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17% share of the Kurdistan region .. 73 dinars trillion federal budget for 2009
بغداد/ المدى
Baghdad / term
أعلن الناطق الرسمي بإسم الحكومة علي الدباغ عن حصول موافقة مجلس الوزراء على تعديل مشروع قانون الموازنة العامة الإتحادية لسنة 2009 بعد إجراء التعديلات، مؤكدا ان أجمالي الموازنة المالية للعام الحالي بلغت 72,9 تريليون دينار.
The government spokesman Ali al-Dabbagh on the Council of Ministers for approval to amend the budget bill for the federal public after the 2009 amendments, stressing that the total financial budget for the current year amounted to 72.9 trillion dinars.
جاء ذلك في بيان صادر عن رئاسة مجلس الوزراء تلقت (المدى) نسخة منه امس الاثنين.
This came in a statement issued by the prime minister received a (term) a copy of which was Monday.
وقال الدباغ ان إيرادات الموازنة العامة الإتحادية للسنة المالية 2009 تقدر بمبلغ 50,4 تريليون دينار بعجز كلي مقداره 22,5 تريليون دينار ويتم تغطية العجز من المبالغ النقدية المدورة من موازنة سنة 2008.
Dabbagh said that the federal budget revenues for the fiscal year 2009 is estimated at $ 50.4 trillion dinars deficit of $ 22,5 trillion total dinars are to cover the deficit of the cash balance of the round in 2008.
واضاف الدباغ ان إيرادات النفط الخام المصدر تقدر بـ 43 تريليونا فيما تقدر الإيرادات الأخرى بسبعة تريليونات دينار وقد تم إعتماد سعر 50 دولارا للبرميل كسعر بيع للنفط الخام ومعدل تصدير يومي بلغ مليوني برميل حيث تشكل نسبة الإيرادات النفطية من إجمالي الإيرادات 86% تقريباً بينما تشكل الإيرادات الأخرى نسبة 14% تقريباً.
He said al-Dabbagh said the source of crude oil revenues estimated at 43 trillion in other income is estimated at seven trillion dinars have been adopted in the price of 50 dollars per barrel price for crude oil sales and the rate of export of two million barrels daily average of where the proportion of oil revenues of the total income almost 86% while other income the proportion of approximately 14%.
واشار الى ان الموازنة العامة تتوزع الى نفقات إستثمارية بقيمة 14 تريليون دينار تقريباً والتي تشكل نسبة 20% من إجمالي الموازنة وتتوزع على 7,7 تريليونات دينار على المشاريع الإستثمارية للوزارات مع إقليم كردستان، فيما تبلغ المشاريع الإستثمارية لتنمية الأقاليم وإعمار المحافظات 2,8 تريليون دينار والمشاريع النفطية 2,6 تريليون دينار ومشاريع الكهرباء 1,27 تريليون دينار وكذلك نفقات تشغيلية بقيمة 58 تريليون دينار تقريباً والتي تشكل نسبة 80% من إجمالي الموازنة تبلغ الرواتب والأجور فيها 21 تريليون دينار تقريباً.
He pointed out that the general budget is distributed to the value of investment expenditure almost 14 trillion dinars, which accounted for 20% of the total budget and is distributed in 7,7 trillion dinars on the investment projects of the ministries with the Kurdistan region, while the investment projects for the development of the regions and governorates, the reconstruction of 2,8 trillion dinars The oil projects 2,6 trillion dinars and electricity projects 1.27 trillion dinars, as well as operating expenses worth almost 58 trillion dinars, which accounted for 80% of the total budget amount of salaries and wages are nearly 21 trillion dinars.
مبينا ان حصة إقليم كردستان تبلغ مانسبته 17% من الموازنة بعد إستبعاد النفقات السيادية، حيث تبلغ هذه الحصة 7,1 تريليونات دينار يتم صرفها بالتشاور والتنسيق بين الحكومة الإتحادية وحكومة إقليم كردستان.
Indicating that the share of the Kurdistan region amounting to a total of 17% of the budget, excluding the costs of sovereignty, with $ 7.1 trillion dinars, the share will be spent in consultation and coordination between the Federal Government and the Kurdistan Regional Government.
