Thread: Archive Latest News - Dinar Think Tank - 27/08/08 - 15/01/09

Talabani: achieving security & stability in Iraq is linked to achievement of national unity

The President Jalal Talabani to achieve security and stability in Iraq is linked to the achievement of national unity, also stressed that the referendum on the Convention does not violate the Constitution.

Talabani told a news conference held after his arrival at Sulaimaniya airport late yesterday, Monday, the decision is made by Parliament and that the referendum is unconstitutional and will be on time.

And between the Convention does not called the Security Agreement, but hostile to the Convention which they name, stressing that the agreement called the (agreement to withdraw U.S. troops from Iraq), indicating that it contains several sections of the economic, technological, cultural, political, and security is a small section Within the Convention on the withdrawal of troops.

And on guiding objections to the performance of Prime Minister Nuri al-Maliki, Maliki, Talabani told my friend and is the holder of the vote of confidence, and like any human being is a positive achievements and there may be disadvantages, but now has the confidence of the fundamental forces in Iraq and enjoys the confidence of Parliament.

And that concerns about the presidency and the Kurdistan Regional Government welcomed the establishment of U.S. bases in the region, he said, "was female, this is not the intent, purpose, as explained later Massoud Barzani, is that if the Iraqi government approved an agreement signed with the United States, to establish temporary bases to the Americans that Withdraw, I do not mind that one of the bases in Kurdistan. "

And, with respect to the passage of the Prime Minister in his work on the formation of councils despite the support of the Presidency to send a message in this regard, Talabani said "is holding his opinion and said that the formation of these councils is a legal, and we will be appealing to the Federal Court to see whether it is legal or not ".

Talabani stressed that achieving security and stability in Iraq up to the unity of political forces and the Iraqi national unity government representing all powerful, all-inclusive in the exercise of power, indicating that this Maokdh also at the meeting of Prime Minister Political Council for National Security, said he believes if Achieved this task, security and stability will prevail Iraq. "

And on the outlook for the future of relations between Iraq - America under Barack Obama, Talabani said "I believe that relations between Iraq - American and consolidated prosper under President Obama, and I want to tell you that we have good friends in the U.S. administration, including Deputy Joseph Biden President and Defense Secretary Robert Gates and Secretary of State Hillary Clinton, must be assured that we have friends in this administration from the outset, and also have military official, General Jones also our friends, and historically, we relations with the Democratic Party is a good relationship."

http://209.85.171.104/translate_c?hl...Ah9bQrRgJG25wA

Economic stresses need for government regulation of oil contracts & defining powers of provinces

Stressed the need for an economist to play a central government role in the organization of oil contracts and defining the powers of provinces and regions.

The economic researcher Osman Abdel Karim told the independent press (Entcha) today, Tuesday, the Iraqi central government's final word in determining the issue of contracts by international norms is only right and the ratification of supplements to contracts between them and international companies in addition to the extension of the development contracts for long periods of time and adjust wages The transfer of crude oil.

He said it was better to move the House of Representatives for passing a law to extend the ratification of the Convention include the development and production sharing contract amendment and other laws that underpin the functioning of the central government. Indicating that it is possible that this resolution to strengthen the work of government security and economic aspects.

He said as cream of international law has no right to any province or territory or part of a separate entity to act imports Acayam financial or mineral extraction and marketing of isolation from the center, which must be consulted in case of need or financial security.

Karim warned of what he called "private" or county, province, and restrict certain riches for him without informing authorities of the government. Saying that this will encourage other provinces to act on individual asset in addition to weakening the central government.

It should be noted that specialists and economists made clear in interviews seriousness of fateful decisions by the province or territory without reference to the government.

http://209.85.171.104/translate_c?hl...Emv5pOBGIKh2Zw

My computer has been playing merry hell with me for the last couple of weeks. I have ordered a new one which arrives tomorrow (Thursday). So I will be off for a couple of days while I sort it out to how I want it.

Be back on with the news at the weekend.

Agreement to export oil from Kurdish fields collapses

An agreement to allow Kurds to export up to 100,000 barrels of oil a day via national pipelines has collapsed, Oil Ministry officials said.

The officials, speaking on condition of anonymity, said differences over collection of royalties and the Kurdish region’s right to strike oil deals on its own led to the collapse of the deal.

Oil Minister Hussain al-Shahristani and Kurdish Region Prime Minister Nejervan Barzani agreed last month on the export of oil produced from fields within the Kurdish enclave.

The Kurds want to have a say in the foreign cash in return of exporting oil produced in their region and also have the sole responsibility in developing oil fields.

