Thread: Iraq/Dinar News. 09/05 to 01/14/07

The Cabinet-central court condemns Undersecretary of the Ministry of Finance

(Voice of Iraq) - 12-19-2006
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The Republic of Iraq
Council of Ministers-the governmental communications
Media Relations
Press Release Press release /
Tuesday 12-19-2006


Central court condemns Undersecretary of the Ministry of Finance and four of its officials for their involvement with proven administrative corruption


The central court sentenced four officials from the Ministry of Finance after his involvement in issues of administrative and financial corruption in accordance with Article 430 of the Iraqi Penal Code.

A source in the body that imposed a sentence of three years of an undersecretary of the ministry, the assistant general manager of the accounting department and expert accounting and decision of the private sector in the Ministry of Finance after his involvement payments outside the suitability and which require the assignment of a contract to the Economic Committee, adding that the court Khairat the Ministry of Finance the right to claim compensation for damage caused to public money.

Iraq demand to hold aquatic deal


Iraq demanded at Third Regional Conference of Water which held in Cairo recently to hold regional deal about distribution of rivers Tigers and Euphrates waters because they're world rivers

Minister of Water Resources Dr. Abdullateef Jamal Rasheed said at a speech during conference of general meeting of Arabic Council of Water.He added that projects of irrigation and dams in Turkey would leave negative effect on fact of waters in Iraq, stressed Iraq's effort to support come to fair division of joint waters through it's participation at tripartite committee with Turkey and Syria which stopped working in 1992 without reaching to any deal.
Source: Al Sabaah




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Posted on Tuesday, December 19

This morning I posed to Adster some legitimate hard-nosed questions IMO which he conveniently ducked. I was not attacking him and I thought he would have the courtesy enough to answer in a responsible manner as he does when questioned by many of you. I have reposted my questions to him in the "Archived chit-chat thread" where Neno told me our discussion could continue. If some of you want to bash me for attacking him go right ahead, it was not my intention this morning nor is it now-I'm just waiting for the man to answer.

Thanks
Mike

1.25 Trillion ID to implement projects of Baghdad Municipality


The Mayor of Baghdad Dr. Sabar al-'Ayssoi has indicated that the Municipality of Baghdad had signed contracts and referred several projects over the current year their value exceed ID1000 thousands billion, indicating that the municipality had obtained the approval of the cabinet and the economic committee to rise the budget of running from ID150 billions to ID400 billion, which consider as an explosive budget with all standards.

He call the municipality offices which will obtain budget approaches to triple the former budget to adopt the legal and former means to implement projects specialized for them and not yield to any pressures by any side in referring projects to prevent the administrative corruption.
Source: Al Sabaah




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Posted on Tuesday, December 19

Iraq-Currency

Posted by: nadioshka on Tuesday, December 19, 2006 - 04:22 PM

Iraq-CurrencyDollar demand down in Iraqi central bank auction By Dergham Mohammed AliBaghdad, Dec 19,

(VOI) – Demand for U.S. dollars was down to $10.605 million in Iraq’s Central Bank auction on Thursday compared with $12.095 million the previous day.

The central bank covered all bids from banks at $8.980 million in cash and $1.625 million in transfers abroad, all at 1,380 dinars to the dollar, down eight dinars from yesterday.Eight banks taking part in the auction offered to sell $10.880 million which the bank bought at 1,378 dinars.

Economist Abdel-Razzaq al-Abaiji attributed high selling offers to fear that declining exchange rates would cut the value of unneeded dollars.

Iraq-Currency :: Aswat al Iraq :: Aswat al Iraq

Survival of the fittest in a competitive global economy


By Naser Hatemi and Fereidoon Daneshvar
The KRG has taken clear steps to secure control of its territorial natural resources, specifically the most valuable export commodity; oil.

