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

Forecast
Sep 26th 2006
From the Economist Intelligence Unit
Source: Country Forecast

Country Forecast Iraq

The Iraqi government will struggle to make much impact on the sectarian conflict being waged by Iraqi militias for political and territorial advantage. The coalition presence is increasingly irrelevant, as the struggle between these forces for control on the ground takes centre stage. Furthermore, the interest of different Shia parties in the south in gaining control over the oil sector will make substantive constitutional compromise difficult. Some points of agreement exist between parts of the Shia coalition and the Sunni Arab and Kurdish politicians represented in parliament. However, sectarian considerations are likely to prevent a realignment leading to a new government. The increasing prospect is that Iraq will not see a marked reduction of violence over the forecast period. Local territorial conflicts are likely, as opposed to larger-scale secessionist moves, although such a scenario is possible in Iraqi Kurdistan, unless a compromise is reached over the final status of Kirkuk. As long as there is sufficient commitment to a national political process, though, the complete collapse of the country is unlikely.
Economist.com | Country Briefings: Iraq

Originally Posted by opps50

Yep, no offense SGS

Can you guarantee 100% that they revalue before oct 1st?

No, and thats why I am asking

Do you think we will have to wait to after ramadan?

Well really, opps50, HOW COULD SHE!?

Susie isn't part of their government and doesn't have any influence on their time-schedules. And even if she was - as someone else said before, one single well-placed bomb could change all the plans.

Antje

Originally Posted by shotgunsusie

this is what ive got my bets on as well. it all points so obviously to me.

I just find it so strange this have this big important meeting with all these important people, They tell the press how urgent it is ask all the various media there and we cant find a thing on it this morning SOMETHING IS UP BIG TIME!!! personally I think when the FX market closes tonight could be very interesting. And as was pointed out by various posts there is just to much positive news coming out at the moment to ignore the way this is going. As always Thanks to all who post us the news from those of us that dont have the time to dig, VERY APPRECIATED.

Originally Posted by shotgunsusie

does anyone else find it very odd that most of the news out today is old? or that there has been NOT ONE WORD about the late meeting last night. meeting earlier in the day was mentioned in the article earlier in this thread but we have found not one single article mentioning the big media event they were making that out to be 'urgent urgent'. so where are the press and media reports???

come one come all to the embargo event!!

SGS yes I find it very odd! With all of the news you burried me with yesterday...my eyes still burn!...I thought today I would find allot more. I was really looking forward to reading THE ONE! But what the heck I can wait a little more!

Come on everybody...hang in there. Everything points to a reval. Just because an announcement hasn't officially been made does not mean it has not happened. We have to remember that Iraq follows a whole separate set of rules, their own. As a matter of fact there is probably so much closed door, hand-shake, whisper deals going on that we will never know about....but in the end we get the reval. We only have 2 days left. Keep your ears and eyes open, your browsers searching, and the international news station on...that way you have all your bases covered!!!! Get excited...It's going to break any minute!

Parliamentary delegation for a dialogue with the Iraqi opposition abroad

(Voice of Iraq) - 29-09-2006 | This issue was sent to a friend

Parliamentary delegation for a dialogue with the Iraqi opposition abroad ... Legal Committee and the Committee of the Regions disputed powers
Baghdad-Amri as the life-29 / 09 / 06 / /

A member of the Frente Al compatibility »Sunni Khalaf Al-Alyan told Al-Sharq Al-Hayat» nomination Alvluji Hussein, member of the Committee on Territories for the chairmanship of the Non parliamentary, instead of Zafer Al-Ani, who submitted his resignation last Tuesday in protest at the reading of the federal law.

Alyan said that the Front nominated Alvluji, a member of the Committee on constitutional amendments, the parliament approved the names of 24 members, in its recent (last Wednesday) for the chairmanship of the Non studying law in consultation with the regions and legal assistance for the second reading after making the necessary adjustments.

He pointed out the presence of Al differences between parliamentary blocs on the law as it adheres to block drafts of which were submitted to the House of Representatives, including Al Virtue Party bloc »Islamic bloc and the Iraqi Al» the need for integration projects in the project by the bloc »Al coalition to produce a final compromise that would satisfy everyone or projects to be submitted Elker allegiance first individually, synthesis and assign committees with fueling a unified project takes into account all suggestions and objections terminate the rest of the bloc ».

