Archive for August 29, 2011

Financial representative: the country’s economy will grow in the coming period

Posted: August 29, 2011 in Iraqi Dinar/Politics
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Iraqi dinar, Iraq moneyBaghdad, August 29 / August (Rn) – The Finance Committee in the Iraqi parliament said on Monday that the country’s economy will grow in the coming period as a result of the government’s decision to grant advances to staff (100) salary at interest rates low.

The Iraqi government represented by the Ministry of Finance has launched a project to grant advances to staff the value of (100) monthly salary that was partially recovered and interest rates low.

The government is seeking a project to find partial solutions to the housing crisis by advancing the country’s crises, which could not of successive governments to Iraq since 2003 until now.

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Iraq: the establishment of an economic city southeast of Baghdad

Posted: August 29, 2011 in Iraqi Dinar/Politics
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Baghdad, August 29 / August (Rn) – The Council of the province of Baghdad on Monday, he received official approval from the relevant government institutions to establish an economic city in the Nahrawan area southeast of the capital Baghdad, noting that the civil work to contain the market Shorja, and beautiful, and iron the existing in the heart of the capital.

And established the city of Nahrawan in 1988 and is near the city of cities, which contain the effects of Taq, after he distributed plots of land by the state at that time a number of citizens, with a population of nearly 15 thousand people, mostly employees working in the complex for tanning leather and a complex for the manufacture of bricks includes more 300 factory.

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Reuters Analysis: Iraqi bank sector ripe but reluctant for bids

Posted: August 29, 2011 in Iraqi Dinar/Politics
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(Reuters) – Foreign banks are hunting for stakes in private Iraqi banks as the sector appears ripe for investment and consolidation but local banks are reluctant to take partners, fearing a loss of control, banking officials say.

Iraq’s financial sector is considered fertile ground for investment as the war-shattered nation rebuilds its vast oilfields and battered infrastructure eight years after the U.S.-led invasion that toppled dictator Saddam Hussein.

But a poor credit culture, lack of a modern banking system and the dominance of state banks have slowed development.

Read More: 
http://www.reuters.com/article/2011/08/29/us-iraq-banks-idUSTRE77S3MU20110829

MEMRI: Kuwaitis, Iraqis In Verbal Skirmishes Over Construction Of Mubarak Port By Kuwait

Posted: August 29, 2011 in Iraqi Dinar/Politics
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Kuwaiti dailies reported yesterday of statements made by Kuwait’s deputy prime minister and foreign minister Sheikh Mohammad al-Sabah offering Iraq a choice between building a new Iraq free from international resolutions [the reference here is to UN sanctions on Iraq because of its invasion of Kuwait in 1990] or a return to Iraq of Saddam Hussein, namely an “Iraq of deceit, treachery and a threat to the regional peace.”

Answering a question about the construction of the controversial [in Iraqi eyes] Mubarak Port, al-Sabah said that Kuwait was proceeding in the construction of the port in conformity with the country’s “complete and absolute right.”

Read More: 
http://www.thememriblog.org/blog_personal/en/40364.htm

Saleh: Political forces are trying to delay economic advancement and deletion of zeros; Any delay would be wrong

Posted: August 29, 2011 in Iraqi Dinar/Politics
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CBI accused of sabotaging the political forces of the Iraqi economy
29/08/2011 13:53

Baghdad / Orr News
The Central Bank of Iraq and the existence of a hidden political forces did not identify to sabotage the economic reality and delay the project to delete the three zeroes.

The deputy governor of the Central Bank of the appearance of Mohammed Saleh said that “political forces behind the sabotage and delay the advancement of the economic reality of Iraq and the project to delete the three zeroes.”

He added that the “delay the project to delete the three zeroes from the Iraqi currency is very wrong and should speed up the process to delete the zeros for the advancement of the economic reality of Iraq.”

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UPI: Iraq reviews oil and natural gas law

Posted: August 29, 2011 in Iraqi Dinar/Politics
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BAGHDAD, Aug. 29 (UPI) — Iraqi leaders need to approve the draft oil and gas law because oil wealth is the “only source” available to rebuild the country, a Shiite lawmaker said.

