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

Parliament: Kurdistan did not provide the federal budget, financial proceeds of the oil

A member of the Commission on oil and gas in the Chamber of Deputies Abdel Hadi al-Hassani, deputy to the Kurdistan Region had not provided the federal budget for the current year the proceeds obtained from financial investments oil.

He said al-Hassani, the province produces more than 100 thousand barrels per day and that the candidate brings to 180 thousand barrels a year-end and over the next two years to 450 thousand barrels, noting that these quantities do not know where to go and how to deal with them did not enter the budget.

For his part, denied the Kurdistan Alliance MP Mohammad Sharif constituting the proceeds of the Kurdistan Region Oil and responded to comments by al-Hassani said there was a commitment to the Kurdistan Regional Government under the Constitution, the oil imports due to all the people in the territory that may account for these resources.

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Lower demand for the dollar on Tuesday

Demand for the dollar dropped in the Central Bank of Iraq’s (CBI) auction on Tuesday, reaching $112.950 million compared to $119.715 million in the previous session.

“The demand hit $2.950 million in cash, covered by the bank at an exchange rate of 1,176 Iraqi dinars, and $110 million in foreign transfers outside the country, covered by the bank at an exchange rate of 1,173 Iraqi dinars per dollar,” according to a CBI news bulletin received by Aswat al-Iraq news agency.

None of the 13 banks that participated in today’s session offered to sell dollars.

http://en.aswataliraq.info/?p=112272

British ambassador: security situation will not affect global corporate investment in Iraq

British Ambassador to Iraq Christopher Birentis that the global financial crisis or the recent bombings will not affect the willingness of international companies such as British investment in various sectors in Iraq.

The ambassador noted at a briefing that he hoped to hold a conference in London next Thursday and will be focusing on the need to push investment into Iraq in order to quickly rebuild and will address the areas of construction, communications, transport, tourism, agriculture, industry, finance and oil, expressing confidence in the willingness of companies to enter the Iraqi market.

The ambassador said British Prime Minister Gordon Brown, Britain's desire to host a conference of international investment in Iraq by the end of this month will pay the economic relations between the two countries forward.

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Facts about the security agreement between Iraq and the United States

The Iraqi official said his government condemned the U.S. attack on Sunday killed two people, considering it a crime in violation of a security agreement between Iraq and the United States and demanded the U.S. forces to bring those responsible to justice.

The following is a summary of the bilateral agreement, which came into effect on January first of January 2009.

Key points:

- The agreement includes clauses on the withdrawal of American forces are now 137-strong troops from Iraq as it outlines its activities during the period of survival in it.

- Be the withdrawal of U.S. combat troops from Iraqi cities by the end of June 2009 and should be all the American forces leave the country by December 2011.

- Contractors is subject to the authority of the Americans and Iraqi law could be tried in Iraqi courts.

- U.S. troops subject to U.S. military law, but the agreement sets out a mechanism to allow Iraqi courts to try them in case of serious crimes deliberately off-duty and outside their bases.

- Must obtain the consent of the Iraqi officials and coordination with the Commission through a joint military operation conducted by the U.S. military.

- U.S. forces must gain the permission of the arrest of Iraq during the 24 hours to arrest suspects.

- No longer allowed to the United States for holding prisoners indefinitely without charge. And organized manner to be released from custody without charge is not issued them an Iraqi arrest warrant when the Convention enters into force.

- All the buildings that were used or built by U.S. forces to be owned by Iraq. Must hand over all U.S. military bases in Iraq when U.S. forces withdraw from it.

- The Convention is to extend for a period of three years, but can any of the parties through revocation notice in a year. Amendments may be made only with the consent of the parties.

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Kinani MP: Minister Senstjob municipal contracts for transmission to the province of Karbala, Iranian and other companies belonging to the family of al-Shahristani

Boshra Kinani MP called on the mass of virtue, the House of Representatives summoned the Minister of Municipalities. Kinani He told the independent press (Iba) today, Tuesday: It will ask the House of Representatives called for the Minister to clarify the assignment of municipal contracts for Karbala province prior to the period of assessment.

Kinani said: surprised yesterday when it announced its ratification of the Ministry of Municipalities on the basis of the city of Karbala that was given to two Iranian and another company to the family of al-Shahristani.

