Archive for February 2, 2011

Approval of the recommendations of the protection of Iraqi funds intended to terminate outstanding commitments

Posted: February 2, 2011 in Iraqi Dinar/Politics
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A legal adviser reveals a mechanism to compensate Kuwait and the affected foreigners from the former regime

He attributed the Minister of State and government spokesman, Ali Dabbagh, the ratification of the recommendations of the Special Committee should establish a mechanism to ensure the protection of Iraqi funds, to ensure the fulfillment of international obligations, as announced a legal adviser to the Prime Minister that he will be presented to the UN Security Council in May next mechanisms to protect funds in international banks.

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Iraqi central bank says assured of independence

Posted: February 2, 2011 in Iraqi Dinar/Politics
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The head of Iraq’s central bank said on Tuesday he was not worried the bank’s independence may be compromised by a court ruling placing it under the cabinet, despite having warned Iraq’s overseas assets could be at risk.

The Iraqi supreme court last month ruled that several ostensibly independent institutions, including the central bank, the anti-corruption watchdog and the electoral agency, should be supervised by the cabinet, and not by parliament.

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IMF has changed, chief tells Asia

Posted: February 2, 2011 in Iraqi Dinar/Politics
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The IMF said Wednesday it had learned from its mistakes during the 1997-1998 Asian financial crisis and had undertaken reform to give the region’s countries a greater say in how the Fund is managed.

International Monetary Fund chief Dominique Strauss-Kahn said the Fund wanted a fresh start with Asia as he visited Indonesia, Southeast Asia’s biggest economy, and met President Susilo Bambang Yudhoyono.

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The Ministry of Oil update the system to increase the capacity to export oil

Posted: February 2, 2011 in Iraqi Dinar/Politics
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The media spokesman in the Iraqi Oil Ministry on Wednesday, 02/02/2011, that there is a misunderstanding between the Iraqi Oil Ministry and the Deputy Prime Minister for Energy, Hussein al-Shahristani, the issue of export of Iraqi oil.

“Asim Jihad told : that the ministry is updating the system to increase the capacity to export Iraqi oil, which will complement their readiness end of this year, and that to cope with the expected increase in oil production through licensing rounds, the first and second.

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Signs of a confrontation between al-Maliki and Nujaifi

Posted: February 2, 2011 in Iraqi Dinar/Politics
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President’s remarks opened the Iraqi parliament Osama Nujaifi Wednesday about the decision of the Federal Supreme Court of independent bodies to inflict the door of the confrontation with the government of Prime Minister Nuri al-Maliki at a time are still differences circle for the bags and the national security policy.

Nujaifi said during a press conference “There is a real threat to the Constitution and democracy in the latest court decision.”

“I do not say that we reject it, but there are a lot of vague ambiguity that needs clarification and explanation and request to reconsider the decision and interpreted in a manner consistent with the Constitution.”

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Shahristani: Iraq is finalizing an agreement with Shell for gas this month

Posted: February 2, 2011 in Iraqi Dinar/Politics
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Said Hussein al-Shahristani, Iraqi Deputy Prime Minister for Energy that Iraq will complete the multi-billion dollar deal with Shell and Mitsubishi of Japan to the imprisonment of gas from oil fields in Iraq this February.

Iraqi officials have said that the agreement was delayed for months because of legal problems.

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High-level Gulf official visit to Iraq on Thursday

Posted: February 2, 2011 in Iraqi Dinar/Politics
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Said the Iraqi Foreign Ministry official said a high-level Gulf official will visit Iraq

He predicted  statement singled out the Agency  on Wednesday: “to be visiting UAE Foreign Minister Sheikh Abdullah bin Zayed.

The source added: “The Minister Zebari held a press conference with the Minister, after their meeting with Prime Minister Nuri al-Maliki, President Jalal Talabani, and the number of Iraqi officials.

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Iraq urges approval of settlement for US victims

Posted: February 2, 2011 in Iraqi Dinar/Politics
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By SINAN SALAHEDDIN
The Associated Press
Wednesday, February 2, 2011; 11:24 AM

BAGHDAD — The Iraqi government called on parliament Wednesday to approve a $400 million settlement for Americans who claim they were abused by Saddam Hussein’s regime.