The Iraqi Cabinet during the weekend approved a draft oil and natural gas law and passed it on to Parliament for endorsement. The agreement would trump existing laws governing the country’s oil and gas, a government spokesman said.
Read more: 
http://www.upi.com/Business_News/Energy-Resources/2011/08/29/Iraq-reviews-oil-and-natural-gas-law/UPI-93851314619662/#ixzz1WQAmyjUd

Financial Post: Big oil companies may have to give up Iraq gas

Posted: August 29, 2011 in Iraqi Dinar/Politics
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Many of the world’s biggest energy companies may have to surrender most of the gas from Iraq’s vast southern oilfields to a processing and export project led by Shell, a final draft contract between Baghdad and Europe’s biggest company, obtained by Reuters, shows.

Oil giants including Royal Dutch Shell, BP, U.S.-based Exxon, China’s CNPC, and Italy’s Eni signed technical service contracts to develop three oilfields in southern Iraq in 2009-2010.

But the oil deals to develop the Zubair, Rumaila and West Qurna 1 fields near Basra oblige the big oil contractors to surrender the gas they do not use for reinjection or power generation to Iraq’s state-run South Gas Co (SGC).

Read More: 
http://business.financialpost.com/2011/08/29/big-oil-companies-may-have-to-give-up-iraq-gas/

WSJ: Iraq Oil Ministry, Oil Companies To Meet In Jordan September 11

Posted: August 29, 2011 in Iraqi Dinar/Politics
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By Hassan Hafidh

Of DOW JONES NEWSWIRES

AMMAN (Dow Jones)–Iraq’s Oil Ministry will meet Sept. 11 representatives of 40 world energy firms bidding for long-term deals for 12 exploration blocks under service contracts, a senior Iraqi oil official said Monday.

Top Iraqi Oil Ministry officials will meet executives of these companies, representing 22 nationalities, in Amman’s Le Royal Hotel on Sept. 11 to discuss details of the blocks on offer as well as contract terms, Abdul-Mahdy al-Ameedi, head of the ministry’s Petroleum Contracts and Licensing Directorate, or PCLD, told Dow Jones Newswires.

Read More: 
http://online.wsj.com/article/BT-CO-20110829-703653.html

Deputy: Iraqi leaders resume their meeting at the home of Talabani after the Eid holiday

Posted: August 29, 2011 in Iraqi Dinar/Politics
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Arbil, 29 August / August (Rn) – The head of the Kurdistan Alliance bloc in the Iraqi Council of Representatives on Monday, is scheduled to resume Iraqi leaders meeting at the invitation of President Jalal Talabani at his home after Eid al-Fitr next, in order to end the political crisis in the country.

He told Fuad Masum, the Kurdish news agency (Rn) today, “is scheduled to hold a meeting of political leaders of the new home of Talabani and at his invitation after the Eid al-Fitr holiday, aimed at ending the political crisis and address the problems of the country.”

He said, “is scheduled to attend all political leaders in Iraq is expected to meet after the holiday, led by Prime Minister Nuri al-Maliki, the Iraqi leader Ayad Allawi.”

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Parliamentary money: the fiscal deficit will be offset from the budgets of ministries and agencies for the current year

Posted: August 29, 2011 in Iraqi Dinar/Politics
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29/08/2011 11:23

Baghdad, August 29 / August (Rn) – The Finance Committee in the Iraqi Council of Representatives, Monday, that the deficit in the current year budget will be exceeded by the money retained for the ministries and bodies at the end of this year, indicating that the ministries and agencies can not exchange all the money allocated to it within the budget for the year 2011.

A member of the Finance Committee Ibrahim al-Mutlaq told the Kurdish news agency (Rn), “The fiscal deficit in the current year budget will be paid through the money will revert to the state coffers of ministries, agencies and institutions that can not exchange its budget entirely through the year.”

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Parliamentary committee calls for increased exports to prevent the budget deficit

Posted: August 29, 2011 in Iraqi Dinar/Politics
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Commission asked for the economy and investment representative, to increase Iraq’s exports to prevent the deficit in the balance of trade.

The Committee member Abdul Hussain Alabtan in a press statement that the improvement of industrial and agricultural sectors and trade will increase exports from Iraq and that this would prevent the deficit in the balance of trade.

