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

Thursday, January 11, 2007 Iraq: WTO membership will not affect relations with GCC
(MENAFN) An official at the Iraq Ministry of Trade said that Iraq's expected membership in the World Trade Organization (WTO) will have no effects on economic relations with the GCC neighbors, Gulf News reported. He said that some economic sectors will remain under the Iraqi government's control even after joining the WTO. He stressed that joining the 151-member organization will not have any negative economic impact on the war-torn country. He pointed out that joining the WTO will increase investments and accelerate modernization and productivity in Iraq, along with opening more markets for Iraqi goods and improving transport regulations. Negotiations for Iraq's entry into the WTO will begin in Geneva in February.

http://www.tbiraq.com/menafn_news_b...n_id=1093138721

Mubarak calls on Syria and Iran to raise their hands on Iraq
(Voice of Iraq) - 12-01-2007
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Cairo-agency warned : Egyptian President Hosni Mubarak reiterated yesterday of the dangers of what Iraq witnessed the deterioration of the security situation affirming Iraq's ability to regain its unity "if they stopped regional and international powers to interfere in its affairs", in reference to Syria and Iran.
The Mubarak in a newspaper published by "week" tomorrow, "What is happening in Iraq now is a matter of regret conditions deteriorate rapidly," adding that "the divisions grow and Iraq is now almost civil war."
He said that "all this foreshadowing and threatening dangers of partition and the danger to the Arab national security and the Arab identity," adding that "those who seek to partition the region must realize that the risks of division and fragmentation will be reflected negatively on the entire world."
He stated that "sectarian or ethnic wars would not let the green or pineapple and will be a threat even to the sources of oil and therefore come back again to warn of the danger that threatens everyone." He renewed Mubarak stressed that the execution of the deposed Iraqi President Saddam Hussein in this way the "barbaric" would increase violence in Iraq, pointing out that he had warned President Bush about the repercussions of the execution of Saddam.
And on the Iranian role in Iraq, President Mubarak explained that Iran is seeking to have the "pillars" in Iraq and the region, adding, "and here I say to all of you, LEAVE Iraq Iraq is capable of restoring unity if they stopped regional and international powers to interfere in its affairs."
His "But if the case Fear to turn Iraq into statelets divided and conflicting," pointing out that what is happening now could lead to serious risks pays for the American forces and allied forces and the Iraqi people but also the region and the entire world.
On the other hand, the Egyptian president reiterated his call for the Palestinians need unity and a cessation of hostilities "because that increases the suffering of the Palestinian people and put an end to all hopes for a solution to the issue," he said, pointing out that the Palestinians warned more than once of the differences among them and the shedding of Palestinian blood Palestinian hands.
He said that Egypt has much to resolve the differences between the two movements of "Hamas" and "Fatah" and sent a special security for the follow-up developments and seek to resolve the outstanding problems, including the problem of the Palestinian government.
He said, "The truth is that each of the problems the Palestinian picture at the present time will laments the Palestinian people and the siege as a result of differences and the repeated attacks by" pointing to Egypt's call to return once again to negotiations between the Palestinian and Israeli sides.
He pointed out that his country had contacts with all parties concerned in order to find a solution to the problem and return to the negotiating table, stressing his country's interest in resolving the Palestinian issue as "a central issue for all Arabs.
On the other hand, President Mubarak said that "Egypt can not remain silent looking to acquire some of the regional power of nuclear weapons, refusing to live under the threat of possible Arabs.
He continued that "it possesses nuclear disarmament in the absence of other, which is going to impose its will and always seek to achieve reconciliation and ambitions," adding, "Therefore, it can not be that I keep silent on this situation Vmsauliti are basically the people and must not be allowed to become our security in jeopardy. There must be a solution to stop this nuclear race in the region. "
He said : "We have called for many years to rid the region of weapons of mass destruction, in particular nuclear weapons as a real threat to the Middle East, whether in the hands of Israel or Iran," because that opens the door to a nuclear arms race in which Egypt will not only position the observer will not stand idly by. "
On the internal level, President Mubarak has said that the constitutional amendments called for by the recently aimed at achieving greater democracy for the people, pointing out that the Egyptian media "develops will not abandon freedom of the press regardless of the breaches."
Asked if he believed that the religious ruling represents a threat to Egypt's President Mubarak emphasized that the danger was "certainly" under multiple categories represent the fabric of Egyptian society, pointing out that the trend of the Muslim Brotherhood "banned" is a danger to the security of Egypt.
He referred in this context the importance of the text in the Egyptian constitution opposed to the establishment of political parties based on religious or references or use of religious slogans in the elections, confirming the long-standing position supporting the state's civil enjoyed by all citizenship rights and the standard of the fittest.

