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

Under the Oil Ministry in Damascus looking to transfer Iraqi oil and gas to Syria

Research and Undersecretary of the Ministry of Oil Abdul Karim Allaibi in Damascus on Monday, with the Minister of Oil and oil wealth Syrian Sufian Alao ways to enhance cooperation between Syria and Iraq in the transfer of crude oil and natural gas from Iraq to Syria and across to other countries and set up for the transfer of Iraqi natural gas to be processed in Syria, according to The official Syrian news agency (SANA).

The IAEA said in a news item that Sufian al-Alao, Minister of Oil and Mineral Research (Monday) with Abdel-Kareem high Allaibi Deputy oil minister and his accompanying delegation ways of enhancing cooperation between Syria and Iraq in the transfer of crude oil and natural gas from Iraq to Syria and across to other States.

The two sides discussed the possibility of transfer of Iraqi crude oil to Syria through the current line connecting the Kirkuk-Banias and the establishment of new lines for the transfer of other amounts of crude oil to Syria and exported through the port of Banias.
The two also discussed, in accordance with the Agency's areas of cooperation to create lines for the transfer of Iraqi natural gas to be processed in Syria or exported to the outside in addition to discuss cooperation for the completion and rehabilitation of Akkas Iraqi gas near the Iraqi-Syrian border and the possibility of transfer of Iraqi oil and gas to Syria and the establishment of new lines between the two countries.

http://radionawa.com/Ar/NewsDetailN....112&LinkID=155

Najaf council: "FPS and police chief are responsible for Mishkhab robbery"

"Facilities Protection Service (FPS) are completely responsible for the robbery of Rafidain bank- Mishkhab branch because the adequate precautionary measures were not taken," Najaf provincial council announced on Monday.

"Najaf council called yesterday the police director and the commander of the Facilities Protection Service (FPS) in the province and heard the explanationa about the circumstances of the bank robbery in Mishkhab last Thursday's night," Jabbar al-karaawi from Najaf council said.

"The council reached several recommendations, the most important is approaching the health department to conduct a thorough examination of the detainees who were behind the incident, and whether they used anesthetic materials or not? FPS is completely responsibile for the incident because adequate precautionary measures were not taken to check the identities of the individuals and take corrupt elements out after informing the Interior Ministry and appointing fair elements to protest the banks," he added.

"The council believes that the police chief in Mishkhab district is responsible for the robbery and the formation of an investigative committee from Internal affairs and Inspectorate affairs to investigate within seven days. The recommendation also included approaching the Finance Ministry to renew the protection of banks and the formation of protection directorate of their own," he stresed.

The security committee in Najaf province council announced last Friday morning that Rafidain Bank -Mishkhab brach south of the province was robbed by an armed group after midnight of last Thursday who took more than six billion (b) dinars of it before the security services returned mone million and a half of the amounts stolen after arresting some of the thieves.

The security source has stated earlier on Friday that the information available to the security services indicate that one of the guards of the bank drugged his colleagues by putting hypnotic material in the tea and then coopertaed with the armed group which stormed the bank, broke its closet and stole the mentioned amount.

The robbery incident of the bank in Najaf is the first of its kind in the province since several years ago after the retreat of the militia elements and the proliferation of security agencies, military and police in extensively in all areas.

http://www.aknews.com/en/aknews/2/150796/

Etihad launches flights to northern Iraq

Etihad Airways said on Tuesday it has started non-stop flights from Abu Dhabi to Erbil, becoming the first UAE carrier to operate to northern Iraq.

Etihad operates two return services per week and the Erbil service follows the launch of the airline's flights to Baghdad in April, which quickly grew from three services per week to a daily service.

James Hogan, Etihad Airways' CEO, said: “Etihad is delighted to be the first UAE carrier to operate both Baghdad and Erbil. The response to our services to Iraq has been overwhelmingly positive and we are expecting a high volume of traffic on this new route.”

He added: “Iraq is a key market for Etihad and will be an important focus for the airline in 2010. We believe the new route will attract leisure travellers from Iraq who are looking for short breaks within the Gulf region, as well as business customers, friends and relatives travelling between the UAE and Erbil.”

