Thread: Archive News - Iraqi Dinar Think Tank - 06/05/09 - 04/09/09

Iraq's May death toll lowest since invasion

The month of May witnessed 155 deaths from violence in Iraq, the fewest of any month since the US-led invasion in 2003, official figures showed on Sunday.

Statistics compiled by the defence, interior and health ministries showed that 124 civilians, six soldiers and 25 policemen were killed by attacks in May.

People wounded included 285 civilians, four soldiers and 55 police.

Some 40 presumed insurgents were killed and 904 arrested, according to the statistics.

Deaths from violence fell by more than half from the 355 registered in April, which was the deadliest month since September last year.

http://www.zawya.com/Story.cfm/sidAN...nce%20invasion

Economic Adviser to PM: the return to the IMF will put Iraq at the State new conditions

The Economic Adviser to the Prime Minister did not support the intention of the Ministry of Finance to borrow from the IMF to bridge the fiscal deficit in the budget, indicating that the Fund will return to Iraq at the possibility of new conditions.

"Dr. Abdul-Hussein Al-Anbuge told the independent press (Iba) today, Monday, that you want to borrow the ministry called for the market withdrawal, and the right of the State to obtain a soft loan, the recourse to the Fund may impose a monetary policies on Iraq, despite the exit of the obligations of the Convention to prepare which lasted for years.

The Anbuge to the economic reality that the current Iraqi can accept the Fund's policies, which disrupted the monetary policy and affected citizens.

He added that the loan will increase the size of government public debt on the one hand and committed to make Iraq pay interest rates of these loans Almtaytp the other hand. He pointed out that the money borrowed to consume without the investment and development means that serve to achieve the benefits of the budget.

The Minister of Finance Baqer Jibrazubaydi announced efforts to sign an agreement supported by new international Sndoukanakd with paving the way for Iraq to obtain a loan of up to seven male Miliratdolar to cover the deficit, which may happen during the current year and next.

http://209.85.227.132/translate_c?hl...CB_vIDE5NTF7Iw

Oil climbs to near $68, new high for the year

LONDON – Oil prices rose to near $68 a barrel Monday, hitting a new high for the year as world stock markets rallied and investors banked on hopes that the global recession is easing.

Benchmark crude for July delivery was up $1.41 to $67.72 a barrel by mid-afternoon in Europe in electronic trading on the New York Mercantile Exchange, the highest level since early November. It had traded above $68 earlier in the day.

Oil prices have almost doubled from below $35 a barrel in March as investors have taken heart from signs a severe recession in the U.S. is slowing. Asian and Europen stock markets rose Monday as surveys showed Chinese manufacturing expanded in May and on hopes that an imminent bankruptcy announcement by General Motors Corp. will help the automaker become a leaner and healthier company.

However, global oil demand remains weak and U.S. supplies are near 19-year highs. And higher oil prices could drag on any nascent recovery.

"The market sent a clear message in May, it will ignore any and all bad news. We expect to see a correction" that will take prices back down to $40 a barrel, wrote Stephen Schork in his Schork Report.

"Of course the economy is going to turn around," Schork said. "Whether it occurs by the end of the year, beginning of next year or two years from now is anyone's guess. However, we will argue that energy has overshot the current bottoming phase," he said.

Traders will be watching for a slew of U.S. economic figures coming out this week, including May employment, reports on the manufacturing and services sector and pending home sales in April.

In other Nymex trading, gasoline for June delivery rose 1.27 cents to $1.91 a gallon and heating oil gained 3.97 cents to $1.72 a gallon. Natural gas for June delivery jumped 16.8 cents to $4.00 per 1,000 cubic feet.

In London, Brent prices rose $1.36 to $66.88 a barrel on the ICE Futures exchange.

http://news.yahoo.com/s/ap/20090601/..._ge/oil_prices

House Speaker calls on Kuwait to review the sister issue of compensation

Mr. Ayad al-Samarrai urged the Iraqi Council of Representatives President of the sisterly Kuwait to review the issue of awards in Iraq.

Mr. Samarrai said at a news conference organized by the Palais des Congrès Information Service at the Council "that the parliament session today, the discussions raised the issue of Iraq's relations with Kuwait, our brothers," saying that "the House and the Iraqi government are keen on better ties with Kuwait and at all levels of political, economic and social, although the result practices of the dictatorships that ruled Iraq, which left an open wound in the hearts of the Iraqis and Kuwaitis."

The President of the Council that the difference between the two countries desire to build strong relations between them and diagnosed the problems and their causes, saying that the problems did not come from the people it came from the dictatorships that ruled Iraq, and denounced all practices of the Iraqi former regime, the right of Kuwait, but the bottom of the Iraqi-Kuwaiti claim damages resulting from the invasion, despite government attempts to extend the hand of the Kuwaitis to strengthen community relations come from the Kuwaiti reparations claims of the balance in the Iraqi abroad, which raised some concerns among Iraqis, despite the absence of the position of the government of Kuwait.