Translated version of http://www.sotaliraq.com/

Originally Posted by shotgunsusie

doin that 'hold the price til the end of office hours' trick again i see. drivin the demand up.

i heard the social services monies will begin being handed out on the 15th. will they hand the people worthless dinar?????

SGS:

I am new to this forum! So where did you here about the Social Services handouts on the 15th?

Confiscation of fuel tanks, designed for smuggling in Tikrit
(Voice of Iraq) - 11-01-2007
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Confiscation of fuel tanks, designed for smuggling in Tikrit
By Ghazwan al-Jabouri
Tikrit - (Voices of Iraq)
A security source in the governorate of Salah al-Din today, Thursday, the local police forces in Tikrit confiscated (33) loaded with fuel tanks were intended for smuggling to the northern region.
The source stressed in a telephone conversation with the News Agency (Voices of Iraq) Independent that "Iraqi police forces and intelligence information on the seized this morning (33) and the fuel tank was designed for smuggling direction of the northern region."
According to the source, the "Shahanan came laden with fuel from the Baiji refinery and was headed to the province of Kirkuk which belong to the Kurdish company."
He said that "the truck to bear official documents authorizing them to transport oil derivatives."
They had confiscated the National Security Forces tanks Kurdish companies for the same reasons.
On the other hand, said a security source in Tikrit today, Thursday, that a bomb exploded on a military vehicle belonging to the Iraqi army in the district of the country was accompanied Hajah which resulted in the killing of a soldier and wounding three others and destroying the wheel full. "
The source added that the device exploded this morning near the canning factories country south of the city car belonging to the Third Brigade of the Iraqi Army was accompanied by pilgrims returning from the Holy Land, which resulted in the killing of a soldier was killed and three seriously their injuries were transported to a general hospital for treatment.
The source added that any of the pilgrims were unharmed.

Translated version of http://www.sotaliraq.com/

Imam Sistani, stresses the necessity of the application of the law and countless arms in the hands of the government alone

Najaf / justice said Dr. Muwaffaq Rubaie national security adviser following a meeting Repertory Grand Ayatollah Ali al-Sistani in Najaf yesterday, Wednesday, that the Imam al-Sistani stressed the need for the application of the law to all citizens without distinction and countless arms in the hands of the State only.

The spring he briefed Mr. al-Sistani on the overall security situation in Iraq, especially in Baghdad, Rubaie added in a press conference following the meeting : We have stressed discourse on the application of the law to all citizens without distinction and without regard to the background or the identity of the citizen. He added : Rubaie also stressed the countless sightings arms in the hands of state only and the tendency of all citizens are not licensed to bear arms, and continued : "The discourse on the important question of return of refugees to their home areas and to provide protection for them. He said spring : the government is heading in this direction. On a question about the security plan in Baghdad and whether Mr. al-Sistani, had been approved by the Rubaie said : "We are heading for the work of security in Baghdad, nor can the announcement of the date for the start of the security plan, but the positive results will emerge in the next few weeks, and the opinion of Mr. Al-Sistani does not interfere in the affairs of detailed and spring has arrived in Najaf earlier yesterday.

Translated version of http://www.aladalanews.com/

Iraq new investment law!

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11 Jan 2007

Dubai: Iraq is banking on a new law to pull in the foreign capital needed to rebuild its shattered economy, conference delegates were told.
According to leading Iraqi financial experts and provincial leaders, the recently-approved Investment Law will help establish the legal and regulatory framework needed to develop a business-friendly environment and attract much-needed private sector investment.
"Iraq is in dire need of investment, but for that to happen it must create the right regulatory environment," said Kamil Gailani, former Iraqi finance minister and current vice chairman of the National Bank of Iraq National Bank of Iraq
"Clarifying the investment situation for investors will help pave the way toward renewing the infrastructure of the Iraqi economy and providing capital for reconstruction and development."
Gailani pointed to several privileges and guarantees afforded to investors under the new law, including non-confiscation or nationalisation of any investment project, tax exemption and extension of the lease needed for a project from 40 to 50 years.
He said the law will go some way towards simplifying a complex maze of laws, regulations and administrative procedures which govern foreign direct investment.
UAE companies in particular are being urged to invest into Iraq, helping the country steer away from its dependence on revenues from crude oil and to ease the burden of responsibility from the shoulders of national government. Sectors offering robust returns include the energy sector, agriculture, construction materials and housing, say officials.
However, the Investment Law does not cover the crucial oil and gas sector, which contributes to 93-95 per cent of the Iraqi federal budget. Iraqi officials are currently drawing up a separate Hydrocarbon Law.
Maamoon Rashid, governor of the Al Anbar province in western Iraq, said the private sector holds the key to easing Iraq's economic crisis.
"The Al Anbar province has cement factories, glass factories, ceramics makers, stone breakers and phosphate manufacturers. But the economy was severely neglected under the previous regime," he said.
"We are in dire need of foreign investment to help restore the province's traditional economic role."
Investment Law: the facts
The Investment Law offers the following privileges to investors:
Taking out capital brought into Iraq with its revenues in hard currency.
Leasing land needed for the project for a maximum 50 years, which can be renewed.
Insuring the investment project at any national or foreign insurance company.
Opening accounts in Iraqi Dinar or foreign currency (or both) at Iraqi or foreign banks.
Obtaining residency and easing entry and exit from Iraq.
Non-confiscation or nationalisation of the investment project.
Right for non-Iraqi workers to transfer their salaries outside Iraq.

