saradise

I disagree with you....Iraq may be a hot mess, but it HAS to happen. There's too much evidence that proves they HAVE to do something and need to do it soon.

Iraqi Kurdish Parties Dispute Law Extending Barzani Presidency By: Abdel Hamid Zebari for Al-Monitor Iraq Pulse Posted on July 11. The Iraqi Kurdistan parliament ratified two laws to extend the term of Iraqi Kurdistan Region President Massoud Barzani by two years, and to extend the current parliamentary session for two months. This comes amid signs indicating an objection to the decision at a time when there is talk among the three Kurdish opposition forces in the Kurdistan parliament — the Movement for Change, the Islamic Group and the Kurdistan Islamic Union — about several pressure cards that can be used in case the laws go into force, including organizing demonstrations against Barzani. The Iraqi Kurdistan parliament’s regular session on June 30, 2013 devolved into physical fighting, with members of the three opposition blocs attacking the parliament speaker with water bottles. The opposition forces in the Iraqi Kurdistan parliament control 35 out of 111 seats — 25 for the Movement for Change, four for the Islamic Group and six for the Islamic Union. This is compared to the 59 seats of the Kurdish bloc, which represents the ruling Kurdistan Democratic Party (KDP), led by Barzani, and the Patriotic Union of Kurdistan (PUK), led by Iraqi President Jalal Talabani. The number of opposition MPs do not constitute the quorum required to reject the laws, whereas the Kurdish bloc was able to do so, given that laws are ratified after the approval of a two-thirds majority of MPs. A statement by the Iraqi Kurdistan parliament mentioned that the law, which was ratified by a parliamentary majority, extends the term of the Kurdistan region president from Aug. 20, 2013, to Aug. 19, 2015. Moreover, Article 10 of the law of the presidency of the Kurdistan region of Iraq specifies, “The president of the region is authorized to promulgate laws enacted by the Iraqi Kurdistan National Assembly (parliament) within 10 days as of the date of their enactment. The president may completely or partially object to these laws and refer them back to parliament for re-examination. The parliament’s decision on these referred laws shall be deemed final.” The focus is currently on Barzani to show his position regarding these two laws after his July 4 return from his European tour, which included stops in Russia, Romania and France. He then went to Baghdad to meet with Iraqi Prime Minister Nouri al-Maliki after a three-year rupture. The Iraqi Kurdistan Region presidency had announced on July 1 that Barzani would express his position upon his return from his tour. For its part, the Kurdish opposition in the Iraqi Kurdistan parliament — the Movement for Change, the Islamic Group and the Kurdistan Islamic Union — is considering several options to exert pressure on Kurdistan’s presidency, if Barzani were to sign the laws. The opposition, which has not yet made a final decision, is heading toward either mobilizing the Kurdish public opinion, withdrawing from the political process or collecting signatures of citizens. In a statement to Al-Monitor, Ashti Aziz, an MP in the Movement for Change, said, “The opposition forces do not exert direct pressure on the Kurdistan region president. Yet