Thread: Iraq/Dinar News until 5/23/07 Midnight CST

India, Iraq business chambers sign three MoUs New Delhi, May 23, IRNA
India-Iraq-MoUs

In a bid to kickstart the Indo-Iraqi Business-to-Business (B2B) ties, Federation of Indian Chamber of Commerce and Industry (FICCI) on Wednesday signed memoranda of understanding (MoUs) with three leading Iraqi chambers -- International Union of Businessmen in Iraq, Iraqi Trade Chamber Management Council and Iraqi Businessmen Union.

The MoUs were signed by Saket Mehra, co-chairman, India-Iraq Joint Business Council (JBC) on behalf of FICCI and Abdul Hameed Al-Ukaby, chairman, International Union of Businessmen in Iraq, Firas Al Hamadani of Iraqi Trade Chamber Management Council and Abdul Hussein J Rasheed Mubarka of Iraqi Businessmen Union.

The MoUs envisage encouragement and facilitation of contracts and other commercial and economic cooperation agreements between companies from both countries authorized to initiate foreign trade and international economic cooperation.

Apart from undertaking complete market and publicity studies, the respective chambers of the two countries would provide the necessary support to companies participating in trade fairs and exhibition organized in Iraq and India.

Addressing an interactive meeting of Indian industry leaders with the official-cum-business delegation from Iraq organized by FICCI, Haifa A Hamid Al Kharadagi, director general (investment), Ministry of Industry, Iraq, invited Indian investors to participate in the rehabilitation projects identified by the Iraqi government.

Kharadagi said the new investment law framed by the Iraqi government gives wide-ranging guarantees to foreign investors. Iraq, she said, was looking for Indian partners for production sharing and management contracts in areas such as oil, industry, electricity and trade.

GCC central banks committed to monetary union despite developments

ECO-GCC-NBK-CLOSING
GCC central banks committed to monetary union despite developments
(With ECO-GCC-NBK-SESSIONS) KUWAIT, May 23 (KUNA) -- Gulf Cooperation Council (GCC) central banks said the unified currency and monetary union will be adopted in 2010 despite Oman's withdrawal and Kuwait's canceling its peg with the US Dollar.

In the closing session of the 8th GCC Banking Conference on Wednesday, Governor of Saudi Arabian Monetary Agency (SAMA) Hamad Al-Sayari said the council's nations were committed to the goals.

He added that even after Kuwait's decision to cancel the peg with the US Dollar, the nations were committed to continuing their discount policies in light of linking their currencies with the dollar.

On his part, Governor of Central Bank of Kuwait (CBK) Sheikh Salem Abdul-aziz Al-Sabah said his nation is fully committed to the currency and union.

Kuwait's decision to abort pegging with the USD and be linked with a basket of currencies will have positive results, such as decreasing inflation rates especially that Kuwait relies greatly on imports, he explained.

Executive President of Central Bank of Oman Hamood Saqoor Al-Zadjali said the decision not to partake in the currency's adoption was taken in view of Oman's current development plan and a number of arising developments.

Oman will reconsider the matter when the currency is circulated, he noted.

GCC nations are committed to the timetable to launch their monetary union and unified currency in 2010, said Al-Sayari.

The current shortage of time, he said, requires exceptional efforts to achieve meet the objective, noting that any change in the date of launching the currency has to come from a GCC summit.

Having kicked off on Tuesday, the two-day forum was under the patronage of H.H. Kuwaiti Premier Sheikh Nasser Al-Mohammad Al-Ahmad Al-Sabah. Participants include local, regional, and international political and economic figures.

Themed "Managing Growth and Risk in an Era of Openness," the event was organized by the National Bank of Kuwait, CBK and GCC Secretariat General.
(end)
kt

KUNA 231501 May 07NNNN

Kuna site|Story page|GCC central banks committed to monetary union desp...5/23/2007

Mustang Sally, thanks for that news article. Here's a similar or exact one but a little longer.

