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

Parliament today returned budget law & its amendments to the Council of Ministers

MP Abdul-Hadi al-Hassani said the National Coalition for the financial budget for the year (2010) will be sent today to the Council of Ministers for the completion of the amendments prepared by the Finance Committee in Parliament.

Hassani said in a telephone conversation with That the Council re-budget law of the Council of Ministers with a view to accelerating the adoption of the financial budget.

He added that there are some amendments to rotate the money À House of Representatives adopted the proportion of recycled (50%) to (100%) of the amounts allocated to the provinces for development and to effect transfers from the budget to invest in ministries of development in the provinces.

He pointed out that the Council has adopted the principle of decentralization in (5), and service ministries such as health, education, housing, care and social and municipalities. Mbeyina after the amendments made by the Finance Committee expect to ratify the budget at the end of this month.

http://al-iraqnews.net/new/siaysiah/49968.html

Economic: No extension of gas within the investment plans came under pressure from neighboring countries, producing gas

Basra _ contrary visual
Established a College of Management and Economics at the University of Basra and in particular the Department of Economics seminar entitled (oil licensing rounds .. the benefits and costs) to discuss the pros and cons of licensing rounds for oil fields.

D. Jlalastaz Nabil at the Faculty of Administration and Economy said in its study that delivered during the workshop, "The Oil Ministry spent on the oil sector, an estimated ten billion dollars, but it could not increase production volumes," stressing that "there will be a big problem caused by this licensing rounds the interaction of powers between national and foreign companies is a logical and perhaps such problems could have been given licenses for unproductive wells only "

Jaafar said that "failure to extend the gas within the investment plans is because of pressure from the Gulf states developed in the production of natural gas, which it expects will be affected economically if Iraq invested in gas and liquid natural."

The Iraq is the second largest oil reserves in the world are expected after the oil contracts concluded with foreign companies within the first two rounds of licensing and the second to be produced Maigarb eight million barrels a day will lead to increased resources and the recovery of the economic situation in Iraq.

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Iraqi oil contracts will not bear fruit by 3 years

The long-awaited Iraq expects to generate proceeds of the new oil deals are abundant lift the country out of poverty in the wake of years of political instability and economic development.

And finally ended and the Ministry of Oil, a second round of awarding contracts to develop Iraqi oil fields rewarding. And resulted in ten rounds Officials expect deals to promote energy production from Iraq to twelve million barrels per day in six years, which is approaching the level of the country's largest energy exporter in the world.

The government, which relies on oil exports in more than 90% of their income that the transactions will create hundreds of thousands of jobs and earns an additional $ 200 billion dollars annually. But the persistence of violence with the withdrawal of U.S. troops from cities and government promises a more prosperous future of the ridiculous and anger among Iraqis.

Iraqis are facing difficulties with daily power cuts and the deterioration of health care and the inability of public service facilities to meet the needs of citizens.

The members of parliament to a state of great indignation among the people on what was described as foreign companies to control Iraq's oil.


Hayali: Iraqis will not touch the prosperity of the contracts before 3 years
Asked if the government had prepared an economic plan for the management of oil revenues and non-depleted in the projects that do not benefit the Iraqi citizen, Mr. Noureddine Hayali, a member of the Commission on oil and gas in the Iraqi parliament in a meeting with the markets. Net "These contracts will not come to fruition three years ago until it is increasing production to be properly and begin to enter revenue to the state treasury, and that the government should prepare plans and go about investing in infrastructure that need to be rescued quickly. The Government can not make plans now But after you get the stats of the service commissions and ministries concerned to improve the electricity, water and sanitation."

Hayali said that the suffering of Iraqi citizens are concentrated in the service sector which are Muslim and are easy to obtain in other countries, but in Iraq suffers two citizen because the level of services is below zero.

He Hayali said the Iraqi government is now focusing on open investment and attract foreign investors to invest in vital sectors such as industry, electricity, agriculture, health and housing.

Asked about the extent to which Iraqi citizens in the current revenue, said Hayali state budget dependent on oil revenues by 93 to 95% of the operational budget and the burden government, working on modernization of state institutions, ministries and providing the requirements of the ration card as a result years of living in Iraq of war and siege.


Round the importance of licensing and the need for contracts
The report of the Ministry of Planning of the "poverty line and the features of poverty in Iraq" in March 2009, stating that the individuals who are below the poverty line (percentage of individuals who can not secure their basic food and non-food), is equal to 23%. The unemployment According to statistics from the Ministry of Planning, the unemployment rate (18%) in 2008.

According to statistics from the International Monetary Fund and the outlook for the global economy in 2008, when compared to the size of the purchasing power parity GDP per capita, we find that Iraq is ranked 125 globally at a rate of $ 3,477, while international Qatar is ranked first globally at a rate of $ 86.008 international.


