The Missan governor announced on Thursday new plans and measures to attract investors to the province. “The province mapped out a plan for the current stage to establish investment projects, including parks, hotels and residential compounds,” Mohammad al-Shayaa told Aswat al-Iraq news agency. “The future plans include big infrastructure projects and other projects which need […]
Archive | Iraq Banking & Finance News
Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
Council of Ministers Authorises Finance Minister to use Japanese Loan
The council authorised the minister to invest the remaining amount of the Japanese loan of around $220 million in projects.
Tags: Investment, Japan
Iraq Still Owes Kuwait 24 Bn
Iraq still owes about 24 billion dollars in war reparations for the 1990 occupation of oil-rich Kuwait, a Kuwaiti lawmaker was quoted as saying on Tuesday. Adnan Abdulsamad, head of parliament's budgets committee, said the emirate had so far received 17.5 billion dollars out of the 41.8 billion dollars approved by a United Nations special […]
Finance Minister to Invest Japanese Loan
The Council of Ministers authorized Finance Minister Baqer al-Zubaidi to discuss investing the rest of a Japanese loan with the Japanese ambassador. “The council during its 15th session decided to authorize the minister to discuss investing the remaining amount of the Japanese loan (around $220 million) with the ambassador to determine the projects that could […]
CBI Sells $175m on Tuesday
The Central Bank of Iraq’s (CBI) dollar sales increased to $175.486 million in its daily auction on Tuesday, compared to $93.53 million in the previous session. “The demand hit $7.5 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $167.986 million in foreign transfers outside the country, covered at […]
Basra Council Approves Projects
Basra’s Provincial Council has approved different projects according to the budget of 2010. “The issue of deciding projects according to the 2010 budget will be finalized on Wednesday (April 14),” a source from the council told Aswat al-Iraq news agency on Tuesday. He noted that the projects embrace different sectors in the province. ( Aswat […]
Investment Conference Kicks off in Arbil
A conference to activate the investment sector in Diala kicked off on Tuesday in the northern city of Arbil, head of the Diala council’s investment committee said. “A reconstruction conference began on Tuesday (Arbil 13) in the city of Arbil to activate and encourage investments in Diala and to attract capital to implement important projects […]
China writes off 80% of debts
The Iraqi government signed an agreement with the Chinese government to write off 80% of Iraq’s debts.
Rate Cuts to Boost Lending
Iraq's central bank slashed its base rate by 100 base points to six per cent as of April 1 in reaction to subdued inflation and to boost bank lending, senior advisers at the bank said. The bank's website said that the rate cut - the first in nine months - was effective as of April […]
Dollar Sales Drop to 132m on Sunday
The Central Bank of Iraq’s (CBI) dollar sales reached $132.874 million in its daily auction on Sunday, compared to $167.325 in the previous session. “The demand hit $7.570 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $125.304 million in foreign transfers outside the country, covered at an exchange […]
Economic Agreement with Lebanon
Iraq government spokesman Al Dabbagh said that the Cabinet agreed to give the Minister of Finance the power to negotiate and sign a draft resolution to activate and protect mutual investments between Iraq and Lebanon. Al Dabbagh added that the agreement includes 12 items. It stipulates that each of the contracting parties guarantees fair treatment […]
Iraqi Banking Sector Flourishes
Iraq Private Bankers' League (IPBL) said that the capital of Iraqi private Banks increased from $30 million in 2004 to $1.6 billion today.