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

Expert: the return of capital to fill the investment gap

The economic expert Bassem Jamil Anton, the return of capital and Iraqi investors will work to bridge the investment gap.

Said Anton, according to the Agency by news that the benefit of the return of capital and certificates with higher capabilities in the private sector will fill the blanks that were filled in by the capacity of a modest, and this sends accurate signals to foreign capital, which was not reassuring to invest in Iraq.

And the economic expert, that the capital looking for opportunities for safe and easy to employ the money and invest in Iraq, stressing the need to grant facilities to enable it to contribute to the process of reconstruction of the country.

http://translate.googleusercontent.c...F_jJugokZqiN4Q

The advisory board put a map of the economic reform

The economic expert on behalf of that beautiful body of advisers to the prime minister will lead a major project of economic reform.
Jameel said in a statement (of the Agency news) on Sunday: "There is a large project will be led by the advisers will serve as a road map for economic reform, dealing with all projects in the state institutions. And added a beautiful project includes the rehabilitation of factories and the Ministry of Industry to implement the (192) project.

He pointed out that the beautiful plants industry, "suffers from weak production stops, and customizations in the past seven years, which led to the idea in the restructuring of these factories to make them vital and productive."

He called the lovely private sector involvement in these projects in collaboration with the Ministries of State.

He said nice to economic reform needed over five years to the advancement of new.

And the economic expert: Iraq has enormous wealth of oil and agricultural land needs on the minds of an enlightened and sophisticated ..

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

MP: activating the work of the factory will reduce the volume of unemployment in Iraq to 50%

Parliament called on the new government to activate the work of public and private factories to combat unemployment in the country, pointing out that the activation of work of the factory will reduce the volume of unemployment to 50%. The MP said that the beauty of watermelon "The new government should put in place an extensive plan to activate and run the government and private factories which have the ability to absorb thousands of unemployed."

He added that "activate the work of the factories will contribute to the activation of local production in the next stage, especially after doing the law of customs duties, which voted by the House of Representatives before." The Ministry of Planning earlier that the Federal service will not shorten the time of starting the functions of his unemployment in Iraq, but will organize the recruitment process in the country. and melons that "career system the government can not absorb all the Iraqis, but the plants can absorb more than 50% of the volume of unemployment in Iraq."

http://translate.googleusercontent.c...9-nbi2Cf4qmFOA

The central bank adviser: Iraq before a historic opportunity for economic growth

An official source at the Central Bank for the start actually, for the first time in Iraq, the introduction of clearing-mail between the Bank and the rest of Iraqi banks, while the source denied rumors of hearsay on the issuance of currency from the hundred-thousand dinars, stressing that the bank sought and within the monetary policy used to maintain economic stability to Iraq and access to a low level and moderate prices, which is contrary to the allegations of issuing cash that category ..

The chancellor said the Iraqi Central appearance of Mohammed Saleh during his speech for the (morning): that monetary policy aimed at managed during the last period of the reduction of inflation rates, substantial and concrete, especially that those rates were the lowest its figures when they arrived at around 3 per cent currently, a figure which he said him the benefit is calculated as an achievement of the monetary policy followed by the Central Bank of Iraq, noting that Iraq has not seen low rates of inflation over the previous years that inflation was included in the rates of wild ..

And Saleh, said that inflation base in Iraq has reached today, 3 percent, the lowest among the rest of the rates in Iraq in earlier times, which saw the rise scary exceeded the barrier of 25 percent, stressing that the security and economic stability a prominent role in raising the rates of development and growth of the country economically, which is which referred to him for saying: that stability is a great incubator for development and economic prosperity ..

He noted the benefit that the policy of the Central Bank of the future will work to achieve price stability in the overall level of prices in Iraq, especially as inflation began to retreat that was arranged to one decimal after it was expressed in the previous Paljameh, which will push Iraq to engage in an incubator economic reforms that achieve a more economic growth and prosperity that can be reflected positively on the rates of income and economic reality in general ..

And on the merits restructure the currency and the lifting of the zeroes denied the benefit of the determination of the Iraqi Central Bank to issue the category of new cash, adding that the process of lifting of the zeroes being planned by the Iraqi Central intersect and the allegations which he said was dilemmas media quoted inaccurately quoted the central bank earlier ..

The media sources earlier indicated the presence of intention to issue categories currency new class hundred dinars, which triggered the surprise and ire of observers who have warned of the dangers of such a step, stressing that the issue categories of cash bigger than the current would hinder efforts to reduce the rates of inflation and will lead to to raise prices ..

