Thread: Archive Latest News - Think Tank - 16/08/07 - 03/11/07

IQD Rate adopted till Wednesday

Baghdad (NINA)- The Central Bank of Iraq (CBI) has announced adopting the US Dollar's exchange rate, registered Thursday Oct. 11, until the end of working hours next Wednesday. According to a statement by the CBI Thursday, the Bank will adopt the IQD 1232 per US Dollar as selling price and IQD 1230

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KRG says it supports Iraqi Oil Unions

The Iraqi Kurds’ oil minister, in contrast to the federal oil minister, says what’s best for Iraq is to embrace the oil unions.

Iraqi Oil Minister Hussain al-Shahristani has ordered the ministry’s companies and departments to cease dealings with the oil unions.

“The trade unions in Iraq now are illegal till the new law is passed by the Parliament,” Shahristani told UPI, referring to a new labor law called for in the Constitution but that has not materialized.

Ashti Hawrami, minister of natural resources for the Kurdistan Regional Government, told UPI his region’s law has incorporated local worker requirements, and unions are key to that.

“Our key objective is maximize returns for Iraq,” Hawrami said, “so we have no problems with unions and professional organizations, because in a democratic society we must be inclusive of all these requirements.”

Iraq’s oil workers were banned from unionizing by Saddam Hussein, one of the few Saddam-era laws kept by the U.S. Coalition Provisional Authority and subsequent Iraqi governments.

Regardless, the workers organized and successfully blocked plans to privatize parts of the oil and other sectors.

More recently, the Iraqi Federation of Oil Unions, an umbrella group based in the oil capital Basra in southern Iraq, have called for Shahristani’s resignation and threatened to strike if a controversial oil law is approved by Parliament.

The unions’ demands include improved working conditions.

But they also oppose a type of model oil contract that would allow foreign oil firms in what has for decades been a nationalized oil sector.

The KRG and the unions have a common enemy -- Shahristani -- but appear to be bitterly opposed on the oil law contracts.

The KRG has already signed a small handful of such deals and says it is the course they are charting to develop their oil sector -- a bane to the federal government, which has not approved a federal oil law and says the KRG is moving unilaterally.

“We must win the unions over and not label them being illegal,” Hawrami said.

United Press International - International Security - Energy - Briefing

McCain: New Rules for Companies in Iraq

Republican presidential hopeful John McCain called for stepping up oversight of private security firms in Iraq and blamed the Bush administration for not initially sending enough troops.

Private security operations, such as Blackwater USA, were needed because U.S. troops were stretched too thin, said McCain, who has long called for increasing troop levels.

"I would think it's important to point out that the reason why they're there is because we never had enough troops, we never had enough boots on the ground so they are carrying out responsibilities that normally American military would be carrying out," McCain said during Wednesday's taping of "Iowa Press" on public television. "I wish we had the size of Army, Marine Corps and Guard that we could send more troops."

Because they didn't assign more troops initially, McCain said President Bush and former Defense Secretary Donald Rumsfeld share some of the blame for the reliance on Blackwater and other contractors. Critics have noted the unprecedented use of private security firms in Iraq, and the issue has received great attention since Blackwater guards were implicated in a Sept. 16 shooting that left at least 17 civilians dead.

McCain said the U.S. should establish more specific rules for companies such as Blackwater, which are largely immune from prosecution through Iraq's justice system.

"I think it needs to be reviewed as to what their rules of engagement are, what their behavior is, who controls them, etc.," McCain said.

Asked by reporters after the taping whether such contractors should be subject to American laws, McCain said, "I think that they should, and the rules and regulations of engagement."

McCain: New rules for companies in Iraq

Turksh Clampdown on Kurdish Rebels Threatens Crude

Crude prices have risen amidst fears that oil shipments out of Iraq could be compromised in the wake of a possible Turkish attack on rebel camps in Northern Iraq.

