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

Kurdish welcomed the signing of the Covenant between the political blocs

(Voice of Iraq) - 05-10-2006 | This issue was sent to a friend

Baghdad-time
Dr. Fouad Massoum welcomed the head of the Kurdistan Alliance in the House initiative by the government under the name of »the document the Al. The Massoum told radio yesterday that the document aims to strike a balance between the political forces, signatories of the Sunnis and the Shiites to stop the bloodshed. He pointed out that the involvement of masses in the political process aimed at the application of the concept of the government of national unity representative of the Iraqi people and to eliminate terrorism and extremism. The Nuri al-Maliki Prime Minister of Iraq, announced on Monday that he and the leaders of the political blocs and all signed the document and described them in the era of collective initiative to stop the bloodshed in Iraq.

Sotaliraq.com

Badr Gillan *
Legal expert and banking *
The government of the Principles during the more than thirty years ago has issued numerous resolutions and provisions to encourage the entry of foreign investments into the country, notably the decisions by encouraging private investments to enter the Arabian Gulf, which granted many privileges and exemptions and special projects for the land titling Might j, for example, to that end




In addition to their holding several bilateral agreements related to the regulation of investment and the movement of capital with a number of Arab countries as well as collective agreements on the scope of the League of Arab States, particularly the Convention on the Regulation of transition and capital investment, all those efforts and the conventions were brother succeed in the temptation of Arab capital and foreign to enter Iraq for reasons known stands in the forefront of the war kindled by the Principles and the relevant nationalization and economic policy EgyptAir march by for the past period, which lost credibility and confidence in the system.
Although many of the Arab countries, especially for imported capital had begun special laws to regulate the entry of foreign investments and to the Arab and given a lot of privileges and tax exemptions and customs designed to stimulate participation in the development process and the transfer of technology. However, Iraq's failure to develop S44 n particular investment despite its eagerness to bring capital as we have previously remained the case as it is until the fall of the Principles in the April 9, 2003.
It is known that after the entry of coalition forces to the civil administrator in Iraq issued Resolution No. (39) on the organization of foreign investment, in the context of application inefficiencies in Iraq. However, this resolution (the law) has been dysfunctional for the last three years for lack of objective conditions of its implementation as well as it lacks many of Ahk Or needed and necessary to regulate investment and defining the rights and obligations of foreign investors for that multiple attempts were made by some stakeholders, especially the Ministry of Planning and Cooperation and Development to develop the alternative, but those efforts have not succeeded.
Since the process of economic development in general require adequate sources of financing and our country is suffering from a large gap in the provision of funds for investment because of the scarcity of sources to provide the necessary income and the limiting of the foreign currency to emanate oil exporter, where oil revenues constituted 92% of budget revenues a for general of the State in 2006, it was necessary to establish a national law governing entry to invest Arab and foreign investments, especially since our country has adopted the policy of allocative all dimensions. In the light of this trend has prepared a draft investment law, which we hope will be a quantum leap in supporting the economic movement and the transfer of advanced foreign technology.
We have received a draft bill in the article (34), were distributed among seven chapters spoke of the objectives it seeks to achieve law and the means used to achieve these objectives and the formation of the Investment Authority, which will be the application of the law, duties and their relationship to investors also included a number of privileges and guarantees granted to the capital and only Faat enjoyed by the investor obligations and also addressed the procedures for the granting of leave and the establishment of investment projects and other miscellaneous provisions .
Through quick look at the draft law that we believe need to add many of the provisions necessary to regulate the entry of foreign investments and how to employ and develop the effectiveness of exemptions within the framework of the foreign investor, as well as the organization and duties towards the host country in a clear and defining the role of the Investment Authority, clearly P j implementation of the law, in addition to the diagnosis of sectors open to foreign investment, we believe that the draft needs to be re-examined in many of the materials, for example, is not limited to believe at the outset that the language and terminology contained in the body of the project and identify remembered in the introduction to the law and in a separate article, as well as a breakdown the fields in which investments can be just as stated in the Investment Law which was launched recently in the territory Cordstan which identified areas of investment are in the manufacturing, electricity, public services, agriculture, health, scientific research, technological development and infrastructure, education and the free zones and so on. As the draft law did not address how to exploit land to be allocated for the projects and the responsibility of the state to provide essential services from water and electricity, roads, sewer and others. Also, the real estate housing for workers or for the purposes of the projects, departments and address the irregularities committed by the foreign investor may lease land as a subcontractor to other uses for the project also lacked the project is to identify the functions of the Investment Authority in a clear and defining their terms of reference and their relationship to the districts of Waldo it requires different than organizing this side and not left to the rules of procedure as well as the project neglected to identify the grades of the members of the Board of representatives of the state, as well as the lack of competence to identify the representatives of the private sector.
We believe it is necessary to look Madoa project to such matters of substance and other gaps and avoided in the proposed project in light of many of the laws passed in the area of foreign investment and provide the appropriate investment environment for the entry of foreign capital and benefit from the experience of developing countries, which o Bqatna in this area, including investment laws of a number of Arab countries, especially Egypt and Jordan, for example.
However, it is still in ample time to avoid those gaps and deficiencies and redrafting the proposed project in light of many of the observations, taking into account the benefit from the advantages involved in the investment law in the Kurdistan region or any law Achrokhash in Arab countries.
Translated version of http://www.alsabaah.com/

