" The Dinar Daily ", Sunday, 8 June 2014
Page 1 of 5 123 ... LastLast
Results 1 to 10 of 45

Thread: " The Dinar Daily ", Sunday, 8 June 2014

  1. #1

    " The Dinar Daily ", Sunday, 8 June 2014

    It is EVICT MALIKI DAY + THIRTY - NINE ( 39 ) or " E - M DAY + 39 "


    " ..... despite the superiority of Maliki’s electoral coalition, the competing Shiite forces, the Kurds and the Sunnis, are together able to form a comfortable majority to prevent Maliki from remaining in office. "...................... Maliki likely fears that if he rushes to do business with parties outside the Shiite alliance, his Shiite rivals would do the same and that they may have a better chance to win over the Kurdish and Sunni forces, because there is a general consensus among them to not keep Maliki in power.

    At the same time, the rest of the Shiite groups fear that this consensus is not solid enough to withstand discussing the details, and that going alone to the Kurdish and Sunni forces may put them in a weak bargaining position and make them appear responsible for breaking Shiite unity.

    An important factor here are the choices that the Sunni and Kurdish forces will make. If the Sunnis and Kurds rush to form ethnic and sectarian alliances, then the Shiite alliance may do the same.

    Some are proposing scenarios such as replacing Maliki with another figure from the State of Law Coalition as a compromise to ensure the continuation of the Shiite alliance. Yet, such a solution may come at a later stage, after the favored options by most parties have been exhausted. What is certain now is that a harsh negotiating season will begin as the conflict moves from its electoral aspect into the closed negotiating rooms and deals among the elite. - from al Monitor

    Generally, all are " waiting for the National Alliance to name its candidate, formally , to start negotiate with him. "

    To Wit :

    MP: The National Alliance has not raised a figure for the post of head the next government so far

    07/06/2014 10:03:00

    BAGHDAD / NINA / The MP, of the Ahrar bloc, Mushriq Naji confirmed that the National Alliance has not been raised a figure for the post of prime minister so far.

    He said in a statement to the National Iraqi News Agency / NINA / "The National Alliance demanded the State of Law Coalition to submit another alternative for prime minister post," noting that "the candidate for the post of head of government that will emerge from the National Alliance, will be discussed within the National Alliance and when agreed, will be announced to the other blocs.

    Naji stressed the keenness of the Ahrar and the citizen blocs on the unity of the National Alliance, and to be the prime minister from it, but according to the frameworks and set by the National Alliance, and its new bylaw."



    Citizen: State law does not have only 103 seats and other allegations are incorrect

    Sat Jun 07 2014 22:49 | (Voice of Iraq)

    Sumerian News / Baghdad

    Revealed the citizen coalition, on Saturday that a coalition of state law has only 103 parliamentary seats, saying that talking about the collection of 175 seats "allegations" incorrect.

    A spokesman for the Coalition eloquent Abu tirelessly in an interview for the program "mysteries declared" that aired "Cuts", "The announcement of a coalition of law for possession of 175 parliamentary seats is not only untrue, and we challenge the coalition to announce the names of the characters, or blocks are joined him." .

    He added that Abu tirelessly "State of Law coalition with the blocks that have joined him not only has 103 seats," and accused "a coalition of state law by multiplying the National Alliance and the rag across some of his moves."

    Prime Minister Nuri al-Maliki said, in (June 2, 2014), the majority needed to form the next government are "realized," he said, adding that there are 175 votes "foolproof" and more will be included.

    He announced a coalition of state law, in (30 May 2014), the number of seats that have averaged 130 seats after the accession of a number of blocks to it, with the detection of the presence of dialogues with coalitions Najafi and Allawi and al-Mutlaq.

    It is noteworthy that a number of political blocs, recently announced its accession to the State of Law coalition led by al-Maliki, which block the competencies and the masses and mass solidarity and mass loyalty to Iraq and coalitions of Nineveh and Salahuddin, bringing the number of seats the coalition 99 seats, while the source revealed that the number of seats a state law increased to 112 seats.



