Thread: Archive News - Iraqi Dinar Think Tank - 01/10/09 - 27/03/10

Allocation of 100 thousand degrees and functional for 12 this year, the Ministry of

Government has allocated more than 100 thousand of the post for 12 of the Ministry during the current year within the general budget. This comes with the approach of the House of Representatives vote on the budget bill after making changes.

The budget includes a copy obtained by the "morning" for a table which is a special distribution of grades developed in the staffing of ministries and departments centrally funded, amounting to (114875) the degree and career, including more than 102 thousand degrees for 12 ministries, in addition to grades vacant or vacated for the purpose of the appointment of the new graduates of medical specialties, health, education and teaching, the police and military. According to the table included the distribution of grades was as follows: "358 of the Ministry of Foreign Affairs and 27,537 for interior and 47549 for the Defense and 14 thousand of the Ministry of Health and 10 thousand Educational and 1975 for education and the 270 financial and 80 of the Ministry of Labor and Social Affairs and 650 of the culture and 150 of the Ministry of Transport and 15 of the Environment and 70 of justice."

Also allocated in the budget year 9547 and the degree of functional region of Kurdistan and 6 for the presidency and 347 of the House of Representatives and 895 of the National Intelligence Service and 900 for the property disputes, and 316 of the Supreme Judicial Council, 180 local administrations in the provinces and 30 of the Investment Authority in the provinces. In the meantime, the President announced that the Finance Committee of the Board of Representatives Alaa al-Sadoun said the next few days will witness the vote on the public budget.

Sadoun said: "The draft budget guarantees the transfer of projects and ministries of education, health and Construction and Housing, municipalities and electricity to the responsibility to maintain on the project after that was supervised in the past these ministries," denying that "there is an increase or decrease in salaries, but there will be a re-arrangement to paragraphs such as family allowances, in addition to the hierarchy in grades based on academic achievement of the employee. "referred to the House of Representatives recently completed, read the draft general budget for the year 2010 amounting to more than 83 trillion dinars, of which 23 trillion dinars allocated for the expenses of the investment projects, and 60 trillion KD for operating expenses, by a financial deficit of more than 21 trillion dinars. For its part, a member of the Finance Committee in the House of Representatives Atrushi Sami parliament would not approve the amended version of the budget and its relevance, only after approval by the Council of Ministers. As part of a link, called on Minister Finance Baqir Jabr Al-Zubaidi to the need to invest the best of the budget year by 2010 for the advancement of projects that are implemented across the country.

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Talabani and al-Samarrai Itdarsan with Biden's call the political situation in the country

Iraqi President Jalal Talabani in a phone conversation with U.S. Vice President Joseph Biden, the bilateral relations between the two countries and the political situation in Iraq.

The presidential statement received a copy of the Tigris Radio on Monday that the two sides stressed the importance of the call through the bilateral relations between Iraq and the United States and the need to develop and expand so as to ensure the common interests of both friendly peoples.

By another trans-Biden expressed his hope that President Talabani intensify its efforts in Baghdad these days in order to ease the situation and address the problems experienced by the Iraqi arena.

Meanwhile, also received the President of the House of Representatives Iyad Samarrai, a telephone call from U.S. Vice President Joseph Biden, and discussed the overall political situation in the country and the atmosphere that precedes the coming legislative elections.

http://www.radiodijla.com/cgi-bin/ne...?id=2010-01-18

Minister of Finance Receives World Bank Vice President

Received the Minister of Finance Baqir al-Zubaidi, World Bank Vice President Shamshad selection and her entourage, which included World Bank Country Director for the Middle East Hadi Arab And Director of the World Bank in Iraq, John Wehbe In the presence of Advisor Finance Minister Aziz Jaafar.

A media source in the ministry for the that he also discussed economic and financial relations between Iraq and the World Bank and ways to enhance them to achieve advancement of financial and economic institutions of Iraq and benefit from the experience bank's staff to set up specialized courses for staff and access to financial support for the advancement of projects in support of the mission in Iraq.

The minister stressed that the return of Iraq to cooperate with international financial institutions have made economic gains in Iraq allowed him to restore cooperation with Iraq and the international integration of financial institutions in the international community and contribute in extinguishing the debt under the terms of the Paris Club and the achievement of important achievements in terms of improving the financial and banking work in Iraq.

