tackle corruption and the administrative and security deterioration and stated that the peaceful demonstration took place peacefully and without violence and chaos.

The sources spoke to various armed groups political trends deployed in the streets of Basra are trying to protect each of the parties to the political conflict, and dominates the street Basri state security and political tension following the war and publications that have swept the revival of Basra.

One of the publications about the importance of removing Governor of Basra to stop the corruption and ill-treatment services, and publications interview reveals a plot to sow chaos in the city and the occupation of official institutions and the theft and looting of banks, government departments.

This has contacted the Iraqi Observatory individual members of the House of Representatives from the governorate of Basra d. Abdul Hadi Al-Hasani, in order to evaluate the implications of the deterioration of security , as it became clear that the fires occurred when the terrorist attack on Aihad mosques and in the 3-22 and was followed by the assassination of Dr. Jafar masterpiece of the sea is active in the female community Basri.

Added member of the House of d. Abdul Hadi Al-Hasani that the political security situation has deteriorated rapidly, which called for a parliamentary coalition in the list of visual to request a meeting sovereignty Prime Minister Nuri al-Maliki put an end to the deterioration of the situation in the city of Basra, which is similar to what happened in other provinces, such as Diwaniyah, Diyala, Anbar, and continued ABOLHASSANI However, Mr. Prime Minister did not respond positively to the request of a parliamentary group visual bear a grudge for what happened.

He added. Abdul Hadi, which called for a parliamentary coalition visual on the list should consider issuing a statement calling for the formation of : the solution to the people of the decade, and to work to collect weapons from the uncontrollable elements, and the renunciation of discord and disunity among the people of Basra, and that the States have a responsibility to the rule of law, and to clarify the extent of the students on the city of Basra and open the file of immigrants since 2003 and the development of more effective means of treatment, and work to eliminate the unemployment, and begin reconstruction projects and emphasis on social services, and work to implement the plan to impose civil law.

The d. Al-Hasani that the parliamentary group believes that the visual peaceful demonstrations natural right, constitutional, the state must provide security protection for the demonstrators, and added refuse to use this constitutional right of instability and violence, and that it must form a joint committee of both parties to the conflict to know the demands of the demonstrators, as well as address the charges of corruption administrative and poor legal services, if any.

It is believed a member of the House of Representatives, Dr. Abd Al-Hadi Al-Hasani that there is a foreign plot to destabilize the strategic situation of the city of Basra, particularly as it is on the verge of an important stage of reconstruction and rebuilding will be a conference of the investment companies, which makes it a city of Basra economic strategy for Iraq.

Lastly, a member of the House of Representatives d. Abdul Hadi Al-Hasani, it is necessary to calm matters in Basra and address problems in a Aaclaeih and Mtozanh and fraternal spirit.

Number of banks 17 -----
Auction price selling dinar / US $ 1272 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 68.670.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 68.670.000 -----
Total offers for selling (US $) ----- -----

Gooooooooooooooood Morning Rolclub

"The More They Take, The More We Make"
"Stay the Course, its the difference between Winners and whiners"
(Posted with permission from KBush1961)


8.4 Trillion taken out and still the Party has not started


1. "0" Dinar rate change today, it was 1272, it is now 1272

2. A (net) worth of dinars, IQD - 87,348,240,000 pulled out of circulation today 4/16/07.

3. 17 banks participating today

4. 123rd auction since the beginning of CBI's reval plan

5. 198 days into the CBI's reval plan. (SIX MONTHS+)

6. 8,438,425,861,000 dinars pulled from circulation !!

6A. Conservative ESTIMATE of Dinars still in circulation or controlled by the CBI 8,561,574,139,000

7. "0" Dinars back into circulation today

8. 205 dinar change since Oct 1st (baseline was 1477) 13.879% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).

9. 0 point reduction in the rate so far this week. Was at 1272 at the end of last week, 1272 so far this week.

10. 1 point drop in the month of April. Ended at 1273 in March, now stands at 1272
In January we saw a 2.49% drop in the rate.
In February we saw a .928% drop in the rate.
In March we saw a .546% drop in the rate.

Good positive IC news.