He pointed out that the House of Representatives will host Minister of Foreign Affairs to see the reality of relations with Kuwait and what the relationship and supply constraints of political and economic aspects to be clarified for the ******* of the relationship and the fact of Representatives and conviction in the resolution was strengthened.

President of the Council and asked the sister of Kuwait to review the issue of compensation to Iraq, especially that of the strong historical ties to the brothers, and congratulated the Kuwaiti National Assembly Speaker Jassem Mr. geographic on his election, members of the new nation on the occasion of first meeting them.

http://209.85.229.132/translate_c?hl...8IoOHw6c3SCf7Q

MPs are demanding the State of Kuwait to pay compensation for allowing the multinational forces to invade Iraq

MPs called on Monday to impose damages against the State of Kuwait for allowing foreign troops to invade Iraq, in response to comments by a Kuwaiti official called for Baghdad to apply all its commitments for the lifting of sanctions imposed on Iraq since the invasion of Kuwait in 1990. The Izz al-Din asked the State Attorney with the Accordance Front, the inclusion of the discussion of the imposition of financial compensation by the State of Kuwait to allow U.S. forces to enter Iraqi territory, and this entry was caused by damage and destruction of the infrastructure of Iraq. He added that "Kuwait allowed U.S. forces (into Iraq) without a UN resolution."

The Kuwaiti official said earlier Monday that Iraq's implementation of international resolutions before lifting sanctions imposed on Iraq since the invasion in 1990. The Foreign Ministry Undersecretary Khalid Al-Jarallah Kuwaiti newspaper "Al" Kuwait understands "Iraq's desire to emerge from Chapter VII of the Charter of the United Nations with regard to the international resolutions related to the Security Council under the situation between Kuwait and Iraq."

"But at the same time, there are benefits and outstanding issues, rather than logic and reasonable leave without treatment is not closing the files."

In turn, said the Iraqi Deputy Jaber Habib Jaber, Vice-President of independent parliamentary bloc, "Now all the parliamentary groups of the Council agreed to open the files with Kuwait and the abolition of compensation in response to the position of Kuwait, he has not fulfilled its obligations." He added, "Kuwait's position was a negative change, and there is a claim to form a committee to work and put pressure on the transfer of the file from the UN to the bilateral relations between the two countries. He added that "the subject of the files covering the border demarcated by the United Nations, in a precedent never before (...) and open all files with Kuwait, as well as pressure on the American side, who promised to make efforts to remove Iraq from Section VII, where should this pressure on Kuwait regard."

He stressed that "the claims of the Congress to impose reparations to Kuwait, where they used the State of Kuwait to attack Iraq and have to bear the damage done to the infrastructure of Iraq." He noted that he had "no justification for Kuwait to demand compensation, and Iraq to pay five percent of imports to date for the welfare of Kuwait, at the time that the Iraqi people, destroyed infrastructure," saying that "Kuwait was an ally of the former regime."

For his part, Amar Tamah member of the security and defense committee in the House of Representatives, told Agence France-Presse that "the House of Representatives discussed the issue of Kuwait's claim for compensation in accordance with Security Council resolution, and discussed the efforts of Kuwait to block the exit from Iraq Section VII.

"We see that justified the imposition of damages on Iraq and this is unfair and unjust to carry the consequences of Iraq policies (...) tyrant and the victim is only the Iraqi people." The two tracks we go in to deal with the issue: the course and the course of a parliamentary government Baltozai for the purpose of shifting the position of Kuwait, and especially the effects of compensation had intensified with the growing financial crisis."

"I think the justification has ceased to pay compensation to Kuwait in particular followed the signing of the security agreement with the multinational forces, which confirmed that Iraq has become a country in which the circulation of power is no longer a threat to peace." Said Iyad Samarrai, head of the Iraqi parliament, in a press conference that "The Iraqi people are suffering because of the completion of the compensation issues, debt and other."

"We take the opportunity to congratulate the House of Representatives and President of Kuwait Jassem Al-Kharafi known wisdom, and that the research contributes to the Kuwaiti government in resolving the outstanding problems, certain that the Iraqis are paying the regime of Saddam Hussein's mistakes." He stressed that there is a parliamentary delegation "will be heading to Kuwait for a dialogue with the Kuwaiti parliament to solve the problem." He stressed that "the House proposals were overwhelmingly positive, we appreciate that there is a problem, and we would like to resolve, through dialogue, openness, and the higher national interest, rising to some specific aspects," he said, "I am optimistic about the possibility of addressing these issues." He stressed that international sympathy for Iraq is in the interest in the case of the seventh out of the item. The Iraqi government said in May 28 on its "closing" the outstanding issues with Kuwait and in response to comments by a Kuwaiti official.

