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

Talks between Kurdish and Iraqi officials see considerable progress

PUK Deputy Secretary General, Barham Saleh, said that today’s meetings between the Kurdish and Iraqi officials saw considerable progress in moves towards addressing the recent tension emerged in Khanaqin and its environs between the Iraqi government and the KRG.

“Today’s meetings were held in a positive atmosphere. We reached several points in moves towards settling the crisis. There is a hope that our ongoing negotiations reach an outcome that can restore stability in Khanaqin and its environs,” Barham Saleh stated in a press release after the meetings.

It was decided that the joint meetings will continue to find an ultimate solution for the tension.

PUKmedia :: English - Talks between Kurdish and Iraqi officials see considerable progress

Bahrain formally appoint an ambassador Salah al-Maliki in Iraq

Appointed Bahrain's King Sheikh Hamad bin Isa Al Khalifa, Sunday, Salah al-Maliki Bahrain's ambassador in Iraq, according to a report the official Bahraini news agency. The Bahraini press, speaking on the ninth of July profits for the appointment of the diplomatic ambassador in Baghdad, pointing out that he takes over his duties soon. Al-Maliki said that traveling to Iraq will be immediately after the announcement of the section in front of His Majesty the King. He expected to be based in the Green Zone in Baghdad despite the security improvements, which witnessed the great Iraqi capital during the recent period. In doing so, becoming the third Gulf State of Bahrain appoint an ambassador in Iraq after the United Arab Emirates and Kuwait. Al-Maliki was holding at the United Nations in New York, will be the first ambassador to Bahrain in Baghdad since the year 2003.

Translated version of http://www.hewarat.dk/hewarat_data.php?sid=9942

Affirmation of the importance of taxation in Economic Development

The economic expert, Dr. Majid Image sector taxes supposed to contribute in the state budget, while recalling the importance of the banking sector in economic development processes in the country despite the difficulties it faces.

He pointed out that the image resource development requires an expansion of tax sources and tax base of productive and service projects, at the same time must improve the means of tax collection, especially through the implementation of the e-government, at the same time, we have to develop awareness of the tax to the taxpayers, and this will not be But the existence of full transparency of the use of these resources and how to manage and dispose of them, including the eradication of corruption in this area.

It is understood that the fiscal policy in both countries play an important role in economic and social development, in order to promote national production, play the tax policy and other factors specifications and standards, a large role in determining or changing the direction of the State Economic and protect the local product, without prejudice to the terms of the Convention on International Trade Organization, Which seeks Iraq to join it.

Up to now No Iraqi specialized institution to control the operations of commodity and price dumping, and identified actions or fighting it. There is no fiscal policy with regard to importation and exportation, not fiscal policy integrated with respect to income (salaries and profits) in line with phase through which Iraq. On more than once raised the successive governments impose a tax on circulation, which was not consistent with the current economic situation of the Iraqi people.

He added that the puppet tax rate increase in budget revenues needed to activate the productive process and the elimination of actual and disguised unemployment in order to activate the role of the state in the regulatory process and service and increased private sector role in the process of economic and productivity in particular for increasing state revenue.

Movement of Capital Market

The image to the Iraqi banking sector, and its role in supporting the Iraqi market, and noted that Iraq today there are 39 banks in which government and eligibility, and has more than 600 branch throughout Iraq, has served the Iraqi Central Bank to increase the minimum capital during the previous years From 10 billion dinars to 25 billion dinars, and then to 50 billion dinars for banks list, either for banks which will be the minimum requirements for capital has risen to 100 billion dinars, all of this, in addition to other actions by the Central Bank for Development The banking sector and increase its role in economic activity in Iraq and lift the levels of global banking industry.