they are putting pressure on the public because this issue has become important for the public, and is a clear violation of many laws, including the Iraqi Kurdistan parliament internal bylaws, the draft constitution before it goes into force and a direct violation to the Kurdistan Region Presidency Law.” Aziz emphasized, “The pressure entirely goes toward creating a [favorable] public opinion regarding the issue, and mobilizing the Kurdish street not to accept violations [made] by parties in power.” Aziz sees the steps taken by Barzani since his return from Europe as being unresolved and prove that thus far he has not made a final decision on whether or not he will sign the two laws. She added, “I think that all steps taken by the president of the Kurdistan region are unresolved and not well considered, for if this was not the case, he would have consulted Kurdistan’s citizens and made a speech. Yet a week has passed without getting any position from him.” Aziz said, “I believe that Barzani’s intention is to sign the laws, yet he fears the reaction of the Kurdish street and opposition forces. For this reason, we see him taking his time before signing and announcing his position.” Observers believe that Barzani’s meeting with Kurdish parties and forces, whether or not they have seats in parliament, does not affect the political process in Kurdistan. In this regard, political analyst Zarzis Cooley Zadeh told Al-Monitor, “These forces and parties are very small. They are more so groups than parties or political movements. They are founded on financial interests and privileges, not on an intellectual and political ideology. They are not similar to the opposition parties, which were founded on religious or intellectual beliefs, or on a reformist idea.” He said, “Many of these parties could not get a single seat in the Iraqi Kurdistan parliament, so how will they have influence on public opinion to support Barzani’s decisions?” Moreover, in a position that seems strange to the political scene in Kurdistan, Sirwan Zahawi — a former MP from the Kurdistan Alliance bloc in the Iraqi parliament, and a member of the KDP headed by Barzani — said that the two recent laws to extend Barzani’s term and that the current parliament session are illegal, according to the Iraqi Kurdistan parliament’s internal bylaws. In a statement to Al-Monitor, Zahawi said, “After a six-day study, I came to the conviction that the laws ratified by the Iraqi Kurdistan parliament on June 30, 2013, are not in accordance with Articles 54, 59 and 71 of the amended Iraqi Kurdistan parliament law No. 1 for 1991.” He added, "The majority has the right to promulgate laws. However, it should not violate the applicable laws or the institutional work of the Iraqi Kurdistan parliament, and it should use legal methods.” He also explained that the Kurdistan region is in the process of building an institutional state, and does not have to violate the applicable laws, stressing the need not to breach the laws. At the same time, he called on Barzani to demand that the Iraqi Kurdistan parliament reconsider these laws. He added, “I believe that it will be better if Barzani demands that the Iraqi Kurdistan parliament review the laws, allowing all MPs to hold broader discussions on these laws, and to issue them legally, so that their issuance does not embarrass any party.”