واكد الدباغ انه تم إعتماد مبلغ 4,2 تريليونات دينار للبطاقة التموينية لجميع أنحاء العراق ومبلغ 1,25 تريليون دينار لإستيراد أدوية من ضمن الموازنة العامة الإتحادية ومبلغ 36 مليار دينار لهيئة الحج وتعويضات ومبلغ 2,15 تريليون دينار لحرب الكويت.
Dabbagh said that the appropriation of $ 4,2 trillion dinars ration card to all parts of Iraq and the amount of 1,25 trillion dinars for importing medicines from within the federal public budget and the amount of 36 billion dinars for the Hajj and compensation and the amount of 2,15 trillion dinars to war to liberate Kuwait.
http://74.125.77.100/translate_c?hl=...n3iGT2jbxkn_jQ
Iraqi government is demanding the lifting of the urban Iraqi funds frozen
--------------------------------------------------------------------------------
INA / Kut / Sun. B 2009/1/26 3:13 pm ....
Head of Chambers of Commerce Ali Hussein Jassem Al Kut The Iraqi government To get out of the freezing of funds of the Iraqi Federation of Chambers of Commerce to enable the Union to the scientific and operational duties in the rebuilding of Iraq. Jassem said the reporter (and the Iraqi News Agency Information / INA) that the Iraqi government since 2003 to freeze the funds stature of Chambers of Commerce, since the fall of the former regime the pretext of external debt on the Union of Iraqi Chambers of Commerce and non-civil union for the management of these funds.
The other hand, the President of Chambers of Commerce Babel Faihan morning in the next few days That the chamber will start a five-star hotel built in accordance with international standards The Babylonian-style, adding that the hotel will consist of ten e-storey first stage It contains Swimming pool outside and the Corniche, parks and entertainment businesses.
http://74.125.95.113/translate_c?hl=...fa9APcBdxAZWow
Finance Minister directed the staff of the ministry to open personal accounts in the banks,
26/1/2009 - 12:34 26/1/2009 - 12:34
. Baghdad / Voices of Iraq: the Iraqi Finance Minister Bayan Jabr staff of the Center for the ministry to open personal accounts in the banks, to deposit their salaries into their accounts, the ministry said in a statement Monday.
”. The statement received by the agency (Voices of Iraq) a copy of "The Minister of Finance, all the staff of the Center of the Ministry of Finance to open personal accounts to deposit their salaries into their accounts as of next month and have this experience at all departments of the Ministry of Finance and all ministries and government departments."
له”. The statement did not say when al-Zubeidi in the opening of accounts; but he said that "this initiative is to create awareness among the citizens and the bank to take advantage of the services provided by banks through the provision of funds obtained by the employee during the recent increases for the purpose of deposit in the bank, which will benefit," he said.
http://74.125.93.104/translate_c?hl=...cDN53nFxXXA_9w
BWNR,SYMW quinella 4 today
BWNR,SYMW quinella 4 today
BWNR go time? waves a comin braaaaaa
BWNR volume starting
BWNR radar engaged---hoid sum tingzz
yeah with the buying power of 5 Dinars...lol How is that neutral?
Not I myself, nor you can say anything because nothing has happened. Every day that they progress with their agenda it looks more and more like a revalue. Lopping, unless it would only effect speculation, would appear to be just suicide. Why would they rip off their own people with money in the bank? Can you imagine the drama? Rip us off, maybe. Just food for thought. Who knows? Certainly not you or I...glty
ok, let me make a prediction...the world will not end today. lol tomorrow I will gloat about my genius.
Why? whats come true so far that you predicted?
TNRI 71,000,000 served wow
ANVH recovering off v bottom
TNRI +100% KAWABUNGA
promo guys got blindsided by too many shares--awfull
TNRI BOOOOOMAGE HERE
TNRI SURFSSSS UPPPPPPP
TNRI makin waves braaa
TNRI GETTIN JIGGY NOW
ANVH volume and upt'g
ANVH news
TNRI all over it braaa---gonna rock imo
You must be right....I'm selling it all...goodbye cruel worlddddddddddddddddddd....lol
What happened to yer lop bra?