Shahristani has turned down both requests, saying the collection of royalties and signing of contracts must the prerogative of the central government.

Disparate Arab political factions, both Shiite and Sunni, are said to have united behind Shahristani.

In a press conference, Barzani lashed out at Shahristani for recent comments that Kurds must rescind the deals they have signed with foreign firms.

Barzani said those deals would not be revoked and that the Kurds were determined to export oil on their own.

It is not clear how the Kurds could do that as countries neighboring their region – Syria, Iran and Turkey – have said they would not let the Kurds do so without central government approval.

The twin-pipeline carrying Iraqi crude to Turkish terminals on the Mediterranean passes through Kurdish territory but the Kurds cannot disrupt Iraqi exports of nearly 400,000 barrels via that pipeline.

Kurds now get 17% of foreign cash Iraq earns on its oil exports.

http://www.azzaman.com/english/index...12-03\kurd.htm

Oil: the second oil licenses will be held in the coming days

An official source at the Oil Ministry that the second session of the licensing contracts for the operation and development of oil fields in Iraq will be held in Baghdad during the month of December of this.

The source told the independent press (Iba) today, Wednesday, the ministry announced in Baghdad on the investment licenses of the fields again after the first licenses won by 35 foreign companies and to be followed by a third session held hopefully the middle of next year.

The ministry has Bembagesat with five international companies known since the end of last year on developing the fields has received initial offers of these companies, updated and forwarded to the Cabinet for approval.

He Almsdraly it would be within the ministry's plan to put Iraq's oil sector projects for Arab and foreign investment every six months, the number of fields does not exceed the eight fields of oil and gas, adding that the first licenses was finalized and signed contracts with leading global companies to invest 6 The oil fields and two gas.

The Oil Minister Hussein Shahristani said that there is an integrated strategy adopted by the ministry begin rehabilitation and development of structures and cadres and the expansion of production volume and improve the modern technology and large refining capacity building.

http://66.102.9.104/translate_c?hl=e...v0Dqz89kBK40hw

Abbadi: Saudi Arabia refuses to Iraq to join the Gulf Cooperation Council

According to a member of the House of Representatives Haider Abadi, one of the reasons not to join Iraq to the Gulf Cooperation Council is Saudi Arabia's rejection of the new political situation in the country.

Abbadi stressed that Saudi Arabia had not yet decided to deal positively with the democratic political process in the country is the only country that did not yet have diplomatic relations with Iraq until an acting degree.

Abadi called for Riyadh to change its position, especially with the situation of openness and the Arab world in Iraq during the past period, adding that the recent security developments have contributed to impose the rule of law and achieving security and stability in all regions of the country is Maibtal some allegations that the security situation is the reason behind the non-adherence to Iraq Gulf Cooperation Council.

http://66.102.9.104/translate_c?hl=e...0LXeKykerHBZYg

Bank of smart card is good for pensioners and social protection network

Bank initiated the creation of Babil good procedures for smart card for retirees and social protection network, said a source at the Rasheed Bank, more than 17 thousand citizens covered by the program for smart card for use in receiving their salaries through bank instead of good old way in which the salaries were suffering Especially for retirees that most of them elderly, noting that the number of retirees who will be paid cards to more than 15 thousand retirees, as well as 200 of the network covered by social protection and then spent the rest covered, respectively, indicating that the coming period will set a date for the extradition of declarations made Of the social safety net through the smart card after the completion of all required procedures in this regard.

He said the purpose of the adoption of smart cards is to reduce the momentum in the bank and facilitate the work flow and the bank as well as a cultural phenomenon that is being handled in the most advanced countries in the world.

http://translate.google.co.uk/transl...hl=en&ie=UTF-8

Support Specialist Banks .. Support for development

The main shell banks to pool financial surpluses of units saved and direct those resources to units of the fiscal deficit and the outcome provide liquidity necessary for the conduct of the operational activity or growth, expansion and development. Thus Vlbannok a leading role in the implementation of fiscal and monetary policies to the country through the exercise of certain credit policies designed to achieve the outcome fiscal and monetary policies of the country.

* Banks and specialist form of bank financing specific economic sector to a certain medium or long term often in the form of loans and investments.

Different banks and specialized commercial banks in three major aspects in terms of sources of money, and uses, the overall goal.

In terms of the source of commercial banks to adopt current deposits, savings and mainly rely on the small capital of possessing unlike the specialist banks that rely heavily on their capital or borrow from others.
In terms of uses, the commercial banks often Matmanh short-term credit to various sectors, especially in trade which, while focusing its banks specialized in funding to specific economic sectors (agriculture, industry, real estate, etc. ..).

