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

Economic : economic symposium at the University of Qadisiyah

Diwaniyah - Sabah.

Section Financial and Banking Studies at the Faculty of Management and Economics at the University of Qadisiyah scientific symposium specialized in directions of monetary and fiscal policy in Iraq.
The Globe Ala expert at the Ministry of Finance in search focused on the problem of monetary policy and its role in economic growth which confirmed that the State and for the siege of the phenomena of administrative and financial corruption plaguing the country, proceeded to give wider powers to provincial assemblies and other reconstruction projects in the proposal and immediate implementation without waiting for approval from the central government. He pointed out that the Iraqi government is serious in the search for appropriate solutions contribute to increased economic growth. In his intervention, the Head of a University of Qadisiyah. D. Imad Jeweler : that many committees and regulatory bodies but lead to the undermining of economic growth, calling for finding ways to contribute to the optimal increase the momentum of the Iraqi economy and speed up the reconstruction operations and maintain public money in ways that are transparent. The symposium focused on the search other models of monetary and financial policies in the world by D.. Nabil Mahdi al-Janabi from the University of Qadisiyah.

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Economic : demanding opening of the accounting firms in Basra

Basra-Sabah.

.Student chairman of the Economic Committee in the province of Basra activist Abdel dagger reopening of the accounting firms in the province through approached Society of Accountants and auditors and authorize the union supported the final accounts.
He said : The Committee discussed the instructions issued by the General Authority for taxes in Baghdad and prevent exchange of Merit contractors are Accountability taxation exclusively in Baghdad and granting powers only to managers in the branches walking clearance for the entry bids exclusively. He added dagger : "The body of the taxes which had been granted in 2006 the powers of the directors include the opening of branches of the accounting firms in the branches because of security conditions and f
or the purpose of facilitating the review of the citizen in the tax accounting" It is noteworthy that last year and in the light of the powers granted to branch managers saw the registration of more than 700 companies in Basra was opened branch Accounting firms and the amounts received and act as work began now flowing to the high exchange benefits contractors and pledges to companies according to the instructions issued from the body.

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HEAR YE HEAR YE!!!!!!!!
NOW HEAR THIS, NOW HEAR THIS
THE EXCHANGE RATE FOR THE IRAQI DINAR IS..........


Announcement No.(927)

D.G. of Foreign Exchange Control

The 927 daily currency auction was held in the Central Bank of Iraq day Sunday 2007/5/20 so the results were as follows :

Details Notes
Number of banks 15 -----
Auction price selling dinar / US $ 1260 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 45.210.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 45.210.000 -----
Total offers for selling (US $) ------ -----


THANK YOU

Well 1260 again......I personally think we will experience a highly energized end of the month.

Iraq oil law talks
Iraq: Saturday, May 19 - 2007 at 08:01
Iraq's Deputy Prime Minister Barham Saleh has said that the war-torn country's government was still debating the drafting of a new oil law according to the Dow Jones newswires. Saleh, speaking at the WEF in Jordan, said the government was still negotiating the 'four annexes of the law'.

USAID awards Inma Agribusiness Program in Iraq

The U.S. Agency for International Development (USAID) has awarded the contract for the Inma Agribusiness Program in Iraq to Louis Berger Group, Inc., a professional services firm based in New Jersey.

Morning economic : Oil counters


Sabah Economic
Insofar as the effects of the New York Times, which was published recently on the loss and wasting billions of dollars by smuggling oil out of Iraq; the uproar evident in the Iraqi street, it certainly falls within the United financial and administrative corruption, which precipitated by the Iraqi scene during the past four years and confirmed by the fact and the reasons articulated by the reports of local and international ..
The oil counters performing larger and more prominent by which the conduct of oil smuggling over the past four years, and raised crisis meters since the first half of 2004 when it was said to be non-expressive sound and did not operate according techniques minute technical applicable universally ... Repeated crisis meters more than once by the political views and said that American company will set those meters and will to seize meticulously .. The time unsuccessfully with the conduct of export and everyone knows how calculated quantities of oil exported in any way, synchronized crisis meters other cases where that smuggling operations in the oil sector began to give the American side importing oil derivatives on behalf of the Iraqi government and the accompanying reports rose to Alkonckers American high prices quantities imported compared to the prices prevailing in the global market as the effects of big uproar without timely treatment for this serious programmer, as well as the smuggling accusation particular political views with smuggling of oil, especially in the governorate of Basra and the accompanying conflicts administrative order to control the reins of sites of interest in the oil sector. Did not stop smuggling operations at this point but said press reports of the import of oil products is much less take other forms of smuggling Kthagab pipelines and oil-shipping lines and theft across and septic tanks and smuggled outside Iraq Menavedna across the border.
If the oil is the main source of support, and the only Iraqi economy at the present time, the suffering of the smuggling is alarming parents of this great national treasure here and requires the government to take a hard and determined to reduce smuggling, smugglers and perhaps in the forefront of the crisis meters, which have become the talk of the street American before the Iraqi street.