Etihad has recently launched cargo operations to Erbil.


http://www.arabianbusiness.com/58954...-northern-iraq

Asiacell widens its coverage to include remote regions in western and southern Iraq

Asiacell – The largest private Iraqi company and the first and only mobile telecommunications company to provide coverage for all of Iraq – announced that it is progressing further in implementing its expansion plan for the year 2010, which aims at widening its coverage to include all of Iraq in general, and its western and southern regions in particular, thus catering to all main cities in addition to ones that are sparsely populated. Accordingly, Asiacell expanded its coverage to include the governorate of Anbar which comprises of the cities of Rawah, Ubaidi, Karbalah, Husaibah, and Haditha.

Asiacell’s expansion measures will allow it to provide high quality coverage to these regions, enabling the Iraqi people to communicate with each other regardless of their location within the country, even if they reside in remote areas.

Commenting on this expansion, Mr. Faruk Mustafa Rasool, Asiacell’s Chairman, said: “Making sustainable investments in our infrastructure is one of our main priorities due to its significant contribution to the development of the Iraqi telecom sector and in raising the sector’s competitiveness in terms of quality and standards. We are determined to provide our fellow Iraqis with the best telecom services, and we will never be daunted by the various challenges and difficulties that we face on the economic and security fronts. We consider these challenges as drivers that motivate us to strive harder to attain further success in order to preserve the trust we have gained from every Asiacell subscriber.”

Mr. Rasool added: “We pride ourselves on being the first company to provide coverage for all of Iraqi, and we pledge to continue to follow the same ambitious methodology in delivering on our promises to our subscribers through providing them with the best telecom services wherever they are.”

http://www.arabianbusiness.com/press...s/detail/41509

The government denies any change on the local currency

Iraqi government denied the outgoing Sunday rumors, which was launched on Saturday through a number of media for determination cancellation of three zeros from the currency, domestic financial during the coming period in order to reduce inflation, while the expert described the Iraqi economic economic situation in the country (non-balanced) because it has caused a big gap between the Iraqis.

Counsel stated in the Iraqi government told Ahmed reputation beyond Kurdistan News (Akaniwz) "Raising the zeros of the Iraqi currency can not be local at the present time due to instability of the Iraqi market and influenced by political and security variables that occur in the country."

"It was a government plan to lift earlier in three zeros from the local currency is that it's after the holidays, we found that this will disrupt the economic situation in Iraq."

He noted that "such measures need to stable political situation and this matter is not available at the present time because of continuing disagreements between the political blocs of winning the election on the formation of next government."

He explained, "We are rational justifications for deferral to change the Iraqi currency at this time was most important that this issue will contribute to the dimensions of the investment companies from investing in the country"

He stressed on the reputation beyond Dharrop that "the government does change their role in the local currency and coins, in addition to saying" lies on the next government and head of an important role in addressing the financial Altdkk seen by the Iraqi financial market by making some changes on the local currency. "

The rumors have recently confirmed that the Iraqi government plans to raise three zeroes from the local currency and the addition of the Kurdish language by the aim of reducing inflation suffered by the Iraqi market

The local currency changed to mirror several, most recently in 2004 when the former Governing Council opted instead for Alamlpalsabakp which was a symbol of the former regime.

For his part, Iraqi economic expert described the economic situation in the country (non-balanced) because it has caused a big gap between the Iraqis, especially in the mechanism of the distribution of salaries and privileges of appointment of government.

Ali Ke Ji (l Akaniwz) announced today that "the economic situation in Iraq is very bad as experiencing many tensions which will make it flutter lasting impact, creating a big gap in society and the middle class from Gate"

"The strange economic reality that the Iraqi people with low incomes are suffering from many economic problems, notably the failure to regulate their monthly income as would other countries"

And that "the most complex problem facing the next Iraqi government is to review in earnest in the mechanism followed the distribution of salaries of staff and it seems that the task is not easy being established for the past years"

He Ke Ji, "The distribution system is not fair at all salaries in the country, subject to the privileges measured between staff and creates a significant economic differences"

The economy of Iraq's many tensions due to political influences and the country's security.

http://www.aknews.com/ar/aknews/2/150362/

Iraq seeks shipping oil and gas to international markets via Syria

Iraq is seeking to use Syria as a transit for the shipment of its crude and gas to international markets.

Syria was initially Iraq’s only gate to markets in Europe and beyond through a pipeline that linked the major oil center of Kirkuk to a Syrian terminal on the Mediterranean.

But the pipeline has been idle for decades and it is not clear whether it is fit for the shipment of crude any more.

