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Thursday, March 29, 2007

Iraq Reconstruction News 28 December 2006

Iraq Reconstruction News
28 December 2006


1. State Department Iraq Weekly Status Report of 20 December 2006: http://www.state.gov/documents/organization/78277.pdf

2. Iraq constitution reform vital to oil companies,despite oil law. WASHINGTON (MarketWatch) -- Major international oil companies are unlikely to begin investing in Iraq for at least another year even if a new hydrocarbon law is passed in January, politicians and analysts warn. http://www.marketwatch.com/news/story/iraq-constitution-reform-vital-oil/story.aspx?guid=%7B5D10000A-6714-4B00-A5B4-856F6D156450%7D

3. A Law for Investment in Iraq. Al-Hayat - 19/12/06. The Iraqi Presidency Council issued Investment Law No. 13 of 2006, containing provisions for regulation, rights and encouragement for investors, encompassing Iraqis and non-Iraqis, designed for the phases of establishment and operation. The law aims to attract and encourage investment and the transfer of modern technologies to the country; to encourage both the Iraqi private sector and foreign investment in the country; to protect the property rights of investors and their profits, and the expansion of exports and enhancing the competitive edge at home and abroad. http://english.daralhayat.com/business/12-2006/Article-20061219-9ab6dd6e-c0a8-10ed-01e8-839c0025c859/story.html

4. Fortune flows to Kurdistan. Opportunities await investors in Iraq's sole region of promise, but they would be wise to proceed with caution. http://www.zawya.com/Story.cfm/sidZAWYA20061212072927/SecCountries/pagIraq/chnIraq%20Analysis/objA68CBE20-8400-11D5-867D00D0B74A0D7C/

5. Quantities of Iranian oil derivatives arrive to northern Iraq. An official in Kurdistan region announced, on Thursday, the arrival of a quantity of oil derivatives from Iran to Sulaymaniyah, on Wednesday, as a first batch of an agreement signed by the governorate with the Iranian authorities. http://www.iraqdirectory.com/DisplayNews.aspx?id=2789

6. 47% of Iraqis threatened in their food security. A study on food security and vulnerable groups in Iraq, done by the Office of the World Food Program of the United Nations in Baghdad, in coordination with the Central Agency for Statistics and Information Technology in the Ministry of Planning and Development Cooperation of Iraq, revealed that over four million people are alimentary insecure, reflecting an increase of 11% from 2003.
http://www.iraqdirectory.com/DisplayNews.aspx?id=2790

7. Japan business delegation in Kurdish north. A Japanese business delegation has arrived in the Kurdish city of Sulaimaniya to discuss what Japan can do to reconstruct the Kurdish region. The delegation has met Sulaimaniya’s governor, Dana Majeed who asked the members to expand Japanese aid to the region. http://www.azzaman.com/english/index.asp?fname=news\2006-12-18\kurd1.htm

8. Iraqi finance staff jailed for corruption. Five senior Iraqi Ministry of Finance officials were sentenced in Baghdad to three years in prison for corruption and spending unauthorized funds. Without naming the defendants, Kuwait's KUNA news agency said Wednesday the undersecretary of the ministry of Finance and four others were sentenced by the Central Criminal Court. http://www.washtimes.com/upi/20061220-105926-9827r.htm

9. Mahmudiyah takes pride in market renovation. Baghdad, Iraq— One of the top priorities for the mayor of Mahmudiyah is rebuilding his city’s downtown market. “It’s the heart of our community,” Muayid Fadhil said. “We are going to build a new market as a memorial to those innocent men, women and children who have been killed there. It will tell the insurgents we will never give up, they cannot stop us.” http://www.grd.usace.army.mil/news/releases/NR06-12-20-2.html

10. Iraq renews airport security contract with Dubai firm. Dubai: The Iraqi Ministry of Transportation has awarded a 12 month contract with a six month option to Dubai-based Global Strategies Group to provide all aviation security services at Baghdad International Airport (BIA), the company said in a statement obtained by Gulf News. http://archive.gulfnews.com/business/Aviation/10091153.html

11. 41 billion dollars, the volume of the budget for 2007. Iraqi Minister of Finance, Baqer Jabr Al-Zubaydi, announced that "No change in the 2007 budget, which is fixed at 41 billion dollars", but he indicated "transfers and distributions will be made so that the new budget will cover all sectors of the Iraqi people to avoid the mistakes that happened in last year's budget, and the confusion that happened in the implementation of investment projects". http://www.iraqdirectory.com/DisplayNews.aspx?id=2806

12. DNO Ups Working Interest in Kurdistan PSA. DNO ASA said that it has reached an agreement with the Kurdistan Regional Government (KRG) in Northern Iraq that will give the company responsibility for 100% of the funding obligations of the production sharing agreements (PSAs). In exchange, DNO will pick up an additional 15% working interest. The deal has been finalized and signed. http://www.rigzone.com/news/article.asp?a_id=39552

13. Iraqi officials reached a tentative agreement on the oil law. Iraq is in great need for foreign investment to revive its shattered economy, which relies heavily on revenues from oil exports, especially that the country has the third largest oil reserves in the world. Sources close to the negotiations said that Prime Minister Nuri al-Maliki, "agreed on" the draft law which is awaiting the political approval and the adoption of the Cabinet. http://www.edinarfinancial.net/news/?quer=&nm=&ny=&nn=471

14. Iraqi officials agree on an oil law. (MENAFN) Sources said that an oil law was agreed upon by Iraqi officials that gives the regions the right to negotiate contracts for oil fields with foreign investors, however the final decision will be made by the central government, Iraq Directory said. http://www.menafn.com/qn_news_story_s.asp?StoryId=1093137417

15. Bush ponders £10bn New Deal to create jobs in Iraq. THE White House is expected to announce a reconstruction package for Iraq as part of a plan for a “surge” of up to 30,000 troops into Baghdad when President George W Bush unveils America’s new strategy next month. Bush is being urged to give up to $10 billion (£5.1 billion) to Iraq as part of a “New Deal” that would create work for unemployed Iraqis, following the model of President Franklin D Roosevelt during the 1930s depression.
http://www.timesonline.co.uk/article/0,,2089-2517659,00.html
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