Thread: Archive News - Iraqi Dinar Think Tank - 28/03/10 - 21/06/10

The Committee to Protect Iraqi funds looking for contracts submitted by the United Nations

Special Committee discussed the development of mechanisms to ensure the protection of Iraqi funds held abroad after the end of the mandate of the Development Fund for Iraq money contract provided by the United Nations for a number of sectors, said in a statement to the Office of the Deputy Prime Minister Ruz Nuri Shaways: «that Shaways chaired a meeting was a study contract by the United Nations were resolved most of the contracts with oil, electricity, trade, agriculture, industry, education, reconstruction, housing, health, water resources, in addition to the municipalities and the Municipality of Baghdad ».

The statement quoted by the agency reported «Nina» news yesterday Shaways saying: «The Commission committed to review all contracts and to be carefully evaluated in all administrative and legal aspects and financial At the same time they realize the importance of time to accomplish those files , and it was determined to reach solutions to fundamental and serious as soon as possible ». The commission, whose members include the ministers of foreign affairs, finance, planning and oil, Justice and the Governor of Central Bank and the President of the Board of Supreme Audit Advisor to the Prime Minister of Legal Affairs.

http://translate.googleusercontent.c...W3nCkhDC-X1RVQ

The continuation of talks to unify positions and naming the new prime minister

Central to invite Iraqi President Jalal Talabani to form the next government, the political blocs are still continuing their discussions to unify the positions and naming the new prime minister.

http://www.radiodijla.com/cgi-bin/ne...?id=2010-05-20

Expert calls for prompt talks on Iraq OPEC quota

Despite official confirmation that Iraq won’t enter negotiations about a potential OPEC quota until production reaches 4 million barrels a day (bpd), an expert has warned that the issue should be dealt with promptly.

“Once Iraq hits four million barrels, this might create problems with other member states,” Luay Al Khateeb, E.xecutive director at the Iraq Energy Insitute (IEI), told attendees at a conference in Dubai on Tuesday.

“This concern needs to be discussed earlier.”

Iraq is the only country within the OPEC bloc that has no quota, although senior officials believe that output could reach as much as 12 million bpd – not far off that of Saudi Arabia. The twelve-nation cartel will at some point need to factor in rising Iraqi production by lowering output elsewhere, at significant cost to other member states.

Iraq currently produces a little under 2.5 million bpd, although earlier this month, Oil Minister Hussein Al Shahristani claimed that any talk of a limit before 4 million bpd was reached was premature.

But the maximum production rate in Iraq is still unclear, owing to different forecasts by senior officials.

Al Khateeb added, however, that the potential of the Iraqi oil sector remained massive, indicating that 94 percent of the country’s oil was currently being produced from only five fields.

Of a total of 85 known fields, only 25 have ever been used to produce oil, the expert claimed.

“But we have a knowledge vacuum and our best talent has been leaving Iraq over the past 40 years,” Al Khateeb said.

“We really need the private sector to play a role in the sector and lead by example.”

http://www.arabianbusiness.com/58851...raq-opec-quota

The arrival of the leaders of political blocs of the Peace Palace at the invitation of Talabani

Leaders of political blocs arrived Thursday to the Peace Palace in Baghdad at the invitation of President Jalal Talabani for the collection of political blocs in a luncheon with a view to bringing closer the views to quickly form a new government.

The Presidency Council issued a statement Tuesday declaring that "President Jalal Talabani on Thursday will bring together leaders of blocs and the winning group of members of these blocs and political forces to a lunch banquet at the Peace Palace in Baghdad."

He explained that "advocacy is a step to bring together leaders and members of the political forces aimed at finding an appropriate basis for dialogue and exchange views in an atmosphere of understanding and serious dialogue between the blocs to agree on the winner of a common vision and a mechanism suitable for the composition of the next government and nature.

But the leader of the Kurdistan Alliance Bari Zebari played down the optimism conveyed by the statement of the Presidency of the Republic, explaining that "the meeting was merely a courtesy meeting, which will take place any real talks on forming a government," he said.

Zebari has ruled that "the result in the meeting at the residence of President Jalal Talabani for any consequences that would bring the views or preliminary agreements to form the next government because this is the first meeting will be devoted to exchange of views."

http://www.radiodijla.com/cgi-bin/ne...?id=2010-05-20

Allawi left Baghdad for Jordan and Kuwait will not attend the summit Talabani said

The president of the Iraqi List, Iyad Allawi yesterday evening to the Jordanian capital Amman, at a time when Iraqis ponder the meeting called by President Jalal Talabani, leaders of political blocs over lunch on Thursday.

A source who declined to be named, said Allawi arrived in Jordan's capital Amman yesterday evening and due to travel to Kuwait for a visit unannounced in advance.
The Iraqi President Jalal Talabani has called on the heads of political blocs and some of its members to a luncheon today in an attempt to bring all sides in order to accelerate the formation of the new government.

http://www.radiodijla.com/cgi-bin/ne...?id=2010-05-20

Venturing into Iraq needs significant expertise

There are immense potential investment opportunities in Iraq. However, there are some legal and regulatory hurdles which require significant expertise and in-depth local market knowledge, experts said at the 'Doing Business in Iraq' conference held in Dubai yesterday.

Iraq's GDP grew by 4.30 per cent last year and the projected growth for 2010-2013 is 6.3 per cent. Further, Iraq's security conditions are improving and the war-torn infrastructure requires rebuilding on all levels.

Besides, Iraq also has the world's third largest known oil reserves and offers relatively cheap labour, low establishment costs, and numerous tax incentives, according to Al Tamimi & Company, one of the premier law firms in the Middle East and the organiser of the conference.

