Thread: Iraq/Dinar News up until March 28th 8PM CT.

Originally Posted by bluedangle

Got to luv it..................... even "doomdays" rumors
There should be a "I just like to talk about negative things section.

I looked back through today's /last night's posts--didn't see these articles...apologies if it's already been posted!

Linking Kirkuk to Kurdistan cities by a modern telephone network
Translated by IRAQdirectory.com - [23/03/2007]

Head of the General Telecommunications Department in Kirkuk said that the cadres started to implement a project to link the city with the provinces of Kurdistan region by a sophisticated telephone network which is the first of its kind in the whole northern regions.

Chief Engineer, Adel Abdullah, said: “a few days ago the engineering and technical cadres in the General Telecommunications Department in Kirkuk began working to link it to the provinces of Kurdistan by a modern telephone network".

He explained that the link will be through "an optical cable extends from Kirkuk to Sulaymaniyah", adding that this line "will link the cities of the northern provinces to Kurdistan cities, and then link all Iraqi governorates by an advanced optical communication network that will contribute to the provision of quick telecommunications service to citizens in the country".

Abdullah added, "the new service will contribute in the expansion of the number of telephone exchanges in the city of Kirkuk, through the introduction of new departments ... Thus increasing the number of telephone lines that will be available to citizens".

In Kirkuk lives a Kurdish majority demanding the annexation of the city to the three current provinces of Kurdistan region (Sulaymaniyah, Irbil and Dohuk), and the deportation of the Arab population who were resided in Kirkuk by the former Iraqi regime.

While the Arabs and Turkomans who live in the city are rejecting this orientation, and demanding to maintain the current status, which makes Kirkuk a symbol of coexistence between the various nationalities in Iraq.

http://www.iraqdirectory.com/DisplayNews.aspx?id=3471

Progress...you gotta love it!

Low inflation index for consumer basket in Iraq during February
Translated by IRAQdirectory.com - [23/03/2007]

The Central Agency for Statistics and Information Technology in Iraq said that the inflation index in the consumer basket prices declined in the month of February compared to last January.

A report of the Office affiliated to the Ministry of Planning, based on the field data on the prices of goods and services that make up the consumer basket in retail prices in selected markets in Baghdad and other governorates have indicated lower inflation index for the month of February 2007 compared to January 2007, as well as reflecting the general standard figure for consumer prices which rose by 6.8 %.

The report explained that the decrease was the result of the decline in the index totals for the following commodities (food, tobacco, beverages, clothes, fabrics, footwear, furniture, lighting, fuel, medical services and medicines), note that "the spending for this group is 41.2 % of total domestic consumer spending.

As for the group of (Transport and Communications, miscellaneous goods and services, rent), which represent 58.8 % of the total domestic expenditure has recorded a rise during the month of February compared to the previous month.

The annual inflation index rose during the period from February 2006 until February 2007 by 37.1 % as a result of the rise in the index for all commodity groups (food, tobacco, beverages, fabrics, clothing and footwear, furniture, fuel and lighting, transport and communication, medical services, medicines, miscellaneous goods and services and rent).

It is noteworthy that Iraq has recently taken a series of measures to reduce the inflation rate including raising the Iraqi dinar exchange rate against the dollar to 1280 dinars to the dollar after being 1480 dinars last October.

http://www.iraqdirectory.com/DisplayNews.aspx?id=347


Anybody care to comment on the significance of all this? I've read (okay, skimmed) this article twice, but I'm just not getting it...

I know this has been posted before, but check out that first paragraph..I don't think I've really seen that jubulient tone before...

Turkish - Iraqi Business Council Meeting In Istanbul
Turkish Press - [23/03/2007]

Thanks to new investment law in Iraq, all foreign investors will be exempted from all taxes and customs for 10 or 15 years on the condition that they have Iraqi shareholders, said Iraqi Deputy Planning Minister Faik Abdul Rasool who delivered a speech at Turkish-Iraqi Business Council meeting in Istanbul.
Rasool said that newly established National Investment Commission was directly connected with Prime Ministry to create a rapid and effective decision-making process, thus, all procedures can be completed within 4-5 days.

He noted that they provide some privileges to foreign investors in all sectors except oil, banking and insurance sectors.

Rasool said that Iraq needs high amount of investments in the aspect of infrastructure, adding that they need 18 billion USD of investments for infrastructure for the next 5 years. (How much is that in Dinars??) He said that 1.5 million houses must be built in Iraq.

Rasool said that no production bases remained in Iraq, adding that the country is open to foreign investors.

On the other hand, Turkish-Iraqi Business Council deputy chairman Mehmet Habbab said that the trade volume which was 7 billion USD in 2004 between Turkey and Iraq dropped to 2.8 billion USD in 2006.

http://www.iraqdirectory.com/DisplayNews.aspx?id=3469

Kuwaiti diplomat underscores committment to Iraq''s re-construction process
Kuna - [22/03/2007]

Kuwait's Ambassador to Turkey Abdullah Thuwaikh on Tuesday underscored the significance of the 5th Iraq International Conference of Donor Countries which is currently held here.

