Saudis to Invest Over sr 2 Billion in Iraq

[ECH1969]

Many Saudi businessmen are now getting ready to establish a number of development projects in Iraq after the Iraqi Parliament approved its foreign investment law, the Al-Eqtisadiah daily reported.

Iraqi authorities are studying the projects and providing the necessary guarantees to attract investors and attract more Arabian capital.

Thaeer Al-Feili, consultant at the Iraqi Ministry of Housing, said that there are three big projects that Saudi investors tend to launch in Iraq. The projects include industrial, housing and agricultural investments.

Al-Feili said that the biggest of these projects is the agricultural project, lead by big Saudi investors. The project will take large space of land and will improve the Iraqi agricultural production.

http://www.menafn.com/qn_news_story_s.asp?StoryId=1093131391

[ikojo]

1. So Bandar Bush is going to be rescuing his little

bro out of yet another mess.

[ECH1969]

2. Iran gave Iraq one billion two weeks ago

Saudi Arabia is basically responding to that. They are both trying to buy influence in the new governmnet.

[AlCzervik]

3. are any of those "agricultural investments" located near oilfields?

[bahrbearian]

4. At Boeing in 1996 we used to say that, Mcdonald Douglas..

bought Boeing with Boeings money.. "Harry Stonecipher"

[bahrbearian]

5. I'm just saying that Saudi Arabia bought Iraq with our Money..

Israel under bid it.

[Mz Pip]

6. Fine

Let them have it. Maybe they can fix it. We sure can't.

Mz Pip
:dem:

[struggle4progress]

7. Think they'll be grumpy when their money's stolen?

Fuelling suspicion: the coalition and Iraq's oil billions /28.06.04

The US-controlled coalition in Baghdad is handing over power to an Iraqi government without having properly accounted for what it has done with some $20 billion of Iraq's own money, says a new report published by Christian Aid.

http://www.christian-aid.org.uk/news/media/pressrel/040627.htm


Audit: U.S. lost track of $9 billion in Iraq funds
Pentagon, Bremer dispute inspector general's report
Monday, January 31, 2005 Posted: 0412 GMT (1212 HKT)

WASHINGTON (CNN) -- Nearly $9 billion of money spent on Iraqi reconstruction is unaccounted for because of inefficiencies and bad management, according to a watchdog report published Sunday. An inspector general's report said the U.S.-led administration that ran Iraq until June 2004 is unable to account for the funds.

http://edition.cnn.com/2005/WORLD/meast/01/30/iraq.audit/


Report Finds “Appalling Level of Fraud and Greed”
By William Fisher
Inter Press Service
June 29, 2005

.. CPA officials gave over 8 billion dollars in cash to Iraqi ministries. The Special Inspector General found significant funds paid to ”ghost employees” and billion-dollar discrepancies in some expenditures. The cash -- a total of 363 tonnes, generated mostly from oil revenues -- was Iraqi funds that had been held in trust by the Federal Reserve under the terms of a United Nations resolution. Waxman said the largest single recipient of DFI funds was Halliburton ..

http://www.globalpolicy.org/security/issues/iraq/dfi/2005/0629appalling.htm


CORRUPTION:
Double Trouble for Halliburton
William Fisher

NEW YORK, Apr 21 <2005> (IPS) - The Halliburton corporation, already the Iraq war's poster child for ”waste, fraud and abuse”, has been hit with a new double-whammy. A report from the U.S. State Department accuses the company of ”poor performance” in its 1.2-billion-dollar contract to repair Iraq's vital southern oil fields. And a powerful California congressman is charging that Defence Department audits showing additional overcharges totaling 212 million dollars were concealed from United Nations monitors by the George W. Bush administration. The new overcharges bring to two billion dollars, or 42 percent of the contract amounts, the grand total of questionable bills from Halliburton ..

http://ipsnews.net/interna.asp?idnews=28404

[Toots]

8. I bet their two billion will accomplish more than our four hundred billion

in construction that is. We have certainly accomplished a lot of destruction..