Thread: Iraq/Dinar News until 5PM CST May 10,2007

Warnings of big inflation because of the continuing rise in fuel prices

05 May 2007 (Iraq Directory)

Warnings emerged in Iraq of the economic consequences because of the continued rise in fuel prices made by the government of Nuri al-Maliki, similar to the steps taken by the previous Al-Jaafari government which doubled fuel prices more than 5 times by the end of 2005.

The economic expert in the affairs of planning and economic development, Bataa Al-Kubeisi, said that the Iraqi government continuation in raising fuel prices will lead to a rise in the current inflation rates in Iraqi economy because of the direct impact of the drastic increase in prices on the wages of transportation and therefore the result would be an increase in food prices thus raising the prices of materials in all areas.

At a time when Al-Maliki government brought the price per liter of gasoline to 400 dinars a month ago after raising its price from 250 to 350 dinars under their endeavors to bring it to 750 dinars by the end of this year, the Iraqi Ministry of Planning indicated that the inflation rate in Iraqi economy exceeded 70%.
In case the Iraqi government achieved its aim and brought the price per liter of gasoline to 750 dinars by the end of this year after it was only 20 dinars two years ago (before Al-Jaafari government increased its price from 20 to 250 all at once, promising to grant financial returns to the poor but have not been paid yet) the price of petrol in Iraq will come much closer to the one in the United States and Europe.

Crediting Basrah farmers 58 million dinars during last March

05 May 2007 (Iraq Directory)

The loans provided by the Farmers Lending Fund in the Ministry of Agriculture for the farmers in Basrah last March were nearly 58 million dinars covering five different activities. The director of Basrah Cultivation, engineer Amir Salman Abdul-Hussein, said in a statement that during his presence at the Ministry: The loans granted within the new budget to the Fund, which increased from 25 billion to 50 billion dinars for the current year, will provide great opportunities to serve a wide spectrum of farmers and the various activities of the Fund, which included 17 different specialties.

He expressed confidence that the numbers of farmers applying for loans from the fund will increasing during the coming period. He said loans granted to farmers in central Basrah and Qurnah district were distributed as 37 million dinars for the first, and 20 million dinars for the second to cover the purchase of trailers at the cost of ten million dinars, drilling wells at 37 million dinars, four millions for the cultivation of wheat, three million for orchards, and 2 million and 500 thousand dinars to develop Apiaries.

Conference on Higher Education in IraqHeld in Irbil on 4- 6 September, 2007


05 May 2007 (Iraq Directory)

The Ministry of Higher Education and Scientific Research in Kurdistan and in cooperation and participation of the Organizing Committee for Higher Education in Iraq, located in London, and the Ministry of Higher Education and Scientific Research in Baghdad as well as all Iraqi universities are holding a World Conference on Higher Education in Iraq in Erbil on 4- 6 September, 2007.

The Conference aims to improve higher education and keep up with the global developments in the field of higher education and scientific research to be able to participate actively in the community and meet the needs of the country and its development. And some of the most prominent themes covered by the conference include:

Modern and efficient university administration

The adoption of modern administrative systems using contemporary technology with adoption of effective administrative structure away from bureaucracy and routine, learning how to take decisions, resolve outstanding problems and adopt the best way to distribute the cadres with characterizing their duties according to their specializations.

Human resources and building abilities for university leadership

Building abilities of the administrative, technical and academic cadres to keep up with the contemporary managerial and technological developments in the world.

The curricula and the modern teaching methods and their technologies

How to design curricula in line with the technological developments and link them to teaching and the use of modern technology.

The evaluation and supervision, quality assurance and evaluating activities of the members of the teaching staff

Evaluating scientific departments, teachers and students, research, various educational activities and the use of modern technology in the school system

(Quality Assurance, Assessment and Evaluation)

Higher studies systems and scientific research

The university and community (its role, the labor market)

Different patterns of Higher Education (the private, the open, by corresponding ........ etc.).

Ministry Carries out Campaign for Jobless Rehabilitation


Baghdad, 30 April 2007 (Al-Sabaah)

Scientific Research & High Education Ministry would carry out in coming month a big campaign for rehabilitating the jobless youth and those of especial needs as a supporting of law enforcing plan and building the society.

A source at the ministry said that, the ministry would soon starting of a big campaign for rehabilitating the jobless youth which would participating in achieving safety and stability besides the social steady by offering a big service for the government in the new plan.

Worth mentioning that the minister Dr. Abd Thiab A'ajeely declared during his meeting with the technique education institution dean, that the ministry would participate in advancing the security new plan by employing the jobless cadre of the youth in different places of the ministry

Opening of Modern Mills in Four Provinces

Trade ministry aims opening of 4 modern gigantic mills through the few coming period after carrying out of other 4 mills in the new project including 20 mills by an Iraqi staff completely.

General Director of the Grain Manufacturing State Company Rasheed Bani said that, the ministry currently aims opening of 4 Swiss mills one of them in Najaf province through the next two weeks, other 3 mills in Hilla, Wassit & Muthana provinces through the coming 2 months.