    National Coalition questioned b (175) and al-Maliki is ready to announce its candidate for prime minister

    Sat Jun 07 2014 19:47 | (Voice of Iraq)

    Twilight News

    Questioned the National Coalition on Saturday, a coalition of state law, obtaining 175 seats to form the next government, among it's ready to announce its candidate for prime minister.

    A member of the coalition, Sabah al-Saadi's "Twilight News", that "the coalition of state law that goes into the formation of the government if he has 175 seats and Mubarak it. But I doubt it, of course."

    The leader of the State of Law coalition of Prime Minister Nuri al-Maliki said in a televised statement that he has 175 seats, which idolizes to form a government.

    And between al-Saadi said that "the National Coalition will present its candidate to become prime minister upon completion of the rules of procedure."

    "The National Coalition has the admissibility of the blocks with the rest of what it takes to play an important role within the coalition and outside to ensure the survival of Iraq together and get it out of crises."

    He urged the National Coalition, in a statement issued earlier in the coalition of state law implicitly to withdraw its candidate Nuri al-Maliki to head the next government, saying it was before the end of the National Alliance, which includes coalitions under the umbrella of the drafting of the rules of procedure.



    The political body of the National Alliance meets tomorrow

    08/06/2014 14:45:00

    BAGHDAD / NINA / The spokesman of the National Reform coalition, Ahmed Gamal declared that a meeting for the Political body of the National Alliance will be held on Monday.

    He said in a statement to the National Iraqi News Agency / NINA / "The National Alliance will brief on the report of the eight Committee in charge of putting the bylaw of the alliance and the mechanics of its development."

    He added, "The meeting will also discuss the latest political developments in the country."

    Last edited by chattels; 06-08-2014 at 12:35 PM.

  2. #2

    61015 Allawi: If Maliki stays for a third term means that ISIS would control the Sunn

    Allawi: If Maliki stays for a third term means that ISIS would control the Sunni cities

    08/06/2014 09:04:00

    BAGHDAD / NINA / The independent MP, Hassan Al-Allawi said that "if the current Prime Minister Nuri al-Maliki stays for a third term that means the Islamic State of Iraq and the Levant (ISIS) will control the Sunni cities and Baghdad will be vulnerable to continuing attacks." Noting that "his words does not mean that he has personal position on Maliki at all because he has no enmity with him, but he speaks about the political situation we are living. "

    He told the National Iraqi News Agency / NINA / "The continuity of security breaches like this with the presence of this government and its president will increase," noting that "these explanations are interpretations of the opposition against him."

    He added that "in all conditions, any head of government could not work alone without solidarity from the Cabinet. And if Maliki or his opponents came to power there must be balanced and national corporate (Sunni-Shiite- Kurdish-Arab) with modern liberal trend."

    About what is currently happening from security breaches in several cities, He said that "what is happening in the cities of terrorist and military operations resulted from the lack of development of solutions to problems."

    It is mentioned that Anbar, Salahuddin and Nineveh provinces are seeing military operations against the terrorists of ISIS, which led to the killing and wounding of hundreds of civilians and displaced thousands of others to safer areas.

    The capital witnesses, almost daily, terrorist attacks by car bombs and improvised explosive devices and adhesives led to the killing and wounding many civilians.



