Thread: Archive News - Iraqi Dinar Think Tank - 06/05/09 - 04/09/09

Dollar exchange rates are recorded on the Iraqi market volatility

A source in the banking pond bank in Baghdad that the exchange rate of the dollar against the dinar has fluctuated over the transactions which took place on Thursday.

The source said the sale price of the dollar rose to 1250 dinars to the dollar after the rate of 1170 dinars, and then back down to 1222 and then rose to 1223.

He added that the price is currently unstable, and many of the banking offices of the U.S. dollar selling prices differ from one another, according to the request, stating that the price range between 1222 and 1225 dinars to the dollar.

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Central Bank is following the dollar exchange rate in the local market

A source at the central bank noted that during the past two days, an increase in the exchange rate of the dollar in the domestic market.

He pointed out that the central bank had no intention of changing the mechanism adopted in the sale of the U.S. dollar for the banks to cover the needs of the Iraqi private sector.

And the transfer of a government statement said the central bank now covers the private sector imports, without any limitations, at the price declared by the Central Bank, through Iraqi banks.

The local market over the past two days have seen an increase in the price of the dollar, as the price of exchange (1200) dinars to the dollar.

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The prices of futures contracts for oil under 58 dollars per barrel

Futures prices fell for the highest levels of oil under the deal to $ 58 a barrel.

The media source in the Ministry of Oil futures prices fell after the close of the highest levels in six months, supported by optimism about economic recovery, which may ultimately support the demand for oil.

He said Oil Minister Hussain al-Shahristani earlier investments that Iraq has recently signed for the development of oil production capacity will increase to 6 million barrels per day from about 2.5 million barrels per day, and also add new refining capacity of 840 thousand barrels per day.

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Different positions of intention of Parliament questioned Minister about decline in oil production

Asked the Commission on oil and gas to the accountability and Oil Minister Hussain al-Shahristani, the reasons for the deterioration of oil production in the past three years, which represents the time spent by al-Shahristani at the head of the ministry, as well as the reasons for suspension Export of oil from the Kurdistan region.

The Chairman of the Commission on oil and gas representative, Ali Hussein, Blue told the correspondent of the "Radio Sawa": "We in the Commission on oil and gas minister questioning the fact that oil is a source of livelihood for the people of Iraq as well as the possibility to export between 100 to 150 thousand barrels of the Kurdistan region. We have received our approval by a majority of the members of the Committee. "

For his part, the Vice-Chairman of the Abdul-Hadi al-Hassani al-Shahristani, the need to host the Minister prior to being questioned, pointing to the existence of political aims behind the call for accountability in the House of Representatives.

And the President of the Integrity Committee in the House of Representatives this morning Sa'idi part, that a refusal to interrogate a number of ministers by some of the parliamentary blocs, represents a major failure in the activation of parliamentary oversight.

Is noteworthy that the differences between the Federal Government and the Kurdistan Regional Government on the powers of each file in the management of oil fields was one of the most important reasons for the Presidency of the parliament to postpone the discussion of the law of oil and gas, reliable mechanisms for determining the eligibility of the contracted oil fields to invest in the country.

With the view of Baghdad, the need to manage the export operations and the extraction of oil, for its part, insists Irbil from the constitutionality of the contracts concluded with a number of foreign companies for oil exploration in the territory of the Kurdistan region.

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Parliament decides to interrogate and Trade Minister Abdul Falah Sudan next Sunday

Iraq's parliament has decided that its meetings would be on Sunday for the host or the questioning of a member of the E.xecutive branch to be Trade Minister Abdul Falah Sudanese first to be questioned at a meeting of 16 of the month of May.

This was emphasized by the "Radio Sawa" independent MP Wael Abdul-Latif: "the House of Representatives decided that its meetings would be on Sunday for the host or the questioning of a member of the E.xecutive and the meeting of 16 of the month of May will be devoted to the questioning of Minister of Commerce."

The Abdul Latif said that consultations are underway to host Prime Minister Nuri al-Maliki to inquire about the security breaches in the capital Baghdad and some other cities as the commander-in-chief of the armed forces, saying the ministers and officials who will be hosting the meetings, or interviewed in the next parliament, parliamentary blocs, the agreement:

"There are many requests to interrogate a number of ministers, including the questioning of nominated ministers of trade, transportation and oil and hosting the President of the Iraqi Media Network as a new office, and proceeded to host consultations of Prime Minister Nuri al-Maliki, in his capacity as commander-in-chief of the armed forces."

It was scheduled to host the House of Representatives at its former security minister and the leadership of Baghdad, but the minister did not attend and only a host of command in Baghdad, Defense and Security Committee of Parliament.

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The next..Kuwaiti agreement to close the file of compensation.. meeting will be crucial

A senior official at the Iraqi Foreign Ministry, the agreement between Baghdad and Kuwait, to close the file of the compensation of the Iraq invasion of Kuwait in 1991, in addition to the guide to resolve the demarcation of their border as well.

Said Mohammed al-Haj and the Undersecretary of the Ministry of Foreign Affairs of Iraq, told «Middle East, said that« the issue of reparations imposed on Iraq, the resolutions of the UN Security Council, and a large part of such compensation had been settled, either through payment or cancellation by the Paris Club agreement ».

The Al-Hajj about the compensation of Kuwait, that he «had been paid the bulk of the compensation to the Kuwaiti side, leaving only 27 billion dollars, and Iraq can not extinguish the remaining only through dialogue with the Kuwaiti side, and also the decision of the Security Council, which called on Iraq to hold talks under the umbrella of the United Nations ».

