Thread: Archive - Latest News Think Tank - 15/01/09 - 04/05/09

Iraq seeking contractor to revamp pipeline via Syria

The Ministry of Oil is seeking foreign help to repair a rickety pipeline linking Iraqi oil fields to terminals in Syria, an official said.

The ministry’s Information Officer Assem Jihad said sections of the pipeline have corroded and needed replacement.

“The ministry has issued tenders for companies willing to do the repairs which will have to be carried out in coordination with the Syrian authorities,” Jihad said.

The ministry had contracted a Russian firm for the repairs but Jihad said the Russians reneged on promises and agreements to do the job.

If repaired, the pipeline should carry at least 200,000 barrels of Iraqi crude daily to international markets, the official said.

The pipeline is the oldest in Iraq and was constructed several decades ago to ship crude from northern fields of Kirkuk to Europe via Syria.

But the country’s domestic network is capable of ferrying crude produced in the north to the south and vice versa.

http://www.azzaman.com/english/index...02-23\kurd.htm

President Barzani reiterates commitment to Iraqi constitution

Kurdistan Region President Masud Barzani on Sunday, Feb. 22, met with the top U.S commander in Iraq General Raymond Odierno, in Saladin Resort.

They discussed the Iraqi situation in general, Odierno emphasized his and the U.S administration support to Kurdistan people, and expressed his delight to the ongoing developments in Kurdistan region. He also talked about the military operations launched by the U.S and the Iraqi forces to crush terror and outlaws.

President Barzani reiterated the KRG commitment to the Iraqi constitution which he considered it the basic source to define the destiny and rights of all.

http://pukmedia.com/english/index.ph...=9480&Itemid=1

President Talabani: Iraq is to step up reconstructing infrastructures

Korean gas company and Korean national oil company held a dinner banquet on the honor of Iraqi President Jalal Talabani and his accompanied delegation in the presence of Korean officials, businessmen, investors and heads of companies today February 23rd, 2009.

President Talabani emphasized Iraq’s will in promoting relations with South Korea. He mentioned that Iraq is ready for reconstruction its infrastructures, due to the security developments and political successes in the country.

President Talabani said that there are several fields for joint cooperation with Korea, especially in the fields of oil, gas, minerals, trade and other fields like defense and security.

On his part, the head of Korean Gas Company welcomed President Talabani and emphasized the necessity of developing the friendship relations between Iraq and South Korea republics.

He expressed the Korean companies’ readiness to develop oil, gas and electricity fields and reconstruct in several fields in Iraq. He hoped the continuous development for Iraq.

http://pukmedia.com/english/index.ph...=9487&Itemid=1

Iraq Minister of Planning warns from oil prices drop

Minister of Planning Ali Baban warned that the drop of world oil prices will negatively affect the income of Iraq Treasury especially as big industrial countries tend to rely on alternative energy sources.

http://www.alsumaria.tv/en/Economics...ices-drop.html

US Forces study means to pull out from Iraq

David S. Perkins, spokesman for the Multi-National Force in Iraq said that multinational forces are studying establishing a mechanism in order to withdraw US forces from Iraqi cities as the deadline that was appointed to withdraw the US forces approaches. On the other hand, Perkins pointed that Iranian arms are still flowing to the country in spite of the common efforts exerted in order to prevent them from getting into Iraq.

http://www.alsumaria.tv/en/Iraq-News...from-Iraq.html

Minister of Planning: the Central Bank Auction smuggling of Iraqi funds

"The Minister of Planning and Development Cooperation Ali Baban, on Monday, the Central Bank daily auction was "smuggling" of the Iraqi funds abroad.

The Baban told (Voices of Iraq) that "the five weekly meetings convened by the Central Bank of Iraq for the sale and purchase of the dollar amount of the auction, which is divided between domestic demand and overseas remittances is the process of smuggling money abroad to Iraq at the level of the neighboring Arab countries and foreign countries."

"The Central Bank issued by the daily low and high demand for the dollar in daily auction, and the value of the amounts transferred to the outside are the amounts of smuggled Iraqi official by the bank for a few dinars to cast a shadow on the disastrous flight of the Iraqi economy after the money, which is the result of weakness in the economic philosophy. "

The Minister of Planning that the "Iraqi funds, which are smuggled through the auction and the offices of the Central Bank is the banking sector funds to create a successful mega-projects, most recently in Jordan and Syria, at a time when the country needs capital for the advancement of this economic reality."

He pointed out that "the abundance of Iraqi funds was reflected in the rising real estate market in Iraq, while the decline in the market of the world, that Iraq possessed of enormous wealth, along with political stability and security that is now taking place after a break from the outside world", and expressed his hope that " This stability is reflected economic reality."

Baban and called for "the need for the Government to develop facilities for a large Iraqi private sector and foreign investment in Iraq and prevent the smuggling of money out of the country."

The agency tried to Voices of Iraq (VOI) officials at the Central Bank to comment on the subject, but to no avail.

http://74.125.79.132/translate_c?hl=...PF65eZ7tn6_9ZQ

Industry Minister: we will sign trade and economic agreements with South Korea

"The Minister of Industry and Minerals Fawzi Hariri Franco from South Korea, Monday, the visiting Iraqi delegation will sign a number of economic agreements and trade relations with the Korean government.

The minister told (Voices of Iraq) that "The purpose of our visit to South Korea was the signing of agreements in the areas of trade and economy, will also be signing an agreement between the Kurdistan Overnmpakulaim and the Korean government to open up the possibility of cooperation between the airports in Irbil and Seoul."

