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

Originally Posted by Onenomad

Sorry I just did a 16hr shift so please excuse what maybe a dumb question, Your post does it mean they passed 140?

Hi Onenomad, I wish they did pass it already. No I'm sorry but it did not pass yet. They're still working on it. It will soon though,... as all kinds of news updates from everyone are pointing very positive for Article 140 to pass.

Sharp drop in demand for dollar in daily auction

Baghdad - Voices of Iraq
Monday , 28 /05 /2007 Time 7:11:47


By Dergham Mohammed Ali

Baghdad, May 28, (VOI)- Demand for the dollar was sharply down on Monday, reaching $44.205 million compared with $104.855 million on Sunday, with a decline of more than $60 million in one session.
In its daily statement the bank said it had covered all bids, which included $11.795 million in cash and $32.410 million in foreign transfers, at an exchange rate of 1,259 dinars per dollar, unchanged from Thursday.
None of the 17 banks that participated in Monday's auction offered to sell dollars.
Ali al-Yasseri, a trader at the auction, told VOI "the decline in government's bids in foreign transfers lowered the demand for dollar in today's session."
The Iraqi Central Bank runs a daily auction from Sunday to Thursday.

The economic policy does not possess the balance in the provision of basic needs of the individual

Economic expert : a pressing need to adopt the legislation guaranteeing the rights of consumers

BAGHDAD - Hassan Al-Rubaie

Dr. Salem Mohamed Aboud expert in Rebhuth Hamaihalmsthlk market and to the need to adopt legislation legal system believes consumer rights and protection from the effects of economic policy and Tczyatha diverse and numerous and impacted negatively on consumer rights.

..

He said in his interview to "Assabah" The economic policy adopted to balance possesses with respect to the basic needs of people such as food, clothing, housing, health, education and essential services does not take justice and equal opportunities, particularly for those with limited income, and low exposure to market economics various States does not meet the individual needs and desires of the Iraqi as well as a lack of effective control systems of all types and the absence of performance evaluation and weak institutions with a lack of interest in making the relationship provide protection and safety of goods harmful causing danger to human life, where concerns focused exporting companies and the recipient only on the marketing of products stored long and window standard specifications as well as non-activated safety with regard to the right of the consumer and described the economic system as one of the basic manifestations of human activity must also be made the balance in this activity fee to avoid affecting the objectives and means, thus showing economic or social diseases affecting the community and shatters the institutional structures allow for the spread of corruption and the disintegration of values. Dr. Abboud goes on to say ..

...

It must ensure that state to organize its economic policy through the available resources. Because disorders usually appear in the formulation of objectives and methods of achieving ...
For the purpose of the success of any economic policy must be setting goals and the search for the means and resources to employ what strengthens a sense of responsibility and the level of awareness and the development of culture at each of the shareholders in economic policy making.
The executors and beneficiaries of this, a package of legislation or believes in the basics of individual safety and education, compensation and the right of choice and believe it is required to occupy strategic priorities at the present time because of their relationship to the life of the individual and the family, legislators should take this aspect as humanitarian and given the size of the blockade that has plagued a societal values and order and economic development.

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

preliminary reading in a document of the International

Thamer Alheims

An International Covenant approved in the Sharm el-Sheikh message to the international community, regional and Iraqi and including it on this scale has become general principles afraid multiple interpretations, both in the understanding or the method of execution or identify priorities that is many-sided terms for the Iraqis or neighbor or friends.

And this from the nature of things like conventions and international treaties or regional. Therefore, the Iraqi Walberg is the cornerstone, the parties concerned must emulated because he knows Bhaabah than others, but how we are in front of the multiplicity of visions and ideologies.