Turkey's Prime Minister Tayyip Erdogan has threatened to attack Kurdistan Workers Party bases in Northern Iraq unless the US and Iraq prevent strikes by the group within Turkish borders.

US crude jumped from $1.04 to $81.3, with the impending Northern Hemisphere winter and news of a fire at BP oil field in Alaska also affecting prices, says Reuters.

Offshore Technology - Turksh Clampdown on Kurdish Rebels Threatens Crude

Iraq on menu in American-British talks
Gates, Des Browne discuss Britain's plans to pull troops out of Iraq, beef up forces in Afghanistan.

US Defense Secretary Robert Gates arrived in London Thursday for talks expected to include Britain's latest plans to pull troops out of Iraq and calls to beef up forces in Afghanistan.

The simmering nuclear standoff with Iran could also be on the menu during the six-hour stopover en route for Moscow, where Gates faces likely tough talks with Russian authorities.

Gates and his opposite number Des Browne were due to give a press conference after their talks at noon (1100 GMT), before the US defence chief meets Prime Minister Gordon Brown. He then heads to the Russian capital in the afternoon.

Brown announced earlier this week that London hopes to cut its troop levels in southern Iraq by more than half from early next year, to 2,500.

The new announcement, after a pledge last week to cut numbers by 1,000 by Christmas, have fueled talks of strains between London and Washington, de****e Brown's insistance it is working closely with US President George W. Bush.

Brown is also widely seen as trying to distance himself from his predecessor Tony Blair, who was Bush's main ally in the 2003 invasion.
The White House said it was not surprised by the announcement, which was "consistent with previously announced plans... to reduce their troop presence ... as the Iraqi security forces are able to take lead responsibility".

The United States has announced plans to cut its troop levels back to 130,000 by next July, after its "surge" earlier this year.

Britain is also keen to bolster forces in Afghanistan, where its 7,000 soldiers have suffered a mounting death toll at the hands of Taliban insurgents since spearheading a NATO push into the south.

Brown wants other NATO countries to take on more frontline duties in the volatile south, where the United States previously took the lead following its ouster of the Taliban in the wake of September 11, 2001.

Gates was due to fly on to Moscow Monday afternoon.

The talks with Russia are expected to focus on an assortment of arms control agreements that restrained the two superpowers during the Cold War, but are now unraveling amid recriminations over US missile defense plans.

In an unusual joint mission to Moscow, Gates and US Secretary of State Condoleezza Rice will meet their Russian counterparts Friday and Saturday on a range of strategic issues.

These include US missile defence plans for Europe, a Russian threat to suspend its participation in a treaty limiting troops and tanks in Europe, and the approaching expiration of a Cold War-era treaty limiting strategic nuclear weapons.

A senior State Department official who briefed reporters last week said the US side has put forward "some very creative ideas" to resolve differences with Moscow, but gave no sign that the US position on missile defence has changed.

Russia is vehemently opposed, seeing the so-called European site as a military encroachment in its former sphere of influence that could be turned against its nuclear forces.

Iraq on menu in American-British talks | Iraq Updates

Turkey says Armenian resolution to harm U.S. ties

Turkey warned on Thursday that relations with its NATO ally the United States would be harmed by a U.S. House committee's approval of a resolution calling the 1915 massacres of Armenians by Ottoman Turks genocide.

The move came as Turkish Prime Minister Tayyip Erdogan prepared to ask parliament, which his party controls, to authorize a military incursion into northern Iraq to fight Kurdish Turkish rebels using the region as a base.

"The committee's approval of this resolution was an irresponsible move, which at a greatly sensitive time will make relations with a friend and ally, and a strategic partnership nurtured over generations, more difficult," the centre-right government said in a statement.

"Our government regrets and condemns this decision. It is unacceptable that the Turkish nation has been accused of something that never happened in history," the government said.

Turkey, which has NATO's second biggest army and plays a key role in a volatile region, has warned of damage to bilateral ties and military cooperation if Congress passes the measure.

