Thread: Archive Latest News - Think Tank - 01/01/08 - 14/04/08

Japanese Company to Rehabilitate Iraq's Al-Taji Gaseous Station

A spokesperson for the Ministry of Electricity announced that the ministry has inked an agreement with a Japanese company to complete the rehabilitation of the Al-Taji gaseous power station, Iraq Directory reported.

He also added that the development is being funded the Japanese grant allocated for the ministry.

An Iraqi company will start implementing the project under the Japanese supervision, while a Jordanian company will be responsible for the survey and assessment of the project.

It is noteworthy that the Iraqi Ministry of Electricity has prepared a plan for 2008 that includes building a large number of generating units in Baghdad and other governorates to reach a production capacity of more than nine thousand five hundred megawatts at the end of this year.

PUKmedia :: English - Japanese Company to Rehabilitate Iraq's Al-Taji Gaseous Station

Karbala…Arresting a Forgery Gang

PUKmedia 2008-01-07 13:31:13
Rahman Mashawi, press Spokesman in Karbala Police Directorate said that the patrols of Combating Money Laundry Department in Crime Investigation Directorate arrested a band accused of possessing an amount of faked money; they were taken to be investigated with to know the source of the seized money.

“They are members in a gang which swindles local citizens by promising to appoint them in the Iraqi Army in return of 400 US$.” as Rahman Mashawi added.

PUKmedia :: English - Karbala…Arresting a Forgery Gang

Exchanging Coins with Paper Notes Currency in Kurdistan Region Banks

PUKmedia 2008-01-07 13:35:01

A source from the Regional Ministry of Financial Affairs, in condition of anonymity, said “the ministry decided to exchange the 25, 50 and 100 Iraqi dinar coins. Banks are going to receive these coins from the citizens and to be exchanged with a paper currency.”

“The decision starts to be implemented from 3-1-2008 to 1-2-2008”, the source added.

PUKmedia :: English - Exchanging Coins with Paper Notes Currency in Kurdistan Region Banks

Demand for the dollar down in daily auction

Demand for the dollar went down in the Iraqi Central Bank’s auction on Monday, the first session this week after the Army Day holiday, registering at $142.970 million compared to $181.280 million on Thursday.

"The demand hit $16.40 million in cash and $126.930 million in money transfers outside the country, all covered by the bank at a stable exchange rate of 1,215 Iraqi dinars per dollar, unchanged for the third session in a row," according to the central bank's daily bulletin which was received by the independent news agency Voices of Iraq (VOI).

The banks participating in the auction offered to sell $4.200 million, which the bank bought at an exchange rate of 1,213 Iraqi dinars per dollar.

Demand for the dollar was at a record high in the Iraqi Central Bank's auction on Thursday, reaching $181.280 million, the highest in its history.

The Iraqi Central Bank runs a daily auction from Sunday to Thursday.

Aswat Aliraq

New Iraqi political movement to be announced

Iraqi List member Ousama Al Nujaifi confirmed that a new political movement will be announced this week including most of political parties denouncing ethnic and sectarian apportionment. Al Nujaifi declared that the pact document due to be announced by the movement will include solutions to several issues mainly Article Constitution 140 and a timetable for multinational forces withdrawal from Iraq in addition to the abstention of signing security agreements with the US. He added that intense meetings were held the last few days between Iraqi lawmakers, Sadrists, Al Fadhila Party, Al Daawa Party and resigned MPs from the Coalition. However, Al Sadr Bloc MP Nassar Al Rubaie showed reservation about forming a new political front saying that the joint pact will be issued by participating parties.

Alsumaria Iraqi Satellite TV Network | Iraq News | New Iraqi political movement to be announced

Al Sistani calls to stop internal killings

Grand Ayatollah Ali Al Sistani said that internal killings among Iraqis are a loss for all parties, calling citizens to help their nation stop terrorists by reporting on them. In his Ashura speech, Al Sistani called not to seize governmental money while Shitte authority Mohammed Isaac Al Fayad called to fight rebels and not tolerate convicted people on account of violent acts.

On the other hand, a leader of awakening councils in Al Aazamiya, Major Riyad, was killed in addition to a number of civilians, due to an explosion targeting the headquarters of the Sunni endowment in the city.

Moreover, a series of attacks targeted churches and convents in Mosul, wounding four people and damaging a number of monasteries, Major Abdul Karim Khalaf Al Jibouri reported. In addition, two US soldiers were killed due to an explosion in Mosul, the US Military said.

Alsumaria Iraqi Satellite TV Network | Iraq News | Al Sistani calls to stop internal killings

Investment opportunities conference between Iran and Iraq starts off

The investment opportunities conference in the fields of oil and gas between Iraq and Iran have started in Tehran to discuss joint cooperation between both countries and enhance relations in oil investment, extraction and refining fields in addition to oil and gas pipelines and petrochemical industries. Iranian economic and Finances Minister Daoud Jaafari noted in the opening speech that both countries can work together in order to supply the world market with oil needs in the future.


Alsumaria Iraqi Satellite TV Network | Economics News | Investment opportunities conference between Iran and Iraq starts off

Trade Ministry working to provide ratio cards

Trade Minister Abdul Fallah Al Sudani announced the start of a major contracting plan to provide ratio cards for the year 2008. Al Sudani told reporters that his Ministry has concluded several contracts with different international facilities in order to import wheat, rice, milk, oils and sugar and implement a plan to provide strategic stocks of these materials for the current year. Al Sudani noted that a joint plan with the Planning Ministry has been put forth to determine the parties benefiting from ratio cards and the case of each family in preparation for the second quarter of the current year affirming that the ratio card is constant and has not been changed.

Alsumaria Iraqi Satellite TV Network | Economics News | Trade Ministry working to provide ratio cards

OPEC President expects further oil prices increase

OPEC President Shakib Khalil said he expects oil prices to continue increasing until the end of the first quarter in 2008 while they would be stable at the second quarter. Khalil explained that ongoing surge is due to the latest political tensions in Pakistan and the increasing violence in Nigeria in addition to the decrease of oil stocks in the United States.

On the other hand, a Kuwaiti Newspaper reported Qatari Oil Minister Abdullah Al Attiye as saying that OPEC is not responsible for oil prices increase because markets are witnessing supplies abundance, thus competitors are the ones responsible for the surge.

Alsumaria Iraqi Satellite TV Network | Economics News | OPEC President expects further oil prices increase

Sorry if already posted

"Orascom Telecom" sold its whole share in "Iraqna" to the Kuwaiti Zain

The Egyptian company Orascom Telecom completed the sale proceedings of its whole share in Iraqna Company for mobile communications in Iraq to the company "MTC Atheer" affiliated to the Kuwaiti company Zain. Orascom said in a statement that it had completed the closure of all obligations related to the deal which is valued at approximately $1.2 billion. Orascom Telecom shares closed at the end of dealings at the Egyptian Stock Exchange with a decline of about %0.6, recording 92.1 pounds.

Zain group for mobile in the Middle East and Africa announced last December its possession on the company "Iraqna", which its subscribers amounted to about 7 million, by %100.

"MTC Atheer" has won last August one of the licenses to operate mobile phones posed by the Iraqi government and worth 1.25 billion dollars for a single license; while Orascom Telecom, which established "Iraqna" after the US-led invasion of Iraq in 2003, failed in the bidding on the three licenses, which made it sell its company's assets in the country.

The Kuwaiti government owns %24.6 of the shares of Zain Company which has a capital of $25 billion.

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