A senior Iraqi Oil Ministry official is in Syria for talks on the possibility of resuming oil exports via the pipeline and the construction of new lines to ferry Iraqi oil and gas via Syria.

“The sides discussed the possibility of ferrying Iraqi crude to Syria through the present pipeline and exporting it via Baniyas terminal,” according to a statement by the official Syrian news agency, SANA.

The agency said Iraqi Oil Ministry Undersecretary Abdulkarim al-Aibi held talks with the Syrian Oil and Mineral Resources Minister Sufian Allaw in which the two officials reviewed cooperation in oil and gas fields.

“The two officials discussed cooperation to complete and rehabilitate the Akazi gas field, which is situated close the Syrian border and the possibility of transporting Iraqi gas to Syria for treatment before shipment to international markets,” SANA said.

http://www.azzaman.com/english/index...06-02\kurd.htm

CBI sells $82 million on Thursday

The Central Bank of Iraq (CBI) dollar sales went down to reach $82.740 million in its daily auction Thursday, compared to $110.862 million in the previous session.

“The demand hit $2.650 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $80.090 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 12 banks that participated in today’s session offered to sell dollars.

http://en.aswataliraq.info/?p=132644

Economic expert: the privatization of the public sector with the absence of the House of Representatives streaked corruption

The expert economic peace Sumaisem that the privatization of the public sector will lead to positive results on the Iraqi economy, but at the same time may be compromised by the privatization of administrative corruption and violations of the absence of the House of Representatives and the absence of legal controls specify the subject.

The Sumaisem in contact with the agency, the independent press (Iba) We look forward to the next parliament to proceed with a package of laws to ensure the interests of investors to be an attraction that contributes to boosting the Iraqi economy.

She pointed out that the institutions of the public sector when a weight and a disabled state and an impediment to the development of the economy there is no problem of privatization because in this case will come Intaij positive drives the economy forward, stressing the need for having controls set this position to develop those institutions themselves without relying on the state.

The Sumaisem the absence of transparency in the privatization of public enterprises may lead to the existence of administrative and financial corruption, especially in the absence of legal controls, indicating that privatization in the current economic situation will be positive and will develop productive enterprises in the country ..

http://www.ipairaq.com/index.php?nam...onomy&id=26084

Iraq forecasts $70-$80 oil price

Iraq has said it expects international oil prices to fluctuate between $70 and $80 per barrel, Reuters has reported. "The price is not decreasing very much. Our expectation is that the oil price will not decrease to less than $65 to $70," deputy oil minister, Abdul Kareem Luaibi told reporters at a conference in Baghdad. "According to our expectation, the price will fluctuate between $70 and $80," he said. "Although we consider it unfair, it is acceptable at the current time."

http://www.ameinfo.com/234305.html

Kuwait, Iraq likely to reach deal on border wells - KOC Chairman

Chairman and Managing Director of Kuwait Oil Company Sami Al-Rushaid expected Tuesday that Kuwait and Iraq would reach an agreement on the exploitation of the oil wells on their border areas soon.

Speaking to reporters after the giving ceremony of the Chairman's Award for Health, Safety and Environment, Al-Rushaid said the two countries set up a joint panel to probe the border issue with KOC leading the Kuwaiti side.

He downplayed the concerns about the impact of Iraq's exploitation of its southern oil wells on Kuwait's interests, saying that Kuwait's two northern wells of Al-Retqa and Al-Abdaly account for small percentage of the country's oil production.

"The contract, signed by KOC and Shell on the development of Jurassic oil gas wells in northern Kuwait, has been brought into force recently," he said, noting that experts from both sides are supervising the project.

"KOC is implementing a long-term development strategy running through 2020. The strategy entails a five-year plan and annual plans envisaging the development of key projects in the gas industry, pipelines projects and a new hospital," Al-Rushaid pointed out.

Regarding the environment projects, KOC has recently signed an agreement with Kuwait's Environment Public Authority (EPA) on combating air pollution and gas emissions, he went on to say.

"In 2009 the company managed to cut down the burning of the oil-associated gas to 2.6 percent, well below the target of 3.4 percent. We hope to bring the percentage to less than one percent in the coming two years," Al-Rushaid revealed.

In Burgan oil well, south Kuwait, KOC was able to reduce the figure to just one percent since the well is close to residential areas, he added.

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