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

Investment Authority: the banking sector to make way for capital

Confirmed that the National Investment Commission that the banking sector the most important sectors that were to make way for capital to invest in them.

The adviser said Abdullah al-Bandar (the Agency's news news) that the body continues to grant licenses and licenses for the establishment of the banks policy to encourage domestic investment and Arab and foreign investment opportunities and provide appropriate safeguards.

He added that opportunities designed to develop the work of the banking system. And rehabilitation of the specialized banks while encouraging private and state banks to participate in various investment and the establishment of quotas in some important development projects.

Bandar pointed out that the laws encourage investment confirms the State's policy orientation towards the promotion of private and common by the public sector to play an increasing role in the development process in various forms.

The economists called to give priority in support of the local banking sector.

http://radionawa.com/Ar/NewsDetailN....016&LinkID=155

Authorize the financial negotiations with Arab companies to abandon some benefits

Said government spokesman Ali al-Dabbagh, on Thursday, said the Cabinet decided to approve the authorization of the Ministry of Finance has the power to negotiate with the unions and organizations and Arab companies on the waiver of part of the interest owed to them for the deposits frozen assets in the Rafidain Bank in exchange for the remaining part, but not less than the benefits ceded 50% of purchases totaling due.

Dabbagh said in a statement that "approval to authorize the Ministry of Finance, this kind of authority comes as part of the government's keenness on the performance of financial systems and banking and conducted through the legal mechanisms to take into account the rights of the bank's customers and maintain the government money and reputation of the Bank of Ancient is Rafidain, ..., as a bank of government and operates according to mechanisms and informal contexts, and that this move was complementary to the previous step is the launch of the assets of these deposits."

He explained that "the Ministry of Finance has set a target to them through negotiations with the actors mentioned to avoid booking the property of the Bank of Iraq outside of Iraq and the fact that those benefits are really for companies and associations and organizations in Arab aggregated under which a court ruling to the full amount of interest, where the ministry said that the issue of foreign currency deposits belonging to the organizations, unions and Arab companies have already been frozen during the period of economic embargo on Iraq was launched out of such deposits without benefits."

Dabbagh said that "the Ministry of Finance made it clear to the Secretariat for the Council of Ministers that had been negotiated with the organizations and associations and Arab companies on the waiver of those benefits in return for a part taking into account the economic conditions and by up to 10% - 30% of the amount of interest, but the bodies referred it refused to do so and set up claims against the Bank of Iraq."

He pointed out that "has been winning a number of such cases in their favor, in order to avoid the seizure of property Rafidain outside Iraq as well as attorney's fees that may be borne by those banks to argue the proceedings against them have been raising the proportion of negotiation to 50% maximum."

He pointed out that there was a "response by relevant parties, so I asked the Ministry of Finance have approved the continuation of negotiations to settle the issue and to allow those companies, organizations and unions to continue its work."

http://radionawa.com/Ar/NewsDetailN....027&LinkID=155

Maliki is expected an agreement on the three presidencies before the end of the month .. And Iraqi Talabani supports the nomination for re-election

Set titles and positions and statements overshadowed yesterday on the political scene and set up events of significance are expected to be in a circle to form a government reaction in coming days. The first event is an escalation meetings of political leaders, reaching more than 14 games over the last 24 hours.

The second event announcement Nuri al-Maliki, the prime ministers and a coalition of law the possibility of reaching an agreement on the three presidencies before the end of this month, represents the third event in support of the existing Iraqi President Jalal Talabani's candidacy for re-election. Among these events was stuck Kurds application of Article 140 of the Constitution as the basis for alliances to come. He predicted that the Prime Minister during his meeting with Assistant Foreign Secretary for the Middle East and North Africa, Christian Turner yesterday, will be agreed upon three presidencies during the current month. A statement by the Prime Minister's Office stated that Maliki said during the meeting: "The dialogue between the political blocs are conducted in accordance contexts constitutional has reached an advanced stage, despite their difficulties and can be reached this month to agree on the three presidencies," noting that the talks aimed at forming a government of national partnership involving all Bmaysad components in support of stability and accelerate the process of building and reconstruction. recognizes Maliki Turner During the meeting, Prime Minister's letter David Cameron, which included confirmation of the British government and its desire to develop relations between the two countries and looked forward to advancing the political process and strengthening the democratic experiment in Iraq.

