Basra’s Governor Shaltagh Abboud al-Mayyah said on Sunday that he discussed with the Dutch company IPS means of launching investment ventures in the southern Iraq city.
Dutch Firm to Launch Investment Ventures in Basra
Archive | Iraq Banking & Finance News
Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
Iranian Bank Branches in Iraq
Iran's Parsian and Karafarin banks have been granted permits by the Iraqi government to open branches in Baghdad - Iran is the main trading partner of Iraq and has been one of the largest investors in Iraq since the fall of Saddam.
Iraq to Continue to Pay 5% of Oil Proceeds to Compensation Fund
UN Secretary-General Ban Ki-moon on Friday said Iraq must continue to pay five percent of its oil proceeds into the Compensation Fund even if arrangements for the successor Development Fund for Iraq (DFI) are in place and Iraq stated its commitment to settle all debts inherited from the Saddam regime.
Transferring Iraq to a Private-Sector State as IMF applies conditions to grant
Iraq's Finance Ministry Undersecretary, Fazil Nabi, has announced on Sunday that the International Monetary Fund (IMF) is going to push Iraq forward in order to shift into a "private sector" system, in order to grant it a loan to cover the deficit into its state budget.
$250 million to Support Iraq’s Fiscal Sustainability against External Shocks
The World Bank Group’s Board of Executive Directors today approved a US$250 million Development Policy Loan to the Government of Iraq.
Tags: Iraq Budget News, World Bank
Breakdown of Iraq’s 2010 Budget
The 2010 budget is for $71.29 billion and the second largest amount since Iraq regained its sovereignty in 2005. A breakdown of spending shows that operational spending, which goes towards salaries, pensions, and the food ration system is - again - almost ¾ of the budget, and that electricity appears to be the priority of […]
Iraqi government calls on Kuwait to resolve the debts
The Iraqi government has called on Kuwait to end the debts discussion ongoing since the invasion of the former regime in August 1990.
Iraq Central Bank Cuts Key Rate to 6%
Bloomberg reports that the Iraqi Central Bank cut its key interest rate by one percentage point to 6%, to boost economic growth as inflation slows, according to figures posted on the bank's website. The country's real growth in gross domestic product probably slowed to 4.3 percent in 2009, from 9.5 percent the previous year, as […]
Bank Doubles Credit Limit
The Trade Bank of Iraq (TBI) has doubled the maximum value of Letters of Credit it allocates to the private banking sector in Iraq. Last year alone 945 Letters of Credit were allocated to private banks, at a value of approximately $500m. The total number allocated to private banks by TBI is 2,446, at a […]
Turkish interest in Basra
The governor of Basra has met with the Turkish consul to discuss possible investment opportunities in the province, an official statement said on Tuesday. The meeting was also attended by members of a Turkish association, according to a statement released by the governor’s office and received by Aswat al-Iraq news agency. The visit aims to […]
Turks back major residential project.
The Investment Authority in Thi-Qar is about to reach an agreement with private and government banks in the province to provide guarantees to Turkish company Austm. It would provide loans to local investors to construct two residential areas in Shatrah. Head of IPCC, Dr. Ismail Aboudi said that the authority has set up a workshop […]
Committee in Missan to Follow Up Projects
A central committee has been formed in Missan to oversee progress in projects throughout the province. “The committee will help to resolve problems that are facing these projects,” Khalid Abdilwahid Kibian, Missan’s deputy governor, told Aswat al-Iraq news agency on Monday. He said that no projects were executed in Missan during 2009 due to a […]