Thread: Iraq/Dinar News until 5PM CST May 10,2007

Voices of Iraq: Basra-Airport
كتب: nakr2004 في يوم الأحد, 06 مايو, 2007 - 01:58 PM BT

Basra-Airport
Flights resumed at Basra airport
By Malek Saadoun
Basra, May 6, (VOI) – Flights were resumed at the Basra International Airport on Sunday after the airport was closed to all flights on Saturday, a British military spokeswoman said.
"The flights were stopped yesterday because the airport was damaged as a result of shelling attacks during the early hours of Saturday," a spokeswoman for the Multi-National Force in southern Iraq told the independent news agency Voices of Iraq (VOI).
A statement by the MNF in southern Iraq read that the airport would be closed indefinitely to all flights as of Saturday, due to shooting attacks that caused damage.
The Basra International Airport lies 25 km northwest of the city.

Basra-Airport :: Aswat al Iraq :: Aswat al Iraq

Wehad better be careful here this is a news thread. Thanks again Susie, if you dont mind I will carry this conversation over to a Rumor thread and let you get back to posting News. Thanks again, your the bomb!

Arab League start preparations on national reconciliation conference

(Voice of Iraq) - 06-05-2007

Arab League start preparations on the Iraqi National Accord

Cairo - The Voice of Iraq - Ibrahim Mohammad Sharif

‏He met Mr. Amre Moussa, Secretary-General of the League of Arab States yesterday evening, Mr. Barham Ahmad Salih Iraqi Deputy Prime Minister has been discussing how to prepare for the reconciliation conference under the auspices of the Iraqi comprehensive Arab League at the earliest, according to the item XIII of the final statement of the Iraqi neighboring held on yesterday in the city of Sharm el-Sheikh.
In the same vein, a well-informed source revealed that the Arab League has begun to intensify its contacts with members of the Iraqi government and various parties to consult on ways to implement the recommendations of the Sharm el-Sheikh activating the Arab League initiative for Iraqi National Accord.
The source said that despite the statement ignored the conference final, had called for an end to sectarian and dismantle militias and armed groups, promote reconciliation and expand political participation, which will be done at the university.
The source expressed hope in the implementation of the covenant document endorsed by the Sharm el-Sheikh Arab and international consensus has been identified time frame as much as five years.
It should be noted that (third item) ten from the final statement of the International Ministerial Conference of the neighboring countries of Iraq and Egypt and Bahrain and the permanent members of Security Council and the Group of Eight Summit in Sharm El Sheikh on May 4 being referred to (the importance of supporting the United Nations and the need to strengthen the central role in coordination of international assistance in support of the political process and national reconciliation and to welcome the role played by the Arab League to activate the initiative of the Iraqi National Accord and the call to resume preparations for a reconciliation conference under the auspices of the Arab League as soon as possible and welcome the effective contribution of the Organization of the Islamic Conference in the process Alessayashalgareh and their active role in promoting tolerance among different communities in Iraq.)

Sotaliraq.com - ÕæÊ ÇáÚÑÇÞ

Kiko, do you have a link for this great article?

Thank you.

Originally Posted by kiko

Stock Iraqi begin work soon circulation electronic
Baghdad-file Press

Iraq starts market for securities work shortly after the circulation of electronic access devices and electronic systems and equipment for this project and processed by the company Swedish OMX specialized international and implemented projects for automation (30) Stock Exchange and international, especially processed and that the regulations of the Stock Exchange is the most modern in Iraq Middle East.

And so the Iraqi Stock Exchange deposited circulation count, which limits the transactions quick and immediate application and transparency in circulation, and represents a quantum leap in performance and market activity each alleviation and to increase the number of deliberative sessions to ten weekly sessions morning and evening instead of the two currently.

And Iraqi bourse had applied an intensive training program for cadres and their cadre of engineering, technical, as well as intermediaries in order to qualify for dealing with the circulation operations and electronic central depository, as has been done with the internal linkage offices intermediaries and witness this week the memorial services after the Hall prepared especially for this purpose.

And looking forward, investors and shareholders of listed companies on the market to the announcement of the Securities Commission to allow the Iraqi-Iraqi circulation in the bourse from the beginning of next June, according to guide the Council of Ministers in this regard, which underlines the increasing expectations of the bourse's activity and expansion work.


I LOVE IT!!

: ‘Oil reserves could be almost double current estimates’

Iraqi Oil Minister Hussein Shahristani (center) and Khaled al-Attiya, first deputy Parliament speaker (second right) at the Dubai conference on the controversial bill to open Iraq’s oil sector to foreign investors

Iraq’s oil reserves could be almost twice as vast as current estimates, and its production could also double in five years, a report from consultancy IHS has showed, The Financial Times reported.