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Committee studies removing ration card in near future; Cash allowance may be alternative compensation

Posted: February 2, 2011 in Iraqi Dinar/Politics
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Economic Committee: We will reject raising the ration card for citizens

A member of the economic and investment commission in the House of Representatives member of a coalition of law Xiaa Abbas Hammoud said the committee would reject raising the ration card for citizens during the next stage unless they are given a cash allowance.

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Asian Currencies Advance, Led by Thai Baht, on Improving Export Outlook

Posted: February 2, 2011 in Iraqi Dinar/Politics
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VietFinanceNews.com – Asian currencies rose, led by the Philippine peso and India’s rupee, after reports showed manufacturing gains in the U.S. and Europe, boosting the regional export outlook.

U.S. manufacturing unexpectedly increased in January at the fastest pace in more than six years, reinforcing forecasts by the International Monetary Fund for a stronger recovery this year. A similar gauge in the euro region climbed to its highest level since April. Financial markets in China, Taiwan, South Korea and Vietnam are closed today and for the rest of the week for the Lunar New Year holidays.

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Yahoo/AFP: Iraq readies to protect overseas funds

Posted: February 2, 2011 in Iraqi Dinar/Politics
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Iraq is required to pay 5% of its oil income to Kuwait

BAGHDAD — Iraq has told its central bank to open accounts to transfer hundreds of millions of dollars out of a post-Gulf war US fund to protect the money from foreign claims, a government spokesman said on Wednesday.

The cabinet also asked MPs to approve a $400-million compensation package for US victims of toppled dictator Saddam Hussein, and set up a mechanism for UN-mandated war reparations to Kuwait, Ali al-Dabbagh said in a statement.

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Iraq expects investment to triple to $30 billion

Posted: February 2, 2011 in Iraqi Dinar/Politics
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Wednesday, February 02, 2011 11:58 GMT
Iraq expects private investment in its economy to triple to $30 billion this year with the acceleration of energy, agriculture and housing projects after a new government has been formed.

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Kurdish lawmaker: Budget will include the amendments in the Kurdistan oil export revenues

Posted: February 2, 2011 in Iraqi Dinar/Politics
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Deputy from the Kurdistan Alliance, Wednesday, that the financial budget of the Iraqi state for the current year 2011 will include in its amendments of income and benefits of oil exports from Iraq’s Kurdistan region, according to an agreement signed between the Government of the Region and the central government, while carrying the central government responsible for the delay budget after what the recent economic that have occurred.

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Budget returns to council to amend Thurs; Returns to Parliament 2 days later for reading, vote

Posted: February 2, 2011 in Iraqi Dinar/Politics
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Re-budget law of the Council of Ministers to amend

02/02/2011

Said two deputies from coalition Kurdish blocs on Tuesday that the House of Representatives will bring a draft budget law of public finances for the year 2011 to the Council of Ministers on Thursday in order to modify it.

The MPs said Burhan Mohammed Faraj and longings dry that «the meeting included the Minister of Finance Finance Committee in the presence of the President of the House of Representatives Osama Nujaifi yesterday resulted in agreement to return the budget to the Cabinet on Thursday to amend certain paragraphs, to be returned two days later to the Parliament for the purpose of reading and voting on them ».

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UPI: Oil moves planned for Iraq

Posted: February 2, 2011 in Iraqi Dinar/Politics
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BAGHDAD, Feb. 2 (UPI) — Iraqi and Japanese companies are in talks to expand oil export capacity from southern Iraqi ports, though there was no word on pending northern deliveries.

Iraq’s South Oil Co. and the Japan International Cooperation Agency are in talks on a contract to expand oil exports from around 2.2 million barrels per day to about 5.8 million bpd, the Platts news service reports.
Read more: http://www.upi.com/Science_News/Resource-Wars/2011/02/02/Oil-moves-planned-for-Iraq/UPI-93321296654574/#ixzz1CodSDtox

 

Iraq may approve two key gas deals in coming weeks

Posted: February 2, 2011 in Iraqi Dinar/Politics
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ISTANBUL (Reuters) – Iraq’s cabinet could approve contracts with foreign energy companies to develop the Siba and Mansuriyah gas fields next week or the week after that, a senior Oil Ministry official told Reuters on Wednesday.