Barham Salih : draft <International Covenant> will turn Iraq into a modern state

نائب رئيس الوزراء أكد وجود مؤشرات إيجابية من السعودية لتخفيض ديون العراق
Deputy Prime Minister confirmed the presence of positive indications from Saudi Arabia to reduce Iraq's debt

بغداد: حيدر نجم
Baghdad : Haidar Najm

The Iraqi Deputy Prime Minister Dr. Barham Salih, Iraq is on the verge of a new phase helps to rise and the achievement of tangible progress in different aspects of life, through a series of economic and political reforms and the legislature.

He told media representatives during a meeting with them at a round table in his office inside the Green Zone in Baghdad, the presence of a group of experts and economists, to achieve national reconciliation, and the elimination of joints, financial and administrative corruption, in addition to the reform in the areas of energy, education is the greatest challenge facing the country.

He pointed out that the initiation of these steps help to start the implementation of the International Covenant project, which aims to achieve economic self in Iraq over forty years to come.

Saleh said <that the draft International Covenant began as an initiative of Iraqi aircraft from the need for Iraq to take a series of political and security reforms and economic order to reach this country to the shore of safety and stability of the political and also economic prosperity>, Saleh added that the aim of this initiative is a partnership between Iraq and the international community as a way of to consolidate <keeping the Iraqi National> growth and continue the process of political, economic and social situation in the country.

Saleh announced that the draft International Covenant will be launched formally in the third month of May (May), next in the international conference held in Sharm El-Sheikh in the Arab Republic of Egypt,and that the final draft of the International Decade will be launched in this international meeting, which will include an expanded 40 countries and seven international organizations, including the United Nations, he said an ambitious project represents the outcome of a team effort from the various Iraqi ministries and supported by Iraqi Prime Minister Nuri al-Maliki and a number of members of Parliament who are interested and excited him.


The Deputy Prime Minister said he agreed with the United Nations after a request from Iraqi Prime Minister Nuri al-Maliki, in partnership with United Nations support for the project through a letter addressed to the Secretary-General of the United Nations Kofi Annan, who earlier approved by the turn, on the project or purely Iraqi initiative.
وقال: على ان تكون رئاسة المشروع مشتركة بين الحكومة العراقية والأمم المتحدة.
He said : to be the presidency joint project between the Iraqi government and the United Nations.

He added that the reason that led the government to accept and welcome the joint presidency is for the sake of <give this project an international cover and obtain the maximum possible support and support from members of the international>.

He described the Deputy Prime Minister with the International Decade of Iraq that <a road map towards achieving economic self-sufficiency; it is a mutual commitment between the leaders of Iraq and the Iraqi people, as well as a mutual commitment between Iraq and among partners in the document>.

The Iraqi official that Iraq has asked support of the international community in trying to reach safety and overcome the challenges facing it, particularly in the issue of the accumulated debt forgiveness on Iraq and the provision of grants, which have been at the top of the discussions at the meetings of the Group of the Preparatory <International Decade with Iraq> held in Kuwait and Abu Dhabi and New York, in addition to the study of the obligations of the Iraqi government to achieve the International Decade, which is expected to become a framework for the Iraqi economy between 2006 and 2011.

Saleh stressed that the abolition of Iraq's debts accumulated from the days of former President Saddam Hussein, Iraq will help in the implementation of many of the commitments contained in the document, saying <there are positive indications from Saudi Arabia to reduce the debt of Iraq, and there was talk about that at the recent Arab summit held in Riyadh, the Saudis promised Brotherhood good, and we hope to achieve that>.

In the area of energy, Saleh said that the government has ambitious programs to increase the production rate of 2.4 million barrels per day to 4.4 million barrels in 2010, and then up to six million barrels in 2012, through a range of steps to improve the investment climate and attractive and the development of the private sector, in order to complete the process of integration with the economies of Iraq the region and the world.
الشرق الاوسط
Middle East



http://translate.google.com/translat...language_tools

Originally Posted by Adster

Good positive IC news.


