UN Condemns Assassination of Sheikh

The Acting Special Representative of the United Nations Secretary-General for Iraq (A-SRSG), Mr. Gyorgy Busztin, has condemned in the strongest terms the assassination on 22 July of the Head of the Arab bloc in the Kirkuk Provincial Council and Deputy Chairman of the Provincial Council Security Committee, Sheikh Abdallah Sami Al-Assi, and two of his bodyguards.
Sheikh Al-Assi was a pivotal and well-respected political figure in Kirkuk, who always advocated dialogue and peaceful coexistence in the province. He engaged with UNAMI in the discussions on the way forward for holding Kirkuk elections.
Mr. Busztin extends his sincere condolences to the families of Sheikh Al-Assi and of those who were murdered with him, as well as to the Kirkuk Provincial Council.
(Source: UNAMI)
(Picture: The Government Electoral Office in Kirkuk, Iraq. UN Photo/Rick Bajornas)

Source: Iraq-BusinessNews.com.

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Behind Iraq’s Upsurge in Violence

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.
Will a political deadlock, a lack of government control and spiralling chaos push the war-torn nation over the edge?
Mike Hanna discusses the reasons behind the increasing violence in Iraq recently with guests: Laith Kuba, director of the Middle East and North Africa programme at the National Endowment for Democracy.Laith was the former adviser to the Iraqi prime minister; Brigadier general Mark Kimmitt, a former secretary for political and military affairs and former director for strategy at United States Central Command [CENTOM); and Souad Mekhennet, a columnist at Newsweek. Souad has covered Iraq extensively and authored a book called, “The Children of Jihad “.

Source: Iraq-BusinessNews.com.

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Iraq to Import Natural Gas from Iran

By John Lee.
A spokesman for the Electricity Ministry, Musab al-Mudaris, confirmed on Tuesday that Iraq has signed a deal with Iran to import natural gas for power generation.
Associated Press reports that under the four-year deal, Iraq buy 850 million cubic feet a day of gas at international market prices, but UPI says no financial details were disclosed.
The gas will feed a power plant in Diyala, and two others in the Baghdad, generating 2,500 MW.
Javad Oji [Owji, Ouji] (pictured), managing director of the National Iranian Gas Co, said:
Construction of the 140-mile [long] 48-inch [diameter] gas pipeline is nearing completion and its extension in Iraq territory will also come to an end in the next two months.
(Sources: Associated Press, UPI, Dow Jones)

Source: Iraq-BusinessNews.com.

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DINAR GURUS UPDATE, 23 JULY

7-23-2013  Newshound Guru Doc   Members of the Finance Committee was recently interviewed concerning currency reform.  There were several very telling quotes which pretty well disprove much of the “RV is at any moment” rumors…  Tamimi was quoted as “Development is the gateway to strengthening the currency. Thus, raising the value of the dinar is more important than the deletion of zeros”. 

LONGHORN DAVE UPDATE, 23 JULY

HELLO ALL, RADIO SILENCE IS STILL IN EFFECT AT UST. WATCH FOR THE “HISTORIC”/”UN-NAMED EVENT” IN THE NEXT 24 HOURS. IF IM NOT IN JAIL I WILL TRY AND GET AN UPDATE TO EVERYONE WEDNESDAY AM. THE HEAT IS GETTING REALLY HOT AND LOTS OF PARINOIA AROUND OUR GROUP HERE. REMEMBER I SAID EGOS ARE STILL IN PLAY. KEEP HOPING.HOOK EM!

TONY UPDATE, 23 JULY

Blast from TONY************We are hearing more and more about a possible update from the U.N. Once again, several people have confirmed what our group of resources has brought to us first. The banks are indeed ready, there was a computer situation yesterday, but it was quickly resolved. Bank people are indeed working extended hours today, but with one difference……..They are not allowed to

IMF recommended non-oil sector development & foreign exchange liberalization

The IMF recommended that Iraq’s non-oil sector development and liberalization of "foreign exchange"

Tuesday, July 23, 2013 22: 05

Twilight news/ IMF praised the Government’s performance in maintaining macroeconomic stability in Iraq, despite security and political challenges faced by and the volatility of oil prices, but the Government recommended that the non-oil private sector development and liberalization of the foreign exchange market to encourage investment.

He said UNFPA representative resident in Oman Ghazi Iraq shubaikat at a press conference held at the Iraqi Business Council in the Jordanian capital Monday evening that the Fund report on the economic situation in Iraq of 2013 stressed the need for Iraq to build protective margins in finance to cope with fluctuations in oil revenues and the further strengthening of the institutional framework.

The report urged the Iraqi Government to accelerate the pace of reforms to develop the non-oil private sector, to assist in job creation and overall growth, according to the radio free Iraq and obtained by "twilight news.

