Baghdad, (AKnews) – The Iraqi Ministry of Electricity announced on Sunday that the country imports currently 550 Megawatts of electricity from neighboring countries, after it was imported energy was cut from Turkey that was 250 Megawatts due to expiration of the contract, which was one year. The media spokesman of the ministry , Musab al-Mudares tod AKnews that supplying 500 MW […]
Baghdad, (AKnews) – The Central Bank of Iraq (CBI) adviser, announced on Sunday that the Iraqi government can fill the deficit in 2011 budget by borrowing from their deposits in government banks. The Iraqi government has approved the draft of the federal budget law for the fiscal year 2011, so that the budget amounts to 79.6 billion dollars, by calculating per […]
“Contributed to enter Hussein in the Guinness Book of Records”, the title banner white wrote down the call in both Arabic and English, and appropriate, try to form a longer banner of cloth on behalf of Imam Hussein gathered the largest number of signatures of visitors forties heading to Karbala at the start of their march from Najaf, in preparation to […]
Trade Ministry said Saturday that the WTO is legislation package approved by the Iraqi Council of representatives to support trade policy in the country. “Iraqi negotiator, Director General of the Ministry’s economic relations that Hashem Hatem “ delegation briefed at Geneva Director negotiator Omar al-hilali latest legislation approved by the House like alkmerket tariff law and Consumer Protection Act and law […]
With the Iraqi Economy Screaming Into High Gear, US Firm USP&E Global Wins $200m Power Station Engineering, Equipment Procurement and Construction Project in Iraq. Dallas-based USP&E Global announced in January 2011 that they have been awarded a $200 million LOI for a unique portable diesel power station package that it is pioneering for projects in Iraq and all over Africa. CEO […]
BASRA, Iraq — On a bleak stretch of desert near the Iraq-Kuwait border — half a world away from the Gulf of Mexico and last year’s nightmarish blowout — BP is riding high, rapidly developing one of the world’s richest oil fields. The British energy giant plans to drill 3,000 new wells here in 10 years and build a town from […]
BASRA, Iraq — On a bleak stretch of desert near the Iraq-Kuwait border – half a world away from the Gulf of Mexico and last year’s nightmarish blowout – BP is riding high, rapidly developing one of the world’s richest oil fields. The British energy giant plans to drill 3,000 new wells here over the next 10 years and build a […]
Alsumaria News / Baghdad- Announced that the General Company for Maritime Transport of the Ministry of Transport, Saturday, announced a plan to invest yacht presidential through the study of art and developed for this purpose, revealing a quest to restore all the ships in the Iraqi abroad, including Bachrti Balqees in Libya and Zahra in Germany. The general director of the […]
On January 27, the VND/USD exchange rate on the free market in Hanoi traded at 20,930 – 21.000 dong/US dollar (bid and ask), according to Lao Dong newspaper. Compared with the exchange rate that was quoted on the banking system at 19.500 dong/US dollar, the exchange rate on the free market is now higher than 10.7 percent. Statistically, the difference of […]
Says international currency system is ‘product of the past’ China President Hu Jintau told the Wall Street Journal in Beijing, before the start of his visit to the United States last week, that the international currency system was “a product of the past,” created a long time before the Chinese yuan was accepted as an international currency. Hu also criticized the […]
Old, friendly and unique ties have existed for some time between Iraq and Japan. Iraq’s economic partnership with Japan had a renaissance in the 1970s and 1980s, when Japan was Iraq’s leading trade partner. The government of Iraq intends to rebuild stronger political, economic and social relations between the two countries. Japan’s support for Iraq after 2003, in the form of […]
Announced that the Rapid Reaction Forces of the Interior Ministry in Wasit province, on Thursday, the arrest of a police charges of dealing counterfeit currency, possession and seized large quantities of which the center of the city of Kut. The commander of the Rapid Reaction Force submitted Aziz emirate in an interview for “Alsumaria News”, “security force, a regiment II of […]
The president twice referred to Afghanistan when clearly talking about the situation in Iraq. Washington (CNN) — President Barack Obama experienced a rare speaking stumble Thursday, mixing up Iraq and Afghanistan when responding in a YouTube interview to questions challenging the wars in those countries. The president twice referred to Afghanistan when clearly talking about the situation in Iraq. He said […]
BAGHDAD / Aswat al-Iraq: Iraq’s Prime Minister Nouri al-Maliki has called on Wednesday for the laying down of a strategic plan for boosting cooperation with Russia in investing in the oil and gas fields, whilst a Russian economic official said that “time has come for his country’s companies contribution in the Iraqi energy sector,” according to a statement by Iraq’s Council […]
France offering 18 mirage fighters to Iraq BAGHDAD (AFP) France has proposed to sell 18 Mirage fighters to Iraq, which is already negotiating a deal for U.S. F-16s to protect its skies after U.S. forces pull out at the end of this year, the French ambassador said on Thursday. “France has proposed to sell 18 Mirage F1 retrofitted aircraft that can […]