Thuwaikh, who leads Kuwait's delegation to the conference, told KUNA that Kuwait was always keen on participating in such events, noting that Kuwait has presented a USD 1.5 billion of cash in support of Iraq and that there is USD 500 million more for the reconstruction of Iraq to be executed in cooperation with the Iraqi government.

He said Kuwait was awaiting reconstruction plans to be presented by the Iraqi government to be executed in cooperation with the Kuwait development fund.

During the Iraq donors conference, representatives of the participating countries reviewed achievements made during the past meetings.

Iraq is expected to represent its priorities to participating nations, Iraqi Minister of Development Ali Baban said in press statements, wishing that donor countries would commit to assisting the Iraqi people.

The International Fund for the Reconstruction of Iraq has been set up in 2004 under the United Nations and World Bank leadership, It groups 19 countries including the United States, Japan and Canada.

http://www.iraqdirectory.com/DisplayNews.aspx?id=3467

Originally Posted by ordinaryseawoman

I know this has been posted before, but check out that first paragraph..I don't think I've really seen that jubulient tone before...

Turkish - Iraqi Business Council Meeting In Istanbul
Turkish Press - [23/03/2007]

Thanks to new investment law in Iraq, all foreign investors will be exempted from all taxes and customs for 10 or 15 years on the condition that they have Iraqi shareholders, said Iraqi Deputy Planning Minister Faik Abdul Rasool who delivered a speech at Turkish-Iraqi Business Council meeting in Istanbul.
Rasool said that newly established National Investment Commission was directly connected with Prime Ministry to create a rapid and effective decision-making process, thus, all procedures can be completed within 4-5 days.

He noted that they provide some privileges to foreign investors in all sectors except oil, banking and insurance sectors.

Rasool said that Iraq needs high amount of investments in the aspect of infrastructure, adding that they need 18 billion USD of investments for infrastructure for the next 5 years. (How much is that in Dinars??) He said that 1.5 million houses must be built in Iraq.

Rasool said that no production bases remained in Iraq, adding that the country is open to foreign investors.

On the other hand, Turkish-Iraqi Business Council deputy chairman Mehmet Habbab said that the trade volume which was 7 billion USD in 2004 between Turkey and Iraq dropped to 2.8 billion USD in 2006.

http://www.iraqdirectory.com/DisplayNews.aspx?id=3469

THATS RIGHT FOLKS, STEP RIGHT UP AND GET YOURSELF SOME OF THIS IRAQI INVESTMENT!!!
ITS NEW, ITS PROFITABLE, AND ITS QUICK!!!
NOW HONORING ALL FOREIGN INVESTMENT PROJECTS!!!(except oil, banking and insurance sectors)
COME ONE COME ALL!!!!!

Amending the investment agreement of Al-Ahdab field
Translated by IRAQdirectory.com - [22/03/2007]

Spokesman of the Iraqi Ministry of Oil, Asim Jihad, said that the contract concluded by Iraq with China to invest Al-Ahdab field in the province of Wasit, will be reviewed to suit their interests. He added that all technical and material aspects will be reviewed because of the different oil prices and profit tax calculation that did not exist, and approved by the new Iraqi oil and gas law, pointing out that the contract was signed before the fall of the former regime in 2003.

Jihad explained that the two sides agreed to drill wells in Al-Ahdab field horizontally rather than vertically as had been agreed previously, on condition that drilling operations does not affect on the agricultural lands located near the field. He pointed out that the ministry would abide with the Chinese side to implement this contract and no competitor will enter the investment operations except in case the two sides failed to reach a final agreement.
So, the South Oil Company began to set up a new plant at the capacity of 100 thousand barrels a day at Majnoon oil field located at Annashwa area within Badr district in the direction of the Iranian border.

The project manager, Chief Engineer Mahmoud Abbas, said that supplying the new equipment for the South Oil Company ended last year, according to a former contract with the Italian company (Brojti); processed metal sheet were sent to Addora labs in Baghdad to manufacture 15 buffers delivered at the beginning of this year. He is currently working, under instructions of the general manager of the South Oil Company engineer Jabbar Ali Allaibi, on setting up pumps and heat exchangers.

http://www.iraqdirectory.com/DisplayNews.aspx?id=3464

Umm...this really sounds like they are done with the foreplay...

Originally Posted by ordinaryseawoman

Amending the investment agreement of Al-Ahdab field
Translated by IRAQdirectory.com - [22/03/2007]

Spokesman of the Iraqi Ministry of Oil, Asim Jihad, said that the contract concluded by Iraq with China to invest Al-Ahdab field in the province of Wasit, will be reviewed to suit their interests. He added that all technical and material aspects will be reviewed because of the different oil prices and profit tax calculation that did not exist, and approved by the new Iraqi oil and gas law, pointing out that the contract was signed before the fall of the former regime in 2003.