Barham Salih : draft <International Covenant> will turn Iraq into a modern state

نائب رئيس الوزراء أكد وجود مؤشرات إيجابية من السعودية لتخفيض ديون العراق
Deputy Prime Minister confirmed the presence of positive indications from Saudi Arabia to reduce Iraq's debt

بغداد: حيدر نجم
Baghdad : Haidar Najm

The Iraqi Deputy Prime Minister Dr. Barham Salih, Iraq is on the verge of a new phase helps to rise and the achievement of tangible progress in different aspects of life, through a series of economic and political reforms and the legislature.

He told media representatives during a meeting with them at a round table in his office inside the Green Zone in Baghdad, the presence of a group of experts and economists, to achieve national reconciliation, and the elimination of joints, financial and administrative corruption, in addition to the reform in the areas of energy, education is the greatest challenge facing the country.

He pointed out that the initiation of these steps help to start the implementation of the International Covenant project, which aims to achieve economic self in Iraq over forty years to come.

Saleh said <that the draft International Covenant began as an initiative of Iraqi aircraft from the need for Iraq to take a series of political and security reforms and economic order to reach this country to the shore of safety and stability of the political and also economic prosperity>, Saleh added that the aim of this initiative is a partnership between Iraq and the international community as a way of to consolidate <keeping the Iraqi National> growth and continue the process of political, economic and social situation in the country.

Saleh announced that the draft International Covenant will be launched formally in the third month of May (May), next in the international conference held in Sharm El-Sheikh in the Arab Republic of Egypt,and that the final draft of the International Decade will be launched in this international meeting, which will include an expanded 40 countries and seven international organizations, including the United Nations, he said an ambitious project represents the outcome of a team effort from the various Iraqi ministries and supported by Iraqi Prime Minister Nuri al-Maliki and a number of members of Parliament who are interested and excited him.


The Deputy Prime Minister said he agreed with the United Nations after a request from Iraqi Prime Minister Nuri al-Maliki, in partnership with United Nations support for the project through a letter addressed to the Secretary-General of the United Nations Kofi Annan, who earlier approved by the turn, on the project or purely Iraqi initiative.
وقال: على ان تكون رئاسة المشروع مشتركة بين الحكومة العراقية والأمم المتحدة.
He said : to be the presidency joint project between the Iraqi government and the United Nations.

He added that the reason that led the government to accept and welcome the joint presidency is for the sake of <give this project an international cover and obtain the maximum possible support and support from members of the international>.

He described the Deputy Prime Minister with the International Decade of Iraq that <a road map towards achieving economic self-sufficiency; it is a mutual commitment between the leaders of Iraq and the Iraqi people, as well as a mutual commitment between Iraq and among partners in the document>.

The Iraqi official that Iraq has asked support of the international community in trying to reach safety and overcome the challenges facing it, particularly in the issue of the accumulated debt forgiveness on Iraq and the provision of grants, which have been at the top of the discussions at the meetings of the Group of the Preparatory <International Decade with Iraq> held in Kuwait and Abu Dhabi and New York, in addition to the study of the obligations of the Iraqi government to achieve the International Decade, which is expected to become a framework for the Iraqi economy between 2006 and 2011.

Saleh stressed that the abolition of Iraq's debts accumulated from the days of former President Saddam Hussein, Iraq will help in the implementation of many of the commitments contained in the document, saying <there are positive indications from Saudi Arabia to reduce the debt of Iraq, and there was talk about that at the recent Arab summit held in Riyadh, the Saudis promised Brotherhood good, and we hope to achieve that>.

In the area of energy, Saleh said that the government has ambitious programs to increase the production rate of 2.4 million barrels per day to 4.4 million barrels in 2010, and then up to six million barrels in 2012, through a range of steps to improve the investment climate and attractive and the development of the private sector, in order to complete the process of integration with the economies of Iraq the region and the world.
الشرق الاوسط
Middle East



http://translate.google.com/translat...language_tools

Mornin' Adster....not having any luck with this link.

Originally Posted by Lunar

Mornin' Adster....not having any luck with this link.

Morning chum,

Here you go, good positive read.



Translated version of http://www.sotaliraq.com/

Originally Posted by Adster

Morning chum,

Here you go, good positive read.



