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

President Bush is speaking now on FOX News about Iraq and troops will receive our continuing support, but Iraq must demonstrate progress in security and reconcilation.

Hi,

RR you stated yesterday that "they" would be working round the clock" on something, can you give us further info on this.

Iraq studying a draft bill to reorganize the Capital Market
Source : House life-24/05/2007

Tabatabai re-election as Chairman of the Board of Trustees of the Stock Exchange
Re Market Authority Iraq securities election called Tabatabai Chairman of the Board of Trustees, Taha Ahmed Abdul Salam, executive director of the market, through an expanded meeting of the Assembly with the participation of representatives from the securities represented the views of the market.

Tabatabai expected that the coming period would witness the completion of a draft bill capital market, which will allow activating investment activity in the stock market, which meets the aspirations of a large segment of Iraqi investors.

He pointed out that the most prominent achievements of the bourse since regaining its three years ago, are opening the market to investors, and possession of the newly-based, and to complete the procedures necessary for the commencement of electronic trading and to allow non-Iraqis circulation in the bourse.

He revealed faith in the Iraqi Stock Market Transformation Iraq securities to a commercial company, and the activation of efforts to restore the capital Iraqi immigrant, pointing out that the intention was to encourage Iraqi mediators have opened offices outside Iraq, support for investment and activity prescribed by the Exchange.

1.9% rise in the inflation rates in Iraq
Source : Statement UAE-22/05/2007

The Central Agency for Statistics and Information Technology report on the rate of inflation in the month of April compared to March last throughout Iraq.

A source said that the media in the inflation index rose 9 .1% compared to previous months due to the rise in the index of commodity totals for fuel and lighting by 6 .5%, and medical services and medicines by 2 .2%, and miscellaneous goods and services rose by 1 .0% and rent by 1 .2%.

He added : that spending on this group is 6 .15% of total domestic consumer spending. The source explained : registered a decline in the index of foodstuffs increased by .1%, tobacco and beverages rose by 8 .3% and fabrics, clothing and footwear increased by 3 .1% and furniture by 5 .0%, transport and communications rose by 6 .1%.

• Congress set to pass $120B Iraq bill
Here we are sending billions more to Iraq fighting as well as pork bellies for some of our wonderful congressmen here in the States, and a movement in the dinar of 1 or 2 recently. How long are they (Iraq) going to keep sitting on their hands while we spend our fiat currency to keep them safe? Safe? Not sure if that is the correct term...
Blessings to all....

Starting the second international exhibition for the reconstruction of Iraq in Turkey
Source : Kuna - 24/05/2007

Go today in the city (Izmir Ghazi) Turkish Second International Exhibition of Iraq in coordination and cooperation with a number of Turkish companies.
The Minister of Foreign Trade, bilateral Turkish counterpart on the sidelines of the exhibition that his country possesses all the ingredients of commercial development, pointing out that Turkish goods have confidence in all countries of the world.

He bilateral his country's desire to raise the level of external trade with Iraq in the coming stage and elevate them to higher levels.

He said Iraqi Trade Minister Abdalvlah Sudanese to start international exhibition for the reconstruction of Iraq in the city (Izmir Ghazi) for the second time is a great chance for businessmen and companies for the exchange of experiences and information and planning to build huge projects bilateral economic movement mutual support between the two countries.

Participating in the exhibition of more than 1500 companies that include various disciplines together with a number of trade ministers and officials from Iraq, Syria, Jordan and Turkey, where the exhibit is a demonstration of the major commercial contribution to the rebuilding of Iraq and putting their companies in different areas of work in order to benefit the Iraqi side of this building in particular, the experience of last year's unprecedented success achieved after great exhibition, which was attended by both companies or businessmen spe******ts in the areas of reconstruction.

The exhibition presents many of the goods in the areas of communications, industry, agriculture, water purification, transportation, trade and groundwater along with electricity, railways and software engineering and operations research, engineering and communications products and health foods.

The exhibition, which was formerly known as the Baghdad International Fair has held since 2002 because of the circumstances caused by the circumstances of war, which erupted in March 2003 when a 35 times since its inception.