Read more: http://bit.ly/eIyZSI

Bloomberg: Egypt Credit Risk Declines a Third Day, Trades Below Iraq’s

Posted: February 2, 2011 in Iraqi Dinar/Politics
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Egypt’s credit risk dropped for a third day after President Hosni Mubarak announced plans to step down in September, widening the gap with contracts for Iraq.

The cost of protecting Egyptian debt against default for five years with credit-default swaps fell 2 basis points, or 0.02 percentage points, to 339 today, according to prices from CMA, a data provider in London. Swaps on Iraq, which is recovering from the 2003 U.S.-led invasion, were at 342 today. Egypt became riskier than Iraq on Jan. 25, the first time in at least a year, as protesters denounced the North African country’s president.

Read more: http://bloom.bg/eqSmi1

 

Parliament on the likelihood of public interest and speed up to pass the budget

Posted: February 2, 2011 in Iraqi Dinar/Politics
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A member of the National Alliance Abd al-Hadi al-Hassani said “the budget of the most important laws which the parliament by passing it walked for economic and financial conditions for the government and this budget has a direct relationship with income of Iraqis.”

He said al-Hassani told the reporter (news agency, media / INA) that “the budget have a significant role in ending unemployment and improving financial conditions in the country and which will also be giving allocations to ministries and provincial councils to continue the construction and reconstruction and the promotion of reality service.”

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Iraq needs to quick fixes to guard against any popular revolt

Posted: February 2, 2011 in Iraqi Dinar/Politics
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A member of the House of Representatives for the Iraqi List, a decent slain Iraq needs to be fixed in all the tracks in anticipation of any popular revolution such as those in Tunisia or the ongoing in Egypt.

She slaves told the independent press (Iba) The Iraqi people desperately need to improve the reality and at all levels and any laxity or delay in the process of reform could lead to disaster for Aihamd consequences

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Shahristani announced the resumption of oil exports from Kurdistan

Posted: February 2, 2011 in Iraqi Dinar/Politics
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The Iraqi Deputy Prime Minister for Energy, Hussain al-Shahristani said on Wednesday the resumption of pumping oil from oil fields in Kurdistan region of Iraq after a hiatus of about 16 months due to differences between Erbil and Baghdad on the benefits of energy companies operating fields Territory .

Iraqi Oil Minister Hussain Al-Shahristani The region and began to export oil from its territory for the first time in its history in June of 2009, from the fields of “Taq rate of about 100 thousand barrels per day.

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Kurdistan, announces the imminent resumption of oil exports from the fields of the region

Posted: February 2, 2011 in Iraqi Dinar/Politics
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The Government of the Kurdistan region of Iraq, Wednesday, all efforts to resume the export of crude oil from fields in the region over the next few days, stressing that the companies operating in the region is currently experimental work in order to start pumping oil.

He said the Prime Minster Barham Saleh, said in an interview for a number of media, including “Alsumaria News”, on the sidelines of the Conference on Health held in Irbil that “the resumption of oil exports from Kurdistan will be over very soon”, without specifying dates.

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stability of the prices of food products and the currencies in the Iraqi markets today

Posted: February 2, 2011 in Iraqi Dinar/Politics
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Baghdad Chamber of Commerce announced today. Wednesday the movement of prices of products, foodstuffs, and local and imported goods displayed in the local markets and currencies.

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President of the Parliament, that all attempts to form a new federal court

Posted: February 2, 2011 in Iraqi Dinar/Politics
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Detection head of the Iraqi parliament, on Wednesday, the draft law for the formation of a new federal court, noting that the project need to political consensus, as he emphasized the need to support the independence of the judiciary.

Osama al-Najafi told a press conference held in Baghdad and attended “Alsumaria News”, “Parliament will, during the coming days, the draft law of the Federal Court and Supreme Judicial Council for reading and discussion, before voting on it,” asserting that “the Federal Court the new will in the coming period.”

