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

Iraqi Political Council to Hold Extraordinary Meeting

Political Council for National Security, which includes the high-ranking Iraqi officials, is to hold an extraordinary session in the next few days to discuss the Iraqi-American agreement and the suggestions of solving Kirkuk’s crisis in the provincial elections law.

In a press statement to al-Hayat newspaper, the leadership in the Iraqi Accordance Front Omer Abdul Sattar said “it is expected that the political council members will hold an extraordinary session to discuss several issues including the agreement with US. The agreement won’t be signed soon, because of several problems that still exist. The major problem is to set a timetable for the withdrawal of the American forces. Other problems are: The immunity and authority of the American soldiers, and whether they will be limited according to the Iraqi or American law.”

On the other hand, the MP Mona Zalzala from the Unified Coalition said “the extraordinary meeting will be held on the request of Hashim al-Taiee, the head of the Regions’ committee at the council to find a final solution for the Provincial Elections Law. The council is expected to solve the elections law, Kirkuk issue and the agreement with US.”

PUKmedia :: English - Iraqi Political Council to Hold Extraordinary Meeting

Iran ready to offer technical services to Iraq – minister

Iran's energy minister said his country was ready to offer technical services to Iraq in the fields of energy and electricity, expressing content with the current level of cooperation between the two neighboring countries, according to Iran's news agency Fars.

"Iranian experts, who acquired a good know-how in setting up power stations and extension of high-pressure lines, are ready to offer their experience to their Iraqi counterparts," Pervez Fattah said after receiving visiting Iraqi Electricity Minister Kareem Waheed.

Iraqi Deputy Premier Burham Saleh had paid an official visit to the Iranian capital Tehran on Wednesday, leading a delegation that comprised Waheed, Trade Minister Abdelfalah al-Sudani and other government officials.

Saleh met with Iranian President Mahmoud Ahmadinejad and other Iranian officials to discuss means to activate economic agreements and supplying Iraq with electric power as well as other topics of mutual interest.

Fattah said the Iranian companies were ready to participate in the international tenders in Iraq to launch projects in the spheres of energy, water and sewage.

Waheed, for his part, praised as "distinguished" relations binding Iraq and Iran, noting the Iraqi government is welcoming cooperation with the Iranian companies, reported Fars.

Waheed had told Aswat al-Iraq – Voices of Iraq – (VOI) on Friday that the two countries signed an agreement to provide Iraq with 4500 megawatt of electricity.

"Iranian companies will carry out a project of a power station with a capacity of 320 megawatt in the eastern Baghdad district of Sadr City," he said, adding that Iranian companies have also finalized designs for another power station in al-Hadariya area, Najaf province, 180 km southwest of the Iraqi capital Baghdad as a gift for the Iraqi people.

Aswat Aliraq

Iraq to participate in Slovakia conference mid-Sept.

An Iraqi delegation will participate in a trade, economic and investment conference, which is scheduled to take place in mid-September in the Slovak capital to shed light on the Iraqi economic situation, the head of the regional office of the Arab Importers and Exporters Union said.

"The conference, which will be held in Bratislava in the period September 15-23 under the auspices of the Slovak ministries and Chamber of Commerce and in cooperation with the Iraqi embassy in the capital, aims at discussing the economic situation in Iraq…," Thabit al-Baldawi told Aswat al-Iraq- Voices of Iraq- (VOI).

Investment deals will be concluded to boost the Iraqi economy, Baldawi noted, adding that a large number of Iraqi and Slovak businessmen will take part in the conference.

Commenting on the efforts made by the regional office of the Arab Importers and Exporters Union, based in the Iraqi capital Baghdad, Baldawi said that the office mainly aims at implementing investment programs and reviving the Iraqi economy.

Aswat Aliraq

Chamber of Commerce urges industry players' participation in intl. exhibitions

The deputy chairman of Baghdad's Chamber of Commerce called on Iraqi producers and traders to make the best use of international exhibitions to display Iraqi agricultural, industrial and craft products.

"Annual international exhibitions are stages to promote Iraqi products in the international markets, including dates, of which circumstances led to their deterioration," Mahmoud Alloush told Aswat al-Iraq - Voices of Iraq - (VOI).

"Unfortunately, Iraqi traders and producers overlook the role of international exhibitions in promoting different products and goods," Alloush noted.

"Baghdad's Chamber of Commerce has received invitations from the Ministry of Trade to participate in several international exhibitions, which are scheduled to be held in 2009," he added.

Alloush called on concerned traders, producers and industry players to head for the foreign relations department to receive all facilities in relation to their visa application.

Aswat Aliraq

Lower demand for dollar in daily auction

Demand for the dollar was lower in the Central Bank of Iraq's (CBI) auction on Sunday due to the al-Ziyara al-Shaabaniya pilgrimage, registering $26.330 million compared to $104.345 million on last Thursday's session.

"The demand hit $14.705 million in cash and $11.625 million in foreign transfers outside the country, all covered by the bank at an exchange rate of 1,187 Iraqi dinars per dollar, unchanged for the fourth session in a row," Madhahar Muhammad Saleh, a member of the committee supervising the auction, told Aswat al-Iraq – Voices of Iraq – (VOI).

None of the eight banks that participated in the auction offered to sell dollars.