He ruled deputy bloc compatibility »Iyad Al-Samarra'i possibility of providing Territories Act for the second reading during the next meeting of the Council scheduled next Monday. He told Al-Hayat »that there are outstanding problems between the Legal Committee and the Committee of the Regions, because of the conflict between the two on the powers granted each. Considering the Legal best able to formulate the law of the provinces and submitted to the presidency of the parliament, With calls for the Commission to refer the project to the Territories for consideration, and the preparation of the draft law and referred to the legal committee for later ».

He pointed to "confuse and clear in dealing with the issue arising from the transmission Deputy Speaker Khalid al-Attiyah draft law on the legal committee without referring to the Speaker of Parliament and ignored the role of the regions, which generated objections to the broad political blocs».

In relation to the Bloc MP Al Very able Assyrian »member of the political committee of the supreme body of the National Reconciliation Commission, Unadim Kana that Al will resolve the issue of final selection of candidates, Christians and Turkmen Alaizidin of the amendments to the Constitution, the parliament approved the 24 candidates for membership in the two deputies offerings They revive, Turkomen and Alaizidion the candidates, after the Islamic bloc called for Iraqi Turkmen candidate to be selected from within the Turkmen bloc with the deputy rejected the Christian Abdul Ahad Afram (Kurdistan Alliance) candidate to represent Christians, He preferred to consult with other representatives of the Christians in the Parliament for the selection of the appropriate personal constitutional amendments ».

Alaizidion objected to the selection of these representatives and demanded another candidate instead.

Dialogue and committees formed by the supreme body of national reconciliation, which will travel outside the country to open a dialogue with the Iraqi opposition to the political process abroad, we emphasized that "for the parties began a dialogue with the parties that have remained outside the home within the government, As head of the Committees for dialogue with the opposition outside the country to dialogue with dignitaries and members of the political opposition to the political process », He pointed out that to determine the final location for the convening of the parties and religious currents have been excluded of Kurdistan. the impact of landing the President of the Iraqi flag raised some reservations of some figures and blocs which refused to attend the conference if convened in Arbil, or any other city from the cities of the province ».

Sotaliraq.com

Oil Ministry: We will Reconsider all Investment Contracts
28 September 2006 (Al-Hayat)
Iraqi Oil Minister, Hussain Ashahristani, stated to the press in Baghdad that the ministry is not bound to the contracts concluded previously. He added that the Iraqi Oil Investment Law will solve the problems resulted in from concluding these contracts. The drafting of the law is supposed to be finished and approvals gained from the cabinet and parliament by the end of the year. “The Ministry is studying all the contracts concluded with companies including those concerning Kurdistan Region”.

This subject is one of many that have been discussed early this month during the three meetings of the Ministerial Energy committee presided by deputy prime minister Barham Salih. The Kurdish side has finished drafting the oil law of Kurdistan Region and was supposed to be presented to the Kurdish Parliament soon. However, some sources anticipated that the presentation of the bill will be postponed for later due to the continuous coordination and discussions with the Iraqi Energy committee in order to avoid any contradiction and duality in laws.

Also, the Ministerial Committee has agreed to transfer all oil profits, from the new and current fields, to a central authority and then distribute them according to the population in each province. But the disputes over who will distribute the money among provinces and regions, and who will discover and develop the new fields are still on.

Another dispute is still going on among the concerned sides over who will undertake the responsibility of negotiating and signing the excavation and developing contracts with foreign companies. In spite of the many statements of Minister Ashahristani about the central role of the Ministry in reconsidering and agreeing to all contracts, the Kurdish constitution draft is presuming otherwise and entrusting the Kurdish authority with these jurisdictions.

Officials in the Supreme Council of Islamic Revolution in Iraq, headed by Mr. Abdulaziz Al-Hakeem, stated more than once that they will apply the same laws legislated in Kurdistan region in the suggested central and southern region as well.

