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

Originally Posted by DayDream

To spur officials to spend their capital budgets quickly, the GOI has declared that any ministry that does not spend 75% of the portion of its capital budget it has been allotted by June will forfeit the money for reapportionment by the Ministers of Finance and Planning.

What is Iraq doing with its own money

Cheers!
DayDream

... Thus leaving every ministry to operate the second half of their year with only 25% of their original capital budget. If nothing else, that is interesting bit of news. Thanks for sharing, DD...

Statement : Iraqi Presidential Council examines activate powers

(صوت العراق) - 08-05-2007

(Voice of Iraq) - 08-05-2007

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Statement : Iraqi Presidential Council examines activate its constitutional powers

BAGHDAD (Reuters) - A statement issued by the office of Iraqi President Jalal Talabani that the members of the Iraqi presidency agreed on Tuesday to activate the commitments made by political actors blocs such as the formation of the government of Prime Minister Nuri al-Maliki in addition to activating the powers of the Constitutional Council.

The statement said that the Presidential Council met on Tuesday in the office of President Jalal Talabani and dialogue was "serious and frank focus on how to activate the resolutions agreed upon before the formation of the current government."

"The statement added that the Council members also agreed "to activate the constitutional powers of the presidency in coordination with the prime minister and to ensure the contribution of the contribution of actors in decisions concerning the management of the state."

The Council presidency in addition to President Talabani of the deputies Adel Abdel Mahdi and Tariq Al-Hashmi.

Accuses compatibility list Shiite bloc, which occupies most of the seats in Parliament and the government not to implement the commitments that have been agreed upon, such as the formation of the government and participate in the process of decision-making and political, security, and achieve balance in governmental institutions and security.

"The statement said that a number of issues discussed at the meeting "for the security file and the other members of the Presidency later to hold another meeting in the near future to follow up on those issues."

The meeting comes in a series of attempts by Iraqi political leaders aimed at derailing the political process in Iraq crisis with the following list of threats by the Sunni Iraqi Accord to withdraw from the government in case of failure to respond to implement commitments made political blocs such as the formation of the government.

The previous meeting was held on Monday Hashemi annexation with Prime Minister Nuri al-Maliki discussed the ways to ensure the continuation of the parties political process and push it forward.

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

U.S. TO SELL AMMO TO IRAQ


WASHINGTON [MENL] -- The United States plans to sell more than $500 million worth of ammunition and military equipment to Iraq.

The Bush administration has approved an Iraqi request to sell light arms munitions, grenades, explosives and military equipment to the Iraq Army and police. The Defense Department has informed Congress of the proposed sale, which was not expected to be opposed by either the House or Senate.

Under the proposal, Iraq would receive 400 million rounds of small arms ammunition, 170,000 grenades, demolition explosives and other military gear and services. Officials said the value of the sale was reported at $508 million.

"This proposed sale directly supports the Iraqi government and serves the interests of the Iraqi people and the U.S., as well as offering hope for a more stable and peaceful Middle East," the Defense Security Cooperation Agency said on May 4.

I can't figure out what this article is saying but, dang I think its saying something! Its mostly about the 2007 Budget and the value of the dinar. Can anyone make heads or tails out of it? I know the last paragraph is talking about the Marshall Plan for Germany! I'll just post the link as this is a long article for those interested.

What do you know about illusion, deception cash?

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Cheers!
DayDream

Active Traders Put Oil Prices, Interest Rates and Inflation Ahead of Iraq Policy as Key Market Triggers in TradeKing Survey

BOCA RATON, Fla., May 8 /PRNewswire/ -- According to a late April survey of 500 U.S. equity and options traders conducted by online broker dealer TradeKing, active traders are keeping a keen eye on oil prices and alternative energy along with interest rates and inflation as potential trading triggers heading into summer months (1). Oil prices and alternative energy topped both options and equity traders' lists of market triggers to watch over the next three months, ahead of other high-profile issues such as the housing market, the impending U.S. presidential race and the U.S. policy on the war in Iraq.

The in-house survey was conducted April 24 - May 1, 2007, via email to 4,500 TradeKing clients, with an estimated 95% confidence level. The survey results have been segmented into two distinct client groups: "options only" traders and "equities only" traders.

The survey responses revealed 88 percent of options traders and 79 percent of equity traders considered oil prices and alternative energy a "potential trade trigger" or a trend worth "monitoring actively." This was followed closely by "interest rate changes" (85 percent among options traders and 79 percent among equity traders) and "evidence of inflation" (86 percent of options traders, 72 percent of equities traders).

"Investors in the TradeKing community are very savvy about tracking near- term market opportunities on both the equities and options side of the house," said Donato Montanaro, Jr., CEO of TradeKing. "Calling to mind the all-time highs of last summer's oil prices, active traders understand how this could create an environment of added volatility as we enter key travel months."