The House of Representatives Foreign Affairs committee approved the resolution on Wednesday and it now goes to the House floor, where Democratic leaders say there will be a vote by mid-November.

Turkey said it would do all it could to stop the resolution being approved by the assembly.

Ankara rejects the Armenian position, backed by many Western historians and some foreign parliaments, that up to 1.5 million Armenians suffered genocide at the hands of Ottoman Turks during World War One.

Turkey says many Muslim Turks died alongside Christian Armenians in inter-ethnic conflict as the Ottoman Empire collapsed.

IRAQ

The White House had warned the resolution would harm ties with Turkey, which is an important logistics player in the Iraq war.

The bulk of supplies for troops in Iraq pass through Turkey's Incirlik airbase, and Turkey provides thousands of truck drivers and other workers for U.S. operations in Iraq. Supplies also flow from the base to troops in Afghanistan.

Diplomats say the committee's approval of the genocide resolution will weaken U.S. influence over Turkey at a time when the ruling AK Party ponders whether to authorize a major military cross-border operation into northern Iraq.

A large incursion would strain ties with the United States and the European Union, which Ankara hopes to join, and could destabilize Iraq's most peaceful area and potentially the wider region.

But Erdogan is under great pressure to act after rebel attacks have killed some 30 soldiers and civilians in the past two weeks.

He said late on Wednesday that his government could send the request to parliament on Thursday and obtain an approval after a holiday, which begins on Friday, to mark the end of the Muslim holy month of Ramadan.

Parliament, where Erdogan's AK Party has a big majority, would have to give permission for troops in big numbers to cross the border into neighboring Iraq. Passing the measure would not automatically mean Turkish troops going into northern Iraq.

Ankara blames rebels of the outlawed Kurdistan Workers Party (PKK) for the deaths of more than 30,000 people since the group launched its armed struggle for an ethnic homeland in southeast Turkey in 1984.

Turkey says U.S. and Iraqi authorities have so far failed to crack down on 3,000 PKK rebels believed based in northern Iraq, from where they stage attacks in Turkey.

Large-scale incursions by Turkey in 1995 and 1997, involving an estimated 35,000 and 50,000 troops respectively, failed to dislodge the rebels.

Turkey says Armenian resolution to harm U.S. ties | Iraq Updates

Iraqi stock exchange index rising by 0.102 % after a series of losses

Iraqi stock exchange index rose by 0.102 % to settle at 38.139 points after a series of losses and decline in the market since the end of last September.

Yesterday, Tuesday, the fourth session of circulation was held for the month of October and the ongoing movement of circulation was very encouraging and above the average level where the number of traded shares was (774) million shares at a value exceeded ( 1.081) billion dinars ($ 871 thousand) achieved through the implementation of (301) hall deal.

Foreign investors have participated in the circulation session yesterday through the implementation of two hall contracts on the banking and services sectors and the number of traded shares reached more than (15) million shares at a value exceeded (33) million dinars.

The shares of (14) banking company were circulated; the price rates of shares of Baghdad Bank only increased by 1.8% and the price rates of shares of the Iraqi Credit Bank decreased by 1.3 % and the Bank of the North by 1.2 %, while 11 companies have maintained the same price rates of shares of the previous meeting. The banking index closed at 37.130 points stable than in the previous meeting.

The shares of 13 industrial companies were circulated; the price rates of shares of six companies increased, and they are: East Beer by 11.7 %, and it was the highest rate of increase at yesterday's meeting, the Chemical Industries by 10.5%, Al-Hilal Industrial Company by 4%,, Light Industries by 3.5%, Metal and Motorcycles by 3.1 % and finally Carpets and Upholstery by 1.4 %, while the price rate of shares of two companies decreased and they are: Northern Company for Carbonated Drinks by 4.7% and Modern Dyes by 2.7 %, and five companies maintained the same transaction rates of the previous meeting. The industrial index closed at 11.814 points, going up by 0.373 % from the previous meeting.

