Monthly Archives: October 2010
Iraq Will Sign Right Economic Contracts With France
| October 31, 2010 | Filled under All Dinar Trade Articles |
Baghdad, (AKnews) – An adviser in the outgoing Iraqi government said on Thursday that Iraq will sign eight important economic contracts with France next November. iraqi businessman at fairThe adviser of the prime minister for Foreign Affairs, Ahmad al-shehani told AKnews that “the Iraqi government will sign eight economic contracts next month to expand the economic transactions between the two countries,…
GCC Economy Set to Double in 10 Years
| October 31, 2010 | Filled under All Dinar Trade Articles |
The GCC’s economy is expected to more than double to US$2.3 trillion (Dh8.4tn) in the next decade but the region needs to make greater strides towards preparing for the post-oil age, says a report to be released today. The non-hydrocarbon sector was expected to grow at a faster pace than the hydrocarbon economy over the next 10 years, says the report…
Central Banks Focus of Attention This Week Will Be On Currency Volatility
| October 31, 2010 | Filled under All Dinar Trade Articles |
Central banks focus of attention. Central banks will take centre stage this week with new stimulus measures and currency volatility poised to have a big impact on UAE stocks. Five central banks will hold meetings to discuss policy measures, including the US Federal Reserve, which is expected to announce fresh stimulus measures to bolster the flagging economy. That stimulus could result…
Symposium in Maryland for the Purpose of Promoting Investment in Iraq
| October 30, 2010 | Filled under All Dinar Trade Articles |
Maryland, Commerce Department was organized in cooperation with the Iraqi trade delegation in Washington Symposium in Baltimore City, Maryland State appropriated to discuss trade and economic investment in the Iraq and steps and actions taken by the Iraqi Government to encourage and attract foreign investment. Source us with written permission obtained (News Agency of news) from: attended the Symposium of the…
Iraqi Council of Ministers Postpones Reading Budget 2011
| October 30, 2010 | Filled under All Dinar Trade Articles |
Baghdad, The adviser in the Iraqi government, on Wednesday, that the Council of the prime minister postponed to read the budget in 2011 to next week, in order to address the problem of the difference between the price of oil and oil ministries of finance ministries. The Economic Adviser peace Qureshi told the Kurdish news agency (Rn) that “the Presidency of…
Iraqi Currency Redenomination and Exchangeability
| October 30, 2010 | Filled under All Dinar Trade Articles |
There have been a tremendous number of inquiries about the recent news that Iraq will be increasing the value of their currency and, at the same time, introduce new denominations into the Iraqi economy sometime in 2010 (currently planned). Specifically, it has been reported that the Iraq Finance Minister issued a statement saying they have prepared a plan to increase the…
The New Worldwide Monetary and Financial System
| October 30, 2010 | Filled under All Dinar Trade Articles |
by John Smallman- The industrialized nations are in a state of turmoil due to the unsustainable debts that some have accrued and that others have enabled. Your currency markets are confused and are unable to decide which currency, if any, is sound. The turmoil will continue for some months, leading to further economic crises before the final collapse of world financial…
Investing Calls for South Korea to Contribute to the Reconstruction of Infrastructure Operations in Iraq
| October 30, 2010 | Filled under All Dinar Trade Articles |
The head of the National Investment Commission Sami Araji hoped participation of government institutions and South Korean companies in a positive way to strengthen the infrastructure and master in Iraq. The Araji and his entourage consisting of Group financial, legal and economic and technical have arrived to South Korea in five-day official visit days. He said the President of the National…
U.S. Economic Establishes the First Company of the Investment Advisory “Phoenix Capital”
| October 28, 2010 | Filled under All Dinar Trade Articles |
Erbil, The site U.S. economic today, Thursday, that the financial advisor U.S. will establish an investment advisory firm in Baghdad, in conjunction with a bank branch, “Phoenix Capital” in Baghdad to investment, to be the first consulting firm joint between Baghdad and Washington. Came in “CNBC” This consulting firm, which Siwssha Financial Advisor American Taylor de Young in collaboration with the…
Central Bank: Inflation May Rise in Iraq, But Will Remain Under Control
| October 28, 2010 | Filled under All Dinar Trade Articles |
BAGHDAD – A senior adviser Qassem harmful to the Iraqi Central Bank said on Wednesday that the annual inflation rate in Iraq could rise to 3.9 percent in the next six months with increased spending on reconstruction after seven and a half years of US-led invasion the United States. Qassem also said that the official unemployment rate fell to 15 percent…
The Mission of the New Iraqi Dinar is to Raise the Price in the Currency Market …Must Be Placed a Price Equivalent to the U.S. Dollar!!!
