Millionday News 9/23/13
millionday] here we go -- most of what we are going to be seeing economically is of course in the moves to get moving with contracts and setting up regulations etc to move to a market economy
[millionday] Said the Iraqi Institute for economic reform, Dr. Ahmed Al-Husseini, the importance of free zones in Iraq being a real environment attractive for foreign investment, Al-Hussaini said in a statement to (morning) that foreign investment in the industrial free zone in Basra that would increase State revenues and reducing dependence on oil resources of the country.
The Chancellor said that a study was submitted to the Council of Ministers for the purpose of annexation of part of the port of Faw to Basra's free zone to be the best free area at the level of regional States.
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[millionday] In the same context, the General Authority for free zones of the Ministry of finance signed a contract with the Iraqi company limited investment free zone in Nineveh province, said in a statement: that it entered into a contract with the Iraqi company limited for an investment project with a 6000 square meters, the project activity in general trading.
last month, the Authority signed a contract with two companies of the first and second local Emirati investment free zone incense Zubair.
[millionday] note -- signed contracts
[millionday] The first contract was signed with the firm's boss General Trading Co., a project covering an area of 9000 square meters business specializing in general trading, the second contract concluded with the company (ALE) and WAM area of 10000 square meters for an investment project in general trade free zone in Khor Al-Zubair, Basrah governorate.
The free zone in Nineveh and Khor Al-Zubair are witnessing a remarkable development as a result of popular local investment companies and regional and global investment.
millionday] this is setting up who-where-and what with the free zones --- mapping of all zones smile setting up for trade brb with more
[jimplants] millionday any news as to when kuwait will be paid off? thanks
[millionday] they have paid two billion and have met on the rest with no announcement -- they are setting up trade and activating contracts -- i dont see a problem will bring anything more i find
[millionday] this is more on the economy
[jimplants] me neither just looking for chapt 8
[millionday] the reason that this is important is because a country can not rely on one resource and also the wto expects multiple resources as well and it is needed for jobs and a healthy economy always
wmawhite] jimplants .......Chaper 8??
[millionday] i am here hun the imf and world mank is coming to the banking convention you mean article 8 right? we have 4 days to its beginning smile let me show you this so the news makes sense
[jimplants] yep my mistake
[Flygirl02] I haven't seen any announcements about the conference??
[millionday] this is about diversifying for the economy and it is very much needed
[millionday] no problem no one ever knows if im here or gone -- smile
[wilbur48] IMF only updates their site once a month so they could have an agreement for the article 8 without us knowing
[millionday] Flygirl02 banking conference on the 28th + with the world
[millionday] Economists pointed to a growing demand for crude oil, especially after the economic crisis that swept the world in 2008, including the East Asian countries, India and China, which have become important markets for Iraqi oil. Beautiful name Economist Antoine said that oil prices would fall below $ 100 per barrel, India began to rely on Iraqi oil which fills half its need at least $ 100.
Antoine said in a statement to (morning): "a barrel of Iraqi oil between 85-90 dollars in budgeting is reasonable, as there is a financial surplus of the public budgets, as well as increasing the amount of oil production per year, despite a complaint the oil companies regarding the energy store of the oil Ministry, which has to be raised to 12 million barrels.
[Flygirl02] Ok, just surprised not many articles about it.
[millionday] this gets much better sounds boring at first smile
[millionday] Expert pointed out that Iraq submit to build reservoirs in South Korea for four million barrels in reserve in case of any crisis or economic problems or sabotage or cut through the Strait of Hormuz, because Iraq's budget relies heavily on oil, that 95 percent of the budget depends on oil revenue, so the flow of this production very essential and must be guaranteed, he said.
[millionday] from oil>>>>>>>>>>>Oil Minister Abdul Kareem luaibi said on the sidelines of the fifth round-table meeting of oil producers and consumers in Asia held in Seoul earlier this month, Iraq's intention to store 4 million barrels of crude oil in South Korea.
Antoine noted that the aim of oil rents is to harness the benefits of a diversified economy industrial, agricultural and tourist, that reliance on one source remains in constant danger, adding that the country faced a big problem is the phenomenon of unemployment, indicating that the oil sector is not more than 2 per cent of the labour force, agricultural and industrial sectors, tourism, you need large numbers of workers, so that imports substitute for many foreign imports and revive the national economy and the risks for the economy and budgets.