BAGHDAD (Reuters) – Iraqi journalists who have survived deadly threats through years of war and insurgency now face a new challenge — whether to accept cash “bonuses” from the government, and even cheap flats and free land. The $1,000 bonus scheme was first proposed in 2007 but is only now being paid, while the under-priced apartments in Baghdad or plots of […]
* Iraq cabinet approves four gas units * To boost Iraq’s power capacity by 500 MW BAGHDAD, Jan 27 – Iraq’s Ministry of Electricity said on Thursday it had awarded a $219 million contract to South Korea’s Hyundai Engineering & Construction to install four gas turbines in Baghdad. Laith al-Mamury, the head of investments and contracts at the ministry, said the […]
BASRA, Iraq — On a bleak stretch of desert near the Iraq-Kuwait border — half a world away from the Gulf of Mexico and last year’s nightmarish blowout — BP is riding high, rapidly developing one of the world’s richest oil fields. The British energy giant plans to drill 3,000 new wells here over the next 10 years and build a […]
Iraq’s financial markets are showing serious signs of a recovery after more than a year of depressed activity and malaise. An Iraqi stock exchange index has rallied by more than 11.5 per cent in the last three weeks and banks are lending more to local companies as the government appears to be stabilising. Trading volumes have risen to between US$2 million […]
LONDON (SHARECAST) – Heritage Oil has uncovered the largest gas field to be discovered in Iraq for more than 30 years, but the news took the market by surprise as the field had been expected to contain oil rather than gas. With testing of the Miran West-2 well in Kurdistan complete, management believes the Miran field is the sixth largest gas […]
Iraq is the new Middle East destination for business and investments. Being one of the richest countries in oil and gas, as well as emerging from years of war, the economic growth being experienced all together puts Iraq under the spot light, says Khaled Saqqaf at Al Tamimi & Company. Most foreign companies wishing to do business in Iraq are interested […]
Long-term growth will continue to depend on crude output and thus on fluctuating international price. With the price of crude hitting $100 per barrel, Kuwait appears to have no worries on the fiscal front. The same cannot be said, however, of its political firmament. An estimated 94 per cent of revenues come from oil exports by the Organisation of Petroleum Exporting […]
The Ministry of Planning in its report that inflation rates have risen by 3.3 per cent in 2010 compared to 2009 due to the growing cluster of cash. A spokesman for the Ministry of Planning Abdul-Zahra al-Hindawi said that the ministry had approved the prices of goods and services components of the consumer basket for a selected sample of outlets in […]
The Iraqi Government to Restructure Government 180 Companies
Baghdad / January (Rn) – An economic adviser to the prime minister said Sunday that the Iraqi government began the restructuring of the 180 companies to enter the general area of the world market through the road map will continue until the year 2015.
“Abdul Hussein Al-Anbuge of Kurdistan News Agency (Rn) announced today that” the Iraqi government began to re-Hecilp 180 companies including General Government 3000 employees over the next five years in coordination with the United Nations and international organizations. “
He Anbuge that the “road map designed to develop the work of public companies and ratified by the Council of Ministers and came into force to start the work to convert large state-owned companies to market companies and rub the concept of profit and loss.”
He said, “the advisers in the prime minister is responsible for the completion of restructuring of these companies in coordination with the ministries and agents and directors of public companies to develop appropriate mechanisms for starting the project reformist,” pointing out that “Iraq is looking forward to building the institutions of industrial and commercial subject to the market system the World Economic similar institutions operating in the economically advanced countries of the world and similar to the situation in Iraq. “
The Iraqi prime minister announced earlier that Prime Minister Nuri al-Maliki ordered the formation of an executive committee to take it upon themselves to prepare a detailed study about the reality of state-owned factories and the development of an appropriate mechanism for their development.
Referred to the Finance Ministry warned earlier in the continuation of the “lost” Iraq to the domestic industry, after review the work of factories and laboratories Iraqi state-owned and mixed public and private sectors.
The reports indicate the non-governmental organizations concerned with the economic aspect that Iraq has lost since the last four years more than $ 180 billion because of its reliance on imported goods as a result of the decline in its domestic industry.
The results of the survey conducted recently by the Ministry of Planning and Development Cooperation in collaboration with the Ministry of Labour and Social Affairs of Iraq, that the unemployment rate among the population aged 15 years and over of 28.1% for both sexes, the survey indicates that the unemployment rate for males stood at 30.2% versus 16% for women.
According to a report on the results of a survey of employment and unemployment rate of unemployment in urban areas, 30% versus 25.4% in rural areas.
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