In the meantime, said a member of the negotiating committee in the Iraqi List, Muhammad Allawi that his list will support the candidate of the Kurdistan Alliance for the post of President of the Republic and that there was a meeting will take place soon between the negotiating committee with the Iraqi delegation of the coalition forces of Kurdistan. But the Deputy Prime Minister Ruz Nuri Shawis member of the delegation of Kurdistan negotiator , he stressed that "dialogue open with everyone, especially those who subscribe to the terms of the Constitution and Article 140 and other articles of the Constitution, which guarantees the rights of all Iraqis according to the constitution." center of the photo, according to Deputy Emir Kanani member of the National Alliance for the block are free: "The National Coalition (a coalition the rule of law and national) may resort to a compromise candidate if the candidates of the coalition could not pass the mechanisms put in place to select one candidate for prime minister.

http://www.alsabaah.com/paper.php?so...age&sid=104322

Iraqi Oil Minister: the next oil licensing round will focus on developing natural gas fields

The Iraqi Oil Minister Hussain al-Shahristani said Thursday, that the licensing round next to be announced by the Ministry of Oil will be with some foreign companies to develop natural gas fields, while rejecting the existence of problems in the production and export of crude oil in the province of Kurdistan.

He said Hussain al-Shahristani told the Kurdistan News (Akaenoz) Today, on the sidelines of the opening Mjsr central province of Karbala, said "The Oil Ministry federal determined to develop natural gas fields in areas of northern Iraq and western, by giving the licensing round for some foreign companies," which did not disclose their names.

He added, "Our goal is to develop natural gas fields to meet local needs, and perhaps export out of the country, in addition to our efforts to reach production of the Iraqi crude oil to twelve million barrels during the next six years, so we signed during the rounds of the licenses that we made last year, several contracts with China and U.S. and European nations to develop the fields in Basra, Amarah and other areas of northern and central Iraq."

Shahristani denied the existence of "a dispute with the Kurdistan Regional Government in the process of production and export of crude oil, and in particular to Turkey," he said, adding that "the provincial government has been very cooperative in this area, and Iraqi imports are the property of all Iraqis." According to his words.

http://www.aknews.com/ar/aknews/2/155952/

Iraq seeks drop of some Rafidain Bank debt

Iraq, carrying a $40-billion debt burden from the Saddam Hussein era, will ask Arab institutions to forgive some of the unpaid interest owed by Rafidain Bank so as to regain the rest, government spokesman Ali Al-Dabbagh said.

Arab companies and organisations will be asked to forego at least 50 per cent of unpaid interest accrued from deposits in foreign currencies blocked at Iraqi state-owned Rafidain Bank since the early 1990s, he said in an e-mailed statement on Thursday.

Iraq will repay them the remaining interest piled up since deposits were frozen under the Saddam Hussein regime, he said.

The Council of Ministers asked the finance ministry to negotiate a solution with the Arab institutions, who could otherwise demand the entire amount of unpaid interest as grounds for legal action that may lead to the freezing of Rafidain Bank assets abroad, he said.

The institutions had declined an Iraqi government proposal for them to forgive most of the unpaid interest and to accept being paid between 10 per cent and 30 per cent of the total amount, he said.

Iraq has thus decided to raise the proposal to 50 per cent, particularly after some Arab institutions filed and won lawsuits against Rafidain Bank, he said.

The Arab country is struggling to settle debts accrued since the first Gulf War and has set aside 5 per cent of its oil revenue to pay it.

Iraq may hold the world’s third-largest oil reserves, although sectarian violence and political conflicts have hampered economic revival since the US-led invasion in 2003 that ousted Hussein’s regime.

http://english.alrroya.com/content/i...dain-bank-debt

If Iraq got their act together, they would not have to borrow any money from anyone or ask for forgiveness of debts!

Originally Posted by livefree

If Iraq got their act together, they would not have to borrow any money from anyone or ask for forgiveness of debts!

AMEN to that livefree...as long as countries like ours{U.S.}keep on sending the government of Iraq money they will continue to keep putting it in their pockets and delaying what needs to be done..besides,where the officials are[GREEN ZONE] they have air condition plus the security forces ....the rest of the country has electricity for maybe 4 hours a day...its time for these politicians to get off their A***ES and move forward...IMHO...Pat

An official delegation to inform the oil fields close

United States Task Force in southern Iraq

Newsletter

The headquarters of the United States task force in southern Iraq

Basrah

Issue No.: 01-20100608

21 June 2010

By: Chairman Sergeants David built

An official delegation to inform the oil fields close

Basra Basra: a diplomatic delegation arrived in Britain, the Netherlands, Italy and Japan to the province of Basra on 25 May 2010, to strengthen the global interest to help Iraq develop its oil industry.

