E. 1999

the gulf of mexico and texas also we have apparently the highest natural gas reserves in the world

. [kcw] sourpuss Hello Adam! What is the update and where are we at on the HCL? has it been read once or twice? does it need 3 readings then posted in gazette? . [Adam Montana] It's been read once, does not HAVE to be read 3 times, but it needs to be published in the Gazette to become official [Adam Montana] sorry [Adam Montana] the official draft is approved [Adam Montana] submitted, has a bow on it, all that [Adam Montana] they can publish it in the gazette tomorrow if they want [Adam Montana] let's hope they do! [Adam Montana] next please Read more: not my opinion but Sir indiana Jones'

would someone who is good at looking over websites check the link to see if this is legit im not questioning the op by any means and this sounds awesome but its vague and i looked the site over and imo it seems legit :rolleyes: :rolleyes: :rolleyes:

it wasnt our to begin with all im sayin

Topic has been read 201 times 25/01/2012 Confirmed that the laws of the dictatorial regime in force made ​​investors in the maze of Baghdad, Qassim Hilfi minister described the construction and housing, financial allocations earmarked for the housing sector as a small percentage compared to the growing need of two million housing units to resolve the growing crisis faced by the country in this sector. He said Mohamed owner Darraji in an exclusive interview with "morning", that the laws of the previous dictatorial regime, which remains in force, contributed to the other block efforts to reduce the housing crisis, noting that these laws were introduced most of the investors in the maze can not find her way out. . He said that to those concerned that the knock on the alarm because the housing problem is exacerbated in light of population growth is steady, indicating that the country needs now to two million housing units, and what has been allocated funds within the budget this year is not enough to build more than five thousand housing units. He added that the case itself apply to the housing project the poor which needs to be two billion dollars to cover the cost of construction of 20 thousand housing units over four years, as planned, but what has been allocated for this project did not exceed $ 50 million, "which means we need 40 years to provide housing for the poor. " He described the form of the budget as a "conciliatory", ignore the housing crisis, to satisfy certain segments "for reasons of election," saying "the increase approved in the salaries of employees as a way not true in the economic approach to a country like Iraq, which is under construction, which requires adopt an economic and straightforward to establish the infrastructure to ensure the future of subsequent generations. " and noted that the Ministry had developed a set of mechanisms to find solutions to the problem of housing, including the doubling of allocations for building residential complexes to ten times, and the allocation of two billion dollars for affordable housing, as well as increasing the capital Housing Fund to one billion dollars, which was not included in the budget so far, calling on members of the Finance Committee in the House of Representatives to approve the amounts of the Fund and increase its capital so as to contribute to the reduction of the housing crisis, and otherwise, the ministry will resort to stockpiling recoveries of loans estimated at $ 100 million, which does not fill need assessments. He noted that the Housing Fund had contributed to the establishment of more than 16 thousand housing units during the last term, and that the ministry's plan for this year were required to build a multiple of this number, but the reality of the situation does not allow only achieve 10 percent of the decision. He appealed to Darraji members of Parliament and the Council of Ministers, as well as civil society organizations and the media, to "pause to remember the need to find a solution to this problem that need long years to resolve," noting that the duty of the Ministry's alert to the danger of the situation worsening. He pointed out in this regard need to approve the facilities legislative and executive of the investment law, explaining that there are laws from the time of the previous dictatorial regime remains in force until now, which is what made ​​most investors in the maze can not get out, he said. and called to cancel the law of the Revolutionary Command Council dissolved No. 51 of 2001, which prevents the handle with agents of Iraqi monopoly and those who want to import to go to Jordan or United Arab Emirates or other to import what he wants and in spite of informing all relevant legislative and executive, but the law still in force. He also asked the minister to rehabilitate construction companies and exclude a number of laws that restrict their work and give them priority in the implementation of projects government and increased incentives for engineers working on projects in various provinces. criticized the routine procedures followed by the Integrity Commission and the advisers and legal advisers that contribute to block the action of the State, warning that there are obstructing the work of the State's intent and legal arguments and flimsy, expressing regret for not being able to abolish the former governor L. Paul Bremer, who canceled the incentives engineers. focused and Minister of Construction on the problem of failure to provide land for the construction of complexes by the municipalities of the provinces and the secretariat of Baghdad, noting that his ministry had been trying for a year for the allocation of land to build a residential complex, but its efforts failed because of lack of response of the Secretariat