Al-Maliki : We are in the final stages of confronting the security challenge

(Voice of Iraq) - 05-10-2006 | This issue was sent to a friend

During a reception dignitaries and Sadr City. Al-Maliki : We are in the final stages of confronting the security challenge


Baghdad / commoners hailed
Prime Minister Nuri al-Maliki that the era of coups Crown Achermarhlh We in the face of the security challenge and will move beyond the current conditions in the next two or three years.
This came during his meeting yesterday with his office and the official delegation of tribal elders and dignitaries in Sadr City.
He added : Maliki We must get this city to its proper place in the area of services and the distribution of land to the city's population of the events relaxation of population and this requires measures to convert agricultural land to residential and ask companies to build housing complexes and this does not apply to Sadr City, but according to all Iraqi cities that suffer from the problem of Els Be affirming that every Iraqi will have a house to live in it.
For their part, the Senate and the dignitaries of Sadr City for their support of the government.

Sotaliraq.com

Saudi Arabia reveals a fence with Iraq to prevent infiltrators

(Voice of Iraq) - 05-10-2006 | This issue was sent to a friend

Riyadh-d b a : Deputy Interior Minister Prince Ahmad bin Abdul Aziz, said that the Kingdom will establish a fence along the border with Iraq, which amount to 500 miles at a cost of seven billion dollars. He said in a statement reported by the official Saudi News Agency WAS »» Al yesterday, Wednesday, to be conservation »Saudi-Iraqi border learned from the unrest and the question of the region that there be a fence or appropriate way to preserve this work is being Al. There will be good protection forfeited border and prevent infiltration and leakage and confirming the existence of understanding with the Iraqi Ministry of Interior in this regard. He denied the Deputy Minister of the Interior that the Saudi Kingdom handed Iraqi authorities a list of the names of detainees in Iraq, saying : »hope that we get it. We hear that there are Saudi detainees in Iraq and we are sure the presence of the Saudis, but how and who is the detail we hope to have information »Al Balkkarib Al.

»Azzaman newspaper Al

Sotaliraq.com

Characterized by Iraq of possessing enormous oil wealth with an estimated reserve of oil at (112) billion barrels of oil and nearly double that figure reserve potential, As Iraq's gas reserves amount to 30000 billion cubic meters and specializes in oil wealth in the country to lower costs of development and production with high productivity and the lack of hot single rear compared with other countries in addition to Iraq's possession of a good infrastructure in pipelines and reservoirs and pumping stations to facilitate the process of linking the fields of new export facilities, then there is availability of agricultural potential with the possibility of investment in the reform of the vast territory with a low level of relative wage labor in general, what is available to the neighboring countries and can be considered one of the States which have this advantage if invested large amounts in each of the infrastructure sectors and sectors now crown, The market size of the critical factors in the decisions of (investment) whenever the size of the market has increased investment opportunities and increased feasibility of a project with great energy and longer (the Iraqi market) of the markets relatively broad, The market is affected by factors horizontal size of the population affected, as well as market factors observed is the level of income and living standard as well as the availability of comparative expertise in the field of basic and value-added Kzllk to the availability of raw materials own, which makes up a large (investment) which is a priority for the country's government that c sounds great for the investor.

