THE BOOM OUTSIDE BAGHDAD (239)
Newsweek has just hailed the emergence of a booming market economy in Iraq as "the mother of all surprises," noting that "Iraqis are more optimistic about the future than most Americans are." The reason, of course, is that Iraqis know what is going on in their country while Americans are fed a diet of exclusively negative reporting from Iraq.
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Since the fall of Saddam Hussein in 2003, the number of private companies in Iraq has increased from a mere 8,000 to more than 35,000 this year. Each week an average of 60 new companies spring up in Iraq's booming areas. A good part of the investment in southern Iraq, including in Um Qasr, comes from Kuwait and the United Arab Emirates.
"Whatever happens, Iraq is Iraq," says a Kuwaiti businessman, building hotels in the south. "Iraq will always remain the country with the world's largest oil reserves and the Middle East's biggest resources of water."
"Whatever happens, Iraq is Iraq," says a Kuwaiti businessman, building hotels in the south. "Iraq will always remain the country with the world's largest oil reserves and the Middle East's biggest resources of water."
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Iraq expands diplomatic ties with world countries
Baghdad, December 27, 2006
The Ministry of Foreign Affairs plans to set up 15 new diplomatic missions in 2007.
Foreign Minster Hoshyar Zebari said by the end of 2007 Iraq should have nearly 80 embassies across the world.
Zebari made the remarks during a meeting with local media representatives in which he also talked about relations with neighboring countries as well as the security situation.
He said the government was determined to take up “effective measures” to reinstate security and improve public services.
But “the stopping of the hemorrhage of sectarian strife is the top priority,” he said.
On ties with neighboring countries, Zebari said efforts in this regard were focused on anti-terror cooperation. He did not elaborate.
Baghdad, December 27, 2006
The Ministry of Foreign Affairs plans to set up 15 new diplomatic missions in 2007.
Foreign Minster Hoshyar Zebari said by the end of 2007 Iraq should have nearly 80 embassies across the world.
Zebari made the remarks during a meeting with local media representatives in which he also talked about relations with neighboring countries as well as the security situation.
He said the government was determined to take up “effective measures” to reinstate security and improve public services.
But “the stopping of the hemorrhage of sectarian strife is the top priority,” he said.
On ties with neighboring countries, Zebari said efforts in this regard were focused on anti-terror cooperation. He did not elaborate.
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You writing a book Mitchell?
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Mitchell, Bro, the White House needs you very badly...
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I could
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I`m already on the job 
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I think I'll move to Iraq right away...sounds like there are jobs there!!
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Actually unemployment is fairly high at the present time. It is running anywhere from 30 to 50 percent according to reports that I have read.
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Makes it a bit hard for people to have jobs when the US bombs all of the buildings, doesn't it? (No, this isn't news - everyone already knows it's been done.)
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We didn`t bomb all the buildings, but there is a constructiom boom as well.
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well...we can just send "our" contractors in there so they can get rich...good idea huh?..
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50 b yens as easy loans to develop oil ports in south
26/12/2006
Source: Al-Sabah
The Japanese government has approved to grant the Iraqi Ministry of Oil one million yen as an easy loans to upgrade crude oil installations in the southern ports while the ministry had decided to appoint 581 graduates of Oil institutes for the academic year 2003-2004.The Oil Undersecretary, the Eng.
Ahmed al-Shama'h stated that the Japanese government had approved in 10th December to grant Iraq 50 billions yen to upgrade the oil export installations via southern ports.
26/12/2006
Source: Al-Sabah
The Japanese government has approved to grant the Iraqi Ministry of Oil one million yen as an easy loans to upgrade crude oil installations in the southern ports while the ministry had decided to appoint 581 graduates of Oil institutes for the academic year 2003-2004.The Oil Undersecretary, the Eng.
Ahmed al-Shama'h stated that the Japanese government had approved in 10th December to grant Iraq 50 billions yen to upgrade the oil export installations via southern ports.
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Municipality to implement 1st part of Baghdad Metro
26/12/2006
Source: Al-Sabah
The Engineering and Technical staff at the Baghdad Municipality is ready to implement the 1st part of Baghdad Metro project which started from al-Ameen quarter passing from Al-Sadar city and arriving to adhimiya by the end of 2007.
