Posts Tagged ‘Business and Economy’

Screen Shot 2013-05-05 at 2.01.15 PMIraqi delegation included a number of workers in the Securities Commission and the Iraqi market for securities in the training program and the twenty-third, which was held in Washington.

The head of the delegation and the Executive Director of the Iraqi market for securities, Taha Ahmed al-Rubaie, “Iraq has participated along with 72 countries represented bodies and financial markets of the various countries of the world.”

The program, sponsored by the U.S. Securities Commission SEC exchange of experiences among countries and the establishment of workshops on topics of trading and intermediate control procedures and instructions governing the functioning of financial markets and investor transactions.

http://bit.ly/13aMewv

Published in: 3:45 pm, March 3, 2013 by ipa

BAGHDAD (Iba) .. A member of the Economic Committee MP Salman al-Moussawi, that the strength of the Iraqi dinar and the monetary value depends on the strength of the economy of the country and the extent of recovery sectors of the state’s income-generating and not the central bank auction. (more…)

Wednesday, 07 November 2012 14:58 | | |

Baghdad (AIN) -MP Yousef al-Taie of the Parliamentary Economy Committee revealed collecting 100 signatures to establish the Strategic Economic Council in Iraq. (more…)

Some Iraqi economists are less than thrilled with the idea of a new currency being introduced during 2013, but if the financial committee in Iraq’s Parliament has its way not only will there be new bank notes, but coins will once more be seen in circulation.

Read more: http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=25737

Thousands of Main Street investors, fed up with a stock market that has barely moved in more than a decade, are seeking out heftier returns in more exotic investments.

And then there is Ryan Williams.

Williams, 35, of Bakersfield, Calif., has abandoned US stocks and bonds for one of the chanciest investments on the map: the Iraqi dinar. (more…)

LABOR MINISTRY: UNEMPLOYMENT WILL BE DOWN TO ZERO BY 2016
Iraq, August 6, 2012
Undersecretary of the Iraqi Labor Ministry Dara Yara said Sunday that unemployment in Iraq will be down to zero in the country by 2016 under a new “strategic plan”. (more…)

DEJA VU ALL OVER AGAIN?
IRAQ’S ESCALATING POLITICAL CRISIS
EXECUTIVE SUMMARY AND RECOMMENDATIONS

At first glance, the current Iraqi political crisis looks like just one more predictable bump in the long road from dictatorship to democracy. Every two years or so, the political class experiences a prolonged stalemate; just as regularly, it is overcome. So, one might think, it will be this time around. But look closer and the picture changes.

Read more (PDF ): http://www.crisisgroup.org/~/media/Files/Middle%20East%20North%20Africa/Iraq%20Syria%20Lebanon/Iraq/126-deja-vu-all-over-again-iraqs-escalating-political-crisis


Article 1: After the war; No Electricity but Kuwait Reopens Its Banks

It still has no water and little electricity or food, but Kuwait revived its banking system today, introducing a new currency. Banks reopened for the first time since Iraqi occupation forces shut them down in December. Thousands of people lined up to exchange their old Kuwaiti dinars for crisp new ones and to withdraw a limited amount of money. (more…)

The latest daily currency auction was held in the Central Bank of Iraq on the 29-FEB-2012. The results were as follows:

DETAILS NOTES
Number of banks 21
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 212,814,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 212,814,000
Total offers for selling (US$) —–

The latest daily currency auction was held in the Central Bank of Iraq on the 26-JAN-2012. The results were as follows:

DETAILS NOTES
Number of banks 21
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 199,620,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 199,620,000
Total offers for selling (US$) —–

A caravan of GMCs winds through Jordan. General Motors sees the Mideast, including countries like Iraq, as a market with huge potential for growth.It’s a mostly forgotten story, but GM once planned to build a factory in Iraq. And it’s a mostly obscure statistic, but the company has finally started moving the metal there.

As former GM executive Warren Browne recalls it, the factory was going to produce mid-sized cars, probably Malibus. To hustle the project along, there were five dozen Iraqi engineers working at company headquarters in Midtown.

Read More: LINK

31/12/2011

Yasser Mutawalli
hours the number of fingers and spin clockwise to turn the last page of the year 2011, which culminated in tangible successes against the results of a shy but hopeful and encouraging to move forward towards economic reform is required.