| October 26, 2010 | Filled under All Dinar Trade Articles |
The deterioration that took place in Iraqi dinars since the early eighties of the last century as a result of economic policies random non-scientific, which followed the Iraqi political system before, Who pursued the policy of broad consumer spending Bcatrih military and civil cause of the deterioration of the Iraqi dinar to the bottom so that the purchasing power of the…
Iraq Mega Projects Conf. Oct 26-28, 2010: Unleashing the Potential of Oil and Gas Projects
| October 26, 2010 | Filled under All Dinar Trade Articles |
Given that the second round of bids on oil fields in Iraq have been finalised, now is the time to implement the projects to ensure oil output targets are met. Iraq Mega Projects will focus upon the challenges which lie ahead, identify the strategies to ensure quotas are met and highlight the operations that are essential to help rebuild the country.…
Iraqi Finance Renewed its Claim to Raise Zeros From the Local Currency
| October 25, 2010 | Filled under All Dinar Trade Articles |
CBI begins the end of the year and gradually replace the currency now in circulation a new currency which zeroes deleted within the strategy to reform the monetary system started in 2005 Baghdad, Renewed the Iraqi Finance Ministry claim of the Central Bank of Iraq need to raise three zeroes from the local currency, said advisor to the Iraqi Ministry of…
BB&M International Corporation Announces Partnership with Warka Bank for Investment and Finance
| October 24, 2010 | Filled under All Dinar Trade Articles |
Through the partnership, BB&M International is now able to offer offshore institution-branded Visa and MasterCard credit cards. Issued in Iraqi Dinar or USD… BB&M International Corporation, an offshore banking company, is pleased to announce its recent partnership with Warka Bank for Investment and Finance, one of the largest financial institutions in Iraq. BB&M International and its CEO, William Burbank, received the…
Iraqi Finance Calls for Raising the Price of Iraqi Crude Oil to $70
| October 24, 2010 | Filled under All Dinar Trade Articles |
Baghdad, demanded that the Iraqi Finance Ministry and the Ministry of Oil to raise the prices of oil from $ 65 per barrel to $70 to merge with the fiscal policy of the International Monetary Fund. An advisor to the Ministry of Finance Zia Alckheon Kurdistan News Agency (Rn) that “the Finance Ministry called the Ministry of Oil formally the need…
G20 Summit Moves Closer to Agreement on Currencies
| October 23, 2010 | Filled under All Dinar Trade Articles |
GYEONGJU, South Korea – A summit of the world’s major economies is moving closer to an agreement on policies to reduce currency tensions that threaten the global recovery, a U.S. official said Saturday. But any accord from the meeting of Group of 20 finance ministers and central bank governors is unlikely to include specific targets for reducing the vast trade surpluses…
Refining Iraq’s Economy
| October 22, 2010 | Filled under All Dinar Trade Articles |
Within five years, Iraq will turn from an importer of petroleum products into the world’s largest exporter, according to the Oil Ministry’s new investment map, unveiled in Nassiriyah this week. To achieve this, Iraq has opened the door wide for international companies to build four new refineries and refurbish existing ones in order to boost production of oil products up to…
Iraq Will Renew the Plants Ravaged by War “in 2011 We Will Have 800 Billion Iraqi Dinars”
| October 19, 2010 | Filled under All Dinar Trade Articles |
Baghdad: a senior official said the Ministry of Industry and Minerals in Iraq, said Monday that Iraq plans to spend about $ 680 million in 2011 to renew his factories, devastated by war and to start construction of new plants. Said Haifa Abdul-Hamid, director general of the ministry’s investment plan of economic reform mainly focused on the renewal of existing plants…
Revival of the New Iraq is the Best Kept Secret in World Finance
| October 16, 2010 | Filled under All Dinar Trade Articles |
By William Burbank – Hussein Al-Uzri, Chairman and President of Trade Bank of Iraq assesses the potential of the Iraqi economy and the development of trade. The entire world loves a stereotype, even when it is based on an assumption that is no longer true. When you watch television news or open the pages of a newspaper, the stereotype they like…
Halliburton Wins ExxonMobil Contract To Revamp Iraq Field
| October 15, 2010 | Filled under All Dinar Trade Articles |
Halliburton Co. (HAL) said Thursday it has been awarded a contract by ExxonMobil. Corp. ( XOM | PowerRating) to refurbish wells in Iraq’s largest oil field, an important step in the ramp-up of production from the Middle Eastern country’s massive oil reserves. ExxonMobil, the world’s largest publicly-traded oil company, is leading one phase of a two-stage development of the West Qurna…
Corp. ( XOM | PowerRating) to refurbish wells in Iraq’s largest oil field, an important step in the ramp-up of production from the Middle Eastern country’s massive oil reserves.
ExxonMobil, the world’s largest publicly-traded oil company, is leading one phase of a two-stage development of the West Qurna oil field in southern Iraq, which that country’s oil ministry says holds total proven oil reserves of 43 billion barrels. Russian Lukoil Holdings (LKOH.RS) was chosen to head up the second development phase in that field.
Iraq announced that it had 143.1 billion barrels of proven oil reserves earlier this month, a 20% increase over the last estimates made in 2001. Those reserves would place the country third in the world behind Saudi Arabia and Venezuela, but they have not been independently verified.
Reversing a decline in production at West Qurna is seen as a major step in ramping up Iraqi output, which is now around 2.4 million barrels a day compared with the ministry’s goal of 12 million barrels a day.
Halliburton, the world’s second-largest oilfield services company after Schlumberger Ltd (SLB), will provide logistics and technical support for the work aimed at increasing production of existing wells, the company said in a statement.
Halliburton, through a spokeswoman, declined to comment further on its deal with ExxonMobil or disclose the contract’s value. An analyst said the contract could provide a significant long-term boost for the company.
“Iraq is a key area for the company as they continue to gain business,” said Phil Weiss, an analyst with Argus Research in New York. “This is important contract. Overtime this is going to be rewarding for Halliburton and its shareholders.”
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