The Iraqi President Jalal Talabani today to the South Korean capital Seoul at the head of a high-level official delegation comprising a group of ministers and parliament members and directors of companies, as well as the Prime Minister of the Kurdistan Regional Government Nechirvan Barzani, will meet on Tuesday, according to the official source of information facilities of the president.

Recall that the Prime Minister of the Kurdistan region of Iraq Nechirvan Barzani went to the South Korean capital Sunday afternoon Arbeel also to join the Iraqi delegation.

http://74.125.79.132/translate_c?hl=...kIComlxwoRxrVQ

Central sales rise to 143 million dollars in the canteen

the U.S. dollar sales of the Central Bank in an auction for the sale and purchase of foreign currencies, on Monday, to reach 143 million and 340 thousand versus $ 49 million and 278 thousand dollars at the previous meeting.

The bulletin issued by the Central Bank and the Agency has received (Voices of Iraq) a copy of which was that "the total volume of demand for the dollar stood at 143 million and 340 thousand dollars, a stable exchange rate was 1170 dinars per dollar."

The figure is up from the previous meeting, which recorded a total volume of demand for the dollar stood at 49 million and 278 thousand dollars at the exchange rate was 1170 dinars per dollar.

The Bulletin that "the demand for the dollar is distributed at 48 million and 940 thousand dollars in cash, covered by the bank at the exchange rate was 1176 dinars per dollar, including the central bank and a commission of six dinars per dollar."

According to the bulletin, "the value of remittances outside the country reached 94 million and 400 thousand dollars, covered the central exchange rate was 1173 dinars, including the central bank and a commission of three dinars per dollar," did not make any of the 14 banks participating in the auction, offers to sell the dollar.

http://74.125.79.132/translate_c?hl=...QtVyhRMRywMADg

Maliki calls for accelerating the work of Japanese oil companies in Iraq

Prime Minister Nuri al-Maliki, on Monday, to accelerate the work of Japanese oil companies in Iraq.

This came during a meeting at his office in Baghdad said the official delegation of the Alliance group of Japanese companies headed by Fu Mayaki Taree and the presence of the Japanese ambassador to Baghdad, Shoji, Italy, also said in a statement issued by the Information Office of the Prime Minister.

The statement said Maliki invited the guests to "play which you have been holding meetings with the Oil Ministry to expedite the work of oil companies, and we will direct the Ministry to provide facilities that help you to perform your duties," stressing "the government's keenness to develop relations with Japan in all fields, especially economic."

The Prime Minister said that "The Iraqi people have great confidence in Japanese companies, and we are keen on the work of these companies in Iraq and their contribution in the reconstruction process in the areas of oil extraction and development of oil fields in addition to the support of the electricity sector."

Said "the delegation expressed the willingness of Japanese companies to work in Iraq, especially projects that will take place in the province of Dhi Qar to increase production of crude oil and petroleum products, in addition to contributing to the increased production of electricity."

According to the statement, the new "Japan's support for the Iraqi government and its support in all efforts for the security, stability and prosperity of Iraq, and standing at his side in the process of developing the Iraqi economy."

http://74.125.79.132/translate_c?hl=...iMK4nXTbuM558A

Bantrzi Adviser: Iraq is committed to the policy of liberalization of current accounts

adviser said the Central Bank of Iraq, on Monday, said Iraq was committed to the liberalization of current account of balance of payments, which prohibits any restrictions on foreign transfers, except anti-money laundering and funding crime and terrorism, stating that the holder of the Iraqi dinar had a right to act how he wants it.

The appearance of Mohammed Saleh told (Voices of Iraq) that Iraq "is committed to the liberalization of current account of balance of payments, according to the rules of the International Monetary Fund Convention, which forbids any restrictions on transfer, except for anti-money laundering and money crime and terrorism," he said, adding that such measures "is the monetary policy to create a liberal atmosphere of the future investment, Fajraj currency will be a free draw to enter again, and if we have restrictions on the exit of the currency will be no freedom of entry. "

Saleh added that "," holder of the Iraqi dinar is the right, which is denominated in foreign currency, and may dispose of it how he chooses, "and that under the" economic freedom, which adopts the rules of Iraq's economic practice without restrictions, with the exception of economic crimes. "

The Minister of Planning and Development Cooperation Ali Baban, he told Voices of Iraq (VOI) on Monday, the five weekly meetings convened by the Central Bank for the sale and purchase of the dollar is the process of smuggling of Iraqi funds abroad, and that the money smuggled through the auction and the offices of the central banking is the private sector funds for the establishment of successful large-scale projects, most recently in Jordan and Syria.

The adviser said the central bank said the auction mechanism of action, "The auction of the coin is the central charge of the move this money, has three duties, the first is to finance the foreign trade of the private sector and the adaptation of the second level of liquidity and therefore the face of inflationary pressures," the third one is "the lifting of the Iraqi dinar value increased by 25% during the last three years ", which he considered" a major asset for the Iraqi people, lift the purchasing power of the dinar and well-being after the citizen has suffered decades of decline in the value of the dinar. "

Saleh said, "We do not deny that the transfers and the rights may not be full of trade, but the rights of citizens can not put restrictions on those rights," because, "holder of the Iraqi dinar is the holder of wealth is the right to act however he wants this wealth."

The benefit of that "the issue of distribution of wealth is not the purview of monetary policy," and out of money, "he is subject to security conditions that prevailed in Iraq and fear of people to the citizens their money", in addition to "the presence of immigrants in large numbers, Iraqis, especially the neighboring countries and to determine the conversion process would mean the creation of black markets outside the scope of the law and non-control "

He concluded his speech by saying that "these things are not easy or trivial, and it cost, but the price of sacrificing our economy to build a free Iraq and evolving."

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