The Banking Act put all banks in the activity level and one did not differentiate between investment banks and Islamic banks and specialized banks and public banks, although much has been achieved by some banks from the existing achievements in various fields, but that its role in economic development continues to Ajriki to the required level, because of the economic situation General, the inability of some banks to improve management and technical performance, lack of banking culture among some banks on one hand, and among the public and users of banking services, on the other. The monopoly of the Iraqi Trade Bank banking Foreign significantly affect the role of commercial banks in the Iraqi market, despite various decisions involving government and private banks in foreign trade, but that all banks still suffer from full activation of non-action in this area. The current stage of evolution of the Iraqi economy, required to activate the role of specialized banks (agricultural, industrial, real estate) and countless role in the process of economic development in their respective fields, and work on the focus of all investment funds earmarked for the development of these sectors in these banks, and management in cooperation with ministries and agencies Other organs, especially with the private sector, within a plan studied and integrated.
Talking about banks and their role in boosting market economy requires a complete study could not explain in answer to these questions.

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Maliki to send draft US-Iraq Pact to Parliament

Iraqi Prime Minister Nuri al-Maliki said that the draft long-term strategic agreement between Iraq and the US will be sent to the Iraqi parliament within the next 10 days to be discussed and ratified.

The statement came as the prime minister paid a visit to the speaker of the Iraqi parliament to ensure his health condition.

Prime minister said that both sides have wrapped up the draft agreement while Iraq is waiting for a response from the US concerning certain new suggestions pertaining to protecting the sovereignty of Iraq. He also said that final decision for adopting the agreement lies in the hands of the Iraqi parliament.

PUKmedia :: English - Maliki to send draft US-Iraq pact to parliament

Higher demand for the dollar on Mon

Demand for the dollar was up in the Central Bank of Iraq's (CBI) auction on Monday, registering at $159.450 million compared to $96.365 million on Sunday.

"The demand hit $21.41 million in cash and $138.04 million in foreign transfers outside the country, all covered by the bank at a stable exchange rate of 1,183 Iraqi dinars per dollar, same as yesterday," an official source from the bank told Aswat al-Iraq - Voices of Iraq - (VOI).

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

Aswat Aliraq

Saeed Jalili: Iraq security tied to Iran

Iraq's stability and security is tied to the Islamic Republic, says Secretary of Iran's Supreme National Security Council Saeed Jalili, PressTV reported.

"Iran's strategic outlook on Iraq is based on strengthening stability and security in that country," Jalili said whilst addressing a delegation of senior Iraqi media representatives in Tehran on Sunday.

He added that world powers change the reality of ongoing events in their own favor and manage the public opinion in a way to serve their own interest, and highlighted the role mass media play in ties between nations.

The SNSC secretary called on Iraqi media to prepare the ground for constructive cooperation between regional countries, which would assist the development of the Iraqi nation.

Iran and Iraq have significantly improved their relations since the fall of former Iraqi dictator Saddam Hussein, who imposed a devastating eight-year war on Iran.

Senior officials of the two neighboring countries have exchanged many visits, including a landmark visit by Iranian President Mahmoud Ahmadinejad to Baghdad in March 2008. It was the first visit to Iraq by an Iranian head of state.

Following Ahmadinejad's visit, a new chapter opened in Iran-Iraq ties. Iraqi President Jalal Talabani and Prime Minister Nouri al-Maliki subsequently paid return visits to Tehran.

In recent years, the two countries have signed various agreements that have led to a higher level of trade, industrial, and cultural cooperation. Trade between Iran and Iraq is expected to rise to $4 billion by the end of March 2009.

PUKmedia :: English - Saeed Jalili: Iraq security tied to Iran

Conflicting statements over Khanaqin crisis

Conflicting statements between Kurdistan and Baghdad are mounting over Khanaqin crisis on account of Iraq Army’s right to enter any region while Kurdistan officials consider that this region is a disputed area. While Army military units headed to Khanaqin, sources from the Defense Ministry said that deployment awaits the decision of Prime Minister Nuri Al Maliki.

Meanwhile, head of Kurdistan presidency endowment Foad Hussein revealed that the delegation from Kurdistan which convened yesterday in Baghdad with Prime Minister Nuri Al Maliki will hold negotiations on a number of disputed points including Khanaqin issue. Hussein told Al Sharq Al Awsat Newspaper that negotiations need more than one session.

