Monthly Archives: December 2011
ECONOMY: 21 Billion Iraqi Dinars Granted for 2,000 Kurdistan Young Men, as Part of Small Credits
| December 31, 2011 | Filled under All Dinar Trade Articles |
ARBIL / Aswat al-Iraq: The Minister of Labor & Social Affairs in north Iraq Kurdistan Region’s government has said that her Ministry had distributed 21 billion Iraqi dinars among 2,000 Young Men, being part of a project for granting small credits, aimed at putting an end for unemployment in the Province. “Our Ministry has managed till now to spend more…
UAE’s Piling Tech Wins $10m Lukoil Contract in Iraq
| December 31, 2011 | Filled under Other News |
DUBAI – Piling Tech, one of the subsidiaries of the business conglomerate Tech Group, said that it has won its first oil sector contract in Iraq, valued at $10 million from Lukoil, Russia’s second-largest oil producer. Under the terms of the agreement, Piling Tech will be involved in the installation of piles, foundations and wells for the West Qurna-2 oil…
A Moderate Official at Risk in a Fracturing Iraq
| December 31, 2011 | Filled under Other News |
Rafe Essawi, is the man in charge of Iraq’s finances, a moderate Sunni doctor who greets his guests and denounces his foes in practiced English. He may also be the next leader to fall as the country’s Shiite prime minister takes aim at perceived rivals and enemies, his fate a litmus test for a country in crisis. Unlike other Sunni…
Iraq’s Economy Will Become the Fastest Growing in the World During the Next Decade
| December 30, 2011 | Filled under Other News |
Expected number of foreign investors, on Thursday, to increase foreign interest in Iraq’s fledgling stock exchange next year after the main index jumped more than 30 percent this year, noting that Iraq’s economy will become the fastest growing in the world during the next decade. And renewed tensions within the Iraqi government immediately after the withdrawal of troops, raising the…
Foreign Business Quadruples in Iraq This Year
| December 30, 2011 | Filled under Other News |
WASHINGTON US investment and other business in Iraq has quadrupled this year despite concerns over violence and sectarian rivalry as the last American troops withdrew from Iraq. US companies reached deals worth $8.1 billion through December 1, up from $2 billion last year, according to Dunia Frontier Consultants, which studies emerging markets. The surge follows a number of years…
Iraq Offers Good Prospects for New Construction Activities
| December 30, 2011 | Filled under Other News |
Dubai Political and security issues may be playing out in the backdrop, but the prospects for immediate work offered by Iraq’s construction activity have the UAE’s contracting companies scouting for more. “Certainly there are major projects in the pipeline; we will soon be announcing some we have been contracted which are in the finalisation stages as we speak,” said Ali…
Greek Lessons from Baghdad
| December 29, 2011 | Filled under Other News |
Earlier this year Financial News investigated a series of historical currency union break-ups, asking whether they could offer guidance for policymakers required to plan for a potential fracturing of the eurozone. However, if the worst happens and European states have to resurrect their drachmas, pesos and escudos in 2012, there is one lesson from more recent history about how to…
South Korea Shipyards to Boost Iraq’s Merchant Marine
| December 29, 2011 | Filled under Other News |
BAGHDAD – The Transport Ministry said that it had agreed with South Korean Doosan company to buy three 17,000 tonne vessels at a cost of $73 million USD (85 billion IQD). The director of Marine Shipping Company Samir al-Karkhi told AKnews the Ministry of Transport is making efforts to restore Iraq‘s merchant fleet, adding that the three vessels will begin…
Exxon Mobil Deal Hikes Tension in Northern Iraq
| December 28, 2011 | Filled under Other News |
An oil exploration deal between U.S. oil giant Exxon Mobil and Iraq’s autonomous Kurdish region is fueling political tensions in a country where a post-U.S.-troop withdrawal spike in violence and political turmoil is clouding the climate for foreign investments sorely needed by Iraq. Baghdad’s anger over the deal highlights the long-simmering power struggle between the Kurdish and central governments. The…
Iraq is Lucky to Have al-Maliki
| December 28, 2011 | Filled under Other News |
Perhaps the extremists, or the ideologues, are not the only ones who are lucky with regards to the presence of Iraqi Prime Minister Nuri al-Maliki, rather everyone who is committed to the unity of Iraq, the survival of the political process there, and the avoidance of sectarianism, is lucky to have Nuri al-Maliki as a prime minister. This is because…
Bankers are Demanding the System Using the Divider in the National Banks
| December 27, 2011 | Filled under Other News |
Baghdad / economic-term follow-up to the bankers called for the need to adopt modern technologies in the banking system through the use of divided national or so-called “national key”, to facilitate the exchange of instruments and payments between them. And demanded the talk of the Agency (news) on the importance of developing outreach programs and awareness of the citizen in…
Trade Bank of Iraq: No Truth to the Trusteeship Status
| December 27, 2011 | Filled under Other News |
