Dong holders.....Vietnam may allow faster currency gains!!!


Clients perform a cash transaction in Ho Chi Minh CityThe dong may climb to the highest level in seven years as the central bank allows a faster pace of appreciation after it widened the trading band for the currency, Morgan Stanley said. The currency rose to a 2 1/2-year high against the dollar Tuesday after the State Bank of Vietnam expanded the currency’s daily trading band to 1 percent Monday from 0.75 percent.
The decision came after the government asked the central bank to allow the dong to strengthen to contain accelerating inflation.
“Band widening is a precursor for the SBV to allow for greater appreciation as it tightens monetary policy,’’ Stewart Newnham, a Hong Kong-based currency strategist at the second-largest US securities firm, wrote in a research note Tuesday.
The Vietnamese dong may advance to 15,000 by the end of this year, Newnham said in an e-mail to Bloomberg, a level unseen since September 2001.
The dong traded at the strongest against the dollar since August 19, 2005.
The currency was little changed at 15,862 per dollar Wednesday, according to prices compiled by Bloomberg.
The government told the State Bank of Vietnam to widen the band to 2 percent, according to a directive posted on the cabinet’s website on March 4.
The central bank sets a daily reference rate for the dong and allows the currency to trade a fixed amount on either side.
Vietnam has had a policy of keeping the dong weak to make exports competitive.
‘Redirecting policy’
“The SBV is in the midst of redirecting policy from targeting the exchange rate to fighting inflation,’’ Newnham wrote.
“Re-establishing price stability has superseded maintaining export competitiveness as the chief policy goal for the authorities.”
Inflation quickened to 15.7 percent in February from a year earlier, the fastest pace since 1995, the government said last month.
A stronger local currency may help reduce the cost of imported dairy products, cooking oils, and petroleum goods.
IMF calls for higher rates
The dong was the third-best performer among Asia’s 17 most-traded currencies versus the dollar in the past five days as the International Monetary Fund (IMF) said Vietnam’s economy was showing signs of overheating and higher borrowing costs were probably needed to slow inflation.
“The signs of overheating in the domestic economy are a concern,’’ said Benedict Bingham, the IMF’s senior resident representative in Hanoi, in a statement Tuesday.
“A sustained period of tighter monetary conditions will likely be necessary to rein in high credit growth.’’
Vietnam’s gross domestic product (GDP) last year expanded 8.5 percent, the fastest since 1996, and the government is targeting growth of 9 percent this year.
Inflation is at the quickest in more than a decade, and the trade gap more than tripled in the first two months of the year, driven by a surge in imports.
The central bank in January raised interest rates for the first time in more than two years and increased compulsory bank reserves to slow inflation.
It will also sell VND20.3 trillion (US$1.3 billion) in bills on March 17 that banks have to buy to reduce money supply.
The dong gained the most in four months Wednesday, the first day the new band was in effect.
“This move is welcome,’’ Bingham said.
A tightening of monetary policy is necessary because of Vietnam’s credit growth of “around 50 percent” in 2007, he said.
Money-market disruptions Vietnam is facing a choice between “high growth in the short run versus financial stability,” Ho Chi Minh City-based fund manager Vinacapital Investment Management Ltd. said in a report last month.
State Bank of Vietnam Governor Nguyen Van Giau on January 30 raised the base rate to 8.75 percent from 8.25 percent, refinancing rate to 7.5 percent from 6.5 percent, and discount rate to 6 percent from 4.5 percent.
“The decision of the State Bank of Vietnam to tighten monetary policy at the start of the year was appropriate given the rise in inflation and widening of the trade deficit,’’ Bingham said in the report.
Vietnam would “minimize disruptions to the domestic money market,” through “controlled increases in interest rates’’ rather than trying to control the supply of cash in the economy, the statement said.
Source: Bloomberg

http://www.thanhniennews.com/busines...2&newsid=36675

WOW my Dong keeps growing....

OPEC to provinces and territories of Iraq,,GOOD READ
يوسف الفضل Yusuf credit
Thursday, 13 March 2008 Thursday, 13 March 2008


تشير فقرات الدستور الجديد للعراق ان المحافظات والأقاليم سيكون لها الكلمة الأخيرة في صياغة الاستثمارات النفطية في مناطقها حسب المادة 115. Paragraphs refer new constitution for Iraq that the provinces and territories will have the final say in the formulation of oil investment in their regions as Article 115. نعم هناك المادتان 111 و112 واللذان يشيران الى مشاركة الحكومة المركزية في العمليات الأستثمارية ولكن المادة 115 تحدد الجهة التي لها القرار النهائي والفاصل! Yes, there are articles 111 and 112, which indicates the central government involvement in investment operations, but Article 115 define who has the final decision and break!

ان الدستور الجديد للعراق سيفتح الباب للشركات النفطية حرية المناورة في ممارسة الأمور التالية: That the new constitution for Iraq will open the door to oil companies freedom to maneuver in the exercise of the following:

1. الحصول على أفضل الأمتيازات من المحافظات والأقاليم لتوفر عدد غير قليل من الزبائن المحتاجين الى اشتثمارات في المجال النفطي. 1. get the best concessions from the provinces and territories to provide quite a few customers in need Achttmarat in the field of oil. وان ذلك يخلق جوأ تنافسيأ بين زبائن جديدي عهد على حقل اقتصادي ليس لهم خبرة فيه. That creates a competitive atmosphere among customers DJEDIDI era of the economic field have no experience in it.

2. ان الزبائن الجدد شديدي الحاجة للمال لأسباب عديدة مبررة وغير مبررة مما يجعل المستثمرين أقوياء في المفاوضات. 2. that new customers abjectly need of money for many reasons, justified and unjustified, which makes investors strong in the negotiations.

3. ان الزبائن الجدد ضعفاء سياسيأ ويمكن استغلال هذا الضعف للحصول على تنازلات في العقود مقابل اسناد سياسي واعلامي ومالي وغيرها من الوسائل المتاحة! 3. that new customers vulnerable politically and could exploit this vulnerability to obtain concessions in return for contracts assigning political and media, financial and other means available!

4. يمكن للشركات ان تتبع نفس الأسلوب او اكثر مكرأ من خلال تطوير بعض الحقول في بعض المناطق وتلكؤها في مناطق أخرى! 4. Companies could follow the same method or more subtle through the development of some fields in some areas and reluctance in other regions! وقد مارست الشركات سابقأ مع دول أوبيك هذه السياسة من اجل الضغط على بعض الدول التي كانت تطالب برفع الأسعار ورفع انتاجها كذلك! The companies previously practiced with the OPEC policy to put pressure on some countries which had been demanded lifting prices and raise production further! وهذه السياسة ادت الى تكوين منظمة اوبيك خلال الستينات من القرن الماضي. This policy led to the formation of the Organization of OPEC during the sixties of the last century.

وان تعامل الدستور الجديد مع الثروة النفطية على اساس تبعيتها للمحافظات والأقاليم يمكن ان يفتح الباب على مصراعيه لصراع غير مبرر على عائدية الحقول الحدودية بين المحافظات والأقاليم واضعاف الحس الوطني! The new constitution dealing with oil wealth on the basis of affiliation to the provinces and territories could open the door to a conflict unjustified OWNING fields on the border between the provinces and territories and weaken the patriotic sense!

وعليه فان من الحكمة والمصلحة الوطنية ان تتعامل الدولة مع الثروة النفطية على اساس فدرالي ادارة واستثمارأ وموردأ. Therefore, the wisdom and the national interest to deal with the state oil wealth on the basis of federal management, investment and resource.




عدد القراءات: 37 Number of readings: 37





ساهم برأيك Contributed passengers

Analysis: Pentagon: Iraq oil laws stuck < WRONG DATE? >

disclaimer: image is for illustration purposes only
by Ben Lando
Washington, March 12, 2007
A Pentagon report says four key oil-related laws in Iraq are "stalled" in political gridlock while gains in oil and power production could be lost.
The quarterly report to Congress, "Measuring Security and Stability in Iraq," released Tuesday, said the law commonly known as the oil law is the furthest along the political process -- it made it to Parliament but is stuck in the Energy Committee.

The law, which would set guidelines for investment in and governance of Iraq's oil sector, is part of a hydrocarbons package that includes laws governing revenue sharing, reconstituting the national oil company and reorganizing the Ministry of Oil. Those three are still being considered by the Shura Council, a judicial review body.

"All four components of the hydrocarbon law are stalled," the report said. The oil law is at the forefront of a fight over the extent of central control over the oil resources and whether Iraq's oil and gas should be open to foreign investment.

The Pentagon report cited disputes between the central government and Iraq's Kurdistan Regional Government over the latter's decision to pass its own oil law and sign dozens of exploration contracts with international oil firms.

"The KRG's unilateral oil deals with foreign companies, which Minister of Oil (Hussain al-) Shahristani declared illegal, reflect a core difference over the appropriate degree of KRG autonomy," the report added. And it cited Shahristani's moves to blacklist such foreign companies from future projects inside Iraq, as well as cutting oil supplies to two companies -- South Korea's SK Energy and Austria's OMV.

The KRG is also frustrated with Baghdad over its lax enforcement of a provision in the 2005 Constitution that would decide the fate of disputed territories in northern Iraq, just outside the KRG's territory. This includes the oil-rich and multiethnic but heavily Kurdish city of Kirkuk.

Abdul-Hadi al-Hasani, parliamentarian and deputy of the Energy Committee, told United Press International last month an ongoing review of Iraq's Constitution, aimed at ironing out some vague wording and varied interpretations, needs to take place first.