Iraq offers 3 oilfields to India, agrees to renegotiate on OVL: Moily New Delhi: In a first from an oil-rich Gulf nation, Iraq has offered three discovered oilfields to India on nomination basis and has agreed to renegotiate an oil block that has been pending since 2000. Iraq, India's second-largest crude oil supplier after Saudi Arabia, offered to give state-owned Indian firms Kifil, West Kifil and Merjan discovered oil blocks in the Middle Furat oilfields on nomination basis, Oil Minister M Veerappa Moily told reporters here. Moily, who returned from Baghdad after attending the Indo-Iraq Joint Commission Meeting, said the "fields are discovered and work can immediately start." This is the first time in recent past that an oil-rich Gulf nation has offered fields on nomination basis. Previously, Iraq and other Gulf states asked Indians to participate in an international competitive bidding to get the oilfields. Also, Iraq has agreed to immediately renegotiate and conclude the contract for Block 8 with ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, he said. Block-8, located in the western desert in southern Iraq bordering Saudi Arabia and Kuwait, was awarded to OVL in November 2000 by the then Saddam Hussein government. However, the government formed after the US invasion of the oil-rich country, sought re-negotiation of the contract which has been pending so far. The post-Saddam Hussain regime had initially agreed to signing of a Production Sharing Contract (PSC), where OVL would have got ownership of the oil it produced from Block-8. But the success of post-war licencing rounds, where global majors committed to develop oilfields for a small fee, has seen Baghdad change track and offer a service contract to OVL. The Block 8 already has a discovery and is estimated to hold 645 million barrels of in-place reserves, of which 54 million are recoverable. Officials said the contract for all the four blocks would be a service contract wherein OVL will be paid a fixed per barrel fee for its efforts in exploring and producing oil. Moily said Iraq also agreed to consider investment in the upcoming 15 million tonne a year oil refinery of Indian Oil Corp (IOC) at Paradip in Orissa. "The Iraqi side also expressed interest in the proposal of IOC for participation in a refinery project in Iraq," he said adding the OPEC producer committed to meeting the long term requirement of crude oil of India and was also open to consider more favourable commercial terms including extending the interest free credit period from 30 to 60 days. Iraq supplied 24.04 million tons of crude oil in 2012-13. "Possibilities for cooperation in the gas sector that could include import of LNG from Iraq, Indian participation in exploration as well as value addition through petrochemical projects and liquefaction terminals in Iraq were discussed," he said. Exploration and development contract for Block-8, Western Desert, was signed by OVL with the Oil Exploration Company of Iraq, on 28 November 2000, at New Delhi. As per the 2000 contract, OVL was to reprocess and interpret existing 2-D seismic data. It was also to acquire, process and interpret 1,000 km of 2D and carry out 300 sq km of 3D seismic survey besides drilling two wells. The service contract now being drawn would be similar to the one China National Petroleum Corp (CNPC) had signed recently for developing Al-Ahdad oilfield in central Iraq. OVL would act as the operator of the field until it recoups all its costs and set up a joint operating company with the local operator to take over once development costs have been repaid. Baghdad has, however, refused the Tuba oilfield for which OVL in consortia with Reliance Industries and Algeria's Sonatrach were in negotiations before the US attack on Iraq. OVL-Reliance-Sonatrach had been shortlisted for Tuba in 2000 but the contract could not be signed. Tuba lies in southern Iraq between the Rumaila and Zubair oilfields and could reportedly yield as much as 300,000 barrels per day (bpd) of medium and heavy crude. "Iraq is renegotiating terms for all the contracts signed by the previous Saddam Hussein regime. But those like Tuba which had not been signed, the fields will be put on auctions," an official said. Moily said he had that the JCM meeting, which was happening after a gap of 7 years, highlighted the keenness of Indian companies for participation in the Nassiriya integrated oilfield and refinery project. Reliance Industries has been shortlisted for the project. Also, Indian side expressed keen interest on investment in existing and new Ammonia-Urea plants. "After detailed deliberations it was agreed to have a Letter of Intent and Confidentiality agreement to establish an urea plant and phosphate fertilizer unit as joint sector projects in Al-Qaim/Al-Anbar area in Iraq which has all facilities like water, natural gas, railway connectivity to the port, phosphate etc, which are crucial requirements for the success of the fertilizer projects," he said. Considering the abundant availability of Sulphur in Iraq, India expressed its intention for immediate import of Sulphur from Iraq. The issue regarding pending dues of Indian companies of USD 2.29 billion was discussed in detail and it was agreed that Iraq would examine the same and revert before the visit of their Prime Minister to India. Both sides also agreed to expand the trade basket and make it more diversified. **There are a ton of articles about this right now, here are a few others: http://www.business-standard.com/article/economy-policy/iraq-offers-3-oilfields-to-india-on-nomination-basis-moily-113071100591_1.html http://www.thehindubusinessline.com/economy/iraq-offers-3-oil-blocks-to-india/article4905022.ece http://www.thehindu.com/business/Industry/iraq-offers-3-oil-fields-to-india-on-nomination-basis/article4905425.ece http://profit.ndtv.com/news/industries/article-india-offered-three-discovered-oil-blocks-by-iraq-324348 http://www.globalpost.com/dispatch/news/regions/middle-east/iraq/130711/iraq-finds-three-new-oil-fields-offers-india-developme