"Iraq is on the verge of becoming one of the success stories in the Middle East. The country's vast natural resources, coupled with a government focussed on reconstruction and recovery, have the potential to bring about significant improvements very quickly.

International businesses will play a key role in helping the country develop its infrastructure, rebuild its internal economy and stabilise its market and trading systems," Khaled Saqqaf, Head of Iraq office, Al Tamimi & Company, said.

Essam Al Tamimi, the Founder and Senior Partner of Al Tamimi & Company, said the UAE and the wider Middle Eastern economies have a critical role to play in helping its neighbours.

http://www.zawya.com/Story.cfm/sidZA...nt%20expertise

WFP launches first cash-for-work programme in Iraq

The World Food Programme (WFP) today launched a cash-for-work programme in Iraq to help some of the poorest sections of Iraqi society earn enough money to pay for food that might otherwise be beyond their reach.

"Food insecurity in Iraq is an access problem, not an availability problem," said WFP Country Director Edward Kallon. "While there's food in the shops, not everyone can afford it and nearly a million people still need food assistance and millions more depend on government aid."

The programme is being piloted in the central Iraqi governorate of Diyala to stimulate public works, provide employment and promote food security in some of the poorest districts in the country. The pilot will be closely monitored and assessed as a model for similar programmes across Iraq.

The cash-for-work activities include the clearing and rehabilitation of sewage and irrigation canals, tree planting, rehabilitation of farmland and a sanitation campaign. Participants will be paid the Iraqi dinar equivalent of US$10 per day for a three-month period, with supervisors paid the equivalent of US$13 per day.

Beneficiaries will initially be paid in cash on a weekly basis. However, WFP is exploring the possibilities of using electronic technology, such as smart cards, to facilitate payments and reduce security risks in future programmes.

"Cash-for-work projects are an innovative way to provide a much-needed influx of cash to poor communities who struggle to make ends meet and provide food for their families," said Kallon. "They are appropriate when food is readily available in the markets but out of their reach."

The pay rates have been set below the average daily wage of US$13-17 for labourers, so that it benefits only the most vulnerable members of the community who might not otherwise be able to find work. A total of 1,444 households will be targeted in the pilot.

Implementation of the programme will be carried out by Mercy Corps, a WFP cooperating partner with considerable experience in managing community infrastructure programmes.

The cash-for-work project is part of the "Diyala Initiative" to provide a series of integrated and coordinated interventions to facilitate the resettlement of internally displaced people (IDPs), returnees and other vulnerable groups. The effort is being led by the UN refugee agency, UNHCR, and the Office of the Prime Minister.

Other participants include the Food and Agriculture Organization (FAO), the International Organization for Migration (IOM), the United Nations Children's Fund (UNICEF), the World Bank, WFP and the World Health Organization (WHO).

Funding of US$618,000 for the cash-for-work project has been provided by the United States.

http://www.zawya.com/Story.cfm/sidZA...me%20in%20Iraq

No wall to isolate Baghdad from rest of Iraq, says mayor

The provincial authorities in Baghdad do not intend to erect a new wall to ring the capital because they see the project as unfeasible, Baghdad mayor says.

In a statement faxed to the newspaper, the mayor denied reports that the province would construct a “reinforced cement wall” around Baghdad.

Newspaper reports said designs for such a wall were ready and that the government was determined to have it built.

Walls of cement slabs separate several neighborhoods of Baghdad in a bid to quell sectarian violence.

But Baghdad’s Mayor Saber al-Aisawi only denied the news that the province would construct the wall.

He did deny reports that other government organs, like the Interior Ministry or the Defense Ministry might build it.

“The construction of a security wall or barrier belongs to security leaderships,” Aisawi said.

He said Baghdad Mayoralty was against the idea of walls and has withdrawn its team from government-sponsored discussions in this regard.

Aisawi said his mayoralty opposed the construction “because of technical and practical impediments.”

He added: “Constructing a wall surrounding Baghdad in this way is not an easy matter. Besides, the construction would cause legal problems as its course passes through private land as well as rivers and marshes.”

http://www.azzaman.com/english/index...05-22\kurd.htm

Hundreds of Turkish firms invest in Iraqi Kurdistan

Hundreds of Turkish firms have flocked to the semi-independent Kurdish enclave in northern Iraq, benefiting from a newly issued law easing curbs on foreign investments.

Latest figures by the Kurdistan Investment Commission show that more than half of the foreign firms in the enclave are Turkish.

In a statement, the commission said there were 620 Turkish firms out of the total 1200 foreign firms in the Kurdish region.

The region comprises the provinces of Arbil, Dahouk and Sulamaniya. The relatively large Turkish investment in the region signals better ties following a long period of mistrust between the Kurds and the Turks.

However, relations are likely to be affected if Ankara goes through with its plans to launch a large-scale military offensive to flush out Turkish Kurdish rebels who are using northern Iraq as a refuge and a springboard for attacks on Turkish security forces.

Ankara is also concerned about the fate of Turkmen, ethnic Iraqi Turks, many of them live in towns and villages which the Kurds would like to add to their autonomous enclave.

Iraqi Turkmen and Arabs both Shiites and Sunnis, living in these towns, say they would prefer administration by the central government in Baghdad to Kurdish dominance.

http://www.azzaman.com/english/index...05-24\kurd.htm

International fair in Basra

An international fair for food and agricultural products has opened on Monday at Basra’s International Airport.

“The fair will last for four days,” a local source told Aswat al-Iraq news agency.

He noted that 150 local and foreign firms are participating in the fair.

http://en.aswataliraq.info/?p=132149