    Ali Hatem al-Suleiman warns of incinerator in Anbar, in the event of non-replacement of al-Maliki

    Sat Jun 07 2014 22:33 | (Voice of Iraq)

    Anbar / Voices of Iraq

    Student Ali Hatem al-Suleiman, head of the Council of aspiring revolutionaries tribes in Anbar, the leaders of the political blocs in Iraq urgency to replace Prime Minister Nuri al-Maliki, and will be the only Anbar "holocaust."
    Sulaiman said in a press statement, said that "the problem of Anbar became futile, and the leaders of the political blocs of urgency to replace al-Maliki, and the only Holocaust Anbar will be returned if al-Maliki back to power."
    "The clans will not reach an understanding with al-Maliki is not withdrawn troops from the province, and had previously advised the elders by politicians that Maliki is not honest with the people of Anbar in ending the crisis."
    He Sulaiman said: "al-Maliki until today did not understand the scale of destruction by Iraq, which has become in general and al-Anbar province in particular."
    Sulaiman said, "We will not recognize the National Conference called for by al-Maliki, and more of an initiative we have made ​​but did not respond," pointing out that "the problem will not end unless Anbar withdraw troops from them."

    Last edited by chattels; 06-08-2014 at 08:16 AM.

  3. #3

    61016 Kurdish lawmaker calls for Kurdish blocs not to negotiate with al-Maliki

    Kurdish lawmaker calls for Kurdish blocs not to negotiate with al-Maliki

    Sat Jun 07 2014 23:43 | (Voice of Iraq)

    (special) ... called on Deputy for mass change in the House of Representatives, Kurdish blocs not to negotiate with Prime Minister Nuri al-Maliki, at the same time stressing the need not to negotiate any Kurdish bloc individually with the political blocs in Baghdad on forming the next government.

    The MP said the gentle Mustafa in a statement to the Central Council of the Patriotic Union of Kurdistan (PUKcc.net), on Saturday, June 7, 2014, that the Kurdish blocs should not negotiate with the leader of a coalition of state law, Nuri al-Maliki on the formation of the government and the outstanding issues between Erbil and Baghdad, noting that This is due to two reasons, the need to make a change in Iraq, because people change in the principle of democratic systems is very important.
    He added that the MP Mustafa The second reason is that Maliki cut the salaries of the staff of the Kurdistan region, he said, it is a shame that the Kurdish blocs negotiate with him, as he put it.
    Mustafa stressed the need to unify the Kurdish position in the negotiations to form a government, stressing that any party negotiate individually Kurdish is considered a violation of the red line.


    *** Apparently the publicized agreement amongst the Kurds to negotiate with one voice requires additional exhortation from the ranks ***

  4. #4

    61017 KDP: oil export step for economic independence and will not put red lines on an

    KDP: oil export step for economic independence and will not put red lines on any political party

    Sat Jun 07 2014 19:39 | (Voice of Iraq)

    long-Presse / Erbil

    New KDP, led by regional president Massoud Barzani, on Saturday, stressed that the export of oil "constitutional right" to the region "will not retreat" with him even if it has been resolved outstanding issues with Baghdad, as a step on the road to "economic independence," noting that among the region "main principles" form the basis for negotiations with other political parties on forming a new federal government, and that it "will not set" red lines generally any of the parties in Iraq.

    The official said the Office of External Relations of the Kurdistan Democratic Party (KDP), dominated Hawrami, said in an interview to the (long-Presse), "The export of oil is the right of the region, according to Article 112 of the Iraqi Constitution," adding that "exported oil extracted by the Government Kurdistan region after 2005. "

    Hawrami added, that "the Kurdistan region will continue to export its oil to the world, even if the solution to the outstanding problems with Baghdad will not back down on this right again," stressing that "the region is seeking through this trend toward economic independence."

    The tanker carrying the first shipment of oil province still roam the marine waters in search of buyers of oil, after the rejection of Morocco and Italy buy it.

    The Kurdistan Regional Government announced that, in (24 May 2014), for the first shipment of crude oil through the Turkish port of Ceyhan, called the Oil Marketing Company of Iraq (SOMO), to monitor the sale of the oil region, while showed that the revenues that oil will be added to calculate the region, confirmed the development of five percent of them to compensate for the International Court imposed on Iraq.