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Leading Indian business chamber signs MoUs with three Iraqi industry ECO-INDIA-IRAQ
Leading Indian business chamber signs MoUs with three Iraqi industry
chambers NEW DELHI, May 23 (KUNA) -- In a bid to kickstart the Indo-Iraqi business-to-business ties, leading business chamber Federation of Indian Chambder of Commerce and Industry (FICCI) Wednesday signed Memoranda of Understanding (MoUs) with three leading Iraqi chambers - International Union of Businessmen in Iraq, Iraqi Trade Chamber Management Council and Iraqi Businessmen Union.

The MoUs were signed here today by Saket Mehra, Co-Chairman, India-Iraq Joint Business Council (JBC) on behalf of FICCI and Abdul Hameed Al-Ukaby, Chairman, International Union of Businessmen in Iraq, Firas Al Hamadani of Iraqi Trade Chamber Management Council and Abdul Hussein J Rasheed Mubarka of Iraqi Businessmen Union.

The MoUs envisage encouragement and facilitation of contracts and other commercial and economic cooperation agreements between companies from both countries authorised to initiate foreign trade and international economic cooperation. Apart from undertaking complete market and publicity studies, the respective chambers of the two countries would provide the necessary support to companies participating in trade fairs and exhibition organized in Iraq and India.

Addressing an interactive meeting of Indian industry leaders with the official cum business delegation from Iraq organized by FICCI, after the signing-in ceremony, Haifa A Hamid Al Kharadagi, Director General (Investment), Ministry of Industry, Iraq, invited Indian investors to participate in the rehabilitation projects identified by the Iraqi government. Kharadagi said the new investment law framed by the Iraqi government gives wide-ranging guarantees to foreign investors. Iraq, she said, was looking for Indian partners for production sharing and management contracts in areas such as oil, industry, electricity and trade.

According to the new investment law of Iraq, the investor shall have the right to take out the capital he brought into Iraq and its proceeds in accordance with the provision of this law and pursuant to the instructions of the Central Bank of Iraq in an exchangeable currency after paying all his taxes and debts to the Iraqi Government and all other authorities, she said, adding, "the foreign investor shall have the right to exchange shares and bonds listed in the Iraqi Stock Exchange and form investment portfolios in shares and bonds." (end) dr.bz.


KUNA 231612 May 07NNNN

Kuna site|Story page|Leading Indian business chamber signs MoUs with th...5/23/2007

Ministers pledge to the Iraqi government

Baghdad-Sabah.

Ministers decided to continue the existing Iraqi government of national unity even though the President existing Dr. Iyad Allawi to withdraw from the government and parliament. Transfer reliable source that these ministers will continue their work in the government of Mr. Nouri Al-Maliki

Without indifference to the call may launch Dr. Allawi to withdraw from the political process ran according to information from a meeting with him in Amman last week.

The news reports that Dr. Iyad Allawi said during the meeting lasted for days XVII, XVIII and XIX of this May that it might resort to the withdrawal of its list from the government and possibly parliament in a step described by observers as part of an attempt (coup) to change the government of national unity.
The source who requested anonymity told (morning) : he felt fully confident of a number of existing Iraqi ministers that they will not respond to a request to withdraw from the government. The position of the ministers with the views of many members of the House who Astejnoa call for a coup, adding that this exceeded the constitutional referendum and said in interviews l (Sabah) yesterday : that this attempt to drag the country into civil war.
According to the source, the existing Iraqi ministers emphasized that Iraq's interest will remain above partisan considerations and political conflicts.
It is noteworthy that the Iraqi List Astusert Mohammed Tawfik Allawi's contacts and minds Mikhail human rights and Muhammad Abbas Aribi one of the Ministries of State and Hashim Shebli (resigned) of justice.

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

the government of national unity had succeeded in test


Maliki : reconciliation ahead and civil war behind us now

Baghdad-Sabah.

