Kurdistan slowed Baghdad two weeks to pay for oil companies

Sunday, 02 September

Announced the Kurdistan Region, it will continue to Dh oil exports until September 15 in the extension of the deadline granted by the federal government to disputed payments to companies operating in the region.

The Kurdistan region warned that stop oil shipments will resume at the beginning of this month, due to payments But exporters Kordian said that the region decided to give Baghdad more time for the completion of payment procedures.

A source at the Ministry of Natural Resources, "we have decided to extend the deadline so that pump crude to 15 September as a gesture of goodwill."

He said in a statement carried by Reuters that the deadline aims "to give Baghdad more time to solve the problem of payment."

The extension refers to easing tensions in the dispute between Baghdad and the Kurdistan on oil and land rights and power-sharing.

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Heats up debate on the process of deletion of zeros from the currency

02/09/2012







During a seminar held by the (morning)
BAGHDAD - Haider al-Rubaie Flaih - Hussein Tgb Tamimi
Discuss Economists process of deletion of zeros from the Iraqi currency, and the order of the positives that can be reflected on the overall economic activity in Iraq or cons able to affect the business operation and financial in general, and as Deputy Governor of the Central Bank that the disintegration of the monetary system in the country is vulnerable and clear to the overall political process, board Other specialists participated in the seminar that the process requires timelines testify during the economic reality of Iraq more stability, which otherwise is witnessing now, according to specialists.
The deputy governor of the Central Bank of the appearance of Dr. Mohammed Saleh during a seminar organized by the morning yesterday on the process of deletion of zeros from the currency and with it, it's pros or cons related to the overall economic process: that Iraq suffers from enormous power of the monetary mass estimated at 35.3 trillion JD inflation rates caused an increase to dangerous levels, which called for the initiation of change currency and deleting three zeros in order to shrink as it believes in the use of small cash categories.
Pointing out that the deletion will be produced by issuing classes cash small up to 25 fils in order to fill a need transactions small future, stressing that the Iraqi dinar currently covered well and cash value estimated at more than $ 60 billion, a cap could keep the value of the dinar from All economic variables that could face the country.
Saleh was who delivered Mahazerh first at the symposium had answered a number of questions that guide the participants in the same order, as explained during his answers to the financial value of the dinar after the change will maintain its position fully, denying that you get some imbalances in the process transactional to banks and banks with customers who deposited their money before the deletion of zeros.
Despite what was said in favor of the positives can be realized after the deletion, but the president of the Association of private banks Abdul Aziz Hassoun wondered about the feasibility of the change in value of financial standing after the deletion, saying at the same time: what will result from the deletion of zeros, from the comfort of the use of the currency, Will will that rest, economically successful.
In turn expressed an economic expert Dr Akram Abdel Aziz during Mhazertha on the sidelines of the seminar for lack its own absolute in times of time to process the deletion of zeros from the currency, wondering about the impact of the operation in enhancing the value of the currency and whether it will contribute to the positive impact on monetary indicators as well as the guarantee that can Saves the process from corruption.
Abdul Aziz believes that the adoption of a strategy for managing and structuring currency surround require all economic indicators, particularly the effectiveness of the real and service sectors of the economy and what is the percentage of its contribution to the gross domestic product.
She drew Abdul Aziz that enhance the value of the currency can not be achieved implicitly, pointing out that the reasons for this comes because the value of the dinar and the strength derived from the diversification of income sources and increase built sectoral and making them able to produce goods and services, criticizing a growing reliance on the oil sector in supplying the budgets the country's financial and influenced the stability of cash income from foreign currency assets enhanced the value of the currency, as well as that this matter can keep on unilateral export content and increasing import content with a wide range of external borrowing.
And participated in the seminar a number of experts and specialists in economic affairs appeared in many government and private agencies, and will be published an extensive report for the morning seminar in future issues.


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Sadoun: Adoption of the law of oil and gas alone will solve the crisis

Sunday, 02 September

A member of the Kurdistan Alliance Muhsin al-Sadoun, Sunday, that the crisis between the center and the region will not be solved unless the approval of the oil and gas law, which is still under consultation in the House of Representatives expected passing of the bill during the current year.

Sadoun said that "the settlement between the center and the region is out of the question in the case was approved oil and gas law, which now is a mass requirement is not to the Kurds alone, but for all the people of Iraq.

And between Sadoun he "no political movement on more Menen level to accelerate in finding a final version of the law that satisfies all parties," probable "is the law was passed before the end of this year."

He added that "political solutions proved its failure in resolving the crises being aimed at finding a compromise and only temporarily postpone the crises without being solved once and for all, but we are counting on the next stage of the legislative solutions to end crisis once and for all."

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Commission: application of the customs tariff requirement for Iraq's accession to the World Trade Organization

01/09/2012 11:10

Baghdad September 1 / September (Rn) - The Commission on Economy and Investment parliamentary Saturday clause Iraq's accession to the World Trade Organization (WTO) is the application of tariff law the government Ajlth to indefinitely.

