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Millionday News 9/16/13
millionday] ok here we go --- With near the end of the current legislative session , called for parliamentarians and economists to approve the draft law of oil and gas , as an organizer and founder of the oil policy transparent and deal properly with companies investing in this area , it also opens up broad prospects for activating the service sectors that contribute to the reconstruction of the country's infrastructure .
Member of the Commission on oil and energy parliamentary MP Furat al-Shara said (morning) : "It is necessary to proceed with this law in the rest of the age of the current legislative session ," urging lawmakers to move quickly in order to pass.
[millionday] He believed al-Shara said the law contributes to a large extent in the increase in production , which purports to Iraq to achieve, adding that he found the oil policy is clear and transparent and framed the interaction between local and central governments , as established to deal properly between companies invested Iraqi and foreign giant among oil firms .
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And between a member of the Committee that the law has the feasibility of large economic and other moral, economic ones come indirectly by attracting oil companies invested and clear policy that makes the oil firms competitive for the advancement of their betterment and the performance of its role , as well as moral which show the nature of the deal and deal and cut the road either ways financial and administrative corruption .
[millionday] so this goes along with the needs to move forward -- they are demanding that the oil and gas go through right away -- the report is large and talks about the benefits which we all know already so let s move on to something else brb with more
[millionday] this is ready for vote and will go through this week
[millionday] Revealed the Economic Commission parliamentary orientation of the vote on the draft law the First Amendment to the Law on the Protection Iraqi products next week. Committee member Rep. Nora Bijari said (morning) : "
It is scheduled to include the bill on the agenda next week , after the completion of elections province Kurdistan. " explained Bijari that" its secured some of the proposals in the new law has emerged final draft of the law some time ago " ,
the memory of that law is important, as it read in two readings of the first and second. as the Committee considered that this law has returns positive per capita income of Iraq and thus on community
[millionday] , which contribute to reviving the Iraqi economy. indicated that the Article ( 2) of the Law on the Protection Iraqi products No. (11) for the year 2010 aims to achieve protection from the effects of harmful practices in international trade with Iraq and address the damage resulting therefrom, and to provide an environment for building national industry able to compete in local and international markets .
[millionday] so this is the law to protect and monitor products in the move to global trade ] very nice and nice timing too smile brb with more
[millionday] here goes the move to go forward
[millionday] Counting economic expert d . Akram Mohamed Hassan banking and financial sector one of the main factors of the transition from a centralized economy to a market economy required to lift the restrictions that his movement referring to the experiences of Eastern European countries in this field. Hassan said "morning" that the economic reform process starting from the banking reform as a lever basic walking the economy ,
pointing out that Article 28 of the Banking Act restricted banks from exercising activities that are at the heart of their work and investment-related as well as prevent them doing any activity that is not listed in Article 27 furthest taking approval from the Central Bank .
He noted that the increase in commercial banks to their capital to 250 billion dinars not enough to hold economic reform unless it addressed paragraph 27, which reads " attend on banks to exercise any activity not mentioned in this article ," What made banks restricted in the exercise of a particular aspect of the banking business and lack of exercise side II.
[millionday] the need to deal with it now
[millionday] He said it's also managed the decisions away from risk , pointing out that the core of the work of the banking sector risk can not be reduced to zero if there mentality insists on reducing the risks Vlazttia do their part attributing this that during the lending process or financing of any project or business deal must attendant risks as exchange rate risk , interest rate and repayment and liquidity Most of them think only in so returns are going to be trading activities or to engage in currency auctions and issues away from the investment .
[millionday] all changes need to be understood within the banks for domestic and commercial
[millionday] He noted that the market system does not mean only the freedom of trade and lack of controls كمركية and free transfer of capital , but could be in the form of state capitalism any subscription state with the private sector develop projects to contribute to development and needs to be a functional efficiently moving the law and within the institutional frameworks and clear and strong state even play the role of regulator of the economy in general and economic reform , however, of a state .