After the success of the government of national unity in removing the specter of civil war and extinguish the flames sectarian sedition which tried enemies of Iraq ignited during its first year, Prime Minister Nuri al-Maliki attention towards the goal


Within its second success in the draft reconciliation and national dialogue as a first step with the beginning of the second year of the work of the government that emerged from the constitutional legitimacy of the elections, in his speech to mark the year. The bet most politicians and interested observers in the Iraqi issue on the government's success in achieving its objectives, with the starting point to the success of preventing Iraq from sliding into civil war, the Prime Minister described in his speech yesterday that it might be the dirtiest of wars throughout history.


Mr. al-Maliki said in a speech given on the occasion of the anniversary of the formation of a government of national unity : that 2006 was a real test of the will of the government and people, setting everyone at a crossroads, either to keep Iraq united and cohesive in the social fabric, or plunging into a sectarian war, are some of the dirtiest wars throughout history.

He added Maliki said in his speech : that Iraq succeeded in overcoming risk sectarian war after the bombing of the tombs of the two Imams, the military, those ugly crime carried out by Altkeverion and their allies from the henchmen of the regime, stressing that the sectarian war that was threatening national unity is now behind us.

He added : The past year also saw the end of the dictator and his hateful drag the country into wars and reckless adventure, the dark era that most people have experienced tragedies and pain, and the hundreds of thousands of martyrs in prisons and detention centers, Anfal and Halabja and the mass graves, I was irrevocably one-party rule and one community leader and necessary approach, discrimination, exclusion and marginalization.


He stressed : that success in overcoming sectarian war and the end of the dictator did not come without sacrifice, as Iraqis hemorrhaging blood and tears, invoked and faced many difficulties, and they are paying a heavy price today in the face of terror, which is the price paid by the Iraqis over thirty five years, The road to freedom, justice, democracy and equality can only be difficult and arduous. Turning Prime Minister during his speech to a draft national reconciliation launched by the government at the beginning of the age, saying : "Since the first day of formation of a government of national unity, which I was privileged to chair, an initiative of reconciliation and national dialogue, No announcement of the initiative stems from the accounts of political, partisan or sectarian, but departed from the strategic vision to rebuild the state and consecrate the culture of dialogue, tolerance and discard differences side to turn a page.


He stressed that the government created through the initiative of national reconciliation groundwork for constitutional amendments where the authority of law is the chapter by submitting a draft accountability and justice to the House.

He added Maliki : that the bill ensures accountability and justice, human martyrs and differentiate between the tarnished their hands the blood of the innocent is forced to belong to the Baath Party is dissolved, bill provides a legal framework and fair accounting and turning a page in the bloody past, stressing at the same time : that law, which the government wants a governor does not mean lenient with criminals and Baathists wasting human martyrs and prisoners, but the realization of the right and rehabilitation of all those who were subjected to injustice and tyranny and oppression.


Mr. Maliki promised that the draft reconciliation strongest weapon in the fight against terrorism, calling clan elders and civil society organizations to form the National Salvation councils in all governorates in the country and to stand up for the armed forces to eliminate the scourge of terrorism, which targets the whole of Iraq, stating : The terrorists are destroying infrastructure and killing of teachers, doctors, engineers and construction workers, journalists, athletes, artists, as well as women and children also targeted mosques, churches, universities and blind hatred Affects milestones Baghdad historical, civil and cultural rights, stressing that the battle with terrorism and open long, and one thinks that this battle will end today or tomorrow. security challenges facing Iraqna Aziz extremely serious. The Prime Minister pledged to disclose groups and political figures involved in fueling terrorist acts, pointing out that today, which reveals the involvement of these will come soon, The government will not hesitate to expose the destructive role played by some regional and international parties that are not pleased to see a strong Iraq lived experiment in democracy and determined to establish a state of institutions.


And Mr. Maliki : that the Iraqi armed forces and security apparatus are in the process of completing preparations for the assumption of full security responsibility and keeping files in the whole country, explaining : The plan to impose law, which entered the fourth month is complementary professional plan to be implemented in phases and it Atstahedv any component Autaeva specific as to protect the citizens and open war with the terrorists and achieved significant results led to the undermining of sectarian violence to a large extent.