According to the business daily, the report, which it said was the most comprehensive independent survey of Iraq’s resources since the American invasion of the country in March 2003, noted that such developments were dependent on an improving security situation in the country.
“Obviously the security situation is very bad, but when you look at the sub-surface opportunity, there isn’t anywhere like this”, Ron Mobed, head of IHS’s energy division, was quoted as saying by the FT. “Geologically, it’s right up there, a gold star opportunity”.
Doubling Iraq’s oil reserves would mean an increase of 100 billion barrels of oil, which would make it the second-biggest source of oil reserves in the world, after Saudi Arabia and ahead of Iran, the FT said. Iraq is currently third on that list with 116 billion barrels of reserves.
IHS also said that Iraq could double its current rate of production in five years to four million barrels of oil a day, if international investment into Iraq increases.
The consultancy’s study of Iraq’s oil reserves is based on data collected before and after the 2003 invasion, and its prediction of an additional 100 billion barrels of oil there is based on an analysis of geological surveys.
It is all dependent on improved security in the country, and that has been slow in coming.
‘Draft law keeps oil in Iraqi hands’
Iraqi officials insisted Wednesday that a controversial bill due to be submitted to Parliament will keep the country’s oil wealth in Iraqi hands and benefit all of its warring communities.
“Under no circumstances would Iraq relinquish its authority, its responsibility and its control over Iraq’s natural resources”, Oil Minister Hussein Shahristani told reporters in the United Arab Emirates.
The bill, approved by the Shiite-led government in February after months of wrangling, opens Iraq’s oil sector to foreign investors.
But Shahristani said incentives to international oil companies to invest in the industry would be through the profit margins they will achieve, “not by control of Iraq’s wealth.”
Some Iraqi oil experts and politicians have voiced concern that production sharing contracts envisaged by the bill will deliver the country’s oil riches to foreign firms on a platter.
Others have objected to powers given to regional authorities to negotiate contracts.
Iraq has proven reserves of some 115 billion barrels, and could produce 10 million barrels per day (BPD) for several decades, according to analysts.
But current output reaches barely two million BPD as a result of the combined effects of decades of under-investment in infrastructure and rampant insecurity since the invasion.
The draft law, which would create a federal oil and gas council, aims to distribute oil revenues equitably among Iraq’s 18 provinces on the basis of their populations through a federal account.
The proposed central fund shows that the law “is in the interest of all Iraq, not [just] the producing regions”, Planning Minister Ali Baban told the conference.
Most oil production is in the Shiite South, with the best prospects for new finds centred on the mainly-Kurdish North, which has its own regional government.
The Kurds also claim the existing northern oilfields around the city of Kirkuk, despite opposition from Arab and Turkmen residents.
The Sunnite Arab former elite, which lives mainly in areas of Central Iraq without oil reserves, has voiced concern that under a fully federal system it might lose out on its share of oil income.
But the Kurdish regional government’s oil minister, Ashti Hawrami, said the bill agreed by the government already went too far in trying to assuage Sunnite fears and did not square with the federal provisions of the constitution.
Hawrami complained that annexes to the bill envisage putting 82 percent of Iraq’s oil reserves under the control of a “centralized and inefficient institution”, an allusion to the state Iraqi National Oil Company, which would be revived under the legislation.
Should Parliament fail to pass the law by the agreed end-of-May deadline, the Kurdistan government would award its own contracts, Hawrami said.
He said the regional government wanted to “directly manage” its share of oil revenues and not be told by the federal government how to spend its money.

Originally Posted by *CLEO*

Iraqi News
Sunday, May 06, 2007 Creditors unsure of pardoning Iraqi debts
(MENAFN) Iraq's Deputy Prime Minister stated that Saudi Arabia is making further negotiations with the central government of Iraq to exempt debts owed to the Kingdom, Iraq Directory reported. He also stated that during the regional conference which took place in Egypt, Russia and Kuwait were unclear in writing off Iraq's debts. Iraq's debt relief is one of the aims of the International Compact to make a stable, united, democratic Iraq by 2012. Throughout the conference, the Iraqi Prime Minister advocated all nations that have close diplomatic ties with Iraq to pardon the country's debts in order to allow the country to commence its reconstruction and development. It is worth mentioning that Iraq's total remaining debts amount to approximately $62 billion.

http://www.tbiraq.com/menafn_news

If they know what's good for'em they will PARDON Iraqi debts!!!!!!!!!!!!!

