Thread: Archive News - Iraqi Dinar Think Tank - 06/10/2010 - 24/01/2011

Saddam Hussein’s Yacht Back in Iraq, For Sale

Iraq’s ministry of transportation has announced that the luxury yacht Ocean Breeze, also known as the Basrah Breeze, once owned by former Iraqi president Saddam Hussein, is back in Iraqi waters, according to a report from ITN.

The boat, which has been the subject of legal wrangling between Iraq and Jordan, which claimed ownership of the vessel, is equipped with golden taps, a small theatre and a helipad.

Iraq won the dispute in French courts last year.

After being moored off the French resort of Nice and elsewhere in France over several months, Ocean Breeze left for Greece to undergo renovations.

Mehdi Ali, director general of the Iraqi Maritime Company, described the yacht’s journey from Europe to Iraq, saying Iraqi Transportation Minister Amer Abdul-Jabber joined the yacht in the United Arab Emirates.

“It has been shipped from France to Greece and it has been repaired by our technician team, most of the damaged parts were repaired. The yacht sailed through the Suez canal after we finished the required licences and documents for sailing. It has reached the United Arab Emirates, where the transportation minister joined the yacht and sailed to Basra,” he said.

Iraq plans to put the yacht back on the market again after it failed to sell in France at an asking price of $30 million in 2008. That setback was blamed on the effects of a worldwide recession.

Saddam, whose decades-long regime came to an abrupt end after a US-led invasion in 2003 and who was hanged in 2006 for crimes against humanity, was known for leading a lavish lifestyle.

US missiles and bombs destroyed another luxurious yacht, the Al Mansur, which belonged to Saddam, in southern Iraq in 2003.

While it was considered to be a grand yacht in 1981, when it was built, the Ocean Breeze, at 82 metres long, is now regarded as being puny compared with mega-yachts commissioned by a new wave of super-rich people.

http://www.iraq-businessnews.com/201...iraq-for-sale/

US Authorities Advised Marathon Oil Against KRG Deal

According to Iraq Oil Report, the US authorities advised Marathon Oil against entering into their recent contract with the Kurdistan Regional Government in the absence of agreement with Baghdad.

“The United States’ position remains that it is in the interest of all Iraqi parties to enact a set of national laws to govern the development, management, and distribution of Iraq’s hydrocarbons resources … We have encouraged all companies, including Marathon, to refrain from signing deals with the KRG independent of the central government’s approval … We have consistently advised companies of the significant legal and financial risks they may incur by signing contracts with any party independent of the central government’s approval.”

http://www.iraq-businessnews.com/201...inst-krg-deal/

Talabani opposes the execution of Tareq Aziz

Iraqi President Jalal Talabani's opposition to the provisions of executions in the country, including the execution of Iraqi Deputy Prime Minister in the former regime, Tariq Aziz, and that after the intervention in this direction shown by the Secretary-General of the Arab League, Amr Mussa said.

During a telephone conversation with Talabani Moussa expressed hope that the Iraqi president made his decision not to implement the Iraqi justice system judge the execution of Tareq Aziz, Deputy Prime Minister at the time of the former regime "and that the embodiment of the principle of tolerance and social harmony in the country."

Moussa hailed the "fateful role played by President Talabani on the political arena to bridge the gap and expand the area of national participants" .. Stressing the need to continue in his tireless efforts to accelerate the pace of forming a government of national partnership and wide to get Iraq out of its current crisis, "as quoted by a press statement, Presidential. The Moses condolences to the victims of a series of terrorist attacks, which affected the Church of Our Lady of Deliverance and a large number of areas of Baghdad, the capital yesterday, condemning those terrorist acts and expressed confidence in the ability of the Iraqi people Bottiyavh all his strength to stand united against the scourge of terrorism and overcoming adversity and difficult days with the political process and democracy in Iraq.