In the meantime, the Chancellor at the Central Bank to see the Iraqi dinar prosperous and recovery at the expense of the rest of the foreign currencies especially the dollar, adding that the policy of oil a very important role in enhancing the country's resources market during the coming period, which will, according to Saleh to make Iraq one of the countries leading power in the world, would double the income.

Country's financial and will therefore be of the dinar as far as Iraq, noting that such income would leave Iraq in front of a historic opportunity to raise the rates of economic growth ..

To detect the appearance of Mohammed Saleh CBE start to run the electronic clearing system for the first time in Iraq, saying that this system .

Will work to avoid cases of fraud that were felt by trading instruments in the past. Saleh pointed out that the six banks already started to follow the modern electronic system, and the rest of Iraqi banks will start work in the same order during the coming period ..

Saleh said that this system is a breakthrough technology in the world of big banks and sought by the Central Bank of years ago, indicating that the system is a settlement of the electronic instruments between the bank and the public, and then among the branches of banks and the central bank, which would eliminate all Forms of manipulation and fraud in the previous paper-based instruments, as well as being more transparent, according to Chancellor ..

http://www.alsabaah.com/ArticleShow.aspx?ID=603

Fugro About to Enter Iraqi Oil and Gas Industry

Fugro NV, the world’s largest surveyor of deepwater oil fields, is about to enter the Iraqi oil and gas business as oil majors are stepping up their exploration and production in the nation.

“The security situation is improving,” Chief Executive Officer Klaas Wester said in an interview in Amsterdam today. “We’re now working on getting a couple of contracts,” mostly in the southern part of Iraq.

Iraq, holder of the world’s fifth-largest oil reserves, wants foreign investors to help boost production of crude oil and natural gas. Oil output hovered around 2.4 million barrels a day since the 2003 U.S.-led attack that ousted the regime of President Saddam Hussein. The government has awarded 12 oil and three gas development contracts since the invasion.

Fugro, based in Leidschendam, Netherlands, gathers information about possible petroleum reservoirs under the sea floor in areas such as the Gulf of Mexico, the North Sea and Brazil.

http://www.bloomberg.com/news/2011-0...-update1-.html

KRG wants end to oil disputes with Baghdad
New Oil Minister calls KRG oil contracts "legal"

As a new Oil Minister takes office, hope is renewed that differences can be hashed out between Baghdad and the KRG.

The Kurdistan Regional Government looks forward to settling disputes over oil projects in the region, particularly as a new minister takes in office in Baghdad. The KRG needs Baghdad to recognize oil projects undertaken by foreign companies and also to pay the projects" costs so that Kurdistan's oil can be exported.

The two governments have gone head to head over the issue for years. The former Iraqi Oil Minister, Hussein al-Shahristani, deemed the contracts illegal and refused to pay the companies involved in the Region for their costs. Also, the companies were blacklisted by Baghdad.

The KRG has so far signed 37 oil contracts with 40 international oil firms to explore and develop oil fields. The KRG exported oil for the first time in June 2009; it stopped when the Iraqi government did not pay the companies their costs.

On December 24, 2010, new Iraqi Oil Minister Abdulkareem Luaibi told reporters in Egypt that the KRG contracts are legal, they "will recognize them," and oil export will resume "in days." Luaibi was in the former Cabinet as the deputy Minister of the Oil Ministry.

"Luaibi is a moderate man with whom we are optimistic and have confidence in," said Ali Hussein Balo, an adviser to the KRG Natural Resources Ministry. "We believe that he is willing to solve the issue, unlike his predecessor, who declared the contracts illegal and was a pro-central ruling system of the oil sector."

Balo, who was also the former chairman of the oil committee in the Iraqi Council of Representatives, added that beside Luaibi in office, who understands the need of the solution of the problem, the oil issue was brought up in the 19 demands the Kurds presented during the negotiations for government formation.

"We won't restart oil exports until they formally declare the contracts legal and repay the companies their costs. We want to see actions and implementations of claims," said Balu. He added that there is no deal between Baghdad and Erbil as the Iraqi minister had claimed.

"Maliki has agreed on the Kurdish demands as part of the government formation," said Muhammad Hussein, a political observer. "Therefore, we might see this issue and other issues like Peshmarga be resolved. Kurdish leverage was gained in the government formation."

Other problems arose recently within the same issue. In the Iraqi budget draft of 2011, an article stipulated that the KRG must export 150,000 barrels per day in 2011; otherwise, its 17-percent share of Iraqi revenue will be cut accordingly. A high delegation from the KRG visited Baghdad in December to delete this article, as the KRG is not able to restart export of oil.

