Thread: Archive News - Iraqi Dinar Think Tank - 22/06/2010 - 04/10/2010

Kurdistan: this week will be the hardest stage in Iraq

MALE member of the Kurdistan Alliance bloc, Muhsin al-Sadoun said the country is experiencing particularly hard this week with the withdrawal of U.S. troops from Iraq, noting that the political blocs to find a way out of crisis and form a government quickly.

He said al-Saadoun told a news briefing that the talks between the blocks is disabled in the original, however, that prima facie it says in effect, but when you reach the point of prime minister back talks back to square one, adding that the political blocs that settled the matter this week, in particular the fact that U.S. forces Completed its withdrawal and the country living in a security vacuum, political and constitutional, noting that the Iraqi people today live concern, especially after the permit Office of the Adjutant General of the Armed Forces that the coming days will witness attacks by armed groups.

He added that the Kurdish groups to participate in discussions to form a government and are not the disruption of the formation of the government and we are helping to bring the views of pointing out that the blocks Kurdistan pressed to form a government as soon as inter-Saadoun, said talks were underway between the blocks and we expect to settle the matter between the National Alliance, or between Iraqi or the rule of law and everyone is expected to speed up the formation of the government.

The country has seen since the announcement of the Federal Court for ratification of the election results on the first of June last mobility politically, between blocks four winners in the elections to form a government, but the masses did not succeed so far to agree on forming a government because of disagreements on legal cluster, which will cost head the next government.

Observers say that the competition for the three presidencies plunged Iraq into a political and security vacuum, especially after being subjected to a wave of bloody attacks claimed the lives of dozens of local residents and security forces.

http://www.nakhelnews.com/pages/news.php?nid=1640

Releasing cash to banks reinforces economy – banker

The decision of the Central Bank of Iraq (CBI) to release 5 percent of cash reserves is a step toward reinforcing the role of the private sector in the Iraqi economy, a banker said on Saturday.

“The amount was semi reserved without taking advantage of it,” the banker told Aswat al-Iraq news agency.

He explained that the cash will improve loaning, credit, and letters of credit.

“Having cash in banks will also improve daily banking services,” the banker added.

http://en.aswataliraq.info/?p=136204

Fears that inflation in the country in the absence of mechanisms to reduce it

The Economist Iraq , on Saturday, expressed the fear of continued inflation witnessed by government institutions was triggered by the Iraqi government, a program of advances and loans to its employees until the year 2015 in the absence of mechanisms operate in reducing the rate of inflation increased.

Amer al-Hamad Al-Jabri told Kurdistan News (Akaniwz) that "Iraq lacks mechanisms deterrent to the increasing inflation of government institutions." explaining that "the Iraqi economy was affected by 2.9 from its natural state for entering in a package of financial commitments to international banks hit by the global financial crisis".

He pointed out that "the Iraqi economy is unstable because of its reliance on oil exports fully without relying on alternative economic resources such as industry and agriculture."

He continued by saying that "the instability of Iraq's resources from the export of oil from one month to another, a problem - added increase of the phenomenon of inflation in the country. "indicating that the economic policy adopted by the government in launching the predecessor of the large amount of employees and retirees may cause the survival of inflation until 2015".

And exports the country's oil for the month of July last around 56 million and 300 thousand barrels revenues achieved amounted to about 4 billion and 9 million, and increased on exports of the month of June last amounted to 54.7 million barrels revenues of 3 billion and 889 million dollars.

The economist said the Iraqi government, the outgoing Hassan Jabri's (Akaniwz) saying that "the Ministry of Finance and the Central Bank succeeded in overcoming the obstacles that may be caused by the global financial crisis through the development of appropriate strategies for the advancement of economic reality in the country."

And Gabri that "Iraq is among the few countries not affected by the global financial crisis because the Ministry of Finance has been able through the development of a plan to get rid of inflation." adding that "advances the financial distributed to employees and retirees of the important programs undertaken by the economically advanced countries to raise the value of the entry of its citizens".

The Central Bank of Iraq announced a decline in the inflation rate in Iraq to 2.7%, which encouraged the launch of liquidity for banks by 5% of the existing legal reserves have, in order to expand lending operations and advancing the development.