And President Talabani expressed great gratitude to Moses for his sympathy and solidarity continued with the Iraqi people and causes, reiterated his determination to move forward in all that serves the process of national unity and reunification, harmony and brotherhood, national in the country, expressing his initial opposition to the provisions of the executions, including the execution of Tareq Aziz, who was sentenced this week the past with a number of staff of the former regime in the case of liquidation of the religious parties .. The number of countries, organizations and international political figures called for a commutation of the death penalty and Tariq Aziz and the lack of implementation by the government.

Before that, contact Moses Prime Minister Nuri al-Maliki denounced the explosions that took place in Baghdad that killed dozens of people and offered condolences to the Iraqi people the martyrdom of a number of citizens. Moussa and his desire to visit Iraq after the Eid al-Adha.

http://www.babnews.com/inp/view.asp?ID=30239

Expert: high oil prices over the next two years will double the revenues of the Iraqi treasury

Expected oil expert Abdul-Jabbar Hilfi, Thursday, increasing the income of the Iraqi treasury over the next two times what it is now, as a result of high oil prices in the global stock market.

The Hilfi told (Voices of Iraq) that "high oil prices in the stock market world, which now exceed the roof of eighty dollars a barrel, he can achieve during the next two years an increase in the revenues of the Iraqi treasury to weaken what it is now," he said, adding that "the general situation of world economy heading to the demand for more crude oil because of the U.S. political situation is stable, "noting" the return of Republican control of the Senate and the administrations of some states. "

http://radionawa.com/ar/NewsDetailN....266&LinkID=155

This could be it !! Fellow investors !! Cross your fingers and toes !!
IMF Board Votes to Expand Power of Emerging-Market Economies
http://online.wsj.com/article/SB1000...googlenews_wsj

WASHINGTON -- The International Monetary Fund's executive board voted Friday to boost the role of emerging economies within the organization as part of a move to increase its role as the world's arbiter on economic matters.

The vote to overhaul its governance structure is a critical part of an agreement reached in October by finance ministers from the Group of 20 industrialized and developing nations. The IMF pledged to hold the vote before the G-20 leader's summit, set for Nov. 11-12.

The change will result in increased powers for China, Brazil, Russia and India by allowing them to become larger shareholders in the IMF. The changes include a rebalancing of quota shares, which determine voting powers of IMF member countries as well as the financial contribution each country contributes to the fund. The changes will also affect which countries hold seats on the IMF's executive board.

The changes would also double the total contributions countries make to the IMF, a figure the IMF put at $755.7 billion at current exchange rates.

IMF officials have called the changes "historic", and there is hope in the U.S. and Europe that by giving emerging economies a greater role in the fund would cement the legitimacy of the institution as a global financial referee. Additionally, a greater buy-in by more dynamic economies could strengthen the fund's function.

Originally Posted by yunowu

Wise investors should find out the countries that he will visit before the G-20 meeting..After all, the countries of interest and their respective currencies should be at the top of his currency revaluation agenda..Just an idea..
Treasury's Geithner To Make Asia, Middle East Stops Ahead Of G20
http://online.wsj.com/article/BT-CO-...29-718542.html

Iraq’s refusal for railways to Gulf states to protect Iraqi ports, Minister says

Iraq’s Transport Minister said on Saturday that the reason why Iraq refused the project to link Iraq with the Gulf states through railways, has been taken to project Iraqi ports. He added that the border problem with Iran had hampered the clearing of sunken ships and materials in Shatt Al-Arab Waterway.

“The reason behind Iraq’s refusal of the railway link with the Gulf states is to protect Iraqi ports, because if the country is linked with the Gulf states and Iran by railways, the Iraqi ports shall die!,” Minister Amer Abdul-Jabbar told Saudi Middle East Newspaper.
The Minister said that “the Arab Gulf states enjoy huge deepness, compares with Iraqi ports..So, if we agree on the railway linkage, all goods would be transported from the Arab Gulf states to all Iraqi provinces, through dry channels, hampering ships to reach Iraqi ports.”

