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

Iraq seeks to recover 651 million euro from France

Iraq Cabinet decided to form a ministerial committee to be entitled of trying to recover a 651 million euro payment to France for a consignment of Mirage F1 fighter planes that were not delivered yet. The cabinet which convened on Tuesday agreed to add a representative of the Iraqi president to the committee formed to negotiate with the French party in regards of recovering the sum of money. Meanwhile, a source in the French Embassy in Baghdad who spoke under condition of unanimity uttered his concern in this regard.

http://www.alsumaria.tv/en/Economics...om-France.html

Al-Dabbagh: Negotiating with the French side on the recovery of 651 million euros for a Mirage

Said government spokesman Ali al-Dabbagh said the Cabinet decided to approve the addition of a representative from the presidency no less degree of functional Director General membership of the committee to negotiate with the French side on the recovery of the amount of $ (651) million euros on a military aircraft Mirage F1 the price paid in advance to the manufacturer has not delivered the aircraft to the Republic of Iraq so far.

Dabbagh said that the formation of this committee and other committees that are restoring Iraq's assets abroad comes within the Government's policy of maintaining public money and restore the rights of the Iraqi people in gaining abroad where the subject of Iraq in the recovery of funds abroad, inclusive of the money that was earmarked for arming and others in the era of system (degenerate) critical to the Iraqi people as human and this can not be compromised because it belongs to the people who suffered during that era as a result of policies and indifference only spending on armaments and prolong the survival of the regime on power.

The al-Dabbagh said the Cabinet earlier that the rates of its session the first regular session held on 5/1/2010 formation of the committee under the chairmanship of Advisor to the Prime Minister for Legal Affairs and the membership of representatives from the Ministries of Defense, State and Justice, in addition to the Secretariat of the Council of Ministers who are at least functional grade of the Director for the purpose of negotiate with the French side, in view of the importance of the subject matter and the fact that the money Iraq, and that falls to the federal E.xecutive branch (the President and Council of Ministers) and the purpose of claiming these amounts have been recovered and also add a representative of the Presidency of the Republic because it has a direct relationship to recover Iraq's assets abroad.

http://nahrain.com/news.php?readmore=120328

The Iraqi Economy is suffering from unilateral import

Junior Chamber of Commerce said the province of Najaf and that the financial advisor, in his Iraq depends primarily on oil imports, has adopted the budget on oil prices and the amount of average reduction in production after oil prices from what exists in the global market economy so as not to surprise the sudden decline of oil prices in addition to the adoption of tax and charges levied by the state.

The beloved Mr. Saadi said in an interview (For the Media Center of the communication) That the Iraqi economy is suffering from a single import and therefore the Iraqi market depends on what state issued financial flows, so we should find alternatives in order to generate profits for the country, including the laboratories and factories to diversify sources of income of the Iraqi state and that this diversity enriches the delay in approving the budget, which in its current state does not can advance the infrastructure of the country.

He pointed to the necessity of activating the role of the private industrial, agricultural and trade and investment in the country, The United Arab Emirates for example, depend on its budget on only 40% of oil imports, while the rest depends on the investments and the diversity of sectors.

Financial advisor stressed the need to be discussed and approved the budget during the month of December of each year to be ready for the new year, but in the case of delay of this deadline, we should find alternatives and foremost of which is taking money from the budget is spent on projects pending approval or taken it operating budget for salaries or other equivalent of the essential needs and approach of the previous year.

http://www.belagh.com/news.asp?id=4&sId=16646

Governor of Baghdad: I am still insisting on the removal of Baathists from all walks of the State in Baghdad

Criticized the governor of Baghdad, Salah Abdul Razzaq, his opponents on his legal and his recent statements on the dimensions of staff Baathists from all walks of State in the province of Baghdad. Abdul Razzaq: The powers of the governor of the implementation of the policy established by the federal government within the province and the application of federal laws, as well as the Federal Government's plans and the budget.

