Monthly Archives: May 2011
Central Bank of Iraq in Connection With Activation of Monetary Agreements With Neighboring Countries
| May 31, 2011 | Filled under Other News |
Baghdad, The Central Bank of Iraq adviser said that the Bank is working to activate the regional monetary agreements with neighboring countries to contribute to the development of the economic reality in the country. He said the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that “the CBI in connection with activation of regional agreements with neighboring countries…
China Exports 1st Oil Shipment From Iraq’s Rumeila Oil Field
| May 31, 2011 | Filled under Other News |
The National Chinese Petroleum Company (NCPC) has announced on its Internet site that it had carried the first crude oil shipment from southern Iraq’s Rumeila Oil Field to China, being part of its joint project with Iraq. “A giant oil tanker has carried 2 million barrels of crude oil from Rumeila Oil Field, heading for China on May 28, from…
Citi, Bank of Baghdad Announce Tie-Up
| May 30, 2011 | Filled under All Dinar Trade Articles |
Partnership to leverage synergies in Iraq DUBAI- Citi, and Bank of Baghdad announced a strategic partnership which offers corporate clients, with major business presence in Iraq, a seamless cash management solution and other relevant banking services. The client offer encompasses account services, domestic and international payments and collections, liquidity management and electronic banking solutions, backed by a comprehensive customer service…
Turkish Company Began Building Power Plants Near Mosul
| May 30, 2011 | Filled under Other News |
Nineveh – The Turkish energy company Lanka began building up five new power plants in the Hamam al-Aleel district and Albu Saif village, 20 km south of Mosul. According to Muhammed Wadallah al-Jabbouri from the Nineveh directorate of energy, the generators will have a capacity of up to 130 MW each and will cost $300 million (349.6bn Dinars). When the contract…
UN Sees Risk of Crisis of Confidence in Dollar
| May 30, 2011 | Filled under Other News |
The United Nations warned of a possible crisis of confidence in, and even a “collapse” of, the US dollar if its value against other currencies continued to decline. In a mid-year review of the world economy, the UN economic division said such a development, stemming from the falling value of foreign dollar holdings, would imperil the global financial system. …
Egypt Iraq Agreement on the Liquidation of the Principal Amount of Orders Zero
| May 30, 2011 | Filled under Other News |
Baghdad, Media advisor to the Minister of Manpower and Emigration, Egypt on Saturday, Iraq and Egypt reached an agreement on the liquidation of the principal amount of remittances to zero, the roughly 637 thousand transfer, valued at $ 408 million, have been outstanding for 20 years. “Said Alaa Awad in a press statement that” The agreement came during a visit…
Lazy Iraqi NGOS at Risk From Tough New Law
| May 29, 2011 | Filled under Other News |
A new law in Iraqi Kurdistan hopes to separate worthwhile NGOs from those who simply provide an excuse for recreation and a venue for drinking tea. Once when young Kurdish men wanted to relax, to drink tea and to enjoy themselves in a clubhouse of their own, they would establish a non-governmental organization, or NGO. Once the organization was licensed, the…
Kurdistan- Some call it .. The Other Iraq
| May 29, 2011 | Filled under Other News |
So, I’m lying on a fluffy white duvet and surfing the flat-screen TV embedded in my hotel room wall. I’ve just finished a meal of Milanese risotto flavored with saffron, washed down with a glass of chilled pinot grigio. Through the window, I can see the twinkling lights of what claims to be the oldest continually inhabited city in the world,…
Direct the Rehabilitation of Major Streets in Kut, at a Cost of More Than 19 Billion Dinars
| May 28, 2011 | Filled under Other News |
Announced that Wasit province directly from a local company as the work of rehabilitation of the main streets neighborhood city of Kut, July 14, at a cost exceeding 19 billion Iraqi dinars, indicating that the project comes within the provisions to accelerate the development of regions and age groups for 2011. The aide said the governor of Wasit of Technical Affairs…
Vietnam and Iraq- Committee meetings Iraqi Vietnamese
| May 28, 2011 | Filled under Other News |
Two days of continuous meetings between the Iraqi Vietnamese under the Convention on trade, agricultural and industrial force between the two sides since 1973 have yielded the signing of a new agreement was on track to set up committees to resolve outstanding issues between the two most prominent of the debt owed to Vietnamese companies as well as to make way…
Central Bank: Requests for the Opening of Branches of Overseas Banks
| May 28, 2011 | Filled under Other News |
