Thread: Archive News - Iraqi Dinar Think Tank - 08/09/09 - 09/01/10

Shahristani during interrogation: The Ministry was able to increase oil production in Iraq of one million and 835 thousand barrels to reach مليونين and 400 thousand barrels

said Oil Minister Hussain al-Shahristani, during questioning at the House of Representatives today, "said the ministry was able to increase oil production in Iraq of one million and 835 thousand barrels per day in 2006 when he took over as oil minister and مليونين to reach 400 thousand barrels.

He said he was also digging 65 new oil wells and the rehabilitation of 420 and revive the 35 wells in addition to the rehabilitation of the line carrier oil to Turkey, which was controlled by insurgents.

The Attorney Jaber Khalifa Jaber, the owner may request the Inquisition accused the ministry of failing to accomplish any large project, despite improvements in security and the presence of a large investment budget, pointing to the deterioration of oil production, especially in the fields of Basra, causing a large squandered public money, as well as lower revenues of oil sales in spite of the high price of oil.

He said al-Shahristani said his ministry's achievements are great for drying up funding for armed groups of the money obtained from the control of the Black Oil and use that to its terrorist and armed groups recognized this - he said.

In response to a charge of failing to implement any of the draft strategic oil-Shahristani said that non-implementation of strategic projects was due to apprehension of the ****uting companies from coming to Iraq to work in these projects due to security concerns. Noting that the situation improved after the department started the implementation of strategic projects he mentioned a giant being implemented to build a port floating deep in Iraqi waters in the Arabian Gulf to export one million and 600 thousand barrels per day and will be completed within two years.

Shahristani said he was for the first time surveys and wide in search of oil and the signing of investment contracts with major companies start competing to start a marine survey to remove mines from the waters of Iraq to establish regional platforms floating in it.

The oil minister, to complete a process of investment and exploitation of oil fields shared with Iran and Kuwait for the first time. He has been the creation of units of refineries in Najaf and the session in Baghdad and Basra and Diwaniya, Basra, Karbala, Maysan. But he explained that the reasons for the establishment of refineries huge because it takes about four years.

http://translate.googleusercontent.c...kl2POC2CcQt5Xg

CBI’s dollar sales slightly down on Tuesday

The Central Bank of Iraq’s (CBI) dollar sales slightly dipped to $154.250 million in its daily auction on Tuesday, compared to $159.965 million during the previous session.

“The demand was all 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.

http://en.aswataliraq.info/?p=121753

Is there a way to tell on what date the posts are placed in a forum>

Hi T.C.!
Welcome to ROLClub's IQD forum!
...Whadda ya mean? Like, looking at the upper left hand corner? At the moment I am responding to your post, it shows that you posted your question yesterday at such and such a time. After today, it will revert to showing that you posted your question on the 10th of November. Is that what you mean?

Blessings On YOU! AL

Good to see ya TC. Great group of folks here, quiet, no hype bunch, been there done that, now just looking to read serious and sometimes humorous adventures of "life in dinar Land".. Enjoy and don't be a stranger..67

11 November 2009

Asiacell is Featured in a CNBC TV Report
Confirming its position as a success story in the Iraqi telecom market

Attesting to its strong position in the Iraqi telecom market and positioning it as a success story in a highly competitive sector, Asiacell - the largest private Iraqi company and the first and only m.obile telecommunications company to provide coverage for all of Iraq - was recently featured on "On Assignment: Iraq", a CNBC TV report investigating foreign investment opportunities in Iraq. The report covered the trip of a group of American investors to Iraq to assess the investment potential within the country, and involved interviews with several businessmen and representatives of leading institutions within the country.

During the report, the CNBC reporter referred to Asiacell as the largest telecommunications company in Iraq, stating that according to one of the investors, "Asiacell's potential is so vast, that if it went public it would instantly double the total market value of the Iraqi stock exchange." The reporter also went on to describe the investors' experience after their tour of Asiacell's headquarters in Sulaymaniyah and their interview with Dr. Diar Ahmed, Asiacell's CEO, stating that investors were extremely impressed by the management at Asiacell.

"We at Asiacell are very pleased with the CNBC feature report, which helped highlight the plethora of investment opportunities in the country to foreign investors both in the USA and around the world," said Dr. Diar Ahmed. "As the largest private Iraqi company and the first and only m.obile telecommunications company to provide coverage for all of Iraq, it is our duty to actively contribute to the development of the Iraqi economy. Asiacell seeks to invest in developing a strong fiber optic backbone that will support the introduction of more advanced and efficient m.obile services, which coincides with our aims to offer our customers innovative and cutting-edge telecom services."

