Thread: Iraq/Dinar News. 09/05 to 01/14/07

Citigroup launches $70m structured facility for TBI - Zawya.com | Middle East Business News

Citigroup launches $70m structured facility for TBI
04 October 2006
DUBAI -- Citigroup, in cooperation with US Overseas Private Investment Corporation (Opic), yesterday announced the launch of a $70 million structured credit facility for the benefit of the Trade Bank of iraq (TBI), allowing it to issue letters of credit which would be confirmed by leading financial institutions.


The $70 million structured facility was arranged, structured and coordinated by Citigroup's Export and Agency Finance group.


By supporting the bank's reimbursement obligations to confirming banks via a special trust, the trust will facilitate the provision of goods and services vital to iraq's reconstruction after decades of international isolation. Specifically, the trust will only guaranty reimbursement obligations on TBI letters of credit that are not, or not entirely, supported by export credit agency cover. This unique facility represents the first time commercial lenders such as Citigroup and others are able to extend letters of credit in iraq that are not fully cash collateralised.


Consequently, the project is designed to increase the availability of financing for Iraqi trade transactions and to enable iraq to increase its funding capacity and allow it to re-enter the global financial community.

"Provision of trade finance for companies seeking to contribute to iraq's reintegration into the global economy will be key to iraq's reconstruction. By supporting the new Trade Bank of iraq, which was created for precisely that purpose, Opic's financing will accelerate iraq's reconstruction and involve an increasing number of international companies in the process," said Opic President and CEO Ross Connelly. Mohammed Al Shroogi, Corporate and Investment Banking Head for the Middle East at Citigroup, said, "We are determined to be part of reconstruction efforts in iraq and we are delighted to contribute towards promoting trade under the leadership of TBI."

BY A STAFF REPORTER

© Khaleej Times 2006

Editorial: The Last Opportunity
04 October 2006
The Ramadan Agreement for inter-communal cooperation, still being fleshed out, may be the last opportunity to stop iraq tearing itself apart. The plan for local neighborhood security committees, initially in Baghdad then throughout the country, is on the face of it, logical. The idea that these committees should include representatives from all iraq's communities, even when a district does not have a full mix of these, is laudable.


But is this scheme workable? Has too much blood already been spilt in sectarian violence for sufficient trust to still exist to make such a potentially powerful system of local policing work?


Some neighborhoods, particularly in the capital, have already created their own protective organizations. Most often however, militias control such mechanisms. In both cases, the motive is defensive. Opinions are frequently polarized. The enemy is seen as the guys in the other community. The idea now that neighborhoods would welcome representatives from among perceived rivals will be a hard one to sell. One of the political leaders negotiating the Ramadan Agreement described it as "a sham". Another said that Prime Minister Nuri al-Maliki had only launched the initiative as a result of US pressure. Some observers fear that legitimizing security committees to monitor neighborhoods will merely endorse the widespread control already exerted by militias or criminal gangs. It has also been pointed out that if a security committee of ordinary Iraqis proved to be at all effective at curbing the violence in a locality, its members would immediately become targets for assassination or intimidation.


Besides given that the rising tide of lawlessness is happening despite the presence of Iraqi police and army, to say nothing of the occupation forces of the Coalition, where could a local security committee turn with confidence if it wished to have back-up to deal with violent elements in its midst? There are clearly all kinds of problems with the Ramadan Agreement, causing some to suspect it will be a dead letter even as it is finally signed.


Nevertheless, Iraqis must ask themselves, what is the alternative? The bombings and murders pass a new peak of horror each week. The original killers from Al-Qaeda and unreformed Baathist insurgents are seeing all their wicked plans come to fruition. They have created a monstrous climate of fear and anger sufficient to set Iraqi citizens at each other's throats. In the growing chaos, they appear to be operating with ever-greater impunity.


How can this obscene rising tide of bloodletting and injustice be stopped? A single thought might help. Iraqis did not bring about this catastrophe. George W. Bush, one of the most ill-informed and purblind presidents ever to occupy the White House, did it for them. Bush turned iraq into the new battleground for international terror and fugitive Saddam loyalists. The struggle is between the Americans and fanatical thugs. Ordinary Iraqis, whatever their background and however great their fear, do not have to involve themselves in this. They can win a victory by putting aside their differences and working together.