It is noteworthy that Iraq has seven state-owned banks as well as 36 banks, civil strife, and it was the Iraqi Central Bank has asked banks to local civil society that have no dealings with international banks, to increase its capital to 250 billion dinars (214 million dollars) by 2013 in order to find local banks more capacity Competitiveness.

http://www.aknews.com/ar/aknews/2/177721/

Oil: no value of any commitments made from other than the ministry to export gas via the Nabucco pipeline

Stressed the Oil Ministry, Sunday, that the export of crude oil and gas and their exclusive prerogative of the ministry and through the Iraqi oil marketing company, indicating he did not provide the value of any commitments from other Iraqi to export gas via the Nabucco pipeline.

The Oil Ministry in a statement that "Iraq is exporting crude oil and gas through the Iraqi oil marketing company exclusively, and there is no other hand, empowered to sign contracts with international companies or local in this regard."

According to the statement, that comes "in response to RWE, a statement posted on the Kurdistan Regional Government, which came in the text that it has signed a cooperation agreement with the government of Iraqi Kurdistan to inject future gas supplies to the Nabucco pipeline project."

http://radionawa.com/Ar/NewsDetailN....556&LinkID=155

Shahristani: Convention on the oil fields signed between Iraq and Kuwait will be followed by another agreement

Oil Minister Hussein Shahristani said that the Convention on the joint oil fields and signed between Iraq and Kuwait will be followed by another agreement for the sharing of revenues between the two fields.

Shahristani said in a press statement that the agreement signed between Iraq and Kuwait in the current, provided the selection of a third party, is one of the oil companies, the task of putting a plan defining the share of each of the common fields between the two countries, noting that the third party has not been selected yet.

Shahristani said that a third party who has not yet been determined develop a plan of technical economic mechanisms include investment fields between the two countries, and the largest amount possible to extract from these fields, the share of each country, adding that the agreement will be followed by another agreement between the two revenue-sharing fields.

http://radionawa.com/Ar/NewsDetailN....547&LinkID=155

U.S. agency : huge amounts of money allocated by Washington for the reconstruction of Iraq went unheeded

A source at the U.S. agency for audit shall review budget expenditures in Iraq, billions of dollars appropriated by the United States for reconstruction programs in this country have gone unheeded, and that based on more than 300 reports of the auditors Americans.

And quoted by the Associated Press that the source of these loss-making enterprises, in particular to build a prison north of the capital Baghdad was assigned to approximately 40 million dollars, knowing that the prison remains empty.

He has also been monitoring the amount of 165 million dollars to create a children's hospital has not been launched so far, in addition to the construction of water purification system in the city of Fallujah, which required 100 million dollars. This amount exceeds 3 times the original cost of the project, noting that the industrial water is still flowing in the streets of the city, the IAEA confirmed.

The Associated Press that the United States continues its withdrawal from Iraq regardless of the hundreds of projects that could not be done. The total amount that has been squandered in order to achieve these programs by 5 billion dollars of U.S. taxpayer money.

He pointed out that these data did not include the costs of programs to ensure security, which means that the exact amounts that have been squandered over the figures mentioned, and even projects that have been achieved not fully achieve its goals.

http://www.ipairaq.com/index.php?nam...onomy&id=29678

Saudi firm to invest in Iraq’s oil, power sectors

A delegation from al-Jumaih Holding Company briefed Iraqi Vice President Abdel Abdulmahdi on the projects the Saudi firm is planning to invest in the sectors of oil and electricity, according to a release by Abdulamahdi’s office on Sunday.

“Vice President Abdulmahdi received the Jumaih firm delegation at his office in Baghdad on Sunday (Aug. 29) to discuss with them the investment opportunities available in the fields of oil and electricity,” read the release as received by Aswat al-Iraq news agency.

Abdulmahdi welcomed the Saudi firm and all other Arab and foreign companies planning to invest in the Iraqi market’s various sectors.

http://en.aswataliraq.info/?p=136282

Iraq denies the existence of differences between the leaders and that it would not participate in a government headed by al-Maliki

Denied the Iraqi List led by former Prime Minister Iyad Allawi and the differences between the leaders of the menu on some issues about the formation of the new Iraqi government, stressing at the same time it will not participate in any new Iraqi government headed by Prime Minister outgoing Nuri al-Maliki.

