Iraqi investors are in 2nd place in Jordan

The volume of investment in Jordanian registered companies during the last nine months of the current year amounted to 940, 26 million Jordanian dinars (about 1.33 billion dollars), compared with (480, 4) million dinars in the same period of 2005, at an increase of 95.7%.

General supervisor of the companies, Mahmmoud Al-Abbabanh, said that 7021 new companies with the capital of 940.3 million dinars had been registered since the beginning of this year till the end of last September compared with 6227 companies with the capital of 480.4 million dinars had been registered at the same period of last year.

Most new investments focused on the services sector amounted to 448 million dinars, and then agriculture amounted to 252.9 million dinars, industries amounted to 117.5 million dinars, followed by trade and reached 105.9 million dinars then contracting to 15.6 million dinars.

Al-Abbabanh explained that the new public shareholding companies accounted for the highest proportion of the total capital of the new registered companies, as the number recorded since the beginning of this year 2006 to 38 public shareholding companies with a total capital of485.6 million dinars compared to 12 public shareholding companies with a total capital of 80.7 million dinars registered at the same period of last year. It was followed by limited liability companies with the capital of 191.5 million dinars compared with 156.4 million dinars to the same period of last year.

Al-Abbabanh said that during the month of September, 600 new companies registered with a capital amounted to 77.2 million dinars compared to 685 companies with the capital of 124.5 million dinars registered at the same period of last year.(Source)AlSharq AlAwsat

Najaf Refinery to be Opened Today

The spokesman of the oil ministry Asim Jihad said that, the technique & engineering stuff of oil Productions Company carried out establishing of Najaf refinery completely earlier at the current year, adding that the current productions would participate in repairing residents' needs.

He emphasized that the next period would witnessing producing of 30 thousand barrels daily, pointing that Najaf refinery was the second carried out refinery after Samawa refinery which opened last year.(Source)AlSabah

Armed groups in Iraq announce truce,5000 officers support reconciliation

He said that some of those groups announced stopping military operations, expressing good faith to accept conditions of initiative and principles of Ramadhan document.

Meanwhile senior officer at previous Iraqi army said that about five thousand officers made gentlemen's agreement to support the project of Prime Minister Maliki.(Source)AlSabah

Rice Calls for the Sharing of Oil Wealth among Iraqis

Talabani said in a joint press conference with Rice, who arrived in Baghdad yesterday in a sudden visit, that he focused on two essential points during his interview with the American minister: the agreement among the political blocs through signing the document of preventing Iraqi bloodshed and the cooperation between the tribes in Anbar and the government to face and prosecute terrorists.

Rice has arrived yesterday morning, Friday, to Erbil and met with the President of Kurdistan, Massoud Barzani. She invited regional leaders to cooperate with Baghdad to establish a unified, democratic Iraq and to share oil wealth, while Barzani emphasized that the "Kurdistan Parliament approved the federal system within the framework of a democratic Iraq." The discussions aimed to persuade regional leaders to support the law that provides for the sharing of oil wealth among all Iraqis.

Rice renewed her government's commitment to assist the Iraqis in building their state and reconstructing Iraq, indicating that sectarian violence is a strategic threat and added that "of all the threats faced by Iraq are Al-Qaida rebels and sectarian violence… A solution must be found to that. "She said that there are three major bases of stability: reconciliation, security and economic development.

Rice met with Prime Minister Nuri al-Maliki and praised his "excellent leadership". She also confirmed that the United States would "remain a committed friend of Iraq" and added: "They are, without a doubt, difficult times for Iraqis but they are strong", expressing the readiness of her government to provide various kinds of support to the Iraqi government to resolve the problems faced.

On his part, Al-Malki confirmed, during the meeting, the government's determination to deal with the terrorists with all its strength through the development of the capabilities of security and military agencies. He pointed out to the necessity of keeping arms in the hands of government alone and works to contain the militia issue. He said that the Iraqi government was determined to establish the best relations with neighboring countries on the basis of common interests and that Iraq would not be a conduit for harm to any of them; however, the sovereignty of Iraq will not be the subject of discussion with any party.(SOurce)AlMada

Iraq Oil Ministry Ready to Invest Fields

The ministry stressed on necessity to deal with information in a crystallized way through media to be clear for the residents.

On the other hand, oil installations protection force had stopped 20 containers were prepared for smuggling in order to be sold the production in the black market.

Oil minister Dr. Hussein al-Shihrastani said that the ministry tends to investing all gas and oil fields in the different districts of the state since it contains large quantities of these materials by the next year. (Source)AlSabah

Maliki: Anbar would enjoy security, major reconstruction boom

In the mean time Anbar Deliverance Council prepares to hold conference to Anbar tribes' leaders in Ramadi during next few days, said well informed source.

He added the conference would discuss secure safety in Anbar. On the other hand, security services in Babil declared state of alert preparing to face escaping terrorist groups from Ramadi to northern areas of the Babylon.(Source)Alsabah

Opening Najaf, Iraq Refinery Next Week

He added that the liquidator will produce quantities of kerosene, black-and-white oil and gasoline to fulfill the local needs and provide local plants such as cement plant in Najaf and others with such materials.

He added: "The reopening of the refinery was in such a short period of time". Jihad explained that this is the second refinery that enters the production field, after Samawah liquidator, since the fall of the previous regime.