Baghdad, noting that the problem is other incurred by these institutions are not providing services to the complexes. He noted that he submitted a proposal to the Council of Ministers stipulates that adopts the oil companies to win the rounds of licenses to build residential complexes that pay Akiemha amounts of oil produced, without weighing the budget, that the amounts paid over 25 years, indicating that this type of project which is called (SWIFT), contributed to the construction of several residential projects in the UAE. The Minister suggested that investment would be money obtained from premiums and selling condominium units completed in building new plants instead of depositing them in the Ministry of Finance, noting that the ministry put forward this proposal to the Finance Committee in the House, but has not so far received no answer so. and on the achievements of the Ministry of Construction last year, confirmed that it has achieved the first rank among the ministries in the rates of implementation budget, approval of the Finance Committee in the House of Representatives, in addition to what has been achieved in the framework of the plan percent on, noting that his ministry has made ​​implementation rate of 81 percent divided by 94 percent for the road sector and 95 percent of the buildings sector and 66 percent in the housing sector. He Darraji that the total residential which was to be implemented during the last year, according to the ministry's plan was 33 complexes have become after 48 complex after horizontal expansion, noting that these projects will provide within two years, nine thousand and 375 residential houses, and twenty thousand and 462 apartments. He added that the ministry has referred in the past year five thousand dwelling-house and low cost of implementation in a traditional construction in the area of the marshes, to the Iranian company specialized. The main projects included in the Ministry's plans for the current year, said Darraji: it includes the construction of nine apartment complexes in areas of Khatoon and Shatrah inspired housing, Sinjar and Tal Afar, WAM Hillel and Zorbatiyah and Alaptarh Hungary, the allocation of an annual proposal of 422 billion dinars, as well as the construction of seven bridges in Mosul, Tikrit, Hilla, Hungary, on the west, Nasiriyah and Suq allocate an annual proposal of 355 billion dinars. He stressed that the work of his ministry and plans will focus on building a clear strategy in the field of housing and roads, as well as contracts for the ministry with the World Bank which seeks to achieve the best investment of the funds available to it, and change the design by introducing modern techniques, indicating that the Angels and his ministry has succeeded in introducing techniques in construction, one Dutch and the other Austrian are lightweight and quick monument and rationalization of energy, as it used methods to isolate high commensurate with the climatic conditions of the country, along with reduction factors of time and cost. He Darraji that the Ministry has nine companies large and public agencies for housing and buildings, roads, bridges and circuits Construction engineering and laboratory construction and consulting a total of 18 institutions in addition to the ministry's headquarters, which employs more than 23 thousand registered member, of them (2691) employees working formula for decades, including four thousand, 882 engineers, indicating that these make up 12 percent of employees of the ministry. However, to say that the ministry is in dire need of thousand engineers, while the allocation of 100 degrees and careers only to the ministry this year. and on expanding the possibilities of the ministry through the provision of means of implementation facilitator, said Darraji that there is a road map established by the State led the advisers in the Prime Minister's Office in cooperation with relevant ministries, including directing the Iraqi economy, opening up to the private sector the adoption of the laws in force until the issuance of new laws enhance the resources of State, in addition to work on the transfer of ownership of state companies to the sector mixed supports the principle of partnership between the public and private sectors. He added that this approach has the Pentagon to the classification of its operating companies, making the work of its integrated among them. He explained that his ministry prior to the plan and was able to reduce the implementation time , noting that this year will witness the signing and implementation of a number of contracts, as it was signed the first contract in this regard with the Al-Jouf Saudi Arabia to build a plant for the production of five thousand tons of cement. The Minister of Construction said his ministry is about to prepare a study on the need for the new and the reality condition of the roads found, as expected the cause of that study what he described as "shock." He said the ministry and the inviting six major companies to study the effect of roads and the need to new ways and the proportion of rehabilitation work financed by the World Bank, noting that in his ministry several projects including a study to assess routes and determine the for Iraq, including the 25 years to come. He added there is another study to start in May next related to the transport sector in the country, is to link the railway to roads, airports and ports, revealing that one of the companies have started to clear the road from the port of Safwan and down to the port-Walid border crossing. stressed Darraji in the conclusion of his speech, the need to prosecute U.S. troops attached to the damage to roads and fences or international in various provinces. http://www.alsabaah.com/ArticleShow.aspx?ID=20576