    It also confirmed the Kurdistan Regional Government, in (the 26 of May last), the right to "constitutional" to take advantage of its oil wealth, while showed she had tried with Baghdad frequently to reach agreement in the interest of the Iraqi people and end the differences that exist, as well as America did, but the government Iraqi abt only be "Her control and central", called on the federal government to "desist from its policy toward the region erroneous" and solve the problems through dialogue with him, and knows very well that he "will not accept to be under the mercy and is subject to the wrong policies."

    And on the third term of the current Prime Minister Nuri al-Maliki, said an official in the Foreign Relations of KDP, that "the party waits for the announcement of the official results of the elections, and the position of the National Alliance, and whether he will run for the office of al-Maliki."

    He Hawrami, that "when the Kurdistan region of a set of principles Chairperson form the basis for negotiations with other political parties, as a partnership of the Kurds in Iraq, and file oil and gas, and the application of constitutional article 140, and the Peshmerga forces, and census and other," noting that "the delegation of the Kurdish political forces who will negotiate on the formation of the new Federal Government, will not put red lines generally any of the parties in Iraq. "

    The Committee of the Kurdish problem to negotiate with the parties winning in the Iraqi elections, announced last Thursday, (the fifth of June 2014 Current), about held its first meeting to discuss the road map to negotiate with Iraqi factions to form the next government, saying she was going to Baghdad "position and one agreed" , and they will be presented a working paper on the leaders of the Kurdish parties for approval and work under them.

    The head of the Kurdistan region, Massoud Barzani, issued last Tuesday, (the third of June), a formal decision to form a committee representing the region in the negotiations to form the federal government coming, comprising both example, has typically Nuri Shaways, for the Kurdistan Democratic Party, Faryad Roandzi, Union PUK, Jalal essence, for the MDC, Nuri Mohammed Adel, for the Kurdistan Islamic Union, Yassin Hassan Mohammed, from the Kurdistan Islamic Group, and Kawa Mahmoud Shaker, a list of the National Alliance of Kurdistan.


  5. #5

    61018 Hakim: Words of condemnation are no longer sufficient. A new security strategy

    Hakim: Words of condemnation are no longer sufficient. A new security strategy should be adapted

    08/06/2014 10:48:00

    BAGHDAD / NINA / The head of the Islamic Supreme Council of Iraq, Ammar al-Hakim confirmed that "The words of condemnation that we release are no longer sufficient to express the depth of the wound, which groaning from our people and the blood being shed in this barbarism and brutality way by terrorists and ISIS.

    Hakim said in his social network account / Facebook /: In the time that we salute our armed forces, we recall, what we have said previously, the need to work in a new security strategy and new approach, which the citizen could move and live in peace and harmony.


  6. #6

    1019 Iraq’s Remarkable Stock Exchange

    sczin11: Iraq stock exchange- booming

    Iraq’s Remarkable Stock Exchange

    Posted on 07 June 2014. Tags: Baghdad, Iraq, Iraqi Stock Exchange, shares, stock market
    By John Lee.

    Arabian Business
    has published a revealing interview withIraqi Stock Exchange (ISX) chief Taha Abdulsalam al-Rubaye, outlining the incredible challenges the stock exchange has faced since its creation from the old “Baghdad stock exchange” under Iraq’s sanctions hit economy of the 1990s.

    Despite terrifying security challenges, the ISX success has been monumental, but al-Rubaye notes the difficulties that still remain in promoting economic diversification and cutting red tape in Iraq.

    Incredibly, the article reports how last year, “871 billion shares were traded on the exchange, with a total value of $2.371bn” and that according to market researchers FMG, the ISX has seen “the fastest earnings per share growth of any stock exchange anywhere in the world.”


  7. #7

    61020 Interview: Iraq bourse boss Taha Ahmed Abdulsalam Al Rubaye

    sczin: Isx - interview with the boss.. Great read
    NOTE: This article may have been researched and prepared a while ago, thus the difference in the dates mentioned, as compared to what we have recently seen in print. (my opinion only-MOO)


    Interview: Iraq bourse boss Taha Ahmed Abdulsalam Al Rubaye

    Saturday, 7 June 2014 11:05 AM

    On the face of it, Iraq Stock Exchange (ISX) CEO Taha Ahmed Abdulsalam Al Rubaye is in a plum position to impress: with the country’s economy booming at 9 percent and every industry still with huge potential yet to be untapped, there is a copious amount of room for the ISX to grow — up and out.

