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

Great post Sydney. A new era begins..Hopefully for the investors and speculators alike as well.

I appreciate all the hard work done by Seaview, Richardson53 and Sydney6174. With the Saddam-era sanctions lifted, Iraq will indeed fulfill its potential as one of the Middle Eastern economic powerhouses. I know Richardson53, Sydney6174 and Seaview for a long time. I will increase my commitment to this forum in the near foreseeable future.

I to appreciate what all of you do for this forum...been a member since 2005...been a dinar owner almost 6 years...hopefully we are near the end of our journey...and what a wild ride it has been...thank you for all the information that ya'll provide

Oil Ministry welcomes the decision of the Council to lift international sanctions

Welcomed the decision of the Ministry of Oil and the UN Security Council action to cancel the oil for food and medicine.

According to an official source at the ministry in a press statement by reporter that the financial and oil imports will be from now on under the direct supervision of the Ministry of Finance and Central Bank of Iraq.

The spokesman, Assem Jihad, Oil Ministry said Thursday that international action will contribute to support the work of the ministry to increase oil production rates, and explained that this resolution will contribute to enhancing the confidence of foreign investors to the oil sector in Iraq. The UN Security Council decided at a meeting held on Wednesday, lifting a large part of the international sanctions against Iraq since 1990.


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Indicted Firm Wins Extension of Iraq Contract

The Defense Department is being forced to extend multimillion-dollar contracts for services in Iraq, including one with a firm under criminal indictment, because losing bidders have legally challenged the companies selected as replacements, according to a report from the Washington Post.

The Kuwaiti firm Agility, charged in November 2009 with overbilling food contracts worth $8.5 billion over four years for troops, civilians and contractors in Iraq, Jordan and Kuwait, recently received a $26 million, six-month contract extension because another Kuwaiti firm – Kuwait & Gulf Link Transport – challenged the April award of the food contract to Agility’s replacement, Anham, a Dubai-based conglomerate.

A second firm, Fulcra Worldwide of Arlington, was awarded an extension worth $5 million on its strategic communications contract in Iraq with U.S. Central Command after Fulcra itself filed a claim against loss of the contract to another bidder, New York-based SOS International.

The Defense Logistics Agency, which supervises the food contract, decided to extend the Agility contract through April 2011 while the protest against Anham by another bidder is being adjudicated by the Government Accountability Office (GAO).

Agility had been scheduled to transition the work, which amounts to more than $300 million a year, to Anham. However, Kuwait & Gulf Link Transport filed a protest against the award on the grounds that Anham’s proposal failed to meet criteria set out in the contract offering.

While a decision by the GAO is expected shortly, Anham has been delayed in preparing to take over the contract, which involves not only purchasing and supplying food and other items, but also warehousing it in Kuwait before shipping to Iraq and Jordan to meet the needs of about 145,000 people.

Meanwhile, Agility, which has been barred from bidding on new U.S. contracts, will continue to provide provisions under the contract extension. The company also has been fighting the Justice Department indictment in federal court in Georgia claiming it cannot be subpoenaed or tried anywhere outside Kuwait. After the indictment, Agility closed its U.S. offices, even though top officials of the subsidiary handling the contract are not only U.S. citizens but also former Army generals, one of whom served in a senior position with the Defense Logistics Agency.

Central Command announced last week it had to extend the Fulcra contract for six months because to “award to any other source would result in unacceptable delays and negatively impact the ability” of U.S. forces in Iraq to carry on “all aspects of media communications activities,” according to the paper justifying the decision.

Under the contract, which it has had for more than three years, Fulcra not only works directly with the Iraq government spokesman and ministers at the Defense and Interior ministries, but also carries out monitoring of media in Iraq, plans strategic messaging, and manages Web materials for English and Arabic sites supporting the Iraq command. Fulcra is the new name for the Lincoln Group, which as a Pentagon contractor in 2005 was found to have paid Iraqi newspapers to print stories written by American soldiers or its employees.