Natural resources (besides the human capital) are crucial for survival in a competitive global economy. Among these vital natural resources are cultivable land areas, water and mineral resources (including Oil and Gas) to support the establishment and maintenance of industry build-up and sustaining optimal economic growth.

Kurdistan and its resources have been attractive bait for its close and far neighbours throughout history, both on the local and regional levels. Its people have been striped down either in the name of 'Divinity' or 'Barbarity´, both for the same sake; i.e. what they possess; land, water resources or oil.

The period after the First World War is a well documented time in Kurdistan's history, illustrating how the British, French and Russians, with their local collaborators subdued the Kurdish people's aspiration for sovereignty, thereby securing access to enormous oil resources. The revenues from oil production and sales from Kurdistan were never paid to its inhabitants, but shared with local foes, which resulted in additional suppression.

Despite the shift in the power structure in the aftermath of the Second World War, the economic structure of oil production, i. e. the ability to control and benefit from own oil export never materialised in Kurdistan. Why? Because of successful break up policy exerted upon the Kurdish national movements on various regional and local levels.

History is a mirror through which one can foresee the future. Handling the lessons of the past and acting promptly, one may obtain the opportunity of shaping life and making dreams come true via organised and well-planned efforts.

Confidence in Kurdistan's political ability and aspiration for sovereignty has grown sharply since the overthrow of the former Iraqi regime by the US and allies in 2003. And we know that this heroic action was not designed to save Kurdistan from the plight of Sadam regime, rather to secure the US strategic interests in the Middle East.

Kurdistan deserves peace, stability and democratic organisations instead of war, terror and ethnic cleansing. But mutual understanding and peaceful solutions of conflicts never got a chance whenever Kurds demanded their legitimate share of the oil wealth and democratic rights.

Should the so called 'Baker-Hamilton Plan' come into fruition; all achievements in Kurdistan during the past decades, as well as any prospect for a democratic confederation in Iraq will fail. It will be a very certain route to instability of the whole region, which in turn is important for global stability.

The KRG has taken clear steps to secure control of its territorial natural resources, specifically the most valuable export commodity; oil.

'Ministry for Natural Resources' presented Kurdistan's Petroleum Act/Petroleum Laws to the International Oil community on Sep. 20th 2006 in London. This meeting was attended by a large number of Oil executives, and was a well received promotion campaign to encourage oil investments in Kurdistan.

Despite the strong devotion by the KRG to the issue, the outcome was a meagre one. Why? The answer is to be found in Baghdad, within the Oil Ministry, and how Mr Shahristani (Iraqi Oil Minister) denounced the KRG London promotion campaign hours later the same day. He rejected KRG's legitimate and constitutional rights to control and develop its own oil industry. Consequently, the foreign oil companies restrained from investing in Kurdistan as they tuned into the animosity from Baghdad.

So, what is the way out of this dilemma? The answer is to look at the mirror of the past, to learn from it, and secure its own legitimate rights (no less, no more!). How did the KRG manage its relative security to keep the terror out of Kurdistan? Would it be possible without its devoted Peshmarge army?

In the same manner, it is crucial to be confident about self-ability for developing the oil sector in the Kurdistan region without reliance on Baghdad. One never receives anything useful by politely asking for it from aggressive competitors. It is necessary to consider alternative approaches to secure the future of Kurdistan. The KRG needs to define its clear strategy regarding the creation of its own Oil and Gas industry. The way to sovereignty has just one route at this historical crossroad, as it was wisely stated by Ofra Bengio, Senior Lecturer at the Middle Eastern and African Studies in Tel Aviv.

"After all, oil has been the main incentive for US support for other small states in the Gulf region, if they (the Kurds) manage to control an important oil producing region, they will gain the strategic importance they have always lacked."




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Posted on Tuesday, December 19

US army office to assist investors in Kurdistan


By Qassim Khidhir
The U.S. Army opened a civil affairs bureau on Monday in Erbil to assist international companies and nongovernmental organizations (NGO's) in investing in Kurdistan.

