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

Update........

Iraq involved an Investment Conference in Prague

Geco establish economic organizations in the Prague Congress investment and industrial and commercial cooperation with the Iraqi embassy in Geco for the period from the 15 until the 17 of this September.

The Vice-Chairman of the Baghdad Chamber of Commerce, Mahmoud Alloush in a press statement today, Saturday, that the dissemination of investors and Iraqi businessmen will participate in the conference aimed at strengthening the relationship with similar bodies in the Geco.

Alloush pointed to the possibility of participation of companies and investors in the Republic of Geco investment programmes after activating the Iraqi investment law, which means abundant and diverse support and facilities for foreign investors wishing to invest in Iraq.

Alloush He added that the Iraqi delegation composed of businessmen, industrialists and traders from Baghdad and other governorates, and invested in quality Jikia to meet with Arab Bureau Geco Chamber of Commerce as well as the cities of Prague and Brno.

Translated version of http://www.radiodijla.com/cgi-bin/news/news_item.pl?id=2008-09-13%2007:41:31

Central Bank Adviser: inflation and determine the amount of the reserve policy of supporting the dinar

Central Bank adviser said Dr. Mohammed Saleh appearance: that the bank relies on the determinants of its policy to support the Iraqi dinar's exchange rate against the dollar, is the amount of reserves and the rate of inflation in the Iraqi market, indicating that the support rate of the dinar is one of the methods that absorb inflation.

The benefit: that the bank used to support the exchange rate of the dinar against the dollar as an instrument to absorb inflation in the Iraqi market, by increasing the purchasing value of local currency against the dollar, which reduces the impact of inflation is relatively. He pointed out that there were two specific govern this process, the first being the amount of dollar cash reserve in the Central Bank, the second is the ratio of monthly inflation

He continued, Saleh said: The amount of reserve and the monthly inflation rate "is in the light of determining the amount of support the Iraqi dinar exchange rate." He explained that "the retreat in demand for the dollar due to the drop in prices at rates more than the previous situation is temporary and subsided over time, and the interest that result from the lifting of the dinar's exchange rate, much higher than the temporary side effects weak influence on the movement of the Iraqi market."

The decline in the volume of total demand to buy the dollar over the five sessions of the Iraqi Central Bank auction this week, recording a total demand amounted to 421 million and 555 thousand dollars against 583 million and 15 thousand dollars in meetings last week. With record demand rates retreat from the general rates of demand during the current year, with the rate of demand for buying the dollar this week 84 million and 311 thousand dollars, the lowest rate in the current year which reached the limits of 120 million dollars, according to sources Central Bank of Iraq.

The former Planning Minister and member of the House of Representatives Mahdi Al-Hafiz, said: "The Iraqi monetary policy is inconsistent with the needs of the current economy and that there is an inconsistency between the prosecution drastic decline in the inflation rate and the reality of the situation in the domestic market, expressing his belief that real inflation is still high dramatically Certainly what is said about that reform has been in monetary policy is questionable scale.

Translated version of http://www.almadapaper.com/paper.php?source=akbar&page=107

Iraq announces conclusive results in additional adjustments to the commercial debt

A statement issued by the Ministry of Finance announced on Saturday that Iraq's results critical to reopen the settlement offer existing debt during the rule of the former regime of trade receivables to the public sector of Iraq. The statement added that got (long) a copy of it: that (85) creditor commercially involved in the new offer and agreed to conditions similar to previous offers of cash settlements of Iraqi debt based on the value of net financial conditions and Paris Club countries to settle the debts Iraqi government in November 2004.

The efforts have borne fruit in the settlement of $ 1.2 billion worth of commercial debt in the re-opening offers in addition to the $ 19.7 billion worth of commercial claims have been settled in previous presentations, has become the amount that Iraq adjustments of $ 20.9 billion of debt Business.

These are part of debt "from the large debt burden which the Iraqi people because of wars fought by the former regime against neighboring countries and against the Iraqi people since in 2005 participated 576 creditor "commercial" in the settlement of debt resulted in resolving the debt (13164) creditor commercially.

The statement confirmed that Iraq has to settle the commercial debt since the fall of Saddam's regime through a radical solutions to the debt relationships with more than 58 countries.

Translated version of http://www.almadapaper.com/paper.php?source=akbar&page=107

The credit card between savings and investment

Ever on the credit card circulation in most countries of the North and South, long beyond the half-century, without Iraqi citizen knows nothing about, so the definition of financial paper that was inevitable because it will be in the near future establishment of a mission from God workshops circulation cash alternative that Abbreviating the time and effort side of the risks of pregnancy prevention and troubles transfer money from one place to another, along with assistance in slowing the pace of turnover in the money supply helps to alleviate inflation, which is linked to the size of the money supply and rapid ROI.