are you not privy to the term smoke and mirrors

in the words of Dr. Evil "Riiiiight" you know as well as any other military person that a war with iran would not be a 5 second fly by U.S. is the **** but this war would include others and many would die it would not be another "iraq" n we didnt even fly over them in win a war in a day...

i think that may have been a catch 22 for obama i think if he had his way osama would be alive right now..this was one instance where his way wasnt the only way im sure it didnt bug obama much though a minor setback in the grand scheme of things

this article had a picture of a guy at a bank with a bunch of iraqi money if you click my link you will see it BUMP

i believe we overthrew the gov and installed the SHAA or something who was a dictator im not sure what the benefits of doing this were but it seems stupid for amercia to have done it in the first place

Topic has been read 93 visits 24/01/2012 Counted an important source of financing of the economic sectors of Baghdad - Yasser incumbent - Hussein Tgb paid a lot of banks and financial institutions issue of corporate governance attention Metzaidabad the growing role and the massive expansion of the private sector in economic development and develop the economies of countries. and the back of this role in the wake of economic collapse and financial crises in countries Many in the nineties of the twentieth century, as well as after the collapse of financial and accounting for many international companies and the subsequent bankruptcy of many banks. In order to highlight the importance of governance in the performance of the banking sector, we had this meeting with the academic and banking expert Dr.. Sadiq Shammari, who confirmed at the beginning of his speech that the availability of banking system is healthy and well is essential for the economic health of countries. He said, that the governance of banks means many things to many individuals is a topic important and vital role in the process of providing protection against corruption and the management at the same time promote the values ​​of free market economy to the growth in the number of shareholders in companies and lenders through the mechanisms of governance to achieve the implementation of market values, which is the accountability and transparency and the rule of law and the institution at work, justice and social responsibility towards all users of the «shareholders« employees, customers, society and the property itself «. and on the obligations which called for the use of governance He Shammari to that of the most important reasons that made ​​the eyes are on this style is the explosion of the financial crisis in Southeast Asia in 1997, Mexico and Argentina as a result of a crisis of confidence among business organizations, government, and for companies to access enormous amounts of short-term debt at the same time keen on non- knowledge of the shareholders of these things and hide this debt through the methods and accounting systems innovative. accompanied these circumstances the lack of legal systems and legislative and regulations and instructions for these companies and institutions and weak systems of supervision and control in addition to financial liberalization for many companies and opening up the global, including allowed for any investor to buy shares of any company, any place more difficult for him to follow-up actions of these companies directly came governance to provide protection to shareholders. He noted that other reasons pushed to think of running good governance to business organizations as a result of inference that behind this mess is a problem of mismanagement, so warranted the production style of good governance in order to limit problems . and the importance of governance in the treatment of this disorder, said Dr.. Sadiq Shammari that its importance lies in the organization of the work of banks and adjusted according to the rules and regulations of the mechanisms of private offers to owners and shareholders access to the management of banks with full transparency and disclosure, without interference. He also contributes to corporate governance in the development of private savings through created the confidence of the community to deal with banks with efficiency and the integrity and high skills, and gives the right to question the company's management in the investment trends and create a profit and to identify failures and risk while ensuring performance monitoring for the purpose of supporting the stability of financial markets and reflected that confidence by ensuring the safety of the business entity and ensure that the responsibilities and commitments to stakeholders. He said that the strengthening of trust between stakeholders and management will help to encourage banks and financial institutions to implement strategies that contribute to improving the performance indicators banking and avoid exposure to risk and crisis. He pointed to Iraq's need for corporate governance in the private banking sector to overcome the difficulties faced by the banks and get rid of ignorance and corruption and to achieve success and growth in the business of banks. and on the question about the problems and constraints faced by the Iraqi banking sector, said banking expert approved Shammari, who served as managing director of the National Bank of the Islamic as well as teaching the material sinks in a college of Iraq that the problems faced by banks is the result of rapid changes in information technology, as well as financial crises and for the purpose to avoid these crises should be the commitment of banks, regulations and international rules and abide by the rules of governance and its mechanisms as evidence of action to reform the financial and institutional. He Shammari said the lack of banking culture for many of the owners of capital and the weak role of boards of directors in exercising their powers of the lack of adequate qualifications and the lack of controls and mechanisms governing the structure and composition of these councils and failures to define the powers of the executive departments and in accordance with the instructions of the Central Bank of Iraq all these factors led to a gap between owners and managers called the agency problem, believed by many that the managers of companies to Ayamlon to achieve the interests of shareholders more efficient. and said: Anazh gap can be bridged only through the mechanisms of governance as the only way to determine the relationship between shareholders and the executive departments, pointing out that promoting the principles of good practices of governance and its mechanisms require passing through two channels as the first central bank in charge of organization and control of the banking system. The second is the banks themselves, considering that the absence of governance and its mechanisms will result to chaos and moral corruption can not control it. He concluded by saying a bank container President to mobilize deposits and savings of individuals and institutions both at the same time Musdramanma to finance most of the sectors of the economy due to the evolution of financial markets, so they are, any banks and other financial institutions are called upon today to be a leader in the adoption of the principles and mechanisms of governance, the Middle East region that poor governance tools in the banking systems has led to both economic crises and collapses. http://www.alsabaah.com/ArticleShow.aspx?ID=20515

