aggiedad77 » March 14th, 2015, 10:26 am
Saturday News Summaries and Commentaries
Unity among Iraqis most important victories
I have to give credit where credit is due....through all the various crisis' that Iraq has or is facing, the turmoil of the world economic systems....this man PM Abadi has stood tall and sure of not only himself, his government, but also the Iraqi people and he has insisted from the beginning that the winning combination for Iraq will first and foremost be an effort of unity amongst all Iraqis, not just a political bloc or religious group....but a UNITY of ALL of Iraq....he still today stands on that in the face of much adversity.
Rafidain Bank in the process of increasing the size of the foreign banking
Rafidain Bank is going to be using a strategy through open letters of credit, letters of guarantee, as well as investment and foreign remittance operations to increase the size of their foreign banking operations especially so with neighboring Arab countries...
This is in total support of the Iraqi economy and will lead to increased volumes of Arab deposits while ensuring that the bank maintains performance equal to other established world banks....
I believe too Family that with the volume of articles found on this subject today.....this is something that has already begun with the Rafidain Bank....not something they still intend to do....this is great news pointing towards strong economic reform, especially from within the banking sector of Iraq.
Municipalities coordinate with the World Bank to complete the payment on credit projects
The Minister of Municipalities is working in conjunction with the World Bank (Group) to get work underway to complete at least 13 projects that all have something to do with water....water treatment plants.....water networks.....water filtration plants....its all about water....clean water for the people to use in a humanitarian sort of way....something that the World Bank Group specializes in and enjoys partnering with such countries as Iraq where such humanitarian needs are identified....much of these efforts will be going towards newly liberated areas of Iraq.
Member of the parliamentary energy: government asked to wait a law of oil and gas to the presence of talks around
A member of the Parliamentary Committee on Energy is asking Parliament to wait in bringing the oil and gas law to the floor of Parliament...this request for such a delay appears to be coming from the GOI, not from Parliament and is centered around differences seen between political blocs that may hinder approval at this time....however the lack of an oil and gas law hinders much of the work needed to be accomplished between Iraq and the foreign oil companies who work on oil production today....it also slows up the process of sharing the wealth from the oil revenues with the Iraqi people...and at the same time the Oil Minister recently spoke about the fact that the lack of an oil and gas law is a big part of the current Iraqi crisis.
Parliament makes changes to the agenda of its meeting today to read the three bills
If Parliament made changes to the agenda for today's session it was not major changes....they were more subtle laws that apparently needed to be read or were perhaps more prepped and ready than what they originally had on the agenda....I do not see anything that would suggest an urgent need from their actions documented here today.
Parliamentary energy demanding the government to negotiate with foreign oil companies to modify the licensing contracts
The Energy Committee within Parliament is urging the government to negotiate with foreign oil companies regarding the modification of their contracts....former licensing efforts from 2009 and 2010 are creating obstacles for Iraq today with significantly lower oil prices....they are seeking to make new contracts with the companies that offer better incentives for them once oil prices start to rise and also offer help to Iraq while prices remain low.....the Oil Ministry says it is seeking to return the government's partnering share to the 20-25% range....the mention of launching the $12 billion dollar Treasury bond process was again brought up....but no indication of when it would start.
Parliamentary Finance: coming days will witness a decline in the dollar exchange rate
A member of the Finance Committee is still wanting to point the finger at the CBI for causing the USD rise against the IQD...saying this has to do with the CBI's efforts to put mechanisms in place that would stop money laundering and smuggling....what a fool...a blind one....that can't see or accept the fact that the efforts by his own committee in creating Article 50 and it's $75 million dollar per day cap on the CBI is the real culprit behind the USD rise over the IQD....but he can boast that "soon there will be a decline in the dollar exchange rate".....what boasting.
Kurdish MP: Masum to Leave Baghdad if Kurdistan Budget Isn’t Sent
One Kurdish member of Parliament is saying that the Iraqi government "should" pay the Kurds their portion of the budget....or "risk" having all Kurds withdraw from Baghdad, including President Masum.....I wonder what Masum thinks of this threat....because that is what it is....a threat....do it our way or we will go home....this even comes on the heels of a speech from Finance Minister Zebari, a Kurd himself, that reflects the desire of Baghdad to want to cough up the budget amount to the Kurds.....don't be fanning your own fire, your robes will catch on fire.....be careful of what you say while your mind is upset.