Baghdad- City Bank provides one of the largest U.S. banks apply to open a new branch in Iraq. Detection and appearance of the central bank adviser Mohammed Saleh said that other requests came from many international banks to open branches in Iraq, explaining that the Iraqi Central Bank gives licenses to build on the international rankings to the size of…
CBI Confirms the Importance of Exploiting the Government Loans for Development
| May 28, 2011 | Filled under All Dinar Trade Articles |
Baghdad, The Central Bank of Iraq adviser said Friday that the government loans granted to staff in the public sector should be exploited for economic development purposes and not for consumer purposes. He said the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that “government loans granted by the Ministry of Finance to the staff of a number…
Iraq’s Proposed 2012 Budget Based on $85 Oil Price
| May 27, 2011 | Filled under Other News |
BAGHDAD: Iraq’s projected budget for 2012 will be based on a world oil price of $85 a barrel and have expenditure expected at 115 trillion dinars ($102.9 billion), the country’s finance minister said. Finance Minister Rafie Al-Esawi said he saw current oil prices as “good” and that higher-than-expected prices over the past weeks would help to cover Iraq’s budget deficit…
Iraq Moves Up on 2011 Global Peace Index; No Longer Worlds Worst
| May 27, 2011 | Filled under Other News |
A Global Peace Index (GPI ), A retreat in a state of peace in the world in 2011, while Iraq’s progress step to occupy the center (152), leaving the last place as the largest country of Somalia Lacking in the world to peace, noting that the threat of terrorist attacks and possible acts of violence is one of the most significant…
IMF: Iraq’s Gross Domestic Product Last Year’s Record Comparable to What the U.S. Economy
| May 27, 2011 | Filled under Other News |
According to estimates of the International Monetary Fund that the total GDP in Iraq rose by 2.6 percent during the past year, Which is close to the record of the U.S. economy for the same period. UNFPA had projected an increase of 11 percent this year and next year but predicted an expansion to six or seven times over the next…
Iraq Slowly Moves to Modernize Banking
| May 26, 2011 | Filled under Other News |
Eight years on from the U.S.-led invasion of Iraq and with seven months to go until the remaining American combat troops are due to leave, thoughts are turning from guns to butter. In particular, the belated arrival of the international oil companies has boosted Iraq’s hydrocarbon exports and its macroeconomic prospects. The International Monetary Fund forecasts real gross domestic product growth…
Iraq’s Draft Oil Law ‘Needs Overhaul’
| May 26, 2011 | Filled under Other News |
Iraq must overhaul the draft of its long-delayed oil law but will press ahead with developing its petroleum industry while debate on the divisive legislation drags on, Deputy Prime Minister Hussain al-Shahristani said. Investors have been waiting for approval of a hydrocarbon law to guarantee a more solid legal framework for exploration. The law has also been seen as pivotal…
Lebanese Banks Lead Entry Into Iraqi Market
| May 25, 2011 | Filled under Other News |
BEIRUT: While some Western banks are thinking about setting up shop in Iraq, Lebanese banks have been on the ground for the past five years – and more are lining up to get in. Coming from a country with a long history of banking and conflicts, Lebanese have done well in hazardous business environments, both at home and abroad. As…
Iraqi Dinar- Private Banks Criticize the Decisions of the Banking Act and Central Asserts That it is for the Protection of Iraqi Funds
| May 25, 2011 | Filled under All Dinar Trade Articles |
Alsumaria News / Baghdad Confirmed that the majority of private banks in Iraq, Tuesday, the Banking Act, the Iraqi permit banks to government monopoly of the banking business, especially after the release of the new instructions, which calls for private banks to raise their capital to 250 billion Iraqi dinars, at least by the year 2013, while noting that this resolution…
Iraq Opens its Doors for Business
| May 25, 2011 | Filled under Other News |
With growth forecast to hit 11.5 per cent this year, investors are finally looking beyond the oil sector. As populations across the Middle East demand democracy and freedom, Iraq – for so long the region’s horror story – looks to be ahead of the game. The Arab Spring that has swept Iraq’s neighbours has coincided with a new-found sense of…
Drop of Iraq’s Stock Exchange Market Indicator
| May 25, 2011 | Filled under Other News |
Iraq’s stock exchange market indicator dropped on Sunday in the opening of the first session for the present week. Iraq’s indicator settled at 127.98 points at closure at a change rate of up to 0.41% after more than 300 million stocks were circulated while circulation value did not exceed 1 billion Dinar. “The market indicator decreased down to 127.98 points at…
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