© Arab News 2006

Editorial: The Last Opportunity - Zawya.com | Middle East Business News

AMERICAN GENERAL : wait for the al-Maliki disarm militias
Marines explore the east of Baghdad targeted by death squads

Baghdad, Abdel-Latif al-Musawi, the winner Jawad
He said the second man in the American military leadership in Iraq Peter Kairelli must address the issue of militias, there can be no armed militias compete with the Iraqi forces, but he should have confidence in the Prime Minister who is a must decide when to do so.
While explored American forces yesterday to revive the east of Baghdad under the control of militias of religious parties prior to the implementation of a military operation aimed at death squads responsible for killing thousands at a time force of American Marines backed by tanks attempted Obeidi neighborhood adjacent to the Sadr City, which is one of the most important strongholds of the Mahdi Army and the Badr Corps. The move American forces, which included conducting intensive patrols in the streets of this neighborhood after hours of a meeting attended by Iraqi Prime Minister Nuri al-Maliki, Adnan Al Dulaimi, head of the list of the Iraqi Accord and Tariq Al-Hashmi Iraqi Vice-President and Secretary-General of the Iraqi Islamic Party and Jalal small Islamic Council the Supreme Hadi Al-Ameri, head of the Badr Organization representatives of the Sadri trend, the Virtue Party and the National Dialogue Front, a list headed by Saleh Almtalk was an exception with existing Kurdish and the Iraqi List led by Iyad Allawi of the meeting which resulted in the formation of popular committees to oversee the security of Baghdad and the reduction of violence. For his part, Park American ambassador in Baghdad, Zalmay Khalilzad, said agreement at the time, Major General Rasheed Fleih spokesman for the Interior Ministry, the Interior Minister Jawad who is a warrant for the arrest of Major General is the eighth in the police and is one Avoajaha for questioning in the kidnapping of 62 workers from the neighborhood group south of Baghdad, carrying violations other security. Al-Maliki said after the meeting late Monday night that the conferees p. to stop the bloodshed and the adoption of effective political dialogue and constructive instead of violence. He added that the conferees agreed on the formation of subcommittees joint field in the areas of Baghdad composed of representatives of the political blocs, religious scholars and tribal leaders and dignitaries and representatives of the armed forces to deal with the imposition of the violence and to work to contain. While still finding bodies in the city that waves of sectarian violence. According to the poll, it is possible that the soldiers will return strongly to carry out cordon and search military commanders say the Americans it proved successful in reducing the activity of death squads in west Baghdad. He said Captain David Musik of the Joint Intelligence Committee of the brigade combat Mid no one wants to enter the area did not know anything about it. You must be sent reconnaissance units or not. Hayy al-Obeidi in the New Baghdad area that have been constructed in Alspaniyat during the oil boom. But today, the population of the crowded streets and slums suffer deprivation of basic services such as electricity and sewerage. But there is another problem, for a short distance through a narrow strip of land that used dumpsites for the corpses of victims of death squads, is Sadr City, the stronghold of the Mahdi Army. He said that around the 70th Musik% of the residents of Al-Obeidi are Shiites and therefore there will be groups of Mahdi Army. The exercise of these groups killings. The neighborhood Obeidi several challenges for the soldiers Faje Americans, who backs the population there. But Sadr City is the key to the security plan. And then the soldiers, for the first time, President street in the neighborhood of Al-Obaidi, leading to the city of al-Sadr were posted on the walls where pictures of the leader of the Mahdi Army of Muqtada al-Sadr and Hezbollah flags.

Azzaman International Newspaper-2517-Issue Date 4 / 10 / 2006

»Azzaman newspaper" international number-2517-date 4 / 10 / 2006

azzaman

Return queues in front of fuel stations in Baghdad

Baghdad Qusai al
The mobilization stations in Baghdad, the return of fuel queues of cars in the roads leading to it which heralds the return of the fuel crisis to what it was nearly a month ago. He denied media spokesman at the Oil Ministry said Assem Jihad, a crisis »stressing that the issue is not just the ordinary because of the crowdedness of the curfews imposed by the government in the past two days with the complete cessation of power, which caused refineries to a halt, in addition to the majority of citizens filling petrol cans different material for the operation Moldathm ", the »stressing that the scramble for power mobilization finished within two or three days. The Ministry has devised a contingency plan to address the situation through the increased pumping stations Al. The system of electric power in the central and southern regions has been extinguished completely before to two days after exposure to the acts of vandalism which have contributed to an increase in fuel crisis. He said one of the citizens told police standing in the queue »» learned that the time to wait for the fuel for more than 9 hours ", the He adds »We as Iraqis are accustomed to the various crises, including the fuel crisis staring us in a while and the recent crisis, which ended a month ago most difficult and harsh, But today anyway not to exacerbate the crisis, especially fasting and we have no capacity for us to stand in long queues Al recollections.
For its part, the company said Assembly for the distribution of petroleum products that the next few days would witness a breakthrough in the crisis relatively distribution of gas oil »kerosine got the citizens.
The director of the company that Hatab »Karim Al-Dawra refinery stopped work during the last few days as a result of sabotage against the lines feeding the liquidator of crude oil from one campus of Baghdad, 5 to two million liters per day of Alcazalmentj article in the refinery, causing scarcity in the distribution of this article Al.
There were conflicting reports on the problems in the import of oil derivatives from the neighboring countries because of different political stances with leaders of the Iraqis, With Sources at the Ministry of Health such leaks.
The acute crisis of fuel has swept Baghdad a month ago, causing a political crisis that led to recriminations between officials of negligence. The crisis led to the emergence of a category of emergency community represented by groups calling itself the nomination »sailors", the The totals for such a large role in the worsening of the crisis and the previous increase in the intensity of their mobilization gasoline cars several times a day in addition to the agreement with the feeble workers from the stations to provide additional gasoline filling Kzanathm modified and Ihamloh of small kegs »Gelekanan" for the purpose of selling in the market Her the ailment.

Azzaman International Newspaper-2517-Issue Date 4 / 10 / 2006

»Azzaman newspaper" international number-2517-date 4 / 10 / 2006

azzaman

The foreign ministers of eight Arab countries to Rice :
A Palestinian state in return for the reconstruction of Iraq and Lebanon

Cairo Mustafa Amara
Jeddah time
The Secretary of State Condoleeza Rice, who arrived in Cairo yesterday from Riyadh with eight Arab Foreign Ministers in Cairo birth of a new moderate Arab axis includes Egypt, Jordan, Cairo and the Gulf Cooperation Council states Saudi Arabia, Bahrain, Qatar, United Arab Emirates, Kuwait, Oman against Syrian Iranian axis, which also includes Ahs father and movements described Washington Balmcddh and include a number of them on its list of terrorist organizations, and impose economic sanctions on Tehran and Damascus while Rice began her talks in Cairo meeting with Egyptian intelligence director Omar Suleiman, who is supervising the file exchanging the Israeli soldier captive in Gaza, followed by another meeting with وز saw Egyptian Foreign Ahmed Abu Gheit before the start of discussions with the Minister of Eight invitation breakfast filed Aboul Gheit. The Arab diplomatic sources in Cairo told Al »decade : The Arab foreign ministers will call from Rice to push the peace process and to put pressure on Israel to accept a Palestinian state based on the Arab peace initiative at the Beirut summit and the principles of the Quartet to participate in the financing of stability and reconstruction of Iraq, Lebanon, and these are the files that are of concern to participants in the meeting on top priority charges. He said Jordanian Foreign Minister Abdullah al-Khatib that the eight Foreign Ministers will pay during their meeting with Rice, the direction of giving priority to the Palestinian issue and resolve it is the fundamental issue in the central region. He stressed that the continued lack of resolve is the reason for frustration among peoples and tension in the region. With Aboul Gheit denied that the aim of the meeting is to form a new hub after talks with Rice, who said they dealt with the Middle East peace and the issue of Darfur and to avoid addressing any other subject. The Beirut summit had adopted a Saudi guarantee approval of the Arab states to recognize Israel in return for accepting the withdrawal from the territories it occupied in 1967 and establishing a Palestinian state. But former Israeli Prime Minister Ariel Sharon rejected the initiative by Syria also rejected the only state that Israel occupies part of its territory and the Golan Heights. For her part, the sources said in their statements that the meeting was not the center also nominate Rice has gone era hubs afterthought but there is a desire and determination to resolve the problems of the region.
Rice said yesterday at a press conference in Jeddah with Saudi counterpart Saud Al-Faisal, it is essential to help moderate forces in the face of extremist forces in the Middle East, namely to Washington Iran and Syria, Hamas and Hezbollah.

Azzaman International Newspaper-2517-Issue Date 4 / 10 / 2006

»Azzaman newspaper" international number-2517-date 4 / 10 / 2006

azzaman

Latest news : Permit issued by the Ministry of State for National Dialogue



In the first and largest gathering of parties and forces and political figures in the Iraqi capital in Baghdad for decades and under the banner of (Iraqi national forces will remain the cornerstone of national unity and to ensure a real success of the political process and the comprehensive national reconciliation).

State-sponsored and Mr. Prime Minister Nuri al-Maliki sponsor of the initiative of national reconciliation, there will be a conference of political parties, movements and organizations and prominent Iraqi political Nazelt yesterday against dictatorship and totalitarianism is now struggling to complete elements of national sovereignty and reconstruction and the fight against terrorism and to build a state of law, human rights and welfare of the citizens of Iraq and the Democratic Unionist ALMAO a committed indigenous cultural identity. The venue of the conference the Iraqi capital, Baghdad time in the 21. 10. 2006 approved for another Saturday in the holy month of Ramadan

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News The continuing activities of the secretariat : Baghdad



Still municipal districts of Baghdad Secretariat is working hard to complete the clean-up operations and maintenance of sewage networks and stations and clothing and the surfacing of roads and garbage collection in the light of its major services for the development of a pan of Baghdad. .

The media spokesman for the secretariat of Baghdad that the municipality torch has several activities during the past week in the provision of municipal services to the effect that the hygiene campaign to raise substantial waste in the nursery area of freedom, and the health Aljawadin was lifting quantities of waste to the tune of 2500 and the ruins of three estimated hoarse and to 30000 tons with the agricultural section in the chamber campaign to raise the jungle, and agricultural residues and the opening of drink and agriculture on various plant species. The spokesman for the Department of Rehabilitation and sewer maintenance and cleaning of sewer systems and the length of 20000 m and cleaning Menhol 580 and 1160 and the opening of 180 networked blocking reform and three Takhsvat addition to the water reform Section 55 break and the water trickle in the net. The spokesman for the Division of Information and awareness of the Municipal Trial mentioned in a symposium and expanded under the title (excesses obstacle in the development of our city) to discuss the subject of abuses and the presence of tribal chiefs and dignitaries in the city and representatives of political parties and organizations, civic awareness and the local council of the city of the torch with the distribution of the propellant charges

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Latest news : The signing of the Charter to address the violence with continuing bloody attacks



Signed political blocs to close the era of "stop the bloodshed in Iraq and the prohibition of blood" to ease sectarian tension in the country. It is scheduled to hold a meeting blocs supplementary today for the application of the agreement.