Iraqi Minister of Oil, Hussain Ashahristani, confirmed that his ministry will start investing two fields east of Baghdad as well as Al-Ahdab field at Kut in the south of Iraq during the next few days. He said that his investment process is the first in oil fields; 30 thousand barrel a day of crude oil will be excavated from Al-Ahdab field as a first stage rising to 60 then to 90 thousand barrel a day as a maximum production power during the third stage. He pointed out that the excavated amounts will be invested to supply Al-Kut electricity station which will be operated soon by the Ministry of Electricity.

I also read in another post that he's going to be on tour in the middle of oct. signing contracts. doesn't that mran the oil law ha to pass?

Gulf Daily News

AUB completes purchase of 49pc Iraq bank stake
MANAMA: Ahli United Bank (AUB) has completed the acquisition of 49 per cent stake in the Commercial Bank of Iraq, one of the largest private banks in Iraq.

As a result of this acquisition, the capital base of the Commercial Bank of Iraq has increased to $43.7 million from $9.6m.

The Commercial Bank of Iraq was established in 1992. Since its inception, the bank has performed consistently well and its total assets were ID131 billion ($ 89m) and net profit was ID1,927m ( $1.28m) as of June 30, last year.

"The acquisition represents a significant step for Ahli United Bank and another important milestone in our strategy to become a major regional banking group." said chairman Fahad Al Rajaan.

"The economic potential for Iraq is tremendous. After years of economic isolation, the rebuilding of the country's industry, infrastructure and oil sector will need considerable banking support.

"With an educated population, vast oil wealth and the opening up of the economy, Iraq is at the threshold of progress and development; as soon as the security atmosphere improves."

Given the current security situation in Iraq, AUB will adapt a gradualist approach towards developing its presence and operations, said Mr Al Rajaan.

The Commercial Bank of Iraq, established in 1992, has nine branches, eight in Baghdad and one in Basra.

The bank provides commercial banking services and employs 364 people.

Meanhile, AUB has signed an agreement with the Arab Trade Financing Programme (ATFP).

The agreement will allow the bank to extend ATFP's credit facility of $30m to its customers to support foreign trade flows. It was signed by ATFP chairman and chief executive officer Dr Jassim Al Mannai, and AUB group chief executive officer and managing director Adel El Labban.

ATFP trade development director Sherif Abdel Khalek was also there.

Under the terms of the new agreement ATFP, will refinance the credit extended by AUB to its eligible customers in Bahrain. AUB will, therefore, be able to assist the growth of the export-oriented manufacturing and services sectors in Bahrain.
The Abu Dhabi- based ATFP, a specialised financial institution launched by the Arab Monetary Fund, has done extensive work around the Middle East region to develop and promote trade in Arab countries and improve the competitive capabilities of Arab exporters.
"AUB is pleased to be associated with the ATFP, an institution that has been pivotal to the increase in trade in the Gulf countries," said Mr El Labban.
"AUB will be able to further promote the kingdom's commerce and industry by financing and encouraging local exports to the rest of the Arab world and beyond.
"The partnership between AUB and the ATFP will help exporters to manufacture and market goods abroad efficiently."

Iraqis draw closer to self-sufficiency

By WILLIAM B. CALDWELL IV

Published on: 09/29/06

Let's put the bad news up front: Extremist elements in Iraq are vying for political and economic power and are seeking to take advantage of this delicate stage of transition in Iraq's history.

Sunni and Shia extremists are using brutal and provocative tactics against one another. Baghdad is the center of gravity for this increasingly sectarian conflict. There are also foreign terrorists infiltrating the borders, renegade death squads, an insurgency and foreign governments who seek to exert influence on Iraqi politics.

This, however, is only part of Iraq's present story. The violence belies the gradual but remarkable transformation this nation is experiencing.

Three years ago, there were virtually no security forces in Iraq. Today, Iraqis are standing up in military and police forces that number more than 300,000. In coming months, the coalition and the Iraqi government will reach the goal of 325,000 trained and equipped force members.

Quality is improving with quantity. In April 2004, almost all Iraqi forces fled in the face of a militia uprising in Najaf. This August, when militia attacked an Iraqi army outpost in Diwaniyah, the Iraqi army counterattacked and killed 50 militiamen.

