Thread: Iraq/Dinar News Until 5/31/2007 7:15 PM CST..

The economic event : the resurrection of the investors in securities
26.05.07
Baghdad / long

In Baghdad, the emergence of a consortium of investors Iraqis in the securities industry to work to address the crises facing transactions related shares came in the founding statement issued by the Federation :

A witness in the economic reality in Iraq acute crises, Given the number of incidents of self and circumstances and irresponsible practices of the various actors as well as the effects of the structural defects and should be responsible actions of the events from various governmental, academic and civil society organizations and private sector bodies to be brought together to address, highlighting the miserable situation had reached transactions related companies contributed the private and mixed sectors, as a result of imbalances which stemmed Walt mechanism irresponsible practices workshops parasitic forcibly hijacked on the market according to its interests, bearing and influence across an array of intermediaries to inflict the greatest damage in the prices of shares of companies including large proportion of them deteriorate to hit some more than 95 real prices.

With this phenomenon played by another role directly and indirectly involved in the degradation of the reality of the production and the activity and effectiveness of the remaining capacity of the other companies that helped to some extent to continue to endure.

Then added the statement, before this situation suspicious, which Ansay necessarily to hold Iraq market for securities of full dependence arrived for a case but we were waiting for procedures and preventive and curative it is to reduce damage in the least as previously Awak region that has taken similar actions leading role in the crisis eased, if not ended in cases less than in the Iraqi market which left rocked by crises implementation of the interests of a handful of middlemen and this dire situation Ashrtha several parties in the meetings and meetings of various parties including the government still follow up the problem and continue their abhorrence of poor performance-based and insist on the need to eradicate and accounting parties entrenched in aggravation.

Turning to his post in the European economic scene by saying : based on this fact and priorities lay face including constants and legislative mechanisms for secure transactions related stocks are also in the countries of the region and the world alike, including preserves arrow Iraqi interests Iraqi investors in the sector shareholders and sparing national wealth more losses, which reached hundreds of billions of dinars, collapsed array of investors for the establishment of a consortium of investors.

Iraqis in the sector shares take over the claim through all ways and means to find a legal contexts, fair and supportive of returning the real market value of the shares of Iraqi and hard work in coordination with the various organizations of civil society on all productive sectors as well as government institutions on all levels to follow the activities of the companies contributing segments private and mixed action to expose the imbalance and corruption with courage and strengthening of the proper functioning of some departments still fair and technical cadres and even unions .

Sincere confirm the credibility of the performance. We call upon our brothers the Iraqi investors in the securities industry to interact with the IFRC strive sincerely to the invitation to become the phenomenon of trading in the bourse Iraqi good example of honesty and transparency and work to have that practice civilization expressing the spirit of the market economy so as to enhance the economic march in Iraq does not hamper its inception as it is existing, so we will continue the effort to verify constants and legislation guaranteeing the safety and performance of each confrontation corrupt practices leading to market securities transactions related responsive to the safe, but covering markets throughout Iraq from the Kurdistan beloved.

Basrtna Faha dominated mechanisms circulation equitable to all parties and strengthens our national economy. welcoming friends and brothers in joining if we newborn to protect their interests and to safeguard their investments by image beneficiaries it in the wind.

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Shading another weapon to pass a draft bill oil
26.05.07

By : Hamza Jeweler

We have repeated on the tongue of more than one official, "that" criticizing the draft bill as currently oil is politically motivated and biased is not on a professional basis ""!

But which shows in Dubai, a symposium organized by the Chamber of Deputies to the Iraqi Petroleum technocrats who participated in the symposium, on the foundations of professional, has been finished to put many observations given in a report on the symposium Koran reader finds the following link :

Http://www.sotaliraq.com/Hamza-Al-Ja...icle.php?id=30

The remarks contained in this report all came from people on a high degree of professionalism and are far from politics, not insisting on the error and outbid national people and reduce them? Despite our respect to the positions of many doubters technocrats Iraqi national draft but differentiated tell them that you politicians, and we believe firmly that you present your defense on this draft overemphasizing human Iraqi people not serving the interests of your people, but serving the interests of global companies, the elite of politicians have an interest in this law, as it stands, any read it as a draft in February of this year.

Most of what is said these days about a draft bill that gives the oil company the National Oil fields containing 83% of the oil reserves in Iraq is certain, this big error does not imply only contempt for the people responsible for the ignorance of figures and oil generally, since those words very similar to reciting Koranic verse "Approach not prayer" without completing the rest of them to be completed on.