Shubaikat said that the report of the Fund has been positive because of the improved oil production, as production this year rose 3.3 million barrels a day, as well as oil prices somewhat stable.

The report came up with a set of recommendations for action by the Iraqi Government to reform its economy mainly; how to manage the oil wealth and the need for reforms in the financial sector, and adjust the current expenditures and direct expenditures towards priority aspects, and increased investment spending.

The implementation rates for the investment budget for 2013 were less than required, as well as building fiscal surpluses in the Development Fund for Iraq can be used in the event of low oil prices.

According to shubaikat, the report of the International Monetary Fund recommended the liberalization of the foreign exchange market to encourage investment and strengthen laws against money laundering, and reform of the financial and banking sector in Iraq, which remains weak in the course of development in the country, in addition to the need for Iraq to reforms in agriculture wehikilih of State-owned enterprises.

Shubaikat said the main risks facing Iraq and the economy, de promotion are poor implementation of political reforms, the level of the political and security situation and the delays in increasing oil production and falling oil prices globally.

The UNFPA representative underlined the need for Iraq to have the private sector able to production, and direct investment in non-oil sectors, particularly electricity and agriculture where Iraq has a significant competitive advantage, adding that Iraq needs years of work to rebuild his fortune.

The President said the Iraqi Business Council n_ziimez the IMF assessment of the economic situation in Iraq very painless, despite some positive aspects.

He stressed the need to take the private sector role in development and economic growth, through the establishment of investment projects to support the investment budget to lighten the burden borne by.

The report is a summary of the so-called article IV report of the Convention establishing the International Monetary Fund, the Convention sets out obligations on Member States, including appropriate economic policies and is an annual report after gathering data from the States and numerous visits.

IMF recommended non-oil sector development & foreign exchange liberalization

The IMF recommended that Iraq’s non-oil sector development and liberalization of "foreign exchange"

Tuesday, July 23, 2013 22: 05

Twilight news/ IMF praised the Government’s performance in maintaining macroeconomic stability in Iraq, despite security and political challenges faced by and the volatility of oil prices, but the Government recommended that the non-oil private sector development and liberalization of the foreign exchange market to encourage investment.

He said UNFPA representative resident in Oman Ghazi Iraq shubaikat at a press conference held at the Iraqi Business Council in the Jordanian capital Monday evening that the Fund report on the economic situation in Iraq of 2013 stressed the need for Iraq to build protective margins in finance to cope with fluctuations in oil revenues and the further strengthening of the institutional framework.

The report urged the Iraqi Government to accelerate the pace of reforms to develop the non-oil private sector, to assist in job creation and overall growth, according to the radio free Iraq and obtained by "twilight news.

Shubaikat said that the report of the Fund has been positive because of the improved oil production, as production this year rose 3.3 million barrels a day, as well as oil prices somewhat stable.

The report came up with a set of recommendations for action by the Iraqi Government to reform its economy mainly; how to manage the oil wealth and the need for reforms in the financial sector, and adjust the current expenditures and direct expenditures towards priority aspects, and increased investment spending.

The implementation rates for the investment budget for 2013 were less than required, as well as building fiscal surpluses in the Development Fund for Iraq can be used in the event of low oil prices.

According to shubaikat, the report of the International Monetary Fund recommended the liberalization of the foreign exchange market to encourage investment and strengthen laws against money laundering, and reform of the financial and banking sector in Iraq, which remains weak in the course of development in the country, in addition to the need for Iraq to reforms in agriculture wehikilih of State-owned enterprises.

Shubaikat said the main risks facing Iraq and the economy, de promotion are poor implementation of political reforms, the level of the political and security situation and the delays in increasing oil production and falling oil prices globally.

The UNFPA representative underlined the need for Iraq to have the private sector able to production, and direct investment in non-oil sectors, particularly electricity and agriculture where Iraq has a significant competitive advantage, adding that Iraq needs years of work to rebuild his fortune.

The President said the Iraqi Business Council n_ziimez the IMF assessment of the economic situation in Iraq very painless, despite some positive aspects.

He stressed the need to take the private sector role in development and economic growth, through the establishment of investment projects to support the investment budget to lighten the burden borne by.

The report is a summary of the so-called article IV report of the Convention establishing the International Monetary Fund, the Convention sets out obligations on Member States, including appropriate economic policies and is an annual report after gathering data from the States and numerous visits.

IMF recommended non-oil sector development & foreign exchange liberalization

The IMF recommended that Iraq’s non-oil sector development and liberalization of "foreign exchange"

Tuesday, July 23, 2013 22: 05

Twilight news/ IMF praised the Government’s performance in maintaining macroeconomic stability in Iraq, despite security and political challenges faced by and the volatility of oil prices, but the Government recommended that the non-oil private sector development and liberalization of the foreign exchange market to encourage investment.