The Kurdistan Region has an estimation of 40-45 billion barrels of oil and 100-200 cubic billion meters of gas. Only the Tawke and Taq-taq oil fields are currently ready to export 100,000 barrels per day, which, according to Ashti Hawrami, the KRG Minister of Natural Resources, will reach 150,000 barrels per day at the end of 2011.

http://www.kurdishglobe.net/display-...8AF6B8FE761438

Economist: the return of capital will encourage foreign investment

The economic expert on behalf of Creative Commons that the return of capital and Iraqi investors will work to bridge the investment gap.

Jameel said in an interview carried by the agency by news: "The interest of a return of capital and certificates of competence higher in the private sector will fill the blanks that were filled in by the capacity of a modest, stressing that this sends accurate signals to foreign capital which was to Aitmin to invest in Iraq".

He noted economic expert that "the owner of the capital looking for safe and easy access to the employment of his money and invested in Iraq, stressing the need to grant facilities to enable it to contribute to the reconstruction of the country."

The Central Bank of Iraq, said that most foreign companies large investment "wary of investing in Iraq because of the continued imposition of international sanctions on it."

And occupy the great importance of foreign investment to develop the economy of countries, especially after global openness and globalization that the world has undergone since it contributes to the transfer of modern technology to Iraq, what promotes the development of local production of goods and services and works to provide funds to support development.

He was a researcher in economic affairs said in an earlier statement that Iraq needs $ 700 billion for infrastructure development and this is moving towards foreign investment to enhance the opportunities for upward mobility, noting that the general budget (can not) alone coverage figures future development plans for the next five years, or even aid International ..

http://www.alsabaah.com/ArticleShow.aspx?ID=600

Experts in the economy: Iraq needs a new law to balance

The consensus among economists that the numbers which indicate its general budget is not based on criteria of financial or monetary, but are just random numbers used to the concerned authorities to arrange a year like this.

He said experts in a seminar organized by the Iraqi Institute of economic reform on the budget in 2011 - the need to make the budget a comprehensive vision for economic development of Iraq through research into the details of the doors of the budget.

He began the seminar, an economist, Dr. Mahdi Al-Hafiz bid for his paper tagged "budget and economic dimensions" and the effects of which several issues worthy of attention interjecting participants in the research content. Hafez He placed the draft budget for 2011 between the national needs and the random number starting point of the importance of the budget as a tool of policy financial and economic of the country and provides comprehensive vision of what government is seeking to achieve at all levels of economic and financial. Also touched on the challenges of growth and economic reform and the budget and development plan.

In view the central bank adviser d. The appearance of Mohammed Saleh and his paper tagged "preventive deficit in the federal budget for Iraq in the capacity of government spending and fitness dynamic popups.

The Dr. is full of Baldawi has made a paper titled law, "the budget in 2011: indicators and variables."

The paper was the Iraq Foundation for economic reform has titled the federal budget in 2011 to study and analyze. After that, the Secretary General of the Council of Ministers on the Keywords his speech about what to put the views and ideas, and was successful to clarify some confusion in some of the concepts of budget allocations while not moving away from his criticism of the budget law and the need to re-drafted.

A lot of discussion made by the leading economists in the country and questions the importance of balance in resolving the challenges faced by the economy as opportunities of work and services.

The workshop concluded to the need for a strict regulatory regime governing the budget and the following aspects of the exchange as is the case in all developed nations and the emphasis on the management of money a manner that achieves the objectives of the budget and the budget, but remain just random numbers are worthless.

http://www.alsabaah.com/ArticleShow.aspx?ID=655

Arab League chief says summit will confirm Iraq's return to leading role
Baghdad faces security and infrastructure challenges ahead of the March meeting

Insurgent threats and a lack of hotel space for delegations pose stiff challenges to Iraq’s plans to host for the first time in 20 years the annual Arab League meeting, despite assurances from the body’s leader Sunday.

In another development, Iraqi Shiite cleric Moqtada al-Sadr urged a sea of rapturous followers Saturday to resist all occupiers of Iraq and oppose the United States, but not necessarily with arms.

Iraq’s government is hoping the summit will showcase what Prime Minister Nuri al-Maliki has described as the nation’s improved security and pump foreign money into the local economy.

“We are seeking this summit because it will confirm Iraq’s return to its leading role, and that Iraq is an important Arab country,” Arab League Secretary General Amr Moussa said Sunday during a short speech before Iraq’s Parliament.

“The Arab League is concerned about Iraq now and in the future.” The government is spending hundreds of millions of dollars to rebuild palaces and hotels where thousands of delegates from the 22-nation group are expected to stay on the summit’s March 23 start.