"This will make the way to pass the law of oil and gas," he said. "It will be very easy to be passed because we won't have any disagreements. Roadblocks now are not technical, they are political."

The Pentagon report cited progress of that review being stymied by arguments over the disputed territories and the oil law. All sides in this fight say the Constitution is on their side.

Iraq's oil, gas and electricity sectors have been hard hit by the current war, as well as wars of recent decades, mismanagement by Saddam Hussein and U.N. sanctions. This has damaged infrastructure, harmed oil wells and fields and power plants, prevented new technology from coming to Iraq and prevented modern training for Iraqi workers.

Nevertheless, workers brought oil and electricity production back online shortly after the 2003 invasion. Production last year cracked the 2 million barrel per day average and is now regularly above it. Exports have followed suit, a boon to Iraq in times of even higher oil prices.

Estimates of the short- and medium-term needs of the hydrocarbons and electricity sectors are on the higher side of tens of billions of dollars in order to meet the plans of the Iraqi government to serve Iraqi citizens and industry needs, but also export fuel and electricity.

The Defense Department report said without a new oil law Iraq will be unable to meet its 2010 goal of 3.4 million bpd. It also said refineries are running at below 50 percent capacity and require new equipment, security and electricity. In turn, or as a result, Iraq's power plants are unable to produce what Iraqis need, due to insecurity and a lack of fuel. Electricity production reached key peaks in 2007, but "the challenges eventually overwhelmed the system and electrical production fell in January 2008," the report said.

Iraq's Oil and Electricity ministries, however, have been criticized by Iraqi workers and civil society for not investing enough funds into Iraqi-led projects in the oil and power sectors, instead waiting for foreign companies.

The ministries have routinely spent only a fraction of their multibillion-dollar capital budget, though that percentage is increasing year-on-year. Security issues, new investment legislation, corruption or fears of allegations of graft, and a lack of administrative capacity to spend the funds have been blamed for that spending.

U.S. auditors are being asked by Congress to look into how much Iraq is spending on reconstruction.

(e-mail: blando@upi.com)

WOWZA....IMF will dump 400 tonnes of Gold in April or May of this year

Economic Daily News Golden Reward will be organized to attract many participants Economic Daily News readers, in the hall with a wealth of life magazine read carefully.

記者邱德祥／攝影
Qiudexiang reporter / photographer


「黃金價格這麼高了，到底還能不能買？現在進場適合嗎？」常有投資人會提出類似的問題，我有時會以開玩笑的 口吻說：「今天的高點，可能是明天的低點；今年的高點，可能是明年的低點。」
"Gold prices so high, in the end can not buy? Approach for now?" Investors will often make a similar problem, I sometimes jokingly tone, said: "Today's high point, probably tomorrow lows of this year's high point, probably next year lows. "

就趨勢來看，因長期供給不足，又具基本面支撐，金價依舊處多頭走勢，仍有多年榮景。
On the trend, due to insufficient long-term supply, and a fundamental support, still the gold bull run, there are still years of prosperity.
但上半年金價漲幅太高與美國經濟惡化導致需求減少，預估基本面會弱一點，若拉回修正，幅度可能是去年8月至 今漲幅的三成左右。
However, the first half of gold or too high and lead to deterioration of the U.S. economy reduced demand forecast will be weak fundamentals, if that back, the rate is likely to increase since August last year of about 30%.

目前金價逼近1,000美元，我認為，千美元關卡破不破不是重點，而是金價已來到關鍵的心理關卡及整數關卡 。
Gold now approaching 1,000 US dollars, I think, 1,000 US dollars instead of destroying the barriers break key, but gold has been the key to the psychological barrier and integer points.

金價從去年第四季起，實質需求就沒跟上，後續價格推升，主要由國際熱錢帶動，即便如此，預估金價近期仍有行 情，但要留意當行情由投資客的資金主導時，一旦價位到了滿足點，就可能出現回檔。
Gold from the fourth quarter of last year, never keep up with the actual demand, pushing up the price or follow-up, driven mainly by international hot money, even so, there are still forecast gold prices recently, it should be noted when Quotes from investment funds off - , whenever price points to meet on possible retreated.

影響金價的因素可從供需基本面、經濟、美元及原油價格等來判斷。
Gold factors affecting supply and demand fundamentals from the economy, the dollar and crude oil prices, to judge.
目前影響金價走勢的一項重要消息就是，全球最大貨幣持有者─國際貨幣基金會（IMF）的釋金計畫，數量約4 00公噸，預估該計畫將在今年4、5月時敲定釋出細節，若剛好這一波金價漲勢到頂修正，市場又以此消息炒作 ，預期恐讓金價跌幅加大。
Currently affecting the movement of the gold is an important news, the world's largest currency holders ─ International Monetary Fund (IMF) plans to release the number of about 400 tonnes, estimated the plan will be on this year 4,5 When finalized details of the release, if just the top of this wave of price gains amendment, and this story market speculation, fear is expected to increase the price decreases.

除了供需面，由於國際黃金價格是以美元計價，美元愈貶、黃金愈漲；反之，美元若大幅反彈，金價就可能面臨一 波下修壓力，不過，這個壓力是短期而非長期的。
Apart from the supply and demand side, as the international price of gold is denominated in the dollar, the dollar down more, the more gold rose the contrary, if the dollar rebounded sharply, gold may face a wave of repair under pressure, but this pressure is the short-term rather than long-term.

在原油價格因素方面，根據美林報告顯示，油價與黃金的關聯度高達81%，油價亦是觀察通膨的重要指標，不斷 高漲的油價牽動通膨，也帶動金價上揚。
Factors in the price of crude oil, according to Merrill Lynch report, oil prices and gold correlation as high as 81%, oil prices is also an important indicator of inflation observation, and continuously rising oil prices affecting inflation, but to the jump.

從價格波動的角度來看，石油容易受消息面衝擊、價位波動劇烈，反之黃金價格波動相對穩定，也較 容易預測。
From the point of view of fluctuations in the price of oil vulnerable to news of the impact, and the price volatile, contrary fluctuations in the price of gold is relatively stable, and also more easily predictable.
若以外幣投資角度比較，拿去年外幣對新台幣（含利息收入）與黃金存摺收益率相比，金價報酬率逾三成，比投資 任何外幣都好。
In terms of foreign currency investment perspective compared to last year, with foreign currency NT (including interest income) and gold passbook yield compared to 30 percent rate of return on gold than invest in any foreign currency is good.

如果投資人擔心通膨問題，可以用原物料商品指數（CRB）當作指標，金價的報酬率仍遠高於CRB指數，也與 原油相去不遠。
If investors are worried about inflation, can be used raw materials Commodity Index (CRB) as indicators of the rate of return on gold is still much higher than the CRB index, and then the crude oil.

雖然黃金屬防禦性資產，不過受惠金價格攀高、保值性水漲船高，在亂世中反成為攻擊資產。
Although the yellow metal defensive assets, but benefit from the price rising, and preserve and increase of things in the troubled times in a counter-attack assets.
但在資金紛湧下，也造成美國黃金期貨淨投機未平倉部位不斷攀升，目前私募基金持約有五成水位，要特別留意其 動向。
But in the funds offered by Chung, the United States also caused gold futures open net speculative positions has climbed steadily, the current private equity fund holders about 50% of the water level, we must pay special attention to trends.
今年以來市場行情震盪劇烈，我認為股債平衡是不夠的，還必須要有商品平衡。
Stock Market shocks this year has been dramatic, I think it is not enough balance debt stocks, commodities must also be balanced.
黃金是相當不錯的選擇，可抗通膨又兼具防禦型投資。
Gold is a good choice, both defense and anti-inflationary investment.
現有黃金商品包括黃金條塊、金幣、黃金存摺、黃金ETF、及黃金期貨等，至於比例部位則視投資人視風險承受 程度及投資目標作調配。
Existing commodities including gold bar of gold, gold coins and gold passbook gold ETF, and gold futures, etc., as part of investment depends on the extent of people regard risk tolerance and investment objectives for the deployment.


【2008/03/10 經濟日報】 @ http://udn.com/
[Economic Daily News: @ 2008/03/10 http://udn.com/

http://translate.google.com/translat...hl=en&ie=UTF-8

Are Dinar holders considered to be foreign investors?

Iraq Needs Well-Defined Structure to Protect Foreign Investments: Vice President Tarig Al-Hashimi
13.03.08 11:47

Azerbaijan, Baku, 12 March / corr. TrendCapital R. Hafizoglu, A. Badalova/ Iraq needs a federal law on oil and a well-defined structure in order to protect foreign investments, Tarig Al-Hashimi, the vice-president of Iraq said in his exclusive interview with TrendCapital on 12 March.


According to the vice-president, a decision by the Iraqi Oil Ministry to cease cooperation with international oil companies who signed a contract with the Kurd autonomy is not a big problem.


The constitutional mandate and federal law on oil are issues of paramount importance, Al-Hashimi said.


“Oil companies with a good reputation are unwillingly to invest in Iraq not because of disputes between central and regional government of the country, but because of the lack of a well-defined structure of investment or well-defined mechanism to protect foreign investments,” the vice-president said.


“A well-defined structure of investment means structured law on oil and impartial justice that can protect the rights and interests of foreign oil companies doing business in Iraq,” he said.