Wow, brilliant 20-20 hindsight vision Aero...We're proud of you..Maybe Iraqis make you Secretary of the Exterior or something...lol
Same 2 u
lol...some people just can't admit losing...tisk tisk..What does the date of the article have to do with anything? and your weak attempt to discredit based on when the NID came out? Doesn't matter...theres a connection and I merely asked why? I'm jumping through hoops to prove to YOU the existance of a connection? move on man...take off the blinderz
And how is it off topic if the very currency you post on every day was printed by the company in question?
appology gracefully accepted.....
ok, I'll hold yer hand.....lookie lookie
http://www.carlylegroup.net/
Missing The Oil Story
by Nina Burleigh
Recently I attended one of those legendary Washington dinner parties, attended by British cosmopolites and Americans in the know. A few courses in, people were gossiping about the Bush family's close and enduring friendship with the Saudi ambassador, Prince Bandar, dean of the diplomatic corps in Washington. By the end of the evening, everyone was talking about how the unfolding events were going to affect the flow of oil out of Central Asia.
I left wondering whether 6,000 Americans might prove to have died in New York for the royal family of Saud, or oil, or both. But I didn't have much more than insider dinner gossip to go on. I get my analysis from the standard all-American news outlets. And they've been too focused on a) anthrax and smallpox, or b) the intricacies of Muslim fanaticism, to throw any reporters at the murky ways in which international oil politics and its big players have a stake in what's unfolding.
A quick Nexis search brought up a raft of interesting leads that would keep me busy for 10 years if the economics of this war was my beat. But only two articles in the American media since September 11 have tried to describe how Big Oil might benefit from a cleanup of terrorists and other anti-American elements in the Central Asia region. One was by James Ridgeway of the Village Voice. The other was by a Hearst writer based in Paris and it was picked up only in the San Francisco Chronicle.
In other words, only the Left is connecting the dots of what the Russians have called "The Great Game" -- how oil underneath the 'stans' fits into the new world order. Here's just a small slice of what ought to provoke deeper research by American reporters with resources and talent.
Start with father Bush. The former president and ex-CIA director is not unemployed these days. He's been globetrotting as a member of Washington's Carlyle Group, a $12 billion private equity firm which employs a motorcade of former ranking Republicans, including Frank Carlucci, Jim Baker and Richard Darman. George Bush senior and colleagues open doors overseas for The Carlyle Group's "access capitalists."
Bush specializes in Asia and has been in and out of Saudi Arabia and Kuwait (countries that revere him thanks to the Gulf War) often on business since his presidency. Baker, the pin-striped midwife of 'Election 2000' was working his network in the 'stans' before the ink was dry on Clinton's first inaugural address. The Bin Laden family (presumably the friendly wing) is also invested in Carlyle. Carlyle's portfolio is heavy in defense and telecommunications firms, although it has other holdings including food and bottling companies.
The Carlyle connection means that George Bush Senior is on the payroll from private interests that have defense business before the government, while his son is president. Hmmm. As Charles Lewis of the Washington-based Center for Public Integrity has put it, "in a really peculiar way, George W. Bush could, some day, benefit financially from his own administration's decisions, through his father's investments. And that to me is a jaw-dropper."
Why can we assume that global businessmen like Bush Senior and Jim Baker care about who runs Afghanistan and NOT just because it's home base for lethal anti-Americans? Because it also happens to be situated in the middle of that perennial vital national interest -- a region with abundant oil. By 2050, Central Asia will account for more than 80 percent of our oil. On September 10, an industry publication, Oil and Gas Journal, reported that Central Asia represents one of the world's last great frontiers for geological survey and analysis, "offering opportunities for investment in the discovery, production, transportation, and refining of enormous quantities of oil and gas resources."
It's assumed we need unimpeded access in the 'stans' for our geologists, construction workers and pipelines if we are going to realize the conservation-free, fossil-fueled future outlined recently by Vice President Cheney. A number of pipeline projects to carry Central Asia's resources west are already under way or have been proposed. They would go through Russia, through the Caucasus or via Turkey and Iran. Each route will be within easy reach of the Taliban's thugs and could be made much safer by an American vanquishment of Muslim terrorism.