Lt. Col. Jack Lomedico, bureau chief, said they would not be carrying out any service projects, but they were there strictly to attract international investment and help NGOs to sustain the economy and produce more jobs in the region, as well as assist national companies in exporting Kurdish products to countries such as the United States.

"We are here to help the Kurdish government and people; we want to make them economically independent, not dependent on the goods of other countries," said Lt. Col. Lomedico.

The bureau stationed in Ministry of Planning in Erbil city.

Even though Iraqi Kurdistan is an agricultural region, most of its agriculture products, and other products, are imported from neighboring countries. Every day, tons of imported agriculture and other products are sold in the Kurdistan Region.

In order to effectively support products produced locally, a recently conducted study has concluded that it will take four billion Iraqi dinars to build the required processing plants.

"I heard four million people live here and one million people are working for the government, but the government can't sustain that. They need to bring business and cooperation to the people who can work for the private industry so that the government can collect more taxes. That's how a free society works," said Lt. Col Lomedico.

When a company or a businessman comes to us, he should have a very good business plan to help sustain the economy here and produce jobs, said Lt. Col. Lomedico.

"We are going to find out what kind of products Kurdistan has. We will help the KRG or any local company that wants to export products. We have people in the United States who may be interested in purchasing products that are made here," he said.

Lt. Col. Lomedico mentioned that they have contacts with some organizations that give loans to people who want to launch businesses.

"When a company or a businessman comes to us, he should have a very good business plan to help sustain the economy here and produce jobs," said Lt. Col. Lomedico, referring to people who want to apply for business loans.

He concluded that when international companies and NGO's come to Kurdistan, the bureau would help them solve difficulties and point them in the right direction.




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Posted on Tuesday, December 19 @

Construction Rollup: Project Starts, Completions


BAGHDAD, Iraq - The U.S. Army Corps of Engineers Gulf Region Division completed 11 reconstruction projects and began 12 new projects from Dec.1-17, 2006.

Construction was completed on three Gas and Oil Separation Plant projects in Basrah Province (pictured). The $15 million projects replaced looted and missing items; rehabilitated each plant, which included restoring electrical systems; and provided commissioning assistance. These projects will help increase Iraq’s crude oil processing capacity, feed gas required to support liquid petroleum gas, and sustain crude oil flow in pipelines.
Other completed projects include 2.4 kilometers of paved roads in Ninewa Province, and 14 kilometers of paved roads in Babil Province - providing more than 130,000 residents more access and safer, smoother thoroughfares.

"Iraq’s vast oil and natural gas resources promise a prosperous future for the country," said Brig. Gen. Michael Walsh, commander of the Gulf Region Division. "GRD has an end goal of 3 million barrels of crude oil per day. By working with our Iraqi partners, we are confident we will reach this goal and assist in Iraq’s economic recovery."

More than 97 percent of the Gulf Region Division’s Transportation and Communications sector projects - which include roads, bridges, airports and railroad stations - have been started.

At the transfer of sovereignty in June 2004, there were just 200 projects started. As of Dec. 8, 2006, the Department of Defense has 3,446 total planned projects representing a construction cost of $6.77 billion.

642 are under construction at a construction cost of $2.50 billion.
2,687 have been completed at a construction cost of $3.56 billion.
117 more projects are planned.
The results of these efforts have improved the quality of life for all Iraqis:
Due to added capacity and normal operation and maintenances of systems, electrical generation is at 4,228 megawatts, serving approximately 310,000 homes with an end goal of 6,000 MW and 1.3 million homes served.
Potable water is at 430k m3/day with 2.2 million people affected with an end goal of 1,136k m3/day and an end goal of 5.2 million people affected. Crude oil production is at 2.5 million barrels per day with an end goal of 3 million BPD.
Throughout Iraq, U.S. government ongoing projects contribute to the ever improving quality of life and economic stability - helping provide the foundation for the country to build upon as it overcomes a generation of neglect.
Source: Blackanthem Military News

Iraq's Economy is Booming - Newsweek: International Editions - MSNBC.com

Dec 18, 2006

In what might be called the mother of all surprises, Iraq's economy is growing strong, even booming in places.