[millionday] the problem if it remained >>>>>>>>>>>>> And the expert's opinion that the Iraqi budget living two crises, the first operational, constitute more than 70 percent of the public budget, and the second depend on oil rents, noting that Iraq was over 10 years ago, despite growing imports from the diversification of the economy, so we must think of other ways of financing the budget and raise the GDP by other sectors, where imports of industry at least 15-20 percent, and agriculture exceed 25 percent, tourism is at least 10 percent.
millionday] note -- which of course is on the way with the opening of the ports and moving to a market economy
[millionday] new agreements
[millionday] In turn, the spokesman Assem Jihad, the oil Ministry (morning) that Iraq has plans to hold conventions to store crude oil in several Asian countries including India, China and Japan. As oil prices on the world market with over $ 110 a barrel, the Government expects that these prices will stay above $ 100 for the medium-term future.
He said the Secretary General of the Council of Ministers on relations in a press statement: "the Iraqi Government draws its information on oil prices of OPEC's expectations and visions of the near and medium term," it (the Organization) based on their expectations on the principle of supply and demand in world markets, oil prices may go up or down but it will maintain its survival above the $ 100 per barrel for the medium.
[millionday] The Economist said Falah Hassan Alwan, in a press statement that global oil prices would impact on the federal budget of Iraq and therefore it will raise the level of investment projects and service to the country, calling on the authorities to create a sovereign Fund of surplus funds derived from petroleum imports to finance many development projects and investments that fail to budget for funding.
[millionday] they should very much do just that -- why that is not the plan i cant tell you also the increase
[millionday] The oil exports have surged since early August some 220,000 barrels per day compared to last July as a result of increased flows from the southern ports, after allocation of the Iraqi oil marketing company SOMO additional quantities of crude for some buyers, according to trade sources.
[millionday] the gdp will raise with the new markets --- this is exciting brb with more
millionday] more prepping >>>>>>>>>>>>>>>>.. Called on Iraq, on Monday, Sudan to the development of economic relations between the two countries, while urging the Sudanese companies to enter the Iraqi market investments, Khartoum expressed its readiness to assist Iraq in all aspects of the economy.
He said Iraqi Planning Minister Ali Shukri during a press conference with the Sudanese ambassador in Iraq Khalaf Allah Mustafa in the ministry building in Baghdad and attended (range Press), "The whole of our meeting focused on the joints of the task on the economic side and invited the ambassador to if there is support for economic relations broader subject of exchange commercial.
" Shukri added that "the two sides in order to strengthen the relationship between the two countries to serve their interests and an agreement on steps to move these discussions and deliberations to fruition."
[millionday] Shukri confirmed that "Iraq and Sudan also agreed to strengthen these relations through the entry Sudanese investment companies to the Iraqi market and raise the level of trade between the two countries."
He thanks "was emphasized on the Sudanese companies entering the Iraqi market to have a greater role in supporting the Iraqi economy, in all respects, especially in trade and investment.
The Iraqi Minister of Planning that "Iraq today works to the principle of balanced economic relations to all parties with priority given to countries supporting Iraq's position in the primary fora."
For his part, the Sudanese ambassador in Iraq Khalaf Allah Mustafa on the sidelines of the conference that he "discussed with the Iraqi side of the best ways to develop relations between the two countries and development in the field of economy."
millionday] now check this out finally something that is so positive outside of ourselves but so great for them and of course positive for us too
[millionday] Prime Minister Nouri al-Maliki launched the national initiative for housing that will continue in all provinces after the reality of housing the needy to be miserable in a country like Iraq, criticizing the officials in the housing sector for indifference to the suffering of the people in this area, called Al-Maliki in a speech at the ceremony of the first batch of bonds between plots in the Rasheed district of Baghdad Monday to join all efforts to provide adequate housing for citizens, especially the poor and needy.
"said hurts us too in a country like Iraq This level of accommodation, and hurts us more when we see enthusiastic officials for the distribution of land and homes for the needy and the poor.
[millionday] Maliki expressed surprise at the official indifference to the need and deficiency of the citizen housing, adding: "we will begin to distribute plots of land in Baghdad and other governorates in order to secure adequate housing for the poor and this is the beginning of the road», revealed the formation of committees in all provinces the sort and distribute land among citizens to resolve the worsening housing crisis, stressing each land distribution among the needy for the safe housing.
Al-Maliki noted that the process of getting approvals to build housing units distributed among the needy and those who were forced by circumstances to live in these houses, entered the corridors of political and electoral issues bids and competitive pay.
[millionday] The Prime Minister called for "all those responsible not to distinguish between Iraqi terrorism today does not differentiate between Sunni or Shiite, and the component to another and we must oppose the yellow wind fed by advocates of sedition and sectarianism to fortify our country and protect our security and service of the Iraqi people, calling on all officials and citizens to intimacy and cohesion to oppose terrorist operations that led advocates of sectarianism and discrimination.
][millionday] i have to say this really shows a new kind of respect for maliki and his decision here -- loved this of course with the contracts internationally and the funds needed to operate for the benefits from the government this shows huge progress in the distribution side of the budget brb with more
PART 2 CONTINUED