According to foreign mass media reports, companies who have signed agreements both with Baghdad and the Kurd government include Arabic Crescent, Canadian Western Oil Sands and Heritage Oil, Indian Reliance Industries and the Austrian company OMV. In December 2007, the Oil Ministry of Iraq broke off a contract with the South Korean company SK Energy who supplied oil to South Korea as a consortium of companies SK Energy and GS Holdings and Korea National Oil Corp approved the project on oil production proposed by the government of the Kurd autonomy which was not coordinated with the federal government.


Ayad Alavi, the ex-premier of Iraq said in his exclusive interview with TrendCapital that the decision by the Oil Ministry of Iraq to cease cooperation with international oil companies who try to work in Kurdistan will lead to further isolation and tension in the country.


According to Alavi, it had already been several years since the country has seen big investments. Iraq planned to produce 3mln barrels of oil per day in 2008, but it has not achieved this volume.


Ayad Alavi also stressed the importance of introducing a new law on oil in Iraq.



The correspondent can be contacted at: Capital@trend.az

So is this it, Oil contracts, HCL president speach, is this the moment we have been waiting for??? < copied post >

We really only have two choices Because we all know the oil is going to be pumped, right no yes........

#1 we wait this out and it is slow grow all the way and I have a great old age.

Or

#2 The oil contracts get signed, the HCL is announced, and IRaq gets full soverenty (did I spell that right), and the president makes a big announcement and then we an RV.

I guess my question is this,,, are we at the point that we all have been waiting for, IS THIS IT?????

Because Exxon alone could buy up all the dinar in print with just the profits from this year (that exxon made). So I don't think they would sign contracts based on current salaries and expenses based on the dinar side. I would think that they would pay based on a better ratio. Otherwise Exxon as an example would be practically stealing money. They would pay iraqi employees 400,000 dinars each year versus american workers $100,000 USD each year.

So is this the moment that we have been waiting for, because if they announce the HCL and the contracts and no currency adjustment then are we all in agreement that it is slow grow for sure???? I can't imagine they would announce the HCL after they sign the contracts or do I have that backwards?

Petraeus: Iraqi Leaders Not Making 'Sufficient Progress'

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Who's Blogging» Links to this article
Sadr issued his cease-fire in August 2007 and renewed it last month in an attempt to increase his control over his Mahdi Army militia and expel renegade fighters. U.S. military commanders who once saw Sadr and his forces as enemies now speak deferentially of the cleric, who has maintained his insistence that the U.S. occupation must end.

In the interview, Petraeus conceded that some elements of both the Awakening movement and the Mahdi Army may be standing down in order to prepare for the day when the U.S. presence is diminished. "Some of them may be keeping their powder dry," Petraeus said of Mahdi Army members. "Obviously you would expect some of that to happen.

"The issue is, again," he continued, "how to sort of prolong what has been achieved, in just a host of different neighborhoods, villages, towns and cities, so that the Iraqi structures can continue to gather strength."

Sunni fighters in the western province of Anbar who have joined the Awakening "are waiting for the next opportunity," not the next war, Petraeus asserted. "What they want to do is get more closely linked with Baghdad so they can continue to benefit from the enormous oil revenue wealth which is pouring into this country."

Petraeus said he and U.S. Ambassador Ryan C. Crocker had "repeatedly noted that it's crucial that the Iraqis exploit the opportunities that we and our Iraqi counterparts have fought so hard to provide them."

ya thats just silly....but somebody believes it..lol

Yeah dude..I've heard it before too..hmmm tough to swallow though for the US to do that unless they had a crapload of Dinar...big plan..lol

lmao...crazy video

Weekly meeting convened by the Prime Minister today with experts of the ministries of oil and electricity

بيان صحفي PRESS RELEASE
اللقاء الاسبوعي الذي عقده رئيس الوزراء اليوم مع خبراء وزارتي النفط والكهرباء Weekly meeting convened by the Prime Minister today with experts of the ministries of oil and electricity

الخميس 13/3/2008 Thursday 13/3/2008

السيد رئيس الوزراء يؤكد على ضرورة زيادة انتاج وتجهيز الطاقة الكهربائية Mr. Prime Minister stresses on the need to increase the production and processing power




جدد رئيس الوزراء السيد نوري كامل المالكي تأكيده على ضرورة تحسين وزيادة إنتاج وتجهيزالطاقة الكهربائية ، وحماية محطات الطاقة الرئيسية وإتخاذ الاجراءات الرادعة لمنع الإعتداء على الكوادر العاملة فيها . New Prime Minister Nuri al-Maliki full emphasis on the need to improve and increase the production and Ttaghiztagah electric power stations and protection of principal and take deterrent measures to prevent the attack on the cadres.
كما وجه سيادته بقيام الأجهزة الامنية بتوفير الحماية اللازمة الأنابيب النفطية وخطوط نقل الطاقة الكهربائية وحمايتها من التجاوزات بالتنسيق مع وزارتي الداخلية والدفاع والقوات متعددة الجنسيات. He also drew sovereignty by the security agencies to provide the necessary protection of oil pipelines and power transmission lines, and protect them from abuses in coordination with the Ministries of Interior, Defence and the multinational forces.
جاء ذلك خلال اللقاء الاسبوعي الذي عقده السيد رئيس الوزراء، بمكتبه الرسمي اليوم ، مع الخبراء والمتخصصين في الوزارتين. This came during the weekly meeting held by Mr. Prime Minister, the official in his office today, with experts and specialists in the two ministries.
وتم خلال اللقاء مناقشة تأهيل المنافذ الحدودية لمرور الناقلات المحملة بالوقود والقادمة من دول الجوار،كما تم بحث آلية عمل شركة (جنرال اليكترك ) في العراق وفتح مكتبين إستشاريين لها في بغداد والبصرة . During the meeting to discuss the rehabilitation of border points to the passage of tankers loaded with fuel and coming from the neighboring countries, and discussed the work of the company (General Alictrk) in Iraq consultants and opened offices in Baghdad and Basra.
من جهتهم اكد الخبراء وجود تحسن ملحوظ في مستوى انتاج الطاقة خصوصا بعد المتابعة المباشرة والتوجيهات المتواصلة من قبل السيد رئيس الوزراء . For their part, experts confirmed the existence of a marked improvement in the level of energy production, especially after follow direct guidance and continued by Mr. Prime Minister.
موسوعة النهرين في 16:37 05 ربيع أول 1429 (13 مارس 2008) · التعليقات: 4 · قراءات: 233 · Guinness Mesopotamia in the first 16:37 05 Spring 1429 (March 13, 2008) comments: 4 readings: 233
تعليقات Comments
Kareem في March 13 2008 19:20:12 Kareem in the March 13 2008 19:20:12
The prime minster needs to allicate money for the ministery to buy more power station for each state. The prime minster needs to allicate money for the ministery to buy more power station for each state. Till now the electricty is very bad. Till now the electricty is very bad. Needs more good engineers, and very good experts. Needs more good engineers, and very good experts. General electric, and Bechtel is the right General electric, and Bechtel is the right
Dr. Dr. Ali في March 13 2008 19:31:01 Ali in the March 13 2008 19:31:01
I agree with Kareem. I agree with Kareem. The prime minster needs to go again to Japan, and Korea and sign a contract to build new power plant for the electricity. The prime minster needs to go again to Japan, and Korea and sign a contract to build new power plant for the electricity. So either Japan, or Kora. So either Japan, or Kora. they are okay. They are okay. Will General Electric comes to Iraq, I do not think so. Will General Electric comes to Iraq, I do not think so. We need one Company to rebuild the electricity sector in Iraq. We need one Company to rebuild the electricity sector in Iraq. Thanks doe the PM Norie Al-Malik. Thanks doe the PM Norie Al-Malik. He needs to put them in Najaf, Nasria, Somawa, Basrah He needs to put them in Najaf, Nasria, Somawa, Basrah
Kareem في March 13 2008 19:32:24 Kareem in the March 13 2008 19:32:24
It cost one million Dollars for eack Maga Watt to generate. It cost one million Dollars for eack Maga Watt to generate. If you need 800 Mega watt, then you need 800 million Dollars If you need 800 Mega watt, then you need 800 million Dollars
Ali في March 14 2008 03:00:21 Ali in the March 14 2008 03:00:21
we need only one country one Company whoe are willing to send their staffing, and Enginneers right wa way to Iraq. We need only one country one Company whoe are willing to send their staffing, and Enginneers right wa way to Iraq. Kora will do, China will do, Russia will do. Kora will do, China will do, Russia will do. You need Good Experts to talk to those Coorporation, not to send Governors only/ By the way what happen to the power station the chiness suppose to build in Al-Kut? You need Good Experts to talk to those Coorporation, not to send Governors only / By the way what happen to the power station the chiness suppose to build in Al-Kut? Thanks

Hillary has baby with Obama....Baby born with 2 faces
lmao...couldn't resist
03-12-2008
People have begun to visit a small rural village in Northern India to worship a baby born with two faces.

She was born just two days ago.

Word spread quickly among villagers about the newborn baby girl.

The baby is seen as an incarnation of God and people make offerings and ask for the baby's blessing.

The doctor who delivered her said she and her mother are healthy and doing well.

The baby girl's parents hope the government will help them give the little girl further treatment.

Video:

http://www.liveleak.com/view?i=764_1205359471

Excluding signing agreements with the Iraqi oil major companies before the summer
رويترز Reuters
Thursday, 13 March 2008 Thursday, 13 March 2008


قال مسؤولون بشركات نفط اليوم الخميس إن من المستبعد أن يوقع العراق عقود دعم فني مع شركات نفط كبرى للعمل في بعض حقوله الرئيسية قبل الصيف أي متأخرا بضعة أشهر من الموعد الذي تستهدفه بغداد . Officials said the oil companies today, Thursday, it is unlikely that Iraq signed a technical support contracts with major oil companies to work in some key fields before any late summer, a few months ahead of its target of Baghdad.

