Thread: Archive News - Iraqi Dinar Think Tank - 06/10/2010 - 24/01/2011

Natural resources of Kurdistan: Shahristani does not have the right to make decisions at the current stage

The official source at the Ministry of Natural Resources Kurdistan Regional Government said Wednesday that Iraq's oil minister does not have the right to issue decisions and instructions at the present stage, indicating that the matter should be entrusted to the government anticipated.

The source, who preferred not to be named, told p Kurdistan News (Rn) announced today that "we do not agree with all statements made by Iraqi Oil Minister, because the question referred to fall within the powers and the upcoming work of the Iraqi government."

It was Hussain al-Shahristani said in a statement he made to (Rn) on Tuesday, "The government of the Kurdistan region should be based export 100 thousand barrels of oil per day, in order to get the province to share assessments with 17% of the overall budget for Iraq."

The official said the Ministry of Natural Resources of Kurdistan said "al-Shahristani, has at the present stage the right to issue instructions and decisions, because the issue is at the heart of the upcoming Iraqi government, and we renew our commitment to our emphasis on the permanent Iraqi constitution."

The Undersecretary of the Ministry of Finance of Iraq Fadel Prophet had said earlier for (Rn) that "the Kurdistan region will get its share of assessments from the public budget for Iraq to export oil, whether carried out or not."

He said the Prophet, "The Kurdistan Region receives its share of assessments from the public budget for Iraq in two ways, first way is direct, which are obtained 17% of the total budget, according to the Iraqi constitution, and the way the second in the event that any province or territory to export its oil abroad, is allocated an amount of U.S. $ one has for each barrel of oil is exported, added to its share of the budget."

http://www.aknews.com/ar/aknews/2/199048/

Parliament adjourns session until Saturday

the Iraqi parliament adjourned its session until next Saturday, a lawmaker from the National Alliance said on Wednesday.

“The parliament postponed its session until Saturday (Dec. 4) to discuss its internal system,” Sami al-Askari told Aswat al-Iraq news agency.

The parliament had started its regular session today with the attendance of 225 members under the chairmanship of Osama al-Nujiefi.

http://en.aswataliraq.info/?p=139392

Lower central bank sales to 153 million dollars

Close the Central Bank of Iraq on Wednesday The first of the month of December Fourth DIFC Week sessions for the sale and purchase of foreign currency and the dollar down Level Sales of the dollar To 153.384 million dollars after it rose in its previous investigators 198 million U.S. dollars at a stable exchange rate was 1170 dinars per dollar.

The Information Office of the bank in the bulletin I got a copy them to the total sales were only amounts transferred out of the country amounted to 153.384 million dollars kick Bank in cash and at a stable conversion was 1183 dinars per dollar, including the commission of the bank of $ 13 dinars per dollar.

It was not the bank of any cash transactions for this meeting.

The number of Banks contribute to the auction were 16 banks, note that the Central Bank of Iraq Itqdy a commission of $ (13) dinars per dollar with a deduction of (8) dinars per Dollars from the amounts purchased.

http://translate.google.co.uk/transl...n&hl=&ie=UTF-8

Granting licenses to six companies to invest in Basra

given the investment of the province of Basra on Wednesday, one of six companies licenses for a Kuwaiti company in an effort to implement investment projects in the province located to the far south of the Iraqi distance of 550 km from the capital, Baghdad.

The chief investment Basra Haider Ali Fadel told the Kurdish news agency (Rn) "gave us leaves an investment of five Iraqi companies and one Kuwaiti called the company (Nukan) for oil services," noting that licenses "includes a project to create a theme park amount of up to four million and 200 thousand dollars and implemented within two years."

"The licenses also include a second project to build a commercial complex of about four million and 700 thousand dollars, and be implemented over a period of up to two years."

The third project, and the talk is still the President of the Investment Authority, will be to establish a desalination plant worth 400 thousand dollars and is being implemented in three months.

And the fourth draft and on the establishment of a commercial complex Fadel said it would cost more than 900 thousand dollars and carried out in ten months.

"While the project will be the fifth building in the city hotel of $ 21,000,300 thousand dollars and the duration of up to about a year and a half."