There's also lots of oil beneath the turf of our politically precarious newest best friend, Pakistan. "Massive untapped gas reserves are believed to be lying beneath Pakistan's remotest deserts, but they are being held hostage by armed tribal groups demanding a better deal from the central government," reported Agence France Presse just days before September 11.
So many business deals, so much oil, all those big players with powerful connections to the Bush administration. It doesn't add up to a conspiracy theory. But it does mean there is a significant MONEY subtext that the American public ought to know about as "Operation Enduring Freedom" blasts new holes where pipelines might someday be buried.
Nina Burleigh has written for The Washington Post, The Chicago Tribune, and New York magazine. As a reporter for TIME, she was among the first American journalists to enter Iraq after the Gulf War.
Source:
http://www.tompaine.com/news/
2001/10/11/index.html
De La Rue Plc (“De La Rue” Or The “Group”) Proposed Disposal Of Cash Systems
16 June 2008
De La Rue today announces that it has entered into a conditional agreement for the sale of its Cash Systems business (excluding those activities relating to banknote sorters, the Cash Processing Solutions Division (“CPS”)) to The Carlyle Group for a cash consideration of £360 million on a cash and debt free basis, subject to adjustment for a normalised level of working capital. The Disposal, which is conditional on, amongst other things, the approval of De La Rue’s shareholders and the receipt of certain regulatory approvals, is expected to complete before the end of September 2008.
Following completion of the Disposal, it is intended to return approximately £460 million of capital to shareholders, equivalent to 305 pence per share. This total includes the £160 million return of capital previously announced with the preliminary results on 22 May 2008, which will now be returned as part of the return of capital and not via a special dividend.
De La Rue Chairman, Nicholas Brookes, said: “This announcement completes an important step in implementing the strategic review we initiated last November.
“The disposal of Cash Systems, in the more uncertain economic environment, reflects the quality of the business that we have built since 2004 and crystallises its value for our shareholders. We wish the business well under its new ownership.
“Going forward, the Group has a high quality business in Security Paper and Print, capable of providing Governments, Banks and international corporations with the highest levels of customer service to sustain strong growth in shareholder value.”
Following completion of the Disposal, De La Rue intends to build on its position as a world leading manufacturer and supplier of banknote printing and banknote paper and to become the premier supplier to Central Banks, Governments and international corporations globally of security features and authentication systems and products used in payment and identity transactions.
http://www.delarue.com/Display.aspx?MasterId=04be6d73-9937-435f-808c-8b8b71b95d54&NavigationId=629
Beneficiaries of the social welfare system to increase their salaries and demanding the inclusion of financial advances
2009-01-18 09:16:03 2009-01-18 09:16:03
BAGHDAD (EYBENS) / .. report called on beneficiaries of social welfare system, the presidency of the Council of Ministers to increase salaries and bringing them Mahddop advances along the lines of interest to retirees and beneficiaries of social protection network.
They told in the words of the independent press (EYBENS) said Sunday that a total of between 150 Maitkadoh _ 240 thousand dinars for three months in contrast to Mauadt by the Ministry of Labor and Social Affairs to improve their living last year. . Calling for a review of salaries and the lifting of the family, according to the number of the person and the beneficiary is to identify the points on which the salary increase.
. On the other, "said Essam Abdel-Latif, the Director-General of the Social Welfare Department," the department relies on the Council of Ministers to increase the salaries of the beneficiaries through the addition of financial allocations to the Ministry's budget and thus to the budget department. Referring to the continued acceptance of applications in the salary of those who wish Bhmolhm care.
. Hussein Karim / 59, / disabled Vezioya "We heard two years ago, the desire of the Government to increase the salaries of the beneficiaries of the Welfare Act, but we have not seen anything applied on the ground confirms the desire of those responsible, in spite of many appeals filed by many of the disabled in this regard .
. He added that the salary I make every three months of 180 thousand dinars, enough for me and my family for one month only, say one month after the reduction of requirements for the family. مطالبا باعادة النظر بالراتب ورفعه ال . Calling for a review of salary and raised the number of beds, according to the person and identify the beneficiary Kalmtbap points in the granting of employee salary and be based on the increase.