For his part, Prime Minister’s media adviser Yassin Majid described talks with the Kurdish delegation over Khanaqin crisis as transparent and honest. It is to be mentioned that the delegation includes the general secretary of Kurdistan Patriotic Union Barham Saleh and the union’s political member Foad Maasoum as well as members of Kurdistan Democratic Party’s political office Hosheyar Zebari and Roz Nuri Shawes.

Conflicting statements over Khanaqin crisis | Iraq News | Alsumaria Iraqi Satellite TV Network

The Presidency of the Republic to ratify the supplementary budget in 2008

Sadik of the Presidency of the Republic, Monday, the supplementary budget bill for fiscal year 2008, after it was approved by the House of Representatives.

He said a statement issued by the presidency, received the Independent News Agency (Voices of Iraq) a copy of which was that "the Council presidency sincerely at its meeting today (Monday), the supplementary budget bill to the Federal Assembly for fiscal year 2008 based on what was adopted by Parliament in accordance with the provisions of Article 61 First, Of the Constitution, based on the provisions of paragraph (a) of the fifth item of Article 138 of the Constitution. "

The statement said that "supplementary federal budget revenues amended estimated 8476 billion and 109 million and 193 thousand dinars."

The Iraqi government submitted to the House of Representatives during the month of July last July, a draft supplementary budget for the current year, which amounts to 21 billion dollars.

The general budget of the State, which was approved by the House in February last February, more than 48 billion dollars, an increase of 18 percent from last year's budget.

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Bank opened a branch north-west of Baghdad

The Director of the Bank of the High North, that the bank was opened, Sunday, a new branch west of Baghdad, noting that it will be opening another branch east of the capital during the next two months. He said Munther Qaftan: The North Bank was opened today (Saturday) branch in Harthiya area (east Baghdad) and is currently working on opening another branch in a beautiful neighborhood (east Baghdad) during the next two months. Qaftan He added that "the improvement in the security situation called for banks civil and commercial companies to open branches in Baghdad and other governorates," noting that his bank obtained approvals from the Iraqi Central Bank to open branches in the governorates of Anbar, Karbala, Najaf and Basra.

The Bank of the North issued yesterday, Saturday, including Tgariraalavsah semi-annual financial statements for its activities during the first six months of this year, until June 30, 2008, The report concluded achieve annual profits of the bank amounted to 6.614513 billion dinars.

It is the main centre of the north bank in Baghdad, which was founded in 7/10/2003, one of the eligibility of the 25 banks which are engaged in banking and credit along with government-owned banks operating.

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

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Implementation of 177 contracts valued at more than 823 million dinars

Is still the banking sector leads the list of other sectors size of the market circulation of the meetings of the Iraq Stock Exchange as it seemed obvious to investors and dealers in the long-term investment and private buying and selling shares you have to ensure the future of the banking sector away from other sectors that have not seen any improvement in performance and size of selling and buying private sector and Agricultural and industrial shares as investors awaited the hotel sector and tourism; seen as a market for securities Iraq on Sunday for the last trading session for the month of August of this, as has been the circulation of shares (21) joint-stock company exceeded the number of shares (536) million shares valued at more than (823) Million dinars achieved through the implementation (177) contract issued,

All the usual distinguished banking sector at gaining its highest circulation in terms of the number of shares traded (97.4%) and trading volume (89.1%) and hotels sector has ranked second in terms of the number of shares traded per (1.2%) and in terms of trading volume rate (9.9%) While shared insurance sectors, investment and industry ratios remaining circulation and have not been dealing in services and agriculture sectors.

The meeting had been marked by stability indicator index for insurance sectors, investment and hotels at the same rate points at the previous meeting and the decline in the benchmark rate for banks sectors (0,064%) and by industry (0,025%). In this market index dropped by General (0,076%) when the Nikkei (38.982) Points.

The contracts for non-Iraqis have been implemented (8) contracts for non-Iraqi Chamber of stock in companies the banking sector only exceeded the number of shares traded them (10) million shares worth exceeded (13) million dinars.

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