The Kinani: "assignment to waive the province of Karbala and the law, given that the The law gives the right to challenge the design for two months and then submit the objections by the technicians and specialists and residents of the city and ends in the objections 19/5/2009, The Fadhila member bloc: it was supposed to be the design of Karbala and the design of one.

It continued: he Baallergm of the Ministry of Municipalities Baksim the design to maintain two (city center), which Handed over to Iran's state radio, which had not studied the subject well, and was approved within two months on the assignment of the project, and the other to give the design a world center for scientific research, which is chaired by Muhammad Ali Shahristani and the company's headquarters in London, despite the objections of many professionals and specialists in this area and by the relevant departments at the Ministry of Municipalities and including the director of planning and there are objections by the University and the University of Kufa, Karbala and Hilla University.

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93 personal involved in the forthcoming investment conference

Informed sources said that the Iraqi delegation will take part in the conference to be organized by the national investment in the British capital of London at the end of this month, consists of (93), headed by a Prime Minister Nuri al-Maliki, in addition to a number of ministers and members of the House of Representatives.

The British Department for International Development had earlier said it would support an international conference organized by the Iraqi National Investment Authority, in London in this April 30 to promote investment and trade in Iraq, adding that the international conference will provide information on the major sectors available to the foreign direct investment and other investment opportunities in Iraq and seeks to establish joint projects between British and Iraqi companies and international levels.

According to the ministry, "said the London Conference of 2009 to invest in Iraq, will highlight the recent positive changes," including improved security environment and its impact in opening new horizons for investments in Iraq, which indicated that it represented a huge opportunity for international investment and trade because it contains abundant natural sources of .

Meanwhile, Chairman of the Investment Authority in Iraq, Dr. Sami Al-Araji earlier that the London Conference will be held sponsored by Prime Minister Nuri al-Maliki and British Prime Minister Gordon Brown, in collaboration with the Ministries of Industry and British investment, pointing out that the London conference aims to attract European investors to Iraq, He said: The conference aims to open up the prospects for investment in Iraq to the European countries and we draw upon in order to achieve the deployment of location-mails on the topics of the campaign and also during the London Conference. We will, in any case, the announcement of the investment opportunities of Baghdad, but we will promote it in various world capitals.

Araji The call for businessmen and investors from the Iraqis to participate in the London conference, which will be held at the Hotel "London's Mark."
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City of London Investment Conference

The Conference hoped that the forthcoming investment organization in the British capital London, an important turning point in the entry of international companies investing in Iraq, where it will be more than 500 projects by 11 sectors and the vital participation of more than 250 international companies, in a meeting Jmni with five Iraqi journalists in Iraq, the British Ambassador alluded to the issue of very important Pthavt concerning companies of different origins and in various solid global investment themes to participate in this conference, which will be held the end of this month and two days of the participation of high-level Iraqi delegation, even the British ambassador during the meeting that the desire of those companies participating in the wild, so it came as the ambassador said that the absorptive capacity of the implemented

There are requests from other companies can not at the conference and the question arises here that overlapped with the British Ambassador, now that Iraq is now an attractive investment environment for investors if Maarafna that an investor is looking for an optimal investment environment requires inter pillars and indicators to create an environment attractive after security improvements and the presence of law investment lies in the features of any law unless it holds an investment in the sectors of the region and the presence of unbearable and enormous giant projects in the collapse of infrastructure and the disruption of the productive sectors, trade and service hubs in various health, education and housing construction, and, therefore, the Iraqi street, looking forward to the results of this important conference, which is a historic opportunity for the government be invested in these appetites of international companies through the process of negotiation and dialogue with the temptations and the undertaking may be in the forefront of providing security for these companies and priorities that would contribute to the reconstruction and development as well as the need for a rapid upgrading of the banking system that can cope with and meet the requirements of the existence of foreign investment of this size and potential, as well as there must be an active market for the Stock Exchange, particularly the investment law No. 13 for the year 2006 includes the participation of its companies investing in the stock market and this would give impetus to the stock exchange provided that the stock market is able to contain the movement of share trading That is where the environment is an urgent need to optimize the investment in light of the global trend to invest in Iraq and the forthcoming London conference an opportunity for the Government to prove that Iraq is an attractive area for investment and not through the centrifugal captured by the indicators, as well as the urgent need for foreign investment in its broader and broader.