Montanaro added, "On a somewhat surprising note, the survey also indicated that 'jitters in foreign markets' are still a concern even in light of the U.S. market's recent strength, indicating traders are not quick to forget the recent havoc caused by extreme fluctuations in overseas exchanges and they're keeping that factor high on their radar."

Seventy-three percent of options traders and 67 percent of equities traders reported "jitters in foreign markets" as a potential trade trigger or worth monitoring actively. These foreign market concerns, however, contrasted with a lack of trader interest in the "policy on the war in Iraq." As a potential trade trigger, Iraq policy ranked last for equity traders (8%) and second-to-last for options traders (12%), which was closely ranked at the bottom with the "upcoming 2008 presidential elections" (13% for equity traders, 12% for options traders).

Iraq to submit constitution reform draft next week
By Waleed Ibrahim
Reuters
BAGHDAD


Members of a committee set up to reform Iraq's constitution said on Tuesday they hoped to submit recommendations to parliament next week, a major step towards meeting a political benchmark Washington has set for Baghdad.

The announcement comes amid growing U.S. impatience at Shi'ite Prime Minister Nuri al-Maliki's progress in implementing power-sharing agreements the United States says are key to reining in sectarian violence in Iraq.

Leaders from the Sunni Arab minority have in recent days renewed threats to quit Maliki's government because they believe Sunni concerns are not being addressed.

Dominant under Saddam Hussein -- ousted by the 2003 U.S.-led invasion -- Sunni Arabs saw the majority Shi'ites sweep to power in elections and have been demanding reforms as a condition for staying in government, including overhauling a constitution they fear will split Iraq into Sunni, Shi'ite and Kurdish federations to the disadvantage of Sunnis.

Washington, which says Sunni Arab participation in government is key to taming the Sunni-led insurgency, has stepped up pressure on Maliki to reach power-sharing agreements by September.

Under Iraq's first post-Saddam constitution, a committee charged with drafting constitutional reform proposals must submit its recommendations to parliament no later than four months after it began work.

The 31-seat committee, which includes Shi'ites, Sunni Arabs and ethnic Kurds, started work on November 15, 2006. Because parliament recessed in January and February, the deadline falls on May 15, committee members said on Tuesday.

"May 15 is a deadline and we must deliver the reform drafts to the parliament by this date," Hasan al-Senaid, a committee member from the ruling Shi'ite Alliance, told Reuters.

"There are still some disputes between groups and they are all under discussion. We are trying to solve these disputes this week," Senaid said. Another committee member confirmed they hoped to submit the recommendations by next week.

Iraq's constitution was ratified in 2005. Shi'ites and Kurds voted overwhelmingly in favor while Sunni Arabs opposed it.

Among the most controversial articles are a law that allows provinces to win autonomy from Baghdad and form federal regions, the Arab identity of Iraq and rolling back a ban on former members of Saddam's Baath party from public office.

Sunnis fear federalism will allow ethnic Kurds in the north and Shi'ites in the south, where Iraq's oil reserves lie, to break away into their own states, sealing political doom for the Sunni Arabs.

Non-Arab Kurds, who were persecuted under Saddam's pan-Arab policies, have resisted wording on the Arab identity of Iraq.

Parliament, where Shi'ites have a majority, must approve any constitutional amendment by an absolute majority before a referendum takes place.

If rejected by a two-thirds majority in three of Iraq's 18 provinces, the constitutional amendment is automatically defeated, thus giving minority Kurds de facto veto power.



Copyright 2007 Reuters News Service. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Copyright © 2007 ABC News Internet Ventures

Pentagon tells 35,000: Prepare to deploy
By LOLITA C. BALDOR
Associated Press Writer


WASHINGTON (AP) -- The Pentagon has notified more than 35,000 Army soldiers to be prepared to deploy to Iraq beginning this fall, a move that would allow commanders to maintain the ongoing buildup of troops through the end of the year if needed.

Pentagon spokesman Bryan Whitman said Tuesday the deployment orders, which have been signed by Defense Secretary Robert Gates, do not mean that the military has made a decision to keep the increased level of 20 brigades in Iraq through December. A brigade is roughly 3,500 soldiers.

Instead, he said the decision gives the Pentagon the "capability" to carry the buildup to the end of the year. The replacement forces, Whitman said, would give commanders in Iraq the flexibility they need to complete the mission there.

The announcement, said Whitman, has "nothing to do" with a decision to extend the troop buildup. He said the Pentagon "has been very clear that a decision about the duration of the surge will depend on conditions on the ground."