[millionday] there are a lot of responsibility on the backs of banking -- it has to be understood and also followed through
[millionday] According Hassan said that this does not contradict with the private sector , construction and support for that weak role of the state to do its support through large-scale projects and development
Each country applies the market system in accordance with local conditions , which attributed When enacted law reform project should be set visions and goals clear and there is the will and determination to abide by and follow-up .
[millionday] this is talking about the move to a market economy -- it has to be parallel with all other countries that are within a market economy the laws have to meet compliance to work
[millionday] He explained that economic reform can not be guaranteed success legislation because there are hundreds of laws , but still faces the practice of customs and traditions and frames a social law in many cases, the law must be Musdrale and controls for the conduct of Jhazativ for the state to play a huge role in economic reform through Aeltsiq between ministries and this requires clear mechanisms for collective decision - making and accelerate the process of economic reform.
[millionday] this would not be being discussed if they are not moving to economic reform -- this lays out the upcoming event and what must happen brb with more smile -- big one
[millionday] Police announced the U.S. on Monday, three gunmen attacked a building belonging to the U.S. Navy is the largest among the five headquarters in Washington, and varied statements about victims of abuse , which is the first of its kind .
Reported by some media fall 4 dead as a result coordinated attack , and wounding more than 10 others , while reported Massadrajry fall of more than 10 dead and the same number of people . , police said in a statement, she was able to filter one of the attackers ,
while barricaded the other two within the site « Navy Yard » in Washington, which is the headquarters of the commander of marine systems in the U.S. Navy , in charge of the design and construction of ships and submarines .
[millionday] He said a police spokesman , the attackers fired at the outset fire in front of the headquarters , which led to the wounding 8 civilians , and then entered the building, which heavily guarded , which employs around 3,000 people , while barricaded them in a room and managed to hit an officer when he approached the last of it.
The senior official from inside the building , the occurrence of many injuries, as reported leadership of the U.S. Navy, via its front page on the site «twitter» , the fall of the 10 wounded , at least , some of them seriously .
millionday] According to police spokesman, the U.S. capital , Chris Kelly, the suspect man Black, shaved head, wearing a pair of black jeans , T-shirt black also
. U.S. officials said he was briefed President Barack Obama « moment by moment » on the developments of the attack was not clear immediately whether it was linked to terrorism charges. flow of hundreds of police officers to the place , while the authorities ordered the halt aircraft take off from Reagan international airport in Washington , before air traffic returned it to her work after a short period .
millionday] i wanted to bring this is case any of you didnt see it
[djayboat] kinda helps how their news stories get translated into English
[millionday] The Ministry of Planning and Development Cooperation on Monday, the National Development Plan for the years (2013 2017) , which is expected to reach total revenue of where to 812 trillion dinars , 768 trillion dinars, of which derived from oil.
With concentrated investments in the plan on the industrial sector increased by 38 percent , the development of economic activities of non-oil where the annual growth rate of 7.5 percent , while maintaining inflation rates.
Deputy Prime Minister for Energy Affairs Hussain al-Shahristani , said in his speech ceremony held by the ministry on the occasion of the launch of the plan and attended the (morning) : The low profile government headed towards the plans of the periods long time to lay the foundations of development a real policy of the country ,
[millionday] djayboat i like that they care enough to print what happens to us -- i wish we did the same
[millionday] especially after the success of the oil licensing round in attracting major international oil companies to work in Iraq . , adding that the plan focused on the field of Industry and Energy , which was his share of the distribution of investments 38.2 percent , while the buildings sector and services were accounted for 28.6 percent , and agriculture 13.4 percent , and education 10.3 percent , and 9.5 for transport and communications.
[millionday] note -- remember this is five year plan
[millionday] For his part, Undersecretary of the Ministry of Planning and Development Cooperation Mehdi Keywords that « previous plan achieved successes acceptable and concrete in the exchange rate of the Iraqi dinar in the field of education and in the health field » , adding that « the new plan will be complementary to the previous one and will reduce the gap between rural and urban areas and there will be the role of local governments in the implementation of the plan , as well as give the role of the private sector .
[millionday] The Exchange Rate of Foreign Currency in Economic Feasibility Studies Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.
Estimate the shadow price of foreign currency: 1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.
The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.
PART 2 CONTINUED
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