Thread: Archive Latest News - Think Tank - 01/01/08 - 14/04/08

Sharp decline in dollar demand in daily auction

Demand for the dollar dropped sharply in the Iraqi Central Bank's auction on Tuesday, registering at $68.910 million compared to $162.515 million on Monday.

"The demand hit $10.915 million in cash and $57.995 million in money transfers outside the country, all covered by the bank at a stable exchange rate of 1,211 Iraqi dinars per dollar, same as yesterday," according to the central bank's daily bulletin which was received by Aswat al-Iraq- Voices of Iraq- (VOI).

None of the 13 banks participating in the auction offered to sell dollars.
Speaking to VOI, Ali al-Yasseri, a trader, said that many remittances were sent on Monday, decreasing the overall demand for the dollar today.

The Iraqi Central Bank runs a daily auction from Sunday to Thursday.

Aswat Aliraq

ISX index higher by 0.058%

The Iraqi Stock Exchange (ISX) index increased by 0.058% on Tuesday compared to the previous session, closing at 34.120 points.

Traded shares in Tuesday's session exceeded 747 million at a total value of over $898.765 million by implementing 289 contracts.

Non-Iraqi investors participated with over 46 million shares, totaling more than 108 million Iraqi dinars by implementing 29 contracts in the banking and services sector.

According to the daily analysis of the capital market, the banking sector's index, in which 15 companies traded, closed at 36.460 points, 0.247% higher than the previous session; while the services and industrial indexes were both down by 0.103% and 0.080% respectively.

The statement concluded that 30 companies were traded in Tuesday session out of 94 companies registered in Iraq's stock exchange, of which five indexes went up, six dropped, and 19 maintained their previous price.

Aswat Aliraq

Iraqi economy data in World Bank bulletin

For the first time in 30 years Iraqi economy statistics and data will be published in a periodic bulletin released by the World Bank, an Iraqi central bank statement said on Tuesday.

Statistics on Iraqi economy will be published in a periodic bulletin issued by the International Monetary Fund (IMF) as of early March 2008, according to the statement that was received by Aswat al-Iraq, Voices of Iraq, (VOI).

"For the first time since 1977 Iraq has reached an advanced level of progress with regards to the proliferation of macroeconomics information, after it had blocked the international community's access to useful data for over 30 years," read the statement.

"The publication of these data opens the door to a new era of integration into the international community and ranks Iraq high on international development assessment and transparency…," it added.

Aswat Aliraq

No evidence on Iran's use of Iraqi oilfields - official

National Security Adviser Muwafaq al-Rubaei said on Tuesday there is no evidence that Iran exploited Iraqi oilfields, urging to be more accurate on such information.

Speaking at a conference in Najaf after his meeting with top Shiite cleric Ali al-Sistani, al-Rubaei said "there is no evidence that Iran had exploited 15 oilfields."

Iraqi undersecretary of foreign affairs Muhammad al-Hadj had said last Sunday that The Iraqi oil ministry sent the Iranian government a memo on excesses on joint oilfields.

"The foreign ministry, via Iraq's embassy in Tehran, sent the oil ministry's memo to the Iranian government demanding cessation of all activities on these fields pending the signing of an agreement in this regard," he explained.

Hammoud did not reveal when this memo was sent. He said so far the Iraqi foreign ministry has not received a reply from the Iranian side.

Iraq's anti-corruption agency chief, Moussa Faraj, had said in press statements that Iran seized more than 15 oil wells in the border area of al-Tayeb, southern Iraq.

Regarding his meeting with al-Sistani, al-Rubaei said that he posted him with the security and political file in 2007 as well as achievements made in the services file.

"Some security circumstances and Iraq's latest developments delayed the third round of talks between the U.S. and Iran on Iraq," he noted.
He unveiled preparations for a wide-scale security operation in Mosul to combat armed groups.

"Prime Minister Nouri al-Maliki headed Mosul to make the first touch to the plan," he also said, noting that there is a meeting next Thursday to highlight the plan's final details.

"Crucial battle against terrorism will be in Mosul," the senior official asserted.

Aswat Aliraq

Baghdad violence toned down thanks to improved security – spokesman

The level of armed operations and acts of violence toned down to a great extent thanks to the improvement and efficacy of the security apparatus, the government's official spokesman said.

"The number of victims of terrorism in Baghdad lessened from 958 in January 2007 to only 16 in January 2008, car bomb attacks lowered from 50 to seven and the number of wounded civilians as a result of terrorist attacks decreased from 2200 to 50," Ali al-Dabbagh said in a statement received by Aswat al-Iraq – Voices of Iraq – (VOI).

According to the statement, the number of unidentified bodies used to be found in different parts of the Iraqi capital were 19 in January 2008 compared to 989 in January 2007.

Dabbagh attributed the decrease in the level of violence in Baghdad to citizens' cooperation in the first place and the security agencies' growing power and readiness in raiding gunmen hideouts.

Aswat Aliraq

IAF-govt. talks to settle differences resume on Tuesday – MP

Talks between the Sunni Iraqi Accordance Front (IAF) and the representatives of the Iraqi government to settle bones of contention between the two sides will resume on Tuesday, an IAF legislator said.

"There will be a comprehensive review of what was already agreed upon between the government and the IAF," Abdul-Kareem al-Samarraie told Aswat al-Iraq – Voices of Iraq – (VOI), adding "the talks, proceeding as planned, are making remarkable progress in this respect."

"All demands of the IAF – the release of detainees and expansion of political participation by all groups of the Iraqi people – were discussed. Other demands would be discussed in the meeting with the government's representatives like accelerating the endorsement of the general amnesty draft law, by virtue of which large numbers of detainees in Iraqi and Multi-National Force (MNF) jails," said Samarraie.