On the grounds that inflation in direct proportion to the size of the money supply, which in turn is commensurate with the other directly proportional to the speed of the session, where volume of money supply in circulation increased significantly faster in turn leads to high rates of inflation .. The use of a credit card is necessary and of the benefits of a vehicle without the misdeeds or consequences.

Every credit card as a paper of local financial instrument similar to or ratified suspicion of dealing with difference, acceptance, similar to the meet and discharge .. Instrument or certified check is limited in the deal, is abuse in institutions and departments of specific and described in (government) other than credit card, which can be traded at all joints domestic economic activity, since the card features mentioned small size and ease of carrying the side of multiple categories.

As progress must speed up the issuance of the card, and speed up a campaign that preceded the definition of eligible by the Monetary Authority represented the Iraqi Central Bank's (hand version) and the banking sector, both public and private institutions in addition to the Ministry of Finance.

Dealing credit card phenomenon of modern evolution Painting the financial and banking system and improve the functionality of money especially in light of the consequences of many problems facing the national economy and individuals alike resulted from the wars and ordeals and the economic blockade and terrorism, is the need to put up with him for deliberation as soon as possible and extensively with effect from Employees of the banking system via its two affiliated ministries and departments of State and corporations, to be known and accepted by all citizens born after informing them of the barrier and remove the fear of abuse, what makes the card deal that coincided with the monetary authority steps represented the Iraqi Central Bank's efforts to limit the manifestations of inflation and raise cash The performance of the national currency (the dinar) through improved exchange rate against other currencies.

Translated version of http://www.almadapaper.com/paper.php?source=akbar&page=107

Saudi conflicting signals bedevil OPEC production reduction agreement

Raises conflicting signals from Saudi Arabia questions about whether the largest oil exporter in the world to curb production as agreed with other OPEC members this week. Saudi Arabia and more influentialmembers of OPEC agreed on Wednesday an agreement to reduce production by about half a million bpd after oil prices retreated from a peak of over 147 U.S. dollars per barrel in July to just over $ 100 .. Any reduction would primarily the responsibility of Saudi Arabia, which produces most of the additional quantities above the OPEC target. But analysts say concern about the impact of rising fuel prices on the economies of the United States the largest consumer of energy in the world and other senior Saudi consumers might prevent the implementation of the reductions

He said Mike and Thinner energy analyst with Societe Generale "construed to be always what it wants the Saudis but the fact that they do not seem satisfied with the resolution put a question mark (at the OPEC cuts)."

He went on to say "there are political considerations and is Saudi Arabia and other OPEC members moderates real concern that, while not causing high oil prices on economic Altbatu but pregnancy plus on the economy."

But he added that he expects the Saudis to reduce their production in the end.

The newspaper owned daily life of Saudis, said the report did not mention his source on Thursday that Saudi Arabia does not intend to reduce production because of its commitment to meeting the demand for supplies of crude.

He did not make the Saudi Oil Minister Ali al-Naimi's statements since the OPEC agreement which was reached in the early hours of Wednesday on the commitment to the goals of the organization of production.

Before the meeting of the Organization Naimi said that Saudi policy will continue to meet all the demand for oil from customers.

The Gulf source said high: it is unlikely that consumption is a big retreat before the second quarter of the year 2009 and expected to continue to Saudi Arabia pumping near its current rate stability in the case of demand.

On the other hand, insisted Shukri Ghanem, Chairman National Petroleum Corporation Jamahiriya, who said repeatedly that the market is at risk of supply exceeding demand in statements to Reuters on Thursday that OPEC would reduce production.

After the height of one dollar for a brief period following the OPEC decision to kick oil prices on Thursday lowest level in five months, over $ 100. And prompted fears that Hurricane Lake disrupt the oil sector U.S. crude prices upwards on Friday and analysts said that the market is waiting for concrete indicators to reduce production and Saudi.

Translated version of http://www.almadapaper.com/paper.php?source=akbar&page=107

Political Council to declare stance from SOFA

The Political Council for National Security is going to hold a meeting in the near future in order to discuss the U.S response on the Iraqi government proposals regarding the items of SOFA.

The Council will also announce in the meeting its stance from the agreement. This was uncovered by Zahra al-Hashimi, the member of the Iraqi Parliament in a statement to al-Sabah newspaper.