In terms of objective commercial banks aim to maximize profits in the first while focusing on specialized banks, the development of the sectors concerned.

In the current situation of the Iraqi Laguetsad and the distinctive features of the specialized banks in terms of both the objective or the use of resources to support the view that the specialized banks is an urgent need in particular to the goal of economic development is a primary objective of the ... The narrow productive base and delay and the need to finance medium-and long-term and concessional terms and makes banks mechanisms specialist at the forefront of the banks are able to contribute to the transfer. And specialized banks in the current financial situation in unable relying on its own to achieve that goal unless there is proper government support.

This support is cumulative effects on medium and long term capital, production, operation and the elimination of unemployment and the overall development process forward. In our view, the modest main axes of the forms of government support for the specialized banks can take various forms, most notably at the present time:

A - Support capital of specialized banks
That the banks would suffer from an imbalance in the sources of funding where the government deposits in most of the bulk of the funding sources compared to capital .. Which limits its credit, which is medium-term and long term, reliance on third deposit will be largely to its high volatility, the presumption of exposure to deposits and withdrawals in times of great activity will be close to paralysis if not the sudden collapse.

B - that the banks would support long-term government loans
Strengthening the liabilities of these banks Bmtlobac addition to the long-term capital and one of the fixed liabilities, it will add capacity and credit and enable them to engage in wide activity greater flexibility.

C - the central bank easing standards of financial health at least the current phase to be retained by banks specialized in particular with regard to capital adequacy, and calculating the risks and legal reserve requirements and investment ratios and the relative financial contributions of capital.

That the availability of government support above with the leadership of the senior management of these banks have a comprehensive vision of how to manage those financial institutions and professionals, experience and efficiency and be able to absorb all the changes and adaptations, and has the capacity to develop credit policies and adopt a clear and substantive plans in the development, implementation and provide a preventive Swdi Necessarily contribute to the economic development process, which we all ******.

http://www.almadapaper.com/paper.php...page&sid=56676

Economic Commission meeting..Redraw 2009 budget on the basis of $50 per barrel of oil

Chaired by Finance Minister Bayan Jabr a meeting of five ministers and senior adviser to the prime minister, on Tuesday, with a number of Iraqi experts and discussed the possibility of redrawing the budget in 2009 on the basis as the rate of $50 per barrel of oil, as well as the impact of the global financial crisis and lower oil prices and ways to support The private sector, according to a statement of the Ministry of Finance .. Obtained a copy of which was long. The statement said that the economic commission meeting chaired by the Minister of Finance and attended by the Ministers of (oil) and (planning) and (electricity) and (industry and minerals) and (trade) in addition to the Chief Adviser to the Prime Minister and a number of experts in the Central Bank and the Office of Financial Supervision and the Ministry of Finance to ensure - Discuss plans for the sustainability of the Iraqi economy.

In addition to redraw the balance in 2009 on the basis of calculating the price of a barrel of oil at 50 dollars a barrel and a daily export capacity of up to (2) two million barrels per day.

During the meeting, was also discussed by the global financial crisis that began acute effects appear to Iraq through lower world oil prices after the price of a barrel of oil exported from Iraq 35 to $40 per barrel while he was sold at $140 a barrel.

The statement said among the topics discussed during the meeting of ministers urged ministries and provinces to press the costs and increase production and the sustainability of projects and provide better services to citizens, as well as to explore the theme of "supporting the Iraqi private sector to take active role in the process of construction, age and absorb manpower Iraq" for the purpose of " Curbing unemployment and benefit from the ages ".

The statement was reiterated by the advancement of religious tourism in Iraq, which is an important source of budget support, in addition to the advancement of projects and services and opening new horizons for cooperation with the countries of the world, through the "investment in all fields," especially since the Iraqi arena and in accordance with the statement "to accommodate International companies in the field of energy, electricity, health, water and sanitation projects and the establishment of residential compounds."

http://www.almadapaper.com/paper.php...page&sid=56673

Slump in dollar demand in CBI auction

Demand for the dollar was down in the Central Bank of Iraq’s (CBI) auction on Wednesday, registering at $134.445 million compared to $168.735 million on Tuesday.

“The demand hit $31.445 million in cash, covered by the bank at an exchange rate of 1,178 Iraqi dinars, and $103 million in foreign transfers outside the country covered by the bank at an exchange rate of 1,175 Iraqi dinars per dollar, according to a CBI news bulletin.

None of the 12 banks that participated in today’s session offered to sell dollars.

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

Slump in dollar demand in CBI auction : Aswat Al Iraq