New York, NY - These days, with a crisis atmosphere growing in the Persian Gulf, a little history lesson about the US and Iran might be just what the doctor ordered. Here, then, are a few high- (or low-) lights from their relationship over the past half-century-plus: Summer 1953: The CIA and British intelligence hatch a plot for a coup that overthrows a democratically elected government in Iran, intent on nationalising that country's oil industry. In its place, they put an autocrat, the young Shah of Iran, and his soon-to-be feared secret police. He runs the country as his repressive fiefdom for a quarter-century, becoming Washington's "bulwark" in the Persian Gulf - until overthrown in 1979 by a home-grown revolutionary movement, which ushers in the rule of Ayatollah Khomeini and the mullahs. While Khomeini & Co were hardly Washington's men, thanks to that 1953 coup they were, in a sense, its own political offspring. In other words, the fatal decision to overthrow a popular democratic government shaped the Iranian world Washington now loathes, and even then oil was at the bottom of things. I Knew Khomeini - Part One 1967: Under the US "Atoms for Peace" programme, started in the 1950s by President Dwight D Eisenhower, the Shah is allowed to buy a five-megawatt, light-water type research reactor for Tehran (which - call it irony - is still playing a role in the dispute over the Iranian nuclear programme). Defence Department officials did worry at the time that the Shah might use the "peaceful atom" as a basis for a future weapons programme or that nuclear materials might fall into the wrong hands. "An aggressive successor to the Shah," went a 1974 Pentagon memo, "might consider nuclear weapons the final item needed to establish Iran's complete military dominance of the region." But that didn't stop them from aiding and abetting the creation of an Iranian nuclear programme. The Shah, like his successors, argued that such a programme was Iran's national "right" and dreamt of a country that would get significant portions of its electricity from a string of nuclear plants. As a 1970s ad by a group of US power companies put the matter thus: "The Shah of Iran is sitting on top of one of the largest reservoirs of oil in the world. Yet he's building two nuclear plants and planning two more to provide electricity for his country. He knows the oil is running out - and time with it." In other words, the US nuclear programme was the genesis for the Iranian one that Washington now so despises. September 1980: Iraqi ruler Saddam Hussein launches a war of aggression against Ayatollah Khomeini's Iran. In the early 1980s, he becomes Washington's man, our "bulwark" in the Persian Gulf, and we offer him our hand - and also "detailed information" on Iranian deployments and tactical planning that help him use his chemical weapons more effectively against the Iranian military. Oh, and just to make sure things turn out really, really well, the Reagan administration also decides to sell missiles and other arms to Ayatollah Khomeini's Iran on the sly, part of what became known as the "Iran-Contra Affair" and which almost brings down the president and his men. Success! "In more than 50 years, America's leaders have never made a move in Iran that didn't lead to unexpected and unpleasant blowback... what could possibly go wrong?" March 2003: Saddam Hussein is, by now, no longer our man in Baghdad but a new "Hitler" who, top Washington officials claim, undoubtedly has a nuclear weapons programme that could someday leave mushroom clouds rising over US cities. So the Bush administration launches a war of aggression against Iraq, which, like Iran, just happens to - in the words of Deputy Secretary of Defence Paul Wolfowitz - "float on a sea of oil". (Bush officials hope, in the wake of a "cakewalk" of a war to revive that country's oil industry, to privatise it, and use it to destroy OPEC, driving down the price of oil on world markets.) Nine years later, a Shia government is in power in Baghdad closely allied with Tehran, which has gained regional strength and influence thanks to the disastrous US occupation. So call it an unblemished record of a kind not easy to find. In more than 50 years, the leaders of the US have never made a move in Iran (or near it) that didn't lead to unexpected and unpleasant blowback. Now, another administration in Washington, after years of what can only be called a covert war against Iran, is preparing yet another set of clever manoeuvres - this time sanctions against Iran's central bank meant to cripple the country's oil industry and crack open the economy followed by no-one knows what. And honestly, I mean, really, given past history, what could possibly go wrong? Regime change in Iran? It's bound to be a slam dunk. Tom Engelhardt, co-founder of the American Empire Project and the author of The American Way of War: How Bush's Wars Became Obama's as well as The End of Victory Culture, runs the Nation Institute's TomDispatch.com. His latest book, The United States of Fear (Haymarket Books), will be published in November. A version of this article first appeared on TomDispatch. The views expressed in this article are the author's own and do not necessarily reflect Al Jazeera's editorial policy. http://aljazeera.co.uk/indepth/opinion/2012/01/201211812120940853.html

Ima herman Cain supporter all the way

Baghdad / term Central Bank of Iraq, said Thursday, raising the price of the Iraqi dinar against the dollar by 3.4%, confirming that the decision would affect the exchange rate of the dinar against the U.S. dollar in the Iraqi market. The deputy governor of the Central Bank of the appearance of Mohammed Saleh in an interview for “Alsumaria News”, “The Bank’s work on raising the prices of the Iraqi dinar against the dollar during the sessions for the sale and purchase of foreign exchange by four dinars and by 3.4% to up to 1166 dinars to the dollar,” noting that “the price of the dinar nominal is not commensurate with the purchasing power to him or the real price of the exchange rate dinar against the dollar. ” Saleh added that “current account payments to Iraq where a large surplus relative to GDP, a rate of 5-8%,” stressing that “the surplus is a sign of strength and not vice versa as well as the existence of large reserves of the Bank.” Saleh pointed out that “the dollar exchange rate in the Iraqi markets that recently experienced a slight increase will be affected by the decision of the Central Bank of Iraq,” adding that “the Iraqi dinar will be attractive in the Iraqi market.” The Central Bank of Iraq announced, yesterday, Thursday, for his buy and sell dollar price of 1166 dinars during the auction, hosted by the daily participation of 23 banks, up from the selling and purchase price of 1170 dinars to the dollar and recorded sales of Central Bank of Iraq at the conclusion of its sessions for the current week slightly lower at about one million dollars to more than $ 199 million, compared to Day on Wednesday, which reported a nearly $ 200 million. The Deputy Governor of the Central Bank of the appearance of Mohammed Saleh (January 14, 2012), all intended to put three categories significantly after deleting three zeros from the Iraqi dinar, pointing out that the process of replacing the currency will take two years. As announced in favor of the (January 6, 2012) for high reserves of the Iraqi Central Bank foreign currency to the $ 60 billion for the first time in the history of Iraq, while stressing its ability to curb inflation if it came to ranking places, considered that current levels do not raise concern. And the foundations of the Iraqi Central Bank as an independent institution under the law issued on the sixth of March of 2004, as an independent body is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and management of foreign reserves and the issuance of currency management, as well as to regulate the banking sector to promote the system competitive financial and independent. It is noteworthy that the CBI is being daily sessions for the sale and purchase of foreign currencies with the exception of public holidays during which depends on those. http://almadapaper.net/news.php?action=view&id=57989 0 Comments http://www.ameraq.org/?p=695

