The Central Bank of Iraq’s (CBI) dollar sales reached $185.485 million in its daily auction on Monday, compared to $130.669 million in the previous session. “Demand hit $14.08 million in cash, covered at an exchange rate of 1,170 Iraqi dinars per dollar, and $171.405 million in foreign transfers outside the country, covered at an exchange […]
Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
The Iraqi Ministry of Finance has given instructions to the Rasheed and Rafidayn banks to grant loans to full-time government employees. “The amount available is 5 million Iraqi dinars with an interest rate of 6% to be repaid within five years,” an under-secretary of state for banking affairs, Diyaa al-Khayoon, told Aswat al-Iraq news agency.
Russian “Gazprom” plans to issue $ 10 billion bonds 2010 to 2015. The organizer and the Under-guarantor of the bonds to be found by competitive tender. It is expected to raise between $ 167 million and $ 334 million at a nominal value of $ 33 .33 for a period of between one and three […]
The administrative board of the Extractive Industries Transparency Initiative (EITI) has unanimously agreed to accept Iraq as a member, the Iraqi Ministry of Oil said on Thursday. The administrative board, comprised of 20 members, includes representatives of the permanent states, civil society organizations and extractive companies, according to a ministry statement received by Aswat al-Iraq […]
Iraq plans to knock three zeros off the nominal value of bank notes to facilitate currency transactions, a central bank official said on Thursday. Iraq is trying to revamp its economy and boost oil production after the effects of the war with crude deals that may vault it to one of the world’s top oil […]
The Obama administration sent Congress its proposed military budget on Monday, requesting $708 billion for fiscal 2011, including $159 billion to support operations in Iraq and Afghanistan. The base budget is a 3.4% increase from the prior fiscal year at $549 billion, or 1.8% real growth after adjusting for inflation. Accompanying the budget proposal is […]
The Ministry of Finance said on Saturday, that its minister instructed firing 20% of the investment budget for 2010 for the continuity of work of ongoing projects of the province of Baghdad. The ministry statement said the two sides reviewed “the most prominent projects implemented by the province of Baghdad in 2009 and preservation plans […]
An Iraqi lawmaker on Monday called on China to cancel the debts owed by Iraq to it and to contribute to investment projects in the country. “China has been delaying the cancellation of Iraqi debts until the departure of the United States from the country…,” MP Sami al-Atroushi from the Kurdistan Islamic Union told Aswat […]
Iraqi Finance Minister Baqir al-Zubaidi and the British ambassador to Iraq discussed Iraqi–U.K. political and economic ties, and methods to reinforce them. “Minister al-Zubaidi called on British firms to participate in rebuilding Iraq,” said a release issued by the Ministry and received by Aswat al-Iraq news agency. For his part, the British ambassador stressed his […]
The Ministry of Finance in Iraq signed a bilateral agreement with Denmark to write- off the debt owed by Iraq by one 100%, and affirmed that States which will reduce debts on Iraq would have a priority in the implementation of investment projects in it. The Finance Minister Bayan Jabr said in a statement issued […]
Whatever one’s views about the Iraq war and its legitimacy (the Chilcot Inquiry is grandstand viewing in that respect); all of us have a common belief that we have a duty to assist in the reconstruction of Iraq and in developing its economic future. It is clear, however, that British business is punching well below […]
President Jalal Talibani met yesterday with the Ambassador of the People’s Republic of China in Iraq Chang yee and his accompanied delegation with attendance of Kosrat Rassoul, Kurdistan Region Vice President. At the meeting, President confirmed Iraq’s readiness to present facilities for the Chinese companies to prompt their investment intentions in the country. Both officials […]