The project to establish an oil company the shares of each Iraqi
Dr. Ibrahim Bahr al-Ulum and former oil minister and member of the coalition, the Iraqi National Coalition adopted a plan to distribute part of oil revenues to Iraqi citizens individually, and through the establishment of a national company for oil, every Iraqi is where one share is not for sale, or inherited, and is transferred to the company only when the death of the individual. The plan is to distribute 10% of its profits to the citizens.

Dr. Bahr al-Ulum, in an article, published in The Wall Street that the current competition on Iraq's oil resources, is welcome, but Iraq must at the same time vowing to protect his legacy of enriching the people directly and help the Iraqis in the acquisition of technical skills, legal, financial, management process needs the oil industry.


Jihad: higher returns will improve the living conditions and service
Saw Asim Jihad spokesman of the Iraqi Oil Ministry in a meeting with the markets. Net investment sector is very important in oil revenues to provide financial rewards for the Iraqi treasury. "The foreign companies will invest $ 100 billion in rehabilitation and development of Iraqi fields to increase production. And they will invest money and expertise and technology and provide numerous employment opportunities for Iraqis, as provided for agreements to be 80% of Iraqi cadres, which would help to absorb unemployment and training Iraqi cadres and improve living. "

Abizaid and Jihad, saying that increased production will raise the volume of oil exports and thus increasing the income of the state treasury, which act primarily on the operational costs, improving infrastructure and service in Iraq. The Jihad that financial returns will rise to $ 250 billion with the increase in production to 12 million barrels per day after six years, which will reflect positively on the lives of the Iraqi citizen.

Asked about the distribution of oil stocks to the Iraqis, he replied, Assem Jihad, that it is too early to delve into such matters because they need the economic studies to determine how useful the return of the citizens.


Ithii Iraq to join the organization Transparency International in the extractive sector
During the meeting with the markets. Net Assem Jihad said that Iraq has begun meetings in January 10 this year with experts from the IMF and the World Bank and Transparency International to be the first Arab country to join the WHO standards in the extractive sector of the oil.

Transparency and includes both from Norway, Canada, and Australia. Upon approval of the Organization, will join the ranks of Iraq to countries that deal transparently with its oil.


Facts and Figures Iraq's oil revenues
According to data from the Iraqi Oil Ministry, the volume of oil export revenues in 2009 reached $ 41 billion, or less, including 34% of revenues in 2008 due to lower world oil prices. The turnover amounted to about $ 62 billion in 2008.

And managed to Iraq during the two rounds of bids in the past year, contracting with major international companies to develop oil fields, hoping to increase crude production to 12 million barrels per day during the next six years.

Iraq's economy depends mainly on crude oil, Iraq tops the world's third largest after Saudi Arabia and Iran in terms of proven oil reserves with 115 billion barrels.

Iraq currently produces 2,4 million barrels per day, only about 1,85 million barrels, especially from the fields near Basra.

http://www.alaswaq.net/articles/2010...31335.html#001

BAGHDAD / Aswat al-Iraq: The Central Bank of Iraq (CBI) has canceled its today’s session in light of the search measures that have been imposed in the capital Baghdad.

“The CBI has called off its foreign currency trading session on Tuesday because of the inability of its employees and the representatives of private banks to reach the bank,” a source from the bank told Aswat al-Iraq news agency.

The source noted that the market would resume its sessions tomorrow if search measures were reduced.

A spokesperson for the Baghdad Operations Command (BOC), Maj. Gen. Qassem Ata, said that strict security measures had been implemented in the capital Baghdad following intelligence reports about a planned suicide attack.

Some residents of the capital have spoken of a “foiled military coup by Sunni officers” and a curfew that included some areas of Baghdad.

The Central Bank of Iraq runs a daily auction from Sunday to Thursday.

http://en.aswataliraq.info/?p=125067

Dear Warka Clients,

Due to the temporary curfew our bank will be closed today and will re-open tomorrow offering its full services.

Best regards,
Warka Bank for Investment and Finance


http://www.warka-bank.com/inner.php?type=3&id=62

ISX Cancels Electronic Trading Session 12/01/10

Of the investors respected

Disclaimer:

Did not hold today's meeting Tuesday Approved 12 \ 1 \ 2010 in the Iraqi market for securities and for the security conditions of emergency.

With appreciation.

Public Relations
The Iraqi market for securities
12 \ 1 \ 2010

Advisor Central Bank (Iba): postponement of the dollar auction today will not affect the next auctions

An adviser to the Iraqi Central Bank auction buying and selling of the dollar today was postponed due to disruption of traffic in the streets and the difficulty of the attendance of staff, confirming the absence of any negative impact on future auctions.

The appearance of Dr. Mohammed Saleh told the independent press (Iba) that the exceptional circumstance that led to the temporary disruption in the capital today to prevent the establishment of an auction sale and purchase of Alolar, but the auction continues in the coming days.

He explained that the stop auction today will not affect the movement and auctions and various activities in the Central Bank of Iraq, arguing that auctions unmet requests, even if the situation repeated.

It should be noted that Baghdad has seen today under tight security led to the closure of streets, forcing government employees to return to their role.