The Haj «met with Kuwait two weeks ago and agreed to negotiate with them to close this file, and the resolution of the issue of balance of compensation, and the first meeting was positive, and there is the desire of the parties in resolving the matter resolved and it is hoped the second meeting».

The Haj, he «So far, none of the parties to submit any proposals in this regard, all that happens is an agreement to meet and negotiate, it is hoped also to make proposals at future meetings». On the demarcation of the border with the Kuwaiti side, said Al-Hajj, said that «This is a special character, this is the first time in the history of the United Nations and the history of international relations, the Security Council and to determine the demarcation of the border between the two, through the Security Council resolution, but everybody knows that the issues of border issues bilateral between the two, but the Iraqi-Kuwaiti border intervention by the Security Council, and has identified certain limits, and everyone knows that the development of the former regime and the imposition of sanctions have led to this conclusion ».

Al-Hajj said, «Now we have to install these limits approved by the Security Council and our work, and for the land border, the work is under way, but we have some problems on the border of water, especially at the point of the Khawr Abd Allah, it is essential to an understanding with the Kuwaiti, and there is a between the parties to resolve this matter », pointing out that« the Security Council resolution in this area is not clear, it is the median line of the Khawr Abd Allah and walked, and this would happen, the problems related to navigation and the rights of Iraq, must be understanding, to the Iraqi Navigation Vniz hundred per cent, Iraqi ports and manages the navigation is now, is, however, Kuwaiti, and this needs to reorganize and understanding with the other side ». On the Iraqi borders with other neighboring countries, the Undersecretary of the Ministry of Foreign Affairs, that «Iraq's borders with Saudi Arabia, Jordan, Syria and Turkey-specific, under the conventions and does not have any problems or disputes, everyone agreed, and spoke with all the violations of the normal states, such as the entry of intruders, and events real-time, and the borders with Iran, it is also defined by the old conventions, and we are now in the process of review, not conventions, but the re-demarcation of the pillars of the establishment of new and new work.

The Haj, «it was agreed with the Iranian side of the formation of committees of the land boundary and water, and began its substantive work, which may take some time, and after things return to normal, and the problem will be solved once and for all, including the issue of the Shatt al-Arab and the land border, and continue to implement the provisions of the conventions» .

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Sami Atrushi an amendment calling for the oil and gas law

Called for the Finance Committee in the House of Representatives Sami Atrushi to make some amendments to the laws and resolutions, including old oil and gas law.

Atrushi He told the press that the legislation of the independent oil and gas law and the reform of the banking system and methods of implementation of the contracts is the gate of the introduction of foreign investment.

He said, adding that the delay in the oil and gas law for more than two years for political reasons have caused the loss of billions of dollars in Iraq, whether to delay the use of existing fields, as well as extracted in Kurdistan.

A member of the Finance Committee that there is a third barrier methods of licensing and contracts, which depend on bureaucratic procedures and the system does not rise to the level of attracting investors and even confound self frustration, as he put it.

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Bayazid Hassan NOUAN: delay the adoption of a law of oil and gas due to the political blocs

A member of the Commission on oil and gas in the Iraqi Council of Representatives Bayazid Hassan delay adoption of the law of oil and gas due to the political blocs, noting that all the blocks are not compatible to the passage of the law.

Hassan said in a statement to Radio NOUAN the issuance of the law is in the interest of the Iraqi people, stressing that Iraq is in dire need of substantial revenues.

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The International Arab Banking Summit in London in June

Union of Arab Banks announced its readiness to establish the International Arab Banking Summit in collaboration with a number of Arab and regional organizations concerned with economic affairs in June.

A statement of the agency Tqlth independent press (Iba) said Saturday that the goal of the summit to be held in London from 25 to 27 June was to discuss strategies for the post-financial crisis and a return to fundamentals as well as to show the importance of strategic partnerships that lead to the strengthening of mutual relations.

He added that the summit will focus on developing and strengthening the banking infrastructure of banks and financial institutions, especially after the crisis and avoid the consequences of their interactions, which affected the real economies of many countries in the world.

N and the statement that the EU organized a number of activities including the annual International Arab Banking Summit in a number of global cities such as New York and Montreal, Frankfurt, Rome, Brussels and Paris. He pointed out that the reason for the choice of London to hold the next summit as the most important financial and economic capitals this year.

It should be noted that the British capital London, has embraced the end of the month of April, the international investment in Iraq, the participation of companies and businessmen from various countries of the world.

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Chairman of committee for oil and gas: we want Iraqi oil minister to be questioned

PUKmedia Erbil 09-05-2009 11:47:51

Members in the Iraqi committee for oil and gas called for summoning the Iraqi oil minister Hussein al-Shahristani to the Iraqi parliament, due to the deterioration of oil production in the past three years, which represents the time spent by al-Shahristani as the Iraqi oil minister, as well as due to halting the export of oil from the Kurdistan Region.

The Chairman of the Iraqi committee for oil and gas, Ali Hussein al- Balu told Radio Sawa "We, the majority members of the Iraqi committee for oil and gas, called for questioning the Iraqi oil minister since oil is the main source of living of the Iraqi people. Moreover, there is the possibility to export between 100 to 150 thousand barrels of oil from Kurdistan Region.”

Chairman of the Integrity Committee in the Iraqi council of representatives Sbah al- Sa'idi, said that refusing the interrogation of several Iraqi ministers by some parliamentary blocs, is represented as a major failure in activating the parliamentary monitoring.

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