Thread: Archive Latest News - Think Tank - 03/11/07 - 31/12/07

Sorry, I might have already posted this.

Opening a joint Iraqi-Iranian Bank in Karbala

An official source in Karbala province said that a joint Iraqi-Iranian bank was opened on Sunday, with a capital of $30 million, to solve the problems of Iranian visitors to the holy shrines in Iraq.

He added that "the capital of the bank is a joint one between "Iqtisad Nuwein" bank and "Ckshaoorzi" bank on one hand and the Bank of Cooperation for Regional Development in Iraq on the other."

The holy sites in Najaf, Karbala and Kazimiya are visited by 2500 visitors a week, according to agreements between the two governments of Iraq and Iran.

The city of Karbala, Karbala Governorate Center, lies 130 km to the south of the capital Baghdad.

http://www.iraqdirectory.com/DisplayNews.aspx?id=5104

Chinese company to establish thermal power station in Kut

A high-level delegation from the electricity ministry headed for the Chinese capital Beijing to sign a contract with a Chinese company to set up the Kut thermal power station in Wassit province, the electricity ministry said on Tuesday.

"The production capacity of the $940-million new plant will reach 1,320 megawatt. The construction works will end in three and a half years by the government's Shanghai company," the media spokesman for the ministry said in a statement received by the independent news agency Voices of Iraq (VOI).

"The delegation was authorized to sign the contract," he also said, noting that the contract will be signed after being approved by the cabinet and the economic committee.

"The company which will implement this project had accomplished the project's designing works in 2001 as well as some civilian works, but it left the country because of the U.S.-led invasion in 2003," he noted.

"The project if completed will be one of the big power stations in Iraq and will cover Wassit province's electricity needs as well as the nearby provinces," the spokesman said.

He said that Electricity Minister Karim Wahid Hassan had met with the Chinese ambassador to Iraq last May on the project.

Aswat Aliraq

Governor of Maysan: 60% of 2007 budget for sanitation projects

The governor of Maysan, Adel Mohawdar Al-Maliki, has said that 60% of the provinces' developement and projects reconstruction budget for 2007, which estimates at 96 billion dinars, was spent on sanitation and sewage systems covering all parts of the governorate.

These projects are hoped to be completed in mid 2008, and he added that the reconstruction projects executed within this budget included other sectors.

Engineer Al-Maliki, who was hosted by Maysan's governorate council, said "The spending process on reconstruction projects exceeded 40% which is a good proportion given the quality of the projects implemented in the governorate" pointing out that these projects included other sectors rather than sanitation projects.

The governor stated that projects in other sectors included housing projects, where a new complex of 504 apartments is being built in addition to electricity projects such as Al-Kahla district transmission station (18km south of Amara).

He added that work to build a second power generation station by an Iranian company will start soon, the station will be located near the transmission station in al-Kahla.

He added that many other projects in the health sector are being carried out including a maternity and university ho****al with a capacity of 400 beds, the work will also include building a residential complex for medical staff working in these ho****als.

Engineer Mohamed Shia'a Sabbar, member of reconstruction and development committee in the governorate council, has said that more than 500 sanitation and sewage projects have been executed within the budget of 2007.

Iraq Development Program - Governor of Maysan: 60% of 2007 budget for sanitation projects

OPEC MEETING OPEC to call emergency meeting in Jan if more oil needed - Iraq

ABU DHABI (Thomson Financial) - Iraqi Oil Minister Hussain al-Shahristani said today that OPEC will call an emergency meeting in January 2008 if there is a need for more oil.

He told reporters that a January meeting is "quite possible."

Al-Shahristani added, however, that he is concerned about the US economy, which is a factor that helped push through an oil increase at the last OPEC meeting in Vienna in September.

OPEC is meeting today in Abu Dhabi behind closed doors to discuss whether or not to hike oil production going forward.

OPEC MEETING OPEC to call emergency meeting in Jan if more oil needed - Iraq

Iraq group holding Britons demands UK withdrawal-TV

U.S. forces said on Tuesday they had killed or captured 40 senior al Qaeda members in Iraq, but militants threatened to kill a British hostage in 10 days as a "first warning" unless Britain withdraws from the country.

Attacks in Iraq have fallen to their lowest in nearly two years after a security crackdown, which included deployment of an extra 30,000 U.S. troops targeting Sunni Islamist al Qaeda as well as Shi'ite militias across the country. But the appearance of a British hostage in a video, dated Nov. 18, on Arabic-language al Arabiya channel underscored the danger still posed by militants.

A large number of gunmen seized five British hostages -- a computer instructor and his four bodyguards -- from inside a Finance Ministry building in Baghdad in May.

The video set a deadline of 10 days from the date it was broadcast for Britain to pull its troops from Iraq. British troops are deployed in the mainly-Shi'ite south. "My name is Jason. Today is November 18. I have been here now 173 days and I feel we've been forgotten," said one of the hostages on the video as he sat in front of a banner of the Shi'ite Islamic Resistance in Iraq.

The video showed a statement in which the group threatened that "this hostage will be killed as a first warning, which would be followed with details that you would not wish to know".
Britain condemned the video.