    Already, the exchange has nearly tripled its market capitalisation in the past three years and last year it launched the largest initial public offering (IPO) the Middle East had seen since before the global financial crisis.

    Yet, Al Rubaye does not have it easy.

    He is escorted to and from work in a secure vehicle, while the ISX building in Karrada district is surrounded by a brick wall topped with barbed wire. The traders he relies on risk their lives every time they step onto the trading floor. And the risk is real: in 2010, a car bomb exploded next door and 53 people were killed.

    The number of people that have died in violence across Iraq this year has been the worst since 2008.

    But life goes on and the ISX is ticking along with it.

    “Sometimes Baghdad is stable but sometimes there are criminals or terrorists … hurting and attacking people in some areas. But the economy is pushing through,” Al Rubaye tells Arabian Business.

    “We have work to do, we have responsibilities to [meet]. The investors, especially the non-Iraqi investors, understand there is movement from the terrorists but they are not... the country, we still have the power to manage the work, the job, everything. And many of the managers of those funds invested in the stock exchange visit the stock exchange.”

    Secure or not, Al Rubaye also is fighting a second, often even more arduous, obstacle: regulations that need to be forced through a lacklustre parliament.
    Several pieces of legislation related to the ISX and other investments that would indirectly boost the exchange have been in draft form for as many as five years, waiting for MPs and the government to approve and implement them.

    The stalemate is significantly hampering the private sector, where much of the potential investment opportunities lie.

    “Every year we have 7 percent, 9 percent, maybe [we’ll have] 13 percent growth in the GDP, but when you look at it, you can see about 90 percent coming from oil and the other ten coming from other sectors,” Al Rubaye says.

    “I need to see the GDP coming from other sectors. I’m not saying that the oil is not important, it’s important, but I need to see infrastructure and I need to see other sectors [increasing] their percentage of the GDP.”

    Ultimately, Al Rubaye is urging reform to boost the private sector share of GDP.

    “But the private sector cannot increase their percentage in the GDP unless you change some of your regulations,” he says.

    “It doesn’t matter that we are supporting the private sector — it’s not a matter of supporting — you need to make the regulation easy and accessible for Iraqis and non-Iraqis… to encourage the private sector to invest.

    How can I bring money and invest in a project when there are old methods? I need four to six months to register a company and then [I need to] wire money from side to side. All those kinds of services must be made by banks, by the stock exchange.

    “This is what I say all the time: we need to change some articles [in legislation] and make real changes in the companies law and the capital markets law. These will be the leaders to change the economy.”

    While things could definitely be better, the ISX is doing well.

    Last year, 871 billion shares were traded on the exchange, with a total value of $2.371bn. Following the Asiacell IPO, market capitalisation reached $9bn, with the index closing at 113 points.

    Emerging market and frontier research group FMG says in the past five years the ISX has recorded the fastest earnings per share growth of any stock exchange in the world. But share prices are yet to reflect this.

    “We are of the view that Iraqi equities have potential for one of the greatest rallies in the developing market universe,” FMG says.

    Al Rubaye has been at the centre of Iraq’s trading industry since the former Baghdad Stock Exchange (BSX) was launched in 1994. He endured the economic sanctions imposed on the country during Saddam Hussein’s dictatorship, living off a measly salary whose value plummeted along with the Iraqi dinar. As with most of the country’s highly educated, Al Rubaye was prohibited from leaving.

    The BSX collapsed during the US-led invasion of Iraq in 2003 and majority of shares owned at that point were lost or became worthless.