He continued by saying: if you note trade with Syria, Turkey and other countries which are increasing day by day with the deterioration of the economic sectors, as well as a big difference, especially after the Iraq has become a market for goods of others, “pointing at the same time that the oil sector is still an unfortunate comparison what it was before 2002, they totaled oil exports to (2.8) million barrels and now is not to exceed (2.2) and this is reflected negatively on the economy of the country. “

http://bit.ly/nZtDm9

Iraqi List: Prime minister will likely nominate Qutaiba Jubouri for the position of the Ministry of Defence

Posted: August 29, 2011 in Iraqi Dinar/Politics

Monday 29 August 2011

Confirmed a spokeswoman for the Iraqi List, the white high MP Nassif said the Prime Minister will deliver mass commander of the armed forces contain a request to nominate for the position of Qutaiba Jubouri the Ministry of Defence.

Nassif said in a statement to the news agency public opinion (and babysit) on Monday: “The Iraqi List, the white will be handed the prime minister’s request for the nomination of Qutaiba Jubouri for the white list for the position of the Ministry of Defense.”

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Maliki receives Melkert following end of tour in Iraq

Posted: August 29, 2011 in Iraqi Dinar/Politics
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BAGHDAD / Aswat al-Iraq: Iraqi Premier Nouri al-Maliki received today UN Secretary General Special Representative Ed Melkert following the end of his term of office in Iraq.

In a statement issued by the Prime Minister’s Office, as received by Aswat al-Iraq, Maliki thanked Mr.
Melkert for his efforts exerted in Iraq.

“Your work is the base for anyone who assumes your office,” Maliki said in the statement.

Melkert, according to the statement, invited Premier Maliki to visit the international organization in New York.”

http://bit.ly/opIbgN

Expert calls for finding a law regulating the work of Islamic banks in Iraq

Posted: August 29, 2011 in Iraqi Dinar/Politics
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Date: Monday, 29-08-11 10: 10 am

Baghdad (newsletter).The Economist called for a mock Majed special law regulating the work of Islamic banks because they differ from commercial they don’t give interest on sums deposited therein, emphasizing that commercial banks operate with the usurious and this is contrary to Islam.

Mock said in an interview with a reporter (News Agency news) Monday: there must be a special law regulating the work of Islamic banks, which have proliferated dramatically in Iraq, as is the case in some other Arab and Islamic countries because they differ from commercial banks operating through given by the usurious interest on deposits, while Islamic banks did not work for the purpose of obtaining the benefits but through Islamic action which provider participation and investment.

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CBI Daily Currency Auction for August 29, 2011: $183 million

Posted: August 29, 2011 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 29-AUG-2011. The results were as follows:

DETAILS NOTES
Number of banks 21
Auction price selling dinar / US$ 1170
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 183,036,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 183,036,000
Total offers for selling (US$) —–

Melkert sent a congratulatory message of Eid, and renews the commitment of the United Nations to help Iraq

Posted: August 29, 2011 in Iraqi Dinar/Politics
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Date: Mon 08/29/2011 13:38

Baghdad (news) .. new Special Representative of the Secretary-General of the United Nations in Iraq, Ad Melkert, United Nations commitment to help Iraq and its people in their quest for a better life for all Iraqis.

A statement issued by the United Nations received the Agency (news), a copy of it: that Melkert sent a congratulatory message to the Iraqi people on the occasion of Eid al-Fitr on behalf of the United Nations.

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Iraq: Members of congress urge calm when discussing Kuwait matters, stay away from provocative statements

Posted: August 29, 2011 in Iraqi Dinar/Politics
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Monday 29 August 2011
Congress: on Kuwait to stay away from provocative statements

Stressed by a number of Iraqi representatives in interviews on the need to adopt a peaceful and diplomatic solution in dealing with the issue of port and Mubarak stressed: that Iraq refuses to categorically reject military solutions and provocative statements, which strained relations between the two countries and harm the Iraqi people.

Have confirmed the high MP Nassif had already Kuwaitis that they provocations towards the Iraqi people, whether building a port or through their demands for compensation or seeking remains of the prisoners, noting that the goal is to keep Iraq under Chapter VII, as well as to show Iraq that still threatens international peace and security.

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Iraqi Cabinet approves and refers Oil and Gas Law (HCL) to Parliament for vote

Posted: August 29, 2011 in Iraqi Dinar/Politics
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8/28/2011 7:28 PM

BAGHDAD / Aswat al-Iraq: The Iraqi Cabinet approved today the draft Oil and Gas Law and referred it to the Parliament for endorsement.

In a statement by the government spokesman, the draft law shall be the only version, abrogating all previous ones.

Disputed arose when the Parliamentary Oil and Energy Commission submitted a proposal for the draft law in 17 August 2011, which led to the departure of National Alliance members from the session.

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