As regards to the problem with the Iranian side, the Minister said: “The main problem related to clear up the ships and other materials sunk in Shatt Al-Arab Waterway is the main issue facing the drawing of the borders with Iran,” adding that “there are problems with Iran regarding the drawing of borders, and there is a joint committee discussing the problem, that we hope would be able to settle the problem, to enable us clear the sunken ships and materials in the nearest possible time.

“It is too difficult to clear up those sunken ships and other materials from Shatt Al-Arab waters, due to the lack of our Ministry’s possession of gigantic lifting machines, with 2,000-ton capacity, able to lift those ships and materials,” he said, adding that “25 sunken sea materials had been lifted from the Shatt (Waterway) over the past two years, where Khor al-Zubeir Sea Canal was concentrated on, whilst Um-Qasr Port is large and demands us to lift the sunken materials that undermine sea transportation through it.”

Southern Iraq’s Basra port-city has five trade ports and two oil terminals, first is “Maaqal,” considered the mother terminal, established in 1916, when it had been used by the British occupation forces, and was handed over to the Iraqis in 1937, as well as the building of the “Faw” terminal the same year, expected to become a larger Iraqi terminal in the forthcoming years, along with the the construction of Umm-Qasr terminal in the early 1970s and Khor Al-Zubeir and Abu-Flous Terminal on Shatt Al-Arab bank, which was recently activated due to the increase of imports by the private sector.

http://en.aswataliraq.info/?p=138674

Iraq's idle MPs urged to return salaries

Civil society groups said Friday they are to launch a legal battle for Iraqi MPs left idle since a March 7 election to return the 40 million dollars they have received in salaries and allowances over the past eight months.

"The Iraqi Civil Initiative to Protect the Constitution has decided to appeal to the supreme court for the return of remunerations received by parliament members since the election," a coalition of 12 groups said.

The groups, in a statement, said they would organise a demonstration on Saturday in central Baghdad's Tahrir Square "to protest against the repeated violations of the constitution despite a supreme court decision."

The general election ended in deadlock after none of the main parties won enough of the 325 seats in parliament to form a majority government. Iraq has since been left without a new administration.

Parliament itself has remained in hiatus, except for a 20-minute oath-taking ceremony and another brief meeting at which acting speaker Fuad Massum declared an indefinite "open" session.

On October 24, Iraq's supreme court ordered parliament to resume work, after the same alliance of civil society groups launched a legal case against Massum, accusing him of violating the constitution by leaving the session open.

As a result, MPs are scheduled to convene on Monday to elect a speaker and two deputies, the first step toward forming a government.

But with about 50 MPs on pilgrimage to Islam's holiest sites in Mecca, western Saudi Arabia, and other political groups unwilling to attend, it is unlikely to reach a quorum.

The constitution stipulates that a speaker, president and prime minister must be elected in that order.

The Sunni-dominated Iraqiya bloc of former premier Iyad Allawi narrowly won the election with 91 seats, closely followed by Prime Minister Nuri al-Maliki's Shiite State of Law Alliance with 89.

Neither has been able to muster a majority, despite back-door negotiations with various Shiite, Sunni and Kurdish blocs which also picked up seats.

http://www.zawya.com/Story.cfm/sidAN...urn%20salaries

Britain supports Barzani's initiative

U.S. President Barack Obama described the initiative of President of Kurdistan region Massoud Barzani to form the new government as important, according to a presidential statement.

"Barzani received a phone call on Thursday evening (Nov. 5) from Obama, who thanked him for the efforts he exerted to bring together leaders of four alliances who succeeded in elections in Iraq to form a government of partnership, able to maintain security and stability in the country," said the statement received by Aswat al-Iraq news agency.

Barzani's initiative calls for forming a committee of 8-12 members from all political blocs to start negotiations to form the new Iraqi government.

The members of the committee are expected to discuss the principles and program of the next government.

Barzani's initiative also stresses that all the major ethnic and sectarian components of the Iraqi society should have an equal share in the decision-making process in the country.

http://www.zawya.com/Story.cfm/sidZA...s%20initiative

Iraqi government drafts new regulations to improve the functioning of the private sector

The adviser in the Iraqi government ended their mandates, said Thursday that the government had drafted new regulations that would improve the reality of the private economic sector in the country.