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Economic morning : an open letter to the chairman and members of the House of Representatives

The specifics of Iraqi oil and its impact on the proposed law

Tariq Shafiq

:The specifics of the Iraqi oil :
The specifics of the Iraqi oil is provided by the current and future cost and the lack of discovery and development and extraction. Ekdralahtiati firm limits 115 billion barrels, divided among about eighty villages located between product developers and semi-developers and developers, and between the cost of a small development of large and high-cost low. The reserve is estimated future Limits 215 billion barrels.
It traced the total estimated 330 billion barrels. Here it must be noted that the development firm could reserve capacity gradually from the current level of (2) million barrels per day to energy production rate (10) million barrels per day and sustain that rate for more than ten years, and then continue production for another ten years after the start declining gradually, without the need to explore new barrels from the reserve and a future. To be sure, today, Russia produces about 9.5 million barrels a day at a time where an estimated reserve Limits 74 billion barrels. That historic discovery commissioned for Iraqi oil is less than one cent per barrel, due to the high percentage of successful discoveries, , which represents the seven wells any exploration success in the discovery of oil out of every ten wells. This means that the risks of costly discovery virtually non-existent. The cost of development is about 2 - 1 dollar per barrel, and for years to come, while selling prices were about 60 dollars per barrel. Therefore, if we assume that lower prices to a lower level is 40 dollars per barrel in the coming years, the net profit will be encouraging direct investment.
لTherefore Maigal magnitude of the need for funding is excessive. هThis does not mean that Needless to bring in international companies, as the door would remain open for services evaporated companies to use advanced techniques through service contracts for the purpose of building the infrastructure and increase the productive capacity of the fields currently producing discovered fields and develop future-developed, in collaboration with direct investment by the Iraqi National Oil Company.
One of the most important petroleum industry in the privacy and abroad that affect us positively or negatively is multiple sources of production, both producers of the Middle East or the others were under the umbrella of Petroleum Exporting Countries or from outside. The increased consumption of the global market by one million barrels annually for many years in the not too distant past, today increased to the extent of 1.25 million barrels per day annually. Since OPEC quota of the world market to 40% of any Aitadi about 0.5 million barrels per day of the increase mentioned, therefore, expected to share space Iraq in the oil market will be counted only for a limited share of the OPEC quota. This confirms our conclusion that the above reserve firm enough to secure production for decades to come without the need for the use of contracts prospecting by international companies, both in the present time or for many years to come.
The oil assigned task for investors, but not the same degree of consumers. As you know, oil prices linked to each other and differ slightly for any consumer, according to the near or far from production centers, according to the quality of oil required. As that confidence factor and stability Ammermahm too high for consumers wishing to be assured durability source over the years, and because refineries consumption built on the basis of the properties of oil buyer and the conformity of the products needed for the domestic market. Add to that compete with producers and production systems disparity between producer and other direct production companies using global models prevailing contractual relations and its impact on the political and social thinking in the producing country.

