Thread: Archive - Latest News Think Tank - 15/01/09 - 04/05/09

Alshihhi confirms desire to Barham Salih, the UAE investment in Iraq

Deputy Prime Minister Barham Salih, the Ambassador of the United Arab Emirates in Baghdad, Abdullah Ibrahim Al Shehhi.

The Deputy Prime Minister Barham Salih, during his speech to the United Arab Emirates, a special place among all Iraqis, and the price of the positions of the late Sheikh Zayed bin Sultan, and the leadership of the UAE and their support for Iraq in the most difficult circumstances.

Stressing that the door open for UAE companies to come to Iraq and the investment and take advantage of the great investment opportunities.

Adding that the opening of the Embassy of UAE in this important historical era, to build bridges of friendship, love and cooperation and will contribute to strengthening the special relationship between the two countries.

For his part, sought Alshihhi UAE government and people to make every effort to support Iraq and UAE companies and the encouragement of government officials in the UAE is willing to come to Iraq and investment in various sectors including the sectors of oil, energy, electricity, construction and housing.

The two sides agreed to make efforts to activate the work of the Joint Commission between the two countries, which will emerge for several commissions to strengthen the ties of economic and cultural cooperation and tourism.

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Baghdad Chamber of Commerce calls for the involvement of the private sector in the development of texts belonging to the investment law

Chairman of Baghdad Chamber of Commerce Amjad Jubouri responsible involvement of the private sector in the development of texts and paragraphs after the announcement of the investment law, the desire to amend certain paragraphs of the Act.

Jubouri said, told the independent press (Iba) today, Wednesday, that the investment law, and based on the basic elements of the private sector is the trade of Baghdad, the conference includes more than 300000 companies and traders and businessmen, and this means we are the true representatives of the private sector and trade in Iraq and the room has a dip by those who have experience in market. He criticized the authorities for not putting this into account (as he put it).

He added that what is important is to participate with the state in support of investment projects during the recent visits to the EU countries and the meeting of many officials and businessmen in France, Italy, Belgium and Germany have seen a genuine desire to establish investment partnerships in Iraq and to contribute to the reconstruction and construction.

Jubouri called the National Investment for the establishment and the holding of seminars and meetings with the countries of the European Union and the agreement with the owners of large and medium sized companies and activating joint cooperation with them. Indicating that the rights of these companies and businessmen thanks to the content of the atmosphere experienced by the safe Iraq.

He said that the Iraqi economy is still at the stage of recovery, which requires the removal of obstacles and difficulties faced by the private sector.

Jubouri and continued after the change experienced by Iraq, the view state of the economy are set out on the basis of a free market economy, but not to the fullest extent and thus emerged the need for new economic laws fit with the nature of economic developments on the Iraqi arena.

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Decline in the sales of the central water bottle

the U.S. dollar sales were recorded in the Central Bank of the auction sale and purchase of foreign currency, on Wednesday, a significant decrease was 97 million and 765 thousand dollars against 201 million dollars, at the previous meeting.

The bulletin issued by the Central Bank received the agency (Voices of Iraq) a copy of which was that "the total volume of demand for the dollar stood at 97 million and 765 thousand dollars at the exchange rate was stable compared to 1170 dinars per dollar."

The Bulletin that "the distribution of demand for the dollar by 43 million and 470 thousand dollars in cash, while the value of remittances outside the country 54 million and 205 thousand dollars," did not make any of the 13 banks participating in the auction, offers to sell the dollar.

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Parliament divided on 2009 budget

Budget deliberations have entered their third month in Iraq and 2009 allocation are still hold up at the Iraqi parliament.

Certain government departments have already consumed all their 2008 money and the Migration and Displacement Ministry says it has stopped repatriation of Iraqi refugees from neighboring states due to lack of cash.

But the deputies are still haggling and some have accused the government of presenting an unrealistic budget in which there is a huge gulf between revenues and expenditures.

They have called on the government to slash unessential expenditures by at least 15% excluding pensions, salaries, social security and food rations.
Sami Atroushi, a Kurdish deputy, said the reduction was necessary due to the recent drops in oil prices.

Oil price gyrations in the past two months have made many deputies skeptical about government’s revenue estimate for 2009.

“The deputies are almost unanimous to introduce the toughest transparency and accountability measures with regard to this year’s budget,” said Qassem Dawood.

Most criticism has come from the gas and oil commission whose members have been busy producing evidence that government’s revenue estimates are unrealistic.

“The government has built the budget on earning an average of $50 for each barrel of oil it exports. That figure is far beyond other oil producing countries estimates and prices in the past two months have hovered way below that average,” said Nourideen al-Hayali, a commission’s member.
Iraq currently exports about 1.9 million barrels a day and there are no indication of any substantial hikes in the export volume.

“We are in need of a very lean budget in the light of trends in oil prices and current financial crisis,” he added.

