Monthly Archives: July 2011
Russia Faces Price Battle as Iraqi Oil Output Grows
| July 31, 2011 | Filled under Other News |
LONDON: Five large Iraqi oil cargoes are heading to Europe this and next month in a rare development that is the opening shot in a pricing war with rival Russia and could help to bring down high oil prices. The exports of Iraqi Basra oil, an unaccustomed guest in Europe, were triggered by a US oil stocks release in June…
Changes to BP Oil Contract Will See Govt Pay Even When Oil Not Produced
| July 31, 2011 | Filled under Other News |
Erbil, (AKnews) – Controversy has been sparked by the discovery that the Iraqi government has agreed to pay BP even when oil is not being produced at the Rumaila field. The original contract has been rewritten to allow BP to continue charging the government in the case of any civil disruption or decisions that stop production (which could include Opec…
CBI Begins Assessment of Private Banks Throughout the Country
| July 31, 2011 | Filled under Other News |
Baghdad, Deputy Governor of Central Bank of Iraq, the Bank began to assess the work of 27 private banks throughout the country. The appearance of Mohammed Saleh told the Kurdish news agency (Rn) that “the Iraqi Central Bank began to assess the performance of 27 private banks in accordance with system CAMEL, which depends on capital and Assets, deposit, liquidity…
Iran, Iraq, and Turkey Sign Bank Agreement
| July 30, 2011 | Filled under Other News |
Iran, Turkey, Iraq ink $200m deal to establish joint bank TEHRAN – Iran, Turkey, and Iraq have signed a memorandum of understanding to invest $200 million to establish a joint bank. The MOU was inked on the sidelines of the Tehran international construction fair (Confair 2011), the Fars News Agency reported. The agreement is meant to facilitate capital…
UN Pays Out $1 Billion From Iraqi Oil Fund to Compensate Victims
| July 29, 2011 | Filled under Other News |
GENEVA—A U.N. panel has approved more than $1 billion in compensation payments for victims of Iraq’s 1990 invasion of Kuwait. The U.N. Compensation Commission says the money will go to five companies and four government or international bodies. It did not disclose the identities of the claimants Thursday but said all are in Kuwait. The panel made up of…
Al-Mansour Bank Opens in Najaf
| July 29, 2011 | Filled under Other News |
The opening of Al-Mansour Bank with a capital estimated at (100) billion Iraqi dinars in Najaf Within the economic and physical preparation for the celebration of Najaf, the capital of Islamic Culture 2012 opened in the province of Najaf, Al-Mansour Bank investment paid up capital is estimated at (100) billion Iraqi dinars, which provides services, current accounts and providing loans,…
Fund Manager Sells Iraqi Success Story
| July 29, 2011 | Filled under Other News |
INVESTING in Iraqi banks is probably a better bet than investing in the UK’s embattled banking sector, according to Swedish fund manager FMG. Henrik Kahm, the manager of FMG’s Iraq Fund, was in Glasgow yesterday on a mission to drum up investor interest in his fund, whose value has risen by more than 25% since it was launched in May…
IRAQ ON TRACK IN CONTRIBUTING TO FUTURE WORLD ENERGY SUPPLY
| July 28, 2011 | Filled under Other News |
2nd Basra Oil & Gas 25-28 November 2011 Basra International Fair Ground, Al Maqal Port, Basra, Iraq Perfect meeting point for all parties interested to play an effective role in the shaping of the future of Iraq’s oil & gas industry. 2nd Basra Oil & Gas has exceeded all expectations and has proven it is going to…
Is The Iraqi Dinar Worthless Paper Or Maker Of Millionaires?
| July 28, 2011 | Filled under All Dinar Trade Articles |
Dozens of people have signed up for tax consultations with me over the years looking for a windfall profit on the U.S. government revaluation of the Iraqi dinars back into U.S. dollars. In other words, these were people holding dinars who were hoping they could exchange them for dollars again. Most dinar investors are current and ex-military, warzone contractors and…
Petition Begins in Najaf; Campaign for Oil Revenue Profit Sharing to Iraqi Citizens
| July 28, 2011 | Filled under Other News |
Najaf: collect call to collect signatures for the allocation of (100) per month from oil revenues to every Iraqi citizen Wen called for gathering people’s money began in Najaf in his campaign To collect signatures To allocate (100) per month from oil revenues to every Iraqi citizen like other oil-producing countries such as Saudi Arabia, Kuwait and Iran. Hadi…
Iraqi Dinar ~ Removing 3 Zeros .. To Rein in Inflation, Bring Down Prices, Get Rid of Larger Notes !!!