He added: "The fact that Asiacell was showcased as a success story in a highly competitive telecom sector such as that of Iraq testifies to the soundness of the company's business model and its strong position within the telecom market. Our commitment to introducing exceptional telecom services to the Iraqi market and to contributing to the development of a strong economic infrastructure in Iraq is part of our business plan, and we look forward to continuing to challenge ourselves to offer our customers the best services possible and help build the new Iraq."

It is worth noting that CNBC is a recognized world leader in business news, providing real-time financial market coverage and business information to more than 340 million homes worldwide.

http://www.zawya.com/story.cfm/sidZAWYA20091111110058

The role required of the Iraqi private banks

Continuation of the dialogue on the participation of Iraqi private banks in the investment process and the role of the country relied upon in the process of economic reform and the reality of unequal competition expected when entering the international banks with significant financial capacity and international economic relations and alliances, large variety, which covers all economic activities in addition to the experience accumulated with them and to avoid that Iraqi banks become one that is capable to take on small projects (standard) only offer the following ideas:

1 - from the need to amend certain legal supervision of the Iraqi private banks, with the support of the specialized organs of the State, to enable them to participate actively in the direct investment activities in Iraq, whether individually or to enter into partnerships with others inside and outside Iraq, such as:
- Other private domestic banks.
- Governmental institutions with the financial capabilities.
- Line ministries, including the government's financial authorities.
- Local private companies.
- Banks and foreign exchange houses.
- International investment companies interested in investing in Iraq

2 - sure to engage in such activities, for example a partner in the public companies that turn into joint-stock companies or as an essential partner in the strategic or other projects, especially those that are implemented in a partnership between the public and private sectors, both for existing projects or new projects, this activity will rapidly in developing the potential and the profits of these banks, in addition to its participation in the process of economic reform.

3 - the fact that the amount of money required to participate in the investment activities will be very high, including not compatible with the financial capabilities of the Iraqi banks for it within the concrete reality we believe it is what it takes to local banks:
- Development of specialized units to prepare solid detailed feasibility studies (technical and economic).
- The development, research units and strategies to undertake in-depth study details of projects available, and the style and level of participation and detail and propose policies Alastosmarmen through a good knowledge of the great potential in targeted projects and domestic and global market and on the basis of a feasibility study for the project.
- Conduct direct coordination and alliances with banks and money houses and Alastosmaralakulaimip and international
Such as the Arab Institution for Investment Guarantee and the Islamic Corporation for Insurance of Investment and the International Agency for Investment Guarantee, and others.
- Access direct investment in the investment projects in Iraq, either individually or in alliance and partnership with others.
- Moving to improve the cash position for her by private banks to increase capital investment in addition to the danger posed by coalitions of financial strength, to be able to cover the new policies for investment.
- Move to get government guarantees for credit and investment activity is growing Siezzmn reliability of its plans and projects.

3 - Taking into account that the dilemma in the success of the investment project is not only funding, it is important for the domestic banking sector, and through specialized units, research and strategizing, creating and strengthening mechanisms alliance with a corporate ****utive and engineering local and global as well as sober and with international companies and investment institutions to enter alliances with them for the purposes of operating, management, and marketing projects intended to enter partnerships in their implementation, whether the projects qualify for the list of units or new projects in full, including the transformation projects of public companies into stock companies or partnership projects with the public sector.

4 - can be for local banks, in coordination with the international banks and local consulting firms to contribute to the provision of advice to the evaluation work for public companies that Strom ministries converted to joint stock companies, approval policies for each of them. Thus, such activities are handled by the units of studies and research and strategies outlined above, requires anticipating and adapting to within the outlook for banks.

5 - in the light of the reality of the investment opportunities currently available, which will be available a large increase in the future as the country's need for investment to rise substantially, owing to the massive deterioration in all economic facilities, necessary for the local banks that sets out a vision and policies that move the process and to participate actively in the volume of work according to the expected large investment various means, including moving its part to attract foreign direct investment and to participate with him in the implementation of projects in Iraq, informed by these banks in advance, taking into account the very large size of the Astosmaralojunbi direct, which is supposed to flow in the country and the expected flow and required the efforts and communications organization and human capacity to achieve efficient.

