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

Originally Posted by thebat$

Hi. Bat$'s here. I haven't been following the dinar for sometime, how much are they worth now?

theBat$

1 dinar = 1/1216 of a dollar or 1 dollar= 1216 dinar

Industry is rehabilitating 21 inoperative companies
Within its plan for 2008

The Ministry of Industry and Minerals formed an emergency operation room headed by the minister to study and follow-up requirements of the investment plan for the coming year.

Official source in the ministry said in a press statement that the mission of the emergency operation room also includes supervising the rehabilitation of 21 companies, affiliated to the ministry, nominated to achieve self-sufficiency to them in 2010. These companies include: the General Company for Petrochemical Industries, Iron and Steel, Phosphate and Fertilizers, Diyala and Al-Faris companies, Mechanical Engineering Industries and the companies of the textile sector. The nomination of these companies was due to the large numbers of workers as well as the exploitation of national natural resources in production and the clear and quick economic returns they achieve. He pointed out that the ministry selected these companies because operating them supports and provides the raw materials, equipments and the required machinery for the production of those companies, and one of the important projects covered by the draft plan is iron and steel industry which experts consider as the pillar for the building and development of heavy industries, and the existence of such industries is a standard reflects the technological and economic progress of nations. He stressed that iron and steel industry is one of the basic industries that provide materials required for other industries and to meet the needs and requirements of economic development. The idea of iron and steel project and benefiting from the ruins of iron and steel in the country, started first in Iraq... This industry will raise the value of rubble after conversion into steel products five times the original price and this has a great benefit for national wealth. Figures of the industrial survey showed that the Iron and Steel Project in Basrah had produced 300 tons in 1970, 450 tons in 1975, and more than 500 tons in 1980; the need for iron and steel reached more than ¾ million in 1985, and most of the required quantity of iron and steel in Iraq is construction bars, which comprise 70% of the quantities listed. The production of the Iron and Steel Project varied to include most of the important materials used in construction.

Another important project covered by the investment plan for the coming year is the textile industry sector. This sector includes textile industry, woolen and silk textile, medical cotton industry, jute industry and weaving. Textile industry is one of the oldest and most important industries in Iraq because the raw materials like, cotton, leather and wool are available in addition to the availability of industrial expertise and the local market in addition to its economic and social benefits… It is the most important industry that absorbs a lot of manpower and attracts individual and private capitals as well as investments, which is why most of the technology in the industry enterprises in this sector belongs to the private sector.

There are many textile industry companies such as: the Company of Spinning and Weaving in Mosul, founded in 1957 at a cost of $ 3.5 million dinars at the time, the Public National Company for Fabric, founded in 1970, and it includes a jute factory, mechanical-made carpets factory and another one for hand-made carpets. There is also the Public Company for Cotton Fabric in Kut, which includes two main factories: one for spinning and supplying, and the second for weaving and stockings; later, both factories were merged because they complete each other and for increasing production.

The investment plan also covered the metal products industry which includes: household tools, metal and aluminum furniture, nails, steel products and telecommunications industry, spare parts and batteries, machinery industry and electrical appliances, heaters and refrigerators and many others.

Industry is rehabilitating 21 inoperative companies | Iraq Updates

PM says Government resolved to realize Economic Achievements

Prime Minister Nouri al-Maliki on Wednesday said that the Iraqi government is resolved to realize economic achievements next year after the success realized in the security field.

This came during his meeting with General George Casey, the U.S. army chief of staff.

"There is a significant political and economic development in Iraq now," the premier also said in a statement released by his office and received by the independent news agency Voices of Iraq (VOI).

"Our armed forces are now able to face challenges and maintain security in the country and we seek to develop their capabilities," he also said.
"The Iraqi government is resolved to realize economic and constructional achievements in the coming stage," he asserted.

For his part, General Casey praised the development of Iraqi armed forces' capabilities, reiterating his country's support to the Iraqi government.

The general was the commander of the Multinational forces in Iraq till last February, when General David Petraeus replaced him.
PM says government resolved to realize economic achievements | Iraq Updates

US Congress Passes Budget With Funding for Iraq War

The U.S. House of Representatives has passed a massive spending bill for the 2008 fiscal year that includes $70 billion to fund U.S. military operations in Afghanistan and Iraq.By a vote of 272 to 142, lawmakers Wednesday voted in favor of the legislation that the Senate cleared late Tuesday. The $555 billion bill now goes to President Bush for his expected signature, more than two months after the fiscal year started.

Approval of the budget - which includes $70 billion for the wars in Iraq and Afghanistan - ends a year-long battle between Republican and Democratic lawmakers over U.S. spending priorities.

Democrats won control of Congress in elections last November and announced a goal of bringing U.S. troops home from Iraq. They also had plans to boost domestic spending by $22 billion.

But President Bush threatened to veto any spending bill that contained a timetable for U.S. troop withdrawals, and Democrats were unable to muster enough votes to override the threatened veto.

Democratic Senate Majority leader Harry Reid conceded that Republicans won this political battle, and he called it a loss for the American people.
"And while they win their so-called battle of obstruction, American people are losing," he said. "Millions of low-income children don't have access to health care, less police officers on the street, less funding to find cures for dread disease. What we have is Republicans digging in their heels for the status quo."

Republicans had long insisted on a spending bill that funds the war in Iraq without mentioning a timetable for withdrawal. Republican Senator Jon Kyl said the bill is crucial to U.S. troops.

