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

ISX index up by 0.487%

The Iraqi Stock Exchange (ISX) index rose by 0.487% on Tuesday compared to the previous session, closing at 35.07 points, with a notable presence of non-Iraqi investors.

Traded shares in Tuesday's session exceeded 968 million at a total value of $1.237 million by implementing 339 contracts.
Non-Iraqi investors participated with over 67 million shares, totaling more than 150 million Iraqi dinars (1 U.S. dollar =1,223 Iraqi dinars) by implementing 32 contracts in the banking and industrial sectors.

According to the daily analysis of the capital market, the banking sector's index, in which 14 companies traded, closed at 37.222 points; while the industrial sector, in which nine companies traded, ended at 11.111 points, same as the previous session.

The statement concluded that 31 companies were traded in Tuesday's session out of 94 companies registered in Iraq's stock exchange, of which five indexes went up, six dropped, and 20 maintained their previous price.

Aswat Aliraq

U.S.-led Sunni militias turn guns on Iraqi police

U.S.-backed Sunni militiamen have killed three police officers and injured three others, an Iraqi security source refusing to be named said.

It is the first time U.S.-financed Sunni militias turn their guns against government police forces.

The incident comes as the so-called Majlis Sahwa in Diyala or the Awakening Council, the euphemism used to describe the militias, has called for civil disobedience in the restive city.

Security sources said many government offices were closed on Sunday and Monday and that certain neighborhoods in the city saw anti-government demonstrations.

The Sunni militias are run by tribal chieftains who have demanded that the government remove the city’s police chief on allegations of corruption and human rights abuses.

Diyala police deny the allegations and a police spokesman, speaking on condition of anonymity, said the term of the current police boss, Lt. Gen. Ghanim Quraishi, has seen marked improvement in security.

The spokesman said Quraishi had the loyalty of Diyala police and that there were also counter demonstrations in his support in the city and its outlying districts.

Azzaman in English

Iraq to handle security at Baghdad International Airport

The Interior Ministry says it has given the foreign firm handling security at the Baghdad International Airport until April to end its operations.

“The Ministry of Interior has given the British firm responsible for the security of the airport a limited period of time to leave the airport premises,” a senior ministry officer said.

Lt. Gen. Abdulkarim Khalaf said as from the start of April Iraqi security forces will be in charge of the airport.

There are no international scheduled flights to Baghdad but the airport handles flights from both Amman and Damascus.

Security is said to have seen relative improvement recently encouraging Iraqis to urge foreigners to give them the chance to do things on their own.

Azzaman in English

Parliament session postponed for 30 minutes - MP

A parliament session on Tuesday was postponed for half an hour due to failure to reach an agreement on appropriations from the 2008 state budget to the Iraqi Kurdistan region, a legislator revealed.

"Tuesday's parliamentary session was delayed for half an hour to reach an agreement on the percentage of appropriations for the Kurdistan region from the 2008 federal budget," Hassan al-Sanid, a member of parliament from the Shiite Unified Iraqi Coalition (UIC), told Aswat al-Iraq – Voices of Iraq – (VOI).

Kurds insist on having 17% of the country's budget to the objection of legislators of the UIC, the largest bloc with 83 out of a total 275 seats in parliament, the Sunni Iraqi Accordance Front (IAF), which has 35 seats, and former Prime Minister Iyad Allawi's National Iraqi Movement (22 seats).

Iraqi Parliament Speaker Mahmoud al-Mashhadani had said in a press conference on Monday that voting over the draft laws on the federal budget and areas not classified within provinces would be postponed until Tuesday.

The parliament had failed to vote over the two drafts three times: Thursday, Saturday and Monday.

Meanwhile, UIC deputy Iman al-Assadi, who is also a leading figure at Shiite leader Abdul-Aziz al-Hakim's Supreme Islamic Iraqi Council (SIIC), said Hakim, who heads the UIC bloc, has stressed the unified views of the UIC as far as the drafts on the 2008 federal budget and areas not included within provinces were concerned.

"There are no deals between the SIIC and the Kurdistan Coalition (KC)," the second largest bloc in Iraq's parliament with 58 seats, Assadi told VOI.

Assadi explained that Hakim "has asserted in a recent meeting of the UIC political committee that the views of the SIIC come second to the UIC's and that there were no alliances backstage."

Abdullah Saleh, a member of the Iraqi Kurdistan region's parliament, had said in statements on Monday that the UIC has backpedaled on its agreement with the KC over approving the 17% rate appropriations for the autonomous region.

Out of the UIC's 83 seats, the SIIC and its Badr Organization occupy 30 seats.

Aswat Aliraq

Forming legal committee to study bills before voting

Speaker of the Iraqi parliament Mahmoud al-Mashhadani said on Tuesday that a legal committee has been formed called "the legal support cell" to study draft laws prior to voting on them.

"The cell consists of three members, who hold high-ranking certificates in law," al-Mashhadani told Aswat al-Iraq - Voices of Iraq - (VOI).