Abu Ibrahim, and show / 60 years / partially disabled by a car bomb explosion shocked, lamented the lack of follow-up to the seriousness of the ministry this segment is available.
. He says Iraq has witnessed over the past years, many explosions have left many of the wounded who could not resist the damage and wound Asari signed a disability, and I am one of them, and I am still optimistic and live life with dignity, but I complain of administrative red tape and delays in paying salaries to care in a timely manner.
. He can not deny that there are efforts being made by the government side, but I think they need to follow-up, Vuahdna can not wait for a period of three months to receive the salary to a maximum of 240 thousand dinars. . Calling for the distribution of welfare stipend every two months instead of three.
. Abu Ibrahim, and suggested that the Ministry of Labor and develop a plan to provide financial advances for the disabled and covered by the Social Welfare Act.
. The M Suhail / 44, / widow, demanding release of the granting of the predecessor of the beneficiaries of the Social Welfare Act and the simple interest rates to improve their living.
. It says the salary alone is not enough to meet the demands of life, is Maatkadah 150 thousand dinars spent on myself and my children, three who have been left for me after my husband died in a bombing in Baghdad two years ago.
. She added that the financial advances could be paid under the law of care to the opening of the draft which could be developed to improve the living, particularly since the welfare system includes divorcees, the disabled and widows. Appeal to authorities to reconsider and raised the salary in accordance with the number of the person the beneficiary.
. Part of the show (k. GMT) / absolute / that the salary increase has become necessary to meet the requirements of life especially difficult for women who lost their husbands.
،. She has my husband divorced me because I'm not a kid after a marriage of more than 5 years, without pay and social care for I can not Awazn between the requirements of daily life and especially my mother, I was responsible for the great age.
. She expressed surprise that there is no plan to give the predecessor of the beneficiaries of the social welfare system after the government agreed to give them to retirees and employees.
. It said the category of beneficiaries of the system of care for at least the size of the other groups in society are partially disabled and Vezioya and totally disabled, widows and divorcees, all seeking to improve their economic situation. . Calling for increased salaries and advances are covered by the interest rate Mahddop.
. The other hand, Essam Abdel-Latif attributed the Director-General of the Social Welfare Department in the promotion of delay transactions wishing to benefit from the care system to make sure his legal claim of entitlement to the advance and to avoid fraud and manipulation of transactions in order to give everyone his rights, he said.
. He told Al (EYBENS) the Service depends on the Council of Ministers to increase the salaries of the beneficiaries through the addition of financial allocations to the Ministry's budget and thus to the budget department. . He pointed to the continuation of the Service to accept requests for salary wishing Bhmolhm care.
. He said there was no increase in the salaries of social welfare payments for the future where there are no instructions from the financial authorities in this regard.
The Ministry of Labor and Social Affairs has announced more than once wished to increase the salaries of the beneficiaries during the past but without the application of these statements. (End) / 20 /
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The opening of financial market trading contracts and industrial bank
2009-01-20 11:39:30 2009-01-20 11:39:30
اطبع الموضوع Print issue
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BAGHDAD (EYBENS) .. opened the Iraqi market for securities dealings in the meetings on Tuesday, the implementation of two local and foreign.
. A statement of the market has received the Independent Press Agency (EYBENS) a copy of the contract was the first company on the North Bank was a volume of 500 thousand shares, and the second foreign company to paint the modern volume of 787,500 thousand shares.
. The statement added that the share price for the first decade was 2850 dinars while the price for the Second Decade 1900 dinars.
The market held three meetings a week on Sunday, Tuesday and Thursday, and a number of companies registered by the 94 companies. (End) / 20 /
Minister of the Interior in the Kurdistan region: the consolidation of the Ministries of the Interior in the region soon
http://74.125.45.102/translate_c?hl=en&sl=ar&tl=en&u=http://www.nmciraq.com/gnews/2009/1/18_1.htm&usg=ALkJrhh83CJk81DiIypGQaGcBlUpMpqKhQ
1 8 /1/2009the Minister of the Interior (Irbil) in the Kurdistan region, Karim Sinjari, on Sunday, in a statement singled out by the press service of the National Center for Information, said that the Ministries of the Interior will be unified in the near future (without setting a date).. He said, we have decided to consolidate those Aloizrtin in a short period, and will share the post of minister of the Patriotic Union of Kurdistan, which according to the agreement was made between the two main parties in the region.. It is worth noting that after the unification of the Departments of Irbil and Sulaymaniyah, there were three ministries (interior, finance and the Peshmerga) did not unite so far. It is scheduled to witness the ceremony this week, the consolidation of the Ministries of the Interior, announced a senior official in the Kurdistan region.