Early this year, President Bush ordered close to 30,000 additional troops to Iraq to quell the spiking violence particularly in and around Baghdad. Gates and his military leaders have said that commanders in Iraq will make recommendations in September on whether the buildup has been successful, and whether it should continue or if troops can begin coming home.

There has been increasing pressure from Congress and the American public to begin withdrawing troops from Iraq. Bush vetoed the $124.2 billion legislation that would have funded the war but which called for troops to start coming home this fall, and lawmakers are currently crafting a compromise bill.

According to the Army, the combat brigades would deploy for up to 15 months. The Army also said that close to 1,000 additional support troops from the U.S. Army Reserves would also deploy in August. Those would come from two units, an engineer battalion from Fort Thomas, Ky., and a signal battalion from Fort Huachuca, Az.

The 10 brigades are: the 2nd Stryker Cavalry Regiment in Germany; the 4th Brigade, 3rd Infantry Division from Fort Stewart, Ga.; the 1st, 2nd and 3rd Brigades of the 101st Airborne Division from Fort Campbell, Ky.; the 3rd Armored Calvary Regiment from Fort Hood, Texas; the 2nd Brigade, 1st Armored from Germany; 4th Brigade, 10th Mountain Division from Fort Polk, La.; 2nd Brigade, 25th Infantry Division from Hawaii; and the 1st Brigade, 4th Infantry Division from Fort Hood, Tx.

September may be key in Iraq funding
Published: May 8, 2007 at 7:15 AM
WASHINGTON, May 8 (UPI) -- Leaders of the U.S. Congress said they will be looking for progress in the war in Iraq from President George Bush by September.
"September is the key," Rep. James P. Moran Jr., D-Va., a member of the House Appropriations subcommittee that funds defense, told the Washington Post. "If we don't see a light at the end of the tunnel, September is going to be a very bleak month for this administration."

The commander of the U.S. troops in Iraq, Gen. David H. Petraeus, has said he should know by September whether the ongoing security operation in Iraq is aiding reconciliation efforts.

With a new fiscal year beginning Oct. 1, Congress will likely consider placing new conditions on funding the war in the fall if no progress is evident.

"Many of my Republican colleagues have been promised they will get a straight story on the surge by September," Sen. Gordon Smith, R-Ore., told the Post. "I won't be the only Republican, or one of two Republicans, demanding a change in our disposition of troops in Iraq at that point. That is very clear to me."

Chevron seen settling probe of Iraqi oil deals: report

08 May 2007 (AFP)

US energy giant Chevron is preparing to settle a government probe into kickbacks under the now-defunct oil-for-food UN program for Iraq.

The New York Times said the US oil giant was to make an acknowledgement that it should have known about kickbacks on its Iraqi oil purchases, as part of an expected agreement with US prosecutors likely to include fines of up to 30 million dollars.

The California-headquartered firm, America's second largest oil group, could not be reached for comment by AFP.

An official for the US Attorney's Office for the Southern District of New York, which the Times said was involved in the probe, declined to comment.

The newspaper said the probe relates to tens of millions of barrels of Iraqi oil that Chevron purchased between 2000 and 2002 under the former United Nations oil-for-food program.

Under the UN program, which ran from 1996 until just after the US-led invasion that ousted Saddam Hussein in March 2003, Iraq was allowed to sell oil and use the revenues to purchase humanitarian supplies.

Citing government investigators and uncovered documents, the Times said about 20 million dollars in "surcharges" were paid on Iraqi oil shipments bought by Chevron.

Chevron reportedly purchased much of the Iraqi oil it bought during this time through intermediaries, which included small oil traders.

US energy group El Paso Corp. agreed in early February to pay 7.7 million dollars in penalties related to illegal surcharges on Iraqi oil contracts under the UN program. El Paso agreed to pay the penalties without admitting or denying any wrongdoing.

Government investigators claimed that El Paso indirectly funneled 5.5 million dollars in "illegal surcharges" to Iraq related to oil purchases from third parties.

The Times report added that Chevron was still in negotiations with the government and that a final agreement could still be weeks away.

Iraqi army thwarts attempt to blow up western Mosul oil pipeline
By Numeir Horan

Mosul, 08 May 2007 (Voices of Iraq)

Iraqi army forces foiled an attempt to blow up the western Mosul pipeline that carries oil to Turkey and managed to arrest four suspected saboteurs, a military source said.

The Iraqi army's 3rd Division forces "found during the early hours of Monday 350 kg of TNT laid under the pipeline that carries oil to Turkey in the area of al-Kasak, northwestern Ninawa province," the division's media official, Capt. Mohammed Ahmed al-Zibari, told the independent news agency Voices of Iraq (VOI).

Zibari pointed out that the forces arrested four people suspected of attempting to detonate the pipeline in al-Kasak, 35 km west of Mosul, declining to reveal their identity.