Blog posts of '2012' 'July'

Expert: Iraq will be the most developed countries in the global oil economy- Wednesday, July 25, 2012

Expert: Iraq will be the most developed countries in the global oil economy

translated: Stated that alternative energy can not compensate for the needs of the oil during the next fifty years

Said Academy specializes affairs oil that opening up the technological world is witnessing led to be the economics of oil and gas, the cornerstone of the growth processes of producing countries, stressing that this concept is to make the oil markets, the upper hand in the organization of economic policy for the various joints, advanced industrial countries, and while he believes that the stage the current through which Iraq require more strategic planning, stressed the need to find a tool or a driving force for the advancement of economic destruction, saying that oil is the most prominent of those tools and the driving means toward economic transformation towards achieving progress in sustainable development rates in the country.

The head of the IT department of oil in the University of Technology, Dr. Khaled Al Ajami al-Rubaie during his speech for the (morning):

You need the economic boom in the various industrial sectors to finance financial in order to create the infrastructure, where the oil stream President for the construction of many of the vital sectors, so the driving force to achieve those gains are oil class basis, which is the most prominent factors to encourage and move the process of investment in various sectors of business and services and thus achieve an economic renaissance comprehensive in all areas of production.

He said al-Rubaie said the world and the Next Fifty Years will not be able to dispense with the oil and gas as the main reservoirs of energy, He noted that the ratio of these two elements in various areas of the world amounted to more than 63 percent of all the key elements of energy, this means that the oil can not be replaced by any element of another during the time periods ahead, which calls for the exploitation of those for the rehabilitation of all industrial facilities, commercial and agricultural and tourist revenues that come to the country for the sale of petroleum in the world.

Iraq relies by more than in some cases, the proportion of 90 percent on oil imports in the previous Moisnath coverage, and to establish strategic projects task, and to cover operational expenses of the general government sector.

And warns the concerned of the dangers of this matter on the economic reality in general, and stress from time to time the need to find outlets other investment of non-oil, and increase production rates, and reduce the imports of industrial lead to the migration of big money abroad, stressing at the same time the importance of rehabilitation of public industrial, agricultural, and to the extent that they can Aanaachehema of production and competition and thereby enhancing the financial resources of the country and reduce the near total dependence on oil.

According to al-Rubaie that despite the great interest which the world is witnessing the subject of alternative and renewable energy, but it can not compensate for the demand for oil and gas in the global markets in the coming years, likely to increase rates of demand gradually over the next few years until you reach the highest ratios in 2020, warned at the At the same time the possibility of being affected by oil prices, many of the factors that lead the result to lower prices in world markets, especially the wars and the political situation volatile faced by countries of the year and in particular OPEC (oil producing countries), as well as pressure on those countries which usually hinder the plans and the specific production ceilings and built on a broad base of considerations.

However, al-Rubaie said that among the factors affecting the price of world oil is the financial and economic crises experienced by the world, as happened in 2009, and price fluctuations in the seasons of summer and winter, and increase the number of factories, the giant in the developed countries, as well as environmental factors and natural disasters that control is other world oil prices.

Is based on spring to a number of studies and research in his assertion that Iraq will stand at the forefront of countries with economies in an oil firm in the coming years, so having many of the qualifications the task that stands in the forefront of oil reserves and high potential physical, human and openness to the world, pointing out that all those combined features will play a vital role in Iraq to stop at the forefront of countries that have oil sobering economy in the region.

Explains Rubaie said oil licensing rounds, the four witnessed by the Iraqi oil sector is a sign of progress confident towards creating economy oil is strong, and the formation of science policy tries to Iraq crystallized in its strategy in the medium and long term, stressing that these tours will be reflected positively on the economic reality in its entirety for all provinces Iraq, praising the timeshare itself, including its oil ministry’s efforts said it was excellent in increasing the volume of oil investments, calling on them not to stop at a certain level to raise production but also to contribute in bringing about economic integration in the areas of refining and the provision of derivatives and exported in the construction of petrochemical industry that require more effort and hard work.

Economic Committee Member: Iraq accession to WTO is important; Iraq will join soon- Monday, July 23, 2012

Economic Committee Member: Iraq accession to WTO is important; Iraq will join soon

Erbil / range
MP for the National Alliance, Abdul-Hadi al-Hakim that the date for changing the currency has not announced by the Central Bank of Iraq to be exact, but it may take some time until it is no small.

The MP added Abdul-Hadi al-Hakim, Vice Chairman of the Parliamentary Commission on Higher Education during a meeting with PUKmedia:

Already announced the Central Bank set of images for the purpose of and put it on the new currency refers to a number of monuments of Iraq, some important and some are repeated and some are of little importance, therefore, presented to the bank group of the symbols of Iraq’s cultural, historical, I think it is more important than chosen by the Iraqi Central Bank.

and about putting pictures the parameters of the Kurdistan region to the new currency said Rep. Wise: Yes, certainly will be more than a symbol of the Kurdistan region on the face of new Iraqi currency, noting that the central bank is not obliged to display images selected by the members of the House of Representatives for a vote and the right choice according to the conviction of its experts.