This development comes as the country witnessed yesterday a new bloody day which found dozens of corpses and incurred American forces and British losses in the ranks of four deaths. It was announced the signing of the agreement Prime Minister Nuri al-Maliki after meeting with the leaders of the political blocs yesterday evening. The plan includes four points out of the creation of local committees in each area of Baghdad includes representatives from each party and tribal leaders and the leaders of the security forces and the army to end the violence. The second point is the formation of a central committee for coordination between these committees and the leadership of the armed forces, With third point relates to the imposition of restrictions on the media, the fourth point relates to a monthly review of the plan. The head Accord Front Adnan Al-Dulaimi this initiative as powerful and asked various actors to make it a success to stop sectarian conflicts, He warned that failure to stop the bloodshed, "will end on Iraq in all of its elements." Al-Dulaimi and pointed to the existence of issues to be agreed upon between the parties Tuesday, including a plan for the full implementation of this agreement. For his part, Sheikh Jalal Al-Din described the young deputy of the Supreme Council for Islamic Revolution in Iraq, the agreement as a step in the right direction. In response to the demands of Sunni Arabs to disarm the militias that the meeting Tuesday would discuss "the position of the militias and terrorist groups alike." In a first reaction to the American ambassador Zalmay Khalilzad and General George Casey, commander of multinational forces in a joint statement by the selection. Considering that "this Convention nodal four aimed at uniting the Shiites and Sunnis to reduce sectarian violence and stop it permanently." But the statement went on to say that there is a tough task awaits Iraq's leaders for the application of this plan, which was described as in the right direction. The support of Washington to them. The Zalmay Khalilzad had said earlier that the main threat in Iraq is the work of sectarian violence, and that it is not the government only two months to begin to contain them. The signing of the document on the day of the attacks witnessed in which at least 15 people, including security personnel, at a time when the police announced the killing of prominent leader of the al-Qaeda network in southern Kirkuk named Saad Aleriashi trader. As the series continued to find the bodies of the abductees, which numbered 50 unidentified bodies in Baghdad killed after being subjected to torture us all. It was announced yesterday for the abduction of 14 people from the shop selling computers, just one day after the kidnapping of 26 people from a neighborhood group of meat plants at the hands of members of official cars, according to eyewitnesses

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Economic : Establishment of the first Iraqi company for bank guarantees

The aim of activating and intensifying the productive and service projects
Baghdad-Yasser incumbent
The banking sector, the establishment of the first Iraqi company for bank guarantees capital of five billion and 450 million Iraqi dinars. He said a member of the company's board of this company that includes 11 Iraqi banks, it is hoped direct activity late October and the current ensure small and medium loans ranging from five thousand to 250 thousand dollars.

He explained that the loan amount prescribed by the Bank based on a feasibility study provided by the beneficiary after the analysis of data and then the bank introduced the company which will, in turn, analyzed the data and information to ensure the acceptance of this project.
He stressed that this mechanism will contribute to achieve several objectives including the operation of the productive and service projects and the impact on the absorption of labor and contribute to tackling unemployment.
Board member pointed out that the company is encouraging female component of the project (sme) of small and medium-sized enterprises. Thus, the foundation for Aisthan in community capacity development in the center.
He said the Registrar of Companies had ratified the establishment of this company, which enjoys the support of the Central Bank. Iraqi, pointing out that a minimum of shares is 400 million dinars called other banks to join the company.
A member of the company also said that this achievement is also in the development of performance of banks and raise productivity through the launch of Qarawdhi to stakeholders and laboratories and companies.
It pointed out that the number of private banks in Iraq, the 24 banks had progressed significantly during the previous four years stressing the quest for the development of banking services in Iraq commensurate with the volume of activity expected after the launching of the construction and reconstruction of Iraq.
Member of the Board of Directors also confirmed that the company based its activity on international standards adopted and that the premiums paid dates outside Ha contexts where the old Governing Council had been informed of the nature and activity of the experiences of companies similar in Oman and Lebanon.
And that preparations are under way to prepare the size of banking, through changes in courses for credit officers on new ways of lending.
He concluded by pointing out that the loans were open : commercial and service sectors, productivity and industrial and agricultural. Thus, the company will operate and activate the performance of the productive and service projects stalled due to funding.

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Didn't know if already posted.

The House resumes its normal tomorrow to discuss a number of draft laws

The House resumes its normal tomorrow to discuss a number of draft laws. During yesterday's meeting the second reading of the law on investment and operational procedures for the formation of regions. The meeting also witnessed significant differences of the members of Parliament on the draft law of the provinces, which led the Board to resort to the legal committee and the Committee of the Regions, to resolve the dispute. After reading the two decided the bill, which was read as the first, with the inclusion of the controversial views of the project, provided that they were not in violation of the Constitution. After Almshahadani suggested to the Committee on Non meeting and the election of Chairman after a meeting between the deputies films on the subject.


NOAA
10/3/2006

Radio Nawa