Thread: Archive News - Iraqi Dinar Think Tank - 22/06/2010 - 04/10/2010

Rocket aimed at the U.S. Embassy denied in the Green Zone in central Baghdad

A source in the Iraqi police, Sunday, that the Katyusha rocket landed on the campus of the U.S. Embassy located in the Green Zone in central Baghdad, while pointing out that the rocket was the third targeting the Green Zone after two missiles landed in their surroundings without Ikhalafa losses, when you hear the helicopter U.S. patrolling the skies of the Iraqi capital is heavy.

The source said in an interview with "Alsumaria News", the "Katyusha rocket fell, at around ten and a half Sunday night, on the campus of the U.S. Embassy inside the Green Zone in Baghdad, "noting that" the missile that exploded inside the compound did not know the damage Left behind."

The source, who requested anonymity, that "I heard sirens echoed from inside the Green Zone, as when U.S. planes flew extensively over the skies of the capital."

The source pointed out that "the missile was the third targeting the Green Zone this evening, "explaining that" two rockets had landed earlier in the surrounding area, causing no damage."

The leadership of Baghdad to San spokesman Maj. Gen. Qassim Atta, in an interview with "Alsumaria News" this evening, two rockets landed on the banks of the Tigris River in the vicinity of the Green Zone, and one of the rockets did not explode, causing no explosion the other for any losses.

The source revealed an officer in the emergency operations police that "the three missiles were to locate the launch, a Sadr City (East Baghdad), "noting that" missiles, which are usually aimed at the Green Zone, launched from Sadr City, which is the main stronghold of the Mehdi Army militia of the Sadrist movement Or nearby areas."

Coincided with the fall of the missiles with a visit by the delegation of senior U.S. to Baghdad under the chairmanship of Vice President Joe Biden, which was rejected by the Sadrists walking through protests in the city of Najaf on Sunday, and through a statement issued by the cleric Moqtada al-Sadr.

The Green Zone, which is located in central Baghdad, including American and British embassies, as well as at the Iraqi Convention and many government buildings, the region is witnessing, which is immune to very Katyusha rocket attacks and mortar fire almost continuously, resulting in some of casualties And material.

http://www.alsumarianews.com/ar/2/85...-details-.html

President of the Baghdad Chamber of Commerce complains of protection measures taken on the Central Bank

Head Chamber of Commerce of Baghdad, said the new security measures taken by the security forces on the Iraqi Central Bank building, damaged the traders and shopkeepers in the surrounding area.

Jaafar al-Hamdani, and the voices of Iraq, said the new security measures put in place after the armed attack on the Bank, was to cut off the main streets leading to it and sub- Rashid Street, as well as the Arab world and Rusafi, as well as the road to Shorja.

The al-Hamdani said the new procedures affecting a substantial number of traders who protested, Sunday, in front of Baghdad Chamber of Commerce, demanding the opening of that road because the actions taken have led to cut their livelihood, he says.

Hamdani and demanded the competent authorities to find alternative solutions to protect financial institutions, pointing out that the security authorities recently developed more concrete barriers to cut off many of the other streets.

http://radionawa.com/ar/NewsDetailN....268&LinkID=151

Minister of Finance : preparing for the first time a federal budget for three years

Finance Minister Baqer Al Zubaidi said the economic successes achieved in Iraq was the result of strong and sustained effort of the Ministry of Finance in formulating and implementing fiscal policy that has been growing "significantly" in the Iraqi economy.

The Finance Minister said the economic relations between Iraq and the United States of America developed, noting that Iraq had made significant progress in the relationship with international institutions, especially the International Monetary Fund agreement was signed chock SBA were delivered (400) million dollars of the loan, (3,8) Billion dollars over two years and the discussions with the Fund for the period from 1317 / July for the second installment of the loan and the amount of (475) million dollars in addition to cooperation with the World Bank through a program of economic reforms the Iraqi who arranged the standards related to the first review of the arrangements chock Fund International Monetary which will help pave the way for a study loan, the second development policy amount (250) million dollars of the amount of up to (500) million to be submitted by the World Bank for Iraq. and Zubaidi, the Ministry of Finance have grown in support of the private banking sector, where up Dependence the one that opens in private banks to four million dollars, and this great achievement in support of private banks.

