Thread: Archive News - Iraqi Dinar Think Tank - 08/09/09 - 09/01/10

Trade: the distribution of the ration card items fully in Maysan and Basra and Diyala

The company General for Trade of Foodstuffs under the Ministry of Commerce had distributed the ration card items complete and Diyala provinces of Maysan and Basra.

The general manager of the company Raad Faris diamonds in a press statement that the effective steps taken to provide items of the ration and distribution of one-time and the reallocation of material between the provinces to meet the shortage of some food vocabulary

http://www.radiodijla.com/cgi-bin/ne...?id=2009-10-01 08:07:12

Ministry of Commerce continues its efforts to Iraq's accession to the World Trade Organization

The Ministry of Commerce to create economic climates and conditions consistent WTO accession commitment to enact legislation such as legal and commercial policies and a comprehensive reform of the economy.

The Director of the Department of the World Trade Organization, Ministry of Commerce Tharwat Akram in a symposium held at the Ministry of Education that the legislation of laws on the negotiation process is still slow in most ministries.

Akram said that law-slow is not in the education sector only command that generates the impression that there is a bug in creating the appropriate atmosphere in any ministry, while it is generally experienced by the ministries.

http://www.radiodijla.com/cgi-bin/ne...?id=2009-10-01

Senior Economist: loan granted by the IMF to Iraq is sufficient to accomplish a number of important projects

An economic expert said that the loan granted by the International Monetary Fund to Iraq recently enough to accomplish a number of important infrastructure projects.

Dr. Said Abdel-Saheb Member of Iraqi economists told the independent press (Iba) said Friday that the last loan of $ 1.8 billion came to help Iraq to get out of the global downturn expected due to the repercussions of the global financial crisis, and as Iraq has been affected slightly, the government is called upon to accomplish important projects needed by the provinces in this period.

He added that the evidence for that is to express optimism that the fund improvements in the economy of Iraq, thanks to the improved security situation, which in turn impact positively on the oil sector, thanks to a fall in inflation during the previous months, a propellant to further development plans.

And Abdel-Saheb said the loan to Evrd new obligations on Iraq, such as loans, which imposed the previous conditions are codifying the fuel subsidies and ration card. He stressed on the necessity of commitment to programs to pave the economic growth in the near term.

It should be noted that the source in the Iraqi Central Bank said it expected the loan is disbursed on projects, and also reduce the large budget deficit, estimated at 19 billion dollars this year, pressure on the government to urge them to find new sources of funding.

And approaching the International Monetary Fund and Iraq to complete the deal of a standby loan of 5.4 billion dollars, payable in two installments over five years at an interest rate slightly more than 1%.

The IMF saw that the continued economic improvement in Iraq is linked to the improvement of security, and the recruitment of tight oil resources, and to take action to reform the economy.

Called "Takatoshi Kato," Deputy Managing Director, International Monetary Fund the Iraqi government to carry out structural reforms at a faster pace, including the measures to be updated management of public finance.

http://www.ipairaq.com/index.php?nam...onomy&id=15941

Iraq reveals the contracts for the installation of gas turbines

Revealed the Iraqi Ministry of Electricity plans on Thursday to offer contracts to local companies and foreign facilities for the installation of 24 gas turbines in the hopes to end the chronic disruption of electricity in the country by 2012.

Iraq and intensify its efforts to meet an acute shortage of electricity supply, a main complaint of many Iraqis with the decline in sectarian violence that has killed thousands of people and enjoy the country's best security conditions in several years.

Raad said the guard's deputy electricity minister in the city of Arbil, capital of Kurdistan province, he was happy to submit a plan of implementation of the plants to produce electricity.

He added, without disclosing the value of contracts that promises to provide all the support and facilities required.

According to comments by Iraqi officials are expected to total increase in energy 3870 MW.

After six and a half years of the US-led invasion of Iraq, is still suffering from lost power and low energy provided the population with a few hours of electricity per day.

Iraq has signed deals worth several billion dollars for the installation of gas turbines with General Electric Co and Siemens for 56 turbines from General Electric and 16 turbines from Siemens, the ministry says it will add a capacity of 12 thousand megawatts in the next few years.

The guard told Reuters he expected in the case of the completion of these projects - for the installation of 24 turbines - to be completed by the end of power cuts in 2011.

http://translate.googleusercontent.c...Ht88B_ZlPL8neQ

Kuwait MP calls for the transfer of compensation owed by Iraq to investment projects

Emphasized the former president of the Foreign Affairs Committee in the Kuwaiti National Assembly Jassem Al-Kharafi on the need to overcome the complications arising from the former regime's invasion of Kuwait in 1990.

He called the Falcon in a press statement transferred Office To transform the Kuwaiti reparations owed by Iraq to development projects and investment benefit the countries.

He pointed out that Iraq can not currently pay compensation, this "is not permissible for Kuwait to put more pressure on Iraq, but both can benefit from such compensation building development projects that benefit them.

Falcon and spoke for a number of investment projects that can be implemented in this framework, including the reclamation of the marshes and cleaning of the Shatt al-Arab and build a city of technology and medical city on the border between the two countries

http://al-iraqnews.net/new/arbiahhhh/36177.html

Investment companies Investment Authority, France visit Baghdad

Visited the high-level delegation representing several companies, France Investment Authority, Baghdad, to observe the reality investment in the province.

