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

Originally Posted by neno

Liquidity financial investment banking

The role of banks is no secret important in the organization of business and especially the import, export and special loans to ensure that exports and investment and insurance on imported materials, bank drafts and credit cards, which in turn reduce the risk transfer and cash circulation and contribute to the achievement of an important part of the mother Nee about economic transformations the same direction in order to activate the free market in light of the Iraqi modern developments and important changes that the country is going through.

What is needed to why we should research in this vital area and to contribute to the development of the Iraqi economy through some trends which must Iraqi banks, civil and governmental, to keep pace with global developments in the field of banking policy, as well as in the technical aspect of the development of the methods of work. , As well as coexistence with the motivation of the market away from the bank one (monopoly), which dominated Iraq after the nationalization of private banks and foreign 1964 until 1992, a period of four decades made Iraq the policy of the bank is one of the decision is far from the mentality of political policies of the banks in the world and neighboring countries b counting that Iraq was in the forefront of countries that had achieved success in banking.

In addition, banks must seek to integrate with each other and harmony with the Arab and foreign banks to maximize the capacity and enable banks in the regional and international competition. It supports directed the Central Bank through leave foreign banks with high capacities and experiences of developed and advanced technical to increase the Iraqi market expertise and capabilities advanced technology and benefit from the financial capabilities to achieve economic transformations in Iraq.

banks are where its going to happen first. banks in iraq to integrate technologically-wise. they are all getting their SWIFT codes already.

there is interbank capabilities with SWIFT system. banks will filter in the FX monies.

everybody who already invested in the ISX i hope you have bank stocks. and those who are going to, want to look at the banks FIRST. THEN industry later.

Korean companies to venture in Iraqi oil sector

MENAFN - 27/09/2006

(MENAFN) Iraqi officials revealed recently that Korean companies are preparing to start investing in oil fields in the southerb abd central areas of the country, Alsabaah reported.

During a meeting between Iraqi oil minister and Korean ambassador in Baghdad, the Korean official stated that South Korea is currently preparing to venture in joint projects that will invest in oil fields and other oil investments.

It's worth mentioning that the oil ministry is currently negotiating to solve disputes with the Turkish government regadring the importing of oil derivatives as well as Iraqi debts.

MENAFN - Middle East North Africa . Financial Network News: Korean companies to venture in Iraqi oil sector

Originally Posted by Dr. Mike

I thought Iraq was not getting anymore money from US. Does this knock the RV rumor??? Hope not!!!!

I read this as for our troops. I did not see anything that stated reconstruction funds for Iraq. This is simply our funding for our troops and the conflict.

Am I missing something?
OSOK

Originally Posted by archangel

Iraq may revive deal with China
BAGHDAD: Iraq could hand China the first foreign contract to develop its vast oil resources if Beijing agrees to put into effect a deal originally signed with Saddam Hussein, Iraq's Oil Ministry said yesterday.

While US oil majors, excluded from Iraq before the US invasion in 2003, wait for Iraq to pass new laws on the sector before investing, Oil Minister Hussain Al Shahristani will visit China, Japan and Australia shortly to discuss projects and developing exports, ministry spokesman Asim Jihad said.

"The minister will discuss with Chinese companies fulfilling previous contracts signed with the former regime," he said.

He declined to give specific dates for the trip.

Iraqi oil officials have previously said they believe China will agree to develop the 90,000-barrel per day (bpd) Ahdab field in south central Iraq as the first project since the war.

The field, with an estimated development cost of $700 million, was awarded to China National Petroleum Corp and Chinese state arms manufacturer Norinco by Saddam.

The deal, like others signed by Saddam, was effectively frozen by international sanctions and then Saddam's overthrow.

Several wells are already delineated, however, although there is no production from Ahdab at present. A second field, East Baghdad, is also slated for priority development.

The four-month-old government has given priority to Ahdab because of its proximity to new power stations and refineries.

The ministry has previously said it expects output to increase from 30,000 bpd to a full capacity of 90,000 over two years.

"The visit comes while the oil investment law is waiting to be approved by parliament," Jihad said of Shahristani's tour.Iraqi ministers have said they hope to see legislation by the end of the year setting down the terms on which foreign companies can invest in hydrocarbon resources to help Iraq develop its war- and sanctions-ravaged oil industry.