Minister of Finance revealed that Iraq has prepared a strategic budget for the year (2011 / 2012 / 2013) which sets for the first time in Iraq to develop strategy and clear for the phased reduction of the deficit Iraq's budget for these years, federal and limiting the benefits of higher oil production to keep the security and economic gains achieved in Iraq.

http://www.alsabaah.com/paper.php?so...age&sid=105276

SDV Takes on the Logistics Challenge in Iraq

Following the opening of a representative office in Baghdad, with branches in Zakho and Basrah, SDV has become the first European logistics group to be based in Iraq. This confirms SDV’s continuous commitment to this market for over 12 years.

The reconstruction of infrastructures (oil & gas, water supply, sanitation,…), which cater for the country’s 31 million inhabitants, is a large-scale challenge in Iraq.

SDV is already the partner of key-players in the Iraq Energy sector, providing customized solutions which include a complete range of services in multimodal transport, customs management, warehousing and industrial projects.

By increasing its presence in Iraq, SDV demonstrates its capabilities to manage complex transport plans, to escort goods at each step of the process and to strictly comply with security procedures.

SDV is a subsidiary of Bolloré, a highly diversified, independent industrial group that ranks among the world’s top 10 in transport and logistics. SDV’s core business is intercontinental air and ocean freight.

http://www.iraq-businessnews.com/?p=5161

Sources: The U.S. military will end the combat duties in Iraq even if no cabinet is formed

Sources confirmed the U.S. was escorted by U.S. Vice President Joseph Biden, said Washington was determined to end combat missions of troops in Iraq, according to the planned route, or even ahead of schedule and regardless of the formation of a new Iraqi government or not.

The officials, who refused to reveal their inclinations double Biden's visit, it is to spend the Independence Day holiday with the U.S. military and for meeting with political leaders to quickly form a new Iraqi government.

For his part, Biden expressed after a meeting with Melkert and Odierno on optimism about the formation of a government that includes all Iraqi sects.

http://www.radiodijla.com/cgi-bin/ne...?id=2010-07-04

Flydubai Names Erbil As Newest Destination

Flydubai, Dubai’s first low cost airline, has announced flights to destination number 22, Erbil in Iraq. Flights to Iraq’s third largest city and capital of the Kurdish region of Northern Iraq, will start on Friday, July 16.

Flydubai’s CEO, Ghaith Al Ghaith, said, “Erbil is reinventing itself and undergoing an economic boom with new hotels, leisure and healthcare facilities, commercial towers and trade centres. The city’s rapid development has been compared with that of Dubai and it is a beacon of progress for the rest of the country.

“In 2009, the UAE was the top foreign investor in Iraq and according to reports, the UAE is set to double investment in Iraqi Kurdistan to around Dhs22bn in the next three years.

Flydubai’s new service will not only help to strengthen the relationship between our two nations but will also give the many Iraqi expatriates living in the UAE another affordable, quality air travel alternative to visit friends and family back home.”

More than 6,000 years of history and the region’s natural beauty has made it a regional retreat for centuries. With the advent of a more stable period in the country’s history and increasing numbers of direct flights, the city is opening its doors to a new wave of travellers and tourists.

Flights to Erbil will operate twice a week on Fridays and Mondays. On Fridays, FZ201 will leave Dubai at 1830hrs, arriving in Erbil after a flight of three hours at 2030hrs local time. FZ202, will depart from Erbil at 2115hrs, landing in Dubai at 0055hrs local time. On Mondays, FZ201 will depart from Dubai at 1130hrs arriving in Erbil at 1330hrs local time and the return flight, FZ202, leaves at 1415hrs landing in Dubai at 1800hrs local time.