This week, a militant Web site posted a message from insurgent group Ansar al-Islam threatening to attack the summit and any political or business officials associated with it.

“The meeting of the Arab tyrants in Baghdad is part of the American project for normalization relations with the U.S. government in Baghdad,” the Web site message said.

“Any Arab political or commercial official in Iraq will be a military target for Mujahideen.”

In an interview Sunday, Kuwait’s ambassador in Baghdad waved off the threat. He said the Emir of Kuwait, Sheikh Sabah al-Ahmad al-Sabah, would be attending the summit.

“Don’t listen to these guys,” Ali al-Mumin said of the threats. “We Arabs give God to everything, our fate is in God’s hands. If it is time for me to go, that is what will happen.”
Another concern is where the delegates – and the security officials and media traveling with them – will stay.

Khalid Hussain, managing director of the Palestine Hotel in Baghdad said the government estimated as many as 5,000 rooms would be needed to house entourages across the capital, while only 1,800 rooms will be available – assuming repairs proceed uninterrupted.

Construction crews are hard at work on the Palestine and Sheraton hotels in central Baghdad after both were severely damaged in a car bombing a year ago, although some guests have returned to the Palestine.

Hussain, the hotel’s manager, said the Iraqi government will spend more than $30 million to refurbish the Palestine, where the lobby is far from finished.

Most guest rooms won’t be ready until mid-February at the very earliest.

In his first speech since his homecoming Wednesday after years of self-imposed exile in Iran, Sadr burnished his anti-U.S. credentials and urged supporters to give Iraq’s new government a chance. “We are still fighters,” he said.

Sadr, whose Mehdi Army militia fought U.S. troops and was blamed for much of the sectarian slaughter that gripped Iraq, called on his followers to chant “No, no to America.”

He labeled the United States, Israel and Britain “common enemies,” and demanded that the Iraqi government, in which his movement will play a major role, honor a promise to end the U.S. occupation this year, as agreed.

Tens of thousands of people from across Iraq, standing for hours outside his house in the holy Shiite city of Najaf and carrying Iraqi flags and pictures of the black-turbaned cleric, enthusiastically greeted him

Sadr said occupiers should be resisted “by all means” but added that arms were for “people of weapons only”, a comment that seemed to endorse the authority of the army and the police and could calm fears of a return of the Mehdi Army.
The cleric, who fled Iraq in 2006 or 2007 after an arrest warrant was issued for him, told his supporters that they may carry out an act of resistance by opposing occupiers “in our hearts.”

http://www.dailystar.com.lb/article....#axzz1Aan3XLWD

Source dismisses Iraqi statements over Kurdistan oil contracts

A source from the Kurdistan Region's Ministry of Resources rejected the statements by both the Iraqi Oil Ministry's spokesman and the deputy Iraqi finance minister over the Region's oil contracts.

The source, preferring anonymity, told AKnews Friday his ministry has "evidence" against the statements by the two sides, however, without alluding to any.

'Asim Jihad, the spokesman for Iraqi oil ministry had said Jan.3 the dispute between the Kurdistan and Baghdad over Kurdistan oil contracts continues, describing the issue "the core of disagreements with the Iraqi capital."

The spokesman also stated should the talks over the contracts hit a deadlock; Iraqi parliament will be authorized to settle the difference.

Kurdistan has entered contract with a number of foreign oil companies to drill and pump its oil. However, when the Iraqi government declined to allot the companies compensation, the Region suspended its oil drilling and import until the issue is resolved.

The deputy Iraqi finance minister, Fadhil Nabi's statement over the contracts came in an interview with AKnews Jan.3. The Kurdish deputy by descent referred to an agreement between the Kurdistan Ministry of Resources and the Iraqi Oil Ministry. Under the agreement, the Iraqi Audition Office is authorized to inspection of the Kurdistan oil contracts, so that the Iraqi Finance Ministry allots the share of the oil companies in the Region.

Nabi also accused the Kurdish ministry for "disallowing for its oil contracts' inspection".

The source said the issue has passed the "media propaganda" stage, stepping into a phase where the Kurdistan Regional Presidency and the Iraqi Council of Ministers are looking into it.

The source criticized the Iraqi officials for making "contradictory statements, which will only complicate the situation further."

The Region officials maintain since the proceeds of Kurdistan oil import goes back to Baghdad; the Iraqi government has to reimburse the foreign oil firms in Kurdistan. Reports also suggest the Iraqi government have demanded Kurdistan to increase its oil production from 100,000 barrels per day (bpd) to 150,000 in order for the foreign oil companies to be paid by the Iraqi government.

http://www.zawya.com/story.cfm/sidZAWYA20110109060225