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During an open dialogue with the Iraqi journalists .. British Ambassador: the London conference a historic opportunity to attract foreign investment

British Ambassador in Iraq Christevr Iraq hoped the investment held on Thursday and Friday in London that a historic opportunity for Iraq to attract foreign investment and the entry of major international companies in projects representing the sectors of energy, construction, housing, tourism, telecommunications, agriculture, industry and other services.

Britain's UN ambassador, through an open dialogue with a group of Iraqi journalists that the conference will present more than 500 investment project with more than 250 leading companies from the investment companies in the world looking for work in Iraq.

He added that the conference will sign agreements with these companies in various investment themes, stressing that the current trend for international companies to invest in Iraq stems from the strategic importance of Iraq in the region and the expected role to play in the movement of trade exchange in the Middle East.

In response to a question (to the extent) that attended the dialogue on the expected entry of investors to Iraq in the absence of the completion of the requirements of the ideal investment environment.

Britain's UN ambassador, despite the failure of some of the requirements of the investment environment attractive Ktokr banking system, the London conference to discuss some topics that will help Iraq to improve the requirements of economic processes in general, and investment in particular, pointing to security improvements, which is the most important elements to attract investors to Iraq to progress in Iraq after the trade and economic isolation from the world, lasted for more than three decades.

He predicted that Iraq is the most important exporters of oil and gas in the world in the coming years, adding that this will help Iraq to sustain the momentum of the construction, reconstruction and development, at a time when the world is beginning to pay attention to the nature of political and security progress in Iraq, making it the element of attraction to these companies to go to the implementation of projects within the Iraq, recalling the determinants of investment by two years from now because of the repercussions of violence and terrorism, and called for the importance of expediting passage of the oil and gas law by the House saying that the signal is passed Aijaiplastkdam companies in Iraq.

And that the decline in violence in Iraq over the past year has given an incentive for these companies to go to participate in the large investment in London, Iraq, and expressed his Government's interest in the economic development of Iraq, saying Britain's transition from military partnership to the economic partnership, trade and development, and noted that this Conference under the auspices of the National Authority for Investment, at the initiative of British Prime Minister Golden Brown, and Iraq which involved high-level delegation headed by Prime Minister Nuri al-Maliki and a number of ministers, professionals, businessmen and investors.

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Iraq not to tap hard cash reserves despite fall in oil prices

Iraq has denied reports that the slash in oil prices has forced it to tap its hard cash reserves to meet a budget deficit.

Government spokesman Ali al-Dabagh said Iraqi reserves at the Central Bank “will not be touched” despite the budget shortfall.

Dabagh did not say how the government would finance the deficit.

However, privately government officials say the government banks on a promise by the Oil Ministry to substantially increase output this year.

Deals have been signed with numerous foreign firms to drill new wells and rehabilitate the currently producing fields with the aim of boosting exports to more than 2 million barrels a day.

Iraq says it has stashed away more than 70 billion in hard cash.

“The fact that we have a budget deficit does not mean that the government will withdraw its cash reserves from the Central Bank,” Finance Minister Baqer Jaber said.

“Once we start using the reserves unwisely, it will adversely boomerang on the economy,” the minister added.

http://www.azzaman.com/english/index...04-27\kurd.htm

Oil Minister to take part in investment conference in London

Iraqi Oil Minister, Hussein al-Shahrestani, will take part in the London conference on the investment opportunities in Iraq, the spokesperson for the oil ministry said on Wednesday.

“Al-Shahrestani will head for London on Wednesday afternoon (April 29) with Prime Minister Nouri al-Maliki to attend the conference to encourage investments in Iraq,” Assem Jihad told Aswat al-Iraq news agency.

“The minister will discuss the investment opportunities in the Iraqi oil field with the foreign companies participating in the conference,.” he added.

A media source had said earlier that Iraqi Prime Minister Nouri al-Maliki will start an official visit to Britain on Wednesday afternoon leading a high-profile delegation.

The official spokesman for the Iraqi government, Ali al-Dabagh, said on Monday (April 27) that al-Maliki and his British counterpart Gordon Brown will attend a conference in London on investments in Iraq on Thursday (April 30), which will also be attended by Iraqi and foreign businessmen and investors to discuss investment opportunities in the country.

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