He said government spokesman Ali al-Dabbagh said "the government is very much interested and keen to close the outstanding issues (...) and to address the issue of the remains of the martyrs and the Kuwaiti property and the rest of the outstanding issues within the possibilities available and the full sympathy with the bereaved." And the international resolutions related to the payment of compensation and the demarcation of the border and the missing.

http://209.85.229.132/translate_c?hl...OsvXIMBIH6gr-g

House of Representatives will discuss the file of compensation for the State of Kuwait

Chaired by Mr. Iyad Samarrai, head of the House of Representatives on Monday approved 1-6-2009 of the eighth meeting of the Council.

At the beginning of the meeting was called to order any of the recitation of the Holy Quran, it was suggested that the Attorney-Alaa Saadun Chairman of the Finance Committee to postpone the second reading of the draft competition law and antitrust, that the observations of the project has supported the Attorney Albulada full of it.

The other asked lawmaker Khaled al-Asadi of the results reached by the commission in charge of lifting the immunity of a number of MPs, the President has referred the Board to answer to Bahaa al-Araji Committee member in charge of and which the Commission had finished its work and will report to the members of the committee next Wednesday in preparation for submission to the Council.

His deputy asked the state to add the subject of Izzedine Kuwaiti reparations on the agenda and discussed the recommendation and exit on the subject was approved by the Council majority for a discussion at the end of the meeting.

In the paragraph on the agenda of the vote on a resolution to finance the Treasury transfers the electricity sector contracts and the lack of a quorum, the number of involved members to submit comments and questions about the resolution, as measured by the Attorney-Amiri, said the importance of the subject, calling for members to vote in favor of the resolution, has been backed by MP Abdullah Saleh , while the House objected to the morning dew and Sa'idi Jubouri and Wael Abdul Latif and Abdul Mutlaq Jubouri, Nada vote on the issue of Sudan and called for the Committee competent to make a detailed report on the decision, a claim Mr. President of the Council Finance Committee to submit its detailed report on the subject to remove the ambiguity of the members.

Finally, the second reading of a bill amending the law organizing the compilation of the rubble, No. 67 for the year 1986.

A number of deputies to submit their comments on the law where the deputy Khalid al-Asadi of the need to double the fines for offenders and to exclude the subject of custody, has been backed by MP Hamid Majid Moussa proposal.

On the subject of Iraqi reparations to Kuwait, the number of deputies, points of view focused on the need to address the United States of this heinous as it is concerned with the protection of such cases from Iraq under an international mandate and the Security Agreement signed between the two countries and the formation of a parliamentary committee to go to Kuwait to discuss and activate the role of diplomacy Iraq at the Arab and international media and to give great importance to shed light on the problem and ask the Iraqi government to go to the United Nations for the purpose of prosecution of Kuwait and to assist them in their role to the international coalition forces in the invasion of Iraq in 2003 and the convening of a conference on the issue of an international arbitration, and the whole House, Tania Sadoun, Mohsen and Ali Talat Alaak that the position of the Government of Kuwait to Iraq last negative and transfer the file from the Security Council to be more worthy of the bilateral relations and useful, while the deputy asked Jabir Habib would be assigned to the Foreign Relations Committee of the Council to adopt this issue, and stressed the Attorney Mohamed Ahmed on the need to send a message on behalf of the Iraqi people in this regard.

Meanwhile, Ahmed Massoudi asked to call Deputy Prime Minister and Minister of Foreign Affairs to inquire about the validity of the promises of America by taking out Iraq from Section VII in the event of signing the security agreement.

It has to hold a meeting next Monday.

House of Representatives
Information Service

http://209.85.229.132/translate_c?hl...1GJk0Q48qfqlmg

Originally Posted by Seaview

Oil climbs to near $68, new high for the year

LONDON – Oil prices rose to near $68 a barrel Monday, hitting a new high for the year as world stock markets rallied and investors banked on hopes that the global recession is easing.

Benchmark crude for July delivery was up $1.41 to $67.72 a barrel by mid-afternoon in Europe in electronic trading on the New York Mercantile Exchange, the highest level since early November. It had traded above $68 earlier in the day.

Oil prices have almost doubled from below $35 a barrel in March as investors have taken heart from signs a severe recession in the U.S. is slowing. Asian and Europen stock markets rose Monday as surveys showed Chinese manufacturing expanded in May and on hopes that an imminent bankruptcy announcement by General Motors Corp. will help the automaker become a leaner and healthier company.

However, global oil demand remains weak and U.S. supplies are near 19-year highs. And higher oil prices could drag on any nascent recovery.