Al-Hashimi also said “The Political Council will discuss the U.S response on the Iraqi proposals in detail in order to take a unified patriotic stance, either to refuse the response or to agree with clarifying whether the agreement is in accordance with the government requirements or not and will the agreement preserve and achieve the complete national sovereignty and the interest of the Iraqi people.

http://pukmedia.com/english/index.ph...=6444&Itemid=1

Iraq ready for new talks with U.S. and Iran: Minister

Iraq is prepared to restart talks with the United States and Iran, and is checking with both sides to see if a fresh round can be scheduled, Iraqi Foreign Minister Hoshiyar Zebari said on Sunday.

The United States and Iran, which have not had diplomatic ties for almost three decades, held three rounds of talks last year on ways to help end violence in Iraq. Washington accuses Tehran of aiding Shi'ite militias, a charge the Iranians deny.

A fourth set of ambassador-level talks has been repeatedly postponed by Iran. The talks are one of the few forums in which officials from the arch-foes have direct contact.

"We are ready to resume these talks provided that both sides will agree to that. Recently the Iranians have made some statements that they are willing to resume these talks, and we will go back to the United States, to the Americans, to see if they have this interest," he said.

"If conditions are suitable the Iraqi government would be delighted to resume these talks," the minister told a security conference in Geneva.

Zebari also said a premature withdrawal of U.S. forces could plunge his fragile country back into violence.

"There is a genuine and continued need for the multinational forces," said Zebari, who stressed the recent troop surge gave his government "a critical window of opportunity" to focus on other goals like providing basic services to the Iraqi people.

"We have turned a potentially huge corner," he said. "What we have now is fragile and not durable. What we do next is critical to the viability and endurance of any hard-won gains we have made."

Zebari told journalists on Saturday that Iraq and United States have agreed on a draft security pact with "aspirational dates" for U.S. forces to leave Iraq's cities by summer 2009, and for the Iraqi forces to take over in 2011.

But even in a best-case, he said a small number of U.S. forces could stay on beyond 2011 in a transitional role.

"Whatever happens I think you won't fix a date or draw a line where all the forces will withdraw. There will be a need for some forces, for some training, for coordination as a residual force," Zebari said.

The foreign minister said in his remarks on Sunday that the Iraqi parliament would either ratify or reject the status of forces deal, but did not specify exactly when this would occur.

"We now have a single text that must be subject to a political decision for the Iraqi government to accept," he said.

The United States plans to pull 8,000 troops out of Iraq by February, leaving a force of 138,000 there.

http://pukmedia.com/english/index.ph...=6450&Itemid=1

Skinner: Kurds by surprise objections to the SOFA and hope not to be political, and the Kurds not to require agreements with neighboring countries
Spokesman said the Iraqi government to Skinner in contact with the «life» to «Kurds important element in Iraqi society and therefore we hope that no objections to the new security agreement based on political differences

He explained that «Kurds were soon to exhort the Government to sign the Convention have not raised any objection to the roadmap». He added: «should not be linked objections Kurdish political differences with any of the parties agree that official interest everyone enjoys the overwhelming support and acceptance».

The Attorney-Saadi Alborznge from the Kurdistan Alliance bloc in parliament demanded on behalf of his bloc in statements yesterday to write off the second paragraph of Article 23 of the security agreement to be signed between Baghdad and Washington, which gives Iraq the right to hold similar agreements, it «does not serve the interest of the Iraqi people» to Him without mentioning that the write-paragraph aimed at preventing Iraq from signing a similar agreement with each of Turkey or Iran.

The aware that the tension in the relationship between the Kurdish parties and the Iraqi government because of Kirkuk and the electoral law which affected the entire political process, while justified Kurdish source early position that the Kurdish new «Kurdish fears of Baghdad's government contract agreements with Ankara, Tehran and other countries to undermine the gains Kurdish» to end He said.

It became clear recently that the Kurdish parties in the government is trying to use their cards to pressure to ensure the failure to achieve broad coalition supporting the Iraqi government to undermine the powers of their territory with semi-autonomous Kurds prominent politicians repeats accusations against the Maliki government to go to «dictatorial rule» in the management of Iraq's Shiites and their allies to Abandon the building on earlier gains Kurdish.

The second paragraph of Article 23 of the security agreement that «Iraq's right to replicate this type of security agreements with other countries at any time and in various areas of economic, political and border».

The Kurdish Parliament Speaker Adnan Mufti demanded earlier in the prevention of the weaponization of Iraq's advanced weapons only after approval by the Kurds, against the backdrop sought Iraqi Ministry of Defense to make a deal for modern planes with the United States.

For his part, the government source refused to reveal his name said that «objections Kurds came late« l explaining «life» that «these objections will not affect or hinder the signing of the agreement if it were a final agreement on all items».