By the end of August, Iraq's special-ops brigade, with U.S. combat advisers, had netted 1,320 detainees in 445 operations all over the country this year, including three senior militia leaders and 20 most-wanted individuals. This month, Iraqi forces provided a safe environment for more than 4 million Shiite pilgrims celebrating the birth of the 12th Imam. And it was Iraqi forces operating independently who recently captured a major al-Qaida in Iraq leader, Abu Hammam.

A functioning command structure is in place. This month, Prime Minister Nuri al-Maliki became commander in chief of Iraq's military in more than name only. That is, the Ministry of Defense and the Joint Headquarters — who report to the prime minister — assumed operational control of the Iraqi ground forces command, navy and air force. Before Sept. 7, coalition forces exercised control of all of Iraq's military. Now, two of Iraq's 10 army divisions fall under this command structure. More will soon follow.

Security will only improve with simultaneous political and economic progress. Under Saddam Hussein, government served the will of the dictator and primarily served one sect. Today, Iraqis are learning to share power and wealth.

Local governments — provinces, districts or neighborhoods — are beginning to take responsibility for their citizens. The government must work to heal the wounds of this fractured society by getting all factions to reconcile.

In Baghdad, several hundred Iraqi civil society representatives renounced violence this past weekend at the second of four conferences that are part of Maliki's overall 24-point national reconciliation and dialogue plan.

The Iraqi government met with representatives of neighboring and European countries to form an "international compact," aimed at getting help to transform Iraq's economy.

Iraq's new unity government is moving forward and will continue grappling with tough political challenges, such as how to balance power between central and regional governments (federalism) and how to divvy up the country's oil revenues. But Iraqis have succeeded in setting a road map for resolving these essential issues. We must maintain the patience to allow their critical efforts to come to fruition.
Iraqis draw closer to self-sufficiency | ajc.com

Originally Posted by Hope Full

Oil Ministry: We will Reconsider all Investment Contracts
28 September 2006 (Al-Hayat)
Iraqi Oil Minister, Hussain Ashahristani, stated to the press in Baghdad that the ministry is not bound to the contracts concluded previously. He added that the Iraqi Oil Investment Law will solve the problems resulted in from concluding these contracts. The drafting of the law is supposed to be finished and approvals gained from the cabinet and parliament by the end of the year. “The Ministry is studying all the contracts concluded with companies including those concerning Kurdistan Region”.

This subject is one of many that have been discussed early this month during the three meetings of the Ministerial Energy committee presided by deputy prime minister Barham Salih. The Kurdish side has finished drafting the oil law of Kurdistan Region and was supposed to be presented to the Kurdish Parliament soon. However, some sources anticipated that the presentation of the bill will be postponed for later due to the continuous coordination and discussions with the Iraqi Energy committee in order to avoid any contradiction and duality in laws.

Also, the Ministerial Committee has agreed to transfer all oil profits, from the new and current fields, to a central authority and then distribute them according to the population in each province. But the disputes over who will distribute the money among provinces and regions, and who will discover and develop the new fields are still on.

Another dispute is still going on among the concerned sides over who will undertake the responsibility of negotiating and signing the excavation and developing contracts with foreign companies. In spite of the many statements of Minister Ashahristani about the central role of the Ministry in reconsidering and agreeing to all contracts, the Kurdish constitution draft is presuming otherwise and entrusting the Kurdish authority with these jurisdictions.

Officials in the Supreme Council of Islamic Revolution in Iraq, headed by Mr. Abdulaziz Al-Hakeem, stated more than once that they will apply the same laws legislated in Kurdistan region in the suggested central and southern region as well.

Iraqi Minister of Oil, Hussain Ashahristani, confirmed that his ministry will start investing two fields east of Baghdad as well as Al-Ahdab field at Kut in the south of Iraq during the next few days. He said that his investment process is the first in oil fields; 30 thousand barrel a day of crude oil will be excavated from Al-Ahdab field as a first stage rising to 60 then to 90 thousand barrel a day as a maximum production power during the third stage. He pointed out that the excavated amounts will be invested to supply Al-Kut electricity station which will be operated soon by the Ministry of Electricity.

I also read in another post that he's going to be on tour in the middle of oct. signing contracts. doesn't that mran the oil law ha to pass?

article yesterday or the day before indicated that the law was before parliament awaiting a vote. i even mentioned the fact that they said not til the end of the year.