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  1. #1001
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    Dollar demand drops in CBI auction

    Demand for the dollar went down at the Central Bank of Iraq’s (CBI) auction on Sunday, reaching $110.18 million compared to 154.115 million during the previous session.

    The demand reached $58.7 million in cash, covered by the bank at a stable exchange rate of 1,180 Iraqi dinars, and $51.48 million in foreign transfers outside the country covered by the bank at a stable exchange rate of 1,177 Iraqi dinars per dollar, according to a CBI news bulletin.

    None of the 14 banks that participated in today’s session offered to sell dollars.

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

    Dollar demand drops in CBI auction : Aswat Al Iraq

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  3. #1002
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    Cabinet OKs upping Iraqi insurance co. capital

    The Iraqi cabinet agreed to increase the Iraqi Insurance Company’s capital from 300 million dinars to 1 billion dinars to help it compete with local and foreign corporations, an official spokesman for the Iraqi government said.

    “The decision was approved in a cabinet session held on Sunday under Prime Minister Nouri al-Maliki,” Ali al-Dabbagh was quoted in a statement by his office as received by Aswat al-Iraq.

    The cabinet also approved a bill by the reconstruction & housing ministry the Republic of Iraq’s joining the Arab Insurance Institute by paying $150,000 to purchase 15,000 shares, the statement added.

    On the other hand, the cabinet also endorsed a contract to carry out a feasibility study and basic designs of two projects for the Missan oil refinery at a cost of $148.6 million and the Kirkuk refinery at a cost of $123.3 million with a production capcity of 150,000 barrels per day (bpd) each.

    Cabinet OKs upping Iraqi insurance co. capital : Aswat Al Iraq

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  5. #1003
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    Iraq to play crucial role in deciding oil prices

    Iraq remains a 'wild card' in Opec's system, and will play a crucial role in determining oil prices in the coming years, an expert has said.

    Robin Mills, who recently authored a book The Myth of Oil Crisis, said that Iraq's needs to traverse a delicate path between "producing enough oil" to support its reconstruction projects and "to not produce enough" to pull down oil prices.

    "Iraq currently produces two to 2.5 mn barrels a day. They have plans to produce five to six million barrels a day. Technically it is possible. But then if that happens, Iraq will have to find a way to adjust itself into the Opec system. That level of production can certainly derail oil prices," said Mills, who released his book at Virgin Megastore in Dubai.

    Opec had recently cut oil supplies by 1.5 million barrels a day in an emergency meeting called to control oil prices. Oil prices have refused to look back even after most Opec members complied with the step.

    "The effect of a cut a rise in production comes in only after a few months. And prices would have further fallen if emergency measures would not have been taken," said Mills.

    Recent developments indicate that Iraq's oil production will indeed rise. Iraq and China signed a final contract to develop Al Ahdab oilfield at a value of more than $3 billion on November 10. The contract was signed between Iraqi Oil Minister Hussein al Shahrestani and Chinese Vice Minister of Commerce Wei Jianguo.

    Al Ahdab comprises seven explored wells that are expected to yield 200,000 bpd to be pumped through a pipeline to the Al Nassiriya station, and from there to the export harbours in southern Iraq. The Iraqi oil ministry had recently announced a plan to attract foreign companies to invest in the country's oil sector and increase production to reach five million bpd by 2010 if the 80 explored fields were developed. Al Ahdab, discovered in 1979, boasts a reserve of 225 million bpd.

    Opec has so far not included Iraq's proposed hike in production in determining total production capacity in the coming years. Recently released Opec data shows that Iraq's total production will rise to 2.8 million barrels/day in 2010 from two mn barrels/day in 2007.

    Mills said oil prices can range anywhere between $40 to $80 a barrel in 2010. Asked to explain the dramatic rise of oil prices to $147 a barrel recently, he said: "There was a long increase in demand since 2000 in US, China and India. And there were under-investments in enhancing production capacity for 10 or 20 years before that. Problems in Nigeria and Venezuela too played a role in not enhancing capacity. I believe that 'hot money' meaning the money from speculators was responsible for the dramatic rise from $80 to $147."

    Iraq to play crucial role in deciding oil prices

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  7. #1004
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    50 deputies to postpone travel until next Thursday to complete the discussions Convention

    Is parliament speaker Mahmoud al-Mashhadani to defer travel to the Vice-Hajj until next Thursday, to complete the consultations on approve security agreement.

    He criticized al-Mashhadani, chairman of the Foreign Relations Committee in parliament, Hammam Hammoudi, to travel and left Hammoudi said that at this time, which needs parliament to the Committee which he headed, adding that the parliament would consider the chairmen of the standing committees.

