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

An economist calls for the establishment Fund for Future Generations in the event of deportation of oil and gas law to parliament next

stressed economic expert to "accelerate the adoption of law establishing the Fund for Future Generations in the event of deportation law of oil and gas to the next parliament."

Dr. Nabil al-Saidi told the independent press (Iba) on Saturday: "The features of the current situation makes clear that Iraq is seeking to adopt a policy of free economy in the area, which requires opening up the strategic move out of the economy dependent on one supplier, to a productive economy and a renewed multi-resource. Noting a serious commitment to maximize the role of the private sector and turning it into an influential factor in the national economy."

"The front of the steps you need to future generations to strengthen their economic and benefit of all the components of the material proceeds to open the way for a serious contribution to the revitalization of the economy and invest billions of dollars in oil projects within a large part of this strategy."

Saidi, and Rai, "The initiation of the establishment of an investment fund for future generations, does not require a lot of time in particular that the current stage requires the use of past experience, so it's time to start to create a fund of future generations, he finds a lot of credibility."

He explained "that the fund would provide additional savings contribute to higher levels of investment, which has lead to an increase in the levels of double income and expenditure depends on the value of the investment spending multiplier."

It should be noted that the law establishing the Fund for Future Generations contents of oil and gas law, which calls for the Iraqi parliament approving official bodies.

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Maliki, in an exclusive interview with Alsumaria TV

Refuted Prime Minister Nuri al-Maliki, in an exclusive interview with Alsumaria most active issues on the table in the inside of the security situation, relations with neighboring countries, up to the forthcoming legislative elections. In the security file-Maliki said he considered after you install security in the provinces moved to activate the security effort of intelligence work:

Maliki called for the Iraqi people and politicians to protect the democratic process and not allow the return of the dictatorship of the next election:

Prime Minister also assured the tribute that the Baath Party was not interested in the process of national reconciliation:

Maliki's hope that the next Prime Minister involved all the political components in governance that is directly responsible for the work of the cabinet and not the political parties that had appointed them as it is now:
On the other hand, considered the Prime Minister that the services are still below the required level, but he praised the progress made at the return of foreign investment, stressing that security and stability encourages investment:

Maliki concluded by emphasizing the tribute that the constitution is needed to develop and review, especially in regard to the issue of quotas that fuel sectarian

For more details, view the video for this report to Farajallah Obaji.

http://www.alsumaria.tv/ar/Iraq-News...Alsumaria.html

Iran acknowledges oil well takeover on Iraq border

Iran on Saturday acknowledged its takeover of a disputed oil well in a border region with Iraq but insisted the well lies inside Iranian territory, trying to play down any diplomatic fallout.

"Our forces are on our own soil and, based on the known international borders, this well belongs to Iran," the Iranian armed forces command said in a statement, quoted by the Arabic-language Al-Alam S.atellitte T.elevision.

On Friday, Iraq's state-owned South Oil Co in the southeastern city of Amara said "an Iranian force arrived at the field ... It took control of Well 4 and raised the Iranian flag even though the well lies inside Iraqi territory."

Baghdad has demanded that "Tehran pull back the armed men who occupied well No 4" and condemned the incident as "a violation of Iraqi sovereignty."

But Iran's foreign ministry's spokesman Ramin Mehmanparast on Saturday accused "external sources" of working to damage relations between Tehran and Baghdad, the official IRNA news agency reported.

And a senior Iranian MP also tried to play down the dispute.

"The claim that Iran has occupied an Iraqi oil well is strongly rejected," Alaeddin Borujerdi, head of parliament's national security and foreign policy commission, told IRNA.

The issue was "being examined through diplomatic channels," he said, blaming "foreign media for such propaganda."

Well 4 is in the Fauqa Field, part of a cluster of oilfields which Iraq unsuccessfully put up for auction to oil majors in June. The field has estimated reserves of 1.55 million barrels.
On Friday, the National Iranian Oil Company denied that border guards had taken control of the well.

http://www.zawya.com/Story.cfm/sidAN...0Iraq%20Border

Oil prices climb on Iran-Iraq border tensions

Oil prices rose Friday, with markets on edge after news that Iranian forces had seized an Iraqi oil well in a disputed border region.

New York's main futures contract, light sweet crude for January, rose 71 cents to close at 73.36 dollars a barrel, paring earlier gains.

In London, Brent North Sea crude for February delivery settled 38 cents higher at 73.75 dollars a barrel.

Iranian forces took control of a southern Iraqi oil well on a disputed section of the border on Friday, US and Iraqi officials told AFP.