Said Abdul Hussein Jaber Kurdistan News Agency (Rn) that "the Iraqi government plans to put many of the laws and controls to activate the mechanism for the private sector and possible reimbursement more in the situation in Iraq market economy instead of the socialist economy, to eliminate the administrative bureaucracy and the complexity of economic laws among government institutions."

He added that "the government has developed administrative regulations concerning the organization of economic reality, in addition to activating the laws passed by the previous parliament, which urges the need to open the restrictions on the private sector and support through the promotion of investment-regulated free."

Jaber and that "Iraq has more than 34 economic agreement based on the activation of the private sector, which imposes the need for the government to change its dealings and the economic outlook for the private sector."

The government is seeking to privatize some of the companies industry-governmental organizations to expand in the free economy and private sector development.

He criticized the International Monetary Fund instability of the Iraqi economy over the nature of his work, describing it as "an economic system foggy" for failing to privatize important sectors such as trade, health, industry and energy.

The Iraqi government maintains that the economic situation of the Iraqi citizen is not suitable for turning abruptly privatization and rely entirely on the private sector.

http://www.aknews.com/ar/aknews/2/193369/

Iraq postpones crucial parliament session

Iraqi MPs on Friday postponed a meeting to elect a speaker and kick off the process of forming a government, as civil society groups seek to recover 40 million dollars from deputies left idle over the past eight months.

The house had said it would convene on Monday to elect a speaker and two deputies, the first step toward forming a new administration. But on Friday it postponed the session by three more days.

"We announce the postponement of Monday's session to Thursday," a parliament source told AFP, without giving any reason for the delay.

Meanwhile, civil society groups said they would launch a legal battle for the MPs, left idle since an inconclusive March 7 poll, to return 40 million dollars received in salaries and allowances over the past eight months.

"The Iraqi Civil Initiative to Protect the Constitution has decided to appeal to the supreme court for the return of remunerations received by parliament members since the election," a coalition of 12 groups said.

In Friday's statement the groups said they would organise a demonstration on Saturday in central Baghdad's Tahrir Square "to protest against the repeated violations of the constitution despite a supreme court decision."

The general election ended in deadlock after none of the main parties won enough of the 325 seats in parliament to form a majority government. Iraq has since been left without a new administration.

Parliament itself has remained in hiatus, except for a 20-minute oath-taking ceremony and another brief meeting at which acting speaker Fuad Massum declared an indefinite "open" session.

Since the election results were certified in June, every deputy has been receiving a salary and allowance for 30 security guards of 22.5 million dinars (19,070 dollars) per month.

In addition, about 200 deputies living outside Baghdad's heavily fortified Green Zone, where parliament and government institutions are housed, receive another allowance of three million dinars (2,550 dollars) a month.

Moreover, all MPs are entitled to a 90-million-dinar (76,000-dollar) allowance for a car, which by law must be ratified once parliament convenes, costing the state a total of about 25 million dollars.

The parliament is a huge financial burden on the state because all ex-MPs since 2003 are entitled to 80 percent of their salaries and a monthly allowance of 6,350 dollars for 10 security guards for the rest of their lives.

"All of the oil income is going into the parliament," one MP joked.

On October 24, Iraq's supreme court ordered parliament to resume work, after the same alliance of civil society groups launched a legal case against Massum, accusing him of violating the constitution by leaving the session open.

"Any delay is anti-constitutional," the court said.

The constitution stipulates that a speaker, president and prime minister must be elected in that order.

The Sunni-backed Iraqiya bloc of former premier Iyad Allawi narrowly won the election with 91 seats, closely followed by the State of Law Alliance of a fellow Shiite, Prime Minister Nuri al-Maliki, with 89.

Neither has been able to muster a majority, despite back-door negotiations with various Shiite, Sunni and Kurdish blocs which also picked up seats.

http://www.zawya.com/Story.cfm/sidAN...ment%20session