Newsweek International

Dec. 25, 2006 - Jan. 1, 2007 issue - It may sound unreal, given the daily images of carnage and chaos. But for a certain plucky breed of businessmen, there's good money to be made in Iraq. Consider Iraqna, the leading mobile-phone company. For sure, its quarterly reports seldom make for dull reading. Despite employees kidnapped, cell-phone towers bombed, storefronts shot up and a huge security budget—up to four guards for each employee—the company posted revenues of $333 million in 2005. This year, it's on track to take in $520 million. The U.S. State Department reports that there are now 7.1 million mobile-phone subscribers in Iraq, up from just 1.4 million two years ago. Says Wael Ziada, an analyst in Cairo who tracks Iraqna: "There will always be pockets of money and wealth, no matter how bad the situation gets."

Civil war or not, Iraq has an economy, and—mother of all surprises—it's doing remarkably well. Real estate is booming. Construction, retail and wholesale trade sectors are healthy, too, according to a report by Global Insight in London. The U.S. Chamber of Commerce reports 34,000 registered companies in Iraq, up from 8,000 three years ago. Sales of secondhand cars, televisions and mobile phones have all risen sharply. Estimates vary, but one from Global Insight puts GDP growth at 17 percent last year and projects 13 percent for 2006. The World Bank has it lower: at 4 percent this year. But, given all the attention paid to deteriorating security, the startling fact is that Iraq is growing at all.

How? Iraq is a crippled nation growing on the financial equivalent of steroids, with money pouring in from abroad. National oil revenues and foreign grants look set to total $41 billion this year, according to the IMF. With security improving in one key spot—the southern oilfields—that figure could go up.

Not too shabby, all things considered. Yes, Iraq's problems are daunting, to say the least. Unemployment runs between 30 and 50 percent. Many former state industries have all but ceased to function. As for all that money flowing in, much of it has gone to things that do little to advance the country's future. Security, for instance, gobbles up as much as a third of most companies' operating budgets, whereas what Iraq really needs are hospitals, highways and power-generating plants.

Even so, there's a vibrancy at the grass roots that is invisible in most international coverage of Iraq. Partly it's the trickle-down effect. However it's spent, whether on security or something else, money circulates. Nor are ordinary Iraqis themselves short on cash. After so many years of living under sanctions, with little to consume, many built up considerable nest eggs—which they are now spending. That's boosted economic activity, particularly in retail. Imported goods have grown increasingly affordable, thanks to the elimination of tariffs and trade barriers. Salaries have gone up more than 100 percent since the fall of Saddam, and income-tax cuts (from 45 percent to just 15 percent) have put more cash in Iraqi pockets. "The U.S. wanted to create the conditions in which small-scale private enterprise could blossom," says Jan Randolph, head of sovereign risk at Global Insight. "In a sense, they've succeeded."

Consider some less formal indicators. Perhaps the most pervasive is the horrendous Iraqi traffic jams. Roadside bombs account for fewer backups than the sheer number of secondhand cars that have crowded onto the nation's roads—five times as many in Baghdad as before the war. Cheap Chinese goods overflow from shop shelves, and store owners report quick turnover. Real-estate prices have risen several hundred percent, suggesting that Iraqis are more optimistic about the future than most Americans are.

Army Engineers Work to Improve Iraq’s Oil Export


By A. Al Bahrani
BASRAH, Iraq - The regime change in Iraq has opened many new opportunities and important development projects in the southern oil fields of Iraq. The U.S. Army Corps of Engineers (USACE) is working on various projects to ramp up oil production for the new democratic country and help improve Iraq’s economy.

