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

Gulf Keystone is encouraged by the results of an oil well in Iraq

Gulf Keystone said the company to explore for oil and gas on Wednesday it was encouraged by the results of an inspection well Shaikan -1 in Kurdistan in northern Iraq.

The company, which focuses its work in the Middle East and North Africa that the results greatly improved with digging a deeper hole.

Todd said Kozhel Chief E.xecutive of the company in a statement: "Based on what we've seen in the region, we expect that the pilot Shaikan -1 up to the target depth in time for that."

Gulf Keystone intends to dig the well, which is currently at a depth of 1100 meters to reach a depth of three meters or 3500 meters, reflecting the lack of development of the region and the absence of wells interconnected.

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Obama signed legislation to allocate 106 billion dollars of which to end the war in Iraq

U.S. President Barack Obama Bill to allocate 106 Billions of dollars for his plans to end the Iraq war and the escalation of operations in Afghanistan, where High fighting against militants..

The legislation contains signed by President George 9 billion to $ .79 To fund the wars until 30 September.

Legislation also included many additions such as the allocation of 7.7 Billion dollars to deal with a pandemic flu (H 1 to 1) and 1.4 billion dollars in foreign aid Of Pakistan, which is fighting Taliban militants who sneak across the border with Afghanistan ..

Legislation and almost delayed the request for money from Obama to close the U.S. military prison The controversial Guantanamo Bay, Cuba, as well as his request to $ 108 billion in credit To support the liquidity of the International Monetary Fund, which assists states in dealing with the economic crisis World ..

Legislation did not include $ 80 million request Obama to close its Guantanamo prison, and prohibited The release of any detainees in the territory of the United States until September 30, but allows The transfer of detainees to U.S. soil for trial .

The deputies called for the Republicans and Democrats on both the White House to develop a detailed plan Prior to the closure of the Guantanamo prison. Before the passage of the legislation were the U.S. administration have been quick to Release or transfer of more than a dozen detainees .

Despite Republican opposition to the garrison in the end, Obama was able to include the legislation Items to open a credit line worth 100 billion dollars to the International Monetary Fund and increase the contribution of United States to fund eight billion dollars ..

Legislation also recognizes the International Monetary Fund plan to sell 400 tons of reserves Gold.

Over the House Republicans were concerned about the use of the International Monetary Fund for money in the Lending to U.S. adversaries such as Iran and Venezuela, said that this issue should have been Looking separately ..

With the transformation of the project to the law could meet the commitment made by Obama with a group Twenty-up 500 billion dollars in emergency aid fund for the International Monetary Fund On funding countries that need financial support in order to avoid bankruptcy ..

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Hayyani: The continuation of talks between Iraq and Kuwait until the completion of the file of compensation

Iraqi Ambassador to Jordan Saad Hayyani on the recent talks between Iraq and Kuwait, in Amman under the auspices of the United Nations, to discuss the issue of reparations and the debt owed by Iraq.

Hayani said in a press statement on Thursday that the talks have been formalized between the Kuwaiti and Iraqi sides.

He pointed out that these meetings had been held periodically in the earlier periods in Geneva and New York, indicating that the talks will be ongoing until the completion of the file once, as he put it.

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The central government and KRG agree on three points to resolve differences

Head of the Office of the Presidency of the Kurdistan region, Fouad Hussein, the territorial authorities had reached an agreement three points with a delegation sent by Prime Minister Nuri al-Maliki, in Erbil to solve the outstanding problems between the two sides.

Hussain said the Middle East that a delegation of the Islamic Dawa Party, led by Hassan Senaid, a representative of the Maliki visited the region recently, he said, adding that the purpose of the visit was to exchange views on the relationship between the Federal Government and the Kurdistan region and how to deal with outstanding problems and how to reach solutions and stabilization priorities.

Hussein stressed that he was agreed on three key points the first exchange of delegations to study the issues and the second access to the basis of dialogue between the Territory and the Federal Government and the recourse to the constitution in resolving the outstanding issues between the parties.

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Minister of Finance confirms that his ministry had made great successes

The Finance Minister Bayan Jabr said his ministry had made great success through the years.

Zubeidi said in a statement to the Ministry of Radio Dijla received a copy of which is that economic and fiscal policy have succeeded in moving Iraq to attract international banks to enter the arena of Iraq.

Calling on government and private banks to take advantage of the expertise of foreign banks to raise realities.

Zubaidi said that the Iraqi Trade Bank was able during the opening credits of 2008 amounted to (9) billion dollars, which in turn will give great impetus to the process of investment and advancement of the rehabilitation of infrastructure.

He noted that the strategic projects in the areas of tourism and the establishment of hotels and commercial complexes and residential projects, hospitals, energy, water, and modern methods is a priority in the work of the Ministry of Finance PROFILE.