Renewed hope and consensus suggests that the year 2012 will be between Faisal went on stage and the stage hastily draw the desired path to overcome the economic challenges diagnosed paint a road map after the identified weaknesses. Combines most of the economists in the world that Iraq will emerge as the largest economic power, and these expectations loomed Ptbachireha in the headlines newspapers global economic quoted insights of experts and interested parties and stakeholders and their expectations for this role is expected. (more…)

   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 get a new currency up and running in even the most difficult circumstances.

(more…)

On: Sun 12/11/2011 10:42

Baghdad) news) .. said General Manager National Insurance Company of the Ministry of Finance Sadiq Fadhil al-Khafaji, provide cover to ensure security for all aspects of life in accordance with regulations to ensure the rights of citizens to the last detail, referring to the high rate of insurance up to the Iraqis (50%).

He told the reporter Agency (news) said on Sunday: The company adopts advanced mechanisms to protect the lives of citizens in all the details of social and economic return for token sums do not affect the level of family living standards, in addition to the insurance business in different economic sizes. (more…)

Baghdad (news) .. Ministry of Commerce announced the immediate actual direct sale of cars for all citizens after obtaining official approval from the Secretariat of the Council of Ministers.

The general director of the General Company for Trade cars and machinery, Adnan Raza cream (for the Agency news) on Wednesday: that his company received applications for citizens who wish to access to cars by mechanism of direct sales, which worked out by the company after the approval of higher authorities. (more…)

The not-so-overt appreciation in the renminbi — or yuan, as the Chinese currency is more popularly known — is making it an increasingly preferred legal tender in the emerging markets.

On Monday, the People’s Bank of China pegged it 0.03% higher — the fourth consecutive day it has done so — to a record 6.3950 per dollar.

That’s the highest level since 2007, and comes after China reported a mind-boggling trade surplus of $31.5 billion in July, the biggest since January 2009, last week.

Read More:  http://www.dnaindia.com/money/report_chinese-currency-increasingly-becoming-preferred-legal-tender_1576377

Baghdad, Aug. 16 (AKnews) – The Iraqi Communications Ministry announced today that it will launch of the fourth round of license granting for mobile phone companies next week.

The licenses will be granted next week but any agreements will have to be confirmed by the cabinet.

A statement from Communications Minister Mohammed Allawi said that the ministry will only grant licenses to companies that will actually will offer better services for customers and improve the technological infrasctructure.

There have been issues surrounding the licensing round due to clashes between the Communications and Media Commission which was established in June 2004 and is an independent body and the ministry. An unclear delineation of the legal powers of the two bodies has led to confusion and conflict.

http://bit.ly/oXo1g7

Economic analyst called the use of international firms to develop plans and strategies to rebuild Iraq and to the national economy.

Latif said Abdul Salem in a press statement today: It is possible to help foreign companies and international advanced to develop plans and strategies in order to contribute to the reconstruction of the country and the Iraqi economy, noting that administrative red tape is no reason why the Iraqi mentality.

(more…)

The latest daily currency auction was held in the Central Bank of Iraq on the 17-JUL-2011. The results were as follows:

DETAILS NOTES
Number of banks 16
Auction price selling dinar / US$ 1170
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 116,936,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 116,936,000
Total offers for selling (US$) —–

U.S. plan to merge Iraq and Jordan and Egypt, the Gulf Cooperation Council

Saw Anthony Nyukrk in the analysis of it, that the United States is arming Saudi Arabia sophisticated weapons by about a secret, and deal selectively with the current events in the region, noting that the project “Dialogue for the security of the Gulf,” launched by the Bush administration has long-term goal, is to include Iraq, Egypt and Jordan to the Gulf Cooperation Council to get to work the front counter to Iran.

And began by analytical essay, published in the magazine (Eurasia Review), saying that on the 19th of May last, President Barack Obama said that “extraordinary change” sweeping the Middle East.

(more…)

Baghdad announced the Investment Authority, Iraq, Saturday, the opening of the Council of the Iraqi Business U.S. officially in the country, to promote the investment opportunities available in the country, while expressing a senior American official desire for leading his country to the implementation of projects in the country in collaboration with government and private sector.