Direct program granting small loans and the formation of a committee to study the reality Laborers

Baghdad / Jamal Kamel announced by the Ministry of Labor and Social Affairs for the distribution of pensions among retired workers, said an official source at the ministry, the Department of Labor and Social Affairs identified Aam on October 21 January / 2007

A date for the disbursement of pensions of retired workers who are covered by social security for the months of November and December of 2006, the source added, is the distribution by dates and post offices established in the pension identities in Baghdad and other governorates, and that for ten days from the date of commencement of the exchange. In relation to the Labor Ministry and Social Affairs on the direct Scholarships program loans small income-generating early this year 2007, said a source of official at the Ministry of Labor and Social Affairs, and added : The Eng Mahmoud Sheikh Radi and Minister of Labor and Social Affairs had recommended that the establishment of a specialized unit concerned with the welfare of small enterprises and by the linking of the unity of community rehabilitation in the circle of social welfare the Status of employment and vocational training, and same source affirmed that the ministry paid much heed to this mechanisms for the Eradication of unemployment because of its importance at reducing the volume of unemployment and provide job opportunities for the classes with which the Ministry deals is the unemployed and those with special needs and widows specific implementing the program in the governorates (Babel, Karbala, Mosul) as a first stage. On the other side formed the Ministry of Labor and Social Affairs of a committee to study the recommendations reached by the the symposium the expanded under the slogan of (activity the normative Arabi between the reality on the ground and ambitious), which participated to the Labor Department and social security which was held in the Jordanian capital of Amman to generating from (13 and 15) in November from in 2006 last, An official source in the ministry said that this Committee formed line with the directives Eng Mahmoud Sheikh Radi and Minister of Labor and Social Affairs to the various departments of the Ministry all regarding the development of work and upgrading of the services provided the fact that the the ministry deal with the disadvantaged groups which need of special care. The same source said that the Department of Labor and Social Security Ministry is studying the recommendations of this study in depth in order to take executive action that would contribute to the preparation of new legislation unions are in the service class unions in the country.

Translated version of http://www.aladalanews.com/

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Since the beginning of the last quarter of 2006 the government announced that the general budget for the coming year will include substantial appropriations able to direct reconstruction in earnest and used one of the press statements term (development explosive), and included statements warning and the threat to the provinces which will not implement its projects by depriving it of the funds allocated to the budget.

The various government institutions in the forefront of the financial procedures preliminary powerful are taken only in normal conditions can be no economy can absorb any shock incurred, and the picture is more evident when dealing with figures and statements allocations in the coming budget.


.
As officials in the various authorities did not comment correctness or exile to those of the media, the supervisor must take these statements and statements as a final and reflect the official level, which is needed to know Maeder in the minds of the observations.
And that we had to follow the sequence : -

-
The first is the numbers in the budget, which was mentioned by the Minister of Finance that it would amount
billion dollars and assessed in the dinar exchange rate and the target is the (1260) dinars to the dollar, which means that both sides of the total budget, the Iraqi dinar will 51.260.000.000.000 Iraqi dinars.
- Also included statements that the budget will be established on the basis of the exchange rate mentioned in the previous paragraph and funding source of oil, which is priced virtual b (50) gross production rate of 1.7 million barrels daily.
The procedures to reduce or modify the exchange rate of the dollar / dinar, which followed the method, timing has not been successful, at least in the high landing rates, and announcing in advance that it would be 13% end of the first quarter of next year, is Sievers side-effects may be more severe than those suffered by the market in 1996.