Study calls for the continuation of the ration cards for the achievement of economic stability
2009-01-19 08:34:13 2009-01-19 08:34:13
اطبع الموضوع Print issue
http://74.125.45.102/translate_c?hl=en&sl=ar&tl=en&u=http://www.ipairaq.com/index.php%3Fname%3Dinner%26t%3Deconomy%26id%3D8379&usg=ALkJrhiivUGNb3rMt7tdinRP9SipccGGaw
BAGHDAD (EYBENS) An economic study called for continued work under the ration card in the short-term economic stability, while achieving the national goal.
. According to one study by researchers at the Ministry of Finance that he can not give up on the ration card at the present time, for reasons related to poor living standards and the high marginal propensity to consume many of the groups of Iraqi society, especially the poor, highlighting the problem of food security as one of the most prominent challenges facing the economies of countries .
. The survey said that the objective of the card and the advancement of the poor coverage of their level of living, so it is necessary to reform the agricultural sector to work to increase agricultural yields in order to minimize the import of the food basket of the food supply in the domestic market.
. And confirmed the need to adopt a proposal to withhold the ration card for high income earners and the private sector to support the many activities sponsored by the State now and the reduction of the role of the state importer and supplier of food commodities.
. They pointed out that the ration card is now in the prior periods during the unstable security situation swag of corruption and smuggling, took advantage of the beneficiaries if the state of instability to smuggle ration card to the neighboring countries.
study concluded the need for concerted efforts to earn a decent living for vulnerable groups of society and support in various forms. (End) / 20 /
INA / Minister of Finance will honor the members of the treasury department of Najaf province
INA / Baghdad / p. E
2009/1/19 11:56am 2009/1/19 11:56 am
. Karam, Minister of Finance Bayan Jabr members of the treasury department of Najaf province, who had to carry out monthly accounts electronically "(smart card) in a timely manner and submitted to the ongoing accounting department with high accuracy. . Zubeidi told the reporter (news agency, Iraqi Information / INA) that all workers in the coffers of the provinces to follow the example of this achievement and to make every effort to complete their accounts electronically, "the time limit and reduce red tape all the episodes for the Advancement of Biamalhm financial and distinctive contribution to the advancement of economic development in the country.
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Iraq recover the loans extended to Senegal
Iraq recover the loans extended to Senegal
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The Senegalese government has agreed to pay the debt owed by Iraq to Senegal, according to the memorandum of understanding signed between the two sides in Amman.
. He said Finance Minister Bayan Jabr told a news briefing on Tuesday that the memo included a rescheduling of amounts due to Iraq and the amount of Senegal (4164) million dollars will pay the first installment of the loans in the first of next March.
. Zubeidi said that this achievement comes in the pursuit of the Ministry of Finance to return Iraqi funds abroad, whether in debt or those smuggled Alambad system.
He explained that the competent departments of the State of Senegal called on to send the claim to pay the loans before fifteen days from the date of maturity.
He pointed out that the staff continued to closely follow the financial Iraqi funds and make utmost efforts to end the file of Iraqi debt.
Central Bankers, Finance Ministers
Discuss Crisis and Crude Oil Slump
(Reuters)
15 January 2009
KUWAIT CITY — Arab central bankers and finance ministers gathered in Kuwait on Wednesday to discuss ways of coping with a global financial crisis and the collapse in oil prices as they kick off a week-long economic summit.
“(The meeting) is about finding ways to stop the fallout of the crisis,” Kuwait Finance Minister Mustapha Al Shamali said in an opening address to attendees of the 22-member Arab League, which includes major oil exporter Saudi Arabia. “We are required to search appropriate tools to stop the impact (of the crisis) on economic development in Arab countries and to realise the continuation of economic growth at an appropriate pace.”