| July 27, 2011 | Filled under All Dinar Trade Articles |
Ahzvo three zeros and stay tuned results Moving the monetary authority in Iraq, led by the Iraqi Central Bank to raise three zeroes from the national currency in circulation and the target as they say, to rein in inflation and bring down prices and the disposal of large blocks of cash. This action or this experiment passed by several…
Iran to Raise Electric Power Supplies for Iraq to 1,250 Megawatts
| July 27, 2011 | Filled under Other News |
Baghdad, Iran has raised its electric power supplies for Iraq to 1,250 megawatts, according to a recent agreement between the two neighboring countries, the Iranian Energy Minister, Majid Namho told the semi-official Mehr News Agency. Mehr quoted the Iranian Minister, in a meeting in Tehran with Iraq’s Electricity Minister, Raad Shallal Saeed al-Any, that “Iran’s power exports for Iraq, now…
Senior Banker Calls for the Activation of the Reality of the Work of Private Bank
| July 27, 2011 | Filled under Other News |
BAGHDAD – Hussein al-Tamimi Tgb Continue to put forward ideas and proposals for promoting the private sector, and its role during the phase of economic transformation taking place in Iraq, to become oriented economic action as a whole, as happens in democratic countries, especially in the private banking sector, which began to demand a bigger role in the economic field.…
$51bn Investment Budget Sought for Iraq
| July 26, 2011 | Filled under Other News |
Iraq needs to boost its 2012 investment budget to as much as 60 trillion dinars ($51 billion) from a planned 40 trillion dinars, to allow funds for new projects, the planning minister said. Iraq has been starved of investment during the years of conflict triggered by the 2003 US-led invasion to topple Saddam Hussein and the process of rebuilding has…
Economists Analyze the Reasons for the Recent Rise of Inflation Rate
| July 26, 2011 | Filled under Other News |
Varied readings economists Iraqis regarding the reasons for the high rate of inflation is the basis for the month of June, which amounted to 6.4% according to a statement the Iraqi Central Bank’s measure indicators of inflation. In his analysis of the Radio Free Iraq on the impact of high inflation on the economies of the ordinary citizen and the…
Economist: The Return of the Coin Guide to Control Inflation
| July 26, 2011 | Filled under All Dinar Trade Articles |
Baghdad (news) .. was considered an expert economic peace Sumaisem work to re-coin evidence of controlling inflation, as well as to improve the value of the Iraqi currency. The central bank decided to introduce coins as part of his plan to restructure the currency, which requires government approval and the Council of Representatives as they plan strategy will contribute to…
Director of Iraqi Islamic Bank: Political Differences Should Not Impede Economic Progress
| July 25, 2011 | Filled under Other News |
Banking expert’s (the future of Iraq): You must to keep the economy from political differences Expert called a bank for political blocs to keep economic matters for their conflicts of political circuit and affecting the economy of helplessness and confusion, criticizing at the same time the government and the House of Representatives not to pass laws that help the private…
UAE Billionaire’s 3km Long Name on Earth is Visible From Space
| July 25, 2011 | Filled under Other News |
Billionaire – who bought world’s most expensive car – owns Al Futaisi island off Abu Dhabi city The UAE billionaire – who recently bought the world’s most expensive car for Dh9 million – has carved his name on an island near Abu Dhabi. Reports says that the name is so massive that it’s spread over three kilometres with each…
Prime Minister Announces Near the Application of Tax Law and Customs Tariff
| July 25, 2011 | Filled under Other News |
Baghdad, announced that the Prime Minister, Sunday, close the application of tax law and customs tariff to include primarily the goods and imported goods, which can be manufactured locally, as indicated to the exclusion of goods with a direct contact with the lives of citizens. The Economic Adviser to the Prime Minister Abdul Hussein Al-Anbuge in an interview “Alsumaria News”,…
CBI: Bank of Stable Sales and Fears for the Value of the Dinar
| July 24, 2011 | Filled under All Dinar Trade Articles |
An official at the Central Bank of Iraq said that a stable sales and concerns on the value of the dinar. And Iraq in 2006, decided to restructure its banking sector to allow direct investment in banks and drop the debt accumulated by state-owned banks. The appearance of Mohammed Saleh, a consultant for the bank in a press statement,…
Citizens Prefer to Buy Air Coolers and Low Power
| July 24, 2011 | Filled under Other News |
Because of the absence of the national electricity BAGHDAD – Hussein al-Tamimi Tgb A number of citizens and owners of shops selling electrical appliances, the high demand for air coolers that work depending on the currents of energy low-lying, especially that most Iraqi homes started Tatmdaly lines generators civil access to energy Alkahrbaúbh of the house, despite its negative…
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