    In 2004, the US helped create the ISX, with Al Rubaye at the helm. It started with a handful of companies that had existed on the BSX and were still functioning post-war.

    Trading took place using white boards and an open outcry system until 2009 when it finally went electronic, allowing the exchange to open five days a week, although it is still only open for two hours a day. Advancing to electronic also improved transparency and disclosure and saw turnover significantly increase, while share prices rose closer to their real value.

    Foreigners have only been allowed to invest in the ISX since 2007 but still make up less than 20 percent of all trading. However, it has been estimated that between 60-70 percent of shares in Asiacell’s initial listing were bought by foreigners, representing an unprecedented international interest in the ISX. The telecom’s listing was expected to have an ongoing impact on foreign interest in the exchange and there has been some increase, but it’s yet to make a substantial impact.

    But Al Rubaye is confident. He believes outsiders understand the potential of the Iraqi bourse and he still has two all-but-guaranteed large IPOs to come any time soon. Under the terms of their 2007 contracts, the country’s other two telecoms operators — Zain Iraq, a subsidiary of Kuwait’s Zain Group, and Korek Telecom, backed by France’s Orange — must also list at least 25 percent of their companies.

    “Foreigners understand [that] there is an opportunity to invest in [the ISX], especially when there is growth in the GDP for Iraq,” he tells Arabian Business. “They understand that the economy will be pushing to be better than we have now.”

    Iraq has the fastest growing gross domestic product (GDP) of any economy worth over $50bn, putting it ahead of the likes of China, Libya, India and Qatar, according to the International Monetary Fund (IMF). The economy has been growing by more than 8 percent annually since 2011 and both the IMF and Central Bank of Iraq project a growth rate of more than 9 percent annually over the next few years, while Bank of America Merrill Lynch has said it expects Iraq’s economy to triple by 2024. However, as Al Rubaye points out, the majority of this is reliant on oil, although positively, production has tripled since the Iraq War and, according to Citigroup, could rise to one of the highest levels in the world.

    With few advanced non-oil sectors, the ISX is disproportionately dominated by banks; private banks make up 21 of the 82 listed stocks. But this is an opportunity, according to FMG. The industry is dominated by two government-run banks but private banks are gaining market share and rapidly improving on their 10 percent of total industry assets.

    “Profit before tax was up to 29 percent CAGR between 2007 and 2012. Still, we can with ease find quality banks trading below 10x trailing earnings and 1-1.5x book value, despite ample room for further growth,” a recent FMG report says.

    “The [banking] market is heavily under-penetrated where only about 15 percent of Iraqis have bank accounts. Also, banks have only ‘dipped their toes’ into conventional banking and are today mostly focusing on foreign exchange, central bank deposits and issuing letters of guarantee.”

    Telecoms also are key to the ISX. While Asiacell immediately doubled the exchange’s total market capitalisation to $9bn, the additional billions from Zain Iraq and Korek Telecom listings are expected to lift the ISX off the list of the world’s smallest bourses.

    Although they are years behind, Zain, the market leader in terms of subscribers, has hired Melak Iraq and Rabee Securities as its leading advisers and broker. It is expected to launch its IPO by the end of the year, having previously touted June as the expected date, although Al Rubaye says he is yet to receive a request to list.

    There is no date yet for Korek Telecom.

    Al Rubaye says Asiacell’s successful IPO was unsurprising, considering it was the first telecommunications company to go public in a barely-penetrated sector.
    “That’s the reason that we got more than $900m trade,” he says.

    Al Rubaye also has his sights set on several more IPOs in the near future. He even keeps a list of all the incorporated companies worthy of targeting.

    “I have a list of about 25 companies non-listed that we are encouraging to come to our stock exchange,” he says. “There are in fact thousands of limited companies; we are encouraging them to transfer to be shareholder companies and after that maybe we can talk about listing.

    “We are discussing with their boards, with their CEOs, but it depends if they meet the requirements.