وتهدف الاتفاقات لزيادة إنتاج النفط العراقي نحو 500 ألف برميل يوميا في غضون عام لتضيف أكثر من 20 في المئة إلى الانتاج الحالي البالغ 2.27 مليون برميل يوميا . The agreements aim to increase Iraqi oil production of 500 thousand barrels a day within a year to add more than 20 percent to its current production of 2.27 million barrels per day.

وعبر وزير النفط العراقي حسين الشهرستاني الشهر الماضي عن أمله في توقيع تلك العقود في مارس اذار . Over Iraqi Oil Minister Hussein Shahrastani last month hoped to sign such contracts in March of March.

غير أن مسؤولين تنفيذيين بشركات نفط قالوا إن المفاوضين لم يبحثوا حتى الآن التفاصيل الخاصة بنطاق العمل والمبالغ المالية وعلاقة ذلك بأعمال التطوير على المدى الطويل لحقول تطمح كبرى شركات النفط للعمل بها . However, executives of oil companies said that negotiators did not discuss details until now the scope of the work and the amounts of financial and relationship with the work of the long-term development of fields aspire major oil companies to work out.

وقال مسؤول تنفيذي مطلع "أتوقع أن يكون في منتصف العام على أقرب تقدير ." The official said an executive beginning "I expect to be in the middle of the year at the earliest."

ويبدأ مسؤولون عراقيون وممثلون لشركات النفط الكبرى بي.بي وشيفرون واكسون موبيل ورويال داتش شل وتوتال جولة جديدة من المفاوضات في عمان غدا الجمعة بشأن العقود التي تصل مدتها إلى عامين . Iraqi officials begin, and representatives of major oil companies me. Me and Chevron, Exxon Mobil and Royal Dutch Shell and Total new round of negotiations in Amman tomorrow, Friday, on contracts of up to two years.

وقانون النفط المهم الذي يحدد إطار عمل الشركات الأجنبية معطل في البرلمان منذ أكثر من عام. The important petroleum law which defines the framework of the foreign companies disabled in Parliament more than a year ago. وتأتي عقود الخدمة الفنية المحسنة في إطار إجراءات مؤقتة تهدف إلى تعزيز الانتاج لحين إقرار القانون . Comes improved technical service contracts under temporary measures aimed at enhancing production until the passing of the bill.

ورغم ذلك تريد الشركات الكبرى ربط عقود الخدمة الفنية بالمشاركة المستقبلية في استغلال الحقول قبل أن تمضي قدما . Despite that big companies want to link service contracts artistic future participation in the exploitation of the fields before moving forward.

وقال مسؤول آخر "ليس من الواضح كيف يمكن إرساء هذه العلاقة طويلة الأجل ولا ما هي طبيعة تلك العلاقة ." Another official said, "It is not clear how this relationship can establish long-term, and what is the nature of that relationship."

وأضاف أن الشركات الكبرى تخشى من انه بعد عامين من خدمة الحقول فنيا يمكن أن تتغلب عليها شركات أخرى في عطاءات تنافسية بشأن عقود طويلة الأجل. He added that major companies fear that, after two years of field service technicians can be overcome by other companies in competitive bidding on long-term contracts. وتابع أنها سترغب على الأقل في الحصول على حق مضاهاة أفضل عرض في المزادات . He continued that it would be willing at least to the right of matching the best offer in the auctions.

وثمة مصدر قلق آخر يتمثل فيما إذا كانت الحكومات العراقية القادمة ستحترم أي علاقة تقام في الوقت الحالي . Another concern is whether the coming Iraqi government would respect any relationship established at this time.

وقال أحد المصادر إن محادثات عمان بشأن بعض الاتفاقات أقرب إلى الاكتمال من أخرى وإن المحادثات مع بي.بي واكسون موبيل هي الأقل تقدما . One source said that talks Amman on some agreements closer to the completion of another, and talks with me. Me and Exxon Mobil are less advanced.

وصرح المسؤولون بأن بي.بي تجري محادثات بشأن حقل نفط الرميلة الجنوبي بينما تبحث شيفرون وتوتال معا حقل نفط غرب القرنة وتدرس اكسون موبيل حقل الزبير . The officials said that to me. Me holding talks on the southern Rumaila oil field while looking Chevron and Total both the West Qurna oil field and examine Exxon Mobil field Zubayr.

وتتطلع شل للعمل بحقل كركوك الشمالي إلى جانب مشاركة بي.اتش.بي بيليتون في حقل ميسان الجنوبي . Shell looks to work the northern Kirkuk maximum participation by me. Craft. Me Billiton in the field of the southern Missan.

ويتوقع أن يعزز كل من تلك الاتفاقات الخمسة انتاج النفط العراقي بواقع 100 ألف برميل يوميا . It is expected that enhances each of those agreements five Iraqi oil production by 100 thousand barrels a day.

وهناك عامل آخر يعقد التوصل إلى اتفاقات يتمثل في كيف ستنفذ الشركات العمل وهي غير قادرة على إرسال موظفيها بسبب انعدام الأمن وسيتعين عليها العمل من خلال إصدار توصيات للشركات العراقية الحكومية العاملة . Another factor will be to reach agreements on how the companies will work and are not able to send their staff because of insecurity and will have to work through the issue recommendations for companies Iraqi government workforce.

وتمنح العقود للشركات الكبرى دورا أكبر من ذي قبل في إدارة مشروعات صيانة وتطوير الحقول . The contracts awarded to large companies a larger role than ever before in the management of projects, maintenance and development of the fields.

ووفرت تلك الشركات لسنوات دراسات ميدانية ودعما فنيا وتدريبا بخصوص تلك الحقول محاولة نيل رضا بغداد . Provided those companies for years to field studies and technical support and training for those fields attempt Neil Reza Baghdad.

Dollar's Slump Puts Morgan, Goldman on `Intervention Watch'

By John Fraher and Simon Kennedy

March 13 (Bloomberg) -- The dollar's record-breaking slide may trigger the first coordinated effort to prop up the currency in 13 years, say strategists at Morgan Stanley and Goldman Sachs Group Inc.

The currency today fell below $1.56 per euro and slumped to the lowest level in 12 years versus the yen. That has prompted complaints from European Central Bank President Jean-Claude Trichet and Japanese Finance Minister Fukushiro Nukaga. U.S. Treasury Secretary Henry Paulson said today he backs a ``strong dollar'' and refused to elaborate when questioned at a press conference in Washington.

The challenge for policy makers is fighting the $3.2 trillion-a-day currency market while the Federal Reserve cuts interest rates and the U.S. economy falters. With traders increasing bets on a weaker dollar, the Group of Seven nations may be compelled to act, some strategists said.

``We're on an intervention watch,'' Stephen Jen, Morgan Stanley's London-based head of foreign-exchange research, said in a telephone interview today. ``While I don't think we have reached the threshold yet, the argument in favor of it is gradually becoming compelling.''

The dollar today dipped below 100 yen for the first time since 1995, when the G-7 last stepped in to prop up the U.S. currency. It's lost 15 percent against the euro since September as the Fed's rate reductions dull the currency's allure. The slide has accelerated in the past two weeks, putting the euro at $1.5624.

Executives and politicians across the world say they're becoming increasingly worried about the dollar's decline.

Watanabe Anxiety

Toyota Motor Corp. President Katsuaki Watanabe said on March 7 the stronger yen is making conditions ``tough'' for the carmaker. Germany's MTU Aero Engines Holding AG, the largest independent provider of jet-engine maintenance, said today that the dollar's drop may ``cancel out'' the company's growth in euro terms this year.

The U.S. currency's drop may also infect other markets by further weakening confidence in U.S. assets, said Jim O'Neill, chief economist at Goldman Sachs. Morgan Stanley's Jen said the weaker dollar is already spurring higher commodity prices.

``The dollar's fall will worry other markets, which are so fragile right now,'' O'Neill said in a telephone interview today. ``Intervention will definitely be on the minds of policy makers.''

The dollar's drop accelerated after a Carlyle Group Inc. fund moved closer to collapse.

Any action by the G-7 would be the first since its governments united in September 2000 to boost a falling euro. The dollar sank as low as 79.75 yen in 1995 to prompt a rescue then.

Concentrating on China

Since 2002, the G-7 has focused on lobbying China to stop meddling to weaken the yuan while leaving itself with some room to maneuver by noting its aversion to ``excess volatility and excessive movements in exchange rates.''

A united bid to aid the dollar may still not be around the corner. For now, a falling U.S. currency and surging euro are giving support to a weakening American economy by spurring its exports. It's also helping the ECB contain inflation, which is at a 14-year high of 3.2 percent.

Supporting the dollar may also prove futile as its decline partly reflects the Fed's cuts and the ECB's decision not to follow, said Chris Turner at ING Financial Markets.

The Fed has cut its main rate by 2.25 percentage points since September to 3 percent, while the ECB's rate is still at a six-year high of 4 percent.

`Worse' Than Nothing

``Failed intervention is worse than no intervention,'' said Turner, ING's head of currency research in London. ``Policy makers have their hands tied and will defer to the global priority of the Fed slashing interest rates.''

Japan may be more willing to step into markets at a time when its economy is deteriorating and as investors start to bet the Bank of Japan will cut rates by year-end, said Ashley Davies, a currency strategist at UBS AG in Singapore.

