Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
Iraq Business News recently had the pleasure of interviewing the Kurdistan Regional Government's High Representative to the United Kingdom, Ms Bayan Sami Abdul Rahman. Iraq Business News: Ms Abdul Rahman, thank you for taking the time to speak with us today. May I ask you firstly for your opinion about the ongoing protests in the […]
By Tom Cleveland, market analyst for Forex Traders, exclusively for Iraq Business News. Forextraders.com is an online resource for the foreign exchange market. “Buy on the rumor, sell on the news” is a time-honored investment phrase that is oftentimes more confusing than the wisdom it attempts to impart. The meaning relates primarily to company securities […]
An adviser from the Iraqi Central Bank (ICB) said on Thursday that inflation will continue to rise if the Iraqi economy continues its dependence on crude oil revenues. Muzher Mohammed Saleh told AKnews that the inflation will continue increasing unless the agricultural and industrial sectors are stimulated, in addition to supporting local production. "The monetary […]
Iraq's Ministry of State for Women's Affairs, Ibtihal al-Zaidi, told AKnews that the Iraqi Council of Ministers agreed to allocate a proportion of small loans for women. During its recent meeting on granting loans to finance the small enterprises, the Council of Ministers agreed that priority will be given to women supporting families. "The request […]
The Executive Board of the International Monetary Fund (IMF) completed the second review of Iraq’s economic performance under a program supported by a Stand-By Arrangement (SBA) on Friday. Completion of the second review makes an additional SDR 297.1 million (about US$471.1 million) available for disbursement, bringing the total resources currently purchased by Iraq under the […]
Reuters reports that Iraq's core annual inflation rose to 5.5 per cent in February versus 5.3 per cent in January, driven by increases in the cost of power, rental and housing. "February's year-on-year core inflation was 5.5 per cent", Mudher Kasim, a senior advisor at the Iraqi Central Bank, told Reuters. (Source: Reuters)
According to a report from AKnews, a number of bankers in Baghdad have demanded that the Iraqi parliament legislates to regulate and protect their businesses from market changes because of the sudden decisions taken by the Iraqi government. Ali Abdul-Zahra, owner of an foreign exchange bureau, told AKnews that banking in Iraq is still precarious […]
The state-run Trade Bank of Iraq plans to set up a $500 million private-equity fund to invest in projects in the country, and will next month look to identify a global player to act as the fund's general partner, according to a report from Reuters. Hussein Al-Uzri, president and chairman of the bank, said it […]
By T. Keyzom Ngodup, co-founder and Executive Director at Ideas sYnergy, an Iraq based private sector development consulting company. I was pleasantly ‘perplexed’ to learn that Prime Minister Nuri al-Maliki, approved (on February 7, 2011) an agricultural project for developing biofuel from rotting dates. The ‘dates-to-biofuel’ project implemented by an unnamed company based in UAE, […]
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The increase in world crude oil prices this year will add $8 billion [9.6 trillion Iraqi dinars] to the Iraqi budget, the Secretary-General of Iraq’s Council of Ministers said. Ali al-Allaq (pictured) told al-Sabah Newspaper in Baghdad on Tuesday that the increase would result in additional allocations to for the implementation of projects. He added […]
The demonstrations seen throughout Iraq over the past two weeks have so far had no discernable effect on the ISX. As of February 24, the RSISX index had risen 19% year-to-date to a new high for the year. Iraq is now the region’s top performer. This strong performance is not hard to understand. In contrast […]