"Three more specialists in criminal, commercial, and civil laws will join the cell," he added.

"The committee will work as a consultative council and will study all draft laws before voting on them," the speaker explained.

Aswat Aliraq

Parliamentarian blocs agreed on controversial laws - UIC member

A leading member of the Shiite United Iraqi Coalition (UIC) on Tuesday said the parliamentarian blocs agreed on the calendar year 2008 budget, the bill of areas not classified within provinces, and the amnesty law that were postponed several times earlier.

“The fiscal budget for the calendar year 2008 has been agreed upon, as have the bill on areas not classified within provinces and amnesty laws,” Sami al-Askari, UIC member, told Aswat al-Iraq - Voices of Iraq - (VOI).

He added “the parliament speaker delayed the session until 6 pm (3 GMT) to ensure that they have the final copies of the laws printed.”

UIC, the largest Parliamentarian bloc, holds 83 out of 275 seats.

Iraqi Parliament Speaker Mahmoud al-Mashhadani had said in a press conference on Tuesday that all blocks took part in the transaction; the UIC, the Kurds participated by keeping 17% share of the federal budget, the UIC through the bill on areas not classified within provinces, and the IAF through the amnesty law.

Earlier, a member of parliament from the Shiite Unified Iraqi Coalition (UIC) Tuesday’s Parliamentary session was delayed for half an hour in order to reach an agreement on the percentage of appropriations for the Kurdistan region from the 2008 federal budget.

Kurds insist on having 17% of the country's budget to the objection of legislators of the UIC, the Sunni Iraqi Accordance Front (IAF), which holds 35 seats, and former Prime Minister Iyad Allawi's National Iraqi Movement (22 seats).

UIC called to approve the bill on areas not classified within provinces with the 2008 budget law claiming they were several common items between the budget appropriations and provinces that necessitated having the two laws together.

The Sunni IAF insisted on having the amnesty law finalized, citing pressure from their people to release scores of un-convicted detainees.

Aswat Aliraq

Presidential council approves 3rd stage of Japanese loan

The Presidential council on Tuesday approved the third stage of the Japanese loan agreement totaling 57.716 billion Japanese Yen to develop the Basra water department and the Kurdistan electricity, according to a statement released by Vice President Tareq al-Hashemi's office.

"The council determines projects that will be financed by the loan; developing the Basra water department and improving the power grid in the northern region of Kurdistan," said the statement received by Aswat al-Iraq - Voices of Iraq - (VOI).

The Japanese government presented USD 3.5 billion to the Iraqi government.

The Japanese pledge was announced at the 2003 Madrid Donor's Conference.

The council had approved the first and second stages. The first consists of four projects; rehabilitating the fertilizers laboratory in Khor al-Zubaeir, reconstructing exporting crude oil facilities, developing the engineering services of the Basra refinery and reconstructing the electricity sector.

The second stage includes four projects; rehabilitating ports, irrigation, rehabilitating al-Mussayab power plant and Samawa bridge, and building roads project.

Aswat Aliraq

MP unleashes details of agreement to pass key laws

A leading member of the Shiite United Iraqi Coalition on Tuesday uncovered the details of the accord agreed upon by parliamentarian blocs to pass the three key laws that have been postponed several times before.

"The talks among blocs reached an agreement to pass three key laws of the fiscal budget for calendar year 2008, the council of provinces not classified with a region, and the amnesty law," Hassan al-Suneid, UIC member, told Aswat al-Iraq - Voices of Iraq - (VOI).

He added "Voting on these laws will be on Tuesday at 6 pm (3 GMT) after overcoming all obstacles that blocked voting over these laws."

Earlier, Sami al-Askari, a leading member from the Shiite United Iraqi Coalition (UIC)on Tuesday said the parliamentarian blocs agreed on the calendar year 2008 budget, the law of province’s not classified within a region, and the amnesty law that were postponed several times before.

He added "the parliament speaker delayed the session until 6 pm afternoon (3GMT) to ensure they have the final copies of the laws printed."

As for the fiscal 2008 budget, al-Suneid noted "It has been agreed to give Kurdistan 17% share of the budget provided that the government should have carried out the project pf 2008 population."

He pointed out "A settlement was reached on the problem of the Kurdistan region guards known as Peshmerga by authorizing the council of minister to negotiate with region’s presidency to set the fund of these forces."

The MP also stressed the addition of new items to the province council’s law that eased a number of blocs concerns.

"It has been agreed upon to add a new item that ensures appointing and sacking governors without giving full control to the federal authority so that the rule shared between the parliaments, council of ministers and the province’s local council," the lawmaker highlighted.

As for the amnesty law, al-Suneid said "A new article urging the Iraqi government to move detainees and inmates from the d****tion centers of Multi-National Forces to Iraqi prisons to include them in the amnesty law."

Kurds insisted on having 17% of the country's budget to the objection of legislators of the UIC, the Sunni Iraqi Accordance Front (IAF), which holds 35 seats, and former Prime Minister Iyad Allawi's National Iraqi Movement (22 seats).

