The mayor of Talafar said on Tuesday that the economic activity in Talafar has recovered recently because of the security stability in the district. “The commercial movement has returned to the Talafar’s markets after the recent security stability in the district,” Abdulaal al-Ubeidi told Aswat al-Iraq news agency. “We hope to regain our position as […]
Archive | Iraq Banking & Finance News
Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
Basra Governor talks to French
The governor of Basra has met with the French ambassador in the country, Boris Boillon, to discuss means of boosting economic and cultural cooperation. “The meeting with the French ambassador and his accompanying delegation, which took place today, tackled bilateral relations between France and Iraq…,” Governor Shaltagh Abboud al-Mayyah told Aswat al-Iraq news agency. The […]
Corruption Cases Focus on Americans
More than 50 corruption cases have been opened in the last six months by U.S. investigators looking into the dealings of Americans involved in the $150 million Iraq reconstruction project. Some of the cases concern suspects who allegedly mailed tens of thousands of dollars to themselves from Iraq or who stuffed money into duffel bags […]
Iraq Welcomes Chinese
Iraq is keen to see China play a bigger role in the reconstruction of the war-torn country, the country's top envoy to Beijing has said. "After 2003, China has supported us very much and reduced Iraqi debts by 80 percent, which is greatly appreciated," Iraqi Ambassador Mohammad Sabir Ismail told China Daily in an interview […]
No Time Fixed for Dinar Rebase
The Central Bank of Iraq is planning to rebase the Iraqi dinar but hasn't decided yet on the timing of the move, the bank said in a statement Monday. "The Central Bank affirms its commitment to its strategic projects, particularly knocking three zeroes from the Iraqi dinar," the statement said. "Despite the technical and logistical […]
2007 Final Account of Iraqi Government Released
The Board of Supreme Audit on Monday said it has released the final account of the Iraqi government for the year 2007 after all amendments had been made to it. “Amendment have been made to the remarks and notes with regards to budget revenues and an accumulated surplus of 52.6 trillion Iraqi dinars…,” according to […]
Basra - Lowest Unemployment Iraq
A discussion loop in Basra on Sunday showed that the province has the lowest unemployment rate throughout Iraq. “Unemployment is among the biggest challenges that face Iraqi economy,” a source insider to the loop told Aswat al-Iraq news agency. She said that unemployment negatively affects economic and social circumstances in Iraq. (Aswat Al Iraq)
Iraq Investors Trade Polls for Portfolios
The room is buzzing. Men lean on wooden shelves as they phone brokers sitting behind a glass barrier. Others focus on screens showing the latest trades on the Iraq Stock Exchange, while an AK-47-wielding guard keeps his distance behind. The market has resumed trading after a five-day break because of Sunday’s general election and the […]
Iraq Aims to Limit Inflation
The Iraq Central Bank Governor said that the policy of the Bank is based on encouraging funds to Iraqi banks and not the other way round in order to limit inflation in Iraq. The Iraq Central Bank is keen to raise interest rates to make it equivalent to the rate of inflation in the country […]
Iraq Expects to Step up T-bill Activity in 2010
Iraq expects to step up its Treasury bill activity in 2010 to help plug continuing budget deficits and foster a secondary treasury market, the Central Bank and Finance Ministry said in a submission to the IMF. Iraq, only just emerging from sectarian war but still battling a stubborn insurgency, also wants to develop foreign exchange […]
Investment Gap ID36 Trillion in 2010
The investment gap in Iraq in 2010 is ID 36 trillion, an economist said on Wednesday. “Investment allocations in 2010 are below expectations,” Kamal al-Basri told Aswat al-Iraq news agency on Wednesday. He said that the allocations delay governmental programs and extend Iraqi people’s suffering. (Aswat Al Iraq)
Claims to Trace the 850 Billion Dinars Dedicated As Social Benefits of the Three Presidential Bodies
The Accountability and Transparency Department, a non-governmental organization, held a seminar on promoting standards of financial transparency in the city of Najaf last week. Mr. Hussein al-Kaabi, head of Accountability and Transparency, said, "One of the foundations of democratic states is the freedom of access to information in order to enhance accountability." Kaabi said, "The […]