Flydubai operates from a modernised and enhanced Terminal 2 on the north side of Dubai International Airport.

http://www.iraq-businessnews.com/?p=5176

Iraq to Export Gas by 2015

Further to the gas deal signed with Shell and Mitsubishi, - an Iraqi government spokesman is saying that gas output will probably exceed the nation’s domestic demand for power generation by 2015 or 2016, allowing the country to export gas in liquid form.

Natural gas is produced as a by-product of crude oil production, and is expected to double within three years as the country boosts its oil output. The Shell/Mitsubishi project aims to capture about 700 million cubic feet of gas a day in southern Iraq, making use of fuel that’s currently flared off.

http://www.iraq-businessnews.com/?p=5154

Refining Iraq’s Economy

Within five years, Iraq will turn from an importer of petroleum products into the world’s largest exporter, according to the Oil Ministry’s new investment map, unveiled in Nassiriyah this week. To achieve this, Iraq has opened the door wide for international companies to build four new refineries and refurbish existing ones in order to boost production of oil products up to 1.5 m barrels a day. The plan aims not only at transforming Iraq into an exporter of petroleum products but also to build the country’s ability to attract skilled scientific professionals.

“Iraq suffers from the absence of specialised cadre in petrochemical manufacturing,” claims Hussein Shahrastani, the Oil Minister. He urged the Iraqi youth to join universities and colleges specialising in subjects relating to the petrochemicals industry, because “the oil industry will secure them good jobs in the future.”

Shahristani says Iraq currently produces 550,000 barrels per day (bpd) of oil products, including 12 million litres of gasoline, 15 million litres of Kerosene Oil, and about 9 million litres of white oil.

The bulk of new projects and the largest of all will be in Nassiriyah province, according to Ahmad al-Shammaa, the Ministry of Oil Undersecretary for Oil Refineries and Industries. The new refinery will carry the name of the province and its production capacity will reach 300,000bpd, generating 600MW of electricity and having access to ports. The refinery is expected to cost US$8 billion.

Karbala is another major target of the map. Though its refinery will be the smallest built under the new plan, it will be the most important. Its production capacity will be 140,000 bpd, producing 400MW of electricity. Its importance lies in its central location, the centre of consumption and the place where all production will be stored.

Two refineries in Missan and Kirkuk, at a cost of US$500,000 each will produce 500MW and 400MW of electricity and supply Iraq’s northern and southern areas respectively.

With Iraq needing to encourage investors to the country, the Ministry of Oil and the Council of Ministers have decided, according to Thamer al-Ghadban, the chairman of the advisors’ commission, to provide international companies with incentives. These include a 5 percent rebate on world crude oil prices. Elsewhere in The Gulf, the discount is only 1 percent. Investment companies will be allowed to own projects on their own or partner with local firms and their leases on land are expected to be extended from 40 to 50 renewable years.

“Many Asian countries, especially Korea and China, expressed interest in Iraqi refineries, because they need energy, they import crude oil and they want to improve their refining capacities,” said al-Ghadban. “There is a mutual benefit for Iraqis and investors.”

Investment incentives will come also from the National Investment Commission.

“According to the law, the commission will be responsible for issuing investment licenses to companies,” said Sami al-Aaraji, the Commission’s Chairman. “The size of investment in refineries will reach some US $25 billion.”

The Commission, says al-Aaraji, will guarantee “freedom to move capital in and out of the country, in addition to tax exemptions,” and make registration easier. Existing, off-putting, procedures have been streamlined under the ‘Single Door’ system.

“This procedure has been adopted because of the many complaints received from investors regarding the complicated procedures,” said al-Aaraji.

Shahrastani says the refineries are already at the design stage. Investment proposals are expected by the end of the year, when the design of the Karbala refinery will be complete.

“It is then that international companies will be able to see the quality of facilities we want built, the amount of oil products we want to produce, and the time needed for the completion of the work.”