    “We don’t have the power to enforce every non-listed company to list. Every year we ask the non-listed companies to join the stock exchange but it depends on their desire. I believe that that area needs to be developed to give some reward for the listed companies against the non-listed companies. Sometimes we ask the regulators to give some benefit for the non-listed companies [to list] and of course we educate the non-listed companies on what are the real benefits — the real benefit is you’re going to have more investment and more shareholders and you’re getting a fair price when you trade your shares.”

    Al Rubaye says the forced transparency that goes hand-in-hand with being a public company often turns off family and privately owned firms.

    “This is a big challenge for the stock exchange,” he says.

    “We are enforcing the listed companies to give quarterly disclosures and yearly disclosures, there is some urgent information we need to publish about the companies, [such as] the price going up or going down for two or three sessions, [the share price change can’t exceed] 10 percent. The company directors don’t like those kind of activities, especially when [at the moment] there are few shareholders with a majority [stake].”

    Al Rubaye expects more banks to list this year and he’s working with them to meet the requirements, which include having at least 100 shareholders and the past year’s financial statements.

    But the bourse itself also has some much needed improvements to make. Custody services are still limited since National Bank of Kuwait began custodying Iraqi shares last year through Credit Bank of Iraq, of which it owns 80 percent. Developing this further will be crucial because many of the larger institutional investors have mandates requiring their shares be held by custodians.

    Online trading also exists at a limited capacity, with only brokerage firms having access, limiting individuals’ participation in the bourse.

    Al Rubaye says he expects to begin studying the implementation of wider online trading once the ISX upgrades to NASDAQ OMX’s X-stream trading system, which is scheduled to go live at the end of July. The new platform, currently used by 25 exchanges globally, including in Abu Dhabi, will be faster and provide greater capacity, he says.

    The ISX also has agreed the new platform will host the Erbil Stock Exchange, due to kick off in November. It will be the first exchange in Iraq’s semi-autonomous region of Kurdistan and the ESX, which according to Iraq Business News has $8m in initial market capitalisation and 56 shareholders, hopes to have between five and ten listings by the end of the year.

    Al Rubaye says the two exchanges will work together.

    He is also pushing for an overhaul of the country’s capital markets law. A draft law written by a committee including representatives from the Iraq Securities Commission and the ISX was proposed in 2009 but remains in the government’s “to do” pile.

    “There are many laws in the queue,” Al Rubaye laments. “The private sector is moving fast but it needs more regulation.

    “The private sector works at least 12 hours [a day] to finish their jobs and responsibilities. We need to see the government sector also working with us past [normal hours] because at the end of the day we are behind as a country.

    “We are a rich country but the process, the methods, we need to push on that side. We used to have the [up-to-date] methods 20 or 30 years ago but it’s not right to continue with the same processes; you need to change. It is no longer “the Iraq finance”, it is “world finance”; you need to be acceptable from the world and the other institutions and you need to understand you are encouraging foreigners to invest in your country, so you must make what he learns in his country easy to find in your country.

    “This is what we did with the ISX; we didn’t invent the wheel, we studied what the other countries have... we studied and we took the regulations from other stock exchanges and learnt how they succeed in encouraging foreigners to invest and make it easier for the investors in Iraq.”

    With a strong base already and infinite room to improve, investor eyes not already trained on the ISX will surely be turning soon. But, as Al Rubaye warns, the potential will only be realised if politicians lift their game and the security situation does not deteriorate.

    Last edited by sczin11; 06-08-2014 at 10:27 AM.