For its part, praised Shamshad improvements in the Ministry of Finance and the considerable efforts made to achieve balance in 2010 and successful economic policy of the Ministry of Finance, which Iraq spared the negative effects of the global financial crisis and the desire of the President of the World Bank to support Iraq in all fields, especially "in the field of training, rehabilitation and support strategic projects in it.

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Finance Committee: vote on the budget within a few days
Denied voting for a resolution to withdraw part of the cash reserves of the Central Bank

President announced the Finance Committee in the House of Representatives Ala-Sadoun said the next few days will see a vote on the budget for 2010. Saadoun, said: "The budget included a transfer projects and visited the education, health, construction and housing, municipalities and electricity

The responsibility of the province concerned in the project after that was supervised in the past these ministries. "And denied that" there is an increase or decrease in salaries, but there will be a realignment of paragraphs, such as family allowances, in addition to the hierarchy in grades based on academic achievement of staff " are set out in a press statement that grades for this year included the allocation of 115 thousand degrees and functional, as will the lion's share of the security ministries, while the share of the Ministry of Education, 10 thousand degrees, and Higher Education 2000 o and 4000 the degree of health, noting that the highest priority in recruitment within ministries would be to staff the owners of temporary contracts. For his part, said a member of the Finance Committee in the House Sami Atrushi: that the council would not approve the amended version of the budget and its relevance only after approval by the Council of Ministers, adding that the version received from the Ministry of Finance is for information only.

He Atrushi in a statement quoted by news agency Nina, expressed hope that the budget be approved soon, noting that the "balance of the adjustments amounted to more than four hundred and eighty Trliuna billion dinars, raising the amount of the budget deficit to more than 22,9 trillion dinars will be covered by Turned the previous year and increasing oil prices, and that if those amounts did not cover the government will have to borrow internally and externally.

He added by saying: "We have received a copy of the Finance Committee of the State budget for 2010 after some customizations have been modified by the Ministry of Finance, each passing the budgets of the parliament and the Supreme Judicial Council, and the other suggestions from the Ministry of Finance expenditure has increased oil exports as well as increased functionality of the Ministries of Oil and financial, in addition to $ 263 billion dinars had previously deducted from the share of the Kurdistan region of the supplementary budget of 2008, and the amount of 250 billion dinars for investment expenditures of the Bretton martyrs and political prisoners already approved in the Council of Ministers

In turn, denied a member of the Finance Committee Vice Sirwan Zahawi vote for a resolution to withdraw part of the cash reserves of the Central Bank of Iraq to fill deficits in the budget of public finances. Zahawi said in a statement carried by news agency Iba, "The foreign exchange owned by the CBI is a reserve to support monetary policy and to give strength to the local currency, and any move to Parliament to pressure the Bank to release part of its reserves to bridge the budget deficit was inconceivable and unacceptable, he that the CBI has achieved clear success over the past years and could raise up to € (80) billion dollars, a result of the strategy contributed to the devaluation of the dollar against the dinar by half compared to 2003. Zahawi pointed out that the proper utilization of loans provided by a number of countries, in addition International Monetary Fund is the most important means that can be made by the government to cover the deficit, stressing the implementation of the tariff law in an economical way to ensure greater financial returns.

Referred to the House of Representatives recently completed, read the draft general budget for the year 2010 amounting to more than 83 trillion dinars, of which 23 trillion dinars allocated for the expenses of the investment projects, and 60 trillion dinars for operating expenses, by a financial deficit of more than 21 trillion dinars.

http://www.alsabaah.com/paper.php?so...page&sid=96605

CBI discusses mechanism to improve investment environment in Basra

The investment commission in Basra has received a delegation comprised of representatives of the Commercial Bank of Iraq (CBI) to discuss a mechanism to improve the investment environment in the province, the commission’s deputy chairman said on Monday.

“The talks tackled several issues, most prominently the loans given to investors and the construction of housing units,” Jalal Tema al-Nouri told Aswat al-Iraq news agency.