The past few days have seen the emergence of leaks reported large differences between the leaders of the Iraqi List, especially among the leader, Iyad Allawi, leader Saleh Mutlaq, a prominent against the backdrop of rumors that the presence of movements of the Allawi government is formed in isolation from the rest of their leaders.

Al Mulla said "the list held during the past two days, a meeting to discuss the political situation in the country and the different statements between the leaders of the security on the readiness of Iraqi forces take over security in the country after the drawdown of U.S. troops to 50 thousand soldiers end of the month."

He pointed out that the list Mulla emphasized during the meeting, "adherence to the right to form a government and its steadfast refusal to participate in any future Iraqi government headed by Iraqi Prime Minister outgoing Nuri al-Maliki."

The United States and Iran have stepped up their actions during the recent to persuade allies of the National Coalition and the Iraqi List to approve the survival of Iraqi Prime Minister outgoing Nuri al-Maliki for a second term but the leaders of the Iraqi National Coalition and the Iraqi List, noted in comments several times during the past few days to their refusal to give al-Maliki for a second term However, some observers believe that U.S. pressure and Iran 's political blocs could be resolved by the position of the political blocs to form a government, especially that the two parties share a significant influence in Iraq seven years ago in conjunction with the inability of regional countries, particularly Syria and Turkey and Saudi Arabia to find an influential role it parallel to the role of Iranian And American people.

Saw the stations of the political process in Iraq delays exceeded the time limit set by the Constitution, as happened during the period of the agreement on the constitution in 2005, and the formation of the government after the 2005 elections, through the enactment of provincial elections in 2009, and also with the enactment of the recent parliamentary elections, as well as To that of the previous meetings of the Parliament of atherosclerosis and the procrastination of some parliamentary blocs led to disable the legislation important constitutional formations, such as the Constitutional Court and the accountability and justice.

http://www.alsumarianews.com/ar/1/10...-details-.html

Exempt traders who wish to transfer large sums abroad to bring the appropriate documents

Iraqi Central Bank has decided to exempt the trader who wishes to transfer 100 thousand dollars more to the outside to bring the appropriate documents.

The central bank adviser said the appearance of Mohammed Saleh, told Al-Sabah said that the bank is watching with interest and in coordination with the concerned authorities the flow of funds and the safety of economic and commercial transactions and to ensure employment in the areas of commercial, economic, investment and refer suspicious of the judicial and security organs to take action on them, pointing out that this Controls and controls on the movement of the flow of money are handled in a manner not restricted to the trader or the owner of capital.

Saleh pointed out that the bank recently decided to exempt a trader and investor who wishes to transfer 100 thousand dollars and above out of the country to submit papers, documents and transactions that may take a long time, but it only obtaining approvals fundamentalism through the corporate identity in order to achieve the principles of economic freedom and the opportunity for the dealer in Transfer of funds, considering that this step a role in stimulating trade and economic movement in the country and increase the turnout traders on the exercise of extensive activities in each place.

http://radionawa.com/Ar/NewsDetailN....632&LinkID=155

Zaha Hadid to Design Baghdad’s New Central Bank

Baghdad-born architect Zaha Hadid has been appointed to design a new headquarters for the Iraqi central bank in Baghdad, two months after an attack on the building left at least 15 people dead.

Bloomberg reports that Hadid, aged 59, was approached by the Iraqi authorities earlier this year, before the attack, and initial talks about the project were held in Istanbul on August.

Her practice has been asked for “a feasibility study, brief development and concept design,” a statement from Zaha Hadid Architects said.

Hadid was born and raised in Baghdad, but has been based in the U.K. since 1972, when she came to London to study at the Architectural Association. Her father, a U.K.-educated industrialist, served briefly as Iraq’s minister of finance and industry. In 2004 she became the first woman to win the Pritzker Prize for Architecture.

She is a nominee for the 2010 RIBA Stirling Prize, the profession’s highest U.K.
distinction, for her MAXXI contemporary-art museum in Rome; the prize will be awarded on Oct. 2.

http://www.iraq-businessnews.com/201...-central-bank/