"No matter what the cause, hostage taking can never be justified. We again call on those holding the men to release them unconditionally," a Foreign Office spokesman said in London.

U.S. commanders say one reason for the reduction in violence in Iraq has been a series of operations aimed at al Qaeda, which has been blamed for trying to trigger all-out sectarian war through a campaign of car bombings and other attacks.

U.S. military spokesman Major-General Kevin Bergner said nine senior al Qaeda members had been killed and 31 caught in November, but he added that the group remained a threat. "There is no question that al Qaeda in Iraq remains a dangerous and vicious threat to the Iraqi people and to the security forces and the coalition forces," Bergner told a news conference. "Al Qaeda continues to try to seek spectacular attacks which were so damaging and which continue to be so damaging in inciting sectarian tensions."

Bergner said one al Qaeda member killed last month had been identified as Abu Maysara, a Syrian he described as a senior adviser to al Qaeda in Iraq leader, Egyptian Abu Ayyub al-Masri. He said Maysara was killed along with five other al Qaeda fighters in a raid on a building near Samarra, 100 km (60 miles) north of Baghdad on Nov. 17, when U.S. ground forces called in an air strike after taking fire from a building. Of the 40 killed or captured in November, four were "senior level emirs" and nine were cell leaders, Bergner said.

Maysara was an adviser to slain al Qaeda in Iraq leader Abu Musab al-Zarqawi in Falluja, west of Baghdad, where al Qaeda fought battles against U.S. forces in 2003 and 2004, Bergner said. "He also ran an illegal court in Falluja that was responsible for the brutal murders of countless innocent Iraqis," he added.

Earlier on Tuesday, Iraq's cabinet agreed to seek a final one-year extension on the U.N. Security Council mandate allowing U.S.-led foreign troops to operate in Iraq.

The current one-year mandate expires at the end of 2007. When the U.N. mandate ends in 2008, bilateral agreements will govern U.S.-Iraqi relations. The White House has said formal talks will begin early next year on the future relationship.

Iraq group holding Britons demands UK withdrawal-TV | Iraq Updates

New refinery project in Syria

The Syrian government recently signed an agreement with Iran, Venezuela and a Malaysian consortium to build a refinery with a capacity of 140,000 barrels per day.

The refinery would be located in s Furoklos in Central Syria and close to the old pipeline linking the oilfields of Iraq with Syria's Mediterranean coast.

The project, with a value of $2.6bn will be a joint venture between all the parties.Production of the facility should begin in 2011 with a capacity.

New refinery project in Syria | Iraq Updates

Ensuring 1500 Jobs for idles in Basra

Work and social affairs ministry ensured job chances for 1500 jobless in Basra province and for 3 month.

A source at the ministry said that, they tend to raise the capabilities for the municipality councils chiefs in arrangement with GEC which would carrying out in cooperation with UNOPS.

He added that the project includes ensuring job for the jobless in 3 sub districts as ( (Shatt al-Arab, Abi al-Chaseeb, Fao), adding that the project of Shatt al-Arab pensured job for more than 600 jobless, and employing 300 other jobless in Panorama garden establishing project at Fao entrance besides employing other 600 jobless in the project of rehabilitating the parks and the streets in Abi al-Chaseeb sub district.

Ensuring 1500 Jobs for idles in Basra | Iraq Updates

Kuwaiti business expect Iraq reconstruction windfall

Kuwait wants to rebuild Iraq. Or at least, it wants to be the broker who helps the rest of the world to do so. The country's powerful chamber of commerce has entertained business delegations from all across the world with one goal in mind: convincing foreign investors of the advantages of investing in the war-torn country by joining forces with Kuwaiti businesses.

To serve as the logistics hub and much touted 'door to Iraq' Kuwait is also investing heavily in its infrastructure projects including a new port in the northern part of the country and a rail line from Kuwait City to the Iraqi border.

Kuwait's business elite - both top merchants and ruling family members - are behind the effort to develop the north. Hoping to exploit Kuwait's strategic location, the north including Bubiyan and Abdally will be key transit/logistics points for any investors shipping supplies and materials into infrastructure hungry Iraq.

Last month, Kuwait hosted a four-day international trade exhibition for the reconstruction of Iraq to encourage local and foreign companies to invest in Iraq's rebuilding.

Kuwait Chamber of Commerce and Industry (KCCI) is also spearheading the private sector's efforts to lure foreign companies to invest in Iraq and take part in its reconstruction. KCCI's Chairman and prominent businessman Ali Al-Ghanim asked a Chinese business delegation last month to invest in Iraq through entering joint-ventures with Kuwaiti companies.

A few days later, another trade mission, the Romanian business delegation visited KCCI, and a similar message was sent: Iraq is where the money is and Kuwait is the gateway into the country.

But why is KCCI assuming the role of the promoter for Iraq's investing opportunities?