The bank has expressed its readiness to provide loans to investors in the province and to activate the smart card system, Nouri added.

http://en.aswataliraq.info/?p=125427

EU, Iraq sign energy partnership agreement

The European Union and Iraq have signed an agreement to strengthen their energy cooperation in areas such as natural gas, energy security and renewable, the European Commission said Monday.

The agreement "provides a political framework for reinforcing energy relations between Iraq and the EU," the commission said in a statement.

Iraq is considered an important potential source of natural gas for the EU, which is seeking to diversify its energy supply sources, mainly away from Russia, putting a strong emphasis on gas from the Caspian, Central Asia and the Middle East.

http://pukmedia.com/english/index.ph...15668&Itemid=1

Exxon Consortium OKs Iraq contract changes - Official

A consortium led by Exxon Mobil Corp. and Royal Dutch Shell Monday accepted amendments made by the Iraqi government to a service contract to develop the West Qurna Phase 1 oil field in southern Iraq, a senior Iraqi Oil Ministry official said.

"They have accepted the changes, and we are finalizing the deal with them on Jan. 25," Abdul Mahdy al-Ameedi, head of the Oil Ministry's Petroleum Contracts and Licensing Directorate, told Dow Jones Newswires.

ExxonMobil, the first U.S. company to gain access to Iraq's oil reserves, and Shell won the right to develop the oil field, which holds proven oil reserves of 8.7 billion barrels, following the country's historic first post-war oil-bidding round held in June 2009.

The ExxonMobil/Shell group signed the deal in November but was awaiting final approval from the Baghdad government, after the cabinet made amendments to the agreement.

The government has proposed amendments to the text of all the contracts recently awarded to foreign oil companies, though Iraqi oil officials didn't want to speak about these amendments.

However, a company official said one of these amendments gives the government the right to change the output level from these fields in order to comply with future quotas that the Organization of Petroleum Exporting Countries would impose on Iraq.

Also all companies need to insure all related people, works and equipment, the company official said, adding that Iraq will impose taxes on imported materials and equipment used to develop these fields, although he didn't say how bug these taxes would be.

http://pukmedia.com/english/index.ph...15673&Itemid=1

Advisor for the Investment Authority (Iba): project to build 500 thousand housing units financed by the ****uting companies and one Iraqi banks

adviser said that the National Investment Commission of the investment project of building 500 thousand housing units in the whole of Iraq funding will be shared between the e.xecuting companies and a bank of Iraq.

He said Dr Abdullah al-Bandar told the independent press (Iba) said Tuesday that the project is of huge projects that will occur promising a quantum leap in reality housing and the crisis gradually, particularly as it is the most prominent economic problems.

He said that the body will begin to accept offers companies that want to set up the project, which will share the funding with the Bank of Commerce.

He noted Bandar to the existence of mechanisms for the sale and division of units according to plan cost-effective choices. He pointed to determine the detailed mechanisms on how to make premiums by state officials to divert these units in the future for those who wish to benefit from the project.

He said Bandar, a number of investment projects and events for the current year and distributed to various sectors and with privacy. Adding that to amend the Iraqi investment law serves many positive aspects of the movement of investment in Iraq.

http://www.ipairaq.com/index.php?nam...onomy&id=20097

CBI sells $179m on Tuesday

The Central Bank of Iraq’s (CBI) dollar sales reached $179.659 million in its daily auction on Tuesday, compared to $88.950 million during the previous session.

“The demand hit $13.470 million in cash, covered at an exchange rate of 1,170 Iraqi dinars per dollar, and $166.189 million 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.

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Annual inflation rate drops by 4.4% in 2009

Iraq’s annual inflation rate index fell by 4.4 percent from December 2008-December 2009, the Central Agency for Statistics and Information Technology said on Tuesday.

“The fall is attributed to a drop in the prices of cloth, clothes and footwear; furniture; fuel and lighting; transport cost; and medical services and medicines by 4.6%, 3.2%, 41.0%, 6.6, and 3.7% 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: foodstuffs (2.6%), cigarettes and beverages (6.0%), varied goods and services (6.6%), and rent fees (9.3%) 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 1.3 percent increase in inflation rate index in December 2009, compared to the previous month.

http://en.aswataliraq.info/?p=125461