``Intervention could easily become consistent with monetary policy,'' said Davies. ``We don't see any major reason why the Bank of Japan cannot resume.''

Eisuke Sakakibara, dubbed ``Mr. Yen'' for his ability to influence the currency during his 1997-1999 tenure as a vice finance minister, is more skeptical. He told a conference in Tokyo on March 11 that the yen is still cheaper than when he sold dollars a decade ago.

``The yen is still pretty much weak against major currencies such as the euro,'' Sakakibara said.

`Excessive Movements'

Policy makers are still stepping up their rhetoric. Trichet said March 10 that he's ``concerned'' about the euro's surge, while Nukaga said today that ``excessive movements'' are undesirable.

O'Neill also senses a shift in the Bush administration's stance. Paulson said on March 7 that ``the long-term fundamentals are strong, and I'm confident they'll be reflected in our currency market.''

O'Neill said G-7 finance ministers may sound an alarm when they convene in Washington on April 11, perhaps by inserting Paulson's statement of support for the dollar.

``A change in the G-7 statement is highly likely in April,'' said O'Neill. ``Whether they can last until then without doing anything is another question.''

Last Updated: March 13, 2008 15:50 EDT

So is this it, Oil contracts, HCL president speach, is this the moment we have been waiting for???

Copied post
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We really only have two choices Because we all know the oil is going to be pumped, right no yes........

#1 we wait this out and it is slow grow all the way and I have a great old age.

Or

#2 The oil contracts get signed, the HCL is announced, and IRaq gets full soverenty (did I spell that right), and the president makes a big announcement and then we an RV.

I guess my question is this,,, are we at the point that we all have been waiting for, IS THIS IT?????

Because Exxon alone could buy up all the dinar in print with just the profits from this year (that exxon made). So I don't think they would sign contracts based on current salaries and expenses based on the dinar side. I would think that they would pay based on a better ratio. Otherwise Exxon as an example would be practically stealing money. They would pay iraqi employees 400,000 dinars each year versus american workers $100,000 USD each year.

So is this the moment that we have been waiting for, because if they announce the HCL and the contracts and no currency adjustment then are we all in agreement that it is slow grow for sure???? I can't imagine they would announce the HCL after they sign the contracts or do I have that backwards?

We need loopholes...lol

Whats the deal with paying taxes on the Dinar? Everyone says you will pay on gains but how does anyone know when you got it?
What if you got it after 1st reval? What if you got it after all revals and you were planning a trip but changed your mind? My point is, how will anybody know?

I know I'll march right to the bank...lol

Barham Salih, Crocker looking economic relations between Iraq and America

PUKmedia بغداد 19:43:02 2008-03-13 PUKmedia Baghdad 19:43:02 2008-03-13

. Dr Barham Ahmad Salih, Deputy Prime Minister of Iraq and the American ambassador Ryan Crocker in Iraq today, Thursday, in Baghdad, the bilateral relations between the United States and Iraq, especially trade relations and the steps to start negotiations between the two sides to determine the course of strategic relations and organization between Iraq and America

http://www.google.com/translate?u=ht...&hl=en&ie=UTF8

Iraqi president participates in UAE delegation
WAM
Published: March 13, 2008, 18:56


Erbil: Jalal Talabani, Iraqi president met the UAE delegation taking part in the 13th conference of the Arab Inter-Parliamentary Union ( AIPU) in Erbil, on Wednesday.

Abdul Aziz Al Ghurair, Speaker of the Federal National Council (FNC) who heads the UAE delegation to the conference, conveyed to the Iraqi President, greetings of President His Highness Shaikh Khalifa bin Zayed Al Nahyan.

Talabani hailed the noble stand of UAE's leadership and its people at every crisis faced by Iraq, as well as the continuing help and support UAE gives to Iraq to alleviate the sufferings of Iraqi people in the present ordeal.

Talabani noted that Iraq is a country rich in natural resources such as oil, gas and minerals, which have not yet properly been exploited. He added that huge investments may tap these resources in an adequate way.

Talabani pointed out that the government has adopted a policy of supporting privatisation in an effort to end state monopoly in industrial and manufacturing sectors.

Al Ghurair said that UAE's participation in the AIPU in Erbil with a large delegation has also an aim of finding facts in Iraq, so that it can be conveyed to UAE's business community and the potential investors there. But the security situation in Iraq remains an impediment before prospective investments in the region, Al Ghurair added.

In an extended discussion with Talabani, the FNC speaker also shed light on the democratic process in the UAE under the wise leadership of Shaikh Khalifa

Massoud Barazani, President of Iraq's Kurdistan Region also received Al-Ghurair and members of the accompanying delegation.

The meeting also took place on the sidelines of the ( AIPU) conference, in Erbil.

ARTI coming alive now...bids are up

ARTI coming alive

Constitutional amendments are still pending between the Iraqi masses
13/03/2008 13/03/2008
بغداد - وكالة الصحافة العراقية Baghdad - The Iraqi News Agency
تواجه لجنة التعديلات الدستورية في مجلس النواب العراقي العديد من المشاكل على الرغم من انتهاء السقف الزمني لإنهاء التعديلات على المواد موضع الخلاف بين الكتل النيابية والقوى العراقية ، ونظرا لعجز اللجنة عن حسم الخلاف حمل عضوها النائب عن جبهة التوافق سليم عبد الله رؤساء الكتل مسؤولية التأخير ، وقال ان التلكؤ الكبير في عمل اللجنة سببه قادة الكتل، لأن عليهم أن يجتمعوا ويقرروا كيفية تعديل النصوص المهمة، أو أن يمنحوا اللجنة بعض الصلاحيات لحسم القضايا العالقة ، واشار إلى توجيه رسالة إلى مجلس رئاسة الجمهورية وإلى رئيس الوزراء، تتضمن المطالبة بحسم القضايا السياسية المختلف عليها ، من جانبه قال عضو اللجنة النائب المستقل وائل عبد اللطيف .. Facing the Commission on constitutional amendments in the House of Representatives Iraqi many problems despite the end of the ceiling timetable for ending the amendments to the articles under dispute between the parliamentary blocs and Iraqi forces, in view of the inability of the Committee to resolve the dispute carrying its member Accord Front deputy, Salim Abdullah heads blocs responsibility of the delay, and said The lag in the work of the great leaders of the bloc is due, because they must meet and decide how to modify the texts task, or to give the Commission powers to resolve some outstanding issues, and pointed to send a letter to the Presidency of the Republic and the Prime Minister, included a call for resolving contentious political issues, For his part, member of the independent MP Wael Abdel Latif .. ان الكثير من المواد موضع خلاف ما زالت عالقة ومن بينها المادة 140 المتعلقة بتطبيع الأوضاع في محافظة كركوك، والمادة 115الخاصة بتشكيل الأقاليم ، وأبدى عبد اللطيف قلقه من احتمال غياب الاتفاق على المواد موضع الخلاف، وعزا أسباب ذلك إلى عجز مجلس النواب عن أداء دوره التشريعي ولجوئه إلى التوافقات السياسية في إنجاز مهماته ، وفي إطار الجدل الدائر في الساحة العراقية بخصوص إعادة قانون مجالس المحافظات من قبل هيئة الرئاسة إلى مجلس النواب، شكك النائب عن كتلة الائتلاف العراقي سامي العسكري بشرعية قرار الهيئة ، وقال ان النقض لا يحتاج إلى إجماع، وإنما التأكيد يحتاج إلى مصادقة جميع أعضاء هيئة الرئاسة، بمعنى أصبح لدينا ثلاثة رؤساء جمهورية لأن قرارات الهيئة وطبقا للدستور يجب أن تكون بالإجماع وهنا يأتي دور المحكمة الاتحادية ورجال القانون لتوضيح القضية ، وأوضح انه "أبدت كتل نيابية اعتراضها على إعادة القانون، نظرا لأن التعديل المحتمل يهدف إلى تحقيق مكاسب سياسية لأطراف مشاركة في الحكومة" في إشارة إلى المجلس الأعلى الإسلامي في العراق برئاسة عبد العزيز الحكيم Many of the materials in dispute is still pending, including Article 140 concerning the normalization of the situation in the province of Kirkuk, and Article 115 of the formation of regions, and expressed concern Abdellatif absence of the possibility of agreement on the articles at issue, and attributed the reasons for the inability of the House of Representatives on the performance of the legislative session and resorts synergies to accomplish his political, in the context of debate on the Iraqi arena regarding the re-law provincial assemblies by the Presidency to the House of Representatives, questioned deputy Iraqi Alliance bloc Sami legitimacy of the military decision body, and said that the veto does not need unanimity, but emphasis needs to ratification by all members of the Presidency, in the sense we have a three Presidents of the Republic because the resolutions and according to the Constitution must be unanimously and here comes the role of the Federal Court and jurists to clarify the issue, and explained that he "showed masses of parliamentary opposition to the law, because the amendment aims to achieve potential political gains of the parties to participate in government, "referring to the Supreme Islamic Council in Iraq, headed by Abdul Aziz al-Hakim