The Ministry of Commerce announced last year that federal Iraq is working on getting a permanent membership of the World Trade Organization would disrupt the Iraqi economy unless Iraqi consensus economic legislation with controls to join the World Trade Organization (WTO).

Said Commission decision Mahma Khalil told the Kurdish news agency (Rn) that "Iraq if it wants to join the World Trade Organization (WTO) should be applied tariff law inactivated by the government."

Khalil said that the "tariff law that dish will eliminate processes financial and administrative corruption at border crossings and ports (...) there is the desire of the Government to enforce the law gradually over two years."

The team was Iraqi to join the World Trade Organization was established on 13 December / December 2004, and presented a memorandum to obtain membership of the organization on September 16 / September 2005, was adopted Iraq observers in January 24, 2007, and began meeting the first round of the Group work in 2007, followed by a second round of meetings in 2008, and then the third round by the end of 2009.

Iraq seeks to obtain permanent membership in the World Trade Organization (WTO) rather than an observer member, as is the case at the moment.
The World Trade Organization was founded in 1995 and includes 147 countries worldwide as permanent members.

The organization aims to create a world economic preserves the rights of the consumer and the product through an international system of laws by hiring full resources of the state and prevent the circulation of goods non-universal impulse.

 

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Kurdistan: political forces will hold a meeting if the return of Talabani

01/09/2012 11:32

Baghdad September 1 / September (Rn) - The Kurdistan Alliance bloc in the House of Representatives on Saturday for a meeting of the political powers will be held if the return of President Jalal Talabani from Germany where he is receiving treatment.

The National Alliance has announced earlier paper for reform in order to resolve the current political crisis in the country, after the efforts of front-confidence motion (the Kurdistan Alliance and the Iraqi coalition and the Sadrists), to withdraw confidence from the Prime Minister Nuri al-Maliki.

The deputy head of Muhsin al-Sadoun bloc, told the Kurdish news agency (Rn) that "after the return of President Jalal Talabani of travel therapy there will be a meeting of the political powers put it all Securities Reform."

Sadoun said that "the National Alliance did not deliver until now formally political blocs and reform paper prepared during the last period," noting that "the only thing on the political scene right now is waiting for the coming of Talabani."

He said, "The reform will be one of the paper within the Securities other political blocs and that will be addressed during the meeting of political forces."

Insiders say Prime Minister Nuri al-Maliki that the latter initiated a series of quick fixes, including re-former Iraqi army officers to the service and the formation of a committee to reconsider the law of accountability and justice and discuss the possibility of referring the names of candidates for security ministries to the House of Representatives.

The President of the House of Representatives Osama Najafi recently freeze questioning al-Maliki's decision by the political blocs because of the ongoing negotiations.

 

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Presidency of the parliament set Monday as the date to vote on the payment on credit law

 Saturday, 01 September

Twilight News / revealed Kurdistan Alliance, on Saturday, reducing the number of members of the Article 140 of the disputed areas in the Constitution of 38 to 17 members, headed by Kurdish.

The MP said the Kurdistan Alliance Hassan Jihad told the "Twilight News", that "the agreement was to reduce the number of members of the Article 140 of the 38 members to 17 members only," stressing that "This measure comes due to repeated cases of non-achievement of a quorum for the meetings of the Committee because of absent members. "

Jihad said that "the Commission and after a reduction of 8 members of the National Alliance and the six members of the Iraqi List and the three members of the Kurdistan Alliance," he said, adding that "the chairmanship of the Committee will be assigned to a member of the Kurdistan Alliance Muhsin al-Sadoun."

The Article 140 Committee was formed on the basis of the above-mentioned article in the Iraqi constitution and headed in the first stage the leader of the Iraqi Communist Party Raid Fahmi and then entrusted the task chaired by the Secretary General of the Badr Organization, Hadi al-Ameri.

Article on solving the problem of the disputed areas between the Kurdistan Region and the federal government in particular and the problems of other disputed areas between the various Iraqi provinces, through the mechanism begins to normalize the situation and pass conduct census and concludes with a referendum in those areas.

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A member of the Economic Committee: tariff law will do the beginning of the year 2013 after the availability of sophisticated electronic devices to check the goods at the border

 09/01/2012

Baghdad (news) .. Female Member of the Economic Committee MP / National Alliance / Amer Al-Fayez, that the tariff law will be implemented early next year, after bringing modern equipment to inspect goods and imported goods at border crossing points.
He said Fayez (of the Agency news) on Saturday: There are several technical reasons prevented the application of tariff law notably the lack of trained personnel and sophisticated equipment, explaining, that Iraq imported electronic devices developed to examine the goods and commodities imported and the process of training cadres working on these devices will be the activation of the Law tariffs at the beginning of next year. / end / 21. d. Q /

 

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