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

Update

Iraq set for next round of oil bids

Forty-five of the world's major energy companies have qualified to compete in Iraq's next bidding round for contracts to develop its vast oil fields, the second such auction since the US-led invasion in 2003.

The auction for some of Iraq's largest undeveloped oilfields is scheduled to take place in November this year.

Iraq sits on the world's third-largest oil reserves. Not all the qualified companies competed in the first round.

Baghdad awarded only one of eight contracts offered in the first round in June.

BPBP and China's CNPC won a deal to develop Rumaila, one of the world's largest producing fields.

Some of the companies competing include BPBP, Exxon Mobil, Chevron, Royal Dutch Shell and Mitsubishi

http://www.zawya.com/Story.cfm/sidZA...f%20oil%20bids

Iraq most competive Middle East m.obile market

Iraq has become the Arab world's most competitive m.obile market, replacing Jordan. A study by the Arab Advisors Group has devised its Cellular Competition Intensity Index in order to rate and properly assess the level of competition in Middle East markets, and found that Iraq's came out top, with a score of 91%.

It has five working operators, three of which run a national m.obile licence, while the remaining two are regional operators in the Kurdistan region. 'While Iraq's largest operator (Zain) has a substantial market share of more than 50%, Iraq's score benefited from the availability of corporate offers, operational ILD competition and 3G services,' the report said.

http://www.ameinfo.com/205840.html

Originally Posted by Seaview

CBE: soon issue a new currency in both Arabic and Kurdish

An official in the Central Bank of Iraq That the lifting of the zeroes of the Iraqi currency printed depend on the new currency soon to be issued in both Arabic and Kurdish.

The source added to the reporter that there are other reasons prevented the lifting of the zeroes of the associated logistics, including the public and we must carry out education in addition to that there is an urgent need for some legal and legislative frameworks that protect citizens from fraud and loss of rights because of the currency switch.

The source noted that there is a constitutional rule provides for the printing of The new currency in both Arabic and Kurdish.

http://translate.google.com/translat...ate.google.com

They can print a new currency if they want as long as the dinar goes up significantly as far as I am concerned!

Dana Gas Q2 profit surges on Kurdish Iraq ops

United Arab Emirates firm Dana Gas posted a second-quarter net profit of 392 million dirhams ($106.7 million), a more than eleven-fold increase on the year-earlier period.

The company made a net profit of 392 million dirhams in the second quarter, compared with 32 million dirhams a year earlier, it said in a statement on Saturday.

Revenue from the sale of hydrocarbons reached 303 million dirhams, a 31 percent rise from 2008, due to condensate sales from the operations in the Kurdish region of Iraq, Dana Gas said.

http://www.londonstockexchange.com/e...entId=10153398

Central Bank of NO linked to the demand for the dollar, down a bank robbery Azwaip

denied reports the Central Bank of Iraq, which linked the decline in the demand for the dollar in the auction process because the bank Aluem bank robbery in the city of Karrada Azwaip last week.

An official source at the bank, told the independent press (Iba) today, which said Friday that the broadcast media and a lack of objectivity and precision, where the linked decline in the demand for dollar in daily auction the bank, which is far from the banks.

He said the low turnout to participate in the auction is linked to a supply and demand, and have no relation with the situation for monetary policy. Called to deal professionally with current events by some of the media - to h him.

It should be noted that the demand for the dollar in auctions the central bank dropped in recent days.

http://209.85.229.132/translate_c?hl...zn6SChxHHVZ0FQ

Baghdad Chamber of Commerce seeks to reduce the benefits of bank loans to traders to 3 percent

asked the Baghdad Chamber of Commerce seeks to reduce the benefits of bank loans to 3 percent for traders and businessmen in Iraq.

An official source in the room told the independent press (Iba) said Friday that the claim comes within the framework of ensuring the development of business process to support the Iraqi market goods needed by citizens.

Indicating that the proportion relying in the neighboring countries that are trade deals with Iraq.

He added that the Ministry of Finance has taken steps Ptkhvdiha the benefits of good financial loans from 20 percent to 7 percent, a fall in the interest of the national economy. Stressing that the plans aimed at increasing the capacity of banks to grant more loans Xiasat internal.

It should be noted that follow called for a review of funding programs granted by banks to their clients in order to reduce the proportion of Murabaha in force in financial services.

http://209.85.229.132/translate_c?hl...xkE9oLusytMQEQ

Abdul-Mahdi and Zebari discuss developments in the political, cultural and economic

Deputy President Adel Abdul-Mahdi, in his office with Foreign Minister Hoshyar Zebari, the developments in the political, cultural and economic development.

They also discussed the efforts undertaken by the Ministry of Foreign Affairs to consolidate and expand Iraq's relations with its environment and with the Arab and regional countries in the world.

Al-Mahdi during the meeting the need for an intensive diplomatic effort to convert the file of terrorism and mass killings to crimes of genocide and war crimes as stipulated in international treaties including the Geneva Convention in 1948.

http://209.85.229.132/translate_c?hl...H4j9n2IIZJCvNw

Security forces foil attempt to steal a commercial bank and receipt of the gang arrested in Baghdad

A source at the Interior Ministry said Thursday that security forces foiled an attempt to steal a commercial bank in Baghdad

He said a security source told The News of the Kurdistan Interior Ministry forces were able to thwart an attempt to steal a commercial bank in the high-Salman in Baghdad, and arrested the group, which tried to implement a scientific theft, explaining that the gang of four gunmen in a car.