This also was not an aberration, but also is the year of life.
Who decided to lay the foundation stone on which to build an economic process of political and economic security is the only independent professional At the same time, Iraqi real, where there is economic criteria and measurements international force and effective to the extent of writing constitutions. it stated in the introduction to the Covenant (to allow the private sector to play a leading role in economic activity with the special role of the government in regulating this activity, protection from the effects of external fluctuations) here did not specify the timing of commencement of any starting as there are conditions to be provided perhaps the first government in readiness regulate this activity, protection and this is not soon perhaps linked to security and maturity of the political process and get rid of corruption in order to be able to achieve this goal.
It was also reported (revive the confidence of the Iraqi people in the state's ability to protect and meet the basic needs) is also needed to be more focus because it is not just a government job, but has a traditional relationship of this people accustomed to the continuous Travailleurs The exception is decentralized and highly centralized rule is that any social and economic infrastructure, political and security built on this basis.
Unmet core is not merely a ration card and petroleum products, according to the simplest criteria are education, health, electricity, water, housing, and without these needs can not move to the next stage of any surrender command of economic activity, and be impossible for any private sector that are active in the absence or weakness of the basic needs if we are to this sector success, and this is the environment as outlined in paragraph IV for the next five years, permission will lead economic activity in the next five years, however, after a state rehabilitation of the private sector in providing the above needs and create a favorable environment economically and legally, socially and politically.
It is unreasonable to be a non-government leadership to the community in which nine million below the poverty line and 5% absolute poverty and consequences of illiteracy and loss of skills and social ills and imbalances evident in that.
The agricultural sector is therefore eligible for the first private sector being sponsored by a state, but its owners is very qualified to absorb rural unemployment and extends to the town and contribute to the solution of the ration card items import of sugar to flour.
In this step will make private industrial or commercial competitor integrated Such a step would be a mistake to proceed and help regaining security and development, As for the regional hub in the process, the neighbors are worth caring for political considerations, economic and security understanding more qualified than others in that we have from the economic point of files pending visit with water resources and file the grid and regional trade continued to be strengthened including them cope with the requirements of the agricultural sector sector, Tourism is also a cornerstone to the neighbors could not be feasible without a privileged relationship.
The former international hub care are the Paris Club and suffered from the Arab brothers must be linked to our relationship with them as of the moment of recognition in Paris and then end 100% of the camel of us who do not do it.
In conclusion will be five years (2007-2011) is the year the construction of infrastructure and basic needs and the agricultural sector by sector currency and the privatization of state support is limited under the terms of success and as approved by the World Bank that it is possible for government projects continued performance and success for the next eight years. Pending availability of stock and market shares and integrated infrastructure to offer for the industrial sector real support does not preclude its participation from now in pushing this trend.

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

Finance Minister : Iraq's reserve currency 21 billion dollars

Baghdad-Agencies

The Minister of Finance revealed statement Jabr Zubaidi said that 45 state abolished its debts on Iraq, with rates ranging between 100 and 80%, "totaling 140 billion dollars.

This was considered a "breakthrough comes in the framework of the agreement signed between the Iraqi government and the International Monetary Fund, praising the role of Saudi Arabia" and promised to write off 80% of their loans to Iraq, as well as China have declared their commitment to the rules of the Paris Club. Zubaidi stressed that the 2007 budget, "differs from last year's budget." He pointed out that "the proportion of the budget implementation ministries other than good unable to do so," emphasizing that the funds "will be removed from the ministries that have been unable to implement the budget and giving it to other ministries. He pointed out that this year "has been relatively stable in inflation ranged between 40 and 45%," pointing to the success of the Iraqi Central Bank in the collection of hard currency reserves reached 21 billion dollars. and it is a good amount, and can provide a reassuring stability.

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

food Babylon denies receiving instructions on the abolition of the ration card

Hilla Plumber

The company denied Assembly of foodstuff trade in Babylon province received any instructions concerning the abolition of the ration card system.

A source in the company told (morning) that the news most recently in the number of channels on the abolition of the ration card and replace pay damages of 10 dollars per person does not have any basis in truth, explaining that the distribution of shares of food at one time recently came within the Ministry to provide the basic materials the citizen, and charged the expenses bought from markets and to provide an area within the company to absorb large quantities of materials reaching successively to the company's warehouse, adding that the simultaneous attack on two channels and distribution at the same time creating a kind of concern to the citizens of fear of the cancellation of the ration card because of its importance in his pension

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

Largest natural gas field in Iraq discovered


28 May 2007 (Iraq Directory)

Spokesman of the Oil Ministry, Assim Jihad, revealed last Wednesday the existence of the largest natural gas field in Iraq extending from the border of Nineveh to the West of Al-Qaaem, with extensions to the Iraqi-Saudi border. Productivity is estimated at about an initial 100 thousand barrels per day.