The spokesman of the secretariat stated to as-Sabah, that metro project will contribute in transferring one million persons daily and include 23 stations distributed in various areas of Baghdad.Notably, the Iraqi cabinet had agreed on referring the implementation of this project which is part of Transport's Ministry responsibility to Baghdad Municipality, due to the serious stand of Baghdad Municipality.
26/12/2006
Source: Al-Sabah
The Engineering and Technical staff at the Baghdad Municipality is ready to implement the 1st part of Baghdad Metro project which started from al-Ameen quarter passing from Al-Sadar city and arriving to adhimiya by the end of 2007.
The spokesman of the secretariat stated to as-Sabah, that metro project will contribute in transferring one million persons daily and include 23 stations distributed in various areas of Baghdad.Notably, the Iraqi cabinet had agreed on referring the implementation of this project which is part of Transport's Ministry responsibility to Baghdad Municipality, due to the serious stand of Baghdad Municipality.
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Al-Maliki calls Polish companies to invest in Iraq
26/12/2006
The Iraqi Prime Minister Nuri al-Maliki confirmed, after a meeting with his Polish counterpart Yaroslav Kajinski who arrived in Baghdad Wednesday on a surprise visit, his country's desire to attract Polish companies to invest in Iraq.
Al-Maliki said during a joint press conference with the Polish Prime Minister that "there is a desire to cooperate with the Polish companies in the areas of oil, gas and in the military field". He added, "We asked the companies to come to Iraq and hold discussions with the ministers concerned in these areas and we agreed that the cooperation would not limited to oil".
Al-Maliki said that "there are military deals between Iraq and Poland to import weapons and helicopters wthin the military cooperation with the Iraqi Ministry of Defense". Al-Maliki pointed out that Iraq "looks forward to consolidate relations with friendly countries, including Poland".
On his part, the Polish Prime Minister said that "the talks tackled all areas practically and in detail".
In response to a question about the future of the Polish forces deployed in southern Iraq, he said that "the future of our forces stay in Iraq is due to the completion of some tasks that they were charged with (...) We believe that this is necessary not only to Iraq but to the entire world".
Poland, the ally of Washington since the beginning of the Iraqi conflict, deploys a force of 880 military in southern Iraq; 22 of them were killed since the start of the armed intervention in the country in the spring of 2003, including four civilians; two of them were journalists working for the public television.
He stressed that these forces "are present here at the invitation of the Iraqi government. Anyway, the day will come when there will be no need for the stay of our troops in Iraq". He confirmed that his country "is ready for economic cooperation with Iraq", adding that "there are safe areas to invest".
26/12/2006
The Iraqi Prime Minister Nuri al-Maliki confirmed, after a meeting with his Polish counterpart Yaroslav Kajinski who arrived in Baghdad Wednesday on a surprise visit, his country's desire to attract Polish companies to invest in Iraq.
Al-Maliki said during a joint press conference with the Polish Prime Minister that "there is a desire to cooperate with the Polish companies in the areas of oil, gas and in the military field". He added, "We asked the companies to come to Iraq and hold discussions with the ministers concerned in these areas and we agreed that the cooperation would not limited to oil".
Al-Maliki said that "there are military deals between Iraq and Poland to import weapons and helicopters wthin the military cooperation with the Iraqi Ministry of Defense". Al-Maliki pointed out that Iraq "looks forward to consolidate relations with friendly countries, including Poland".
On his part, the Polish Prime Minister said that "the talks tackled all areas practically and in detail".
In response to a question about the future of the Polish forces deployed in southern Iraq, he said that "the future of our forces stay in Iraq is due to the completion of some tasks that they were charged with (...) We believe that this is necessary not only to Iraq but to the entire world".
Poland, the ally of Washington since the beginning of the Iraqi conflict, deploys a force of 880 military in southern Iraq; 22 of them were killed since the start of the armed intervention in the country in the spring of 2003, including four civilians; two of them were journalists working for the public television.
He stressed that these forces "are present here at the invitation of the Iraqi government. Anyway, the day will come when there will be no need for the stay of our troops in Iraq". He confirmed that his country "is ready for economic cooperation with Iraq", adding that "there are safe areas to invest".
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Iraq oil could provide $3,500 per citizen
20/12/2006
Source: AlArab Online
A plan gaining favor in Washington to distribute Iraq's oil revenue directly to its people could put $3,500 a year in the hands of every adult Iraqi citizen, a Texas-based energy analyst said on Tuesday.