The Nujaifi that “the formation of the new court will be under Article 92, 93 and 94 of the Iraqi Constitution,” adding that “those substances identified the features of this court and the composition and duty to interpret constitutional provisions and rule on the constitutionality of laws,” he says.

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Barzani is mediating to resolve the differences between Iraq and national levels on the National Council of the Supreme policies

Posted: February 2, 2011 in Iraqi Dinar/Politics
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Said the leadership of the Kurdistan Alliance Mahmoud Othman said Massoud Barzani, trying to resolve differences between the coalition and the Iraqi National Alliance by Rose Nuri Shaways

Osman said in a statement to the Agency by news Wednesday that the Kurdistan region President Massoud Barzani briefed the differences between the Coalition and Iraqi National Council on National Policy, as well as higher security ministries (Defense, Interior, and National Security)

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Parliament stresses the need to meet with Maliki, Allawi, to resolve outstanding issues

Posted: February 2, 2011 in Iraqi Dinar/Politics
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The member of the House of Representatives Kazem Shimeri to meet the existing Iraqi President Iyad Allawi, Prime Minister Nuri al-Maliki has become necessary to resolve the outstanding issues.

Al-Shammari said, told the independent press that the delay in naming ministers security must be resolved as quickly as possible, especially in light of the country from security incidents, indicating that the failure of the nomination of candidates if they were the security ministries or ministries vacant are not considered a problem as long as the formation of the bulk of the ministries.

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Sale price of Iraqi crude oil will rise dramatically over the next few days

Posted: February 2, 2011 in Iraqi Dinar/Politics
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Economists: Egypt’s political crisis will raise the price of Iraqi oil in the OPEC basket

The number of experts and analysts, Wednesday, at The Oil fell in Asian trade will raise the level of selling Iraqi oil in the OPEC basket.

He said economic analyst Ghalibi Abbas, told the Kurdish news agency (Rn) that “the sale price of Iraqi crude oil in the OPEC basket will rise dramatically over the next few days because of the political crisis in Egypt.”

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Iraq looking mechanisms for the protection of his property before the end of the mandate

Posted: February 2, 2011 in Iraqi Dinar/Politics
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The legal adviser to Iraqi Prime Minister Nuri al-Maliki on Wednesday, the government is considering mechanisms to protect Iraqi funds in international banks after the end of the UNODC mandate to protect them in the middle of this year.

Fadel said Hussein  today, said that “Iraq will be submitted through the Ministry of Foreign Affairs report to the UN Security Council in the first of May next includes mechanisms to protect funds in international banks,” noting that “the protection of Iraqi funds will expire in the middle of this year “.

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Iraq announces bank privatization reform

Posted: February 2, 2011 in Iraqi Dinar/Politics
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The Federal Government announces a plan to develop the work of government banks

The economic adviser in the Iraqi government, on Wednesday, that the government banks of the Ministry of Finance would be subject to an extensive reform process regarding the mechanisms for the development of its monetary and financial.

And the central bank, earlier this year that will see the financial restructuring of state banks after the successful development of its banking system during the last period.

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Iraq prepares for DFI exit strategy: Will transfer funds prior to May 1st

Posted: February 2, 2011 in Iraqi Dinar/Politics
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Baghdad has taken a series of new procedures for the protection of Iraq’s money abroad

Iraqi government decided to take a series of measures for the protection of Iraq’s money abroad through the implementation of its international obligations regarding the Gulf War reparations and open new accounts.

The Minister of State and government spokesman Ali al-Dabbagh said in a statement that the government decided during the meeting on Tuesday approved all the recommendations of the Special Committee should establish a mechanism to ensure the protection of Iraq’s money.

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Civil offices to pay the salaries of retirees b (smart card)

Posted: February 2, 2011 in Iraqi Dinar/Politics
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Prepare draft offices eligibility for the disbursement of pensions to various social strata of the categories of civilian, military and class network of social protection, social welfare and other groups, from the projects of the cultural aspects of the country and contributing to resolving the problem of generation of significant progress on the banks in the province of Diwaniyah.

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