US companies will design the Nassiriyah, Missan and Kirkuk refineries, with an Italian company in charge of Karbala’s design. For Iraqis, the refineries will bring jobs, lower petroleum prices and better quality products, as well as providing fuel for home generators and wattage to help solve Iraq’s chronic energy shortage.

“Iraq needs a budget capable of improving the very weak infrastructure in the country,” said Qasem Jaber, an economist.

“Investment must be increased and that is the Oil Ministry’s responsibility, because it provides about 85-90 percent of Iraq’s GDP. Other sectors are still inactive and they all need oil to start functioning.

“The developments will not take place overnight. The implementation will take up to five years,” Jaber explained. He urged the government to invest in the country’s existing refineries.

“There is a gap between the production capacity of existing refineries, which is about 800,000 bpd and their actual production of 500,000 bpd.”

The Ministry of Electricity needs approximately 9 million litres of kerosene a day to run its plants. However, the Oil Ministry is only able to supply 4 million litres. The difference is being covered by imports from Kuwait and Iran.

“Any real improvements will only come if that gap is bridged. There is a chance now that the Oil Ministry has taken over energy production since the sacking of Iraq’s Electricity Minister, Kareem Wahid.”

Hamza al-Jawahiri, an oil expert, described a change among oil-producing countries from exporting cheaper crude oil to exporting the pricier products of refining, bringing greater benefits to their economies, pointing to the example of Algeria.

“Now, the country is getting so close to exporting oil products instead of exporting crude oil,” he said.

Not only does this mean more money coming in for refined petroleum products but it also means more jobs in refineries and service facilities for local workers. However, al-Jawahiri warned that all the government’s ambitious plans for improving the oil sector must meet international environmental and safety standards.

“Failure to apply international standards in environmental protection and industrial safety are the most alarming risks. The Iraqi government must set strict public safety standards and rules and remain aware of all possible risks.”

http://www.iraq-businessnews.com/?p=5180

Head of Basra Investment Commission “Dismissed … Re-appointed”

According to several sources, the administration of Basra province council has dismissed the director of Basra Investment Commission, Dr. Haider Ali Fadhil. Ahmed Ali, a member of the committee, was appointed in his place.

Meanwhile, Alsumaria TV reports that Dr. Fadhil was dismissed by Basra’s governor, but that the Council has objected to the dismissal and reappointed him, stating that the Governor acted beyond his authority.

The Investment committee in Basra province started its work officially at the beginning of October, 2008 after it was formed with support from the British government.

A spokesperson for the Commission stressed that its doors are still open to receive the investors and to help them to implement their projects.

http://www.iraq-businessnews.com/?p=5157

Kanna : poor application of investment laws and monopoly power was born in Basra feedback

Rep. Kanna there were errors in the application of laws and a state of commitment in some of the central policy-generated reactions in Basra because of monopoly power and lack of development of vital sectors of the possibility of investment in the province compared to Kurdistan region.

"We were in contact with the agency and the independent press (Iba) that the investment authorities in the provinces have the authority specified in the size of the investment projects to come beyond the validity of the National Investment Commission and if the value of investments exceeded 250 million dollars to become the prerogative of the government.

And Carter said all political parties have specific policies and trying to pass, achievable and sometimes reflected in the provincial councils through the manipulation of laws.

He pointed out , there are attempts to circumvent the laws and regulations which define the functioning of investment projects and guarantee the rights of provincial councils.

And that even in the House of Representatives we have seen this process by blocking approval of the law after it is submitted to the government to return to parliament and re- submitted to the government again, which led to delay adoption of the laws up to two years.

He pointed out the errors in the application of laws and a state of commitment in some of the central policy, a remnant of the former regime, thus generating reactions, most notably in Basra because of monopoly power by comparing the people of the province between the reality of the energy sector between Basra and the Kurdistan region.

The official circles in Basra province, called for reviving the project of Basra to be separated from the central government due to poor allocation of resources necessary to maintain the oil-rich projects, which represent the economic capital of Iraq.

http://www.ipairaq.com/index.php?nam...onomy&id=27407