    This comes after the cross-Sistani, the religious authority to his dismay that some parliamentarians to travel on pilgrimage in time for the country to answer according to a statement issued by his office.

    http://66.102.9.104/translate_c?hl=e...vwe9jwVPQ6Yh6A

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  9. #1005
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    Invite companies to "voluntary commitment" to pay taxes "honestly and fairly"

    thought this was worth posting for the title alone..

    Called the General Authority for taxes, Saturday, companies to "voluntary commitment" to pay the tax implications of their "sincerity and justice," according to a statement of the Ministry of Finance.

    The ministry said in a statement of the Director-General of Taxation, called "owners to abide by the voluntary submission of financial statements in a timely manner," a claim that these lists reflect "honestly and fairly on the results of activity and the company's financial position and performance of the tax achieved."

    The statement was issued following the "Jtma head of the Department of companies with employees to discuss the work plan section and actions taken to hold accountable corporate tax in accordance with the law .. to put an end to tax evasion ... to reactivate efforts to increase tax revenues."

    The statement warned that "the law makes the company a partner" in any attempt to breach the bookkeeping business "and stressed" the fight against corruption and the reduction of this phenomenon during follow-up, control and take strict measures. "

    http://66.102.9.104/translate_c?hl=e...sM1y4mkVELmKDg

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  11. #1006
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    Jordan's king reiterates support to Iraq

    Jordanian King Abdullah II Sunday reiterated the kingdom's full support to Iraq's security, stability and unity as the war-torn country faces an important vote on a security pact with the United States.

    The king made the remarks during a meeting with visiting Speaker of the Iraqi House of Representatives Mahmoud Mashhadani who arrived here on Sunday.

    Iraq's security and stability was important for the security of the whole region, the king said.

    For his part, Mashhadani said he appreciated Jordan's continued support to Iraq and efforts to preserve unity and sovereignty of Iraq.

    Their talks also covered bilateral cooperation and means to activate it in various fields.

    Iraqi lawmakers are expected to vote on a security agreement by Wednesday, which will keep the U.S. troops in Iraq until the end of 2011.

    The long-delayed agreement passed by the Iraqi cabinet last week and went to the parliament for reviewing. However, it has to be ratified by Iraq presidential council before being signed by both countries.

    PUKmedia :: English - Jordan's king reiterates support to Iraq

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  13. #1007
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    Iraqi President meets with Turkey's special envoy to Iraq

    Iraqi President Jalal Talabani met with Turkey's special envoy to Iraq Murat Ozcelik and an accompanying delegation in Baghdad today.

    The delegation delivered salutations of Turkish President Abdullah Gul and Turkish Premier Recep Tayyip Erdogan, to President Talabani and indicated Turkey’s preparations for an expected visit by Turkish President Abdullah Gul to Iraq.

    Erdogan is expected to meet with key Iraqi leaders including President Talabani during his visit to Iraq.

    President Talabani expressed his delight about the expected visit by Turkish President to Iraq, saying the visit would participate in reinforcing bilateral and historical relations between Turkey and Iraq.

    “Reinforcing bilateral and historical relations between Turkey and Iraq is an important issue, particularly in the aspects of promoting the Iraqi political process and the processes of rebuilding Iraq and its economy, which is in the best interests of both countries peoples.

    President Talabani explained the overall conditions in Iraq, shedding light on ongoing discussions by the Iraqi parliamentary blocs about the US-Iraq security pact.

    On his part Turkey's special envoy to Iraq, reiterated his country’s support to the Iraqi political process, stressing that Turkey is supporting US-Iraq security pact which “would reinforce Iraq’s independence and national sovereignty.”

    Iraqi deputy premier Barham Salih and head of Iraqi presidency office Nassir al-Ani attended the meeting.

    PUKmedia :: English - Iraqi President meets with Turkey's special envoy to Iraq

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  15. #1008
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    The Convention will not vote for the reform unless the current political reality in Iraq

    Leader, the Iraqi Accordance Front, MP Abdul Karim al-Samarrai said the Front would not vote on the Convention on the withdrawal of U.S. troops from Iraq unless the action would reform the current political realities existing in Iraq.

    Samarrai said in an interview with "Uzmatik" on Sunday, "The retreat of Iraqi Prime Minister Nuri al-Maliki for a formula collective leadership of the country, during the last period, is that it can not pass a Security Agreement with Washington."