.
- Perhaps an amendment to the dollar exchange rate / dinars useful in determining spending in the next budget, as has been said, but this adjustment in the exchange rate did not come as a result of economic recovery and address the gaps suffered by the Iraqi economy, but came through the auction, the official, without the factors of the market economy, where any income.
Since direct-Central Bank selling the dollar late 2003, the views strongly opposes such a way as that it interferes with the functions of the bank, which it wants to put the marketing of foreign currencies through the banking system.
And perhaps this particular point lead to the emergence of a sharp contrast between the official procedures, and functions of the various authorities, and between the free-market mechanism declared adopted in the Iraqi economy, the new, as well as an obligation of the monetary authority as they accepted that the power to determine the exchange rate for three years, that they and the government the task of compensating the damage caused to its procedures to reduce the price on those who are pushing adoption of this method to the formation of their savings currency of the dollar to maintain the standard of living fair.
And that is no secret to anybody that officials and economic plans, whether for reform or for the development but can be influential foundations and implement a package of measures under the integrated and coordinated carefully among all those who deal with the task.
The waiting and observers say it is not limited to the budget figures, but hoped to be accompanied by data on the operational programs and what has been prepared for them directly.
And finally, what has been the market and its mechanisms of pressure in the last period requires watering immediately so as to enable the private sector to encourage direct role in the implementation of the government expenditure and the exclusion of foreign companies whenever possible, which will yield some of the figures which will dominate in the next budget items.

MP : assignment of a service of 15 years and above to retire from the staff of the dissolved entities

Baghdad / justice said Abbas Bayati, a member of the House of Representatives yesterday, Wednesday, that the assessed budget of 2007 will provide 150 job opportunities to address unemployment in Iraq.

The Iraq in the 2007 budget submitted by the government to parliament last month 41 billion dollars, an increase of $ 11 billion in the previous year's budget. And said Al-Byati, in press statements him yesterday : It was double the budget of the Ministries of electricity, education and education, either of funds not its disposal governorates and the ministries because of the security situation, it will not come back to the budget but will be added to it the funds allocated within the budget of this year, and continued Al-Byati, ministries and governorates which had stalled and fell short of in the disbursement of budget will be developed restrictions them and THREATENING in the event of keeping the situation as it is will be transferred part of its budget to the other ministries ", and added Al-Byati, : address the budget increase salaries the career ladder-class 10th to step V of the fact that these grades of lower degrees, and they address the Fund support retirement and the new law for retirement. And staff members of the dissolved entities Bayati said : orientations within the national interest, the state will be the position of the dissolved entities them to retire (who has 15 years of service and above) donated a permanent and not piecemeal, either not covered (ie serving less than 15 years old) If within the administrative machinery and not the security agencies will take advantage of their expertise.

Translated version of http://www.aladalanews.com/

Action Central Bank led to the retreat of the dollar against the Iraqi dinar
المصدر: الصباحSource : Sabah
11 / 01 / 07
..Witness the Iraqi dinar improved markedly these days about the dollar's exchange rate, the Central Bank of Iraq to attribute the cause of the recent measures adopted by the task of raising the interest rate as well as the introduction of large amounts of foreign currencies in the market.
But a number of economists believe that these procedures were inadequate for the recovery of the purchasing power of the dinar is not accompanied by fiscal and monetary policies can achieve the required balance, it is expected expert at the Central Bank for improvement in the value of the Iraqi dinar with the decline in prices is gradually after two months from now.
Morning) followed these variables through exploring the views of experts and exchange of money and inspect the market continuing to determine the extent of the impact of these procedures.
We note that prices are still stable despite the recovery value of the dinar relatively. The reason that the traders publicly Basaarham old to make up for the losses which they may be exposed by it.
There was some question need to answer around what the of actual forces that stands behind the deteriorating situations, or force in the exchange rates the Iraqi dinar on the important factors including, that the exchange rate of the Iraqi dinar determined practically in the exchange markets on the according to supply and demand factors Like the other goods and services, but that the demand for the foreign currencies longer a a derivative of the demand for foreign goods and services while the presentation of foreign currencies longer a reflection of a foreign request on the goods and services of Iraq, and considered experts economy reluctance of (monetary policy) on the address the great imbalances particularly in the market monetary and represented local currency liquidity and the increasing menaced and rising inflation rates in an accelerated manner revert undoubtedly a huge impact within the marketplace.
These conditions in addition to the Iraqi economy for several strong shocks led to the structural imbalances in the structure of the Iraqi economy emerged as the negative results in the instability of the exchange rate of the Iraqi dinar and exposure to situations of weakness and deterioration, where it has become difficult to deal with the issues on the horizon, it must be a financial and monetary policy and clear-cut was aimed at stabilizing the country's economic situation.