"The market sent a clear message in May, it will ignore any and all bad news. We expect to see a correction" that will take prices back down to $40 a barrel, wrote Stephen Schork in his Schork Report.

"Of course the economy is going to turn around," Schork said. "Whether it occurs by the end of the year, beginning of next year or two years from now is anyone's guess. However, we will argue that energy has overshot the current bottoming phase," he said.

Traders will be watching for a slew of U.S. economic figures coming out this week, including May employment, reports on the manufacturing and services sector and pending home sales in April.

In other Nymex trading, gasoline for June delivery rose 1.27 cents to $1.91 a gallon and heating oil gained 3.97 cents to $1.72 a gallon. Natural gas for June delivery jumped 16.8 cents to $4.00 per 1,000 cubic feet.

In London, Brent prices rose $1.36 to $66.88 a barrel on the ICE Futures exchange.

http://news.yahoo.com/s/ap/20090601/..._ge/oil_prices

Interesting,

The only reason oil is going up is the dollar is dumping again, so as to economic turn around, sorry, not this year or next, a bunch of BS well wishers who play the market state this nonsense. Oil will continue to rise as long as dollar keeps dropping, which is will. Inventories and demand is still down, so supply and demand rule, look for oil to hit $70. by next month, and this is good for Iraq, so if oil law finally gets passed, and corruption is attackes as stated recently, there is hope for dinar to be restored to former value, step by step.

Looking at dollar diving again, think back to late last year when same percentage drop of 20% happened, dinar didn't go up, but it didn't go and locked in at current 1170, another good sign of stability, so all is well, things are finally shaping up for progress so stay tuned.

Success to all, Mike

Finance: Customs and imports more than 160 billion dinars to four months

Said the General Administration of customs posts Iraqi imports through the first four months of 2009 the current, more than 160 billion dinars, and a significant increase over the figures reported in the same period last year.

A source in the body, according to a statement by the Ministry of Finance that "the body's total income during the period of January to the end of April this year, the 160.290.968.097.500 billion dinars (one hundred and sixty billion and two hundred and ninety million nine hundred and sixty-eight thousand seven hundred and sixty-eight thousand dinars five hundred fils)."

He added: "The revenue achieved by the body during the first three months of this year amounted to 122.501.746.594 billion dinars (one hundred and twenty-two billion five hundred and one million seven hundred and forty-six thousand five hundred ninety-four dinars), or an increase of 283% achieved during the same period of in 2008, where revenues for the timely 43.350.810.653 billion dinars (three billion and forty-three hundred and fifty million, eight hundred and ten thousand six hundred and fifty-three dinars)."

The source explained, according to the statement, "These revenues came through customs and the customs ports of North and South and Central," .. Stating that "the Board continues to raise the level of performance of affiliates for the maintenance of the national economy and the fight against all forms of smuggling."

http://209.85.227.132/translate_c?hl...773z25OGL8eaPQ

The organization of the first direct flight between Britain and the Kurdistan Region

To mark the 34 anniversary of the founding of the Patriotic Union of Kurdistan, the Kurdistan Regional Government in collaboration with the rut and the Swedish company Viken, the first direct flight on Monday, 6-1, from Britain to the international airport and Sulaimaniya, were on board the plane (185) Kordia passengers and the plane itself would (67 ) passengers from the territory of Kurdistan to Britain.

In this regard, the President of the Swedish company Viken our site, is pleased to organize this trip, pointing out that such direct flights between Britain and Kurdistan Region airports will continue, and tours will be organized similar to the Erbil International Airport soon, and thanked the Government of the Territory and the airport authorities Sulaymaniya International cooperation for the success of the journey.

http://209.85.229.132/translate_c?hl...piMTX42yLnjuuQ

Governor of the Central Bank of a lack of responsiveness to calls for requests to use a portion of the reserve

Stressed the Iraqi Central Bank Governor Sinan al-Shabibi not be receptive to calls for Iraqi officials, calls for the use of part of the foreign exchange reserve of 40 billion dollars to bridge the budget deficit.

Shabibi said in a meeting with officials in the banking sector of Egypt is a security precaution for the stability of the exchange rate to maintain the value of the dinar, indicating that were it not for the reserve force, which is owned by the Central Bank of Iraq, we were able to return to meet the demand and the easing of restrictions quickly, helping to stop the fluctuation of prices.

Alshabibi invited to review the prevailing laws and to address all of which affect the banking business.

He said that private banks will have to work hard to exercise its role, which was delayed by a lot, and left the government takeover of banks on the largest share of the market.

Alshabibi also called for the banking sector, the National Initiative funding for government projects, and the transition from role to role of financial development and increase market share in the decrease of inflation rates as an incentive to strengthen its role in multiple aspects of economic activity.

http://209.85.229.132/translate_c?hl...bLOv6lJ2TKQsMA