He noted that the other powers of the governor is to take legal and administrative procedures for public managers and staff working in the province in addition to the authority of the security services and police forces, and by the governor on the application of laws and proper implementation, including the Law on National Organization for Accountability and Justice No. 10 of 2008, all government departments under his authority and include all local public districts.

He said the decision to maintain the application of the accountability and justice to all spheres of Baghdad came under the powers and laws granted to the governor as head of a non-attached to the Ministry, as well as issued a circular of the General Secretariat of the Council of Ministers on 18/1/2010, which emphasizes accountability and the law of force must be applied with load Prime Minister or any non-related to the Ministry responsible for not implementing this law.

A: my statement that it was clear to isolate the Baathist covered by the law of accountability and justice, not the Baathists in general, as promoted by some parties and the media.

http://www.uragency.net/index.php?aa=news&id22=4837

CBI dollar sales up by 37% this week

The Central Bank of Iraq (CBI) dollar sales went up this week by 37 percent to reach $780.12 million compared to $569.082 million last week.

“The demand hit $56.13 million in cash this week compared to $29.53 million last week, covered at exchange rate of 1,183 Iraqi dinars per dollar, and $723.99 million in foreign transfers outside the country, compared to $539.552 million last week, 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 banks that participated in this week’s session offered to sell dollars.

http://en.aswataliraq.info/?p=126904

Iraq has officially accepted a member of the Transparency Initiative Extractive Industries

The Oil Ministry announced, on Thursday, Iraq's acceptance of a member of the Global Transparency Initiative, the consensus of the Board of Directors consisting of twenty members representing the five permanent members and its supporters and civil society organizations and international extractive companies.

The statement quoted the oil ministry had received agency Voices of Iraq (VOI) secretary-general of Transparency Initiative Extractive Industries in Iraq, Alaa Mohieddin as saying, "The International Secretariat of the Initiative in Oslo has issued an official statement confirming the admission of Iraq by members of the Board of Directors consisting of twenty members "who are the" permanent members and its supporters and civil society organizations and international extractive companies."

Muhyiddin said that Iraq "is one of the bigger ones among the members of the Initiative in terms of oil reserves owned by" as well as "daily production rates of oil to it by one of the first countries in the region and the countries of OPEC in terms of joining the initiative."

For his part, stressed spokesman Assem Jihad, Oil Ministry, according to the statement that the announcement "comes as a fruit of the tireless efforts made by the ministry to meet the requirements of accession of the official announcement about the Government's desire to work with civil society organizations as well as general secretary of the name of the initiative, "adding that this Initiative" means the commitment of governments and extractive companies transparently deploy the proceeds and payments relating to mining of natural resources from the earth and compliance and control in the presence of representatives of civil society."

He noted that the Ministry of Oil, "have contributed to the efforts of the representative of the Minister of Oil and the rest of the formations ministry to overcome the obstacles and the success of the launch of the initiative, which was held recently in Baghdad under the auspices of Prime Minister Nuri al-Maliki."

The total number of States members of the initiative of 32 countries and it is hoped to rise if the number of completed three other measures to join the initiative, which had been initiated two years ago.

The statement said that "Following the announcement of the admission of Iraq formally received by the Iraqi government and the oil ministry, an initiative of transparency in extractive industries in Iraq congratulations from thermoplastic some permanent members of international organizations in this initiative as well as some international organizations."

http://translate.googleusercontent.c...YwM_Dfpe3TLJyQ

Wael Abdul-Latif: Kuwaiti companies to invest in Iraq should be to Ataatdakhl the political issues

independent MP Wael Abdul Latif, an invitation that the issue of Kuwaiti companies to invest in Iraq should be to Ataatdakhl the political issues.

Abdel-Latif told the independent press (Iba) today, we encourage the investment of Kuwaiti companies, provided that the issue of Atsiis Alastosmaraly amounts prepared by the Kuwait of Iraqi debt, as the investment is established and the conditions and his own rules.