MENAFN just rose 36.1 points
MENAFN - Middle East North Africa . Financial Network Currency Charts,Currency Update,Money Markets,Analysis,Projection

Thursday, May 17, 2007 1210.4 IQD

Friday, May 18, 2007 1197.3 IQD

Saturday, May 19, 2007 1197.4 IQD

Sunday, May 20, 2007 1196.5 IQD

Monday, May 21, 2007 1199 IQD

Tuesday, May 22, 2007 1200.1 IQD

Wednesday, May 23, 2007 1200.3 IQD

Thursday, May 24, 2007 1236.4 IQD

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.

Therefore Maigal magnitude of the need for funding is excessive. This 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.


These 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.Beginning : 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.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.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.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.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.The 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.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.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 add new fields. 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.
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.The 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.
That 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.


It 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.

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

The Saudi regime and the future of Iraq.
24/05/07
By : Sheikh Haytham Sahlani

Can Iraq to stability after witnessing a radical change unless there was a change some regulations Gulf Arab political, because the survival of such systems will become an obstacle to evolve and stabilize Iraq, it simply does not want to see Iraq's freedom and openness and democratic atmosphere of the elections and the participation of all the people in governing the country, as opposed to the structure of their authoritarian country, which possesses riches with the necks of their sons, we are witnessing everything from the Saudi tyranny and poverty, ignorance and backwardness in many cities,

The thing about this issue of the strangulation of the political and religious freedoms and the imposition and dissemination of a single doctrine and not to allow this doctrine-work his teachings and rules of legitimacy, and gets anyone who violates domestic authoritarian approach on the necks of the people of Hijaz, which robbed of their land so designated historic name became known as the Orient my ruling family, Any abuse of this predicament sons Hijaz?

If Iraq would not witness stability as long as Saudi Arabia and the Gulf region controlled by the authoritarian regimes must be replaced change in these regimes, especially Saudi regime for Iraq is stability, security, but remained in orbit terrorism continues and goes sons victims of terrorism for the survival of the Saudi regime Mitrbea the Throne.

This Makshv him and the Saudi interior minister students from America to return Iraq to where it was before the 2003 restoration of power and authoritarian political regime that is consistent with the Saudi regime, This will be shared with the owners of this vision only in their dreams, history can be traced back to the Iraqi people liberated from the constraints became owner of the decision and will and determination which decide their own political future and the future of his sons, who decides its security, economic and social, This is the flag of the United People How to write, in no need to Egidon pronunciation of the Arabic alphabet and call Barrouptham, Arabism, which Kadhiroha these heinous deeds, they wanted to impose on the people of Iraq.

The actions of the Saudi regime is going Pmadara will receive defeat of Iraqi Shiites and Kurds year and cart everything all Iraq, and Prince Bandar UNRISD by planning for inciting sectarianism and criminal and terrorist forming aggregates to strike this community or that they will return remorse and servility and losers, Ayarafua of understanding with the struggling people and ignorant of the fact the vast land of the people of Iraq who dearly for the dignity of the homeland and loftier.

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Second int''l fair on Iraq reconstruction kicks off in Turkey

Economics 5/24/2007 6:38:00 PM

By Taha Uda (with photos) ISTANBUL, May 24 (KUNA) -- The Second International Fair on Iraq's Reconstruction kicked off Thursday in the southern Turkish city of Gaziantep.
The fair attracted participations from 1,500 local and global firms, Minister of Foreign Trade Kursad Tuzmen said.
Asserting the competitive edge of Turkish products, Tuzmen voiced desire to elevate the level of commercial ties between his country and all Arab countries, especially Iraq.
For his part, Iraqi Minister of Trade Abdul-Fallah Al-Sudani hailed the fair as "a great opportunity for the business people and firms to exchange experiences and information and chart plans for launching joint ventures in Iraq and Turkey." The fair is gaining increased significance after its first session last year as it provided global businesses the opportunities to operate in Iraq and contribute to the Iraqi economic development in all sectors.
Among the exhibits in the fair are; communications, industrial, agricultural, water, transport, power, railway, and software products.
The fair, previously known as Baghdad International Fair, was put on hold since 2002 due to tense atmospheres ahead of, and after, the US-led invasion of Iraq. (end) ta.gb.
KUNA 241838 May 07NNNN

http://www.kuna.net.kw/NewsAgenciesP...23&Language=en