Oil prices have slumped to below $40 a barrel, virtually a quarter of the record peak above $147 they hit last July, because of a downturn in global energy demand. The global financial crisis, the worst since the 1930s, has pushed much of the industrialised world into recession, and also dimmed the economic outlook for the Arab world. EFG-Hermes said this week it expected Saudi Arabia’s economy to contract 0.9 per cent this year on sharp crude production cuts, while Standard Chartered Bank last week slashed its UAE growth forecast to 0.5 per cent.
Egypt has set an economic growth target of 5.5 per cent for the two years starting July 2008, down from 7.2 percent in the 2007-08 fiscal year, saying it expected exports, foreign investments, tourism and Suez Canal receipts to get hit by the global downturn.
“For each dollar the oil price declines, Arab oil revenues fall between $4 and $10 billion annually,” Organisation of Arab Petroleum Exporting Countries (OAPEC) said in a briefing report for discussion by policymakers on Wednesday. “This means rising pressure on governments’ budgets and the reduction of expenditures and average growth rates.” Saudi Arabia, Oman and Dubai are already projecting budget deficits this year after recording bumper surpluses during a six-year oil-fuelled economic boom.
The global credit crisis has led to a series of project cancellations and scores of job losses, especially in Dubai, the region’s financial hub. If oil demand continues to be weak, “a majority” of Arab investments into projects designed to boost capacity would likely be stopped, OAPEC said.
Policymakers were also due to discuss ways to boost coordination in banking supervision, monetary and fiscal policies and how they could work toward stabilising the oil market, Shamali said, without giving details.
http://www.khaleejtimes.com/biz/insi...ction=business
Shahristani discuss the consolidation of Iraq's Russian economic relations
Research and Oil Minister Hussain al-Shahristani, with the Russian delegation headed by First Deputy Chairman of the Federation Council of Federal Assembly of the Russian Federal Alexander Torshin ways to enhance cooperation between the two countries in the fields of oil and gas.
A spokesman Asim Jihad, the Oil Ministry in a press release published on Monday that al-Shahristani said during the meeting that Iraq has a long relationship with the Russian Federation in all fields of economy, trade, industrial, cultural, reiterated its concern for the consolidation of these relations to serve the common interests of the two countries.
Turn over the head of the Russian delegation on the desire of Russian companies to participate in the rehabilitation of oil fields and the reconstruction of the infrastructure of the Iraqi oil sector.
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CNPC and Iraqi government sign Al-Ahdab field development agreement
17th November 2008
By Staff Writer
The China National Petroleum Corporation and the Iraqi government have signed a 23-year service agreement for the development of the Al-Ahdab oilfield in Baghdad, Iraq. Another Chinese partner, Zhenhua Oil, also signed the contract copy.
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COMPANIES MENTIONED
The contract is among Iraq's first batch of joint venture oil projects since the US-led invasion in 2003, and is significant to expanding strategic energy co-operation between the two countries. The Al-Ahdab oilfield is located 180km southwest to Baghdad, with a structural area of 200sqkm. The China National Petroleum Corporation (CNPC) will use advanced and applicable technologies to increase the oilfield's production capacity to 25,000 barrels per day (bpd) within three years, and to 115,000bpd within six years.
Iraqi FM praises Kuwait Amir''s inter-Arab conciliation initiative
The arab economic summit 1/20/2009 3:53:00 PM
KUWAIT, Jan 20 (KUNA) -- Iraqi foreign minister Hoshyar Zebari said Tuesday the Arab Economic Summit's biggest achievement was His Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Sabah's initiative for inter-Arab conciliation.
Zebari, speaking to KUNA, said King Abdullah of Saudi Arabia's speech and his vision to overcome differences was positively welcomed by all participants and helped in achieving conciliation.
He said this conciliation needed to be translated into deeds and noted that the situation in the Arab arena needed such initiatives.
The political developments specially the conditions in Gaza Strip have not affected the economic aspect of the summit, said Zebari, and said he was looking forward to implementing the resolutions for the economic development in the Arab countries.
Iraq's participanting in the Arab Economic summit highlighted its role in economic integration.
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