The latest Iraq financial and banking news including Dinar, Investment Oppportunities, Funds news and more.
(Sources: AFP, Trade Bank of Iraq) The Trade Bank of Iraq insisted on Monday that it was open for business despite the damage wrought by two suicide bombers who blew their vehicles up in the street outside. The bank, which is the conduit for much of the Iraqi government's foreign exchange transactions and dealings with […]
As of June 17, year-to-date average daily turnover on the Iraq Stock Exchange (ISX) has remained subdued at just ID 2.2 billion (US$ 1.9 million). Surprisingly, however, large block trades on just 16 days (8 days in May, 4 in March, and 4 in January) accounted for 48% of YTD total trading. An easy way […]
Canon Middle East, an innovator and provider of imaging solutions for businesses and consumers, has pledged its support for computer summer camps being organized by educational authorities and universities throughout the region from June 1 to October 31, 2010. They will be overseen by the ICDL GCC Foundation, the governing body and certification authority of […]
Iraq’s current five-year development plan is expected to create 3.5 million new jobs, the Ministry of Planning and Development cooperation said. In a statement faxed to the newspaper, the ministry said under the 2000-2015 plan 2700 major projects are to be constructed across the country. “The implementation of the plan is certain to reduce unemployment […]
Prime Minister Barham Salih today in London told more than 500 delegates at a major conference that Kurdistan welcomes foreign business and invited international companies to participate in Kurdistan’s economic progress. Speaking at the Kurdistan Region Trade and Investment conference, the Prime Minister said, “Kurdistan welcomes foreign businesses with open arms. Foreign investment has played […]
The United Arab Emirates will double its current investment in Iraq’s semi-autonomous Kurdistan region to $6 billion by 2013, said Abdullah bin Ahmed al-Saleh, director general in the emirates’ Ministry of Foreign Trade. Kurdistan is a important partner for the U.A.E., which is keen to “develop and upgrade” ties between them, al-Saleh told delegates today […]
Dubai-based construction firm Al Habtoor Leighton Group is in discussions over a $700 million offshore project in Iraq as it seeks more business outside the difficult UAE market, its CEO said on Tuesday. Al Habtoor, an affiliate of Australia's Leighton Holding, is also eyeing a new infrastructure contract in Saudi Arabia and two in Oman […]
A delegation from Baghdad council has held a meeting with the head and members of the Najaf council to learn about the Najaf experience of reconstruction and investment in the field of infrastructure , Ahmad Nouri al-Dajieli, director of the Najaf council information department, told Aswat al-Iraq news agency. The meeting aimed to sign several […]
The Central Bank of Iraq (CBI) decided to suspend its dollar sales on Monday and will resume its sessions on Tuesday after a recent armed attack, a media source said. On Sunday (June 13), the spokesman for the Baghdad Operations Command (BOC) Maj. General Qassem Atta said fifteen civilians and three terrorists were killed in […]
The Iraqi Finance Ministry has received $440 million as a loan from the International Monetary Fund “The loan is processed according to an agreement between the two sides through which Iraq should get an amount of $3.6 billion in total from the International Fund Monetary,” the Iraqi ministry said in a release on Wednesday received […]
While addressing the Conference on Interaction and Confidence building measures in Asia (CICA) held in Istanbul, Iraq Deputy President Tarek Al Hashimi said that Iraq has made progress in its journey towards building a prosperous economy through enticing foreign investments. Hashimi stressed the role of Asian companies in the oil and gas sector. The Deputy […]
HSBC has said that it is "remarkably bullish on Iraq" and expects bank profitability in the country to increase by 100 times within 10 to 20 years, Bloomberg has reported. "There is more lending activity as the economy gets stronger," James Hogan, country manager of HSBC Holdings said. HSBC entered the Iraq's post-war banking sector […]