BAGHDAD / Aswat al-Iraq: The Central Bank of Iraq (CBI) has registered a minor rise in its auction for sale and purchase of foreign currencies, to reach the selling of US$202 millions and 60,000 US dollars, covered by the CBI on Monday, compared with 200 million US dollars in its previous session, at an exchange rate of 1,166 dinars per dollar, the CBI's daily bulletin reported. "The total size of demand on the US dollar has reached 202 millions and 60,000, covered by the CBI on an average rate of 1,166 dinars per dollar on Monday, whilst the Bank's sales had recorded 200 millions and 310,000 US dollars in its Sunday session," the bulletin stressed. The bulletin pointed out that "the Bank's cash sales had reached 19 millions and 750,000 US dollars, on an exchange rate of 1,179 dinars per dollar, including the Bank's interest rate of 13 dinars per dollar, whilst the foreign transfers have reached 182 millions and 310,000 US dollars; none of the banks that attended the sessions, including the 19 banks that attended today's session have offered a single dollar for sale. The CBI holds 5 weekly sessions for selling and buying foreign currencies, beginning on Sunday and ending on Thursday, charging 13 dinars per dollar for its cash sales, along with another 13 dinars for its foreign transfers. SKH (TP)/SR http://en.aswataliraq.info/(S(br4d5355acbe2p4530raeg45))/Default.aspx?page=article_page&c=slideshow&id=146604

AMMAN: Iraqi Housing and Rehabilitation Minister Mohammad Darraji has urged Jordanian construction firms and contractors to establish a foothold in Iraq, saying Jordanians have a real opportunity for contributing to Iraq's huge rebuilding projects for which the government has allocated $40 billion in 2012. Darraji made the remarks during a meeting with Jordanian Minister of Public Works and Housing Yahia Al-Kasbi and leading businessmen in the construction sector. "In a reconstruction blueprint unprecedented in the Arab area, the Iraqi government has allocated 40 billion dollars this year out of its $112-billion budget for development projects in the spheres of infrastructure, electricity, education and health," the Iraqi minister said. "Given their expertise and reputation, Jordanian and other Arab contracting firms can have a tangible role in the Iraqi reconstruction process," he added. He defended the security situation in Iraq which so far hindered Jordanian business presence in the neighboring country, saying investments in the reconstruction activity would be guaranteed by the Iraqi government. Media reports have quoted Oil Minister Abdul Kareem Al-Luaibi as saying that Iraq will boost output capacity this year to 3.4 million barrels a day and export capacity to 2.6 million barrels. Exports will benefit from a new offshore loading facility in the Gulf that will go into service on Jan. 25, he said at a news conference in Baghdad. Iraq discovered an oil field called Al-Deema 400 km south of the capital in Al-Amarah province, Al-Luaibi said. The field contains "high reserves" of light crude, and workers are drilling wells to determine its size, he said. Iraq holds the world's fifth-largest crude deposits that also include Canadian oil sands, according to data from BP. Production is rising after stagnating for years due to wars, economic sanctions and a lack of investment. Output jumped in December to more than 3 million barrels a day, the highest level for at least 20 years, and exports rose last month to 2.2 million barrels a day, Hussain Al-Shahristani, the deputy prime minister for energy affairs, said on Dec. 22. The first of four single-point mooring facilities planned off Iraq's southern coast will begin operating next week, Luaibi said. Each of them will add 850,000 barrels a day in capacity for exports of crude. The second mooring unit will be in place within six months, the third by the end of 2012 and the fourth in 2013, Al-Shahristani said. The government has granted 15 oil and gas licenses since the 2003 invasion that ousted former President Saddam Hussein. The Oil Ministry plans a new round of licenses for oil and natural-gas exploration on April 11-12. © Arab News 2012 Access to this article is subject to specific terms and condition. http://www.zawya.com/story.cfm/sidZAWYA20120120072221/Jordan_contractors_invited_to_join_40bn_Iraqi_reconstruction_plan