Shahristani has said he hopes to discuss investment with a range of major international companies once the law is passed.
Gulf Daily News

wha???????????

"The visit comes while the oil investment law is waiting to be approved by parliament," Jihad said of Shahristani's tour


So does this mean it is not passed yet?

Originally Posted by OneShotOneKill

I read this as for our troops. I did not see anything that stated reconstruction funds for Iraq. This is simply our funding for our troops and the conflict.

Am I missing something?
OSOK

Actually, it can be seen in several ways, IMO. If we dont fund our troops, then Iraq will be on their own. So the US can use it as leverage also, towards Iraq. You get it done, we will stay. But in order for us to stay it will cost.

Originally Posted by jsfletcher

"The visit comes while the oil investment law is waiting to be approved by parliament," Jihad said of Shahristani's tour


So does this mean it is not passed yet?

foreign investment law is done and passed IMO, THIS is the OIL investment law. this is the puppy they said wouldnt be done til the end of the year. THIS is what INSURES us backing for the HIGH RV!!!!!!!!

having a meeting at 10pm last night about the territories etc. tells me they are in a BIG HURRY! and here we are being impatient. give em a minute. lol

Originally Posted by archangel

Iraq may revive deal with China
BAGHDAD: Iraq could hand China the first foreign contract to develop its vast oil resources if Beijing agrees to put into effect a deal originally signed with Saddam Hussein, Iraq's Oil Ministry said yesterday.

While US oil majors, excluded from Iraq before the US invasion in 2003, wait for Iraq to pass new laws on the sector before investing, Oil Minister Hussain Al Shahristani will visit China, Japan and Australia shortly to discuss projects and developing exports, ministry spokesman Asim Jihad said.

"The minister will discuss with Chinese companies fulfilling previous contracts signed with the former regime," he said.

He declined to give specific dates for the trip.

Iraqi oil officials have previously said they believe China will agree to develop the 90,000-barrel per day (bpd) Ahdab field in south central Iraq as the first project since the war.

The field, with an estimated development cost of $700 million, was awarded to China National Petroleum Corp and Chinese state arms manufacturer Norinco by Saddam.

The deal, like others signed by Saddam, was effectively frozen by international sanctions and then Saddam's overthrow.

Several wells are already delineated, however, although there is no production from Ahdab at present. A second field, East Baghdad, is also slated for priority development.

The four-month-old government has given priority to Ahdab because of its proximity to new power stations and refineries.

The ministry has previously said it expects output to increase from 30,000 bpd to a full capacity of 90,000 over two years.

"The visit comes while the oil investment law is waiting to be approved by parliament," Jihad said of Shahristani's tour.Iraqi ministers have said they hope to see legislation by the end of the year setting down the terms on which foreign companies can invest in hydrocarbon resources to help Iraq develop its war- and sanctions-ravaged oil industry.

Shahristani has said he hopes to discuss investment with a range of major international companies once the law is passed.
Gulf Daily News

yes!!!

Originally Posted by shotgunsusie

wha???????????

Do you think Iraq will hold loyalty to the US - or say thanks for all the help, but, ummm - we think we are going to let China develop our oil fields.
That would be something huh!!! That might not sit too well with all GBush's friends with pump in hand. LOL

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Iraqi aircraft for the protection of vital installations

Basra often vision :

Eight of the pilots began training Iraqis in the Basra airport on the type of aircraft reconnaissance Mseger devoted to the control of oil fields and electric power stations in the south in order to maintain security and order and prevent saboteurs damage vital installations
This was announced by an official source at Basra International Airport and said that these planes able to fly for six hours and equipped with infrared and send pictures and recording films rapid and said that eight other planes for this purpose arrive soon from Australia to 16 the total number of aircraft to carry out this task.
On the other hand, the leadership within the Customs and the southern region of receipt passenger terminal at the airport and mobile patrols to provide security after the withdrawal of the multinational forces to the northern part of the airport and formally announce the opening of Basra International Airport in the next few days for air navigation to m Khtlv parts of the world.