Another one..... Iraq’s banking sector to maintain steady growth BAGHDAD — The Iraqi banking sector is set for significant earnings and asset growth over the next decade driven by a strong macro environment, increasing credit penetration and the improving security situation in the country, a new report released by Sansar Capital Management LLC said. With the International Monetary Fund (IMF) forecasting Iraq’s GDP to grow at a rate of 9 percent in 2013, the banking sector in particular is expected to maintain steady growth over the next few years, the report said on Thursday. The Sansar Capital report points out that rising credit penetration is also expected to further fuel banking sector growth. The report cites a World Bank study which shows that Iraqi domestic credit to GDP stood at a mere 9 percent of GDP at the end of 2011 as compared to a 55 percent of GDP average for the Middle East and North Africa (MENA) region. Domestic credit to GDP grew at a clip of 89 percent CAGR or compound annual growth grate between 2009-2011. Moreover, according to data of Central Bank of Iraq, cash credit, such as loans and overdraft facilities, have grown at an impressive CAGR of 50 percent from 2006-2011. The detailed report analyses the Iraqi private banking sector through the perspective of the country’s five largest private banks by deposit. The report reveals that buoyed by strong economic growth and rising credit penetration, these five banks saw their aggregate net income grow by 207 percent between 2010-2012. Dilution driven by increases in equity capital resulted in earnings-per-share growth to be lower but still impressive with aggregate EPS growth of 111 per cent from 2010-2012. The report explores an odd idiosyncrasy in the Iraqi markets where banks with highest return-on-equity and growth profiles trade at the lowest valuation multiples. Sansar believes this is an example of market inefficiency which provides opportunity for those paying attention. The report also closely examines the reported financial statements of the Iraqi banks and demonstrates that adjusted underlying profitability and Return-on-Equity (ROE) for the banks significantly exceeds reported numbers with some banks approaching 60% underlying ROEs. The Iraqi Middle East Investment Bank, the third largest publicly traded bank in terms of deposits, in particular performed well in the past few years, having been able to attract large sums of quality deposits at very low interest rates. In 2012, Iraqi Middle East Investment Bank had the highest return-on-equity and the highest operating profits growth among the large Iraqi banks. Since 2009, the bank has grown profit before taxes by 330 per cent, a CAGR of 63 percent. According to the report, the growth in Iraq’s banking sector earnings and GDP – which IEA forecasts will grow 151 per cent between 2011 and 2020 driven by the country’s increasing oil revenues, go hand-in-hand with the improving security situation in the country. As violence declined by over 80 percent between 2006-2012, Iraqis in many parts of the country enjoyed relative calm and stability. However, despite the impressive growth, Iraqi private banks will have to overcome some important challenges if they are to continue their growth at the excellent pace witnessed over the last five years. Accessibility is among the biggest challenges facing the country’s banking industry. Access to bank branches or ATM machines remains highly limited to the general Iraqi population. There are approximately 900 bank branches covering a population of 33 million Iraqis equating to just one branch serving 36,000 individuals. Other challenges include an uneven playing field enjoyed by the state-owned banks and a general mistrust of the banking system. This problem is further exasperated by the lack of any deposit insurance institutions that would guarantee customers their deposits back in the event of a bank failure. The report also raises some concerns regarding corporate governance and transparency at some banks. In the example of North Bank, the report highlights how audit and financial concerns raised by the accountants in the Arabic reports were missing from the English translated reports provided by the bank. “Iraq’s banking sector, though certainly on the growth path, is not without its share of challenges. However, what is important to note is that all the challenges and hurdles can be overcome, especially with the combined efforts of the government and private sector," said Sanjay Motwani, President of Sansar Capital. "In particular, we believe that the private sector can help improve accessibility to branch networks and services while the government can help level the playing field between the state-owned and private sector banks. Of course, gaining the trust of the population would require efforts from both sides," Motwani added. The report pointed out that Iraqi banks generate large sums of their revenue and profits from trade-financing related activities. For the year 2011, commissions driven by trade-financing related activities (wire transfers, letters of credit, FX spreads) accounted for a range of 28 percent to 83 percent of net revenues for the four largest ‘traditional’ banks. Traditional lending activities such as net interest income on loans became the second largest contributor of revenue with the four largest banks by deposits generating 13 per cent to 49 percent of net revenues from these activities. – SG