The delegation held a walking tour around one oil rigs For the purpose of more closely and to learn how to apply and use modern technologies in the global oil industry for the purpose of accelerating efforts to increase the scope of production. He was on the platform name 'and Weatherford 841', and the drilling rig This is one of the few buildings and structures in the arid region barren and dusty from the Governorate of Basra Containing the Rumaila oil, which is the largest in the country.

The field is located about 20 km from the border with Kuwait. Field is being developed by British oil giant BP giant BP In coordination with China's national production and supply of petroleum CNPC, And reports indicate that oil stocks Rumaila a 17 billion barrels, and that ownership of Rumaila left for Iraq.

Here that the oil belongs to the Iraqi people and the international community will in turn will help to ensure that the Iraqi citizens from its vast potential. The Rumaila field is currently producing 960 thousand barrels per day, nearly half of Iraq's current production. It is estimated that production would reach three million barrels a day within six years. Experts such as Mr. Randall Kaufmann Director of Operations 'and Weatherford 841' Refers to expectations that with the escalation of oil production has reached a level of integration, the resources and capabilities in Iraq to push the top oil-producing countries in the world.

He expects that as soon as the pipeline and the start of drilling operations, it does not take only a few weeks to finish well and then dismantle the tower and moved to another location to begin drilling a second well.

After a working lunch at the British Consulate General, the personnel managers of companies BP BP, Shell ShellAnd ENI ENI , And Exxon Mobil ExxonMobil, And many prominent Iraqi businessmen, who discussed the things that hamper the achievement of the momentum continuing to develop the full potential of the Iraqi oil industry in favor of the Iraqi economy.

After the check and inspection holes on the sources said the Italian ambassador Marizio Melanie that there is great wealth under the ground and carries a lot of hope for the future of Iraq. Mr. Milani says, "basically, with the level of high oil profits, it is a good opportunity to develop the Iraqi economy and then invest in other areas."

Japanese Chargé d'affaires, Mr. Katsuhiko Takahashi connecting seat belts before takeoff and approach to Rumaila oil in the twenty-fifth of May. Mr. Takahashi was one of the international delegation which toured the area Rumaila to gather information on the possibilities of the Iraqi oil industry. (Picture a special U.S. Army)

British Ambassador (left), Major-General Vincent Brooks, the commander of U.S. Task Force in southern Iraq, listen to the workers observed in BP which explains the modus operandi of the oil platform built over the Rumaila in the province of Basra. Photo was taken on 25 May 2010. (Picture a special U.S. Army)

Displayed equipment and rigs for VIPs who visited the platform wells 'and Weatherford 841', which is now underway to start pumping oil from the Rumaila in the province of Basra. Rumaila is the biggest oil field in Iraq, which has reserves estimated at 17 billion barrels. (Picture a special U.S. Army)

Bakhawmat workers working on the platform 'and Weatherford 841', which is now underway to start pumping oil from the Rumaila in the province of Basra. Rumaila is the biggest oil field in Iraq, which has reserves estimated at 17 billion barrels. (Picture a special U.S. Army)

Rows of pipes at the site platform 'and Weatherford 841' to drill wells, which is now underway to start pumping oil from the Rumaila in the province of Basra. Rumaila is the biggest oil field in Iraq, which has reserves estimated at 17 billion barrels. (Picture a special U.S. Army)

http://nahrain.com/d/news/10/06/100621ba.htm

INTERVIEW

Taha shield to the weekly: the Supreme Council was not opposed to meetings Allawi and Maliki

He said the leadership of the National Coalition Taha shield that the damage would welcome any national initiative that brings together existing Iraqi state law. He said former Democratic Rep. of the Supreme Islamic Council in a dialogue with the weekly that all countries with influence and interest In Iraq, striving to accelerate the formation of the government.

And the shield that the political forces and reached the locality of maturity so that now does not allow any outside interference. Or to receive orders from abroad because the national interest is driven. He stressed the need for the constitutional powers Enjoyed by Prime Minister's being played out institutional and not personal.

The text of the dialogue

* There are many differences in interpretation of the Constitution between the political forces, when will this cycle of the victim from behind, an Iraqi citizen?
Indeed, Iraq's cabinet delayed by political circumstances experienced by the country's true a hundred days In order to hold a hearing House of Representatives this delay is too large was supposed to take place before the meeting date, more because the conditions of Iraqi citizens are required to speed up the political forces in forming the government but the reality is a complex political situation, which imposes a lot of things articulated in my country.