Altercation between the deputy and the Kuwaiti al-Iraqi delegation because of the debt and sovereignty
13/03/2008 13/03/2008
اربيل - وكالة الصحافة العراقية Irbil - Iraqi press agency
اكدت مصادر برلمانية من مؤتمر الاتحاد البرلماني العربي في اربيل ان مشادة جرت الاربعاء بين عضو الشعبة البرلمانية الكويتية النائب خضير العنزي وعدد من اعضاء الوفد العراقي خلال مناقشات لجنة الصياغة واعداد المشروع السياسي لاجتماع اربيل ، المشادة بدأت عندما قدم الوفد العراقي مقترحا كبند في البيان الختامي بشأن مساعدة العراق لاستعادة سيادته كاملة بناء على الفصل السابع من ميثاق الامم المتحدة، مشيرة الى ان العنزي اعترض على هذا المقترح وطلب تعديله نظرا لتعلقه بالتزامات دولية على العراق جراء غزوه للكويت، لا سيما ما يتعلق بالحدود والتعويضات وغيرهما ، لكن هذا الاعتراض لم يعجب الوفد العراقي وحاولوا مرارا اقناع الوفود المشاركة ،لكن استمرار عضوي الوفد العنزي ود . وليد الطبطبائي ساهم بالتوصل الى حل وسط يتمثل بإضافة فقرة ، بما لا يخل بالتزامات العراق تجاه الدول الاخرى The parliamentary sources of the Arab Parliamentary Union in Arbil that the altercation took place Wednesday between division member parliamentary Kuwaiti MP al Khudayr and a number of members of the Iraqi delegation during discussions of the Drafting Committee and the preparation of the political project of the meeting Irbil, dispute began when the Iraqi delegation proposed as part of the closing statement on assistance Iraq to restore its full sovereignty based on Chapter VII of the Charter of the United Nations, pointing out that al objected to the proposal and requested amendment because of their attachment to international obligations on Iraq due to its invasion of Kuwait, particularly with regard to the borders, and other awards, but this objection was not admire the Iraqi delegation and tried repeatedly convince the participating delegations, but the continuing members of the delegation, Dr. Al-Enezi. Walid score contributed to reaching a compromise is by inserting, not prejudice Iraq's obligations towards other countries

Arab Parliamentary Union calls to remove Iraq from the guardianship of Section VII of the United Nations

دعا مؤتمر الاتحاد البرلماني العربي الذي اختتم اعماله في اربيل، الخميس، الى "دعم العراق في جهوده في الخروج من وصاية الفصل السابع من ميثاق الامم المتحدة لاستعادة سيادته الكاملة واسكمال بناء القوات العراقية". The conference of the Arab Parliamentary Union which concluded in Irbil, Thursday, to "support Iraq in its efforts to emerge from the supervision of Chapter VII of the Charter of the United Nations to restore full sovereignty and Askamal building Iraqi forces." في اشارة الى الفصل الذي دخل العراق تحت وصايته بعد غزو الكويت ويخول المنظمة الاممية استخدام القوة لحفظ الامن الدولي. In a reference to the chapter, which entered Iraq under the trust after the invasion of Kuwait and authorized the organization of nations to use force to the maintenance of international security.

Next week, the distribution of the new ration card in Baghdad and some provinces

الأرشيف

اعلنت وزارة التجارة البدء بخطة توزيع البطاقة التموينية لعام 2008 بعد استكمال المعلومات الخاصة بكل بطاقة وطبعها في احدى دول الجوار. The Ministry of Trade plan to start distribution of the ration card in 2008 after completing the information on each card and printed in one of the neighboring countries.

وقال المكتب الاعلامي في وزارة التجارة في بيان له اليوم:"ان دائرة التخطيط والتموين في الوزارة إستكملت بعض المحافظات، وهي بصدد إستكمال المحافظات الأخرى، لغرض البدء ببرنامج التوزيع من خلال المراكز التموينية في جميع محافظات البلاد ووفق ضوابط وشروط الغرض منها تحديد حالات التلاعب والتحايل والاسماء المكررة". The Information Office of the Ministry of Commerce in a statement today: "The Department of Planning and Supply in the ministry completed some governorates, is in the process of updating the other governorates, for the purpose of starting the programme distribution through ration centers in all governorates of the country, according to the conditions and controls designed to identify cases of manipulation and fraud and names duplicate. "

واضاف:" ان الوزارة وضعت هذه الضوابط أمام كل مركز تمويني بهدف وضع الامور بشكل شفاف أمام المواطن الذي يطالب بالمستمسكات الرسمية والاصلية في حال مراجعته لتسلم بطاقته الجديدة". He added: "The ministry put these controls in front of each centre Tmweny aim of putting things in a transparent manner to the citizen who calls Palmsthompskat official and the original in case reviewed to receive the new card."

واوضح:""ان دائرة التخطيط والتموين أنجزت المعلومات الخاصة بالبطاقة التموينية في محافظات كربلاء وذي قار وبغداد، وستبدأ عملية التوزيع خلال الاسبوع المقبل على ان تبدأ عملية التوزيع للمحافظات الأخرى خلال الايام المقبلة " ، مشيراً الى:" ان البطاقة التموينية الجديدة تحمل مواصفات لايمكن التلاعب بها كونها محددة بعلامات مدونة لايمكن تزويرها". He explained: "" The Department of Planning and Supply completed information on the ration card in the provinces of Karbala and Baghdad, Dhi Qar, and the distribution process will begin next week to begin the process of distribution of the other provinces in the coming days, "noting:" The ration card with the new specifications can manipulate marked by a specific code can not be forged. "

Financial expert suggests: allowing private banks to open off with American banks to activate its role in reconstruction

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اكد خبير مالي ان المصارف العراقية الخاصة بحاجة الى دعم الدولة بهدف النهوض بمهامها الجديدة في ضوء قرب انطلاق حملات البناء والاعمار وتمكينها من تأدية واجباتها في هذه المرحلة Mali expert stressed that the Iraqi private banks need the support of the state aimed at promoting its new tasks in the light near the start of construction and reconstruction campaigns and to enable them to perform their duties at this stage



وقال المستشار المالي لمصرف الشمال معن غانم عبد الجليل: ان قرار رفع مبالغ الاعتمادات للمصارف الخاصة الى مليوني دولار خطوة مشجعة وجيدة لتفعيل دور هذه المصارف لكنها لا تلبي الطموح. He said financial advisor to the Bank of North Yes Ghanem Abdul Jalil: that the decision to lift the amounts of appropriations for private banks to two million dollars encouraging step and good for activating the role of these banks, but did not meet the ambitious.
وبشأن سؤال لـ(الصباح) عن طبيعة ونوع الدعم المطلوب اكد معن: ان المقترح الذي تتبناه المصارف الخاصة هو مطالبة البنك المركزي العراقي بايجاز المصارف فتح مقاصة مع المصارف الاميركية وبما يكفل النهوض بواقع المصارف وجعلها منافسة حقيقية للمصارف العالمية التي تنتظر الايذان بانطلاق الاعمار والبناء. And on the question of (morning) on the nature and type of support required stressed: Yes, the proposal sponsored by the private banks claim is the Central Bank of Iraq briefly opened clearing banks with American banks and to ensure the advancement made by banks and real competition for global banks awaiting authorize the launching of reconstruction.
واوضح بان اجراءات منح المصارف واعطائها تأمينات الاعتمادات بواقع 10 بالمائة كضمانات الدفع لا تشكل شيئاً سوى انها معاملات ورقية تقوم بها المصارف مقابل عملات بسيطة وان هذه الاجراءات لا يمكن ان تطور عمل المصارف على حد تعبيره. He explained that the procedures for the granting of bank credits and giving insurance at 10 percent payment guarantees are not only something they paperless transactions carried out by banks against the currencies of these simple procedures can be developed banks to the source.
وألمح الى ان طريقة البنك المركزي بتغذية ارصدتنا في الخارج حددت بـ 4 -5 ايام وهذا ما يعيق بعض الصفقات التجارية من خلال التأثير في الاسعار التي ترتفع وفقا لما تشهده السوق العالمية ما يتسبب في حدوث بعض الخسائر مقترحا تقليص الفترة الى مدة يومين. He suggested that the way the Central Bank of feeding our assets abroad set at 4 -5 days and this hinders some business transactions through influencing the price rise, as seen in the world market caused some losses in a proposal to reduce the period to two days.
وبشأن سؤال عن امكانية عودة رؤوس الاموال العراقية المهاجرة والعاملة في دول الجوار قال: بالامكان تشجيع هذه الاموال على العودة من خلال دعم المصارف لتمكينهامن اعطاء تسهيلات لرجال الاعمال العراقيين لتعود للعمل مع المصارف العراقية. On a question about the possibility of return of capital and Iraqi immigrant working in neighboring countries, he said: These funds can be encouraged to return through the support of banks to give Tmkinhamn facilities to Iraqi businessmen to return to work with the Iraqi banks.
ولفت الى ان البنوك في دول الجوار مستفيدة من السماح لها بفتح مقاصة مع البنوك الاميركية ما يشجعها على استقطاب رؤوس الاموال وتلك اموال العراقيين المهاجرين مستثمرة في دول الجوار لما تتمتع به من امتيازات مشجعة. He pointed out that banks in neighboring countries, taking advantage of the opening to allow them off with the American banks to encourage them to attract capital and those funds were invested in the Iraqi immigrants neighboring countries to enjoy such privileges encouraging.

Deputy for compatibility: return to negotiations stalled and the government does not want al-Maliki partnership

النائب عن جبهة التوافق العراقية ظافر العاني Deputy Iraqi Accord Front Zafer Al-Ani
وصف النائب عن جبهة التوافق العراقية ظافر العاني المفاوضات مع حكومة المالكي بشأن مطالب الجبهة التي تقدمت بها قبل أسبوعين بالمتعثرة، مشددا على أن المالكي لا يرغب في وجود شركاء سياسين له. Description deputy Iraqi Accord Front Zafer Al-Ani negotiations with the Government on Maliki demands made by the front two weeks ago Palmtosrh, stressing that al-Maliki did not wish the presence of partners Ssayasn him.