Jihad said that the European Union is exceptionally interested in the Ukash gas field in Iraq because of its proximity to the European Union via the strategic gas pipeline project linking to Egypt, Jordan and Syria through Turkey.

Jihad pointed out that the Ministry of Oil held intensive talks with the European Union delegation in the past few days on the Ukash field.

Assim Jihad stressed that future investments in the Ukash field would make Iraq one of the largest producers of natural gas.

Pipeline to carry Iraqi crude to Iran
By Mohamed Hameed



28 May 2007 (Azzaman)

Iraq has accepted an Iranian offer to build a pipeline connecting its terminals and refineries to the prolific Iraqi oil fields in Basra.

Assem Jihad, Oil Ministry’s Information Officer said, the agreement was reached during a meeting between Oil Minister Hussain Shahristani and the Iranian ambassador in Baghdad.

Initially, the pipeline will carry 200,000 barrels of Iraqi crude to Iran.

The countries will soon form a joint committee on how to implement the project, Jihad said.

However, Jihad declined comment on financing and duration of execution.

But said Shahristani has invited Iranian firms to invest in Iraq and present their offers to build new refineries in the country.

The government has said it would extend Iranian firms preferential treatment because many of them are still operating in southern Iraq despite the flight of other foreign companies.

Jihad also said Shahristani has recently met with an EU energy delegation to see whether Iraq can contribute to meet the union’s insatiable demand for gas and oil.

He said the EU delegation expressed a desire to import Iraqi gas and particularly from the Kash field in the northern Province of Nineveh.

British official delegation in Baghdad for draft Iraqi oil and gas law
By Hadi al-Hadi

Baghdad, 28 May 2007 (Voices of Iraq)

A British official delegation met on Saturday in Baghdad with members of the Iraqi parliament's investment committee to explore causes that delayed passing the Iraqi oil and gas draft into law, a member of the House's investment committee said.

"The House's investment committee acquainted members of the British official delegation with the reasons behind delaying the enactment of the Iraqi oil and gas draft law," parliamentarian Nour al-Din al-Hiyali, from the Sunni Iraqi Accordance Front, told the independent news agency Voices of Iraq (VOI) on the phone.

He added "the delay is due partly to the unresolved consultations about the constitutional amendments and partly to the ongoing talks between the central government and the local administration of Kurdistan region on the draft."

The parliament's investment committee member who did not unveil the names of the visiting delegation members said "both British and U.S. sides are keen on accelerating passing the draft law in its present wording."

The investment committee told the delegation that it would take long before the draft be passed into law as "it regulates Iraq's first wealth and it should pass through in-depth evaluation prior to its enactment," al-Hiyali told VOI.

The Iraqi lawmaker expressed belief that U.S. and British companies would be the only beneficiaries from the law if it was passed under the deteriorating security situation currently prevailed in Iraq.

"Only U.S. and British companies will be able to strike deals with the Iraqi government since their troops are still deployed in Iraq," al-Hiyali said.

The House's investment committee considers now the formulae of investment contracts that should be struck with foreign companies so that Iraq's wealth could be secured for the upcoming generations, the committee member noted.

The Iraqi oil and gas draft law was approved by the Iraqi Council of Ministers in mid January and was referred to the parliament for enactment.

The present wording of the draft law gives Iraqi and foreign investors a free hand to build and operate oil refineries and gas installations in Iraq for a period of no less than 50 years and then they will be transferred to the Iraqi government.

There are differences among the major political blocs over passing the draft law as Sunni parties press for adjourning passing it till security prevails in the country while Kurds oppose the clauses concerning the relation between the central government and the Kurdish administration as the present draft wording gives more powers to the central government as to concluding investment contracts with foreign companies.

Developing oil fields to increase production

Naserya, 28 May 2007 (Al-Sabaah)

South Oil Company has started fulfilling a comprehensive plan to maintain oil sites in Theeqar province.

An authorized source informed al-Sabah that a wide study has been put to develop three oil fields in province, adding that the company created Theeqar oil fields department to control oil production process in province, and stressing that investing these fields would participate in raising the ceiling of raw oil production in southern part of the country.