Q: Do you think that there are foreign powers interfere in the formation of the government?
I think that there is no external intervention in the sense that There will be imposed on third-party blocs forming the Iraqi government is not in this sense, but there are foreign countries. And almost sure that all the countries that have influence in Iraq trying to find an interest in forming an Iraqi government and find Hogarib her and his decision but my opinion that this intervention is very weak today, Iraqi political blocs, I think, reached a stage of maturity to go ahead and call, of orders from abroad but the national interest are driven.

Q: So what do you explain the visit of Assistant Secretary of State for Iraq?
You know that there are U.S. troops still in Iraq and there is a security agreement between the two Iraqi and U.S. military and the U.S. hopes to shape the political situation according to what you want, according to its own advantage, but the political reality of Iraq has proved that not all of what America wants checks, or you can implement it for that so that my estimation, this visit will will not allow political parties to the Messenger of the U.S. That lays out the Iraqi government, but to provide advice to this effect is only And if any intervention will be confronted with total rejection of all the parties to the Iraqi government.

Q: What is the validity of Maigal that the National Coalition expressed his displeasure to meet with Allawi, Maliki?
National Coalition versa always welcome the idea to meet with Allawi and al-Maliki and be a good relationship between all the political blocs So let us round the table that brings together all parties and we have good relations with all parties and we have good relations with everyone believe Azbp the ice between the political blocs around the views and accelerate the formation of the Iraqi government, therefore, welcome this meeting and we hope To be much closer relationship between Iraq and Itlav rule of law.

* Emphasis on the formation of a committee the power to restrict the Prime Minister Is there a crisis of confidence between the National Coalition and the state of the law?
Not the formation of the Commission proposal, but there is no national coalition, but from all the political blocs is that there are three deputy prime ministers, including distributed power I have estimated that each position there are constitutional powers must be exercised But not in a personal way, but in a way because this is an institutional position for the management of the Iraqi state.

* There is a proposal that the Prime Minister will rule for one year and if proven failure in the management of the government is to change the validity of this proposal?
The truth is that this act is unconstitutional because the constitution and clear as possible to introduce a deputy prime minister, allowing them to his powers either year and the prime minister is replaced by this talk is not unconstitutional because the House of Representatives is the one who gives confidence to Overnmpubmakn month can pull this confidence but justification must be convinced by the Council of Representatives

http://www.alesbuyia.com/inp/view.asp?ID=12801

Embassy of theAMrikip / Baghdad

Press announcement

June 21 2010

American companies looking for opportunities to trade in Iraq

More than one hundred and twenty-eight firms from the United States and about a hundred businessmen and representatives of the Iraqi government in the course of marketing including catalogs on the activities of exhibitors in Baghdad on Sunday, June 20, 2010 Rasheed Hotel. This celebration was organized under the auspices of the U.S. Embassy and PRT Regional In Baghdad and the International Company for Marketing needles Koartayl "Upper Quartile/G4S", Which is an opportunity for senior local businessmen and their agents to get acquainted and communicate with those responsible for the promotion of trade the American embassy and industry advisers to the provincial reconstruction team in Baghdad. Has offered to American companies to participate in this event catalogs on its activities and contact information of companies leading in various sectors including industry, health, water, agriculture, security, education and consumer goods. They hope American companies in the consolidation of relations with the Iraqi business community which in turn seeks to create new opportunities for trade and investment.

The Commercial Advisor at the U.S. Embassy Brian McCleary, "The engagement in trade leads to the well-being of all, Iraq has a legacy rich in the area of trade in the U.S. who wishes to join as business partners." McCleary said the audience that this kind of promotion activities for business is a familiar sight in many markets around the world, reflecting a clear effort to strengthen economic ties and trade between the regular United States and Iraq. The McCleary said: "The Government of the United States will continue to facilitate opportunities for networking and mutual understanding between companies in both countries, leading to a gradual expansion of the scope of industries and doubling the number."

He congratulated Mr. Kevin Hughes Industrial Advisor for Reconstruction Team Regional bBaghdad,Ms. Jan CASE representative marketing company Upper Quartl "Upper Quartile/G4S"The group participation on the success of this event, also encouraged local businessmen to continue their efforts to create new opportunities. Hughes said," The courage and perseverance were important to the success of businesses in any market, and Baghdad is no different from those markets. I have beaten this exhibition catalog is another example of how cooperation between government and the business sector to help improve the economic conditions for all. Spoke of similar events for networking and dating all around us, the next step is for participants to cross the border and work on a new business. "

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http://nahrain.com/d/news/10/06/100621ca.htm