Jihad explained that the two sides agreed to drill wells in Al-Ahdab field horizontally rather than vertically as had been agreed previously, on condition that drilling operations does not affect on the agricultural lands located near the field. He pointed out that the ministry would abide with the Chinese side to implement this contract and no competitor will enter the investment operations except in case the two sides failed to reach a final agreement.
So, the South Oil Company began to set up a new plant at the capacity of 100 thousand barrels a day at Majnoon oil field located at Annashwa area within Badr district in the direction of the Iranian border.

The project manager, Chief Engineer Mahmoud Abbas, said that supplying the new equipment for the South Oil Company ended last year, according to a former contract with the Italian company (Brojti); processed metal sheet were sent to Addora labs in Baghdad to manufacture 15 buffers delivered at the beginning of this year. He is currently working, under instructions of the general manager of the South Oil Company engineer Jabbar Ali Allaibi, on setting up pumps and heat exchangers.

http://www.iraqdirectory.com/DisplayNews.aspx?id=3464

Umm...this really sounds like they are done with the foreplay...

oh yeah, i would say the t's are crossed and i's dotted from this report.

http://www.imf.org/External/NP/LOI/2007/irq/022307.pdf

date is in feb but it just came out from an imf emailer.

The oil and gas law is the center of the Symposium
Translated by IRAQdirectory.com - [23/03/2007]

Al-Rashid Hotel in Baghdad hosted this week a symposium held by the “Iraqi Center for Economic Reform” to discuss the new draft law of oil and gas, which (should say with?) interested experts and all those concerned and which takes into account several aspects relating to encouraging the use of modern technology through attracting international oil companies and the equitable distribution of oil revenues among regions, as well as strengthen the resources of the Iraqi State and provide the necessary finance for the comprehensive development activity in the country.

Iraqi Oil Minister, Hussein Shahrastani, said in the symposium that this “law is a breakthrough for all Iraqis, because of its positive, important and decisive impact on the fabric of national unity”, adding that the law was concerned with the interests of Iraq first and all its articles are based on national considerations, and that its most positive aspect is restoring life to “the national Oil Company“ allocating the greatest productive Iraqi fields to it, in addition to the fields near the current production contracts, amounting to nearly 40 gas fields. Shahrastani also pointed out to another article of the law, which states that all oil revenues, regardless of their sources, will come to one federal fund and then distributed to all Iraqis, regardless of the region in which they are located.

On his part, the Minister of Labor and Social Affairs, Sheikh Mahmoud Radi, said that the law practically contains several positives; mainly the formation of “the oil revenues fund” which brings in all oil revenues to the one fund supervised by the Ministry of Finance, in addition to setting up the law of the “future fund” which stores funds for future generations and does not allow the use of all funds for the benefit of the present generation.

Iraqi Central Bank governor, Sinan Shabibi, said that the new law is important and will accelerate oil production in a way that guarantees the interests of the people and works to strengthen the national economy. He emphasized that the law needs a deeper reading and greater effort, because there are issues that need detailed definition. However, he explained that it was agreed on the general lines of the law and how to contract, and that the law takes into account the interests of the various regions.

Kamal Al-Basri, economic advisor of the Iraqi prime minister, said that the Center will hold similar symposia to view the importance of law and the need to learn the views of the largest number of specialists, pointing out that the oil issue concerns all generations and 93% of the State budget depends on oil revenues.

He pointed out that the law contains a number of strengths, in particular, it encourages the use of modern technology which will be transferred to Iraq through the work of international companies and encourage the production and expedite the process of reconstruction and paves the way for investment.


Loans for 250 thousand unemployed

Iraqi Minister of Labor and Social Affairs, Sheikh Mahmoud Radi, called upon Industrial Bank to expedite the granting of small loans to 250 thousand unemployed, registered in “the social protection network“, confirming the readiness of his ministry to implement this procedure which allows the establishment of special projects for the unemployed, and turn them from consumers to producers.

He explained that the loan value is ten million dinars with low-interests, for a variety of projects in various regions of Iraq to serve the national economy.

He expected a huge turnout by the unemployed to participate in this vital project, pointing out that the ministry had previously provided small-scale projects for the disabled as part of special community-based rehabilitation, pointing out that the average lending for a community-based rehabilitation is three million dinars.

He expressed his hope that the project would include women, pointing out that women can create a sewing workshop, either in their home or outside, instead of waiting for the salary of the social protection network, which does not fill the needs of her family.

http://www.iraqdirectory.com/DisplayNews.aspx?id=3472

"LOAN VALUE" That's the best phrase in this whole article....OMG!! That's HUGE!!!