Maybe Done Seen This One....
Kurds agree to share oil revenue with Iraq
9/25/2006
SPECIAL TO WORLD TRIBUNE.COM
Monday, September 25, 2006
LONDON — The autonomous region of Kurdistan has expressed readiness to share crude oil revenues with the rest of Iraq.
Kurdistan Natural Resources Minister Ashti Hawrami said the regional government plans to draft an oil bill over the next few weeks that would share revenues with the rest of the country, Middle East Newsline reported.
But the bill would grant Kurdistan the sole right to develop resources in the northern Iraqi province.
"Control of the new fields is the exclusive right of the regions and we are not going to budge on that," Hawrami said. "We will control them 100 percent. We have no intention of withholding revenue from the central government. We will not take a dollar extra than our fair share, but we expect our fair share."
More Info...Iraqi Dinar News - Kurds agree to share oil revenue with Iraq , SafeDinar.com
Iraq may again start buying costly US wheat
Quote:
KANSAS CITY, Sept 26: High prices for American wheat are a concern for Iraq as it seeks fresh supplies for the country’s bread-making and other needs, but the war-torn country is eager to begin buying US wheat again after a lengthy hiatus, an Iraqi trade official said on Tuesday.
“We will be buying American wheat ... but maybe not now.
American wheat is good and tasty, but it is also expensive,” said Abdul Hadi K. Al-Hamiri, an Iraq Ministry of Trade official and one of a group of trade officials who on Tuesday were visiting the Kansas City Board of Trade, the world’s largest futures market for hard red winter wheat.
There has been widespread market speculation over the last week that Iraq was poised to buy possibly one million tons, or more, of wheat.
But the Iraqi trade delegation, who have been crisscrossing the United States over the last week meeting with grain suppliers and US trade officials, said any formal announcement would have to wait until after a meeting in Iraq in October, and they stressed high prices were an issue.
Ferial Jawad, head of the grain import department of the Iraqi Grain Board and another member of the delegation visiting Kansas City, told Reuters that Iraq planned to buy at least enough for one month’s consumption needs, about 300,000 tons, with 90 per cent of the amount coming from the United States and the rest from Australia.
Jawad said American supplier Archer Daniels Midland Co. was able to offer attractive pricing.
—Reuters
Iraq may again start buying costly US wheat -DAWN - Business; September 27, 2006
Dont have a link. But here is another Wheat Deal.
Iraq, Australia Near Resolving Wheat Trade Issues
26/09/2006
Source: Cattle Network
Iraq may be able to begin buying Australian wheat soon because the two countries are close to coming to terms on a scandal that prompted Iraq to stop importing from Australia's AWB Ltd. (AWB.AU) in February, Iraqi Trade Minister Abdul Falah al-Sudani said Monday.
Iraq stopped buying from AWB in the wake of an investigation into alleged kickbacks paid to Saddam Hussein's regime in return for wheat purchases under the United Nation's oil-for-food program.
Al-Sudani told reporters here Monday he believes the two countries can get beyond that "problem." He said that "it will be resolved soon and we will resume purchasing from Australia."
But Iraq is also increasingly able to rely on domestic wheat production. Al-Sudani said wheat production there has more than doubled to about 1 million metric tons this year.
Meanwhile, if U.S. industry was hoping for an announcement of a wheat purchase during al-Sudani's visit to the U.S., it is not going to get it Monday. Al-Sudani told reporters he would make no such announcement.
Other members of the Iraqi trade delegation with whom he is traveling will leave Washington and head to Kansas City, but al-Sudani will not accompany them.
Alan Tracy, president of the U.S. Wheat Association, said Monday that Iraq still has "big import needs" and that U.S. exporters "expect to compete with the Australians."
http://www.iraqdirectory.com/DisplayNews.aspx?id=2157
Like the sound of the last Paragraph
The Iraqi Central Bank seeks to adopt the application of international...
The Iraqi Central Bank seeks to adopt the application of international standards on capital adequacy.
Source : Middle East - 24/09/2006
An official source in the Iraqi Ministry of Finance, the possibility of the application of international standards on capital adequacy by the Central Bank of Iraq, under the resolutions of the Second Conference, held in Basel.
The source added, in an exclusive, on the sidelines of the Economic Forum, which was held at the Ministry of Industry and Minerals, the role of banks in the economic reform process, The Central Bank of Iraq and work quickly to take its active role in the economic stability of the country, It also tries to lay off some of the mechanisms that were prevalent days of the previous regime, especially lending to government institutions. So there is serious studies on the possibility of introducing and developing a market for government securities would provide a needed all of the institutions of cash and fast, in addition to that it will enable individuals and owners of capital to create a new type of domestic investment content, and the reduction of the phenomenon of capital flight abroad.
And the Central Bank's role in achieving economic stability at the current stage, The source pointed out that the Central Bank of Iraq enjoys complete independence, which is making a big effort in order to achieve a stable monetary policy, contribute to the strengthening of the Iraqi economy and reconstruction, and that through a series of constructive steps.
The most important of these steps to replace the national currency, been completed, replacing the old Iraqi national currency in January 15 (January) 2004 through the replacement of four trillion OID new currency. This step has been made of a number of important benefits, which restored confidence in the Iraqi dinar is very high, , which reflected an improvement in the exchange rate are clear. The approval, the recent granting of licenses to foreign banks one important step in the efforts of the Central Bank of Iraq to build banking sector active and competitive in Iraq. The auction on foreign exchange of the Central Bank of Iraq.