The Iraqi Central Bank runs a daily auction from Sunday to Thursday.
"The demand on dollar plummeted due to the Shiite pilgrimage of al-Ziyara al-Shaabaniya," said Saleh, expecting the demand to "return to its normal rate on Monday or Tuesday at the most".

Official sources said nearly three million pilgrims flowed into the holy city of Karbala, 110 km southwest of the Iraqi capital Baghdad, on Saturday evening and Sunday for the al-Ziyara al-Shaabaniya, or the mid-Shaaban visit, pilgrimage to revive the memory of the birth of the Messiah-like Imam al-Mahdi, the 12th holiest figure for Shiites who was born in the Muslim Hegira calendar year of 255.

Shaaban is the month that precedes the holy fasting month of Ramadan on the Muslim Hegira calendar.

Aswat Aliraq

President Talabani to Visit Iran

It has been decided that President Jalal Talabani will visit Iran in the coming days.

In a phone call with Mr. Omar Nadhum, KRG representative in Tehran who emphasized the news to PUKmedia and said “the President’s visit was planned a while ago."

He added "the visit was postponed because of his travel to participate in the Socialists International conference in Athens and his travel to U.S. for medical treatment.”

Concerning the visit date, Mr. Omar said “the precise date hasn’t been decided yet. The visit will be carried out after the return of President Talabani from his trip to the U.S.”

PUKmedia :: English - President Talabani to Visit Iran

Head of Parliamentary Committee Calls on Iraqi National Security Council for Urgent Session

Head of parliamentary provinces committee, Hashim al-Taie, called on the Iraqi National Security Council to hold an urgent session for reaching a consensus concerning the provincial elections law that would be acceptable to all disputed parties.

“Most of the disputes over article 24 of the provincial elections law have been settled. The issue of provisions has yet to be solved. Delaying the election is not in the interest of anyone,” Hashim al-Taie said.

As he said, the US and British embassies keep watching the ongoing meetings among the Iraqi political parties while they have not yet reached an agreement.

PUKmedia :: English - Head of Parliamentary Committee Calls on Iraqi National Security Council for Urgent Session

Update........

Dana Gas Eyes First Gas from Northern Iraq in September

Dana Gas, the United Arab Emirates-based oil and gas company, will start natural gas production from a gas field in northern Iraq in September and is preparing to drill appraisal wells at a second field next year, a top company ****utive said Thursday.

The Abu Dhabi stock market-listed firm will start production of 75 million-cubic-feet-a-day of gas from the Khoomor field in the Kurdish region under an early production facility "next month," Finance Director Neeraj Agrawal told Zawya Dow Jones in a phone interview.

As part of the plans, Dana Gas is also building a liquefied petroleum gas, or LPG, plant, which will be completed by year-end and raise gas production to as much as 300 million cubic feet a day, Agrawal said.

"That will be a big boost," he said.

The gas from Khoomor will be transported via pipeline to feed power plants in the Kurdish region. Dana Gas is implementing the project in a 50:50 joint venture with Sharjah's Crescent Petroleum.

Dana Gas will also spend as much as $50 million on seismic surveys and appraisal wells, to be drilled next year, at the Chamchamal field in the Kurdish region, Agrawal said.

Start-up of the Iraqi operations will help boost the company's finances, according to Agrawal.

"From next year, it's full effect on cash and revenues will be felt," he said.

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Dana Gas Eyes First Gas from Northern Iraq in September

Economic situation led to money laundering in Iraq

Market and economy researchers blamed the conditions that surrounded the economic sanctions that were once imposed on Iraq and the U.S.-led invasion of the country for the emergence of money laundering.

Salem Abboud Mohammed, a researcher from the Center of Market Research and Consumer Protection in Baghdad University, told Aswat al-Iraq- Voices of Iraq- (VOI) that the economic embargo that was imposed on Iraq in the 1990s and its implications for the economic situation have paved the way for the emergence of money laundering.

The researcher urged the Central Bank of Iraq (CBI) to adopt clearer and more effective measures while dealing with the phenomenon.

Mohammed said that an integrated strategic system that depends on international, regional and local efforts might be useful in solving the problem.

Meanwhile, Sattar al-Bayati, a researcher from al-Mustansiriya Center for Arab and International Studies, said that the phenomenon started to appear in the 1930s with the emergence of the international economic crisis, and it hit Iraq in the aftermath of the 2003 invasion and subsequent bank robberies.

"The flowing liquidity was illegal and illegitimate…, which resulted in serious inflationary consequences that particularly affected the banks that were used to launder dubious money," al-Bayati said.

Aswat Aliraq

Finance Officials: Kurdistan’s Share of Supplementary Budget not yet Reached Parliament

The Kurdistan region’s share of the Iraqi supplementary budget (roughly 17 percent) has not yet reached Kurdistan region parliament, Jutiar Majid, head of parliamentary finance committee told PUKmedia.

The Iraqi supplementary budget was recently adopted by the Iraqi parliament. The secretary of Kurdistan region council of ministers said the budget should be first delivered to the KRG finance minister thereafter to the Kurdistan region parliament.

PUKmedia :: English - Finance Officials: Kurdistan’s Share of Supplementary Budget not yet Reached Parliament