Translated version of http://www.sotaliraq.com/

Thanx Adster...enjoy your day.

Dana Gas signs pact for venture in Kurdistan

Staff Report

Dubai: Dana Gas, the Middle East's first regional private-sector natural gas company, yesterday said it has concluded a number of agreements, including a Strategic Alliance Protocol with the Kurdistan Regional Government of Iraq.
These agreements form part of a strategy to advance the considerable economic benefits available to the region through the successful development of its substantial gas resources, a company statement said.
The agreements were signed in Erbil by Nechirvan Barzani, the Prime Minister of the Kurdistan Regional Government, and Hamid Dhiya Jafar, executive chairman of Dana Gas, in a ceremony that was attended by several KRG officials, as well as by members of the board of directors of Dana Gas, and directors of Crescent Petro-leum.
Under the terms of the Strategic Alliance Protocol, the Kurdistan Regional Government, Dana Gas and its affiliate Crescent Petroleum will jointly review the natural gas resources in Iraqi Kurdistan with a view to the optimisation, development and utilisation of that substantial resource.
As part of the Strategic Alliance Protocol, the Kurdistan Gas City project was launched. This is a major new gas-utilisation industrial complex designed to promote private sector investment in a variety of gas-related industries for optimal use of the region's natural gas resources. These will further benefit the country's citizens through training, job creation and the promotion of general economic activity.
Barzani said: "This important initiative with Dana Gas will set an excellent example to other regions and governorates of Iraq for the country's econ-omic development for the benefit of all Iraqis."
Service contract
Dana Gas was also appointed on a service contract basis to develop, process and transport natural gas from the Khor Mor Gas Field, and to also concurrently appraise the potential of the Chemchemal Gas Field, in order to provide natural gas supplies to fuel domestic electrical power generation plants under construction near Erbil and Sulaimaniya.

http://www.gulfnews.com/business/Oil.../10118498.html
__________________

Baghdad, and Tokyo SIGN agreement launching the Japanese grant to Iraq

الاستثمار في القطاع النفطي مفتوح امام الشركات اليابانية

Investment in the oil sector is open to Japanese companies

طوكيو - متابعة المواطن

Tokyo-up to the citizen

أكد رئيس الوزراء نوري كامل المالكي ان السوق العراقية مفتوحة أمام شركات الإستثمار اليابانية بالشكل الذي يخدم المواطن العراقي ويرفع من مستواه المعيشي، وان العراق الغني بخيراته مصمم على المضي قدماً في سبيل الإصلاح الإقتصادي والبناء والإعمار.

Prime Minister Nuri Kamal al-Maliki that the Iraqi market is open to Japanese investment companies a way that serves the Iraqi citizens and raise the level of living, and its riches rich Iraq is determined to move forward towards economic reform and construction and reconstruction.

وأضاف المالكي خلال لقائه وزير الإقتصاد والصناعة والتجارة الياباني في مقر إقامته في العاصمة اليابانية طوكيو أن هناك مناطق آمنة في العراق يمكن لها أن توفر الظروف الملائمة للإستثمار وإستقبال الشركات الأجنبية من أجل النهوض بواقع الخدمات وإطلاق عجلة إعمار العراق في البلد.من جانبه أعرب وزير الإقتصاد والصناعة والتجارة عن أمله بإستمرار الإنجازات الأمنية بالشكل الذي يمنح فرصاً أكبر لحضور الشركات العالمية بصورة عامة واليابانية على وجه الخصوص لإعادة إعمار وبناء العراق.من جانب آخر التقى المالكي في مقر إقامته بطوكيو وزيري الدفاع والخارجية اليابانيين كلاً على إنفراد وجرى تبادل وجهات النظر وسبل تطوير العلاقات بين البلدين على كافة المستويات.

He added Maliki during his meeting with the Minister of Economy, Industry and Trade in the Japanese residence in the Japanese capital of Tokyo that there safe areas in Iraq that could provide the appropriate conditions for investment and receiving foreign companies for the advancement of services and relaunch the reconstruction of Iraq in the country. From his part, Minister of Economy, Industry and Commerce hope constantly achievements security as it gives more opportunities to attend international companies in general and Japan in particular for the reconstruction and rebuilding Iraq. On the other hand, Al-Maliki met at his residence in Tokyo, the Ministers of Defense and Foreign Japanese both individually and there was an exchange of views and ways of developing relations between the two countries at all levels.