He added that the company carried out establishing and structuring of 4 Italian mills in Saladin, Maisan, Qadisya & Dhiqar provinces but it still un working because of the specifications of supplying enough number of the staff.Mean while, he mentioned that currently the work stopping in the private mills in Anbar, Daiala & Mosul provinces besides other 2 mills in Baghdad because of the bad security situations.

Activating commercial relations between Iraq and the world
05 May 2007 (Iraq Directory)

The Ministry of Commerce said that next month will witness the implementation of a special program to activate trade relations between Iraq and various countries around the world.

A source in the ministry said in a press statement that "this program prepared by the government would include all countries of the world, especially the neighboring countries to develop economic and commercial relations with them as there will be a joint bilateral committees with those States as well as increasing business contracts .. He added: "The coming days will witness the meetings between the Iraqi government delegations and a number of countries of the world, especially the neighboring countries, to discuss joint working papers between Iraq and those countries", stressing: "Iraq's desire to develop all economic and trade relations with the world countries and the relations that were cut during the past years to gain the experience of various countries of the world in developing the economy, supporting the private sector and to taking advantage of investment law which was approved some months ago. It is noteworthy that Iraq is seeking to join the World Trade Organization after obtaining the observer status in the organization in a step considered a prelude to reviving the Iraqi economy and the reconstruction of Iraq.

Emirate companies offered participating with their capital
Iraqi Company of Guarantees tends to double loans

05 May 2007 (Iraq Directory)

Board chairman of the Iraqi Company for Bank Guarantees, Wadee' Alhandal welcomed a request made by the Emirate companies to enter into partnership strategy, and added that it is a step that will activate the program established by the company's board in two meetings in each of Irbil and Amman, which imposed expanding the company's activities in a way that develops its capital and provides opportunities for investment in various productive sectors.

He added that authorities are considering the offers of Emirate companies allowing them to enter into partnership with his company which is scheduled to transfer from a private company to a shareholding company putting its shares for public subscription. He explained that there are other Iraqi banks that will join the company in the current year, to become more representative of the Iraqi banking sector which was undergoing radical transformations to strengthen its role in the process of development and construction.
Alhandal, who also heads the board of "Ashur International Bank for Investment" which is one of the Iraqi banks and partner in the company, said that more than 20 local body applied for loans from the company to implement projects in the areas of industrial, agricultural, service sector, construction and tourism; pointing out that the "Prosperity Project" funded by the "American Agency for International Development", which is specialized in developing Iraqi private sector activity offered a contribution to the company of 500 thousand dollars, explaining that so far $ 1 million in loans were given to about 60 projects varied in size and activity throughout Iraq, and they were granted by Iraqi banks which are sharers in the company.

Double loans

Alhandal expected to double the volume of loans granted by the company to the projects very soon, and added that "Kurdistan region might be the main arena for the company's current activities due to the size of the projects in it, but the restoration of the security situation in the rest of Iraq will contribute greatly to the rapid pace of loans provided by the company".

He explained that the company's capital will double in a high rate, in light of the widening base of the funding needed by the projects to be implemented in different regions of Iraq.

Alhandal pointed out that Kurdistan experience in development deserves contemplation and study since it expresses the region's need for various projects and means of attracting capitals to invest in it; it is an experience rich of results experienced by each visitor to the region.

He explained that all Iraqi banks are applying for opening branches for them in the provinces of Kurdistan, hoping that the local
authorities: "will support such a move, which would contribute positively to activate the economic and banking activity to serve the march of development".

Originally Posted by PAn8tv

Warnings of big inflation because of the continuing rise in fuel prices

05 May 2007 (Iraq Directory)

Warnings emerged in Iraq of the economic consequences because of the continued rise in fuel prices made by the government of Nuri al-Maliki, similar to the steps taken by the previous Al-Jaafari government which doubled fuel prices more than 5 times by the end of 2005.

The economic expert in the affairs of planning and economic development, Bataa Al-Kubeisi, said that the Iraqi government continuation in raising fuel prices will lead to a rise in the current inflation rates in Iraqi economy because of the direct impact of the drastic increase in prices on the wages of transportation and therefore the result would be an increase in food prices thus raising the prices of materials in all areas.

At a time when Al-Maliki government brought the price per liter of gasoline to 400 dinars a month ago after raising its price from 250 to 350 dinars under their endeavors to bring it to 750 dinars by the end of this year, the Iraqi Ministry of Planning indicated that the inflation rate in Iraqi economy exceeded 70%.
In case the Iraqi government achieved its aim and brought the price per liter of gasoline to 750 dinars by the end of this year after it was only 20 dinars two years ago (before Al-Jaafari government increased its price from 20 to 250 all at once, promising to grant financial returns to the poor but have not been paid yet) the price of petrol in Iraq will come much closer to the one in the United States and Europe.

inflation coming to a lagerhead due to them raising fuel and not raising income level. wont be long, hang in there iraq!!