Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
Advertising Feature Iraq Business News is delighted to bring you the latest Market Tracker report from Dunia Frontier Consultants. In This Report: Companies Mentioned: DNO, Exxon, Genel Energy, Gulf Keystone, WesternZagros Action Calls Maliki on way to de facto majority government Stability in government, but watch Kurds for Exxon, future of oil in both Kurdistan […]
By T. Keyzom Ngodup, co-founder at Ideas sYnergy. Ideas sYnergy is Iraq’s first multiple bottom line advisory company committed to inclusive economic and social development through market-based solutions that help build and scale youth-driven innovative ideas for social change. Hamada Zahawi’s article on Al Jazeera writes about the TEDxBaghdad conference in Baghdad that focused on […]
Dar Es Salaam Investment Bank, a 70.1% owned subsidiary of HSBC Asia Holdings BV, has sold its 19.465% equity interest in Iraqi insurance company Dar Es Salaam Insurance to Gulf Insurance Company for a cash consideration of IQD1.557bn (approximately US$1.33m). The sale took place on 18 December 2011 and represents the disposal of a non-core […]
The Ministry of Agriculture and Water Resources of the Kurdistan Regional Government (KRG) gave loans to almost 1,500 individual projects in 2011, reports AKnews. Nuri Ismael, The Ministry's loans and marketing director, told the news agency that the agricultural banks in Sulaimaniya, Erbil, and Duhok provinces as well as Garmiyan area have given a total of […]
Iraq's Central Bank says it will not allow the Iraqi dinar to depreciate and has been selling hundreds of millions of dollars to keep the currency stable, according to a report from Azzaman. The dinar weakened in December, prompting the bank to sell dollars in a bid to withdraw cash from Iraqi markets. The bank […]
Security forces in Sulaimaniyah City have detained two people on charges of forging Iraqi money, reports AKnews. The two men were arrested by the security forces with fake money and arms in their possession, after another man who had been detained the previous day on similar charges admitted the charges and identified the other two. The […]
The Statistics Department of Iraq's Ministry of Planning reported on Sunday that that prices rose by 5% for the period November 2010 to November 2011, according to Aswat al-Iraq. Monthly inflation was "increased by 0.1%". The report concentrated on the commodities and services for consumption, including foodstuffs, beverages, clothes, shoes, housing, fuels (benzene, gasoline), household […]
By T. Keyzom Ngodup, co-founder at Ideas sYnergy. Ideas sYnergy is Iraq’s first multiple bottom line advisory company committed to inclusive economic and social development through market-based solutions that help build and scale youth-driven innovative ideas for social change. The youth (ages 18 – 34) constitute over 50% of Iraq’s 32 million population, with over […]
Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement after a meeting with H.E. Nouri Al-Maliki, Prime Minister of Iraq in Washington on Tuesday: It was a pleasure to meet Prime Minister Al-Maliki today. Over the past several years, Iraq and the International Monetary Fund have engaged in a […]
Discussions reportedly took place with the Central Bank of Iraq regarding the dropping of the three zeroes from Iraqi currency. MP Aziz Shareef al-Mayahi, a member of Parliamentary Economic Commission, added that detailed discussions were held on Tuesday with economic experts. The commission will study the suggestions in order to reach a suitable response on […]
Iraq’s Cabinet has approved a federal spending plan of almost $100 billion for 2012. The budget is based on an oil price of $85 a barrel and is smaller than the $112 billion spending plan discussed by the Cabinet in September, which was based on an oil price of $90 a barrel. The deficit will […]
The industrialized world continues to struggle through a prolonged economic crisis. An Iraqi commentator in Berlin considers the impact of this on Iraq and how the country might avoid negative effects of a global recession. in this article from Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views […]