    The Samurai, Vice-Chairman of the Defense and Security Committee in parliament that "Maliki invested powers as commander in chief of the Iraqi armed forces in the formation of councils of attribution, and that the employment of state funds for his party's political component to it, thus ensuring his election propaganda", indicating that the demonstrations Clans in the recent Iraqi cities that support the Security Agreement with Washington and raise the photo-Maliki is a serious turning point in the march of democracy in Iraq and reveal a unique power "as he put it.

    The boards formed mid-attribution of this year the invitation of Prime Minister Nuri al-Maliki told tribal elders and elders in the southern provinces to assign security forces, drew opposition from some advocacy of political powers as a way to win loyalties in the upcoming local elections, and expressed the Presidency of the Republic rejected the formation of councils in the letter of support Addressed to the owners recently.

    The leader of the Iraqi Accordance Front that "Iraqi Prime Minister Nuri al-Maliki torpedo during his final press conference all political partnerships in building the Iraqi state, and showed very clear marginalization faced by partners Maliki in power" as he put it.

    The Iraqi Prime Minister Nuri al-Maliki held a press conference last Thursday, which had sharply criticized opponents of the Convention who are demanding the release of detainees in U.S. prisons, considering these demands, political bargaining and internal issues not related to the topic of Security Agreement with the United States.

    He pointed out that the Samurai Accordance Front, "demanding written guarantees for the reform of the political situation in Iraq before agreeing to Security Agreement with Washington, contains several demands including a referendum on the Convention and implementation of the amnesty law and end the case Asahoat and amending the Iraqi constitution", he said.

    He denied Samurai "and grandparents agreement between the political blocs to vote on the Security Agreement on Wednesday," he said Declaration of the Presidency of the Iraqi parliament before the vote a "grave mistake".

    The House of Representatives announced on Saturday evening, closing the debate on Security Agreement with Washington on Wednesday and set the next date for a vote.

    He favored the Samurai, "the Iraqi parliament not vote on the Security Agreement with Washington on Wednesday, and fixing a new date for the vote after the adoption of a law ratifying the conventions and treaties which are discussed in parliament at the moment."

    The presidency of the Council of Ministers approved on Sunday the Security Agreement between Iraq and the United States so-called "agreement to pull troops out" and referred to Parliament for discussion, which in turn declared that the debate had ended around and put to a vote next Wednesday.

    http://66.102.9.104/translate_c?hl=e...lvmThAYTFHCvzA

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  17. #1009
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    Oil: Iraq's oil revenues exceeded 3 billion dollars last month

    spokesman said the Oil Ministry, on Monday, the proceeds of the sale of Iraqi oil amounted to three billion dollars and 110 Mlior during the month of October last October.

    The Assem Jihad told (Voices of Iraq) that "proceeds from the sale of Iraqi oil amounted to three billion dollars and 110 Mlior during the month of October last October, where the ministry issued 58 million and 902 thousand barrels per day during the same month across the northern and southern outlets."

    Jihad said that "quantities of oil exported from the southern port of Umm Qasr and Khor al-Amaya $ 42 million and 900 thousand barrels worth two billion and 507 million dollars, while the source from the northern fields via the Turkish port of Ceyhan nine million and 900 thousand barrels worth 603 million dollars at a price of 58.902 dollars Per barrel. "

    He noted that the purchasing companies for Iraqi oil amounted to 22 international companies from America, Asia and Europe in addition to the two Arab Jordan and Morocco.

    http://66.102.9.104/translate_c?hl=e...NZvu-WniW1zhng

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  19. #1010
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    Kuwaiti diplomat: What affects the security & stability in Iraq affects all neighboring countries

    Charge d'affaires of the Embassy of the State of Kuwait to Syria Advisor (Mubarak Alsuhajan) Kuwait is anxious to consolidate security and stability in the region, particularly those related to border security with Iraq. Alsuhajan said on the sidelines of the third session of the Commission on security cooperation and coordination of the neighboring countries of Iraq, which will begin later that Kuwait was keen on maintaining Iraq's unity and territorial integrity and restore peace and stability.

    He Alsuhajan Neighboring countries, especially Kuwait needs to being stable because what affects the security and stability in Iraq affects all neighboring countries expressed satisfaction with the stability of the security situation in Iraq and to improve better than it was in the past. He called for strengthening national unity in Iraq in order to achieve these goals and helping the Iraqi people to get out of the plight of the exercise of its natural role in the Arab, Islamic and international stressing the need for everyone to do so.

    The State of Kuwait in the meeting of the security delegation from the Ministry of Interior composed of Brigadier General Abdullah Nawaf al-Hamad rapid Brigadier General and Colonel Fayez Bouhmd addition to the Chancellor Alsuhajan Mubarak.

    http://66.102.9.104/translate_c?hl=e...27saP-_Y8QKhkg

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