The President of the Sami Raouf Al-Araji “Alsumaria News” on the sidelines of a meeting of the national investment with the Board of U.S. Commerce, following the announcement of the establishment of the Joint Council, said that “the Commission has discussed with the Business Council of Iraq the U.S. on the investment opportunities available in Iraq,” noting that “the including those related to housing and infrastructure needed by Iraq, as well as other economic sectors such as oil, industry and agriculture. “

(more…)

The latest daily currency auction was held in the Central Bank of Iraq on the 7-JUL-2011. The results were as follows:

DETAILS NOTES
Number of banks 21
Auction price selling dinar / US$ 1170
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 183,845,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 183,845,000
Total offers for selling (US$)

THE CURRRENCY NEWSHOUND

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Must push merger moves and investment incentives
Gulf oil producers need to set a timetable for economic and social reforms to satisfy public needs and avert unrest similar to that in other Arab countries, the head of the region’s private sector said on Monday.

Abdul Rahim Naqi, secretary general of the Dammam-based Federation of the GCC Chambers of Commerce and Industry (FGCCI), said the current political turbulence in the Middle East and North Africa would affect many sectors in the region, on top of which is the domestic economy.

In a statement sent to Emirates 24/7, he said that while unrest has not spilled over into most Gulf Cooperation Council (GCC) countries, they should take measures to revive their economies, get closer together and honour their promise to carry out social, political and economic reforms.

(more…)

The latest daily currency auction was held in the Central Bank of Iraq on the 6-JULY -2011. The results were as follows:

DETAILS NOTES
Number of banks 17
Auction price selling dinar / US$ 1170
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 154,730,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 154,730,000
Total offers for selling (US$) —–

The Currency Newshound Commentary:  Keep in mind this is more of an opinion piece/editorial more so than a news piece from Iraq Business News.  IBN has historically been skeptical of the revaluation of the dinar for quite sometime.  It is fair to say the CBI articles can be confusing and therefore opinions will vary widely.  

At the end of last month, a spokesman for the Central Bank of Iraq (CBI) told reporters that a plan to redenominate the Iraqi dinar will be presented to the Council of Ministers in the near future. (See here and here.) The Council is then expected to submit the relevant legislation to Parliament for a vote. If the lawmakers approve the project, all existing banknotes will be replaced with new currency at the rate of 1,000 old dinar for one new over some unspecified period of time.

Given Parliament’s current backlog, this change can hardly be imminent. Still, you might think they could get around to voting on the CBI’s proposal some time before the end of this year. In that case, the redenomination could presumably be completed by the end of 2012.

(more…)

The latest daily currency auction was held in the Central Bank of Iraq on the 5-JULY -2011. The results were as follows:

DETAILS NOTES
Number of banks 16
Auction price selling dinar / US$ 1170
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 188,200,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 188,200,000
Total offers for selling (US$)

The Currency Newshound

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02/07/2011
Karbala (NINA) – Economy expert said “Iraqi currency change does not have any effect on the value of the Iraqi dinar and economy.”

Alaa Farhan, Dean of Admin and Economics Faculty at the University of Karbala, told NINA correspondent today “the impact of changing the Iraqi currency on economy is very limited because the Iraqi dinar’s value is linked to economic development, not the currency only.”

(more…)

Expert: politicians after 2003 to Aimitlkon that would prepare them for the advancement of the country’s economy
On: Sun 07/03/2011

Baghdad (news) .. carry an economist Majid picture all the politicians responsible for the deterioration of the Iraqi economy after 2003, calling for the exploitation of international relations with the United States for the reconstruction of Iraq.

He said the picture (of the Agency news) that “the political orientation and the visions of others and clear to successive governments in Iraq after 2003 led to the stagnation of the economy and the deterioration of industry and agriculture. And added the picture: There is vast potential for international relations with the United States, must be used for the reconstruction of Iraq.

(more…)

The latest daily currency auction was held in the Central Bank of Iraq on the 30-JUN-2011. The results were as follows:

DETAILS NOTES
Number of banks 19
Auction price selling dinar / US$ 1170
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 175,382,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 175,382,000
Total offers for selling (US$) —–

Baghdad (NINA) – Deputy Prime Minister Rowsch Nouri Shaways discussed today with US ambassador to Iraq, James Jeffery bilateral political and economic relations and means to promote them.

Shaways pointed out, according to a statement issued by his office, that exceptional efforts are being exerted in order to finish the government formation and implement all political agreements.

(more…)