Veteran analyst Dale Steffes said his estimate was based on an oil price of $60 a barrel, $10 a barrel production costs, and the assumption that 10 million Iraqis would be old enough to qualify for a share of their country's oil wealth.
Iraq produces 2.2 million barrels of oil a day and exports 1.5 million barrels, according to the Iraq Study Group Report issued earlier this month.
Estimates for current average annual income in Iraq vary widely, but top out at around $1,500 a year.
Steffes, who has been urging the distribution of Iraqi oil money in his reports since 2004, said in an interview the best way to administer the program may be to give the money to those who register to vote and maintain a bank account, thus promoting social involvement and stability.
"Once people understand that the money is coming to them, they will want to protect that income stream and have some kind of government that can settle disputes," he said.
Opponents say distributing the money would be difficult due to logistical and corruption problems, but the idea has picked up advocates as the United States looks for ways to stop the chaos that has followed the 2003 invasion that toppled Iraqi leader Saddam Hussein.
In an op-ed piece in Monday's Wall Street Journal, two U.S. senators, urged President George W. Bush to form an "Iraq Oil Trust" modeled on the Alaskan Permanent Fund which gives Alaskan citizens a share of revenue produced from that state's oil fields.
"A distribution of revenues to all Iraqis would mean they have a greater incentive to keep the oil flowing, help the economy grow, reject the insurgency, and commit to the future of their nation".
20/12/2006
Source: AlArab Online
A plan gaining favor in Washington to distribute Iraq's oil revenue directly to its people could put $3,500 a year in the hands of every adult Iraqi citizen, a Texas-based energy analyst said on Tuesday.
Veteran analyst Dale Steffes said his estimate was based on an oil price of $60 a barrel, $10 a barrel production costs, and the assumption that 10 million Iraqis would be old enough to qualify for a share of their country's oil wealth.
Iraq produces 2.2 million barrels of oil a day and exports 1.5 million barrels, according to the Iraq Study Group Report issued earlier this month.
Estimates for current average annual income in Iraq vary widely, but top out at around $1,500 a year.
Steffes, who has been urging the distribution of Iraqi oil money in his reports since 2004, said in an interview the best way to administer the program may be to give the money to those who register to vote and maintain a bank account, thus promoting social involvement and stability.
"Once people understand that the money is coming to them, they will want to protect that income stream and have some kind of government that can settle disputes," he said.
Opponents say distributing the money would be difficult due to logistical and corruption problems, but the idea has picked up advocates as the United States looks for ways to stop the chaos that has followed the 2003 invasion that toppled Iraqi leader Saddam Hussein.
In an op-ed piece in Monday's Wall Street Journal, two U.S. senators, urged President George W. Bush to form an "Iraq Oil Trust" modeled on the Alaskan Permanent Fund which gives Alaskan citizens a share of revenue produced from that state's oil fields.
"A distribution of revenues to all Iraqis would mean they have a greater incentive to keep the oil flowing, help the economy grow, reject the insurgency, and commit to the future of their nation".
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Dinar soars: Iraqi currency hits 2-year high
11/12/2006
Source: The Chronical Herald
Iraq’s dinar currency has risen to a nearly two-year high against the U.S. dollar, as the nation’s central bank tries to fend off skyrocketing inflation by buying up the currency with dollars at its daily auctions.
Most of the money the Iraqi government earns is in U.S. dollars because oil exports are the main source of its income, and the bank has about US$14 billion in foreign assets, said Mudher Qassim, the Central Bank of Iraq’s director of statistics.
On Thursday, the last day of the work week in Baghdad, the central bank led the way at its daily currency auction, which saw 25 million U.S. dollars sold by about a dozen banks, the central bank said. Even larger amounts of dollars were sold during 10 of the auctions in November.
"Our goal is to reduce inflation, which is now running at about 50 per cent, by improving the dinar and thereby making imported goods cheaper," Qassim said, adding that more than 80 per cent of all Iraq’s tradable goods are imported, he said.
In a report in August, the International Monetary Fund also said inflation was escalating in Iraq. The 12-month rate of inflation ended 2005 at 31.7 per cent, but inflation then accelerated, with 12-month inflation reaching 58 per cent in May 2006, the report said.