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U.S. Army Major Charged with Smuggling Cash from Iraq and Making False Statements

U.S. Army Major Charles E. Sublett, 46, of Huntsville, Ala., was arrested today on charges of bulk cash smuggling and making false statements to a federal agency, announced Assistant Attorney General Lanny A. Breuer of the Criminal Division.

Major Sublett was charged in an indictment, returned by a federal grand jury in Memphis, Tenn., on Jan. 5, 2010, and unsealed today following his arrest in Huntsville. According to the indictment, Major Sublett smuggled more than $100,000 in currency, concealed in a shipping package, into the United States from Iraq in January 2005. Major Sublett also allegedly failed to declare that he imported the money.

As alleged in the indictment, from August 2004 through February 2005, Major Sublett was deployed to Balad Regional Contracting Center on Logistical Support Area (LSA) Anaconda in Iraq. LSA Anaconda is a U.S. military installation that was established in approximately 2003 to support U.S. military operations in Iraq. According to the indictment, Major Sublett served as a contracting officer while deployed to LSA Anaconda. As a contracting officer, Major Sublett was responsible for, among other things, evaluating and supervising contracts with companies that provide goods and services to the U.S. Army.

According to the indictment, on approximately Jan. 11, 2005, Major Sublett sent a package from Balad, Iraq, to Killeen, Texas, which was seized by Customs and Border Protection officers in Memphis. The international air waybill for the package said it contained books, papers, a jewelry box and clothes with a total declared customs value of $140 but did not disclose the currency allegedly also contained in the package.

According to the indictment, the package also contained $107,900 in U.S. currency and 17,120,000 in Iraqi dinar. Major Sublett allegedly failed to file a Currency or Monetary Instruments Transaction Report (CMIR) as required by federal law when transporting currency in amounts of more than $10,000 into or out of the United States.

The maximum penalty for each of the two charges contained in the indictment - bulk cash smuggling and false statements to a government agency - is five years in prison, and a $250,000 fine, to be followed by a term of up to three years of supervised release.

The indictment also contains a criminal forfeiture allegation. Specifically, if convicted of the bulk cash smuggling charge, Sublett would be ordered to forfeit the $107,900 and 17,120,000 Iraqi dinar he is alleged to have concealed in the package.

An indictment is merely an accusation, and the defendant is presumed innocent until and unless proven guilty at trial beyond a reasonable doubt.

This case is being prosecuted by Trial Attorneys Daniel A. Petalas and Justin V. Shur of the Criminal Division's Public Integrity Section. This case is being investigated by Army Criminal Investigation Command; Defense Criminal Investigative Service; the FBI; Internal Revenue Service - Criminal Investigation; the Special Inspector General for Iraq Reconstruction; and U.S. Immigration and Customs Enforcement.

SOURCE U.S. Department of Justice

http://www.prnewswire.com/news-relea...-81177377.html

Iraq to start oil shipping in March

Head of Iraq's State Oil Marketing Organization, Falah Alamri, said that the country plans to start crude oil shipping operations in March and prepares to export larger volumes of crude in the future, Reuters reported.

Iraq last year awarded contracts to foreign oil firms that would boost its output capacity to 12 million barrels per day (bpd) from 2.5m bpd in 2017. Pumping and exporting the anticipated rise in output presents huge logistical challenges for the Country, Alamri said.

He added that Iraq would revive the Iraqi Oil Tanker Company (IOTC). The Company would lease a Tanker and start crude deliveries in March or soon after. The IOTC, controlled by the Oil Ministry, was set up in 1972 and at one time had about 20 tankers.

Alamri also said that Iraq plans a joint venture company to handle the shipping, but declined to give further details on possible partners for IOTC.

Iraq recently offered a rare spot crude cargo of Basra oil on a delivered basis to Asian clients. It would be the first cargo to be delivered under the revived shipping operation, Alamri said.

http://www.menafn.com/qn_news_story_...yId=1093295160

Turmoil within the ranks of security leaks, as a result received from unknown destinations

An official at the Interior Ministry amid leaks that reached the security leaders in the ministries of defense, interior and national security and operations of Baghdad, called for the creation of a state of chaos among them.

The source said that the leaks came from multiple sources starting from the era on Monday, where the Defense Ministry received reports of attempted coup d'état under implementation, operations in Baghdad, received information about attempts to blow up several ministries and institutions important in the state on Tuesday morning.

This information has contributed to the creation of a state of confusion within the ranks of security, which imposed strict security measures in Baghdad led to the creation of traffic jams as a result of interruption of most main roads, especially in the heart of the capital and around the Green Zone, and helicopters were seen flying over the session and fitness Street Palestine and Sadr City.

A reporter for the center in Baghdad that a state of panic prevailed several districts of Baghdad as a result of leakage of rumors about an imminent explosions will occur in some areas. He also noted that detachments of control in the areas of Karrada and Mansour were acting in a way that is dominated by hair-trigger alert and rushing.

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