Archive | Iraq Banking & Finance News

Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.

U.S. Military Budget Climbs to $708 Billion

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 […]

Lawmaker Urges China to Write off Iraq’s Debts

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 […]

British Discuss Iraqi – U.K. Relations

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 […]

‘Britain is Neglecting Iraq’s Economic Future’

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 […]

Announcing Investment Facilities for Chinese Companies

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 […]

COSIT: Unemployment and Poverty Drop in Iraq

Poverty and unemployment levels have fallen noticeably in Iraq during the recent few years, the Central Organization for Statistics and Information Technology (COSIT) said in a report on Sunday. “Covering all Iraqi provinces, a 2008 survey that has been conducted in accordance with recommendations from the International Labor Organization (ILO) has shown that unemployment rates […]

Delegation from 40 French Companies in Baghdad

A delegation comprised of representatives of 40 French companies has visited the Baghdad Investment Commission to become updated on investment opportunities in the capital. “The commission and the delegation have discussed means of furthering mutual cooperation…,” according to a statement released by Baghdad’s provincial council and received by Aswat al-Iraq news agency. The housing, industrial […]

Anbar Official Says 2010 Budget for Province is Insufficient

The head of Anbar’s provincial council on Saturday said that it has received a budget of nearly $1.153 U.S. dollars for next year, adding that it is not enough to finance projects in the province. “The council will inform the ministries of finance and planning of its objection to the lack of financial allocations,” Jassem […]

CBI Dollar Sales Up by 55% on Thursday

The Central Bank of Iraq (CBI) dollar sales rose by 55% to reach $227.190 million in its daily auction on Thursday, compared to $155.251 million during the previous session. “The demand hit $16.480 million in cash, covered at exchange rate of 1,170 Iraqi dinars per dollar, and $210.710 million in foreign transfers outside the country, […]

3 Arab & Foreign Companies Wish to Invest in Karbala

Three delegations of Arab and foreign companies have visited Karbala to implement investment projects in it, a media spokesman for Karbala investment commission said on Wednesday. “The delegations visited the city to be acquainted with the investment opportunities and its needs,” Raed al-Asali told Aswat al-Iraq news agency. “The companies are; a Bahraini interested in […]

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