Iraq Aims to Limit Inflation

The Iraq Central Bank Governor said that the policy of the Bank is based on encouraging funds to Iraqi banks and not the other way round in order to limit inflation in Iraq. The Iraq Central Bank is keen to raise interest rates to make it equivalent to the rate of inflation in the country […]

Iraq Expects to Step up T-bill Activity in 2010

Iraq expects to step up its Treasury bill activity in 2010 to help plug continuing budget deficits and foster a secondary treasury market, the Central Bank and Finance Ministry said in a submission to the IMF. Iraq, only just emerging from sectarian war but still battling a stubborn insurgency, also wants to develop foreign exchange […]

Investment Gap ID36 Trillion in 2010

The investment gap in Iraq in 2010 is ID 36 trillion, an economist said on Wednesday. “Investment allocations in 2010 are below expectations,” Kamal al-Basri told Aswat al-Iraq news agency on Wednesday. He said that the allocations delay governmental programs and extend Iraqi people’s suffering. (Aswat Al Iraq)

New Airport for Salahuddin

The Iraqi Civil Aviation Board has given its approval for plans for a new international airport in Salahuddin  province, Meed has reported. The $140m airport will have capacity for some two million passengers every year, and will comprise one runway and one taxiway, the Salahuddin Investment Commission said. The airport is expected to open in […]

Claims to Trace the 850 Billion Dinars Dedicated As Social Benefits of the Three Presidential Bodies

The Accountability and Transparency Department, a non-governmental organization, held a seminar on promoting standards of financial transparency in the city of Najaf last week. Mr. Hussein al-Kaabi, head of Accountability and Transparency, said, “One of the foundations of democratic states is the freedom of access to information in order to enhance accountability.” Kaabi said, “The […]

Iraqi Provinces to Reap $1 per Barrel

Iraqi provinces will have the right to reap $1 from each barrel their oil fields produce, the cabinet has announced. The decision is part of the draft projects which need to be approved by parliament before turning into law. Government spokesman Ali al-Dabagh said the government hoped parliament will pass the draft law and that […]

Abadan Exports Exceed 320m litres

Some 322.9 million liters of gas oil have been exported to Iraq via Abadan from March 20, 2009 to March 6, 2010. During the period some 920,000 liters of gas oil were exported daily to Najaf and Baghdad power plants, SHANA News Agency reported on Wednesday. Iran exported some 188 million liters of kerosene and […]

Now the Real Work Begins

Sunday’s election was long anticipated and keenly contested, and it will take many more weeks of negotiations before we finally know how the next government will look. Democracy is hard work, but most now seem to accept that it is vastly preferable to the alternatives. And while the horse-trading continues, it’s essential that those in […]

Iraq Buys Ten 787 Dreamliners

Iraq has signed a deal with Boeing to buy ten  787 Dreamliners on behalf of its flag carrier, Iraqi Airways, the National has reported. The contract was reported on the Boeing website this week, although the deal was apparently concluded on December 22. The aircraft are worth a total of $1.7bn at list prices, but […]

ISX Up 1.2%

The Iraqi Stock Exchange (ISX) index went up on Tuesday by 1.2% to close at 99 points as 13 out of a total of 37 quoted shares traded during today’s session went up. 10 companies’ shares went down, while 14 retained their previous prices. The number of traded shares hit 7.285 billion worth over 8.597 […]

Unauthorized Construction Material Warning

The Ministry of Planning has warned citizens against dealing with unauthorized construction materials, a ministerial statement said on Tuesday. “A source from the Central Organization for Standardization and Quality Control (COSQC) of the Ministry of Planning and Development Cooperation (MoPDC) warned citizens against a number of local and imported goods as they lack basic requirements,” […]

CBI’s Dollar Sales Drop to 85m on Tuesday

The Central Bank of Iraq’s (CBI) dollar sales fell to $85.010 million in its daily auction on Tuesday, compared to $183.530 million in the previous session. “The demand hit $5.01 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $80 million in foreign transfers outside the country, covered at […]