The story of these fields containing this figure correct, but not the whole truth, there is an important part of which exceeded by the plaintiffs in defense of the draft law unfair, as we knew in mid-February last, since these fields are discovered fields out of 114 have been installed geological exploration through the drilling exploratory wells, where oil had been found in 84 of them installed, and the rest is free of gas, where mostly contains gas, which now has a large these days is no less important than oil, what has been given to the National Oil Company is the only oil field 27, it is true that some of the giants is the biggest among the discovered fields. but this does not mean that we can say for sure that the other fields were found on the oil giant is not, the reason they did not complete the exploration, and some wells were dug and the only one, namely that the calculated quantities are not final, and in all cases more than the initial estimate them.

To me be clear, I give examples only what I mean, I was an eyewitness and participant on the field was discovered east of Baghdad was sagacious that ends in the east of Baghdad, and the quantity of oil it very modest, But after exploratory drilling and drilling more wells within the field are finding shows that field larger than the initial estimate several times and was more length and breadth of the image prior to the first exploratory drilling integrated therein. The second example is that the field crazy day began exploratory drilling it was believed that the modest oil reserves, but found after drilling this field tycoon by all standards and oil reserves it was discovered by ten times more than was anticipated before drilling.

In fact, Iraq has installed 524 geological could contain oil or gas or both at different layers of installation, and installation of the 114 we hear about are part of this great figure, which means that the remaining 410 Compositions installation, They discovered ways geophysical but not where excavation so far, so that injustice does not take such a large number of combinations into account. In fact, we also can conclude from the figures mentioned that the success rate access to oil in these fields up to slightly more than 73%, and that dividing the number 84 on the figure 114, any that is expected to obtain oil in more than 300 other oil field out of the remaining 410, which has not been exploratory drilling there.

The foregoing means that the National Oil Company after the founding of new accordance with the law will receive a number of fields, which contain oil are modest, any oil field 27 out of 84 oil fields discovered so far.

• If we dropped our fields of the 300, the proportion of the fields that are given is 32%.
• As if we are to take into account those fields in which we could get on the oil and which of us is 300 Oilfield, the share of national oil company will be about 7%, and the rest, ie, 93 hundred, who wishes to leave the Iraqi and international companies that are privately owned.

Note task in this regard, namely that we may discover from fields that have not completed exploratory drilling and those that have not been drilling and whose number is in the worst oil field to 370, we may discover, including a number of giant fields, as also evident from the examples mentioned above. Therefore, the remaining 7% is more realistic than any other No. add to that that this estimate according to statistics can be made because the number of very large fields.

Why must stop shading the general public, and even the elites, that the fields given to the National Oil Company representing 83% of the oil reserves, it is no more than 7% of the truth.

What reinforces these allegations that the National Oil Company took a large share of the fields is the position of others Alkordi clear of this issue, since this objection gives the impression of the ordinary listener that this is a definite while it is in fact a bubble God alone knows what the Sultan, because Alcord not indicate so far the reason behind this position, because they do not oppose the formation of the National Oil Company does not oppose granting the giant Kirkuk field, why take such a position? This is what we call clarified by the brothers Alcord.

And that makes things worse than what is said about the western region, which is called as sectarian discourse Arab Sunni region of Iraq, where it is said that it contains no oil! This is far from the truth and Shady public opinion is suspicious, since this region contains a very large number of fields discovered oil, and also contain much larger number of fields that have not been explored, and other areas which are not even geophysical survey. Since this rate, according to the estimates given in this issue of not less than 40% of Iraq's oil, but that makes man believed the axiom that "this region is the oil" is that the discovered fields have been developed, for reasons known only to policy development planners in the Ministry of Oil previously.

The issue of contracts for the production they were not mentioned in the draft, it is a great fallacy intended shaded public opinion, since the contracts "development and production" contracts "exploration and production" means the types of contracts for production, add to that a very important issue, if the company was granted the global contracts from these contracts, they will establish a small office of the Department of exploration, development and production dependent on service contracts, and here comes the question, if these companies can evolve fields relying on the service contracts, why could not the National Oil Company do the same? Perhaps somebody says claims that it can not do so does not possess the expertise to this kind of productive relations evolving issue very simplicity, which it grants companies specialized service contracts for the workers, which could not carry out the national company.

Not to insist on the awarding of contracts to participate production?
Why insist on such contracts unfair if there is no external pressure by the United States and the West in general to the government?

Mama to insist on these contracts if there is no domestic pressure by influential politicians want to grab the oil and shared with the Iraqi people?

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GCC leaders keen on integration, union -- Al-Atiyyah POL-GCC-ANNIVERSARY-ATIYYAH
GCC leaders keen on integration, union -- Al-Atiyyah
RIYADH, May 26 (KUNA) -- Marking the 26th anniversary of the foundation of the Gulf Cooperation Council, GCC Secretary General Abdulrahman Al-Atiyyah Saturday stressed the member states' leaders are all keen on the bloc's integration and unity to realize the set objectives.