Be recalled that an armed gang carried out eight vehicles traveling in an armed robbery at the Bank of Azwaip Rafidain central Karrada.

http://translate.google.com/translat...history_state0=

Abdul-Mahdi: the case of Bank Azwaip was a political conspiracy

The Vice-President Adel Abdul-Mahdi also said that what happened on the issue of jamming of the Bank Azwaip was calculated to overthrow the political power and national figures.

Abdul-Mahdi said during his meeting with a delegation of tribal elders and leaders of curiosity Taiip in East Baghdad and the Euphrates, some wanted it from behind the pace of sedition, saying that this campaign has exposed, and the Iraqi people now know the circumstances of the case.

They were now trying to eliminate all the consequences of this sedition so that they can Itafrgua of their functions in response to terrorism and provide security for the citizens and the protection of the Constitution and follow-up service projects and physical.

http://209.85.229.132/translate_c?hl...IK9JQ3r2xrm_bg

Iraq's accession to the WTO

About the call the morning on the continuing economic debate over Iraq's accession to the WTO or not, as well as on the question raised by the symposium specialist of the Iraqi Center for economic reform of the controversial offer in this regard following the intervention.

1 as long as the Iraqi economy is suffering from fatigue and Environment of WTO does not believe in a safe environment for the economy slumping, in addition to the assessment of the state that the scenario of joining the organization in a negative light of current realities and anticipated for some time to come for quite some time, the current reality does not encourage the support of joining the present time .

2 as well as dangerous and deadly to the economy if left to the economies of large and powerful competitors in the global market, which will play a competitive role for the stability of a more rigid and can be retrieved to recover the losses from the financial crisis - the current global economic.

3 how everyone is convinced that the tsunami of Chinese goods, followed by other Asian goods, and there will soon be in India already and will continue to ban continued for many local industries in many countries that have not suffered as a result of the local Iraqi economy (public, mixed and private) that will enhance the difficulties faced by the country to advance again in time is not clear which parameters of economic policy and when it will be accomplished. The reality of the situation we face is like bringing Sickl Engine Motor for the purpose of operating a truck and move it. The reality of the situation we face is like bringing Sickl Engine Motor for the purpose of operating a truck and move it.

4, that the import process are important factors when taking into account the protection of national products available in accordance with the principles within the WTO framework, in addition to the factors of quality and consumer protection than we think it would be more assured of success as a productive investment projects will be able to more substantive competition in the domestic market first, For the purposes of export, to say here how the Lord will enable the investor to compete with others, both in the domestic market or for export, and the answer as it did in other countries where the spread of global markets and is a safety valve, so that the call for measures to promote foreign direct investment to attract able and seriousness of each type of investment by jurisdiction.

5 Why should we propose a study to work procedures and legislation to strengthen the economy, rather than drown in rough seas more than the competition where the Iraqi economy, the weakest link, to imagine the intensity of deformation, which called for a lot of employers to import foreign labor to Iraq for the time being, let alone is expected to occur at the frequency of work and the entry of foreign investment into the country already??.

6 proposal for a group of economic, governmental and non-governmental organizations to develop a mechanism for Smahat and exceptions that remove or reduce the damage to the economy expected to, and may even eliminate the potential for growth and development of the future, when all of the loss of competitiveness with other economies.

Important to find the mechanisms and guarantees for the benefit of Iraq belonging to the organization and avoid the indiscriminate opening up of the Iraqi market for foreign goods that can lead to increased difficulties for the likelihood of early discharge, although there are indicators and controls according to the Iraqi side to protect the markets after the membership and this requires education and abilities appropriate protection measures, it is important to ensure that Iraq's identity.

See the note to the protectionist measures that are appropriate to the circumstances of a country like Iraq needs to be studied in depth and is not similar to the protective measures for other countries, stable for decades of years.

7 It is noted that inflation in prices and the continuing rise of wages and employment services, which is expected to rise with time and with increasing dependence on imports will reduce the pull factors of production Astosmaralojunbi is relying upon to contribute to bridging the gap between the size of the large investments required for the development and availability of resources, therefore we believe In this regard, the need for flexibility and balance between openness and economic measures in support of the local and export product and not face any difficulties in the production of a great consistency and continuity.

8, we suggest to reflect a more positive impact on the extent of Iraq's accession to the World Trade Organization to tempt foreign capital to invest in Iraq.

9 look at the scenario when assessing the status of accession to the WTO, and in the midst of:

The current economic realities of the administration of the country characterized by uncertainty and lack of a vision to develop a clear policy of economic indicators and the delay in this policy

The continuation of the random process in the construction and reconstruction, without being dependent on priorities.

The absence of lines of the critical path for optimum utilization of available resources and other factors will keep the Iraq and attractive consumer market for the produce of others, and to weaken the competition has lead to the conclusion that the situation in the scenario is not encouraging at the present time, and thus the delay in joining the organization at the present time have the disadvantages of much use, but harmful to give more to the Iraqi economy to stand on because there, but to those responsible for economic policy plans and programs as part of the process with a firm timetable for the preparation of policies and actions and give the point of view Dorlkl effective membership in the organization.

11 Involving the private sector through their representatives, and individual consultants to provide support to the negotiators will play a supportive role and supported, through a mechanism such as a flexible way of seminars, round table, but that the manner agreed and planned in advance in order to take into consideration the results of such activities by government agencies concerned, which requires that the party primary in those seminars.

http://209.85.229.132/translate_c?hl...BBt--_RO_D0dCQ