He said thorough study of these demands would provide a favorable atmosphere for the IAF ministers to return to the government.

On whether the IAF would replace its withdrawing ministers with others, Samarraie said this issue would be discussed in detail in a meeting of the front's members on Wednesday.

The IAF, the largest bloc representing Arab Sunnis in the political process and the government lineup, had quit its five ministers and deputy premier from the government of Prime Minister Nouri al-Maliki in August 2007 in protests against the government's "failure" to respond to the front's demands.

The IAF has been in negotiations for weeks now with government officials to discuss its return to the new government formation Maliki announced to start this week.

Aswat Aliraq

Update.......

Iraq readying 'special' oil deals

Iraq will pay with oil instead of cash to oil majors that sign special technical service agreements aimed at short-term increases in oil production.

ExxonMobil, Chevron, ConocoPhillips and Shell are firms targeted for the deals, The Times of London reports. In exchange for the oil, the companies would direct training of Iraqi workers and equipment to Iraq's largest oil and gas fields.

Iraq is moving closer to signing the first major post-2003 deals in its oil and gas sector, outside of the controversial Iraqi Kurdistan deals. Iraq produces about 2.3 million barrels per day now and wants to increase that to between 2.6 million and 2.8 million bpd by the end of this year.

Although the government has the billions of dollars necessary to invest in its sector, Iraqi ministries across the board have been unable to actually spend their capital budgets. Iraq's oil sector is in need of modernization as the years of war and sanctions and the killing or fleeing of Iraqi professionals have taken a toll.

Iraq's Parliament is stuck on an oil law that would govern such developments, including the controversial move of allowing foreign firms into the nationalized sector of the world's third-largest reserves.

Argus Media reported last week the Oil Ministry was negotiating special short-term contracts with large oil companies to provide the needed training and equipment, which would give the firms special status in upcoming bidding rounds for longer-term deals on a wide variety of fields.

Big Oil and Iraqi officials have been meeting in Amman, Jordan, according to media reports.

International Security - Energy - Briefing - UPI.com

Rice to visit London this Wednesday

US Secretary of State Condoleezza Rice will pay a brief visit to London on Wednesday, February 6, for talks with senior British officials covering major international issues including Iraq, Iran and Afghanistan, the US embassy here confirmed Monday.

During her talks with her British counterpart David Miliband, Rice will focus on the latest developments in Iraq, the relatively improved security situation and how to ensure long-term stability of the country, officials said here.

The two ministers will emphasize the need for national reconciliation in Iraq and will reiterate their commitment to help the Iraqi people achieve security and stability, they added.

Rice and Miliband will also exchange views on the situation in Afghanistan and the commitment to help that country on the road to recovery.

Both Britain and the United States are calling on some other NATO countries to commit more troops to the International Stabilisation Force (ISAF) in Afghanistan so that the violence perpetrated by the Taliban could be quashed.

On Iran, the two ministers will take stock of the Iranian nuclear crisis and will reiterate their call on Tehran to suspend the enrichment of uranium, the officials concluded.

Rice to visit London this Wednesday | Indian Muslims

Originally Posted by Seaview

Baghdad violence toned down thanks to improved security – spokesman

The level of armed operations and acts of violence toned down to a great extent thanks to the improvement and efficacy of the security apparatus, the government's official spokesman said.

"The number of victims of terrorism in Baghdad lessened from 958 in January 2007 to only 16 in January 2008, car bomb attacks lowered from 50 to seven and the number of wounded civilians as a result of terrorist attacks decreased from 2200 to 50," Ali al-Dabbagh said in a statement received by Aswat al-Iraq – Voices of Iraq – (VOI).

According to the statement, the number of unidentified bodies used to be found in different parts of the Iraqi capital were 19 in January 2008 compared to 989 in January 2007.

Dabbagh attributed the decrease in the level of violence in Baghdad to citizens' cooperation in the first place and the security agencies' growing power and readiness in raiding gunmen hideouts.

Aswat Aliraq

thanks for all the posting and hard work you are doing Seaview....but I'm thinking along the same lines as warrior...all the security in the world will not help...its the CORRUPTION IN THE IRAQI GOVERNMENT that we need to do something about...one would think with all the improvements in security the past year that it would start to show up on the streets....and with a REVEL...but this CORRUPT GOVERNMENT can't even show up to vote on anything without getting in arguments about every little thing...IMHO,the longer they procrastinate the longer they can keep stealing from under the table like they have been doing for years...they not interested in helping their own people.....Pat

U.S. on sidelines of Iraq oil law debate-envoy

The United States is watching from the sidelines as negotiations stall between the federal Iraqi government and the regional leadership in Kurdistan over two laws to govern oil production and revenue sharing.

"This is essentially and at its core a negotiation between Iraqis about Iraq's own future," Ambassador Charles Reis told Reuters on Tuesday.

Reis is responsible for co-ordination of U.S. assistance and economic policy to Baghdad. He retains the title of ambassador from his previous post in Greece.

Political wrangling has stifled progress on the draft law for dividing revenues from Iraq's considerable oil reserves, prompting the largely autonomous region of Kurdistan to begin signing its own contracts in September.

Iraq's oil minister has recently cancelled supply contracts agreed between the Kurdistan regional government and international oil companies, including Austria's OMV and South Korea's SK Energy
.
Ries stressed the importance of an agreement being reached on the oil law as quickly as possible.

"It's hard to see how Iraq can grow, develop and achieve stability without substantial resources of its own, and investment in oil and gas leading to increased exports is the main driver for that Iraqi-led recovery," he said on the sidelines of an energy conference in London.

CORRECTED - U.S. on sidelines of Iraq oil law debate-envoy | Industries | Energy | Reuters&