"First of all, it sends a message to our troops that we support them," he said. "There's been a little confusion about that, and given the fact that the Petraeus plan has had such great success in bringing violence down and bringing control of the country much more along the lines that the United States would like to see and our allies there, it is a way to say to the troops we appreciate what you have done and we are not going to pull the rug out from under you."

The half-a-trillion-dollar appropriations bill combines funding for all government departments except defense, covering housing, law enforcement and transport. Although they were unable to fund many of their favorite projects, Democrats did manage to include about $11 billion in spending for health care for veterans, drought relief, firefighting and border security.

The White House has said it will sign the bill if it contains funding for Iraq.

PUKmedia :: English - US Congress Passes Budget With Funding for Iraq War

President Talabani receives the Iraqi Vice President in Sulaimany

President Talabani received the Iraqi vice president, Dr. Tariq al- Hashimi today at Sulaimany International Airport.

President Talabani welcomed Iraqi vice president warmly and congratulated al-Adha Eid to him expressing his happiness to the visit hoping Iraqi vice president will enjoy his stay in Kurdistan region and that the visit being successful for achieving unity among all the components of the Iraqi people.

On his part, Dr. Tariq al- Hashimi thanked president Talabani for his warm reception and hospitality congratulating al-Adha Eid to his Excellency and to the people of Kurdistan hoping stability and more progress to Kurdistan region.

Later president Talabani said farewell to Dr. Tariq al-Hashimi to his residence place in Dukan resort.

PUKmedia :: English - President Talabani receives the Iraqi Vice President in Sulaimany

U.S. Releases 100 Iraqis in Eid Goodwill
The U.S. military released 100 prisoners from Baghdad's Camp Cropper prison as a goodwill gesture during the Muslim holiday of Eid.

U.S. Marines Maj. Gen. Doug Stone, commander of Multi-National Force Detainee Operations issued a statement in Arabic Wednesday to the prisoners, Kuwait's KUNA news agency reported.

"On this joyful occasion, I would like to take the opportunity to welcome you back to the new, peaceful Iraq," Stone wrote.

Some 850 prisoners have been released this month as part of the program in which prisoners must be screened by a review board and be deemed no longer a threat to national security, the report said.

Before release, the prisoners must also swear an oath before an Iraqi judge to maintain good conduct and avoid violence.

PUKmedia :: English - U.S. releases 100 Iraqis in Eid goodwill

Iraqi PM calls for combating corruption

Iraq's Prime minister Nouri al-Malik called upon all political factions and non-governmental organizations (NGOs) to contribute to combat the corruption, Maliki's Dawa party statement said on Thursday.

Leading a meeting with the representatives and officials of the Shiite Dawa party, the party Secretary General Nouri al-Maliki discussed "the role of political parties and factions in activating the political process and openness to all Iraqi segments" the Dawa party said in a statement received by the independent news agency Voices of Iraq (VOI).

The statement did not give specifics about the meeting setting.

The announcement noted "the meeting discussed the ways to activate the national reconciliation in order to push fprward the political process".
The call came following the U.S. Secretary of Department Condoleezza Rice's visit to Baghdad two days ago and her call to activate the national reconciliation.

Al-Maliki stressed the importance of "combating the financial and administrative corruption as a collective responsibility that requires the vital contribution of political factions and NGOs to confront the phenomenon", the statement quoted PM as saying. Branding corruption as "the most harmful phenomenon", al-Maliki called for "exerting extensive efforts to uproot corruption to achieve justice and equality".

Aswat Aliraq

Flyovers for Amara

The Ministry of Works and Municipalities has allocated five billion Iraqi dinars ($4 million) for the construction of five flyovers in Amara, the capital of the southern Province of Missan.

“The project is part of the 2008 budget earmarked for the reconstruction of the province,” said Governor Mohammed Saleh.

Work on the flyovers will start early 2008 and is expected to be completed in 18 months, the governor said.

The flyovers are being constructed to ease traffic jams in Amara where the number of vehicles has doubled since the 2003 U.S. invasion.

There are now more than 50,000 vehicles in Amara compared with 25,000 prior to 2003.

Azzaman in English

Iraq air force to purchase fighter jets

For the first time since 2003, Iraq Air Forces are expected to be provided with attack fighter jets in the framework of a plan that aims to develop air force capabilities.

In the same context, Air Force Commander, General Kamal Al Barzengi hoped that Iran would bring back 123 new Russian and French fighter jets that resorted to Iran in 1991 war.

One should note that air force encloses nowadays cargo airplanes, reconnaissance aircrafts and helicopters used to transport soldiers.

Alsumaria Iraqi Satellite TV Network | Iraq News | Iraq air force to purchase fighter jets

US: Iraq starts to resist Iranian influence

Deputy Assistant Secretary of State for Near East Affairs Lawrence Butler affirmed that Iraqi Shiites are starting to resist Iranian influence in Iraq just like Sunnis faced the threat of Al Qaeda in the past. Butler expected the year 2008 to be a crucial turning point for the current government as it has no other options than to find means to rally the support of tribal leaders in Shiite areas by providing them health and educational services.
On the other hand, US Army spokesman said the Iranian detainee Sayyed Khdeir, held by US Forces in Iraq since July 2004, has been released. Khdeir is the tenth Iranian released by US Forces within less than two months while the US Military still holds tens of other suspects thought to be supporting militias.

Alsumaria Iraqi Satellite TV Network | Iraq News | US: Iraq starts to resist Iranian influence