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

Iraq provincial elections on 1st October 2008
UN envoy in Iraq calls for ensuring transparency, professionalism in selection processes of election.

The UN said on Thursday that Iraqi provincial elections will be held on October 1 and steps will be taken immediately to find suitably qualified electoral officers to ensure the process is transparent.

"The date of the elections is now 1st of October," UN envoy in Iraq, Staffan de Mistura, told a news conference in Baghdad.

The announcement comes after parliament on Wednesday passed the provincial powers law which sets out the relationship between the centre and the provinces and requires that provincial elections be held before the end of the year.

De Mistura, hailing the passing of the law, warned however that inability to identify eight governorate electoral officers (GEOs) despite a five-month search by the government is "definitely a roadblock" to staging the provincial vote.

Nine of the 19 GEOs -- one for each of Iraq's 18 provinces, except Baghdad which will have two -- have been appointed but eight posts remain open.

"When we look at what are the roadblocks which have so far been making the process slow, one of them is definitely the factor that for the past five months (there has been) no decision whatsoever regarding the appointment ... of the eight GEOs," he said.

The UN would immediately set about advertising for people qualified for the eight positions, de Mistura added.

Fifteen candidates would be identified for each post.

"Applicants will ... be evaluated for their professional qualifications by international electoral experts before being appointed by parliament and the Independent High Electoral Commission of Iraq," a UN statement said.

"Governorates where the director jobs remain vacant include Nineveh, Karbala, Najaf, Diyala, Wassit, Basra, and Baghdad where there are two offices."

The electoral commission would also be asked to review the "qualifications, independence and performance" of the 11 GEOs already appointed "to ensure they are election-ready".

"It is vital that all steps are taken to ensure that the (electoral commission) is in a state of readiness for future elections," de Mistura said.

"We hope by ensuring transparency and professionalism in the selection processes that this can be achieved."

The new process, he added, was being launched due to "concerns raised by the United Nations and many political leaders in Iraq about the way in which the previous selection of eleven of Iraq's nineteen GEO Directors were conducted in September 2007."

The process should be completed in 43 days, de Mistura said, and encouraged "women and persons from all communities throughout Iraq to apply for these important jobs."

The UN envoy hailed the passing of "three important laws."

Breaking a months-long logjam, parliament also passed the annual budget and a law that paves the way for the granting of amnesty to thousands of political detainees.

"This is exactly what we hope to see in terms of democracy," he said. "It is made of compromise, it is made of debate but it is also made of results."

Provincial elections were last held in January 2005, at the same time as national elections

Iraq provincial elections on 1st October 2008 | Iraq Updates

Sorry if already posted......

Iran President due in Baghdad on March 2

While US-Iranian talks on Iraq security have been adjourned, Iraq has confirmed the visit of Iranian President Mahmoud Ahmedinejad to Baghdad on the 2nd of March. Iranian President is expected to hold talks with Prime Minister Nuri Al Maliki and a number of senior officials. Cabinet spokesman Ali Al Dabbagh described the visit as important given that Iraq seeks good relations with Iran yet without Tehran’s interference in Iraq’s internal affairs. Al Dabbagh stressed the necessity for Tehran to respect Iraq’s choice to establish relations with any state.

Meanwhile, the United Sates is cautious about Ahmedinejad’s visit to Iraq. US State Department spokesman Sean McCormack affirmed that the US does not impose on Iraq a list of visitors. He added that both countries have the right to take similar decisions, hoping Iran would seize this opportunity to voice a positive stand in Iraq.

Iran President due in Baghdad on March 2 | Iraq News | Alsumaria Iraqi Satellite TV Network

Zebari asks to send Arab Ambassadors to Iraq

Iraqi Foreign Minister Hosheyar Zebari called on Arab countries to send ambassadors to Iraq, saying it was “embarrassing” that most countries have failed to do so after five years of toppling the former regime. Zebari added he believes the decision not to send top-level diplomats was politically motivated, while confirming that a number of Arab countries such as Egypt, Saudi Arabia, Kuwait and United Arab Emirates have pledged to reopen their diplomatic commissions in Iraq.

Zebari asks to send Arab Ambassadors to Iraq | Iraq News | Alsumaria Iraqi Satellite TV Network

And so it goes on.......

Barazani: Oil contracts with foreign companies do not breach constitution

Kurdish Prime Minister Nechirvan Barzani announced that the oil contracts with foreign companies don’t contradict the constitution and stressed that Baghdad centralism in decision taking ended. From Seoul, Barazani pointed out that a contract will be signed with Korean Companies after 2 months.

In the same context, economic forum in Al Sulaymaniah held a press conference in order to discuss legal dilemmas set off by the fact that Kurdistan Government signed oil contracts with investment companies.

Barazani: Oil contracts with foreign companies do not breach constitution | Economics News | Alsumaria Iraqi Satellite TV Network

Funny,

This saga never ends over who can or cannot sign oil agreements through Kurdistan officials. When will this tit for tat ever end? lol

Good luck to all, Mike

Lee vows to support Iraq's reconstruction efforts

President-elect Lee Myung-bak said Thursday that his incoming government will contribute to economic reconstruction and development projects in Iraq, including in its northern Kurdish region.

Lee, who will be sworn in on 25th February, made the remark while meeting visiting Prime Minister Nechirvan Barzani of the Kurdistan Regional Government at his office in downtown Seoul. Barzani is in Seoul to sign a memorandum of understanding with a consortium led by the Korea National Oil Corp on cooperation and partnership in infrastructure construction and oil field development in the Kurdish region.

"I was in the Kurdish region long before and have a special interest in it. I'm convinced Korean enterprises will greatly support the region's development in the future," said Lee, referring to his travels to Iraq while serving as CEO of Hyundai Engineering and Construction decades ago.