He said UNFPA representative resident in Oman Ghazi Iraq shubaikat at a press conference held at the Iraqi Business Council in the Jordanian capital Monday evening that the Fund report on the economic situation in Iraq of 2013 stressed the need for Iraq to build protective margins in finance to cope with fluctuations in oil revenues and the further strengthening of the institutional framework.

The report urged the Iraqi Government to accelerate the pace of reforms to develop the non-oil private sector, to assist in job creation and overall growth, according to the radio free Iraq and obtained by "twilight news.

Shubaikat said that the report of the Fund has been positive because of the improved oil production, as production this year rose 3.3 million barrels a day, as well as oil prices somewhat stable.

The report came up with a set of recommendations for action by the Iraqi Government to reform its economy mainly; how to manage the oil wealth and the need for reforms in the financial sector, and adjust the current expenditures and direct expenditures towards priority aspects, and increased investment spending.

The implementation rates for the investment budget for 2013 were less than required, as well as building fiscal surpluses in the Development Fund for Iraq can be used in the event of low oil prices.

According to shubaikat, the report of the International Monetary Fund recommended the liberalization of the foreign exchange market to encourage investment and strengthen laws against money laundering, and reform of the financial and banking sector in Iraq, which remains weak in the course of development in the country, in addition to the need for Iraq to reforms in agriculture wehikilih of State-owned enterprises.

Shubaikat said the main risks facing Iraq and the economy, de promotion are poor implementation of political reforms, the level of the political and security situation and the delays in increasing oil production and falling oil prices globally.

The UNFPA representative underlined the need for Iraq to have the private sector able to production, and direct investment in non-oil sectors, particularly electricity and agriculture where Iraq has a significant competitive advantage, adding that Iraq needs years of work to rebuild his fortune.

The President said the Iraqi Business Council n_ziimez the IMF assessment of the economic situation in Iraq very painless, despite some positive aspects.

He stressed the need to take the private sector role in development and economic growth, through the establishment of investment projects to support the investment budget to lighten the burden borne by.

The report is a summary of the so-called article IV report of the Convention establishing the International Monetary Fund, the Convention sets out obligations on Member States, including appropriate economic policies and is an annual report after gathering data from the States and numerous visits.

IMF recommended non-oil sector development & foreign exchange liberalization

The IMF recommended that Iraq’s non-oil sector development and liberalization of "foreign exchange"

Tuesday, July 23, 2013 22: 05

Twilight news/ IMF praised the Government’s performance in maintaining macroeconomic stability in Iraq, despite security and political challenges faced by and the volatility of oil prices, but the Government recommended that the non-oil private sector development and liberalization of the foreign exchange market to encourage investment.

He said UNFPA representative resident in Oman Ghazi Iraq shubaikat at a press conference held at the Iraqi Business Council in the Jordanian capital Monday evening that the Fund report on the economic situation in Iraq of 2013 stressed the need for Iraq to build protective margins in finance to cope with fluctuations in oil revenues and the further strengthening of the institutional framework.

The report urged the Iraqi Government to accelerate the pace of reforms to develop the non-oil private sector, to assist in job creation and overall growth, according to the radio free Iraq and obtained by "twilight news.

Shubaikat said that the report of the Fund has been positive because of the improved oil production, as production this year rose 3.3 million barrels a day, as well as oil prices somewhat stable.

The report came up with a set of recommendations for action by the Iraqi Government to reform its economy mainly; how to manage the oil wealth and the need for reforms in the financial sector, and adjust the current expenditures and direct expenditures towards priority aspects, and increased investment spending.

The implementation rates for the investment budget for 2013 were less than required, as well as building fiscal surpluses in the Development Fund for Iraq can be used in the event of low oil prices.

According to shubaikat, the report of the International Monetary Fund recommended the liberalization of the foreign exchange market to encourage investment and strengthen laws against money laundering, and reform of the financial and banking sector in Iraq, which remains weak in the course of development in the country, in addition to the need for Iraq to reforms in agriculture wehikilih of State-owned enterprises.

Shubaikat said the main risks facing Iraq and the economy, de promotion are poor implementation of political reforms, the level of the political and security situation and the delays in increasing oil production and falling oil prices globally.

The UNFPA representative underlined the need for Iraq to have the private sector able to production, and direct investment in non-oil sectors, particularly electricity and agriculture where Iraq has a significant competitive advantage, adding that Iraq needs years of work to rebuild his fortune.

The President said the Iraqi Business Council n_ziimez the IMF assessment of the economic situation in Iraq very painless, despite some positive aspects.

He stressed the need to take the private sector role in development and economic growth, through the establishment of investment projects to support the investment budget to lighten the burden borne by.

The report is a summary of the so-called article IV report of the Convention establishing the International Monetary Fund, the Convention sets out obligations on Member States, including appropriate economic policies and is an annual report after gathering data from the States and numerous visits.