The final outcome of yesterday's session of circulation was that the shares of (33) companies out of (93) enlisted on the market; the price rates of shares of eight companies increased, while the price rates of shares of seven companies went down and (18) companies maintained the same rates of their previous prices.

Iraqi stock exchange index rising by 0.102 % after a series of losses | Iraq Updates

Opening a Bureau of the Japanese company J.K.C in Sulaymaniyah

Mr. Abdullah Haj Sayeed, Mr. Mam Jalal assistant for business, met yesterday, Mr. Hassan Mahjoub, representative of the Japanese company J.K.C in Iraq, and his accompanying delegation composed of a group of Japanese companies in the field of investment, trade and industry.

At the meeting, Mr. Abdullah Haji Sayeed talked about Kurdistan relations with the neighboring countries and the world from the economic, commercial and industrial side, and described it as being solid and powerful, pointing out that it was due to the Labor and Investment Law, the facilities provided by the government of Kurdistan as well as security and stability in the region, and expressed his desire to strengthen the relations between Kurdistan and J.K.C company and with other Japanese companies.

In the meeting, the competence and specialties of the Japanese company were discussed and a proposal was also made to present a list to the company on investment, business and industrial projects in the region to provide functions and work in this area.

It was also decided to open an office of the Japanese company J.K.C in Sulaymaniyah soon.

Opening a Bureau of the Japanese company J.K.C in Sulaymaniyah | Iraq Updates

Iraq's Finance Minister is visiting Syria soon to resolve unsettled issues

Iraqi Minister of Finance will be visiting Syria soon to solve the financial problems between the two countries after many Iraqis escalated their demands of $ 120 million from the Syrians and also Syria demanding Iraqis of half a billion dollars, as the Ministries of Finance in each of the two countries had signed an agreement years ago, according to which the Syrian Commercial Bank returned Iraqi blocked assets (about 160) million dollars to the Iraqi government.

Dr. Ratib Al-Shallah, Chairman of the Syrian Federation of Trade Chambers, said in a statement that no amounts paid to Syrian exporters, who delivered goods to Iraq during the oil-for-food phase, and that news of funds being transferred to the Commercial Bank of Syria are incorrect. He added that the important thing now is to solve the unsettled financial accounts because that would make trade relations more transparent and based on a white sheet of paper because the existence such unsettled accounts would cause confused relations.

Dr. Mohamed Al-Hussein, Minister of Finance, called for the need to address this issue between officials of the two countries during the latest visit of Al-Maliki to Damascus, in order to ensure better relations and make way for new trade deals between the two countries and on solid foundations, adding that in all cases the interests of the two countries is to speed up the settlement of those financial problems.

Iraq's Finance Minister is visiting Syria soon to resolve unsettled issues | Iraq Updates

Bush and al-Maliki Discuss the Latest Political Developments
President George W. Bush and Iraqi PM Nouri al-Maliki, discussed by a secure video the latest political developments in Iraq, and working with the legislative organizations for issuing a necessary and important laws.

In a press conference at the White House, the official spokeswomen Dana Perino said that “the President spoke with Iraqi Prime Minister Maliki by secure video from the White House Situation Room, this morning at 7:15 a.m. for about 40 minutes.”

”The two leaders discussed working with legislative bodies and getting laws passed, and that the process can be challenging and at times frustrating. However, they also agreed that recent improvements in security and the economy in Iraq were a tribute to the Iraqi government and the Iraqi people, and should provide for progress in the areas of political reconciliation, especially from the local government levels up. And the leaders welcomed the neighbors’ conference that's coming up the beginning of November in Istanbul. And finally, they also talked about the importance of building the enduring partnership between Iraq and the United States as envisioned in the Iraqi leaders’ agreement that was passed at the end of August, 2007”, she added.


PUKmedia :: English - Bush and al-Maliki Discuss the Latest Political Developments