Since establishment May 25, 1981, the leaders of the GCC states have worked on fulfilling the aspirations of their people and bolstering cooperation and coordination among their nations. This involved all security, military, economic, educational, cultural, social, health, legal, media-related, and youth and sports affairs, he said.

The secretary general expressed confidence joint action would bring in new accomplishments. He noted the leaders had in their ninth consultative meeting on May 15 set priorities with specific focus on accelerating economic integration and dealing with impediments to the GCC customs union's operations, in addition to dealing with requirements for launch of the GCC joint market, prior to the Muscat Summit this year end.

He added the leaders expressed their total support to all strategic integration projects like those involving power generation grids and railroads. The handling of issues on the joint GCC currency and monetary union is meanwhile going on schedule.

The leaders proved determination and keenness on joint action, Al-Atiyyah said, amid many challenges in the region; namely the ramifications of the instability of Iraq, Iran's nuclear dossier, and the state of affairs in the Palestinian territories, Lebanon, Sudan, and Somalia.

Rather than cause plans to fail, challenge served as further impetus and calls for more serious action and closer cooperation and better performance to serve the people of the GCC.

GCC Secretary General Abdulrahman Al-Atiyyah stressed again the council had much to deal with since its establishment and most pressingly in the last few years. Still, it managed to stay on track and is still seen as a bloc that sincerely serves the interest of the whole region, he noted.

Al-Atiyyah finally expressed appreciation and gratitude for the support the Gulf leaders extended to the bloc to enable it to meet its objectives and guide the people of the region to even more prosperity and boom.(end) ay.
wsa
KUNA 261154 May 07NNNN

Kuna site|Story page|GCC leaders keen on integration, union -- Al-Atiyy...5/26/2007

Iraq''s Parliament fails to agree on Coalition withdrawal issue POL-IRAQ-PARLIAMENT-COALITION
Iraq's Parliament fails to agree on Coalition withdrawal issue
BAGHDAD, May 26 (KUNA) -- Members of the Iraqi National Assembly (parliament) have failed on Saturday to agree upon a draft timetable for the withdrawal of the multi-national forces from the country. Only 144 MPs signed the draft, a parliamentary source told the Kuwait News Agency (KUNA) on Saturday.

Following a quarrel between a Kurdistan Alliance MP and the Parliament's chairmanship, the MPs from the Alliance and also from the United Iraqi Alliance withdrew from the session.

During the ordinary session 31, Parliament Speaker Mahmoud al-Mashhadani proposed the withdrawal draft timetable that was already signed by many MPs. The reaction was mixed.

MPs Bahaa Al-A'raji said that a joint committee had been formed from the Committee of Security and Defense, the Legal Committee and the Committee of Foreign Affairs to study the issue.

"Last week they concluded a proposal on the issue," he added.

Head of the Sadrist parliamentary bloc, MP Nassar Al Rubaii, referred to "proposing a withdrawal timetable as a historical event." MP Mahmoud Othman, warned against "a sudden withdrawal of the mutli-national forces." MP Ganan Al-Obeidai said that the extension issue rested with the Iraqi government for the absence of a relevant law.

There is urgent need for an integrated program and a favorable political climate before dispensing with the foreign forces, Hameed Majeed from the Iraqi Communist Party said .(end) mhg.
msa


KUNA 261839 May 07NNNN

Kuna site|Story page|Iraq''s Parliament fails to agree on Coalition wit...5/26/2007

Originally Posted by fredgwest1999

MENAFN - Khaleej Times) Iraqi membership in the World Trade Organisation would send a powerful message that the country has emerged from decades of international exclusion under Saddam Hussein and is on the path to economic development, its trade minister said yesterday.


Abed Falah Al Sudani told ambassadors meeting in Geneva for first discussions on Iraq's bid to enter the 150-member commerce body that "joining the WTO is an important step toward integration into the global trading system and restores its position with the international community after decades of isolation from the world," according to a copy of the statement obtained by The Associated Press.

Iraq applied for membership almost three years ago, and a WTO negotiating group was established in December 2004.

Membership isn't expected for years to come.

"We were very pleased with this meeting," U.S. Ambassador Peter Allgeier told The AP. "We look forward to working with the (Iraqi) delegation to make this a successful process."

WTO ambassadors from the European Union, Japan and other countries also asked questions of Iraqi officials presenting a 284-page report of its progress in harmonising its trading rules with international standards.

Trade officials stressed that the current security situation and political instability in Iraq means it is premature to talk about any timetable for accession.

The first meeting focused on political support for the Iraqi government, rather than the tough reforms it needs to make, officials said. "As you know, there is much to be done," Al Sudani conceded.

But he added that the Iraqi government was still able to generate economic growth over the last two years "despite the current circumstances Iraq is going through."

