Knocking Zeros Off Currency a Long Process
The assistant of the Central Bank Governor, Ahmad Sultan Al Jamili, said that re-basing the Iraqi dinar is a complicated process. He said that process of dropping three zeros from the currency will take long time.
Iraqi Microfinance Opens 100th Branch Office
Iraq’s rapidly growing microfinance industry reached a major milestone this month when the Al-Tadhamun (TDMN) microfinance organization opened its third branch office in the Northern Province of Ninawa. The opening brings the total number of microfinance branches and satellite offices across Iraq to 100 and underscores the success Iraq’s MFI sector has achieved in its […]
Asiacell Signs PR Agreement with Leo Burnett
Asiacell, the largest private Iraqi company and the first and only mobile telecommunications company to provide coverage for all of Iraq, signed an agreement with Leo Burnett on Wednesday, the 9th of June 2010, at Leo Burnett's offices in Amman. By virtue of this agreement, Leo Burnett will provide Asiacell with its comprehensive advertising and […]
German Company Seeks Investment in Iraqi Ports
A German company is interested in providing heavy equipment to Iraqi ports, in cooperation with the Iraqi Ports Company, an official source at the company said on Monday, according to a report from AK News. "The German company Damij Cransing (sic) is seeking to invest ... in direct cooperation with the Iraqi Ports Company and […]
Baghdad Council Releases $85m to Baghdad Mayoralty
The Baghdad Provincial Council has decided to release ID102 billion [$85m] to the Baghdad Mayoralty, to complete a number of services projects in the Iraqi capital. “This is the second dispatch of funds allocated to the Baghdad Mayoralty according to the budget to develop regions,” the mayoralty said in a release on Monday received by […]
Turkey-Iraq Trade Volume $6 Billion
Turkey's Trade Ministry has declared that the trade volume between Turkey and Iraq has exceeded $6 billion this year, up from only $940 million in 2003. In a press release by Turkish Ministry of Trade, commercial ties between Turkey and Iraq have developed dramatically in the recent years. The indicators show that bilateral the trade […]
Basra Oil Exports Partly Recover from Sandstorm
According to report from Reuters, oil exports from Iraq's southern oil hub of Basra partly recovered on Monday to 1.08 million barrels per day, having been disrupted by a sandstorm over the previous two days. Basra's shipments were: Friday - 1.68 million barrels Saturday - 1.128 million barrels Sunday - 720,000 barrels Monday - 1.08 […]
Companies Seeking Investment Prospects in Basra
A number of companies participating in a Basra international fair revealed on Saturday their intention to seek investment opportunities in the province, the 'economic capital of Iraq', according to a source cited by AK News. The 5-day Basra International Fair opened on Friday, with the participation of more than 150 local and foreign companies specialising […]
Basra Plans to Establish an Industrial City
Basra's governor has announced projects totalling more than 50 billion Iraqi dinars ($42m), according to a report from AK News. "Many projects will be implemented and financed from Basra's budget at a cost of more than 50 billion Iraqi dinars. The first project is to establish an industrial city for 40 billion dinars that includes […]
ISX enters period of suspended animation
Over the last three months, stocks accounting for over half the turnover on the Iraq Stock Exchange (ISX) in the first quarter of this year have been suspended from trading. (See chart. Trading values for the quarter were computed from statistics available in the Rabee Securities Weekly Bulletin, online at http://rabeesecurities.com) Of the first quarter’s […]
Calls to Apply Kurdistan Experience in Addressing Housing Crisis
According to a report from AK News, an Iraqi economic expert has called on the Iraqi government to learn from Kurdistan's experience in addressing the housing crisis, and to apply those lessons in other Iraqi provinces. “Kurdistan's experience is very important, being able to limit the continuing housing crisis in the region," said Sattar Al-Shahin, […]
German Firm to Build in Basra
German company IQ Martrade has submitted several proposals for developments at Basra Port. The manager of the Company, Mr. Gunther Hahn, said "the projects include investment in jetties at Umm Qasr Port, and the establishment of an oil pipes factory near the port - there is a huge need for such pipes in Iraq and […]