Just how long are they planning to "seek to implement"?? And I think their definition of "urgent" might be different from our definition of "urgent". Maybe they should spend less time talking about what they want to do and instead....JUST DO IT!!

Funny stuff!! lol.

AWESOME article!!!

Well, I had a dream about Maliki one night, lol. Iraq is on my mind way too much right now! Ok...I am off to bed!

How did you know that I need to go to bed? LOL. I am crashing any minute now...I can barely hold my eyes open!! I am just so addicted to this site and the news and just so anxious to see a change in rate.

Iraqi clerics promote unity during Ramadan2013-07-08 Iraqi Sunni and Shia clerics signed an agreement Monday (July 8th) pledging to adopt moderate discourse renouncing violence and terrorism during Ramadan, which begins this week. The agreement focuses on shared values among Muslim sects and the importance of national unity, said Sheikh Khaled al-Mulla, head of the Iraqi cabinet's scholars committee. Many clerics and groups representing Sunnis and Shias attended the Basra meeting, he said, adding that religious events and occasions during the holy month will affirm moderate discourse.

Wyndham opens first hotel in Iraq Published: 08/07/2013 - Filed under: News » Wyndham Hotel Group has opened two Ramada hotels in the Middle East on the same day, including its first property in Iraq. The newly-built Ramada Sulaymaniyah Salim Street in Kurdistan, which has 71 rooms, including 13 suites, welcomed its first guests today. Ramada Plaza Beirut Raouche in Lebanon also opened today. Ramada Sulaymaniyah Salim Street features a 728 sqm theatre-style ballroom that can cater for up to 700 people, the Panorama A La Carte Restaurant on the top floor, the Boulevard Café and Aquarium Lobby Bar. The hotel also includes a spa, a 144 sqm indoor swimming pool, a Turkish bath, saunas and a whirlpool. The 119-room Ramada Plaza Beirut Raouche overlooks the Mediterranean Sea and features a 391 sqm ballroom, a swimming pool, a fitness club and a restaurant on the 18th floor. Rui Barros, Wyndham's senior vice president and managing director of Europe, Middle East and Africa, said: "We look forward to offering business and leisure travellers in the market a new hotel experience, not to mention all of the benefits of the world's largest hotel loyalty programme." In May, Wyndham announced plans to open its first hotel in Saudi Arabia, the 56-room Days Hotel Olaya in Riyadh (see online news, May 11).

JPMorgan to Expand in Iraq July 08, 2013 In an attempt to capture the global market, JPMorgan Chase & Co. plans to expand its business in Iraq – OPEC’s (Organization of the Petroleum Exporting Countries) second largest country after Saudi Arabia. JPMorgan entered into a one-year definitive agreement with Trade Bank of Iraq to finance the latter’s import of goods and services. With this, JPMorgan would be in a position to assist Trade Bank of Iraq in opening more letters of credit in the country. Previously, JPMorgan had helped the bank to aid imports required for the country’s post-war restructuring. Iraq is the world’s fifth-largest proven oil reserve. Nevertheless, after being battered by crippling wars and neglect for decades, Iraq gradually initiated the process of improving its infrastructure and energy industry. As per Bloomberg, Iraq produced nearly 3.2 million barrels a day of crude oil in Jun 2013 and has further targeted to produce over 3.5 million barrels a day by the end of 2013. Moreover, the government has increased its spending by 18% to $118 billion in 2013. Additionally, according to International Monetary Fund (IMF), the annual economic growth rate of Iraq is expected to be 9%. Moreover, the increase in Iraq’s oil exports and a fall in the prime lending rate from 17% to 6% are a major boost to its expansion plans. Previously, till 2003, foreign banks were prohibited from trading in Iraq. However, following the expulsion of the Saddam Hussein government in 2003, international banks were permitted to operate in Iraq. As per the central bank’s website, currently, 15 international banks have their operations in Iraq, which includes majors like Citigroup, Inc. and HSBC Holdings plc. Citigroup plans to benefit from the $1 trillion estimated infrastructure spending by the government of Iraq by opening representative offices and branches in Baghdad as well as in the cities of Basra and Erbil. Citigroup also plans to finance a pipeline to export Iraqi oil and natural gas through Jordan. Alongside, Standard Chartered is planning to expand its transaction banking business in Iraq by opening branches in Baghdad and Erbil in 2013 and Basra in 2014. JPMorgan currently carries a Zacks Rank #2 (Buy).

Another good article....I just hope we start to see some action soon.