Fulcra lost its bid on the new contract in June and in July filed the first of three complaints with the GAO. It lost the first two and before the last one was settled, the firm filed a protest in October with the United States Court of Federal Claims, where it is pending. Meanwhile, Central Command was faced with a dilemma since Fulcra’s complaint prevented SOS International from making preparations to begin work and keeping Fulcra in place was its only option.

Fulcra is claiming that SOS filed an “unreasonably low-priced proposal,” according to its complaint before the Court of Federal Claims. Arguing the new contract was “largely similar” to the one Fulcra now holds, the firm said its current monthly price was $531,459 while the SOS bid averaged out to $158,620 a month for what were to be “largely similar” services. In the complaint, Fulcra argues that SOS’s bid, which offered a 70 percent reduction in cost, was “unrealistic” and thus should have been”technically unacceptable” by Central Command.

Fulcra described the SOS bid as a “bait and switch” violation, where the offer misrepresents its costs with the hopes of winning the contract and then expects to be paid based on higher actual expenditures.

SOS’s response to the allegations was sealed and a lawyer representing the firm said she would not comment on the case.

http://www.iraq-businessnews.com/201...aq-contract/3/

Allawi, Maliki, to get equal salaries

Associated Press reports that Ayad Allawi will join the Shiite-led government being assembled by his top rival, Nouri al-Maliki, clearing a final hurdle tp end months of tortuous, post-election dealmaking.

Despite recent negative comments, the two held what appeared to be a warm 90-minute meeting on Tuesday after which an Iraqiya spokeswoman said Allawi has agreed to join the government as head of a newly created council to oversee security and foreign policy issues.

The move gives Allawi veto power over many of al-Maliki’s top priorities. It also affords him the same salary as al-Maliki, believed to currently be at least $360,000.

While not officially announcing any decision, Allawi said “We reached a joint vision .. Each of us has an experience that complements the other.”

Al-Maliki said “there are great challenges and we have the ability to confront all these challenges”.

Allawi is expected to have broad powers as head of the new National Council for Strategic Policies, a 20-member body that will serve as a counterbalance to al-Maliki’s major security and foreign policy decisions.

The Iraqi parliament will meet Saturday to discuss the creation of the new council and its powers.

http://www.iraq-businessnews.com/201...qual-salaries/

Iraq is on the cusp of something Remarkable

The UN Security Council finally decided on Wednesday to remove many of the 'Chapter VII' restrictions imposed on Iraq in the wake of the invasion of Kuwait in 1990.

This makes Iraq more independent, and is another step in putting the country on equal terms with the rest of the world.

As US Vice-President Joe Biden put it, "Iraq is on the cusp of something remarkable - a stable, self-reliant nation".

If the rival factions can piece together a stable cabinet over the next two weeks, and the indications are that they will, then we can look forward to more progress in a country where "everything imaginable needs to be rebuilt".

http://www.iraq-businessnews.com/201...ng-remarkable/

The government form a committee to discuss the fact, the oil with Kuwait

A member of the Committee that oil is formed by Iraqi Prime Minister Nuri al-Maliki to discuss the fact, the oil with Kuwait, on Thursday, the latter will examine the mechanisms of coordination and exchange of experiences in the field of oil extraction and export.

The Qassim Mohammed, a legal expert in the field of extraction of the Kurdistan News Agency (Rn), said that "Iraq and Kuwait will exchange expertise in the extraction of crude oil from oil fields and export process."

He noted that the "Iraqi Committee will consider a proposal for U.S. crude oil prices and the possibility raised to $ 90 instead of $ 75 per barrel for the importing companies."

He explained that "the Commission's work will begin early next month after the procedure between the two formats, technical as it will address how to develop oil ties between the two countries."

And that "this committee will help dissolve problems and constraints related to the issue of compensation and financial debts."