A draft bill of oil and gas

We all know that the draft law Alakhirgaet outcome of debate in the ministerial committee, especially between representatives of the government of Kurdistan and the federal government, which lasted more than eight months because of principled positions radically divergent in interpreting the Constitution, which control the development of oil and gas. That interpretation of the government of Kurdistan, The location of a government closer to the Confederation and autonomy for a period of a decade and a half, is that the oil and gas in Kurdistan Homlk of the Kurdish people, while taking the first draft of the law (after investigating a neutral legal interpretation which applies, the prevailing interpretation) the principle that oil and gas is the property of the Iraqi people. To underscore paragraph was added : in all regions and provinces. To settle differences causes, it seems, he went Cess Act according to the principle of sharing adjustments made to the draft law which was first me and my brothers Thamer Ghadban, and Farouk denominator honor in preparation. As expected adjustments of quotas among the parties concerned, were not successful outcome from the perspective of the public interest of the Iraqi people as a whole. Sabine later.
إThese adjustments came as concessions by the government of Kurdistan on their constitutional rights as interpreted in the oil Kurdistan, which, as explained above, based on the grounds that the oil and gas in Kurdistan belongs to the Kurdish people. The first draft was built on the basis of the optimal management for the development of the petroleum industry, so as to ensure maximum benefits and imports of the Iraqi people, which says not a principle of cooperation and consultation between the federal government and provincial and district only, but also to participate in the planning, making and implementation phases in the exploration and development of discovered fields and infrastructure. The fact that the draft that had been written by us as professionals Iraqis - damaged, not diverted to any margin negotiated, therefore, produced above adjustments disorganization optimize and maximize the returns to the people whole. Those adjustments have changed course and how to take things in the resolution such as the adoption of basic rights for oil exploration, development and strategic policy and plans and platforms for action. They also failed to secure a oil policy or planning alternative efficiently meet the requirements of the Constitution, which requires management and policy Alastratsign to achieve maximum benefits and imports of all people, beginning with the Iraqi territories. It ended detail and clarification will put "Comments on the draft law ..
1.1. اBeginning : The amendments came proceeds of shares, as demonstrated by the nature of policies and tracks, past and present it serves parties Natasseh first, and often at the expense of the public interest.
2.2. These amendments violated and undermined the basic principle that brought him the first draft of the law, namely the commitment to the principle of unity of strategic policy and management by the federal government in cooperation and consultation with the regions and provinces so as to ensure maximum benefits and income for the whole people, according to the requirements of article 112 of the Constitution. .Note that the first draft referred to went further cooperation and consultation, but to participate in the making and implementation.
3.3. Some modifications codified language susceptible to more than one interpretation, and given decision-making powers of the Parties country track outside Central, in which all the parties concerned to cooperate or participate with the federal government, affects and weakens the principle of a unified central decisions, and the application of uniform policies and standardized curricula, in a manner characterized by balance guarantor of efficiency and transparency.
4.4. It must be considered to be the powers granted under the recent draft law on the territory of Kurdistan, it will grow horizontally spread to other provinces and regions, and vertically through the creation of multiple workshops held decision-making process and following up the implementation, as it was not compatible with the human potential and modern institutions lacking the necessary experience in the petroleum industry. This Sievers vulnerable in efficiency, accountability and transparency, let alone compete undisciplined and thus weaken the unity of the people and land.
5.5. Some resolutions critical example of the appointment of "operator" and approve plans to develop the discovered fields in the future of the Kurdistan regional inflicts has been entrusted, after the tasks of the Ministry of Oil and Adoption Center, despite recent experience of the Kurdistan region and the lack of regional and provincial which will do the same in the future, bearing in mind that the "operator" is responsible for the development and operation of the field Finder and sustain, which is not necessarily the same contracting company, at the time of eligibility mandated by recent federal institutions Center, and not to the province.
6.6. إThe initial approval for the rehabilitation of the companies bidding to enter exploration and Alttaiwierkd assigned territory, after the jurisdiction of the Ministry of Oil. The contracting and conditions contained in the contract negotiation Vmukul Model whereby the province, and then sent to the federal Center for approval or rejection. This may be rejected because the ineligibility of the company originally contracted. That is such an example of the overlapping jurisdictions. In this case may expose the government to compensate the company and other inconveniences are indispensable.
7.7. The course is the final decision and given specific in the first draft to the federal base its decisions on the advice of the elders and decide on the draft contracts human exploration and development of a competent body bids. The addition of the Territory of course take the decision and not the requirement that all submissions to the Federal Council on independent advisers before deciding which, in addition to other negative Touching has breached accountability and responsibility balanced and transparency required.
8.8. Requiring the Ministry of Oil Prospecting division of land to 65 units and the immediate implementation of granting human exploration and development of international companies is unprecedented in the oil industry. and because of the huge oil reserves should be developed first, and then rely on the systematic exploration and studied carefully and quantity required when draining the discovered fields to the extent that require discoveries For the premise of the need to compensate Masintj annually at the rate of three million barrels per day, for example, I mean, the need to use the tower drilling one exploration and one in the field within one year (this is confirmed within the possibilities of the date of the previous exploration), this is offset by the reserve, which produced one billion barrels in the year, as the rate of the terms oilfiled one in Iraq over one billion barrels. = Hence realize that the 65 units drill-down immediately for exploration contracts as stated in the draft law alleging need something to compensate for what retrieved annually argument seems flimsy and dangerous same time.
إ=That commitment contracts exploration and development of long-term, quantitative decision during a security crisis with severe acute political differences and foreign pressures is a matter devoid of wisdom and reason to confirm the view that the occupation of Iraq and toppling of the former regime that came only in the interests of Iraq's oil wealth.! Additionally, it is discovered must be developed without delay in order to recover the money invested, and oil will compete with the National Oil Company oil! Perhaps the size that was not consistent with the commitments of Iraq towards OPEC and at the expense of lower prices. On the other hand, long-term whenever depleted national oil increased Nfot foreign companies increased the state's reliance on imports from foreign firms, with all the attendant adverse consequences of the most important growing foreign influence and diminish the independence of the state economy.
9.9. اThe principle of curriculum development exploration and development on a geographical basis would mean development of small fields with costly at the expense of economic development and more lucrative, wide Iraq wider, comprehensive view of the unified development that takes large fields of the Wolf low first on the basis of technical and economic feasibility. It is difficult to justify this approach, especially after it approved the distribution of income on the total provincial and district elections.
10.10. اThat deducting 26 gas fields out of 80 discovered share of the National Oil Company is unconstitutional, if approved parties Natasseh true sense of the constitutional article 112, which called the term "field" on any discovered a geological formation in which oil or gas, regardless of whether the development, production had started it or not.
إIt is very unfortunate that we can deduce from the above review a draft law that the latter ambiguity and confusion not be successful in its application. ]It did not ensure maximum benefits and returns enshrined in the Constitution, as will become evident from the quick review of how Ktaptna the draft law first and the foundations and principles which we have adopted.