BAGHDAD – Al Sabah Expressed Trade Bank of Iraq surprised the press statements regarding the status of guardianship by the Central Bank at the time of the bank to achieve many achievements in various economic fields in the country. The Director-General of Trade Bank of Iraq Hamdiya dry: that the media organs accuracy of fire information and inquiries from…
Call to Dissolve the Parliament is Personal, MP
| December 27, 2011 | Filled under Other News |
BAGHDAD / Aswat al-Iraq:Ahrar parliamentary bloc chairman Baha’ al-Araji stressed that his call to dissolve the parliament and renew the elections are his pers26onal opinion, not his bloc. Araji told Aswat al-Iraq confirmed this point, at a time he stated, earlier, for dissolving the parliament , due to the critical political chaos prevailing in the country. Iraqi political arena…
Jaafari, “in a Joint Conference with the Kubler”: Must Save Iraq from Chapter VII
| December 26, 2011 | Filled under Other News |
Baghdad (news) .. Dr. Ibrahim al-Jaafari, head of the Iraqi National Alliance with the Representative of the Secretary-General of the United Nations, Martin Kobler, in his office in Baghdad, the UN’s role in the post after the withdrawal of U.S. troops and remove Iraq from Chapter VII. A statement by Jaafari’s office has received the Agency (news) a copy of…
Symposium on the Deletion of Zeros from the Iraqi Currency in the Economy at the University of Qadisiyah
| December 26, 2011 | Filled under Other News |
Diwaniyah (Iba) .. Organized by the Faculty of Management and Economics at the University of Qadisiyah, specialized scientific symposium for the deletion of zeros from the Iraqi currency and its implications in the Iraqi economy. A source at the university, said the seminar included a lecture entitled to delete the zeros of the Iraqi currency and raised on the Iraqi…
Erbil $21m Silo Under Construction
| December 26, 2011 | Filled under Other News |
ERBIL, (AKnews)- A new silo with the capacity of storing 60,000 tons of wheat is under construction. Faris Majid, an advisor for Iraqi Kurdistan Regional Ministry of Trade and Industry, told AKnews that the new project- worth of 21.072 million U.S. dollar- occupies 70 acres on a plot located on Erbil- Gwer road, to the west of Erbil province. …
Baghdad: Expert Expects Lower Inflation Rates
| December 25, 2011 | Filled under Other News |
Baghdad (news) .. Suggested an economic expert peace Sumaisem lower rates of inflation in the Iraqi economy in the coming period, explaining the reasons for rise in the current period to pump large amounts of cash to the Iraqi market. The Sumaisem in a statement to the Agency (news) on Saturday: that the reasons for increased rates of inflation in…
The Central Bank Intends to Establish a Trade Bank of Iraq Under the Tutelage
| December 25, 2011 | Filled under All Dinar Trade Articles |
Baghdad / follow-up term economic In the remarkable development the central bank of Iraq’s intention to subject the Trade Bank of Iraq (TPI) to the guardianship of him in the event did not improve his financial situation in a few months, stressing the need to restore the bank all loans and build policy lending new. The deputy governor of…
Investor Guides Assist Opportunity Seekers
| December 24, 2011 | Filled under Other News |
In his joint press conference with Iraqi Prime Minister Nouri al-Maliki on December 12, 2011, President Barak Obama noted that “In the coming years, it’s estimated that Iraq’s economy will grow even faster than China’s or India’s.” Foreign and regional investors interested in Iraq’s economic potential, but uncertain about the country’s investment regulations, arbitration laws and tax structure, should consider…
Baghdad to Build American University
| December 24, 2011 | Filled under Other News |
Baghdad Council has announced that it had agreed to build an American university at a cost of $245 million USD (286 billion IQD) in the Bismaya area southeast of the capital. The Chairman of the Council’s Planning and Follow-up Commission, Mohammed al-Rabie, told AKnews the faculty will be limited to science, engineering and medicine and it has the approval of…
Days After the Fluctuation of the Value of Iraqi Dinar Central Bank Announced its Control on the Market Again
| December 23, 2011 | Filled under Other News |
To pump nearly a billion dollars to the Iraqi market during the four-day strike was made by the Central Bank of the market, currency speculators in order to regain control of the Central Bank on exchange rates, which saw excessive vibration during the last week and are delivered Bdilalh on the value of Iraqi dinar, which dropped its value against the…
IEA Expects Iraqi Oil Boom
| December 23, 2011 | Filled under Other News |
PARIS, Iraq is expected to account for as much as 80 percent of the anticipated production increase from OPEC members, the IEA estimates. The International Energy Agency in its latest monthly oil report estimates crude oil production from Iraq is on pace to increase 1.87 million barrels per day from 2010-16. This means that by the end of the timeframe,…
Iraq Gives U.S. Companies a Contract Worth $640 Million in the Zubair Field
| December 23, 2011 | Filled under Other News |
Erbil, (Rn) – The Iraqi government said it awarded a contract to U.S. company states worth 640 million to drill 60 wells in the Zubair oil field in southern Iraq. It quoted “Reuters” Iraqi government spokesman Ali al-Dabbagh as saying that “Iraq granted a three-year contract worth $ 640 million to U.S. oil services company Baker Hughes to drill 60…
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