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$4 billion unaccounted for in this year’s Iraqi budget

Massive amounts of money go unaccounted for in Iraq and this year’s fraud could hit more than $4 billion dollars, Iraqi government officials say.

The officials, refusing to be named, said that would reduce this year’s budget to $54.6 billion from $58.6.

One official said evidence was there but people lacked the courage to take the case to courts.

“In a country where one could get killed for nothing, it is almost impossible to report on corruption without grave consequences.

“The ministries have been divided on sectarian and factional lines and accusing a minister or an official is taken to mean charging the party or the faction they belong to,” the official added.

A U.N. report issued in 2008 found Iraq one of the most corrupted countries in the world.

The officials agreed that corruption was the main factor hindering post-war reconstruction and the provision of decent public services to the Iraqis including power, water and health amenities.

Adel Hamza, public relations officer in a private firm, said he could do almost nothing in Iraq without “bribing my way through.”

“As I move through any government department, I must feed the open mouths one by one as if I am feeding chicken in a farm,” he said.

Government officials routinely deny such allegations.

However, Iraqis say every government department has set a special price for the ****ution of what should be free-of-charge services such as issuing of passports and other documents.

The budgetary allocations that get lost and unaccounted for are mainly connected with the issuing of contracts.

“I must pay money to the first man I meet in any department, starting from the porter to the director-general,” said Hayder Abdulmuhsen.

Government officials and civil servants now get decent salaries and many see no reason for them to get bribed in order to work.

http://www.azzaman.com/english/index.asp?fname=news\2009-06-25\kurd.htm

Dollar sales reach 152m on Thursday

Demand for the dollar rose in the Central Bank of Iraq’s (CBI) auction on Thursday, reaching $152.680 compared to $124.980 million in the previous session.

“The demand hit $8 million in cash, covered by the bank at an exchange rate of 1,183 Iraqi dinars, and $144.680 million in foreign transfers outside the country, covered 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 16 banks that participated in today’s session offered to sell dollars.

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Cabinet to decide on oil exploration licenses- minister

The Iraqi minister of oil on Thursday said that his ministry will refer oil exploration licenses to the cabinet for consideration and decision.

“The cabinet is entitled to approve or reject the licenses, and to submit them to the Parliament,” Minister Hussein al-Shahrestani said in a press conference held at the headquarters of the Iraqi Parliament, which was attended by Aswat al-Iraq news agency.

“The illegality of the oil contracts is due to the absence of a provision in the constitution concerning oil contracts,” the minister explained.

On June 29 and 30, companies will submit their bids for oil exploration in the country, the minister added.

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North Oil Company to invest in 41 oil wells in Kirkuk

The state-run North Oil Company will invest in 41 oil wells with a capacity of 100,000 barrels per day (bpd) in Kirkuk’s Hamreen area, the company’s director said on Thursday.

“Next week, technical teams and engineers from the company will launch work on the project,” Engineer Manna Abdullah al-Ubeidi told Aswat al-Iraq news agency.

The estimated completion period of the project ranges from one to two years, Ubeidi noted.

“An oil pipeline will be built between Hamreen oil fields and Ajeel field and linked to the strategic export pipeline…,” according to the director.

Kirkuk, 250 km (156 miles) north of the Iraqi capital Baghdad, sits on the ruins of a 5,000-year-old settlement. Because of the strategic geographical location of the city, Kirkuk was the battle ground for three empires, Assyria, Babylonia and Media which controlled the city at various times.

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We (for communication): the economic and financial committees to discuss amendments to the Law on Investment
The media center of the communication \ from within the House of Representatives _ Hussain Habib

Rep. in the House of Representatives member Yonadam Kanna we Economic Committee in the Parliament to hold an important meeting held today (Thursday) between the leaders and representatives of financial and economic committees, labor, services, legal and regions to discuss the draft amendment to the current Iraqi investment law.

He said we were in his statement to the "media center of the communication" The meeting focused on discussion of the draft legal age of infrastructure and service sectors and the First Amendment of the Law Investment No. (13) for the year 2009, where he was hosting the President of Dr. Sami al-created Investment.

During the meeting and introduced the terms and clauses of laws by Dr. Sami Araji, who referred to the great importance of the topic of investment and the creation of investment opportunities in All areas.

A number of MPs expressed their views on the law, as confirmed Deputy leader, Rida Jawad Taqi of the Supreme Council that the law on the age of infrastructure, service sectors did not give any The role of the regions and provinces on the issue of age and services, and thanked the deputy asked Ismail To devote the importance of the agricultural sector and provide great potential for the development of the agricultural reality
And addressing water scarcity.

However the MP Alaa Saadun to the adoption of employment Place of national employment in foreign investment projects.

Confirmed Attorney Mona Zalzala foggy that the bill does not encourage the envelope and to consider it positively.

In The end of the meeting decided to continue consultations between the two laws created investment And the four committees.

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