BAGHDAD / Aswat al-Iraq: Oil Ministry spokesman Asim Jihad announced today that the volume of Iraqi oil exports in December 2011 reached to 66.5 million barrels, in an increase compared to November 2011 exports that reached to 64.1 million barrels. Jihad told Aswat al-Iraq that the revenues were increased to reach 7.061 billion dollars, compared to November figures of 6.833 billion dollars. He added that 53.7 million barrels were exported from Basra terminal with a revenue of 5.722 billion dollars , while Kirkuk exports reached to 18.8 million barrels with the amount of 1.339 billion dollars. "These shipments were sold to 36 international companies", he added.http://www.zawya.com/story.cfm/sidZAWYA20120123075311/Iraqi_oil_exports_and_revenues_for_December_2011_released

BAGHDAD / Aswat al-Iraq: The Special Budget for Iraq's Para-Olympic Committee for the year 2012 will be no less than 10 billion Iraqi dinars, according to a statement by the Committee's Chairman, Qahtan Tayih al-Nueimy on Sunday. "The Para-Olympic Committee has presented a demand, calling for the approval of the budget, we had suggested to exceed 10 billion dinars for the year 2012, compared to last year's budget of 9 billions and 350,000 dinars," Nueimy told Aswat al-Iraq news agency, expressing hope that the Iraqi Parliament would approve the new budget.Iraqi disabled sportsmen have scored 8 medals in the Arab Sports Tournament, that took place in the State of Qatar at the end of last year, including 4-gold, 3-silver and 1 bronze. © Aswat Aliraq 2012 Access to this article is subject to specific terms and condition. http://www.zawya.com/story.cfm/sidZAWYA20120123080248/ParaOlympic_2012_budget_no_less_than_10_billion_dinars__official

BAGHDAD / Aswat al-Iraq: The Iraqi Parliament is scheduled to discuss in its Monday session the draft-law for the country's Federal Budget for the year 2012, along with several other draft-laws, including the draft-law on the rules for the nomination of the President, according to a Parliament's statement. "The Parliament shall resume its discussion of the Federal Budget for the year 2012, along with the organization of the draft-law for the nomination of the President and the the nomination of one or more than one Vice-Presidents for the country," the statement, as was received by Aswat al-Iraq news agency, stressed. "The Parliament will also vote on several draft-laws for the adjustment of Iraqi Penalties Law No. 111 of 1969, the draft-law for Iraq's joining of the International Agreement for Fighting Activation Elements in the Field of Sports, the draft-law on Iraq's Joining of the UN Agreement for the Disabled Persons Rights, along with several other draft-laws," the statement added. SKH (TS)/SR http://en.aswataliraq.info/(S(xwvhbw55piyzbgu4yybosuqg))/Default.aspx?page=article_page&c=slideshow&id=146601

Gulf banks shut out US clients Text size By Ryan Harrison January 2012 Obama's intrusive regulations are simply too much trouble. Emirates NBD is mulling plans to halt its private banking services to American clients to avoid falling foul of new US rules on tax evasion, Gulf Business has learned. The decision would be the latest snub for wealthy US citizens living abroad. In July last year, HSBC said it would axe wealth management services to US clients in the Gulf. Meanwhile, in Europe, private bank Brewin Dolphin early last year became the latest in a list of departures that includes UBS, Julius Baer and Bank Sarasin. The main gripe for private banks is the sensitivity of information they will have to disclose about their US clients. Gary Dugan, chief investment officer for private banking at Emirates NBD, told Gulf Business: "We're worried about the increasing regulations and disclosure rules for investments in the US and in particular for our US clients [in the Middle East]. It could create more problems than the customers are worth. The US authorities make it very difficult for its citizens to bank abroad. And for us, it may mean that we have to tell US authorities all sorts of delicate details. "The biggest worry is that is if any of our US clients wants to make an investment in US equities or treasuries what will be the future disclosure rules? For instance, will we have to disclose information on US clients because they hold IBM shares? They might not want to," added Dugan. By 2013, all banks outside the US will have to comply with a new act signed by America's President Barack Obama. The regulations oblige international financial institutions to reveal all accounts held by US citizens that contain more than $50,000. Banks that do not comply will be subject to a 30 per cent withholding tax on all payments made to them in the US. Credit Suisse last July confirmed it was the target of a US Department of Justice probe while rival UBS was forced to pay a $780 million fine and hand over the information of around 5,000 secret accounts held by US citizens in 2009. HSBC Middle East said in a statement in the summer: "After a review of services that can be provided to US clients from locations outside of the US, we believe that US clients will be better served by our private banking teams in the United States." HSBC is based in London but has Swiss-style private banking services around the world. In the immediate aftermath of the bank's decision to halt US-focused private banking, analysts predicted few GCC financial institutions would follow suit. However, the Emirates NBD decision could tip the scales, given that it is the UAE's biggest bank by assets and one of the largest in the Middle East. It is unlikely to derail the growth of private banking in the region, but will send out strong signals to US authorities. Experts say over the coming years there will be a shake-out in the industry between those willing to service US offshore clients and those who won't. And Emirates NBD and HSBC's moves are perhaps the beginning of this growing division. At the extreme end, some private banks are exiting US securities entirely. Switzerland's oldest bank Wegelin & Cie, wrote to clients in 2009 announcing it would no longer trade US securities because of rules changes. Although Emirates NBD has not made its final decision on whether to wash its hands of US private banking clients, the strain of the changing US policy is starting to show. How onerous the US authorities' rules become could determine the extent of financial pain that wealthy Americans have to endure in the Middle East. If the last 12 months is anything to go by, the landscape looks likely to shift dramatically in the next year. © Gulf Business 2012 http://www.zawya.com/story.cfm/sidZAWYA20120122082738/Gulf_banks_shut_out_US_clients