6 - necessary for the local banks from approving civil and follow the policy and mechanism more flexible on the move:
- The mechanism and conditions of lending
- Interest rates and facilities.
- For loans and facilities to be able to actually enter into long-term lending to investors.
- Interest in providing liquidity and supporting facilities of any investment projects are planning to participate as an investment by the process, with plans to attract financial partners, foreign and local legal cover for such participation closer to becoming investment destination and a partner in future projects, not by a lender only.
- The targeting of an agreement with regional institutions and specialized international investment as well as ensuring that local institutions of government guarantors, which enhances the tranquility of investors and thus the success of projects, investment partnerships that have initiated implementation. To ensure the effective participation of local banks eligibility.

7 - in investment projects in Iraq, and through the Association of Banks or individually important to the effective coordination with the National Astosmaroheeiat investment in the provinces and with the services responsible for investment in the ministries and provincial councils, regarding the possible role played by the banks in the stated investment opportunities.

8 - that the participation of local community banks and their association in seminars and conferences local, regional and international investment promotion allow for more investment opportunities and the requirements of the declared participation in, and on future trends in investment activity and to present the vision and potential to participate in coordination with the sponsors and the Organization for these events and participate as well as with unions Iraqi businessmen and their institutions within and outside Iraq as well as local companies with their various specialties related to the investment process.

http://www.alsabaah.com/paper.php?so...page&sid=93292

Economic: 2010

Mobility of investment and widely seen in Iraq, represented in forums and conferences both external and internal. This activity gives reason for hope that the investment is based and built on the desire to carry large international companies

In return, seeking National Commission for Investment to provide the investment environment through the intensification of successful meetings with the ****utive bodies on the target for re-investment of infrastructure and the implementation of priority projects on the other hand.

There are some housing projects and construction started here and there, but did not know whether these projects are included in a package of projects, on which the body continuously through its website and promoted in those forums.

In order to see the project and to disclose its goals and the class that will represent this or that project, we consider it desirable to provide the press and ********* projects already started in its implementation.

Hear from here and there that the project is implemented in the municipalities or in other areas, without knowing anything about him, and such important projects and to endanger the lives of the citizen to be highlight.

We are on the threshold of the year 2010 you will start mega projects or is it that there is plenty of time to wait more?

http://www.alsabaah.com/paper.php?so...page&sid=93230

Haider Jourani: questioning 'Oil Minister' a waste of time

MP Haydar Jourani Alliance for the Presidency of the Council of Representatives to consider all the interrogations that offered by the House of Representatives.

Description Jurani told the independent press (Iba) question the oil minister as "a waste of time and was supposed to be put in the oil and gas, rather than serve a propaganda campaign."

He added that "it was shameful and poorly in the interrogation process, because the questions were the words of letters drawn from the Internet and not to the oil minister Shahristani any relationship questions addressed to him." (His words).

He Jourani "The minister of oil was at the top of the civil over the interrogation process."

The decision of the Commission on oil and gas Jaber Al Khalifa on the mass of virtue is one of the students to question oil minister, against the backdrop of accusations of financial and administrative corruption and the failure in the management of the ministry

http://www.ipairaq.com/index.php?nam...itics&id=17619

Bassem Sharif: oil minister not ready to run the department, and we will demand the withdrawal of confidence by

MP Bassem Sharif, a cluster of Virtue "said Oil Minister Hussain al-Shahristani, was not suited to run the department for failing to manage noting that al-Shahristani, uses the name of the Prime Minister to push through some things."

The House had questioned the oil minister for two consecutive Tuesday and Wednesday.

The Sheriff told the independent press (Iba), "despite a pledge by the minister upon receipt of the ministry that he will increase production to three million in 2007, but failed to increase and develop production and the establishment of new refineries."

And the production of oil from Iraq is currently 2,3 million barrels per day.

The Sheriff, "The 2009 budget had been delayed because of low oil prices and the lack of exports, the provincial councils did not receive financial T_khasisatha projects were not implemented due to the adoption of the Iraqi economy, 95% of the budget for Iraq for oil."

He said Sharif's all because of what he called "failed policy of the Minister", stressing that it will "collect 50 signatures to call for the withdrawal of confidence from it."

The number of deputies had considered convincing answers to the minister excluded make Lebanon the withdrawal of no confidence against him.

http://www.ipairaq.com/index.php?nam...itics&id=17618