He pointed out that the Oil Ministry announced that Al-Ahdab field in the province of Wasit will be the first field to be developed to produce 30 thousand barrels per day. It is planned to increase production over the next two years to 90 thousand barrels per day which will make it possible to establish a very large electricity station in this field.

Jihad continued "the field of east Baghdad will be developed, to produce 16 thousand barrels a day; then increase to 30 thousand barrels per day during the next term according to the ministry's plan.

He added "this field, which will feed Al-Quds thermal processing electricity station with fuel, will be developed for export purposes later. (Source)Al-Bayan

The Completion of Draft law on Iraq Securities and Iraq Stock Exchange

He pointed out that the draft is "complete" in the form that meets with the requirements of modern investment, electronic circulation, outside link, stock exchanges, the Arab and regional economies.

Electronic trading: Implementing electronic trading expected to begin early next year. Abdulsalam said that this system has important results in strengthening its ability to activate the potentials of investors and shareholders to benefit from its advantages. It will provide the possibility of opening the Iraqi bourse rooms in Kurdistan region as well as the central and southern governorates. He pointed out that the market has a plan that would include the possibility of registering non-Iraqi companies in the Iraqi Stock Exchange and Iraqi companies in Arab Stock Exchange.

Abdulsalam returned to Baghdad after an observation trip in Amman with a delegation from the bourse presided by Head of Trustees Talib Tabatabai. There, he observed the phases of implementing the electronic system by an international company. He considered the issuance of the new investment law which allows non-Iraqis to trade on the Stock Exchange as well as applying and using electronic systems, encourages and stimulates non-Iraqi circulation in the Iraqi market. This means the rise of market value of the shares due to the high demand and the increase of investors' incomes in the market as well as their wealth.

The executive director of the market said that the manual circulation adopted at the Stock Exchange, holding two sessions a week for two hours each and the continuing process of changing ownership from seller to buyer that takes two or four weeks, all prevent the buying investor from selling until after this period, while the electronic circulation allows the agents to trade through their offices in Baghdad and elsewhere. The Exchange could also be done during ten sessions within five days a week, divided into a morning session and an evening one, for two hours each. He pointed out that the investor who buys the shares in the morning session can sell them in the evening and visa versa.

He anticipated that the number of executed contracts, now 350, will increase hundreds of times after adopting the electronic system. This means achieving high fluidity of the circulated shares by perhaps up to 100%.(Source)Dar AlHayat

500 Medical Institutions Participating in the International Medicine Fair for Reconstructing Iraq

Head of the supreme organizing committee, Badr Al-Inizi, said in a press conference that the idea of organizing this international medical fair and conference in Kuwait to serve the health sector in Iraq is an important step in the cooperation between Iraq and Kuwait. Also, to encourage and support investors, companies and institutions who are interested in investing in the Iraqi market through this specialized international gathering. The fair will display the innovations in the medical field and the developments on them in order to help the medical and health sector in Iraq move forward.

He added that Iraq's great desire was the main reason for organizing this fair and the seminar that is about to be hold in order to establish relations between Iraqi and Kuwaiti doctors as well as between unions, governmental and private institutions from both countries. This will pave the way for big investments in all fields especially the medical one which can take investments in millions or even billions USD.

Al-Inizi said that more than 500 international companies and institutions will participate in the fair to display their latest products and modern medical equipments that fulfill the Iraqi demand. The fair will be held on (Fairs Ground), in addition to organizing and establishing workshops during the conference.

The fair aims at training Iraqi doctors to operate the modern medical devices displayed within its wings as well as in the international market.

Dr. Nameer Annahi, head of pharmacy division in Basrah, said that this international conference serves the constructing process in Iraq because it introduces us to the best there is in the modern science of medicine. It will, also, supply health sector in Iraq with devices and equipments that it needs very much.

Dr. Nameer stated that Iraqi government is working on encouraging investments in Iraq. Therefore, it started facilitating things for the investors who desire to enter the Iraqi market which needs more of the medical and therapeutic products. So, this is a very promising opportunity to invest in Iraq for the ambitious companies and institutions. He pointed out that the government is seriously intending to establish more hospitals and health centers to fulfill the public needs of medical care and health services.

Dr. Qusai Zeebari, head of surgery division at Assadr Instructional Hospital and representative of doctors union in Iraq, said that investments in Iraq are very promising and they can take a lot of products that develop health and medical services as well as enhancing health sector here. He pointed out that this field has an increasing demand for medical products around the clock. He confirmed that health sector in Iraq is in great need for the medicine and drugs that will be provided by the companies, institutions and investors participating in the fair and conference.

He explained that many contracts will be concluded between the Iraqi side and the rest of the Arab and foreign investors to fulfill the needs of the local market in the medical sector in Iraq. Zeebari said that there are some regulations that goes along with the international policy of investing in the field of importing drugs and medical equipments, but the government is trying hard to facilitate the procedures and simplify them. The government is, also, working on adjusting laws and legislations to attract the foreign investor.(Source)Alsabah

Iraq Prime Minister Maliki stresses determination to step down militias

This has come during his meeting with delegation from Senate headed by Senator John Warner, Chairman of Armed Forces Committee.

The Prime Minister added that the country has witnessed a major development in security and the Government succeeded in transform hot regions to areas confronts terrorism and fights it as Anbar, Nineveh and Diyala provinces.

On the other hand Maliki met UN Envoy in Iraq Ashraf Qadhi to discuss developments of security situation in the country.(Source)Alsabah