"The Kurdish area is rich in oil resources. I hope the regional government will continue to give a lot of business opportunities to Korean companies," said the president-elect.

In response, Barzani expressed gratitude at the dispatch of Korean troops to Iraq and confirmed his intention to capitalize on the abundant experiences of Korean companies in the area by maintaining close relations, according to Lee's aides who attended the meeting.

"The Kurdish people regard Koreans as part of their society and family. My government intends to form closer relations with Korean enterprises in the future," Barzani was quoted as saying.

Lee vows to support Iraq's reconstruction efforts | Iraq Updates

Lower demand for the dollar in daily auction

Demand for the dollar dropped significantly in the Iraqi Central Bank's auction on Sunday, the first session this week, registering at $36.675 million compared to $47.945 million on Thursday.

"The demand hit $6.205 million in cash and $30.470 million in money transfers outside the country, all covered by the bank at an exchange rate of 1,210 Iraqi dinars per dollar, unchanged for the nineth session in a row," according to the central bank's daily bulletin which was received by Aswat al-Iraq- Voices of Iraq- (VOI).

The 12 banks that participated in the auction offered to sell $4.700 million, which the bank bought at an exchange rate of 1,208 Iraqi dinars per dollar.

In statements to VOI, Ali al-Yasseri, a trader, linked the lower demand for the dollar to the decline in governmental remittances and purchase bids.
The Iraqi Central Bank runs a daily auction from Sunday to Thursday.

Lower demand for the dollar in daily auction | Iraq Updates

$82 million for land bank to increase its loan facilities

The Iraqi Ministry of Finance will grant the Land Bank $82 million in a bid to boost its loan facilities, the finance minister said on Sunday.

"Minister Baqir Jabr al-Zubeidi ordered that 100 million Iraqi dinars (1 U.S. dollar=1,223 Iraqi dinars) be given to the Land Bank to increase its ability to grant loans," according to a ministerial statement received by Aswat al-Iraq, Voices of Iraq, (VOI).

The statement was issued following the minister's meeting with a number of ministerial advisors, Iraqi bank directors and Baghdad governor.

During the meeting, the minister called on the bank to expand its land loans to citizens and gave instructions for the formation of a committee headed by the general inspector and director of the Land Bank and al-Rasheed Bank, in addition to legal experts, to develop a plan for the establishment of a residential compound for the ministry's employees.

$82 million for land bank to increase its loan facilities | Iraq Updates

Oil minister remarks opening joint Kuwaiti oil field

Oil minister Hussein Shahrastani denied that Iran used the common oil fields of Majnon eastern north of Basra saying that they would forming a common committee with the Iranian side to sign an agreement ensuring investment the common fields between the two sides.

On the other hand, he witnessed digging of two common oil well with Kuwait from Rumaila field as one of the common well with Kuwait state, emphasizing that they would digging other 18 well through the few coming days.

Meanwhile, oil ministry specified 500 000 liter of white oil to Karbala' province in the occasion of 40 days of mourning Imam Hussein.

Oil minister remarks opening joint Kuwaiti oil field | Iraq Updates

OPEC Hints At Output Cut If Supply Rise Continues

The Organization of Petroleum Exporting Countries said Friday weakening world economic growth and demand prospects and ongoing increases in U.S. and European crude and gasoline inventories could soon force the producer group to pare back its own production to avert a drop in crude prices.

"These unfolding developments in the world economy and the oil market warrant close monitoring in the months ahead to ensure a timely response to changing conditions," OPEC said.

The group, in its February oil market report, said current production from all 13 OPEC nations currently stood at about 32 million barrels a day. This level should result in rising global oil inventories in coming quarters.
Such stock increases were already apparent in the U.S., where commercial oil and gasoline stocks are now back above the five-year average following a steady draw down in December, OPEC said.

The group, whose output meets about four out of every 10 barrels consumed globally every day, shaved its forecast for 2008 global oil demand growth by 100,000 barrels a day to 1.2 million barrels a day, representing a rise of 1.4% from 2007. Total crude consumption globally this year is expected at 87 million barrels a day. OPEC is scheduled to meet March 5 in Vienna to review its production policy. Analysts say the group will find it tough, politically, to reduce output, even amid weakening demand and rising oil inventories, if oil prices remain above a lofty, $90 a barrel level because of global economic uncertainty.

Crude traded Friday down around 40 cents at $95.15 a a barrel at 1200 GMT as dealers cashed in recent gains.

OPEC left production unchanged when it met earlier February, saying global oil supplies were healthy and high prices were related to geopolitical issues, not oil market conditions.

OPEC is decidedly less optimistic on oil demand than other forecasters, including the International Energy Agency. The Paris-based IEA revised down its 2008 global oil demand forecast Wednesday but still sees crude consumption rising this year by 1.9%, a half-percentage point above OPEC's forecast.

Added to its bearish outlook, OPEC said demand for its crude was expected to be even less in 2008 relative to its forecast in January following a revision to 2007 data.

The group said daily consumption of OPEC oil this year was now forecast to be 375,000 barrels less than in 2007, compared with an expectation for a drop of 307,000 barrels a day in its January report. Total demand for OPEC oil is expected to average 31.53 million barrels a day in 2008.

OPEC production minus Iraq, the only OPEC member that isn't part of the group's quota system, was 29.79 million in January, up 136,000 barrels a day from December. Including Iraq, OPEC output last month averaged 31.99 million, unchanged from December.

Saudi Arabia, OPEC's de facto leader due to holding most spare production capacity, pumped 9.08 million barrels a day in January, up 100,000 barrels a day from December and 140,000 barrels a day above the kingdom's output allocation under OPEC's quota system, according to OPEC data.

OPEC Hints At Output Cut If Supply Rise Continues | Iraq Updates