TNT

Hello everyone. While in Iraq in '04 many of us were buying dinar. At the time, the largest objection to investing in the currency was the foreign debt. I seem to remember that the number stated many times was around 138B to 140 Billion USD. Once we learned the the Paris club had a plan to forgive 80% of the debt, announced in Aug. of '04, we got very excited. It was our first evidence that there was an economoc plan for the Iraqi's to return their currency back to higher levels. Since the above article states that the remining debt is around 62Billion, and that around 30B was forgiven at the conference, I really don't feel this has been fully appreciated. (not to mention they received a 5B grant) For a small country to have reduced its foreign debt by 80 Billion is truely remarkable. If this was a tradable currency anywhere else in the world, such a reduction of foreign debt would have sent the value of the currency sky-high on the next trading day. Additionally, if you take into account the income from around 3MBD @ 65$ per, deduct the GOI budget (43Billion?) you arrive at a remaining balance of income that is still impressive and more than adequate to retire the remaining foreign debt in a short period of time. Maybe less than 3 years. In this world, few countries could even dream of a plan like this. It has recently printed that a production rate of 5MBD would make Iraq 153 Billion a year, and also stated that Iraq might be able to achieve this very quickly. So from a balance sheet perspective, this reduction of debt was a very significant event and there may be further reductions. When we take this event and combine this with the removal of currency, a GOI in budget, FIL, ISX to open soon and possible HCL soon, then taken together, ITS ALL GOOD FOR US. Thank You.

Originally Posted by PlatanoKing

Kiko, do you have a link for this great article?

Thank you.

Here you go!

ÇáÈæÑÕÉ ÇáÚÑÇÞíÉ ÊÈÏà ÇáÚãá ÈÇáÊÏÇæá ÇáÇáßÊÑæäí ÞÑíÈÇð - ÔÈßÉ ÃÎÈÇÑ ÇáäÌÝ ÇáÃÔÑÝ

Thanks for the link and this EXCELLENT find… Soon very soon we will all be rich!

Originally Posted by kiko

Here you go!

ÇáÈæÑÕÉ ÇáÚÑÇÞíÉ ÊÈÏà ÇáÚãá ÈÇáÊÏÇæá ÇáÇáßÊÑæäí ÞÑíÈÇð - ÔÈßÉ ÃÎÈÇÑ ÇáäÌÝ ÇáÃÔÑÝ

Iraqi Deputy : conditions of the World Bank unloaded budget 2007
(Voice of Iraq) - 06-05-2007 | Sotaliraq.com - ÕæÊ ÇáÚÑÇÞ

Iraqi Deputy : conditions of the World Bank has emptied the budget of 2007 slogans
Baghdad-file Press

The member of the House of Representatives, Dr. Albldaoui ones that the State's obligation to the International Monetary Fund conditions led to the abandonment of the bright slogans prepared on the basis of the federal budget, where the removal of subsidies on oil derivatives, were also reduced support for the food basket of ration cards in the framework of an overall strategy for the phased withdrawal of support policy, which was described as having a negative impact on the overall economy.

And if the 2006 budget had witnessed the beginning steps to raise public support for oil derivatives, and the ration card, these trends have continued in the 2007 budget, since support was lifted once the oil derivatives in light of repeated crises stifling and the level distribution and abundance in all governorates the country, as well as the lack of an appropriate and clear signs of investment in the oil sector help to alleviate the crisis, and this means a big increase in the prices of derivatives decreasing Iraq during the months of this year if not accompanied by the decision to lift support bold and intense negotiations with the International Monetary Fund so that we can assess the Least the postponement of the lifting of fuel prices, because that will reflect directly on the poor and disadvantaged are not able to deal with the black market, leading to a severe crisis afflicting the country, and the situation falls on the rest of the support and trying to alleviate the problem of unemployment and poverty which had not yet appropriate remedies in the framework of a national strategy adopted by the state budget.

When are they going to deal with this? You know what they need to do.

Originally Posted by PAn8tv

Iraqi Deputy : conditions of the World Bank unloaded budget 2007
(Voice of Iraq) - 06-05-2007 | Sotaliraq.com - ÕæÊ ÇáÚÑÇÞ

Iraqi Deputy : conditions of the World Bank has emptied the budget of 2007 slogans
Baghdad-file Press

The member of the House of Representatives, Dr. Albldaoui ones that the State's obligation to the International Monetary Fund conditions led to the abandonment of the bright slogans prepared on the basis of the federal budget, where the removal of subsidies on oil derivatives, were also reduced support for the food basket of ration cards in the framework of an overall strategy for the phased withdrawal of support policy, which was described as having a negative impact on the overall economy.

And if the 2006 budget had witnessed the beginning steps to raise public support for oil derivatives, and the ration card, these trends have continued in the 2007 budget, since support was lifted once the oil derivatives in light of repeated crises stifling and the level distribution and abundance in all governorates the country, as well as the lack of an appropriate and clear signs of investment in the oil sector help to alleviate the crisis, and this means a big increase in the prices of derivatives decreasing Iraq during the months of this year if not accompanied by the decision to lift support bold and intense negotiations with the International Monetary Fund so that we can assess the Least the postponement of the lifting of fuel prices, because that will reflect directly on the poor and disadvantaged are not able to deal with the black market, leading to a severe crisis afflicting the country, and the situation falls on the rest of the support and trying to alleviate the problem of unemployment and poverty which had not yet appropriate remedies in the framework of a national strategy adopted by the state budget.