Since U.S.-led forces toppled Saddam's regime in 2003, the country has taken "rapid steps" to develop a market economy from a state-planned economy, boosting private enterprise, economic freedom, employment and free trade, Al Sudani said.

He said Iraq was hoping to gain the WTO's assistance in the transition.

"Iraq's membership in the WTO sends a positive signal to the people of Iraq that they are welcomed back and that the world really cares about their welfare," Al Sudani said.


MENAFN - Middle East North Africa . Financial Network News: Iraq begins process to join WTO


NOTE:

WTO SAYS:

Membership isn't expected for years to come.

US AMBASSADOR SAYS:

"We were very pleased with this meeting," U.S. Ambassador Peter Allgeier told The AP. "We look forward to working with the (Iraqi) delegation to make this a successful process."

WHAT DOES NOT MATCH UP HERE?

Yahoo had a similar article yesterday stating that it would be years.

I think this may be some timely misinformation; what was the name for this?

Originally Posted by DontDenyDatDinar

Yahoo had a similar article yesterday stating that it would be years.

I think this may be some timely misinformation; what was the name for this?

I beleive so too, i saw one today saying end of month i think for the agreement and july for implentation

ignore me, i was thinking of the oil, LOl but i did see quite a few articles saying they are pleased with teh progress and are looking forward to dealing with Iraq.....i didn't sense they meant years from now either.

Originally Posted by Lunar

Time for a break.....you're starting to believe these articles.

boy i about cant wait to see all the negative attitudes change in a blink of an eye.

and what is it that you are posting the articles for anyway if they arent meant to be read and interpreted?

Originally Posted by shotgunsusie

boy i about cant wait to see all the negative attitudes change in a blink of an eye.

You're not implying I have a negative attitude......?
Read and interpret as you will....I was wasting my time trying to joke.

Work underway for launching GCC single currency - report ECO-GCC-ANNIVERSARY-INTEGRATION
Work underway for launching GCC single currency - report

RIYADH, May 26 (KUNA) -- Work is underway to meet the 2010 deadline for launching the GCC single currency and a deadline later this year for launching the GCC common market, a report by the Office of the GCC Secretary-General said Saturday.

The report, which was issued in Riyadh to mark the 26th anniversary of the foundation of the Gulf Cooperation Council (GCC,) cited some steps taken to launch the single currency, including adopting economic standards that meet the requirements for such a single currency.

The economic standards include fiscal, inflation-related, interest rate-related and foreign reserve ones as well as financial ones namely the rate of annual public deficit as well as the proportion of public debt to the Gross Domestic Product (GDP), the report said.

It also called for economic rapprochement among GCC member states and that the inflation rate in any member state should not exceed two percent while the interest rate in any of them should not exceed a certain level.

The report stated that foreign reserves in each state should be enough to cover that state's import requirements for at least four months and that the proportion of public deficit to GDP should also meet a certain level.

The deficit of individual governments should also not exceed 60 percent of the GDP and that the central government's public deficit should not exceed 70 percent of the GDP.

The report cited most economic achievements for 2006, including an agreement by the Council of Governors to underwrite a EU Central Bank study of the legislative and organizational framework of the launch of the GCC single currency.

Another achievement was the launching of the GCC customs union and scrapping customs fees among GCC member states. (end) od.
eh



KUNA 262114 May 07NNNN

Kuna site|Story page|Work underway for launching GCC single currency - ...5/26/2007

[quote=DontDenyDatDinar;205519]Yahoo had a similar article yesterday stating that it would be years.

I think this may be some timely misinformation; what was the name for this?[/quote]

I tend to agree as I said in another post after that...that this article didn't make sense.

First you have the WTO saying come back in years...we have the Americans tickled with the progress...we have the article saying that this was the first meeting...it all didn't jiv...something is wrong with this picture....

UNLESS

Remember the WTO Official praised the Iraqis for the courage and foresight to "pass the important laws that will create a whole new Iraq" or something to that effect, last week. You had the Italian News Release that we quoted here saying that "Iraq had met all the requirements for WTO Membership" and this meeting was a celebration party to sign a letter of intent...

OK, here is (IMO) the answer:

The WTO official and the Italian News Report talked in past tense...MAYBE, JUST MAYBE, the WTO had been assured that the brave steps of the Iraqis would have been done by this meeting on the 25th ie...oil law...Suni Civil Rights.

At the meeting, none of what the WTO had praised the Iraqis for (last week) was actually delievered AND THIS then put their membership on hold..

IMO the oil law and maybe the re-establishment of Suni Civil Rights were part of the WTO deal and till they are instated...NO WTO Membership...

Just a thought!
PLEASE DON'T BEAT ME
to death!?!