Iraq seeks to access the oil produced within the next six years between 10 and 12 million barrels per day, and plans to increase Iraq's oil exports oil daily after obtaining approval from the Organization of the international oil cartel.

The Iraqi government's decision the composition of the oil after one day of the UN Security Council resolution to lift, who spent the majority of Alqhobat imposed on Iraq under Chapter VII of the Charter of the United Nations.

And kept the UN resolution on sanctions in part on the file of Kuwaiti reparations, which called on Iraq to make further efforts to close the file.

http://www.aknews.com/ar/aknews/2/202838/

UN: Iraqi people still face security problems and lack of job opportunities and basic services

The Secretary-General of the United Nations Ban Ki-moon, on Wednesday, the Iraqi government would face "new challenges" after the Security Council resolution to end the activities remaining oil for food program "long and complex, which is unprecedented," calling for "normalization of relations with neighboring countries and the region and Protection of Minorities and return of migrants and displaced people ".

This came during a meeting held by the Security Council evening (Wednesday), local time, raising during which the sanctions imposed on Iraq for nearly two decades.
The moon also came via the satellite channels of local, Arab and international, that the Iraqi people "have suffered a lot and still faces security problems, violence and lack of job opportunities and basic services," adding that "it is necessary to recognize that this country has developed in key points and different areas and regained its role among the states" .

He explained that the UN Security Council "looking close some of the mandates of Chapter VII relating to Iraq, especially with regard to weapons of mass destruction and the oil for food program," noting that the international community "knows history is difficult, which passed by Iraq and that the decision to lift these obligations will put an end to the use of Chapter VII, because Iraq is free of weapons of mass destruction ", he said, that" an article in the constitution to prevent the acquisition of these weapons and signed the international conventions, especially the basic Treaty on the Non-Proliferation of nuclear weapons and the Convention on biological and chemical weapons appears the good will of this country. "

According to the UN Security Council "also decided to terminate the remaining activities under the Oil for Food program," noting that the Organization of the United Nations "will put an end to this long and complex program, which is unprecedented."

And on the political situation in Iraq, praised the Secretary-General of the United Nations, the agreement "took place between Iraqi politicians who put an end to months of political tension," and expressed "encouragement Iraqi political blocs to respect this agreement."

He expected the moon that the Iraqi government is facing "new challenges for the provision of opportunities for all Iraqis and normalize relations with neighboring countries and the region and protection of minorities, including Christians and management of oil production and re-displaced internally and externally," pointing out that "encourage Iraq's neighbors to open a new chapter with him.

http://radionawa.com/ar/NewsDetailN....491&LinkID=158

MP Mohsen al-Sadoun: New government will succeed 100% in dealing with the decision to lift sanctions

A member of parliament from the Kurdistan Alliance elderly Sadoun "The Security Council resolution lifting sanctions on Iraq came as a result of the transformation of the political system in Iraq.Federal constitutional and democratic gave a different picture to the world about Iraq as a source of peace. And not war as it was in the past, as well as that Iraq fulfilled its international obligations to the States, the Security Council stood by his side to get out of Chapter VII.

He said in an interview with al-Sadoun of the reporter The UN Security Council continued to discuss the issue of sanctions on Iraq And provided by the Prime Minister of the annual reports What are the changes and developments in Iraq, including the signing of the security pact with the United States and Iraq would become a fully sovereign, Noting that Iraq had reached in past years to develop Not able to move with the States after the former regime threatened to make it To international peace and imposed tougher penalties under the resolutions of Security Council and all this was the price paid by Iraq from underdevelopment and access to the bad economic situation experienced by the Iraqi people.

Saadun and that the issuance of decisions on the lifting of the sanctions imposed on Iraq a positive step towards the people and the Iraqi state, adding that the new government will be successful 100% In dealing with these decisions at the international level with Kuwait, which is still some outstanding issues with the need to work seriously to solve.

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