BUDAPEST -(Dow Jones)- Hungarian oil company MOL Nyrt (MOL.BU) Monday announced the spudding a new appraisal well at its exploration venture in Iraq along with the initial results of other exploration in the area. MAIN FACTS: -The new, Aqra-1 appraisal well is designed to a go down to an estimated 4,700 meters. -The drilling rig is provided by Crosco, the subsidiary of INA, a member of the MOL group. -MOL has completed two tests on the Shaikan-4 appraisal well. -Shaikan-4 achieved a flow rate of 563 barrels of oil per day in the Kurre Chine C formation. -Shaikan-4 achieved a flow rate of 4,970 barrels of oil per day in the Kurre Chine B formation.-MOL, via its 100% subsidiary, Kalegran Ltd., signed a production sharing contract with the Kurdistan regional government for the Akri-Bijeel and Shaikan exploration blocks in 2007. -The operator of the Akri-Bijeel block is Kalegran Ltd. with 80% participating interest. Gulf Keystone Petroleum International Ltd. holds 20% share. -Budapest Bureau, Dow Jones Newswires, +36-1-267-0622; budapest@dowjones.com (END) Dow Jones Newswires January 23, 2012 03:10 ET (08:10 GMT) http://www.gfmag.com/latestnews/latest-news-old.html?newsid=1.2501719E7

UAE Islamic banks account for 30% of global Islamic banking industry In News on January 23, 2012 by noorislamicbank Tagged: Islamic Bank The report revealed that the UAE Islamic financial services sector represented 30% of the global Islamic banking industry in 2011 and due to the growing demand for Islamic financial services among different customer segments within the UAE. The report showed that Islamic banks have played a major role in financing UAE infrastructure projects, residential properties for UAE nationals and development of the human capital market through training of national talent. Commenting on the report, Tirad Mahmoud, CEO of Abu Dhabi Islamic Bank, said, “UAE Islamic banks play an important role in the development of the global Islamic banking industry which is now valued at more than US$1 trillion. This growth in the Islamic banking industry is driven by the increased demand for Islamic services and products by a growing number of customers. Demand is growing due the industry’s emphasis on ethical principles, its commitment to the principles of transparency and the application of the principle of mutual benefit in its operations and transactions.” Tirad Mahmoud highlighted the effective role of Shari’a committees, which are independent from bank managements, in regulating and controlling banking operations. They ensure compliance with Shari’a principles and enforce the principles of transparency and mutual benefit in all banking transactions. He also praised the support that Islamic banks receive from the UAE Central Bank which helps develop the sector and has led it to achieve a global recognition. Islamic banking assets in MENA rose to US$ 416 billion in 2010. This represented a cumulative annual growth rate of 20% over five years, compared with less than 9% for conventional banks. “Although there are similarities in the nature of work of Islamic and conventional banks, there is a vast difference in their financial mechanisms and transactions. In Islamic banking for example, the rates of Murabaha are fixed and known to the client from the moment the contract is signed. Islamic Banks cannot increase that rate even in the event that the client is unable to meet monthly payments on time,” added Tirad Mahmoud. The Abu Dhabi 2011 Report aims to provide a snapshot of the Islamic banking sector in the UAE, specifically in the Emirate of Abu Dhabi. It is an increasingly important reference for the industry and contains a wide range of interviews with leaders of the Islamic banking sector. bi-me.com Noor Islamic Bank Social Media http://noorislamicbank.wordpress.com/