وأضاف العاني في تصريح خاص بـ "راديو سوا" أن هذه المفاوضات ما زالت مستمرة ولم تصل بعد إلى طريق مسدودة، وقال إن جبهة التوافق ما تزال بانتظار رد حكومة المالكي على رسالتها التي وجهتها لها قبل أسبوعين، لكن لديها إنطباع بانه ليس لدى الحكومة نية للرد بشكل ايجابي على مطالبها: He added Ani told the "Radio Sawa" These negotiations are still ongoing not yet reached the road blocked, and said that the Accord Front is still awaiting the Government's response to its letter Maliki addressed them two weeks ago, but had the impression that the Government has no intention to respond positively to the demands:





وأبدى العاني استياءه من تهديد رئيس الوزراء بتعيين وزراء من خارج جبهة التوافق، وأعرب عن إعتقاده بأن تلويح المالكي باختيار وزراء من خارج جبهة التوافق أو التلويح لباقي القوى السياسية بأن يكونوا بدلاء للجبهة وسيلة للابتزاز، على حد وصفه: Ani expressed his frustration at the threat of the Prime Minister to appoint ministers from outside the Accord Front, and expressed his belief that hint Maliki selecting ministers from outside the Accord Front, or waving to the rest of the political forces to be replacements for the front as a means of blackmail, in the recipe:





ووجه العاني اتهاما إلى جهات حكومية بالوقوف ضد مطالب جبهة التوافق التي وصفها بالعادلة والواقعية القابلة للتحقيق وقال: The Ani indictment points to stand against the government demands Accord Front, which he described Badelh and realism of achievable and said:





وشدد ظافر العاني النائب عن جبهة التوافق على أن المالكي لا يرغب بوجود شركاء سياسين له، متهما بعض القوى السياسية بمحاولة إبقاء حكومة المالكي ضعيفة. He stressed Zafer Al-Ani deputy Accord Front that Maliki did not wish the presence of partners Ssayasn him, accusing some political forces trying to keep the Government Maliki weak.

وأضاف العاني أن بعضهم روَّج لخلاف بين المالكي والهاشمي لكن المشكلة أن المالكي لا يريد أن يرى إلى جانبه شركاء يقفون إلى جانبه كتفا بكتف، حسب تعبيره: Ani added that some of them promoted disagreement between Maliki and the Hashemite But the problem is that Maliki does not want to see his partners to stand shoulder to shoulder his part, as he put it:

Bank of regional cooperation opens branch in Najaf

الأرشيف
افتتح فرع لمصرف التعاون الإقليمي الاسلامي للتنمية والازدهار يوم امس الاربعاء في محافظة النجف الاشرف . Opened a branch of the Islamic Bank of regional cooperation for development and prosperity on yesterday, Wednesday, in the province of Najaf.

ويعتبر الفرع هو الثالث بعد فروع بغداد وكربلاء حيث من المؤمل ان يتم افتتاح فروع اخرى في السليمانية واربيل والبصرة وطهران ودمشق . The third section is yet branches Baghdad and Karbala where it is hoped that the opening of other branches in Sulaymaniyah and Erbil and Basra, Tehran and Damascus.

ويمارس المصرف الذي يبلغ رأس ماله مئة مليون دولار اعمال الصيرفة الإسلامية كالمرابحات والمشاركات في مشاريع الاعمار والايجار و يتولى كذلك دعم الفلاحين والصناعين . Exercised by the Bank of capital hundred million dollars of Islamic banking Kalmrabhat and participating in reconstruction projects, rent, as well as the support of farmers and industry.

وقال مسؤلو المصرف لمراسلنا ان المصرف يعتمد التقنيات الحديثة في التعاملات الحسابية والمصرفية والتمويل الخارجي مع الدول الخارجية خلال مئة دقيقة كما وسيجهز المصرف بمكائن ATM التي تعتمد على الكارت في الإيداع والتسليم بدلا من الموظفين . Bank officials said to our correspondent that the bank adopt modern techniques in computational and banking transactions and external financing with foreign countries through a hundred minutes and will be equipped Bmcan bank ATM card, which depend on the deposit, instead of recognizing staff.

انتشار المصارف الاهلية في عموم العراق والنجف بصورة خاصة جاء بفضل استقرار الاوضاع الامنية وفي محاولة تنشيط حركة الاستثمار والتنمية وفتح افاق جديدة للتعاملات الحسابية والمصرفية بتقنيات حديثة ومنها ربط هذه المصارف بطريقة ON LINE . Proliferation of civil banks throughout Iraq and Najaf in particular came thanks to the stability of the security situation in an attempt to reactivate the investment and development and to open new horizons for accounting and banking transactions of modern techniques such as a way to link these banks ON LINE.

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Iraq PM Advisor: Majors Will Accept Service Contracts -Report

Thursday March 13rd, 2008 / 16h33



LONDON -(Dow Jones)- International oil majors would be willing to settle for service contracts in known oil fields in Iraq, the chairman of the advisory committee to Iraqi Prime Minister Nouri al-Maliki said Thursday.
Speaking in an interview with Arab Oil and Gas Magazine, Thamir Abbas Ghadhban, who is a former oil minister, said he was certain international oil companies would accept service contracts...for already discovered oil fields " in view of their geological characteristics, their very great potential, their low production costs and the current and future level of oil prices."
While production-sharing contracts, or PSCs, wouldn't be considered an option by anyone "of sane mind," for these oil fields, the government would have to decide if they were appropriate in areas under explorations - including the Western Desert region, Ghadhban said.
The exploration risks for companies involved in areas such as the Western Desert are compounded by the fact that that even basic infrastructure is practically nonexistent.
Royal Dutch Shell PLC (RDSB), BP PLC (BP), ExxonMobil Corp. (XOM) and Chevron Corp. (CVX) are among the majors expected to sign Technical Support Agreements with Iraq over the coming few weeks.
The Iraqi Oil Ministry has said more than 70 companies are lined up to sign service contracts over the next 18 months.
The contracts, which allow the companies develop a country's oil industry in exchange for oil or a much smaller percentage of revenue than when production is shared, are seen as a stop gap until a national oil law governing the distribution of Iraq's oil resources is agreed between Baghdad and the Kurdistan Regional Government.
Attempts to ratify the law have been hampered by political and ethnical complications in the region.
"I think there is still the possibility of compromise on the text. The differences between the two sides are not huge," Ghadhban said.
However he didn't give a time frame, saying it wasn't possible to predict when the such an agreement might be reached.
"In the current situation in Iraq, delays in the decision-making process are frequent," he added.
-By Monica Mark, Dow Jones Newswires; +44 (0) 20 7842 9260; monica.mark@dowjones.com

Support democratic governance in Iraq, and increase EU presence on the ground, say MEPs
External relations - 13-03-2008 - 13:56


The Council should become more actively engaged in assistance to Iraq and also improve the transparency of its aid to the country, says a report by Ana Gomes (PES, PT) on the EU's role in Iraq adopted with 506 votes in favour, 25 against and 26 abstentions. It calls on the Council to "step up the quantity, but especially the quality, of EU support for UN efforts to build a safe, stable, unified, prosperous and democratic Iraq."


The report urges the Council to concentrate the EU's support for democratic governance towards three goals in particular: "enhancing coordination between the Government and the Council of Representatives," "strengthening electoral procedures at the local level," and "reinforcing local democracy." It also asks it to "urge the Commission to alleviate the plight of Iraqi refugees in Jordan and Syria and in other countries in the region" and to "improve the possibilities for Iraqi refugees to find refuge in EU Member States through resettlement programmes agreed with the UNHCR (25,000 cases) or through individual asylum requests."

Speaking in the debate in Strasbourg, Baroness Emma Nicholson of Winterbourne (South East, Liberal Democrat, UK), on behalf of the ALDE Group said: "Iraq today has a true parliament and a wholly secular constitution. Iraq is one of the very few nations in this region to have a democracy – a secular democracy – despite its flaws. We therefore must do all we can to help the Iraqis strengthen the democratic process. I believe strengthening ties between our respective parliaments is one of the key ways in which we can assist. I am most honoured to be the new chairman of the delegation that the Conference of Presidents has recently created."

Caroline Lucas, (Greens/EFA, South East, UK) said: "The report before us welcomes Iraq’s observer status at the WTO as a key step towards driving Iraq’s integration in the international economy and it looks forward to the EU-Iraq trade and cooperation agreement. I just want to make sure that Iraq has sufficiently built up its own capacities for negotiation and evaluation. Otherwise we risk that country becoming once again prey to outside interests."

Transparency of EU funding

The European Parliament also asks the Council to "urge the Commission to ensure the transparency and efficiency of EU assistance for Iraq" by operating on the ground wherever possible, and by ensuring that "substantive EU assistance is directed towards improving public finance management and budgetary control, with the aim of ensuring that the Iraqi government is better able to disburse the substantial and increasing public funds now available to it." It also encourages the use of the "European Instrument for Democracy and Human Rights (EIDHR) in providing technical and financial assistance to civil society organisations," especially with the view to improving the rights of women, children and minorities, and fighting against torture and the death penalty.