In the economic aspect, the Prime Minister : The government managed in cooperation with the parliament to ratify the draft law on investment, which is a very significant step on the road to develop the economy and rebuild the shattered infrastructure and provide opportunities for the unemployed. The government approved the largest budget in the country's history has been an important part of the allocation for the reconstruction, rebuilding, as well as the oil bill presented by the government to parliament for validation, which is a qualitative leap in the process of construction and development of the oil industry and to achieve justice in the distribution of wealth and promote the unity and sovereignty of Iraq

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

Originally Posted by JudasPriest

Still on 1260 eh? Looks like it will stay that way for a while or until they implement the budget.

Wrong as usual! 1259 5/23/07

Parliament on the table

Mr. President of the Iraqi Parliament, Dr. Mahmoud Almchidani esteemed.

Members of the Iraqi Parliament respectable.

Greetings and appreciation

We retirees Salah Al Din, and the surrounding regencies, civilians and soldiers like you and all members of the Iraqi parliament thanks and gratitude and appreciation and respect for your confirmation Retirement Law

Standard No. 27 of 2006 and acknowledging the full voting members of Parliament who are consequences for all Iraqis, and defenders of rights of the Iraqi people and the best proof of that Bemsadeghtkm to this law from the date of issuance in 2006/1/17 and retroactively this and hope you follow up the implementation of this law with the Prime Minister and the Finance Ministry in order to support the families retirees and their families since tried tried to differentiate between the retired veterans and retirees who brought new items according to the law and according to their whims and reasoning and that differentiating between the people of this nation and stand against those retirees who stands up to more than five million and a half homeless themselves and for their families, all voted for the constitution in such difficult circumstances arrived from the PA and the ministry vote and the votes of other members of the society.

We have put some obstacles in the path of mainstream interest of the law, and if they pay the salaries of retirees and their own pocketbooks and their homes note and as you know this is their legal status in the Constitution and the legitimate right, but they forgot the privileges and huge salaries and benefits as well as the special privileges they had obtained other, as well as travel expenses very high and continuing along this month from the blood of people miserable and a time when we ask you to follow up on this matter with the Cabinet we would like to point out here that Mr. Prime Minister Nuri al-Maliki man Professor Cherif, fair and zealous everyone Iraqis without discrimination or differentiation between a range of other, we in Tikrit is the sincerest personal free in Iraq since Abdullah Karim Qassem, the prime minister in Iraq and he also resembles the national men loyal to Iraq, which did not happen in Iraq (one inch theirs).

We call on Mr. Prime Minister and instruct emphasis on the Ministry of Finance to accelerate the application of the law as soon as possible and pay all the differentials to all retirees, as the salaries of their peers currently in service and without any manipulation of the rights of the people oppressed, so from the date of the law in 2006/1/17 and retroactively and thank position Member of Parliament Mr. (Sunaid) to discuss its position in the common law of retirement and put embrace all retired old and new and big among the Iraqi people in their rights and duties and their equal rights as stipulated in the new Constitution, which guarantees the rights of every citizen and person Iraqis without discrimination in religion and race and creed.

Where we received information confirming that the Ministry of Finance is delaying the interpretation of the law according to its discretion, demanding a mechanism for the application of the law to contribute to the usefulness of this considerable segment of the community after a long time of deprivation and hunger.

We say to those who want our Understating : Take our hands will not push people to the problems of access to their rights and their pensions will be sorry that stands in front of the will of this people and talented people to a crisis situation and to create sedition rejoices by murderers and criminals at home and abroad, Pay to retirees their full rights and Ansavoa people at the earliest and without procrastination and as we passed since the date of the retirement law and common publication in the Official Gazette (Aliraqiya) in 2006/1/17 now await application and we ask quick answer our requests, and we are confident you and your kind, Mr. Speaker and members, Mr. President Mr. Minister and Finance Minister respectable May peace and God's mercy and blessings.