He added that Kuwait is an Arab country and a neighbor to Iraq, and is required to help the country through the waiver of debt and after the introduction of the various investment sectors. He stressed that the implementation of projects is not confined to any one country.

And Abdel-Latif said now that Iraq is going through Nizomp States needs to be integrated to the success of strategizing for investment. And cataloging government efforts and coordination with the bodies of international investment and provide the facilities required.

The parliamentary delegation headed by the President of the Finance Committee in the Iraqi parliament MP Alaa Al-Sadoun arrived in Kuwait in an effort to push the Kuwaiti companies to invest.

Saadoun said in a statement to the newspaper "Al-Qabas" Kuwaiti "There are questions to the Iraqi people about the reasons for not pursuing the same approach in Kuwait followed by foreign countries about the debt to Iraq, arguing that the improving economic situation in Iraq and improve economic ties with Kuwait and neighboring countries can reduce the severity terrorism in the country.

http://www.ipairaq.com/index.php?nam...onomy&id=21190

Iraq to adopt new oil benchmark from April
Iraq will switch the benchmark for pricing sales of crude to the United States to the Argus Sour Crude Index away from NYMEX U.S. light sweet crude futures, a senior Iraqi oil official said on Thursday.

The move follows a similar switch by top oil exporter Saudi Arabia and its fellow OPEC member Kuwait to the Argus index (ASCI).

"The pricing policy will take effect for sales to the U.S. from April," Falah Alamri, head of Iraq's State Oil Marketing Organisation (SOMO) told Reuters. "Switching to Argus was the best solution for us to ensure stable prices and also to satisfy our costumers."

The switch would avoid "variations and instability" in prices on the U.S. benchmark, he said.

The U.S. benchmark is for delivery of a different quality of crude to most of the oil exported from Middle East producers and is also for an inland delivery point.

Price trends for the U.S. crude had diverged from the import market of the U.S. Gulf. ASCI is a trade-weighted index of three high sulphur, or sour, crudes produced in U.S. offshore waters.

U.S. refiners had lobbied Iraq to switch to the ASCI, and Baghdad dispatched officials to the U.S. and Europe to talk to customers about making the switch.

Iraq exported around 460,000 barrels per day (bpd) of crude to the United States in the first 11 months of last year, according to U.S. government data, down from 627,000 bpd in 2008.

http://business.maktoob.com/20090000...il/Article.htm

New Coins on the CBI Site, this is good news something is happening!!!!!!
http://cbi.iq/index.php?pid=Banknotes

General Authority for Investment Advisor: amendments to the law will contribute to the consolidation of guarantees investors

Adviser said the Investment Authority, said "the most important amendments made to the investment law, including the subject of ownership of residential lands to foreigners and will contribute to the consolidation of investors and guarantees that they have the opportunity to engage in the investment sector to ensure diverse and money entering Iraq."

He said Abdullah al-Bandar told the independent press (Iba) on Saturday: "The steps are overseen by a body drawn towards the actual application that is appropriate and objective of the implementation and relevance to local realities, and I still enjoy the unique characteristics in terms of quantity and type of unrivaled in the world. Asserting that those amendments No. 13 of 2006 contributed to attract investors and surmounted many obstacles."

He Bandar said, "Iraq today has a unique investment opportunities not available in any country worldwide, which makes foreign investors in the constant search for these areas. Indicating that it is really encouraging and Iraq's economic reforms are moving towards economic growth."

He revealed, "there are many projects in the sectors of electric power, transportation, and airports from Arab and foreign companies and local communities. Pointing out that after the completion of legal proceedings will be given leave to these investment companies."

It should be noted that the Commission has held a number of conferences inside and outside Iraq in order to attract investors.

http://www.ipairaq.com/index.php?nam...onomy&id=21206