He added: «it seems that the Kurds felt that this item be detrimental to their future, especially as the dispute over Kirkuk issue remains unresolved because the law of provincial council elections».

Amid tension between Baghdad and Arbil called «solution Kurdistan Democratic Party» in a statement yesterday, the Kurds to withdraw from the Iraqi government and the House of Representatives.

A statement of the party, which is considered one of the earliest Kurdish parties to the PKK in Turkey «We call on the Kurdish representatives in Baghdad to withdraw from the political process because this will strengthen the democratic principles of the Kurdish people».

He said homes Ghraib spokesman for the Democratic Party solution «life» «believe that the Kurdish representatives in Baghdad to withdraw from there as long as the Iraqi Constitution remains the case in terms of scarcity of the principles of democracy which contains many loopholes contained». He added: «This call came after it suffered all of the profound differences that existed between the Kurdistan province and Baghdad».

The statement of the party had indicated that the «Iraqi Prime Minister Nuri al-Maliki seeks to solve PESHMARGA forces in the north after spending the Mahdi Army and Badr Corps and the imposition of control over the central and southern Iraq», adding that «al-Maliki and his government have been unable to take control of Kirkuk and Khanaqin at the present time However, after six months or year would be able to control Kirkuk and Khanaqin and even Irbil, Dohuk and Sulaymaniyah».

http://66.102.9.104/translate_c?hl=e...uei9KjJN-c6a5A

Announcement of the imminent arrival of the total amount disbursed for projects in 2008

Abdul Razzaq al-Nasraoui Chairman of the Committee for projects in the governorate of Babil Associate artistic governor of Babylon on the percentage of completion of projects in 2008 which accounted for 30.5% of financial achievement or artistic achievement rate has reached 36%.

Nasraoui and expectation that the remaining months of this year will witness a rise in the proportion of achievement in the work delayed the completion point of reference to the Ministry of Finance and stop funding projects because of the depletion PROFILE financial and obtained by maintaining 20% so far out of one and two hundred and forty billion and seventeen million dinars have been taken to preserve Including payment of amounts have been equivalent to almost 48 billion dinars have been covered some of the shortcomings of the amounts of recycled in 2007.

Translated version of http://www.almadapaper.com/paper.php?source=akbar&page=107

To re-examine the law of Bremer about the indiscriminate importation of the Committee .. economic recommend the reintroduction of customs Tariff

Chairman of the Federation of Industries said that the Iraqi committee set up by the Council of Ministers to examine what was known as the Special Law Bremer stop customs tariff law was lifted its recommendations, calling for speeding up the adoption of the draft re-Tariff work as a means of protecting the national economy.

The authorized Hashim Al-Atraqchi, "a book published by the Council of Ministers (did not mention the date of issue) provides for the formation of a committee of representatives of concerned ministries (Industry and Trade, Finance and others) as well as major Iraqi Federation of Industries and the Federation of Iraqi Chambers of Commerce to reconsider the law No. 54 of Bremer in 2004 about Import Tariff and customs to stop work.

He added that the book also included "Identification of all operations of import and export fundamentalism leave by the governmental bodies concerned, as well as a mechanism for the law regulating customs tariffs and meet the targets adopted for."

He went on to say: As a book called the Council to place all the procedures for imports to the Central Identification and quality control laboratories and other similar regulatory authorities. The Al-Atraqchi to complete its work and determine mechanisms to implement the Directive Council of Ministers, as a response to complaints by the technical and economic specialist monitored in case the economy of Iraq has been seriously damaged by policies which faltered on the random chaos of imports.

He commented on what transpired from Bremer said: "We have had a direct bearing on the organ imports all the episodes of industrial and agricultural productivity and service.

Between: Undoubtedly, the unemployment suffered by Iraq's most prominent economic crises were a natural result of the cessation of production, as well as the large influx of goods from poor origins, which found refuge in the Iraqi arena are no longer a citizen of the acquisition is not only cheap-eighths of them, but only because no other alternative.

Turning Al-Atraqchi: to money laundering operations that existed in those actions have paved the ground.

He stressed that restoration of state institutions custodians interests of its people and national wealth that should be met as the best way to restore balance and fairness of every citizen of the defect. "

The Iraqi industry and the requirements of the awakening of saying: "The soft loans approved by the State is no doubt that it is encouraging workers to resume the production cycle.

He added: We wrote to Mr. Prime Minister, asking them to the importance of issuing exemption for industrial projects from taxes for ten years assured industrialists to regain breath. "

He said: The adoption of such a situation in various countries during crises, wars and disasters, especially the many crises that still face the crisis on the industrial and electricity imports indiscriminate left by the Special Tariff Act customs.

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