Signature

Retirees Salah Eddin / Tikrit and accessories from the district and sub-district and other villages of the province of Salah Eddin civilian and military.

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

Originally Posted by Hkp

Hi All, Is this news article old as it is from Iraqupdates site ? I know at times this site publishes articles that are 1 to 2 weeks old.

It states at the bottom of the Gulf Petrochemicals Conference on June 4th-5th 2007.

I thought that was changed to later part in September. Maybe it has changed again. I hope it has changed again for the fact that the HCL will be passed soon...Maybe they know something we don't....Hmmmmmmmmm

Please advise.

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New MEED rankings table for Middle East's national oil companies
Saudi Arabia, 23 May 2007 (AME Info FZ LLC)

Saudi Aramco is the Middle East's best-run national oil company (NOC), according to an exclusive analysis of the region's national oil companies carried out by the Middle East Economic Digest (MEED).

The study scored NOC's in ten key areas of activity, including commercial performance, downstream investment, freedom from political interference, commitment to staff training, and environmental protection. Scores out of ten were awarded under each of the criteria, with these then analysed to provide an overall company performance ranking.

Saudi Arabia's state oil company, Saudi Aramco, scored highest in a comprehensive survey of the region's ten biggest national oil companies carried out in early May. Combining statistical performance indicators with expert opinion from top industry executives in the public and private sector, leading analysts and senior academics, the survey put Aramco at the top with a score of 80 out of a possible 100.

MEED's editor-in-chief Sean Brierley commented,
'The Saudi oil giant has outperformed its regional counterparts in almost all categories. When it comes to production, technology development and commercial performance it is head and shoulders above the competition."
'Saudi Aramco falls short on just two measures - its effectiveness in partnering with other companies and its record on the environment. Time will tell whether they will replicate here, the other high standards they have set.'
The Abu Dhabi National Oil Company (ADNOC) and Qatar Petroleum were tied in second place with 73 points, and Algeria's Sonatrach and Petroleum Development Oman also scored well. However, the study went on to reveal that the region's other five major producers all failed to make the grade, with the national oil companies of Kuwait, Egypt and Iraq being the worst performers.

The top ten ranking list reads (scores out of 100):
Saudi Aramco 80/100
ADNOC (Abu Dhabi) 73/100
2. Qatar Petroleum 73/100
Sonatrach (Algeria) 63/100
Petroleum Development Oman 60/100
National Iran Oil Company 46/100
6. National Oil Corporation (Libya) 46/100
Egyptian General Petroleum Corporation 45/100
8. Iraq National Oil Company 45/100
8. Kuwait Petroleum Corporation 45/100

The study highlighted the crucial importance of political independence, quality of personnel and development of technology to the performance of state oil firms. All were notable failings in the worst-ranked companies.
It also drew attention to the challenge presented to international oil companies by the onset of an era in which national oil companies are expected to dominate. If the major foreign oil firms are to maintain their strategic position in the market, they too will need to adapt to the new environment.
The study is published in the latest issue of MEED (out in the Middle East on Sunday 20 May) and is available both in print and online versions.
It is published as MEED prepares to host the region's leading petrochemicals conference 'Gulf Petrochemicals 2007' at the Ritz Carlton, Bahrain Hotel & Spa, on 4th-5th June 2007.



New MEED rankings table for Middle East's national oil companies | Iraq Updates

im going to email the ritz carlton in bahrain to see if this is true, will let eveyone know when i get a response.

Iraq to auction oil, gas blocks once law passed
(Reuters)

23 May 2007



NEW DELHI - Iraq will auction 15 oil and gas assets once a new hydrocarbons law is passed, a top oil ministry official said on Wednesday during a trip to India, where he sought Indian interest to build new refineries.