中广网 Beijing on January 23, according to Voice of China “CNR News” reported that the 23 EU foreign ministers gathered in Brussels, Belgium, additional sanctions against Iran finalize the program. Thus, the basic EU oil embargo against Iraq is no longer suspense, but for military action against Iraq, the European Union, NATO, there is no strong will. Details, to connect China’s international news editor of high sound drizzly. Moderator: Xiaoxiao, please give us some details. Reporter: Earlier, the EU member states on whether to ban imports from Iran’s crude oil and petrochemical products have considerable differences on the issue. One of the biggest opposition comes from the Greek. Against the fundamental reason is that Greece rely on more than one third of Iran’s crude oil supply. Once banned oil imports from Iran, Greece will have to be imported from other countries at higher prices. Which will no doubt hit by the debt crisis of the Greek economy even worse. Therefore, Greece has repeatedly asked the EU to participate in its oil embargo against Iraq suffered economic losses may be compensated at the same time asked the EU to help them find new sources of oil. reported that the Greek demands solutions and financial arrangements have been found. EU member states have agreed to help Greece, Greece is currently only involved in the oil embargo against Iraq to assess the losses incurred. That in the settlement of the Greek oil supply problem, the EU member states in the oil sanctions against Iran that no longer exists on the issue of substantive obstacles. On the other hand, in recent days, Iran’s nuclear-related parties have been cool to release a signal for the situation in the Gulf. 15, Iranian Foreign Ministry spokesman confirmed that Iran received a letter from the U.S. government about a letter the Strait of Hormuz, according to an Iranian members that U.S. President Barack Obama addressed Iran’s Supreme Leader Ayatollah Ali Khamenei to this The letter called on Iraq’s secret direct talks; 16, Israel announced the postponement was widely considered to be against Iran to the United States joint military exercises; 18, NATO Secretary General Anders Fogh Rasmussen said that NATO is not involved in Hall Wood Zihai Gap plans to the situation, while calling on Iran to ensure the smooth strait; 18 day, Russian Foreign Minister Sergei Lavrov said in Moscow that Iran is ready to restart nuclear talks; 19, is visiting Turkey, Iranian Foreign Minister Salehi suddenly changed his tune, saying Iran never tried to blockade the Strait of Hormuz, the Iranian nuclear issue, the key is to immediately restart the negotiations, especially in the 20 United States, Germany, France and the three countries also issued a willingness to talk to Iran to avoid the sound of war, and well-known think tank in Brussels director of the European Policy Center, said a military solution for Iran’s nuclear issue, neither the EU Member States will also now not prepared. http://www.financial-post.com/iran-oil-embargo-the-eu-will-reach-a-final-solution.html

Baghdad Iraq and Kuwait are considering a plan to pay the war reparations which Baghdad still owes its neighbour into a fund for Iraqi investments, the UN’s envoy said yesterday. Iraq, which pays five per cent of its oil revenues into a UN reparations fund, is required to hand over another $18 billion (13.92bn euros), the bulk of it to Kuwait. Iraqi leaders have frequently called for oil-rich Kuwait to review its demands for payment. “There is a proposal on the table that the amount still outstanding is reinvested in Iraq,” Martin Kobler, the UN chief’s special representative to Baghdad, said in an interview. “So that this is in a kind of trust fund ...(and) the (UN) resolution is fulfilled, however the money is reinvested in Iraq for the benefit of the people of Iraq.” He continued: “I think this is a good proposal and the two parties are negotiating this.” Iraq has so far paid out $34.3bn to claimants for ousted dictator Saddam Hussein’s 1990 invasion of Kuwait, of which around $25bn has gone to Kuwait. Since Saddam’s overthrow in the US-led invasion of 2003, Iraq has repeatedly appealed to Kuwait and other countries to waive tens of billions of dollars in compensation and debt payments. Iraq also owes Kuwait around $16bn for loans which Saddam took out to fund his 1980-1988 war against Iran that was largely bankrolled by the oil-rich Arab states of the Gulf. Baghdad has also raised objections to a sea port being built by Kuwait on Bubiyan Island that Iraq fears will strangle its shipping lines. :rolleyes: :rolleyes: :rolleyes: http://www.dt.bh/newsdetails.php?newsid=220112165202&key=301110213629

The United Arab Emirates says said it will scrap $5.8 billion in debts owed by Iraq, Emirati foreign minister Sheikh Abdullah bin Zayed al-Nahayan said. The UAE has decided to waive Iraq's debt of $5.8 billion and backs holding the next Arab summit in Baghdad, Foreign Minister Shaikh Abdullah Bin Zayed Al Nahyan announced. "An agreement will be signed soon to lay out the legal framework for waiving old Iraqi debt of $5.8 billion," Sheikh Abdullah told a joint news conference with his Iraqi counterpart Hoshyar Zebari. On holding the next Arab summit in Baghdad, Sheikh Abdullah said there was a decision by Arab leaders to this effect. Minister Zebari thanked the UAE for cancelling the debt, which he described as “a very heavy burden” on Iraq. He said, “The relations between the two states did not stop , but we have started the official framework of cooperation.” The debt consists of a combination of loans and grants. Zebari said the general secretariat of the Arab League will send a delegation to Iraq on January 23 to assess the situation there and the preparedness of Baghdad to hold such a summit. There are security concerns as violence has surged across Iraq since the last American troops left the country, with a string of bombings that has left at least 150 people dead since the beginning of the year. http://www.newzglobe.com/article/20120122/uaes-new-year-gift-iraq Iraq also thanked the UAE for supporting the decision to hold the next Arab summit in Iraq.