As the KCCI represents Kuwait's major merchant families such as Al-Ghanim, Al-Sayer, Al-Bahar, Al-Wazzan, Al-Sager, Al-Marzouk, and Al-Humeidi, investing in Iraq will certainly benefit Kuwaiti businesses.
Many merchants want to cash in on the lucrative business opportunities that Iraq can bring into Kuwait especially with the US Army presence in the region. Kuwait's strategic location is a vital factor to the success of its logistics sector and companies in Kuwait are in an advantage to tap this profitable market.

For instance, Kuwaiti logistics giant, Agility - also known as Public Warehousing Company (PWC) - has benefited from the presence of the US army in Iraq by using Kuwait as the gate into the country.

In 2005, Agility won a $3.2 billion contract with the US Department of Defense (DOD) to supply US forces stationed in the Arab Gulf. In September, Agility announced partnership with US-based DynCorp in a $50 billion deal with the US military as a part of a ten-year contract. Seeking a major logistics partner to help facilitate the US military withdrawal expected during the next couple of years, the US DOD's deal could be worth billions of dollars.

A few months following the Iraq War and the regime change in 2003, Kuwait announced its plans to build a new port on Bubiyan Island, as part of a $1.2 billion infrastructure project to reshape the north. The new container port terminal on Bubiyan is to serve the export and import requirements for the reconstruction of Iraq.

The Bubiyan project along with other construction projects in the north are also backed up by key Al-Sabah family members.

United Real Estate Co. (URC), a subsidiary of Kuwait Projects Company (KIPCO), is headed by the son of Sheikh Nasser Sabah Al-Ahmad Al-Sabah, the Amiri Diwan Minister and son of HH the Amir Sheikh Sabah Al-Ahmad Al-Sabah. KIPCO, which is headed by the Amir's other son Sheikh Hamad, is a shareholder in Iraq's Bank of Baghdad through its subsidiary United Gulf Bank.

Last year, URC announced its plans for a KD 250 million ($855.7 million) project to develop Abdally border passage between Kuwait and Iraq. The project aims to regulate customs and trading activities in the northern part with Iraq and other neighboring countries.

Moreover, Kuwait has a political interest in Iraq's stability, because it simply means securing its own safety, especially with the rising tension in the region and a possible US war against Iran. By securing a stable Iraq through generating more investments towards the rebuilding process, Kuwait can concentrate on its internal agenda of reforms and attracting more Foreign Direct Investments (FDI).

But playing on the "Kuwait as a trade gateway into Iraq" idea is not new. Kuwait has been publicizing the same concept since 2004, and Iraq's political instability and lack of security didn't improve much since then.

The idea of investing in Iraq is revived again because it is time for Kuwaitis to get involved in the multi-billion dollar reconstruction process. So far, the United States has allocated $38.28 billion as of the end of 2006, while other donors have pledged over $15 billion.

There is so much money flowing in the rebuilding process and the returns could be substantial. Kuwait wants to benefit from the cash flow pumped into its neighboring country by benefiting from its geographical position.
But why go through Kuwait?

Al-Ghanim says that Kuwaiti investors "will have a priority over other businesses" citing Iraq's President Jalal Talabani during his last visit.

During the visit of the Iraqi President to Kuwait, he stressed on his government's interest that Kuwaiti businesses contribute in developing Iraq's economy... He (Talabani) said Kuwaiti companies will have a priority in Iraq ," said Al-Ghanim. "Iraq and Iran are open markets and many sectors are available for investments, especially to Kuwaiti businesses.

Kuwaiti business expect Iraq reconstruction windfall | Iraq Updates

Talabani: Iraq Can Be Ruled only by Accordance

Yesterday, His Excellency president Jalal Talabani, received in his residence in Baghdad, a delegation from the Iraqi Islamic Party which consisted of: Dr. Mihsen Abdu-al-Hammed, the head of the consultation council, Omer al-Jobori the head of human rights office, Nasser al-Ani the head of presidency office and member of the politburo in the party and Rafea al- Esawi, a member in the politburo in the Iraqi Islamic Party.
President Talabani discussed the last political developments in Iraq asserting that “Iraq can be ruled only by accordance between Shiites, Sunnis and Kurds.”

His Excellency also emphasized the importance of the Iraqi tribe’s role, in fighting al-Qaeda and securing stability in Iraq, appreciating the sacrifices of these tribes in facing terror, also praised the patriotic stands of the Iraqi Islamic party.

PUKmedia :: English - Talabani: Iraq Can Be Ruled only by Accordance

Abdullah: Al-Shahristani’s Announcement is Political

Jamal Abdullah, KRG spokesman said that the announcements of the Oil Minister Hussein al-Shahristani are “political and have no relation with his authorities as a minister.”

In a phone call with al-Sharq al-Awsat newspaper from Erbil, Abdullah said “he has no authorities to judge the legality of these contracts, or to classify the companies with international reputation or not.”

He also said that the regional government is dealing with transparency in making contracts, and its details are published on KRG official website, where many international companies are competing to make agreements.
“Al-Shahristani and some government officials in Baghdad cannot realize the Regime and Constitution change after the 9th of April (in referring to the ex-regime fall)”, Abdullah added.

PUKmedia :: English - Abdullah: Al-Shahristani’s Announcement is Political