Parliament to raise its next Monday
Parliament's session ended early today and will be reconvened next Monday.....this comes after a verbal altercation between the Speaker Jubouri and a group of members of the Liberal bloc over who Jubouri may be selecting as VP of Commission services....apparently he may select a Kurd over someone from the Liberal bloc.....tempers flared as a result.
Association of Iraqi banks demanded the government and banks to encourage citizens to save money
The Association of Iraqi Banks is trying to get the government to encourage people to save their money....what money you ask.....good question....the association is suggesting that the government start paying citizens....novel concept....but then encourage the people to put their money in the banks and by doing this the banks would gain in favor with the citizens again who have lost faith in the safety of the banks from the past....but recent supportive efforts by the CBI has attempted to bolster banking safety across Iraq....and the law that will provide depositor guarantees will go a long way with this support....thus the call to encourage saving again....of course the banks see increased deposits as a healthy sign for them from a business stand point....thus able to make loans they might not otherwise been capable of handling.
Najib al-Abadi calls for the disbursement of salaries of employees of the Kurdistan region
At some point someone is going to have to blink....it is just plain unhealthy to not blink in such a long period of time.....someone needs to cry "uncle" and get on with the game plan....payments need to be made....oil needs to be flowed.....hands need to be played out for the good of all.....it is not a good thing for PM Abadi to be compared to the former government...but I can see that coming if some kind of change is not forthcoming....make it so.
D. Hussein Allawi *: A Vision for Energy in Iraq: 2015 and beyond **
Family I am purposefully jumping over this article....first it is fairly well written for understanding I believe...second it is very long and would take me a while to pick it apart.....study it and ask questions from it if you have any and lets work together as a team to provide answers.
Mosul residents prepare for battle
Mosul citizens who remain in the city can no longer leave....thanks to pressure from ISIS....they must face the fact that ISIS intends to use them as human shields in the battle they know is coming...meanwhile ISIS digs large trenches on the approaches to the city.....adding exposed explosives in the same areas and are erecting walls that will further hinder progress of those coming to liberate the city.....sounds like target practice time for the International Coalition fly-boys.....the A-Team cometh.....and they mean business....no doubt any battle for Mosul will prove to be bloody and sad for how the terrorists will undoubtedly choose to fight.
Iraqi parliament cancelled as tempers flare
OK, more details are emerging over the verbal altercations in Parliament today....it seems it stems from issues associated with the head of the Service and Construction Committee, which formerly was a Kurd....but is now being led by a State of Law coalition member of Parliament....meanwhile the Sadr faction feels they should be the ones in charge of the committee....as a result the session was ended.
Kurdistan: the oil of our production reached 450 000 barrels per day, and are committed to our agreement with Baghdad
According to Kurd records the oil exports from their region hit 450,000 barrels per day.....showing their commitment to Baghdad and they await the same commitment from Baghdad to the region by providing their rightful share of the budget.....but is this a one time spike in export rates or is this the overall average for January/February....or what....more details please.
Private / Territory Parliament approves controversial passages in the oil and gas revenues Fund
From the Kurdish Parliament they have approved controversial points of contention within the oil and gas revenues fund for the region.....what they approved though comes from the region's Council of Ministers not from the Supreme Council for Oil and Gas which is headed by the region's PM Barzani's office....differing factions....my question though is how does this agreement play in with potential agreements that were made with Baghdad in December and have been incorporated in the 2015 budget....if they don't match up....what success have they really made here.
Fayez: activation of non-oil sectors to be supportive of the economy is a matter of time
So it is just a matter of time before the world starts to see Iraq's activation of the non-oil sectors part in bolstering the economy and adding to the revenues of the country.....a matter of time and laws to be passed....things like the investment law....and others that will be required to assure any kind of positive response by these other sectors who desperately need to draw upon investment money in order to see activity kicked into high gear....it is not something they can go alone and be successful. Aloha Randy