The Central Bank of Iraq (CBI) dollar sales went down to reach $121.220 million in its daily auction Tuesday, compared to $146.493 million in the previous session. “The demand hit $2.170 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $119.050 million in foreign transfers outside the country, covered […]
Tag Archives | Iraq Banking & Financial News
The latest Iraq financial and banking news including Dinar, Investment Oppportunities, Funds news and more.
Tags: CBI, Iraq Banking & Financial News
Turkish Consul to Increase Investments in Basra
The volume of Turkish investments in Basra is so big and we will increase the number of Turkish companies working in the city to 1000 next year, the Turkish consul said on Monday. “Our main goal is to increase the number of Turkish companies working in Basra,” Ali Reda said during the inauguration of a […]
Finance Minister Urges Italians to Tackle Debt Issue
Finance Minister Baqer al-Zubaidi urged the Iraqi ambassador on Monday to tackle the debts issue with Italy and to encourage companies there to invest in Iraq, according to a statement of the finance ministry. “Al-Zubaidi urged the new Iraqi Ambassador, Saad Qandi, to discuss the $850 million debts owed by Iraq,” said the statement received […]
$24 Million Investment Project in Missan
An investor has submitted an agricultural investment project costing $24 million to the north of Amara city, the head of the Missan Investment Commission (MIC) said on Monday. “The investor presented the project to the MIC, which includes a milk factory and livestock raising as well as the establishment of sheds on 70,000 donums,” Dr. […]
Kurdistan Ready to Receive Egyptian Investments - Barzani
President of Iraq’s Kurdistan region, Massoud Barzani, said on Monday that Kurdistan is ready to receive Egyptian investors and businessmen. He has accepted an invitation to visit Egypt, according to a presidential statement. “President Barzani received the Egyptian Ambassador to Iraq, Sharief Kamal al-Din Shahin at the Salah el-Din resort in Arbil,” said the statement […]
Finance Minister Launches ID200b Project in Baghdad
Iraqi Finance Minister Baqer Jabr al-Zubaydi announced on Thursday that his ministry has earmarked 200 billion Iraqi dinars for the 10×10 project in the eastern Baghdad district of Sadr City, according to a press release. “During a meeting with the municipal council of Sadr City, Zubaydi called for investing the sum this year in the […]
CBI Dollar Sales Go Down to $118m
The Central Bank of Iraq’s (CBI) dollar sales went down to reach $118.416 million in its daily auction on Thursday, compared to $135.430 in the previous session. “The demand hit $60,000 in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $118.356 million in foreign transfers outside the country, covered at […]
Tags: CBI, Iraq Banking & Financial News
Barzani Meets German Investors in Arbil
The President of Iraq’s Kurdistan region Massoud Barzani received the German deputy trade minister and his accompanying delegation on Wednesday at the Salah el-Din resort in Arbil, according to a presidential statement. During the meeting he announced the inauguration of the German trade and industrial office in Kurdistan to facilitate the work of German investors […]
CBI Dollar Sales Down to $135m
The Central Bank of Iraq’s (CBI) dollar sales went down to reach $135.430 million in its daily auction on Wednesday, compared to $155.700 in the previous session. ( Aswat Al Iraq )
Tags: CBI, Iraq Banking & Financial News
Samarrai Optimistic About Investment
The Iraqi parliament Speaker Iyad al-Samarrai, said that Iraq was about to witness a surge of large foreign investment because of many signed oil agreements. Samarrai confirmed that, "International companies have started investing in Iraq which leads to further investment, referring to Turkish and Iranian companies and several European firms whch have shown strong interest […]
An Apocalypse with a Silver Lining
By Mark DeWeaver Iraq faces a big downside risk from the European sovereign debt crisis—perhaps an even bigger risk than that of renewed sectarian violence. While Iraq’s limited financial links to the outside world make it immune to contagion through the banking sector, sustained debt deflation in Europe would result in a big drop in […]
Read our new Expert blogger on economics and finance starting this week
The sovereign debt crisis in Europe could be bad news for the Iraqi economy if it leads to a sustained bear market in oil. But a more likely outcome is that the crisis will cause central banks to continue their ultra-loose monetary policy, thereby benefiting Iraq by keeping oil prices high. Our new expert Blogger, […]