I can't wait! So ready for it to happen! I don't understand how anyone can think it's a scam. Thanks for sharing.

Great article! Thanks Yota. Maybe this is the prefect timing for everything to happen. If it wasn't Ramadan right now, they would probably continue to argue, but because Ramadan has started, they will hopefully be able to put differences aside & peacefully work things out.

It still wouldn't convince me to go vacation there, lol. But yes, all of this is great news!!

Thanks! It sounds good to me! It just shows that a lot of businesses are expecting to profit off of Iraq!

There will always be negative articles, but I feel I have enough information to feel confident in the belief that the RV will happen. There are a lot of very smart and well-educated people on this forum....we wouldn't all be here unless we all felt very strongly that this is a good investment. Go RV!!

AWESOME Find gamaray!!! Ok...now a little less talk and a lot more action! Let's get this done!!

Here's another one.... Iraq wants India's speedy participation in its hydrocarbons sector India,Business/Economy,Diplomacy, Mon, 08 Jul 2013IANS New Delhi, July 8 (IANS) Iraq wants Indian participation in the development of its oil and gas, petrochemicals and fertilizer sectors, Prime Minister Nouri Al-Maliki has told Petroleum Minister M. Veerappa Moily. Moily, leading a 28-member delegation to the 17th session of the India-Iraq Joint Commission on Economic and Technical Cooperation, met Al-Maliki shortly after he arrived in Baghdad Saturday. He informed Al-Maliki that Indian companies have the expertise to participate in many projects which were coming up in Iraq and India will also be interested in gas-based projects and importing liquefied natural gas (LNG) from Iraq, said an oil ministry statement here Monday. Iraq in recent months has replaced sanctions-hit Iran as India's second-largest crude oil supplier after Saudi Arabia. Iraq, which produces 3.15 million barrels of crude a day and plans to double output by 2020, has promised to meet India's additional energy requirements with the increase in its production. Indian refineries purchased nearly 20 percent of Iraq's crude oil production during 2012-13. During External Affairs Minister Salman Khurshid's recent visit to Iraq, it was decided that the hydrocarbons buyer-seller relationship would graduate into a strategic partnership, through joint ventures, partnership in strategic reserves storage facility and investments in new and existing refineries and fertiliser plants. In separate talks with Deputy Prime Minister Saleh al-Mutlaq, Moily offered to train Iraqi personnel in the oil and gas sector at training institutes in India. Indian Oil Corp has been training Iraqi oil officials in downstream refining and marketing. Reliance Industries has been shortlisted for development of the multi-billion-dollar Nasiriya oilfield project in Iraq. The India-Iraq Joint Commission deals, among others, with energy, agriculture, low-cost housing, higher education and tourism. The last meeting of the Joint Commission was held in 2007. When Moily reiterated Prime Minister Manmohan Singh's invitation to the Iraqi Prime Minister to visit New Delhi, Al-Maliki said he was planning the visit coming September, the statement added. http://www.newstrackindia.com/newsdetails/2013/07/08/249--Iraq-wants-India-s-speedy-participation-in-its-hydrocarbons-sector-.html

Wyndham Takes Chance on Iraq By Francys Vallecillo | July 8, 2013 11:16 AM ETWyndham Hotel Group has announced its entry into Iraq with the opening of the Ramada Sulaymaniyah Salim Street in Kurdistan. The hotel features 58 rooms, 13 suites, 728-square-meter theater-style ballroom, a 144-square-meter indoor pool, a Turkish bath, saunas and a whirlpool. "Wyndham Hotel Group constantly evaluates opportunities to enter new markets and bring our renowned brands and best-in-class service to new destinations," Rui Barros, Wyndham Hotel Group's senior vice president of EMEA said in a release. "We look forward to offering business and leisure travelers in the market a new hotel experience." Although Iraq continues to suffer through spurts of violence, the northern Kurdistan region is increasing in popularity as a tourism location. Erbil was named the Arab Council of Tourism's 2014 tourism capital, according to Time magazine. "We have an ambition to be an international, worldwide destination by 2015," Mawlawi Jabar Wahab, head of Kurdistan's general board of tourism told Time magazine. "We never thought our ambitions could be so big." Last year, Starwood Hotels and Resorts Worldwide announced it was re-entering Iraq after 20 years with the Sheraton Erbil Hotel scheduled to open in 2015. "The opening of the new Sheraton Erbil Hotel further underlines Starwood's commitment to growth and expansion in the region." Roeland Vos, president, Starwood Hotels & Resorts, EMEA said in a release. The Wyndham Hotel Group continues to expand in the Middle East region. On the same day it opened the Kurdistan hotel, the group opened the 144-room, 18-story Ramada Plaza Beirut Raouche. It also announced plans to introduce the Super 8 brand to Saudi Arabia, without specifying when.