“Iraq is preparing 15 fields and blocks for first round of auction after approval of the oil and gas law ... tenders are under preparation,” Fayadh Hassan Nima, director general at Iraq’s oil ministry, told reporters.

Oil multinationals are waiting until a new hydrocarbon law, which sets the rules of investment in Iraq, to be passed by the parliament before pumping cash into Iraq.

International oil firms are eyeing its giant and largely underdeveloped oilfields.

Nima said he expected the law to be finalised within “two to three months”.

Iraqi Oil Minister Hussain al-Shahristani said earlier this month all parties had agreed to pass the law by the end of May.

Oil is the country’s main source of the hard currency needed to rebuild its economy, and the energy sector is struggling to recover from years of mismanagement and sanctions.

Baghdad wants to build at least four new refineries to help it solve chronic fuel shortages.

Nima said in New Delhi, it was hoping Indian firms would build two of those refineries.

Iraq has eight oil refineries, none of which were damaged during the invasion. Oil officials say that the plants are operating at only 50 percent-75 percent of capacity, forcing Baghdad to import most of its fuel.

Iraqi Security Forces to Increase

Wednesday May 23, 2007 3:46 PM


By PAULINE JELINEK

Associated Press Writer

WASHINGTON (AP) - U.S and Iraqi officials are planning to again increase the number of Iraqi security forces to help quell violence in the country.

The review of the size of local forces comes as President Bush's new military-political team in Iraq - commander Gen. David Petraeus and U.S. Ambassador Ryan Crocker - is assessing how to go forward in the troubled four-year-old campaign.

Some 337,000 Iraqi police and soldiers had been trained and equipped as of May 9, according to Defense Department statistics. Officials hope to have the currently planned 365,000 in place by the end of the year, Brig. Gen. Michael Jones, deputy director for political-military affairs in the Middle East for the Joint Chiefs of Staff, told lawmakers Tuesday.

``I will tell you that force structure is under review by the Iraqi government,'' with the U.S. ``in advisory mode,'' he added. Jones said that an increase in forces cannot by itself win peace in Iraq, noting that political reconciliation and other progress is needed as well.

Training Iraqis to take over security for their own country has gone slower than U.S. officials expected and has been considered a key factor in when U.S. forces will be able to begin to withdraw.

A House Armed Services subcommittee called Pentagon officials to a hearing on Capitol Hill on Tuesday partly because the Defense Department has not responded to repeated requests for details about the training program, how readiness among Iraqis is assessed and so on, said committee chairman Rep. Marty Meehan, D-Mass.

The 337,000 already trained includes 143,000 in the Iraqi military and 194,000 police and others working in areas like highway patrol and forensics.

Because of problems like absenteeism and infiltration of Iraqi security forces by militants, Meehan said the numbers of those trained ``really doesn't tell us whether they're on duty, or whether they're capable, or it they're really insurgents or terrorists or sectarian militia.''

Officials have adjusted the size of the force a number of times, including last December, when Iraq's prime minister decided to add about 20,000 soldiers on top of a planned 325,000, to put more forces in the most heavily contested parts of the country.

``It is appropriate to constantly evaluate the security situation and the number of troops available to execute the missions,'' said Defense Department spokesman Bryan Whitman.

If Iraqis decide to increase the size of their forces again, it would not necessarily mean a longer stay for U.S. troops,

``Our presence there is based on the security situation on the ground,'' he said.

Defense Secretary Robert Gates and other senior administration officials have consistently said it's too early to know whether the troop buildup will achieve its stated goal of reducing sectarian violence in Baghdad to a level low enough to permit Iraqi political leaders to forge compromises to stabilize the country.

Petraeus, sent to Baghdad in February to implement his new counterinsurgency strategy, said in April that the new team was ``really just getting started with the new effort.'' He said he and Crocker, would come to Washington in the first or second week of September to offer their assessment.

Gates has said that so far there only has been ``conceptual thinking'' about an alternative strategy for Iraq, should the current approach be deemed a failure, rather than an actual contingency plan that could be put into action.