The government has presented the parliament with a $62 billion budget but the deputies say the figure is bloated and revenues, given the current volatility in international markets, may lead to a revenue deficit of more than $30 billion.

“This situation is going to tragically boomerang on the whole economy,” Hayali said.

Younadam Kanna said deputies feared the government would try to meet the shortfall by drawing on central bank reserves.

“I am afraid the parliament may not pass the budget in its current shape unless the government comes forward with a plan on how it is going to collect the estimated revenues without harming the country’s hard cash reserves,” he Kanna added.

http://www.azzaman.com/english/index...03-04\kurd.htm

Rafidain start to provide excellent services for retirees

Began Rafidain To provide distinguished service for retirees who receive their salaries from all branches of the bank, where the number of civilians, retirees. Fifteen thousand seven hundred and forty-four and retired them to the amounts spent seven billion and thirty million, one hundred and ninety-three thousand dinars.

A source in the ministry of the reporter (and the Iraqi News Agency Information / INA) The number of retired military 17210 seventeen thousand two hundred and ten pensioners and the amounts disbursed to them five billion four hundred and twenty-six million four hundred thousand dinars, while the The total number of retirees who receive their salaries from the Bank of Iraq has reached 35,954 A retired and the amounts disbursed to them twelve billion four hundred and fifty-six million five hundred and ninety-four thousand dinars. He said, adding that retirees spend more than more than twelve billion Iraqi dinars.

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Maliki is that the results of the elections has destroyed Iraq's steps

Prime Minister Nuri al-Maliki that the results of recent elections has the desire of those "enemies of Iraq" by dividing it.

This came during his meeting with a number of sheikhs and tribal elders Messrs. Mahmoud Amoosoyen Po.

The official statement said that the election results if the results were otherwise carried out the will of the enemies of Iraq desire convenient, but when people put the paper in the fund stopped division and sectarianism.

He added, "We congratulate each of said yes or no in the election because they deserve respect and certainly those who participated in the elections resulted in a national duty and legitimate and we want everyone to continue on this road."

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National Authority for Investment hosts delegations of Germany to discuss ways to invest in Iraq

Met with the delegation of the German government is represented by members of the German companies to invest in the National Office of the Prime Minister to discuss how German companies to invest in Iraq.

A statement of the Commission ", the delegation briefed on the investment law and privileges and facilities granted to investors."

He explained the role of members of the single window to contribute in facilitating the actions of investors, calling German investment companies to take advantage of the opportunity to speed up the investment aspects of the current industrial, agricultural and housing, appropriate to the airspace, and the presence of a large profit margin.

The two sides also discussed the possibility of the transfer of German technology to Iraq, particularly in the area and the role of investment banks.

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Baghdad looking forward to the membership of the World Trade Organization to strengthen the economy

Commerce Minister said that Iraq Yarrub blocked by falling oil prices, his plans for the reconstruction could get a boost strengthen its economy to join the World Trade Organization.

He added in a statement after meeting with U.S. officials in Baghdad that "Iraq has all the ingredients to ensure that the joining of the Organization."

But the violence in Iraq, but strongly the government of Prime Minister Nuri al-Maliki is increasingly disturbed by the implications of the decline in oil prices on the plans to provide basic services and job creation.

Has dropped the price of oil, which represents more than 90 percent of government revenues by more than $ 100 from the record level reached in July, higher than $ 147 a barrel.

According to WTO, Iraq submitted a membership application in 2004 and held another meeting of the relevant working group in April to consider joining in April 2008.

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Iraqi banks adopt the advanced electronic network

Aerakiip adopted by banks in the country will contribute to an advanced electronic network to facilitate the flow of liquidity payments and the transfer of remittances freely and safely between private banks and the Central Bank in accordance with digital data and information under the control of the central bank.

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The U.S. Agency for International Development to support Iraq's accession to World Trade Organization

Managers across the U.S. Agency for International Development (USAID) in Baghdad fully prepared to provide the necessary assistance and support required for the purpose of Iraq needs to accelerate and facilitate the process of accession and full membership of the World Trade Organization.

This came during a meeting with Dr. Abdul Falah Hassan, the Sudanese Minister of Trade and the relevant managers at the U.S. Agency for International Development (USAID), where they were searching in a number of important issues of common concern.

The minister said in a press release that he had offered during the meeting, detailed the efforts of Iraq and the ongoing pursuit for full membership of the World Trade Organization (WTO).

Adding that he was touched as well as the stages made by Iraq in the accession requirements by creating a necessary and essential for the next stage, especially as related to the preparations for the convening of the meeting of the working group which is negotiating to join the Iraqi side of the world Organization.

The minister also said that Iraq had all the elements to join, and to obtain full membership in the WTO will bring substantial benefits to Iraq, especially in the economic and commercial fields, and activate and confirm the leading role of the Iraqi economy in its international and regional levels.

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