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Economic : construction materials company in Muthanna invites eligible to receive materials

Samawah-Hussein Mashkur

The General Company for Construction Materials Trading Branch Muthanna citizens eligible to receive their share of construction materials available to it ..

It was Hussein Abdel Majid Al-Azzawi director of the company's branch in Muthanna that the company warehouses full of construction materials needed by the citizens to build or repair the home .. Stressing that the company's branch in Muthanna are ready for the processing of citizens and contractors and construction companies all the material available to it in accordance with the instructions in force after the leave the building and bond ownership and road construction ..
Azawi urged citizens and companies and contractors who deal with the state to develop ages alike to review the company's branch in Samawah to outfit them with various construction materials available to it, such as iron and iron Kashi and industrial ceramics and wooden doors (internal and external)
اضافة الى أنابيب المياه وأطقم الحمامات .In addition to water pipes, crews baths. He Azawi that all these materials had been imported from the global origins were conducting specialized laboratory testing, which is sold at the company's branch at discounted prices and much lower than the market prices trade ..
He recognizes that the completion of treatment materials are not delayed more than one day from the date of the audit and there are no obstacles stand in references in the case provide the required holdings. He added the company's general manager for the trade of construction materials branch Muthanna that the company's branch continuous processing young newly-weds articles on the work of the bedrooms, such as wood and wood curbs opposite ordinary tin, and the opposite sheet ..
He urged newly-weds to make their transactions branch company that the date of the marriage contract beginning in 2005 and over.

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Economic : the (morning) in the economy

Abbas Algalbi

Not (Sabah) to achieve such presence is notable not for the impact of the media line to the recipient, the extent of their impact and harmony with the signs of different tendencies and inclinations.
As Raphael (morning) its fifth year, the family economic not far from this tenacity, but continued to keep up the process of economic transformation and changes in the Iraqi scene during the past four years .. ول..No Taal very highlight activities, programs and economic actors of government institutions and non-governmental organizations .. At this neutral approach in the presentation of information, analysis and the dismantling of its results, and hit on the other side citizen concerns and problems, which have become the most purely economic ... They tried effort possible to disseminate economic culture through the investigation .. The article .. The presentation .. The poll, the report .. And opened the door wide for economic stakeholders academic writing on the page economic. And balanced in the presentation of topics consistent with the transformation process from the Central Economic totalitarian controlled by the state with all its considerations to the so-called market economy taking into consideration addressing supply and analysis of all the problems and dilemmas that exist in the course of this process of transformation .. If there is one thing that must be mentioned, the hard work began this effort colleague Aziz (Yasser ascendant), which deal with the repercussions of this work, including his well-known patience and persistence and diligence .. Also this effort to join effort with all of our colleagues and Emad Hasan Al-Rubaie Principality Heidar spring finally culminate Supplement (Economic morning), who was one of insight (morning) new for this year.
While celebrate all this effort we are not quite sure we get to our male did not reach the lowest level of ambition that is going on in the hearts so that the coming days Stchdlamahal enormous economic transformation process at all levels and in various economic sectors, it undoubtedly requires an unusual rise to a level reflecting the anticipated the reconstruction and investment and therefore keep that require coherent Mtalubama reality. That did not come only by the multiplier, innovation and Bharvenh deal with the tide .. I believe that the elite working in the (Sabah Economic) capable of creativity and maintenance.

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