  8. #8

    61021 Stock demanding enactment of new laws to revive the Iraqi economy

    sczin11: IRAQ STOCK EXCHANGE- another version

    Stock demanding enactment of new laws to revive the Iraqi economy
    June 8, 2014 7:31
    Last Updated: June 8, 2014 7:31

    Said the Iraqi market for securities, on Saturday, that the market is continuing to implement its responsibilities and its growth despite the "difficult security situation," noting that the movement of terrorists did not prevent communication with Arab and foreign investors, and as pointed out that the Iraqi economy needs to sources other than oil for revitalization, student "legislation of new laws and necessary" related to the stock market and investments in both the public and private sectors. term, according to the newspaper

    The director of the Iraqi market for securities (ISX) Taha Ahmed Abdul Salam al-Rubaie said in an interview for the site Arabian Bzenz Arabian Business Economic seen it (the long-Presse), "in spite of the difficult security situation the market is continuing to defy the situation with the continued progress of the economy to the front." Rubaie added, citing the site, "We have work to do and the responsibilities we seek to accomplish," noting that "investors, especially foreigners understand that there are movements of terrorists, but this does not prevent communication with the work, what we still have the power to manage the work, and that a lot of customers who have shares investment in the market visiting the market to follow their interests. "

    He pointed to al-Rubaie said "there are barriers limiting market activity is not to pass laws necessary for the stock market and other investments that will enhance the movement of the stock market in the country and support the private sector." He said al-Rubaie "is still far wording of the draft laws did not come up in Parliament for almost five years and is awaiting the approval of the parliament and the government for the purpose of application."

    He revealed al-Rubaie said that "economic growth rates in the country of GDP, which amounts annually between 7% to 9% and possibly up to 13%, 90% of the growth rates of these coming from the oil sector, with the remainder coming from other sectors is oil. "adding," We want to see the rate of domestic economic growth comes from other sectors, not just oil, and upgrading the infrastructure for the development of the private sector to contribute to a high proportion in the GDP growth rate for the country ", adding that it" will not be achieved unless we embark new laws provide for this matter and laws that encourage the Iraqis and non-Iraqis to invest in the private sector. "


  9. #9

    61022 Iraq signed an agreement with the company "Lukoil" Russian oil export

    sczin11: Luke oil signs deal

    Iraq signed an agreement with the company "Lukoil" Russian oil export

    June 8, 2014 7:54
    Last Updated: June 8, 2014 7:54

    The Oil Ministry announced that it entered into an Iraqi agreement with Lukoil Russian oil spent building pipelines to transport crude oil from Iraqi warehouses brick warehouses to export in FAO. Iraqi Oil Minister Abdul-Karim and coffee detect an amendment to the wording of the contract with Lukoil spend to rehabilitate the brick warehouses for the storage of crude oil and build two pipelines card 6.1 million barrels per day. According to defect, this amendment allows for the transfer of Iraq's 2.3 million barrels per day during the years of the brick tanks to tanks in the Faw export. According to the newspaper uprightness


  10. #10

    61023 South oil co gets going

    sczin11: South oil co gets going

    South Oil Company announces the opening of the pumping station and delivery of oil produced from Rumaila field in Basra

    South Oil Company announces the opening of the pumping station and delivery of oil produced from Rumaila field in Basra

    News Source: Ali Salman
    Section: Page economic
    June 8, 2014 8:06
    Readers Number: 43

    Opened SoC Friday ps1 pump station and delivery of crude oil produced from the Rumaila field in Basra, indicating the possibility of linking the station with the rest of the stations fields province to monitor all sites centrally and pumping in any direction instead of relying on manual operation.

    The director of the company, Jafar, in a press statement that "the German company Siemens has completed the construction work station ps1 in Rumaila, Basra province, was inaugurated today (Friday), the first in Iraq's oil industry and are used to pump and deliver crude oil produced from wells Rumaila control over extractive marginal and which allows their employees control the process of linking the station with the rest of the stations produced to determine the amount of the oil pump is required. "

    "It can be linked to the station with the rest of the stations in Zubair Zubair 1 and 2, FAO and South Rumaila and Tuba Qurna 2 and thus can centrally control all the sites and pumping in any direction instead of relying on manual operation, which had been in effect in the past."

    He pointed out that "the station include cabins central control and display screens big and small for the purpose of controlling the turbine units, and remote-controlled operation and is automatically".


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts