Archive for July 28, 2011

Editorial: Kuwait and Iraq need joint ventures

Posted: July 28, 2011 in Iraqi Dinar/Politics
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A Kuwaiti guard is seen standing next to the security fence during a patrol on the Iraqi border

A Kuwaiti border guard is seen standing next to the security fence during a patrol on the border with Iraq in the desert north of Kuwait City.

New Iraq-Kuwait dispute should be seen in the context of existing political, economic and historical land border crises that have plagued the two countries since 1961

The GCC is not only well aware of the importance of investment in infrastructure and public works projects, but it has gained rich experience of developing these projects over the past few decades — one which is unparalelled when compared to other developing countries.

Not only have the six GCC states developed such projects at home, they have also contributed to the development of similar projects in other Arab states, where work has contributed to both positive development and job creation.

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Security Council extends UN mission in Iraq by another year

Posted: July 28, 2011 in Iraqi Dinar/Politics
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28 July 2011 – The Security Council today extended the mandate of the United Nations Assistance Mission for Iraq (UNAMI) for another year as it welcomed recent security improvements in the country but stressed the need for further progress on the humanitarian, human rights and political fronts.

In a resolution adopted unanimously, Council members agreed to continue the work of UNAMI for a period of 12 months, in line with the latest report of Secretary-General Ban Ki-moon on the work of the mission.

The resolution noted that Iraq’s security situation had improved “through concerted political and security efforts” and added that further advances will be made through meaningful political dialogue.

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Iraq fund manager sells Iraqi success story

Posted: July 28, 2011 in Iraqi Dinar/Politics
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21311782687062INVESTING in Iraqi banks is probably a better bet than investing in the UK’s embattled banking sector, according to Swedish fund manager FMG.

Henrik Kahm, the manager of FMG’s Iraq Fund, was in Glasgow yesterday on a mission to drum up investor interest in his fund, whose value has risen by more than 25% since it was launched in May last year.

However, Mr Kahm, who invests largely in blue-chip companies on the Iraq Stock Exchange, also warned that in spite of the potential for mouth-watering returns, obvious risks remain.

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Yahoo News: Kuwait gets $1.06 bn in Iraqi reparation; $19 billion remains

Posted: July 28, 2011 in Iraq: Chapter VII, Iraqi Dinar/Politics
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By AFP
GENEVA, July 28, 2011 (AFP) – The United Nations released $1.06 billion in Iraqi compensation to Kuwait on Thursday in the latest payment of a war reparation scheme that began in 1994.

The payment brings the total sum of compensation paid to Kuwait to $33.3 billion. A further $19 billion is due.

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Schedule Conflict: Maliki to address parliament Sat. on reducing GOI; Summit may be postponed once again

Posted: July 28, 2011 in Iraqi Dinar/Politics
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Maliki: postponement of a summit Saturday to discuss the government Limbering

Confirmed a coalition of state law, on Thursday, to postpone the meetings of leaders of blocs to be held next Saturday to the other time not specified, pointing out that the reasons for the delay is a concern for the blocks discussed Limbering government in parliament in the presence of Nuri al-Maliki.

Said Rep. Batoul Farouk in an interview (twilight) that “the agreement was to postpone the summit Saturday to another date due to the presence of the Prime Minister to Parliament on Saturday to discuss the government program and Limbering Ministers.”

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Iraq: House of Representatives will convene Saturday

Posted: July 28, 2011 in Iraqi Dinar/Politics
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Baghdad, July 28 (Rn) – Council lifted its Iraqi parliament Thursday to Saturday next after the vote has not to withhold confidence from the Electoral Commission and to discuss the government program.

And witnessed the meeting – chaired by the President of the Council Osama Najafi – the presence of the existing Iraqi President Iyad Allawi, and 240 deputies out of 325 deputies of the seats in the House of Representatives.

The decision of the House of Representatives Muhammad Al-Khalidi told the Kurdish news agency (Rn) that the meeting had to postpone a proposed rules of procedure of Parliament and vote on the members of the Committee of Article 140 of the disputed areas between Baghdad and Erbil.

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Can a currency union ever work?

Posted: July 28, 2011 in GCC, Iraqi Dinar/Politics
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Not long ago people were discussing the prospect of a GCC currency union based along the lines of the euro. But now that the very future of the Eurozone looks uncertain should a common currency for the GCC be abandoned completely?

To answer this question we need to define the perceived benefits of a common currency and then look at what went wrong with Europe and whether it was avoidable.

There are two main benefits of sharing a currency: the first is political and the second is economic. If a group of countries share a currency then you can assume those countries won’t go to war with each other.

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CBI Daily Currency Auction July 28, 2011:$ 173 million

Posted: July 28, 2011 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 28-JUL-2011. The results were as follows:

7/28/2011 2:14 PM

Note:  CBI’s website has not been updated as of 9:30 am EST to reflect this articles statement. 

BAGHDAD / Aswat al-Iraq: The Central Bank of Iraq (CBI) has sold 173 million U.S.

dollars in its auction to sell and buy foreign currencies on Thursday, based on 1,170 dinars per dollar, compared to Tuesday’s auction where sales reached 162 million dollars, according to the Bank’s daily bulletin.

“The total size of the demand on the U.S. dollar reached 173 millions and 295,000 dollars, covered by the CBI at a rate of 1,170 dinars per dollar,” the bulletin reported.

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Bloomberg: UN’s Iraq Mission Poised for Larger Role as U.S. Forces Withdraw

Posted: July 28, 2011 in Iraqi Dinar/Politics
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The United Nations is poised to play a larger role in Iraq’s economic development and political reconciliation as U.S. military forces withdraw.

The Security Council is scheduled to vote today to extend the UN mandate in Iraq for 12 months. UN officials say the coming year will see its mission restored from the crippling explosion of a 2003 terrorist attack in Baghdad, the worst in the world body’s history.

“There has been a strong feeling that there is a lot more we can do than we have been doing,” UN Under-Secretary-General Lynn Pascoe said in an interview after returning from a trip to Iraq last month. “We think that in this period we will be able to step up our efforts.”

 

Read More:  http://www.bloomberg.com/news/2011-07-28/un-s-iraq-mission-poised-for-larger-role-as-u-s-forces-withdraw.html

Economic Commission: Taxes reduce inflation, but has to be regulated by law

Posted: July 28, 2011 in Iraqi Dinar/Politics
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Baghdad (news) .. The Economic Commission parliamentary Iraq is a fluctuation in the rate of inflation, its economy, it is necessary to impose taxes on goods and goods, a sign that there is a law governing such taxes.

Where the Iraqi government announced that it has developed a plan to activate the taxes in the country to contribute to the persistence of inflation, the Iraqi economy.

The Member of the economy, investment and MP / Iraqi List / Nahida Daini told the reporter Agency (news) on Thursday: “There really is inflation in Iraq, it is necessary to impose taxes on traders and the entry of goods and commodities, but should be regulated the tax law so do not affect negatively on society, especially the poor. “

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Mahmoud Othman: Role of the United States in Iraq, UNAMI, starting to recede

Posted: July 28, 2011 in Iraq: Chapter VII, Iraqi Dinar/Politics
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28 / 07/2011

MP Mahmoud Othman, a member of the Iraqi parliament from the Kurdistan Alliance List, told the site “Khandan” that the role of the United States and the UN mission to Iraq, “UNAMI,” began to recede is no longer as it was in the past, in the time he was supposed to be their role more especially the UN mission in the Iraqi arena, especially as many of the problems of pregnant and crises that threaten his future, whether internal or external with neighboring countries.

He said Dr Mahmoud Othman, said the attention of the United States in Iraq, UNAMI, he seems to say, Undo, and this is due to the lack of willingness to indulge in the Iraqi crisis is deeper and only a consultative role they wield far.

http://bit.ly/oMsn8Y

AP: UN pays out $1 billion from Iraqi oil fund to compensate victims

Posted: July 28, 2011 in Iraqi Dinar/Politics
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Image representing Associated Press as depicte...

Associated Press

The Associated Press
Posted: 07/28/2011

GENEVA—A U.N. panel has approved more than $1 billion in compensation payments for victims of Iraq’s 1990 invasion of Kuwait.

The U.N. Compensation Commission says the money will go to five companies and four government or international bodies. It did not disclose the identities of the claimants Thursday but said all are in Kuwait

Read more:  http://www.mercurynews.com/breaking-news/ci_18566130?nclick_check=1

UNSC Meeting Details: UN Security Council Agenda for July 28, 2011

Posted: July 28, 2011 in Iraq: Chapter VII, Iraqi Dinar/Politics
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MEDIA ALERT – Thursday, 28 July 2011 (Subject to change)

Time (est)

 Location Assignment Details
10:00 am GA Hall GA Plenary meeting:  Social development, including questions relating to the world social situation and to youth, ageing, disabled persons and the family: High-level meeting on Youth(UN TV, UN PHOTO, INTERNATIONAL MEDIA,WEBCAST)
10:00 am Security Council Chamber, GA-TSC-01

Security Council Meeting:

The situation concerning Iraq

Third report of the Secretary-General pursuant to paragraph 6 of resolution 1936 (2010) (S/2011/435)

WATCH LIVE: WEBCAST LINK TUNE TO CHANNEL 4
Following the above meeting Security Council Chamber, GA-TSC-01

Security Council Meeting:

The situation concerning Libya

(UNTV/PHOTO, INTERNATIONAL MEDIA, WEBCAST)
Following the above meeting Security Council Consultations Room GA-TSC-02

Security Council Consultations

- Libya
- DPA briefing
12:00 pm Dag Hamm. Auditorium Noon Briefing: by the Spokesperson of the Secretary-General.(UN TV, UN PHOTO, INTERNATIONAL MEDIA,WEBCAST)
03:00 pm Security Council Consultations Room, GA-TSC-02

Security Council Consultations

- Sudan
- UNMIK
03:00 pm GA Hall GA Plenary meeting:  -Follow-up to the outcome of the Millennium Summit: draft decision (A/65/L.88); -Social development, including questions relating to the world social situation and to youth, ageing, disabled persons and the family: High-level Meeting on Youth.(UN TV, UN PHOTO, INTERNATIONAL MEDIA,WEBCAST)
3:30 pm NLB CR-6 Closing session of the 9th Annual Heads of Military Components Conference (HOMCC) 2011Remarks by the Secretary-General(UNTV/PHOTO, INTERNATIONAL MEDIA, WEBCAST)
4:30 pm NLB-0300 Photo Opportunity:  The Secretary-General with H.E. Mr. Vuk Jeremic, Minister for Foreign Affairs of Serbia(UNTV/PHOTO, INTERNATIONAL MEDIA, WEBCAST)http://wp.me/pZC7o-9xK

Legal Analyst: Kuwait port has become complex; Ball is now in the court of the UN Security Council

Posted: July 28, 2011 in Iraq: Chapter VII, Iraqi Dinar/Politics
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Thursday July 28, 2011

BAGHDAD – Mohammed Abdalhassan – Description of the legal expert Tareq Harb said Thursday the cause of building the port of Kuwait Mubarak as the issue has become very complex, indicating that the ball is now in the court of the Security Council.

He said the war in a statement to the news agency public opinion (and babysit): The UN Security Council had passed an unjust decision against Iraq at the time of the tyrant Saddam, a resolution 833 in 1993 to demarcate the border, deducting the territory of Iraq and give it to Kuwait on the Kuwaiti documents invalid as not provided the former regime of any objection to that.

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GOI begins implementing a program to develop the financial management of the budget

Posted: July 28, 2011 in Iraqi Dinar/Politics
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BankBaghdad, July 28 (Rn) – The adviser in the Iraqi government said on Thursday that the Cabinet decided to initiate work to develop the financial management of the number of solid financial budget in tune with the changes in the Iraqi economy.

Salam al-Quraishi, a Kurdish news agency (Rn) that “the Iraqi government will coordinate with the International Monetary Fund to develop the capacity of the Ministry of Finance to develop investment projects, and develop the formulation of the general budget of the country through the training of personnel working in the ministry according to the latest updates of international.”

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Iraq lacked a long-term planning

Posted: July 28, 2011 in Iraqi Dinar/Politics
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28/07/2011

Issued and the Iraqi Ministry of Planning, in cooperation with the United Nations, its first national report since 2003 about the state of the population, pointing out that the population will reach 64 million by the year 2030, which means that there is an urgent need to redouble their various resources to meet their needs .

The report and a large imbalance in the balance between population and available natural resources, and the disparity in the sex composition, as a sign of the demographic balance, from one period to another and from one province to another, depending on factors internal and external migration and the physical setting of the population that determines the size of the manpower and composition on the basis of levels spending, saving and consumption patterns of goods and services .

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Iraqi economists analyze the implications of U.S. indebtedness

Posted: July 28, 2011 in Iraqi Dinar/Politics
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The New York Stock ExchangeRaises the worsening debt crisis of U.S. government that over 14 trillion dollars and the consequences of an impaired ability to pay raise interest economists Iraqis about the possible negative impact on the local economy.

In his analysis of these implications, said adviser to the CBI the appearance of Mohammed Saleh told Radio Free Iraq that “the occurrence of Iraq within the area dollar, which constitutes 87% of the volume of trade payments and more than 60% of the total cash reserves of the countries 99% of the value of Iraqi imports from the sale of crude oil, “which is its market mainly on the calendar sales prices of crude oil in dollars,” makes the national economy in the blown Wind any economic crisis plaguing the U.S. currency. ” He added that the rise in the total size of the debt of U.S. government to close to the total size of the gross domestic U.S. public and $ 15 trillion dollars a year “would be very difficult to addressing the debt if it is almost impossible,” as he put it.

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Allawi: Talabani told me good news for resolving the crisis with the state of the law, but ..

Posted: July 28, 2011 in Iraqi Dinar/Politics
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eeeeeeeeeeeeeeePosted 28/07/2011 07:30 AM

Baghdad (where): confirmed Existing Iraqi President Iyad Allawi said, “President Jalal Talabani News induce him Very good for resolving the crisis between Iraq and the rule of law “. Said Told all of Iraq [where] “Despite this news, but I did not see anything positive Up to now, but on the contrary became news I hear is that he made ​​me President of the Republic Who trust him absolute confidence “. “The real problem is not between Iraq and the rule of law but with the government of national partnership and the partnership of strategic political decision.”

He explained that “our real problem started when we agreed, and gave away our rights to vote and the subject of partnership and commitment to partnership government and partnership in the political decision,” adding, “We got into the ministry as a token of sincere intentions to reach a true partnership.”

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A bill to restore the Iraqi funds

Posted: July 28, 2011 in Iraqi Dinar/Politics
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27.07.2011

Revealed the source of the Finance Committee of the Iraqi Council of Representatives that the committee will be presented to the Council shortly bill creation of a special fund for the restoration of Iraqi funds, which accounted for people or companies illegally either during the reign of former or after the year 2003.

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Legal Analyst Opinion: Kuwait plays a role in a major plot to keep Iraq under Chapter VII

Posted: July 28, 2011 in Iraq: Chapter VII, Iraqi Dinar/Politics
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Legal expert said Mohammed al-Samarrai The United States and binding according to the security agreement the liberation of Iraq from Chapter VII and enable him to regain full sovereignty, adding that recent May be in breach of this agreement, but we see them neglect is clear for everything related to Iraq’s sovereignty.

Samarrai said in a statement to the reporter that the political scene today is full implications of which about an major the most important issue of the port of Mubarak Al-Kabeer and repeat the excesses of Kuwait on Iraq ..

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Maliki told VP Biden decision on US forces will be discussed at Saturday summit

Posted: July 28, 2011 in Iraqi Dinar/Politics
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Maliki Biden: resolution of the American presence in the House of Representatives and the summit Saturday

Iraqi Prime Minister Nuri al-Maliki, on Thursday, to extend the survival of American power after 2011 will be determined by whether or not the decision of the Iraqi Council of Representatives, likely out at the same time the leaders of political blocs, decision in this regard at a meeting next Saturday.

A statement issued by the Office of the Prime Minister received (Twilight) a copy of the “al-Maliki discussed with Vice President Joe Biden, in a telephone call, the latest political developments in Iraq, questions on the subject of withdrawal of U.S. troops at the end of this year, according to the agreement to withdraw forces.”

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Parliament convenes today

Posted: July 28, 2011 in Iraqi Dinar/Politics
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Parliament held its Allawi, the presence of the 14 and 245 deputies

The Council of Representatives, Thursday, its 14-year legislative second, headed by Osama Najafi and the presence of the leader of the Iraqi List, Iyad Allawi, and 245 deputies, with parliamentary source that the meeting will vote on the three laws notably the exemption of the Electoral Commission for elections and discuss the government program and the first and second readings of a number laws.

The source said in an interview for “Alsumaria News”, “The Iraqi Council of Representatives held this morning, its 14-year second legislative headed by Osama Najafi and the presence of the leader of the Iraqi List, Iyad Allawi, and 245 deputies,” noting that “the meeting will vote to exempt the President and members of Council of the Electoral Commission for elections and for the members of the Article 140, and the proposed rules of procedure of Parliament. “

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The Kuwaiti government “surprised” by the Iraqi request and confirm the continued work in the port project

Posted: July 28, 2011 in Iraqi Dinar/Politics
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27/07/2011 20:28

BAGHDAD / Aswat al-Iraq: Kuwaiti government confirmed today, Wednesday, continuing to implement a project called the port of Mubarak Al-Kabeer and that “any statements would not be intimidated,” expressing “surprise” of the Iraqi request to stop work on the project.

It quoted the Kuwaiti news agency KUNA on the government spokesman and Minister of State for Cabinet Affairs Ali Al-Rashed confirmed the continuation of the State of Kuwait in the implementation of the port of Mubarak the Great, “I will not intimidate us any comments” on the back of a claim the Iraqi government to stop work at the port.

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Reuters: Iraq’s car factory shows road ahead for industry

Posted: July 28, 2011 in Iraqi Dinar/Politics
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Scania R 420

Scania R 420

ISKANDARIYA, Iraq, July 28 (Reuters) – - In a country only slowly recovering from the impact of war and economic sanctions, Iraq’s state-owned car assembly plant is a hive of activity.

Workers bustle around, fixing tyres and bumpers on to trucks. The sprawling plant in the town of Iskandariya, 40 km (25 miles) south of Baghdad, is filled with brand new vehicles.

It has contracts with Scania, Mercedes-Benz and Renault, and has also linked up with China and Iran, importing car parts from those countries to be assembled in Iraq where China’s Chery, as well as Toyota and BMW, are popular brands.

Read more: http://www.reuters.com/article/2011/07/28/iraq-factories-idUSLDE76N01I20110728