Thread: Archive Latest News - Think Tank - 15/04/08 - 26/08/08

The Ministry of Finance will disburse the salary increases according two stages for the next 6 months

The Ministry of Finance, declared on Wednesday, that the increases of salary grades which were approved for the next six months will be disbursed according to two stages, this first in September and the second in January of next year.

A statement by the Ministry, as saying that "this action was meant to absorb inflation, which happened in the market due to casting the current cash, and to meet the obligations of Iraq for the International Monetary Fund."

The statement denied all reports and news about cancellation of new salary grade, and returning the salaries state of employees to what it was previously.

The ministry continues in distributing the differences within a new salary grade for those who have not received any increases over the last six months."

The statement explained that the stoppage will not enclose the benefits approved within the new service law of university during the next four months, and that the postponement will include increases of employees salaries within the new grade schedule .

The Ministry of Finance will disburse the salary increases according two stages for the next 6 months

The Iraqi Government showed its readiness to manage the abolishment of oil for food program

The Government announced its readiness to manage negotiations to abolish the oil for food programme, while a United Nations Secretary-General Ban Ki-moon suggested to the Security Council a number of options for ending the outstanding issues program that was discontinued by the year 2003 after the Security Council starts to abolish the international embargo on Iraq Since the year 1990.

Ban Ki-moon clarified in a letter sent to the Council: "The review of some documents relating to the programme is very slow and it had to form a working group to meet on the issue last June," pointing out that "132" letters of payable credit to the value of "237" Million Dollar are still abeyance. He noted that "the working group discovered that some suppliers under the program have confirmed the delivery of goods at a time when the Iraqi government demanded cancellation of credit letters granted to them." The working group proposed according to a letter published by Moon on the website of the international organization, several options for ending the program, one of them is continuing to work on the rest of pending documents of the transactions relating to letters of credit, and to perform a new mechanism to end the deal conflict with outstanding issues or transfer of funds and the managing responsibility for any activities of the programme to the Iraqi government, in this case the government would be responsible for submitting a report every four months for the Security Council on progress of ending the program, the team report pointed on the government's willingness to take this responsibility. It should be noted that the food-for medicine that had begun in December of the year 1996 aimed at balancing the results of economic sanctions by allowing Iraq to sell oil to buy food, medicine and other humanitarian needs, and ended after the year 2003. And the ****ution of this program had witnessed involvement of hundreds of companies and personalities in suspicious transactions with the former regime, in addition to granting bribes to officials on the programme to dabble in deals.

The Iraqi Government showed its readiness to manage the abolishment of oil for food program

Demand increases on Iraqi dinars in Egypt with expectations of price rising

Egyptian banking market is currently in a state of struggle to buy the Iraqi dinar by some individuals in the hope of achieving profits by increasing expectations of an official price within two years at most in the repetition of the scenario occurred with the beginning of the Iraqi political and security crisis , and the issuance of new Iraqi dinars following the E.x.e.cution of former Iraqi president Saddam Hussein, followed by the efforts of some people to buy Iraqi dinars to achieve substantial profits.

In this context, the parliamentarians addressed early warnings to the Egyptian government against what they b.r.a.n.ded the Iraqi dinar chaos in the market calling for the government, Dr. Mahmoud Mohieddin, the Minister of Investment and politically responsible for the banking market, the disclosure of the government's plan to cope with the expected chaos, which would cause heavy losses For individuals and exchange companies.

Especially since it was more likely, according to experts bankers, the Iraqi currency continues to deteriorate in light of indicators showing that the U.S. occupation will continue for years after Washington ruled out to withdraw its troops at the present time. The thousands of individuals have sought to collect the greatest possible of new Iraqi currency reached a price of 20 thousand Egyptian pounds for each one million Iraqi dinars, pending to the coming period if the price would rise in the banking market again.

Demand increases on Iraqi dinars in Egypt with expectations of price rising

$47 million for 347 projects approved by Industrial development

The Iraqi general directorate for industrial development approved 347 industrial projects, with a total investing cost of 52.561 billion Iraqi dinars (around 47 million U.S. dollar), the Iraqi Ministry of Industry's media director said on Monday.

"During June 2008, the general directorate for industrial development approved 347 industrial projects throughout Iraq, with a total cost of 52.561 billion Iraqi dDinar," Hanan Jassim told Aswat al-Iraq - Voices of Iraq - (VOI).

"The approved projects covered different industrial fields," she said.

"The directorate also examined another 117 frequent industrial projects," she noted.

Aswat Aliraq

Official urges national banks to engage in investment activities

The ****utive director of the Union of Iraqi Banks on Tuesday called on national banks to carefully consider the new policies that they are supposed to adopt in dealing with their financial surplus.

"It is necessary to carefully consider the new challenges that force banks to develop more flexible programs in determining loan interests, in addition to initiatives to boost investment…," Abdelaziz Hassoun told Aswat al-Iraq- Voices of Iraq- (VOI).