كما تم توقيع إتفاقية تبادل الوثائق بين سفيري العراق في طوكيو واليابان في بغداد بخصوص إطلاق القرض الياباني الممنوح للعراق.

It also signed an agreement to exchange documents between the Ambassadors of Iraq in Tokyo, Japan in Baghdad on the Japanese release loan granted to Iraq.

وفي سياق ذي صلة ، دعا وزير النفط حسين الشهرستاني الشركات اليابانية والكورية إلى الدخول في حوار مع شركة نفط الجنوب لتطوير الحقول المكتشفة الحالية في المنطقة الجنوبية ضمن خطة الوزارة لتطوير وزيادة معدلات الانتاج في هذه الحقول.

In a related context, the oil minister Hussein Shahrastani Korean and Japanese companies to engage in a dialogue with the South Oil Company to develop the discovered fields present in the southern region within the ministry's plan to develop and increase production rates in these fields.

وأشار الشهرستاني إلى أن العراق يمتلك حقولا عملاقة وكثيرة والكميات المنتجة لا تتناسب مع الاحتياطي الموجود في هذه الحقول لذا نحن بصدد تطوير هذه الحقول من خلال شركة النفط الوطنية بالتعاون مع الشركات الاجنبية، مبينا: اننا يسرنا أن تولي الشركات اليابانية والكورية اهتماما كبيرا لتطوير الحقول، وخاصة في مناطق معينة منها حقل نفطي في الناصرية وحقل كبير وعملاق في شرقي بغداد.من جانبها ، عدت الدكتورة عامرة البلداوي عضو اللجنة الاقتصادية والاستثمار والأعمار في مجلس النواب جولة رئيس الوزراء نوري المالكي الأسيوية بانها مهمة لاقتصاد العراق.

Shahrastani and pointed out that Iraq possesses giant fields and many, the quantities produced are not commensurate with the existing reserve in these fields is why we are developing these fields through the National Oil Company in cooperation with foreign companies, noting : we are pleased that the Japanese and Korean companies great attention to the development of the fields, especially in certain areas, including the field of oil in Nasiriyah, a large field and a giant in the east of Baghdad. for its part, promised Dr. ones Albldawi member of the economic, investment and reconstruction in the House of Representatives Round Prime Minister Nuri al-Maliki Asian is important for the economy of Iraq.

وقالت:"ان هذه الجولة هي امتداد لخطط فرض القانون خاصة الاقتصادية منها التي ستنطلق بعد استتباب الامن مباشرة".

She said : "This tour is an extension of the plans to impose the law, particularly the economic ones, which will be launched after the security directly."

واضافت:"ان العراق وفق هذه الجولة سينضم الى الاسواق الاسيوية وسيكون هناك تعاون اقتصادي بين العراق والدول الاسيوية لاسيما اليابان وكوريا الجنوبية".

It added : "Iraq will join this tour, according to the Asian markets, and there will be economic cooperation between Iraq and the Asian countries, especially Japan and South Korea."

وذكرت البلداوي:"ان الاتفاق الذي حصل لمنح العراق قرضا يابانيا سيسهم في تمويل مشاريع الاعمار في العراق".

Albldawi stated : "The agreement that was to give Iraq a Japanese loan will contribute to the financing of reconstruction projects in Iraq."

واشارت الى:"ان الوزراء الاقتصاديين الذين يرافقون رئيس الوزراء سيعقدون اتفاقات في مجالات قطاعاتهم يكون لها مردودات ايجابية كبيرة خاصة ما يتعلق بتأهيل المنشاة النفطية وتحسين ادائها

She pointed out : "The economic ministers who accompany the Prime Minister to hold agreements in the areas of sectors have positive returns with significant especially with regard to the rehabilitation of established oil and improve performance.

Translated version of http://www.almowaten.com/economy.html