Iraq’s Central Bank also is trying to fight inflation by raising interest rates. In November it raised its key policy rate to 16 per cent from 12 per cent. Wednesday’s report from the bipartisan U.S. Iraq Study Group said that by the end of 2006, the bank will raise rates to 20 per cent and appreciate the dinar by 10 per cent.
The Central Bank’s fight against inflation could prove to be an uphill battle, however, since many observers believe the leading contributor to inflation is the high cost of security involved in distributing goods throughout the country.
On Thursday, the dinar was trading at the central bank’s auction price of 1,424 against the U.S. dollar, its strongest price since March 23, 2004, when it was at 1,420.
* The Central Bank of Iraq currently has the dinar exchange rate at 1325 to the dollar.
11/12/2006
Source: The Chronical Herald
Iraq’s dinar currency has risen to a nearly two-year high against the U.S. dollar, as the nation’s central bank tries to fend off skyrocketing inflation by buying up the currency with dollars at its daily auctions.
Most of the money the Iraqi government earns is in U.S. dollars because oil exports are the main source of its income, and the bank has about US$14 billion in foreign assets, said Mudher Qassim, the Central Bank of Iraq’s director of statistics.
On Thursday, the last day of the work week in Baghdad, the central bank led the way at its daily currency auction, which saw 25 million U.S. dollars sold by about a dozen banks, the central bank said. Even larger amounts of dollars were sold during 10 of the auctions in November.
"Our goal is to reduce inflation, which is now running at about 50 per cent, by improving the dinar and thereby making imported goods cheaper," Qassim said, adding that more than 80 per cent of all Iraq’s tradable goods are imported, he said.
In a report in August, the International Monetary Fund also said inflation was escalating in Iraq. The 12-month rate of inflation ended 2005 at 31.7 per cent, but inflation then accelerated, with 12-month inflation reaching 58 per cent in May 2006, the report said.
Iraq’s Central Bank also is trying to fight inflation by raising interest rates. In November it raised its key policy rate to 16 per cent from 12 per cent. Wednesday’s report from the bipartisan U.S. Iraq Study Group said that by the end of 2006, the bank will raise rates to 20 per cent and appreciate the dinar by 10 per cent.
The Central Bank’s fight against inflation could prove to be an uphill battle, however, since many observers believe the leading contributor to inflation is the high cost of security involved in distributing goods throughout the country.
On Thursday, the dinar was trading at the central bank’s auction price of 1,424 against the U.S. dollar, its strongest price since March 23, 2004, when it was at 1,420.
* The Central Bank of Iraq currently has the dinar exchange rate at 1325 to the dollar.
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With all due respect, this kind of strikes me as putting a positive spin on a plane crash. The local fire department got to test its readiness; Boeing will have to build another plane (jobs); and funeral parlors received some incremental business. Again, respectfully, and JMO.
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Please feel free to add any news stories you like. I rather post what is good news, I think others would rather post the bad. Make no mistake about it though, I am well aware of what is happening in Iraq. I have people from all over who keep me up to date.
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This thread is for news, good or bad, out of Iraq. If you have it, share it. Your comments are welcome, but please let`s not get into a pissing contest.
Wherever some measure of security is assured - that is to say in more than 80 percent of Iraq - towns and villages long left to die a slow death are creeping back to life.
Nowhere is this slow but steady return to life more startling than in Um Qasr, in the southeast extremity of Iraq on the Persian Gulf. Four years ago, this was a jumble of rusting quays, abandoned houses and gutted buildings. By the spring of 2003, its population had dwindled to a few dozen, along with hundreds of stray dogs. There was even talk of abandoning it altogether.
Today, however, Um Qasr is back in business as a port with commercial and military functions. Hundreds of families that had left after the first Gulf War in 1991 have returned - joining many more who have come from all over Iraq.
The boom in Um Qasr is part of a broader picture that also includes Basra (the sprawling metropolis of southern Iraq), the Shi'ite "holy" cities of Najaf and Karbala, Mandali on the Iranian border and much of Baghdad.
When the International Monetary Fund and the World Bank reported two years ago that the Iraqi economy was heading for a boom, skeptics dismissed it as misplaced optimism. Now, however, even some of those who opposed the toppling of Saddam Hussein admit that many Iraqis share that optimism.