Translated version of http://www.iedc-iq.org/paper.php?source=akbar&mlf=interpage&sid=10212

Originally Posted by Adster

Great find team, interesting.....


Voices of Iraq : MEETING-lift
Kawthar wrote : On Wednesday, 04 October 2006 12:42 PM-BT

The adjournment of the meeting of the House of Representatives to visit Hall-commerce
From the hushed Abdulamir
Baghdad - (Voices of Iraq)
Announced by the Speaker of the Parliament Mahmoud Almshahadani today, Wednesday, adjourned the session for half an hour to visit the Hall of electronic him, which is scheduled to convene its parliament in the coming days.
He said Almshahadani "will uphold the parliamentary session for a half-hour visit to the Hall commerce and learn how to use."
During the morning session of the parliament to discuss the continuation of the investment law, which was postponed a vote to be held on Thursday, October 12, October 1st. " He said the first deputy, Khaled al-Attiyah of the United Iraqi Alliance list today during the meeting "tomorrow will be listening to the proposed amendments to the law will then be held on Thursday, October 12 October first."
The investment law has met with considerable reservations by members of Parliament with respect to the number of years Almsathat granted to investors. Dharbeh and exemptions.
In the letter of the law to exempt foreign investor from taxes for a period of ten years, and that the duration of the investor Almsatha 50 years.
On the other hand, it denounced the Kurdish list in the House of Representatives today, the attack on three relatives of Deputy Samia Aziz, the Kurdistan Alliance.
The Speaker of the House of Representatives, who read out a statement of condemnation at today's meeting, "The home of Deputy Samia Aziz surprises before (terrorists) in the second of this month, which led to the death of her nephew, Khaled Ibrahim, and his uncle Sadek, I explained sister, and she said the three bullets in the head. "
Condemned Hamid Majid Moussa, deputy of the Iraqi List the incident and said that "communal violence and racial together."
On the other hand, said Mahmoud Almshahadani automatic Ada to the House that it is necessary to meet the deadlines for the start of the parliament sessions, which were identified in the ten in the month of Ramadan.
He said Almshahadani during today's meeting "must stick to the limit all the dates start of meetings that we have set in ten in the month of Ramadan therefore action would be taken to the member who will be delayed from that date, certain actions will be taken against him will be determined in the parliament."
He added : "The meeting will be held at ten and record the names of those present at 10:00 and ten minutes, If a quorum will be meeting for half an hour and if a quorum after two half will be meeting and will hold parliament caused a delay in holding the meetings. "
The today's meeting had begun to 12pm local time for the city of Baghdad.

yeah its a gem but can anyone help me break it down??

Have not looked, to see if this one ie here yet. But here it is Now. No Link just copied from another place.

Citigroup announces the launch of a $70 million structured facility to support Trade Bank of Iraq

04/10/2006
Source: AME Info


Citigroup, in cooperation with US Overseas Private Investment Corporation ('OPIC'), today announced the launching 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 collateralized. 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 toward promoting trade under the leadership of TBI. OPIC has been our strategic partner in arranging this and other vital facilities for Iraq.'

The Trade Bank of Iraq is an independent Iraqi government entity created to facilitate the reconstruction of Iraq by providing trade finance services that Iraqi financial institutions are currently unable to offer.

The new facility comes at the heels of several other landmark transactions that Citigroup has lead in Iraq including the recent commercial debt restructuring on behalf of the Republic of Iraq, the launch of a $130 million OPIC partial guaranteed loan to support small and medium term enterprises in the Iraqi private sector, and the Prepaid L/C facility for TBI.

'This project is designed to increase the availability of financing for Iraqi trade transactions and to enable Iraq to increase its funding capacity,' said Eli Hassine, global head of Export & Agency Finance at Citigroup. 'Agency supported deal-structures are a crucial first step for Iraq to re-enter the global financial community.'