Fadel said, "In the latter project will create a residential complex comprising 8000 residential units worth up to about $ 249 million."

He pointed out that Fadel aforementioned facilities include recreational accessories and service for many, noting that these projects will provide about 1000 jobs for the unemployed in Basra.

According to the Iraqi investment law, the projects will start after 60 days of the signing of investment contracts.

The head of the Basra Governorate Council, the Secretary-Jaber Al-Jabbar's (Rn) "We are in dire need of such projects, especially residential ones, since the apartment complex will be built which would reduce the proportion of the housing crisis by about 10%" in the province.

Indicated that the approval of the granting of licenses six took more than half a year.

The focus of the project near the city of Basra in sports tourism as accessories complement the project, according to Director of the Investment Commission of Basra.

http://www.aknews.com/ar/aknews/2/199100/

Central Bank Consultant: We seek to restructure the currency

An advisor of the Central Bank Mzarsaleh that the bank is seeking to restructure the currency to suit the economic development., "Said Saleh (of the Agency news) today:

We will resort to the restructuring of the currency to suit the new situation and economic progress, noting that the currency is growing day by increasing Alatnag and economic progress, not because of inflation and release as before.

He added: that the value of the Iraqi dinar escalate, and this rise has achieved a major goal in addition to the purchasing power of the dinar rose to the value of imports.

Saleh explained: Ann's central bank plans to maintain the value of the Iraqi dinar and the essence of monetary policy, which we have adopted the stability of the overall level of prices.

Salih noted that the exchange rate the Iraqi dinar and foreign currencies is the external value of currency, where the value of internal and external value, explaining: the external value is important for the economy of oil-exporting countries and importing of goods of the many, as we believe that monetary policy is part of the targeting of inflation and raise the purchasing power of the Iraqi dinar . .

http://www.ikhnews.com/news.php?action=view&id=5006

1st December 2010

Central Bank Adviser: reserve is sufficient to raise the value of the Iraqi dinar

Central bank adviser said the appearance of Mohammed Saleh, said that the Iraqi dinar force depends on two factors the first of what is owned bank reserves amounting to less than 50 Mlyardinar as well as inflation.

The added benefit of the reporter that the Iraqi economy suffers from inflation, which had previously ranged between 37 to be arrived today less than 3% Foundation with inflation exchangerate stability, indicating that the central bank's target is to reduce inflation, which led to an increase in the purchasing power of the Iraqi dinar.

Indicating that the reasons that led to the high level of inflation due to the absence of the type of export products and our dependence on one type of export and this makes the Iraqi economy, unilateral and non-qualified to work on raising the real apical of the Iraqi dinar.

http://translate.google.co.uk/transl...n&hl=&ie=UTF-8

Iraqi Cabinet Approves 93 Trillion-Dinar Spending Plan for 2011

Iraq’s cabinet approved a 93 trillion-dinar ($79.5 billion) federal draft budget for 2011, an increase of about 9 percent on the previous year’s spending plan, the government’s official spokesman said.

The budget is based on an oil price of $73 a barrel and average crude output of 2.25 million barrels a day, according to the statement. It forecasts government revenue at 78.7 trillion dinars, leaving a deficit of 14.3 trillion dinars that will be covered by borrowing, sales of assets and other income, Ali al-Dabbagh said in an e-mailed statement today.

Lawmakers still need to approve the document. The process has been delayed by the eight-month political deadlock that followed inconclusive parliamentary elections in March. Iraq took its first steps to form a new government last month when Prime Minister Nuri al-Maliki secured a second term and was tasked with choosing the new cabinet.

A total of 29 trillion dinars was set aside for investment next year, and 64 trillion for operational expenses, Al-Dabbagh said in the statement. The oil production forecast includes 150,000 barrels of crude exported daily from Kurdistan, he said.

Supplementary payments of 1.6 trillion dinars was set aside for oil and gas-producing provinces, which will be allocated according to their output, according to the spokesman.

Iraq has awarded 12 oil-service contracts and three gas licenses as part of a plan to boost production. Iraq has official oil reserves of 143.1 billion barrels, excluding the northern region of Kurdistan, and depends on oil revenue to fund about 95 percent of its budget.