One important project is the Al Basrah Oil Terminal (ABOT), formerly known as Mina Al-Baker. ABOT is considered to be the gateway to Iraq’s prosperity.

"Right now oil is Iraq’s major export. It isn’t easy to increase oil exports, but the Corps has plans of raising the crude output to meet three million barrels per day in 2007," said Bob Tillisch, oil program manager with the Basrah Area Office of the Gulf Region South District. He said experts estimate Iraq has about 115 billion barrels of oil reserves, concentrated mainly in the south.

"The main objective of the ABOT development project is to create a strong and reliable source of income for Iraq, improve Iraqi living conditions, and create new opportunities for employment," Tillisch said.

During Phase One of the refurbishment of ABOT, according to Tillisch, a hydraulic bridge system was installed at Platforms A and B, and the telescopic platform bridging systems at Berths 1, 2, 3 and 4 were removed, repaired and reinstalled. Also, the hydraulic power units, the directional control valves and other system-critical equipment were refurbished.

ABOT previously operated without a functioning fire and gas protection system, Tillisch explained, and there were no fire or gas detection sensors or pressure alarm systems. The emergency shutdown valves were either corroded or missing, and the firewater pumps did not work effectively.

"During Phase Two, we (USACE) provided a modern fire-fighting system with both diesel and electrical fire-water pumps throughout the platform in case of fire. Also, this new system will have fire-fighting foam capabilities in order to increase its effectiveness. This replaces the previous system which was outdated," he added.

At present, there is no effective way of metering how much oil is loaded on board tanker ships. Iraq’s South Oil Company (SOC) has to measure the cargo tanks by hand.

USACE will supply modern metering devices for platforms A and B, Tillisch said, which will ensure that the total amount of oil exported from the ABOT can be accurately measured electronically.

"The renovation includes new radio communication equipment at eight sites throughout the southern Iraq oil fields and refineries including the ABOT," Tillisch said. "This will ensure that pumping oil from the mainland to the ABOT can be done more safely and effectively by a modern communication system.

"The installation of radios, battery back up systems and new microwave dishes will greatly increase safety to enable the South Oil Company to start and shut down in an orderly and efficient means. In case of an emergency at the ABOT, all pump stations can be shut down immediately. Such an action will increase the safety in case of fire here at the ABOT," he said.

USACE will provide an emergency shutdown system for Platforms A and B, according to David Anderson, a construction representative with the Basrah Oil Office.

"This will consist of an electrical control station and all associated wiring and valves," Anderson said. "In case of an emergency, the SOC operators will have a safe and efficient means to turn off the loading to the oil tanker which is tied alongside the pier."

In order to provide a reliable source of lighting and power for ABOT, USACE refurbished the four old diesel generators installed in 1979. The Corps also is providing life-saving equipment and life rafts for evacuation from ABOT in case of an accident.

"Remember, being on the ABOT is almost like being on a ship," Anderson said. "All SOC personnel can safely use the SOLAS (Save Our Lives at Seas) equipment, which are approved life-saving boats."

For Anderson, this $50 million project has been designed to increase the terminal’s loading capacity to three million barrels of oil per day, and to enhance the reliability and safety of the terminal operations. The ABOT program will help all of Iraqi’s people.

Note: Mr. A. Al Bahrani is a public affairs specialist at the U.S. Army Corps of Engineers, Gulf Region South District.

Source: Blackanthem Military News

Tourism to maintain Khan Margin


The specialist cadres at the State Board of Antiquities and Heritage, one establishments of State Minister of Tourism and Antiquities have started the maintenance works and rehabilitate the archaeological Khan Margin in al-Shorga Neighborhood, Baghdad.

In press statement, an official source at the ministry said: that the work in the project had started in the beginning of the current month, aiming to protect and maintain the khan building which negatively impacted as a result to the rising of ground water levels and to the sewage system leak.
Source: Al Sabaah




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Posted on Monday, December 18