Hassoun said that he expects the Central Bank of Iraq (CBI) to give clear and detailed instructions "that will provide guidelines for private banks on how to adopt the new policies, which economists believe will help resume production and boost economy."

http://www.aswataliraq.info/look/english/article.tpl?IdLanguage=1&IdPublication=4&NrArticle =89090&NrIssue=2&NrSection=2

Cabinet agrees to set up 100 schools

The Iraqi cabinet on Tuesday approved to set up 100 elementary schools in Iraq’s provinces, except Kurdistan region, at a cost 139.150 billion Iraqi dinars ($124.352 million) to be implemented in 180 days.

“The cabinet agreed to organize a tender to establish 100 elementary schools in a quick way in Baghdad,” the official spokesman for the Iraqi government Ali al-Dabagh said in a statement received by Aswat al-Iraq - Voices of Iraq - (VOI).

“The total cost of the project will reach 139.150 billion Iraqi dinars,” he also said.

Prime Minister Nouri al-Maliki had ordered the higher council for construction to build new schools instead of the schools built by clay throughout Iraq.

Aswat Aliraq

Lower demand for the dollar in daily auction

Demand for the dollar was lower in the Central Bank of Iraq's (CBI) auction on Tuesday, registering at $140.715 million compared to $168.190 million on Monday.

"The demand hit $31.715 million in cash and $109 million in foreign transfers outside the country, all covered by the bank at an exchange rate of 1,187 Iraqi dinars per dollar, one tick lower than yesterday," an official source from the bank told Aswat al-Iraq - Voices of Iraq - (VOI).

The 15 banks that participated in the auction offered to sell $2 million, which the bank bought at an exchange rate of 1,185 Iraqi dinars per dollar.

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

Aswat Aliraq

ENI and Iraqi oil officials discussed new projects

The largest group of oil and gas in Italy (ENI) announced that the senior officials of ENI and the Iraqi Oil Ministry met on Saturday in Baghdad to discuss future cooperation in the field of oil and gas.

ENI clarified in a statement: "the meeting focused on possible cooperation in specific projects of certain sectors in the source and refining, drilling and transporting oil and gas in Iraq."

The statement did not mention any other details.

ENI is one of the 35 energy company which Iraqi government stated in June that it had qualified to compete for long-term contracts for the development and exploitation of oil fields.

The ****utive President of ENI (Paolo Askaroni) said previously that the company will participate in tenders in Iraq and aims to open an office in Baghdad.

http://www.iraqdirectory.com/DisplayNews.aspx?id=6686

Jordan’s King Makes Visit to Iraq

On Monday, King Abdullah II of Jordan became the first Arab head of state to visit Iraq since Saddam Hussein's regime collapsed in 2003, the latest sign that Iraq's Sunni Arab neighbors are strengthening ties with its Shiite-led government.

During Abdullah's brief, unannounced visit to the capital, he met with Prime Minister Nouri al-Maliki and Vice President Adel Abdul Mahdi, to express his support. The top issue on the agenda was Jordan's oil needs.

The king later issued a statement urging other Arab nations to reach out to Iraq.

The visit is a major step for Iraq's Shiite-led government, which has been largely isolated from its mostly Sunni Muslim Arab neighbors.

Iraqi Foreign Minister Hoshyar Zebari called Abdullah's visit a "bold step" and said he hoped other Arab nations would follow suit. "The visit was short, however with a great political significance. It was a historic visit," Zebari told Iraqi **********.

He said Abdullah's arrival showed that Arab nations were recognizing that Iraq is "starting to rise again."

U.S. Embassy spokeswoman Mirembe Nantongo said the U.S. hoped it would spur other Arab and world leaders to visit Iraq, send ambassadors here and step up cooperation with the country.

The Arab nations of Kuwait, Bahrain and the United Arab Emirates have recently promised to send ambassadors to Iraq. Abdullah, an important U.S. ally in the region, announced recently that Jordan will reopen a full embassy in Baghdad.


PUKmedia :: English - Jordan’s King Makes Visit to Iraq

Salah al-Din signs contract to build first civilian airport

Salah al-Din province on Monday signed a contract to build the first civilian airport in the province with a consortium of Iraqi and Turkish companies. The project will be financed in accordance to the Iraqi investment law in 2006.

"A contract was signed to set up a civilian airport in Tikrit with Iraqi and Turkish companies," Governor Hamad Hamoud al-Qessi said at a press conference held at the city hall.

"Representative of the Turkish Dika company in Iraq Omar Taha signed the contract for the project, which is considered complementary for the airports in Iraq and considered the only civilian airport in the province," he explained.

For his part, the Deputy Governor Abdullah Hussein Jabara said during the ceremony "the project will contribute in transforming the province into another stage in implementing the investment projects and will be a cornerstone in several huge investment projects."

"The project will be built in accordance to international standards after receiving the approval of the Iraqi civilian aviation authority."

The airport is located 10 km east of Tikrit, the capital of the province. The airport is one of the old and simple military airports, established during the Iraqi-Iranian war.

Salah al-Din has an area of 24,751 square kilometers (9,556.4 sq mi). The estimated population for 2003 was 2,146,500 people.

The provincial capital is Tikrit, 175 km north of Baghdad. The province also contains the significantly larger city of Samarra. Before 1976 the province was part of the governorate of Baghdad.

It is named after Saladin (written Salah ah Din in modern Arabic), an ethnic Kurd and hero of the 12th century. Salahuddin province is a variant version of the province's name.

Salah al-Din signs contract to build first civilian airport - Middle East News