The 2010 budget of 84.7 trillion dinars was based on an oil price of $63.50 a barrel, and forecast a deficit of 22.9 billion trillion.

http://www.bloomberg.com/news/2010-1...-for-2011.html

More Jobs For the Boys

It seems that the newly-appointed Prime Minister, Nouri al-Maliki, and his team are having to be increasingly inventive in their efforts to piece together a new cabinet.

Creating, in effect, two energy ministries – if indeed these rumours are true – will help increase the size of the cabinet pie that he can then dole out to the various parties who insist on being represented at the table.

Changing the number of Deputy Prime Minister posts from two to three, creating the new ‘strategy’ position for Ayad Allawi, and possibly devising new ministerial positions, may help to keep the rival factions on-side, but it is hardly conducive to the efficient running of the country. It’s an unfortunate, but perhaps necessary, trade off.

http://www.iraq-businessnews.com/201...-for-the-boys/

Iraq expects to initial Akkas gas deal within days

Iraq expects to sign an initial contract for the Akkas gas field within days, a senior Iraqi oil official said on Wednesday, after a delay due to a row between the oil ministry and local authorities over exports.

South Korea's KOGAS and Kazakhstan's KazMunaiGas won a deal on Oct. 20 to develop the western Akkas gas field, near the Syrian border, in Iraq's third energy auction since the 2003 U.S.-led invasion.

But the initial signing, originally scheduled for Nov. 14, was postponed. Iraqi oil officials said the delay was to give the companies more time to look over the contract, amid a dispute between the Iraqi government and provincial officials over the deal.

Deputy Oil Minister Abdul Kareem Luaibi told Reuters the ministry will be meeting with local officials from the Anbar province, where the field is located, over the coming days to clear up a misunderstanding over exporting gas from Akkas.

"They (Anbar officials) understood that we will export all the gas from Akkas, which is not true. We have a national system to distribute the gas," he said.

"If we have a surplus we will export it through Syria, not just gas from Akkas, but surplus gas from all of Iraq."

Luaibi said he saw no problems with going forward with signing the initial contract "within days." The initial contracts will then be sent to the cabinet for final approval before a final deal is signed.

The Akkas deal became controversial when authorities in Iraq's western Anbar province, the Sunni heartland and a former al Qaeda stronghold, said it would not allow the foreign companies to work there.

Iraq, holder of the world's 10th largest gas reserves, has said the priority for the gas will be domestic consumption, mainly for power generation, but has left open the possibility of allowing exports once domestic needs are satisfied.

More than seven years after the U.S.-led invasion, Iraq's national grid only supplies a few hours of power each day.

Iraq has plans to build a gas pipeline through Syria as part of a master plan to expand gas distribution throughout the country and possibly export any surplus. Akkas has estimated reserves of 5.6 trillion cubic feet of gas.

http://af.reuters.com/article/energy...BrandChannel=0

Richard Gere expresses regret for causing America's destruction of Iraq

"The American film star Richard Gere that the decision of the U.S. invasion of Iraq resulted from the President of a weak personality, referring to George W. Bush, who made America and implicated in a war that was not forced to fight.

The transmission of profound sadness on the cause of America in the destruction of Iraq, hoping that the Iraqi people can work to rebuild Iraq.

This came in a seminar that resolves Richard Gere's guest Wednesday afternoon at the Hotel Sofitel in Cairo, the island, within the Cairo Film Festival, 34, and run artist Dalia Buhairi, in the presence of the festival artist Ezzat Abu Ouf.

And by Richard Gere is very happy with his participation in the activities of the 34 Cairo International Film Festival, referring to his clothes were shredded during the opening ceremony which was held Tuesday evening.

He pointed out that Richard Gere did not fear the invitation to come to the Middle East, because he loves always identify with the culture and policies of the peoples, as he was concerned the positions of Middle East politics.

He disclosed that during his visit to Palestine was with him one of his friends who Okhavoh Israelis from entering Ramallah, the curfew time, but he was determined to complete his journey to discover how good and friendship existing among the Palestinian people.

http://www.ipairaq.com/index.php?nam...xture&id=33109