India expresses interest in building refineries in Iraq Story Dated: Monday, July 8, 2013 17:7 hrs IST New Delhi: India has evinced interest in building refineries and petrochemical plants in Iraq and is keen to source liquefied natural gas (LNG) from its second largest oil supplier. Oil Minister M Veerappa Moily, who is leading a 28-member delegation to participate in the 17th India-Iraq Joint Commission meeting in Baghdad, expressed interest in setting up gas-based projects including, fertiliser plants in the post-war Iraq. Moily on his arrival in in Baghdad on July 6 called on Iraqi Prime Minister Nouri Al-Maliki and reiterated to him the invitation of Prime Minister Manmohan Singh to visit New Delhi, an official statement issued here said. "The Iraqi Prime Minister expressed that he was planning the visit to New Delhi in September, 2013," it said. Stating that Iraq was India's second largest oil supplier after Saudi Arabia, Moily emphasised the need for deepening the relationship between the two countries by increasing economic cooperation. Indian firms, he said, had the expertise and are willing to participate in building oil refineries, petrochemicals plants and fertiliser units in Iraq. "India will also be interested in gas based projects and importing LNG from Iraq," the statement quoted him as saying. He also offered to share knowledge and expertise in agriculture, infrastructure technology, and pharmaceuticals. The Iraqi PM said Iraq will have great interest in sectors connected with oil and gas especially petrochemicals, refineries and fertilisers and both countries should start working immediately on cooperation in these sectors. The meeting with Prime Minister was followed by discussions with Deputy Prime Minister Dr Saleh al-Mutlaq, who also hosted a lunch in the honour of the visiting Minister. "In the discussions with Deputy Prime Minister, the delegation members elaborated on the cooperation and possibilities in the oil and gas sector and other sectors such as steel and railways," the statement said. India also offered to train Iraqi personnel in oil and gas sector and offered to exchange ideas and expertise to help make the Gulf nation's state-owned firms more efficient and profitable. Ananth Kumar said the different committees to be formed will take care of the party's election manifesto, parliamentary election meetings, "chargesheet" against UPA, development agenda and other things. He said the Parliamentary Board has authorised party chief Rajnath Singh and poll campaign panel chief Narendra Modi to form these after consultations with senior party leaders. The BJP Parliamentary Board discussed the poll strategy at today's meeting, where it decided that the party will go ahead with good governance and development as its major poll planks. On taking on the Congress in elections, the party decided to attack it on three issues of corruption, economic crisis and price rise, and its failure on all other fronts. Raising a question mark on delay in convening of the Monsoon session of Parliament, normally held in July, the BJP leader alleged that the Congress feared that its much-touted Food Security Bill may not get through in Parliament and thus the need to bring an Ordinance on it. "The Congress and UPA is under pressure. It is breaking, it is running away. It is not in a position to face the nation or Parliament," Kumar alleged. He said the BJP, on the other hand, is aggressively in election mode and will force the UPA to discuss price rise and development in Parliament. "We will place such things before the nation," he said.

I don't know, but I hope it has something to do with the HCL. My interpretation is that Maliki wants to get the HCL passed, so hopefully they can do an RV.

Amen to that!! I agree 100%

Great article! Thanks Rayzur!