"The market spiked initially (after the report)," said VTB Capital analyst Andrey Kryuchenkov, adding that the news would "limit the downside."
Andy Lipow of Lipow Oil Associates said the market was jittery over the renewed border tensions.

The oil futures market is particularly sensitive to geopolitical tensions involving Iran, the second-largest oil producer in the OPEC cartel, after Saudi Arabia.

According to US intelligence, Iran's Revolutionary Guards, an elite, ideological force of the Islamic republic, controls naval operations in the oil-rich Gulf and Strait of Hormuz, where most of the region's oil transits.

The oil well seizure comes after the Iranian government on Wednesday test-fired a medium-range missile that it said could strike Israel.

Prices also rose Friday on signs of rising energy demand in the United States, the world's biggest consumer, dealers said.

Analysts said stronger American energy demand, boosted by the need for heating fuel during the northern hemisphere winter, is likely to continue supporting oil prices.

Meanwhile, the head of OPEC (Organization of Petroleum Exporting Countries) said the cartel most likely would hold its production quotas unchanged when it meets Tuesday in the Angolan capital Luanda.

Jose Botelho de Vasconcelos, the Angolan oil minster, said in an interview with Radio Ecclesia on Friday that it was highly likely that output would be held steady as prices stabilize in a range between 75 and 80 dollars.

http://www.zawya.com/Story.cfm/sidAN...der%20tensions

Skinner: We call on Iran to withdraw their troops and take down the flag of the Iranian oil field, jaw, because it is in Iraqi territory

The Iraqi government called on the Iranian side to withdraw military forces in control of the fourth well of the jaw, the oil field, which borders Maysan province, with Iran, and bring the Iranian flag which was raised by those forces on the field.

Dabbagh said in a televised statement with the Iraqi s.atellitte channel: A meeting important and urgent convening of the Political Council for National Security, stressed the need to withdraw the offender Iranian forces in control of the jaw of the Iraqi oil field hand, the government summoned the Iranian ambassador to Baghdad and told him condemnation and demand and Nntzlr formal Iranian response to it."

He said al-Dabbagh presence of those forces crosses the line and a violation of Iraqi sovereignty, stressing the seriousness of glossy Iraq in solving border issues with Iran diplomatically, and not to escalate with Iran, Iraq Ahtfad full territorial integrity and the right character and wealth.

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Rapporteur of the Commission on Oil: the Ministry had resorted to the recent licensing round is evidence of low production in these fields are as

The Rapporteur of the Commission's oil and gas in the House of Representatives Jaber Khalifa Jaber said the Ministry had resorted to the last round of licensing is clear evidence of the decline in production in these fields are large.

The contracts include a provision in the first licensing round, which included the fields of the province of Basra, deals with the decline in production fields of the province, is to achieve greater economic benefits to these companies at the expense of Iraq.

"Jaber said a deputy from the Islamic Virtue Party" The oil minister answers during the session questioned in Parliament last November about the size of oil production in Iraq, especially in the fields of Basra was "incorrect and far from reality, and that information to the Commission on oil and gas parliamentary confirm that this increase is a result start the export from Kirkuk and the oil mixed with black crude oil and reducing the share of Iraqi refineries ". He added that "the oil and gas got a report from the former oil ministers confirms the existence of a serious decline in the rate of oil production in Iraq," according to the Sumerian News,.

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Handal: Iraqi banks continue to provide development services

Said Chairman of Ashur International Bank that the modern banking services to come and inevitably private banks need to support the government and the deepening banking culture.

The Wadi Handal in an exclusive interview with the "morning" on the sidelines of the inauguration of a bank ATM card holders to facilitate the tasks MasterCard global trends that started in the banking sector on the right track and we really need to support the government and sectoral agencies of the Central Bank and the Finance Ministry to activate the banking sector in development. He added: still too weak banks contribute to development and does not constitute any acceptable figure, but he stressed the possibility of a bigger role in the event of legislation and laws in support of the private banking sector.

He attributed the reason for the delay of the banking sector to the private sector domination of the government banking on the banking task, including deposits and banking services to a small town is under the control of other public sector services and other bill of exchange. He pointed to the lack of banking awareness among the citizens to make it does not accept savings and deposit money in banks and this is what reflected in the performance of the sector.