The UIC called to approve the law of provinces not classified together with the 2008 budget, claiming they were several common items with the budget appropriations that necessitated having the two laws together.

While the Sunni IAF and Muqtada al-Sadr parliamentary bloc insisted on having the amnesty law finalised citing pressure from their people to set free scores of unconvicted detainees in MNF d****tion centers

Aswat Aliraq

Adjourning parliament's session after withdrawal of Sadrists, Fadhila, NDF

The Iraqi parliament's chairmanship on Tuesday announced the adjournment of the evening session, which had to witness the voting on three important draft laws until tomorrow after the withdrawal of members of the Sadrist bloc, Fadhila party, and the National Dialogue Front (NDF).

"The parliament's chairmanship decided to adjourn voting on the three bills; the 2008 budget, the areas not classified within provinces, and the general amnesty, until Wednesday because of the lack of quorum after the withdrawal of the members of the Sadrist bloc, Fadhila party and the National Dialogue Front (NDF) as a result of the disagreement over the priorities of reading the draft laws," MP from the Unified Iraqi Coaltion (UIC) Diyaa al-din Fayad told Aswat al-Iraq - Voices of Iraq - (VOI).

"There was an agreement to read the three bills simultaneously and adopt them within one package, but the members of the blocs walked out of the parliament," Fayad added.

"They called for completing voting on the general amnesty draft law, while Kurds called for approving the 2008 budget first," he explained.

A leading member of the Shiite United Iraqi Coalition (UIC) had said the parliamentarian blocs agreed on the calendar year 2008 budget, the bill of areas not classified within provinces, and the amnesty law that were postponed several times earlier.

Earlier, a member of parliament from the Shiite Unified Iraqi Coalition (UIC) Tuesday’s Parliamentary session was delayed for half an hour in order to reach an agreement on the percentage of appropriations for the Kurdistan region from the 2008 federal budget.

Kurds insist on having 17% of the country's budget to the objection of legislators of the UIC, the Sunni Iraqi Accordance Front (IAF), which holds 35 seats, and former Prime Minister Iyad Allawi's National Iraqi Movement (22 seats).

The NDF, which is of secularist orientations, is the seventh largest bloc in the Iraqi parliament with 11 out of a total 275 seats.

UIC called to approve the bill on areas not classified within provinces with the 2008 budget law claiming they were several common items between the budget appropriations and provinces that necessitated having the two laws together.

The Sunni IAF insisted on having the amnesty law finalized, citing pressure from their people to release scores of un-convicted detainees.

Aswat Aliraq

US business lags in Kurdistan, 'the other Iraq'

Opportunities are rich in oil, agriculture and other sectors in Iraq's Kurdish north, U.S. and Kurdish officials said on Monday, but U.S. investment is still paltry in what promoters bill as "the other Iraq."

U.S. business and government officials, seeking to encourage investment and ease fears about doing business in war-torn Iraq, called the autonomous Kurdistan region a "shining example" of what the entire country might one day become.

Boosters point to rich natural resources, a favorable investment climate and greater security.

The region, with its own government and parliament, has boasted a lower level of violence than the rest of Iraq, which is now cautiously embracing security improvements in Baghdad and elsewhere almost five years after the U.S.-led invasion.

The Iraqi government is hoping to rebuild an economy, and public infrastructure, battered by years of sanctions and war, which plunged many Iraqis into poverty and joblessness.

But the employment outlook is far brighter in Kurdistan, and median incomes are up to 25 percent higher than in the rest of Iraq, the regional government says.

Even so, Qubad Jalal Talabany, the Kurdistan Regional Government's representative to the United States and son of the Iraqi president, said U.S. business accounts only for 1 percent of total investment in Kurdistan. "The United States lags behind most other countries," he said.

Turkey is a major investor in Kurdistan's bridges, banks and oil sector, Talabany said, despite longstanding tension with Ankara over the Kurdish rebels who have launched attacks from their mountain enclaves.

While opportunities may abound, evidence is hard to find that investors are willing to put aside concerns about general security in Iraq, along with doubts about the country's political stability, and come to Kurdistan in droves.

Neither Kurdish nor U.S. officials were immediately able to provide figures for U.S. investment in the region.

Oil is certainly a lure. The Kurdish government has clashed with Baghdad over petroleum deals it has signed with foreign oil firms, which the central government deems illegal.

Talabany, speaking at the U.S. Chamber of Commerce in Washington, insisted the Kurdish government's oil contracts would benefit the entire country.

Kurdish officials are also hoping that agribusiness will become another driver for foreign investment in Kurdistan, a traditional wheat producer.

The region's acreage of field crops, mostly wheat and barley, was about 2.3 million acres in 2007, according to the Kurdish Regional Government.

Processing and export facilities are needed to invigorate those sectors, along with tobacco, fruits and nuts, maybe even wine, Talabany said.

"The right investments will turn Kurdistan into the breadbasket of the region," he added.

US business lags in Kurdistan, 'the other Iraq' - Forbes.com