Security questions

The report repeats a long-standing demand of the Parliament (which is also expressed in a separate resolution on the topic voted on the same day) to make "the EU Code of Conduct on Arms Exports legally binding." It also urges the Council to improve "EUFOR Althea's oversight of stockpiles in Bosnia-Herzegovina, by accelerating the destruction of stockpiles in the Balkans, and by helping the Iraqi authorities to 'mop up' surplus SALW [Small Arms and Light Weapons] through a large-scale disarmament, demobilisation and integration."

MEPs call for engagement in "a dialogue with the USA" to seek "enhanced multilateralisation of the role played by the international community in the country, by using the UN framework." They also call on the "Multi-National Force - Iraq (MNF-I) to engage with the Government of Iraq and account for the situation of the over 24 000 detainees held in MNF-I custody, so as to ensure respect for due process and their basic human rights." MEPs also demand "clear guidelines for the use of private military and security companies by EU institutions," and "urge Turkey to respect the territorial integrity of Iraq and not react to terrorist actions through military actions on Iraqi territory."

EU-Iraq relations

MEPs call on the Council to "foster the renewal of bilateral political, diplomatic, cultural and economic relations and exchanges between Member States and Iraq," for instance by enlarging the financial envelope of the Erasmus Mundus programme for Iraq. Members also called for increasing "the size, responsibilities and resources of the Commission's delegation in Baghdad."

This is why they are careful...There have been conflicting and mysterious statements about revaluation, especially from the governors of GCC central banks.

These conflicting statements were issued almost one after the other, as if the issue was merely a lottery or a used car auction, not the monetary policy that affects the economy and finance of these countries.


Brokers and money exchanges made the most of these statements to increase their profits through speculation. Although this speculation reached alarming levels, the authorities in charge of controlling banks and money exchanges did not take any action, which means this speculation is still taking place in all GCC countries, and is negatively affecting travel, tourism and money exchange transactions.

It is not known whether central banks are aware of the negative effects of this trend on the financial and monetary situations in GCC countries.

Financial and monetary transactions are very sensitive to fluctuations and severely affected by speculation, but central banks can control transactions through their control departments, and this is one of their most basic tasks.

For example, a state advisor in Qatar said three weeks ago that the country is studying linking its currency to a currency basket or raising its value against the dollar to combat rising inflation.

This raised speculation on the Qatari riyal for a few hours, before a statement from another official totally denied the first one.

However, some central bank governors issue contradicting statements within the same week, which causes sharp fluctuations in their local currencies and raises questions about the reality.

There is a logical fact, which is that any GCC country cannot single-handedly delink its currency from the dollar without coordinating with the other countries. The results of this step and the effects it may have on financial and monetary situations are unpredictable.

The other fact is that more than 25 years of pegging GCC currencies to the dollar and pricing oil in the greenback does not give any GCC country the flexibility to take a unilateral step in this direction.

Following the last GCC Summit in Doha, there were reports about an agreement by the countries, excluding Kuwait, to coordinate their actions.

In this case, anything said about depegging GCC currencies from the dollar or revaluing them is unfounded. Thus, central banks, and especially their bank and money exchange controlling departments, must monitor transactions and exchange rates, which is a very simple task.

Any money exchange transactions must have official receipts, which clearly show the exchange rates. This makes it easy to monitor these transactions and protect the financial and monetary market from risky speculation.

Central banks must practice their professional and controlling roles rather than issue inconsistent statements, especially given the gloomy financial situation globally.

If statements must be given, they should be coordinated and studied carefully to put the minds of the public and the business sector at ease.

This may include issuing a joint statement by the general secretariat of the GCC for all countries, especially since these reassuring gestures reflect the truth of the good economic situation and constant development in GCC countries.

The writer is a UAE economic expert.

There have been conflicting statements about revaluation, especially from governors of GCC central banks.

smoke screen?

Qatar denies Gulf states' plan to discuss currency revaluation
Bloomberg
Published: March 13, 2008, 00:48


Dubai: Qatar denied a report that Gulf region central bank representatives will consider currency revaluation when they meet next week.

The meeting is a regular, scheduled event to discuss technical aspects of monetary union and won't be attended by any central bank governors, a Qatar central bank official said.

The committee meets four times a year and will be discussing the formation of a Gulf central bank and other technical matters related to a proposed single currency, the official said, declining to be identified because of bank policy.

A local daily reported earlier yesterday that central bank officials from the six Gulf Cooperation Council states, including Saudi Arabia and the UAE, will discuss dropping their currencies' pegs to the dollar.


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Gulf states are under pressure to revalue their currencies after the dollar fell 10 per cent against the euro last year and the US Federal Reserve began cutting interest rates to ward off a recession. The weaker dollar has made imports from Europe more expensive, stoking record inflation across the region.

Gulf central bank governors will have the first of two meetings this year in Doha, Qatar, in the first week of April.

Currency revaluation is "still on the agenda," said Caroline Grady, an econ-omist with Deutsche Bank. "We expect the UAE and Qatar to move to a basket later this year. The question of when is always difficult." Qatari Prime Minister Shaikh Hamad Bin Jasem Bin Jaber Al Thani said in January that he was considering dropping the riyal's peg to the dollar or revaluing the nation's currency to help stem inflation.

Abandoning the riyal's peg is a political decision and would take several months to implement if approved, the Qatari official said yesterday.

The UAE currency's peg to the dollar is "contributing" to record inflation, UAE Minister of Economy Sultan Bin Saeed Al Mansouri said here yesterday.

Inflation in the UAE probably rose to 9.8 per cent in 2007, according to a Bloomberg survey of economists, up from 9.3 per cent in 2006. Qatar has the region's highest inflation, which remained at 13.7 per cent in the fourth quarter.

Kuwait became the first Gulf Arab state to drop its currency's peg to the dollar in May, linking the dinar to a basket of currencies that also includes the euro, the yen and the British pound.

Pentagon: Iraq's improvements threatened by corruption

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Iraq has made "limited but important" political, diplomatic and economic gains in the past three months, but improvements in security remain "fragile," the Pentagon reported Tuesday.


A wounded passenger Tuesday near a bus that was hit by a roadside bomb near Nasiriyah, southeast of Baghdad.

The passage of a budget, a law relaxing restrictions on former members of Saddam Hussein's Baath Party and legislation authorizing provincial elections "represent a significant initial step toward political reconciliation," the Defense Department's latest quarterly report on the nearly five-year-old war concluded.

Even though the country's Presidency Council returned the provincial powers law to parliament, "This process highlights the important role that the constitution and democratic exchange is playing in the political process," the report states.

A yearlong effort to pacify Baghdad and its surrounding provinces, coupled with a turn by Sunni Arab tribes against Islamic militants loyal to al Qaeda and a cease-fire among Shiite Muslim militias, has reduced the number of killings, bombings and sectarian murders to mid-2005 levels, the Pentagon found.

"New strides have been taken in reconciliation at the national, provincial and local levels, and the Iraqi economy is growing," the report states. "However, recent security gains remain fragile, and sustained progress over the long term will depend on Iraq's ability to address a complex set of issues associated with key political and economic objectives."

Civilian deaths have dropped by 72 percent since July 2007, and American and Iraqi troop losses have dropped by 72 and 70 percent over the same period, the report said. More than three-quarters of Iraqi military and police units are able to conduct operations with little or no U.S. help.

Iraq's National Police force has lagged behind the military in U.S. evaluations but "continues to increase its proficiency."

"The number of authorized, operational NP battalions is 38," the report said. "There are nine battalions capable of planning, executing, and sustaining operations with coalition support."

Al Qaeda fighters remain a threat in northern Iraq, where most fighting by U.S. and Iraqi troops is taking place, the report said. And while Iranian support for Shiite militias in the south "remains a significant impediment to stabilization," it found, an August 2007 cease-fire by anti-American Shiite cleric Muqtada al-Sadr's Mehdi Army has helped reduce the number of attacks.

Two major U.S. units, an Army brigade from the Texas-based 1st Cavalry Division and the California-based 13th Marine Expeditionary Unit, were withdrawn in the past three months. The Pentagon projects that about 140,000 American troops will remain in Iraq by July, but U.S. officials have said further withdrawals may be delayed to preserve the past year's gains.

Meanwhile, Iraq's economy has benefited from the rising price of oil, even though overall production remains just short of prewar levels. The increased price of crude netted the Iraqi government a $6.4 billion windfall over U.S. estimates, the report said.

But it warned that lack of legislation allocating the country's petroleum revenues -- one of the reconciliation measures stalled in the Iraqi parliament -- has stalled international investment, and attacks on pipelines and aging refineries have limited the amount of energy reaching ordinary Iraqis.

"Despite many projects to improve the delivery of essential services and increased emphasis by government leaders, Iraqis have seen uneven progress in the delivery of essential services such as electricity, water, sanitation and health care," it said. "Since the U.S. has transitioned out of large-scale infrastructure reconstruction, and Iraq must now fund the bulk of future reconstruction projects, further improvements are at risk."
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Reconstruction has been hampered by widespread corruption, the report found -- conclusions echoed by testimony at a Senate Appropriations Committee hearing Tuesday.

Stuart Bowen, the Pentagon's special inspector-general for reconstruction, said the recent dismissal of a black-market drug case against Iraq's deputy health minister because witnesses were too intimidated to testify shows that corruption is a "continuing and serious problem."

http://www.cnn.com/2008/WORLD/meast/...ion=cnn_latest

By the way, welcome Aero...you DO light up a room...lol

But does that still apply when you are a war torn country and the cash is in NY..while the US pays the bills? I don't know

WWNG revenue news.....huge