And said: "The responsibility of creating a culture of banking is a collective responsibility between the State and the banking sector as well as various media. He pointed to the expansion of banking activities after the recent restoration of security, but believed that the banks took this direction in order to preserve the integrity of the banking risks perpetuating because still exists, and banks, these activities are performed in order to survive. Handal said that more than 8 private banks have been used the evolving global system Banker This is an important step in the development of the performance of banks. and expected it to start in 2010 expansion of networks of electronic banking services across the country to enhance the gravity of the banks and improving their performance. in Handal said something else, does not affect Dubai's crisis in Iraq, although their impact in the Arab and the Gulf, but finds that he can deal with the crisis the Government of Dubai and here is the initiative to solve them gradually.

http://www.alsabaah.com/paper.php?so...page&sid=95157

Annual inflation rate index down by 4.9%

Iraq’s annual inflation rate index dropped by 4.9 percent in November 2009, compared to the same month last year, the Central Agency for Statistics and Information Technology said on Saturday.

“The fall is attributed to a drop in the prices of foodstuffs; cloth, clothes and footwear; furniture; fuel and lighting; transport cost; and medical services and medicines by 0.6%, 4.3%, 5.7%, 40.8, 6.3% and 4% respectively,” according to a statement released by the agency and received by Aswat al-Iraq news agency.

Meanwhile, the statement reported an increase in the average price of the following consumer goods and services: cigarettes and beverages (3.4%), varied goods and services (7.2%), and rent fees (9.1%) during the same period.

The report, which is based on field data about the retail prices of goods and services in local markets in Baghdad and other Iraqi provinces, revealed a 0.4 percent increase in inflation rate index in November 2007, compared to the previous month.

Constituting the majority of household spending, the report indicated that the prices of foodstuffs; cloth, clothes and footwear; fuel and lighting; transport cost; and varied good and services were higher by 0.7%, 1.5%, 1.9%, 0.1%, and 0.1% respectively in November 2009, in comparison to October of the same year.

http://en.aswataliraq.info/?p=123793

Maliki calls for increased Arab presence in Iraq

Prime Minister Nuri al-Maliki said Iraq's relations have evolved a lot with all countries of the world and this does not mean there are no problems, but common problems can be overcome through dialogue and understanding.

He said al-Maliki during a meeting with Secretary General of the League of Arab States Amr Moussa at his residence in the Egyptian capital Cairo that Iraq complete the preparations for the election next year, and it will be crucial in shaping a new image reflecting the reality of the changes in the Iraqi arena.

Maliki called to increase the Arab presence in Iraq in all areas and to Aeptad Arabs of Iraq is a founding member of the Arab League and is an active role in regional and international environment, has exceeded the danger and came out of international isolation.

For his part, Moussa said Arab League's support for the political process and the democratic experiment in Iraq and the keenness of the Whole on the progress and success.

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Under Secretary of Commerce: Japan's economic conference of Iraq is a turning point in the process of economic openness

The Minister of Trade and purity of net debt agency that the Iraqi Japanese Economic Conference is a turning point in the process of economic openness and market Iraqi investment as well as a positive sign for Iraq possessed great opportunities for investment."

A source at the Ministry of Commerce of the reporter that "the net said in a press statement after attending the economic conference, the Japanese held the Iraqi on the ground at Baghdad International Airport under the auspices of Prime Minister Nuri al-Maliki, flew to Japan to invest in Arab countries, especially after the dialogue Arab-Japan held in Tokyo early December and the current investment in Iraq is the beginning of the Arab countries where the count on the Japanese presence in Iraq, they have the technical capabilities and information, administrative and see we were able to accelerate the development process in Iraq.

Adding that the Ministry of Commerce and its areas of investment opportunities in companies as a trading vehicle, machinery, and other service companies to the Ministry as well as our quest to build up an industry in Iraq Cars and machinery and equipment, adding that no negotiations on this matter with the Japanese side as we work to find a Japan based on mutual cooperation, as well as cooperation for the establishment of opposition within Iraq, which is important for investment and marketing Japanese products in Iraq, noting that trade plays a key role through Mlhakitha business in Japan for the purpose of bringing closer the viewpoints between Iraqi businessmen and Japanese businessmen.

The conference was attended by Prime Minister Nuri al-Maliki Rafie al-Issawi and Deputy Prime Minister and Ministers of Transport and Water Resources and other concerned ministries and the National Organization's investment of this conference as well as Iraqi businessmen and attended by the Japanese side, Undersecretary of the Senior Minister in the Ministry of Economy, Trade and Industry and Minister of State for Foreign Affairs and Vice-president of the Business Japanese and Japan is one hundred personalities of Japanese businessmen.


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