Originally Posted by mike brown

when I contacted chase, I talked to the 2 main currency branches in chicago area, even spoke to the head of currencies and they told me they do not, but as stated earlier, it is not a normal question to them so out of laziness etc. we can't always get the ' right ' information.
p.s. does anyone know of a chicago bank that ' now ' offers to sell iqd's? pm me = making another purchase this week

Their new policy is to not talk currency exchange anylonger over the phone. You must go in and see them. jefletcher in Denver and I here in Dallas worked the phones from New York JRMorgan to Denver before I got a yes. But when i and saome freinds enter any Chase bank and go over heads, for some reason they say, : Yes I guess we do, didn't know that". Thank You.

Originally Posted by shotgunsusie

yeah its a gem but can anyone help me break it down??

the hall of electronic ... and learn how to use... maybe setting up their version of C-SPAN? this part is pretty garbled from translation

October 12th October 1st; just go with October 12th, since it ain't the first

Tax bennies for ten years for foreign investors, not sure about the 50, perhaps their specific ownership of whatever type company they are, maybe to assure them of protection from being nationalized/socialized? Read prior that land can be leased but not owned for up to 40 years, so that's a separate issue.

Deputy Samia Aziz is pissed off about some relatives getting killed, and others agreed that relatives being killed is generally considered 'bad'.

Here's the one you'll like: Parliament has stuff to do with certain deadlines, and they are supposed to show up on time for the quorum headcount.

This, to me, sounds like a gripe session. A disciplinary session of sorts. Comments in blue.

Originally Posted by Adster

Great find team, interesting.....


Voices of Iraq : MEETING-lift
Kawthar wrote : On Wednesday, 04 October 2006 12:42 PM-BT

The adjournment of the meeting of the House of Representatives to visit Hall-commerce
From the hushed Abdulamir
Baghdad - (Voices of Iraq)
Announced by the Speaker of the Parliament Mahmoud Almshahadani today, Wednesday, adjourned the session for half an hour to visit the Hall of electronic him, which is scheduled to convene its parliament in the coming days.
He said Almshahadani "will uphold the parliamentary session for a half-hour visit to the Hall commerce and learn how to use."
During the morning session of the parliament to discuss the continuation of the investment law, which was postponed a vote to be held on Thursday, October 12, October 1st. " He said the first deputy, Khaled al-Attiyah of the United Iraqi Alliance list today during the meeting "tomorrow will be listening to the proposed amendments to the law will then be held on Thursday, October 12 October first."
The investment law has met with considerable reservations by members of Parliament with respect to the number of years Almsathat granted to investors. Dharbeh and exemptions.
In the letter of the law to exempt foreign investor from taxes for a period of ten years, and that the duration of the investor Almsatha 50 years.
On the other hand, it denounced the Kurdish list in the House of Representatives today, the attack on three relatives of Deputy Samia Aziz, the Kurdistan Alliance.
The Speaker of the House of Representatives, who read out a statement of condemnation at today's meeting, "The home of Deputy Samia Aziz surprises before (terrorists) in the second of this month, which led to the death of her nephew, Khaled Ibrahim, and his uncle Sadek, I explained sister, and she said the three bullets in the head. "
Condemned Hamid Majid Moussa, deputy of the Iraqi List the incident and said that "communal violence and racial together."
On the other hand, said Mahmoud Almshahadani automatic Ada to the House that it is necessary to meet the deadlines for the start of the parliament sessions, which were identified in the ten in the month of Ramadan.
He said Almshahadani during today's meeting "must stick to the limit all the dates start of meetings that we have set in ten in the month of Ramadan therefore action would be taken to the member who will be delayed from that date, certain actions will be taken against him will be determined in the parliament." (he who is late will be punished)
He added : "The meeting will be held at ten and record the names of those present at 10:00 and ten minutes, (be here at 10. roll call at 10:10)If a quorum will be meeting for half an hour and if a quorum after two half will be meeting and will hold parliament caused a delay in holding the meetings. " (sidebar is 30 mins. After 2 sidebars, you will delay the meetings)
The today's meeting had begun to 12pm local time for the city of Baghdad.(used as an example that today began 2 hours late)