Emir of Kuwait is keen on the stability of Iraq- Friday, July 20, 2012

Emir of Kuwait is keen on the stability of Iraq

BAGHDAD - (translated) Morning confirmed the Emir of Kuwait Sabah Al-Ahmad Al-Jaber Al-Sabah during a meeting with Transport Minister Hadi al-Amiri keenness of his country's security and stability of Iraq. reported official KUNA news agency that the Emir of Kuwait, received at Bayan Palace yesterday and Transport Minister Hadi al-Amiri and his entourage. "and stressed Kuwait's Emir the need to strengthen the common interests between the two countries and promote the form in which the benefit of the two countries, noting that Kuwait is interested in Iraq's stability and security. witnessing Iraqi-Kuwaiti relations are positive developments as it announced Kuwaiti Ambassador in Iraq to the insured in the April 30, 2012 that his country will open soon consulates in the cities of Erbil and Basra as well as the offices of the embassy in the number of Iraqi provinces, and confirmed that the Kuwaiti side touching seriousness of the Iraqi government to close the outstanding issues between the two countries since the nineties of the last century. stressed morning, according to the agency, his country's keenness to resolve all outstanding issues in the interest of the two countries, As the two historical relations and strong. As a result of the improvement in relations agreed Kuwait with Iraq to shed compensations for Kuwait Airways that is created Airlines joint worth the amount of compensation, which amounted to about $ 300 million, also re-Kuwait flights to Iraq, where landed in Najaf airport on April 17 last year, the first Kuwaiti plane after 22 years on the last trip to Iraq, while confirming the company (airline) it will twice weekly to the airport can be increased, as well as other trips to the rest of the airports in the country, as Minister of Public Works Minister of Planning and Development Minister Kuwaiti Dr Fadhel Safar recently, dispensing the fourth phase of the port of Mubarak the Great, which was expected to reach the number of berths to 60 Marina, and only only three phases the first to reach the number of berths to 24 Marsa only, pursuant to the agreement recently between the two governments Kuwaiti and Iraqi. has also led the visit of Prime Minister Nuri al-Maliki to Kuwait on March 14 last year to the parties' agreement on the maintenance of border markers, and lay the foundations and frameworks common resolve all files, timetables short, while Foreign Minister Hoshyar Zebari, who accompanied Maliki on the trip to what has been agreed upon is significant progress in relation to the exit of Iraq from Chapter VII.

Finance Committee: Delete the zeros of the local currency begins early next year- Friday, July 13, 2012

Finance Committee: Delete the zeros of the local currency begins early next year

Diyala July 14 (AKnews) - Translated:  The parliamentary Finance Committee, Saturday, that the process of replacing the currency and delete the zeros of which will be gradually beginning of next year, noting that the process takes two to three. said committee member and MP for the Iraqi List, Hassan Auzmn told Kurdistan News (Rn) that the CBI will withdraw the existing currency early next year gradually and keep trading currency current grant citizens enough time to replace the currency. " He Auzmn replace the currency and delete the zeros experience successful and useful for the Iraqi economy through their success in a number of other countries, pointing out that "The operation will contribute to ease carrying banknotes among citizens and will not have any negative impact on the Iraqi economy (according to him). has not ruled out Auzmn attempts forging new currency afterthought: the security measures to be taken to protect the currency will mark easily between the old currency and the new currency. announced the Finance Committee Parliamentary early July of this that the budget next year 2013 will be the new currency after deleting three zeros from the current currency, saying that the reluctance of traders and companies from trading in Iraqi currency behind the adoption of the Central Bank project to delete zeros. Some economists that Iraq is not formatted for the time being to delete the zeros of Iraqi dinar, pointing out that the deletion needs to security and political stability as well as economic stability. : Mahmoud al-Jubouri, the Open: Peace Baghdadi


Government wants CBI to carefully delete zeros and reveal the financial details of the project- Saturday, June 30, 2012

Government wants CBI to carefully delete zeros and reveal the financial details of the project

translated:   Revealed the House Financial Committee, Sunday, prompting Prime Minister Nouri al-Maliki for the Central Bank to wait to delete the zeros of the Iraqi currency, noting the presence of several foreign companies vying for printing the new currency.

Member of the parliamentary Finance Committee for “Haitham al-Jabburi,twilight news,” Prime Minister Nuri al-Maliki asked the Central Bank to wait to delete the zeros of the Iraqi currency.

“The Finance Committee met Wednesday with the Deputy Governor of the Central Bank and was discussing the deletion of zeros and print new currency”.

“We’re afraid that in the process of delivering the money to the banks for the purpose of manipulation and blackmail citizens but time is exceeded, this case after the approval of the Central Bank to be there 10 years forward allowed the old Iraqi currency delivered.”

The “new currency contains 36 cases of fraud while ensuring that current currency contains 8 just so it is expected that the new currency forgery difficult.”

He said the new currency would consist of categories of paper and metal paper ones are groups of 200 dinars, equivalent to 200,000 dinars a $ 180, 100, 50 and 25 dinar JD either metal is half dinar JD and a quarter and 100 Fils and 50 Fils, 25 Fils is the smallest coin equal to 250 dinars “.

“Been subject to national symbols such as Helicobacter and civilization of ur and the castle of Arbil and waterfall geli and Mosul Dam”.

He noted that “there are offers of mnsharkat Swiss and Russian and Brazilian compete in terms of price and quality for printing the new currency would be subject to discussion, presentations by competent Central Bank to determine who qualified for printed money.”

The CBI had earlier described, delete zeros from the currency project as “a new infrastructure of the country is no less important than other infrastructure.”

The Deputy Governor of the Bank, said Mohammad Saleh appearance that the project reflects the harmony of speed angashza ministries and competent State departments away from institutional work, ‘ isolationist value for the independence of the Central Bank if the independence high coordination with other economic institutions to build Iraq. “