A security source in the body of the reporter Vice Baghdad governorate Mohammed al-Shammari and Chairman of the Shaker Aziz al-Musawi were at the head of the delegation, who expressed a future willingness of major French companies to invest in various projects offered by the investment firms to the delegation of investment opportunities and promising to provide all the necessary facilities to enable companies to implement projects as best as possible, referring to the that the recommendations of the Prime Minister has always stressed on providing the best facilities for investment companies that offer to invest in the capital.

The head of the delegation of French companies in the housing sector leads the projects open for investment capital they need to be more than one million housing units for the Eradication of the housing crisis

http://al-iraqnews.net/new/iconomi/36139.html

Ministry of Oil threaten China's oil company for inclusion in the blacklist

Ministry banned the Iraqi oil company, Sinopec, China's participation in the second round of bidding for major oil deals, to be held in Turkey.

The Deputy Director-General of the Department of contracts and licenses in the Ministry of Oil Abdul Mahdi al-Amidi told him correspondent, That Iraq had prevented the company listed to participate in the second round of bidding for major oil deals, because of its purchase of a Swiss oil company operating in the Kurdistan region, which face companies that signed contracts are rejected by the Ministry of Oil Decades and considers illegal. And threatened the oil ministry to include Sinopec's largest oil refinery in China on the black list to buy Addax Petroleum Corp...

http://al-iraqnews.net/new/local/36171.html

Update.......

Central Bank Governor: interest rates less than 7% very useful

Central Bank Governor Sinan Al-Shabibi: he wants to interest rates are lower than current levels. Shabibi said to Reuters on the sidelines of a meeting of the Governors of Arab central banks in Abu Dhabi "We would like to drop interest rates.

This is a hope. "Has been reduced by the CBI official interest rate to seven percent from nine percent last June with the decline in inflation thanks to falling oil prices from record highs above $ 147 reached last year. And the official interest rate in Iraq indicative of interest rates in banks rather than mechanism of direct cash because the banking sector there is limited and Rosal capital markets are undeveloped.

http://www.alsabaah.com/paper.php?so...page&sid=90757

Iraq and oil majors agree terms on oilfield project

Iraq and oil majors British Petroleum and China's CNPC International have agreed commercial terms for a joint venture to almost triple production at the giant Rumaila oilfield, a report said on Saturday. The signing of the deal for the 20-year venture, expected to cost 14-20 billion dollars, is expected to take place within weeks, Middle East Economic Survey (MEES) quoted officials as saying.

"We have more or less finished with the outstanding points. Hopefully, there will be a signing within a couple of weeks," deputy oil minister Abdulkareem al-Leaby told the newsletter after a meeting on Wednesday.

Final ratification of the Technical Service Contract will take a bit longer since the parties need to sort out technical and mechanical details of the contract, MEES quoted a source familiar with talks as saying.

MEES said Iraq state marketer SOMO will be allocated Baghdad's 25 percent stake, while BPB has cut its stake from 50 percent to 38 percent and CNPC has consequently boosted its participation from 25 percent to 37 percent. The joint venture is slated to boost production at the southern Rumaila field from the current one million barrels per day (bpd) to around 2.85 million bpd over the duration of the contract. The plan envisages adding 10 percent to production within a year and raising the field's output by 300,000-400,000 bpd within three to four years, according to MEES. Iraq's total current oil production is around 2.5 million bpd.

BP and CNPC were the only companies to win a bid out when Iraq offered eight contracts at a June auction. The companies agreed to receive only two dollars a barrel to operate Rumaila, which has known reserves of 17.7 billion barrels.

It is the first big upstream deal between Iraq and foreign oil majors since nationalisation of oil about four decades ago. The second round of bidding for Iraqi oil contracts is due in the first half of December, Oil Minister Hussein al-Shahristani said last month.

http://www.zawya.com/Story.cfm/sidAN...ield%20Project

Kuwaiti - Iraqi technical panel to meet Tuesday

The technical committee on Kuwaiti-Iraqi issues is scheduled to meet next Tuesday to discuss all the outstanding issues between the two governments, according to a senior Ministry of Foreign Affairs official.

Ambassador Khalid Mughamis, the ministry's director of Monitoring and Coordination, explained that the border demarcation between the two states have been finalized, adding that the marine borders are connected to the boundaries of the undersea continental shelf that lies between Kuwait, Iraq and Iran.

Mughamis also denied reports that the Iraqi government had stopped paying compensation for Kuwaiti properties confiscated by the previous Iraqi regime.

The ambassador also revealed that the UN Secretary General's High-Level Coordinator Genaddy Tarasov is scheduled to visit Kuwait tomorrow to discuss the issue of the remaining Kuwaiti detainees in the US's Guantanamo Bay detention facility.

Mughamis expressed optimism that the remaining prisoners there would soon be released, adding that Kuwait is currently awaiting the return of detainees Khalid Al-Mutairi and Fouad Al-Rabea, who have been released on the basis of a court order issued by the US federal government.

http://www.zawya.com/Story.cfm/sidZA...t%20Tuesday%20