Browsed by
Month: August 2019

Iraq is looking to establish Joint Economic Business with the World Bank

Iraq is looking to establish Joint Economic Business with the World Bank

On Wednesday, the Iraqi Prime Minister Adel Abdul Mahdi met with the World Bank to establish joint economic work. The media office of Abdul Mahdi issued a statement that Iraqi Prime Minister met with the regional director for the Middle East of the World Bank, Saroj Kumar, and his delegation. Abdul Mahdi discussed the vision of the Iraqi government for the future of the Iraqi economy and plans to promote non-oil producing sectors and diversify sources of income and ways…

Read More Read More

Iraqi Ministry of Planning announced inflation rate in the country

Iraqi Ministry of Planning announced inflation rate in the country

The Iraqi Ministry of Planning has announced that the annual inflation rate fell to 1.6%. The ministry issued a statement and said, “The stability of the overall record for the month of July in Iraq after maintaining the same level compared to last June reached 104.2% because of the increase and decrease in the sections of the basket”. The spokesman for the Ministry, Abdul Zahra Al-Hindawi said in a statement, “The core inflation index rose by {0.3%} from the previous…

Read More Read More

Iraq is ready to Reintroduce the Coin and Delete the Zeros

Iraq is ready to Reintroduce the Coin and Delete the Zeros

The Iraqi House of Representative’s Finance Committee has announced a trend to re-operate the coin. These coins have been used for decades in Iraq. The Committee stressed the importance of pre-adopting the coin process step Delete Zeros from currently circulating Iraqi currency to be valuable to the small cash category. The morning newspaper reported that a member of the Iraqi Finance Committee, Hanin al-Qadu issued a press statement and said we stressed the need to re-work coins that have been…

Read More Read More

Investment Opportunities and Security Situation in Iraq

Investment Opportunities and Security Situation in Iraq

A member of the Iraqi Parliamentary Economic and Investment Committee, Riaz Al-Tamimi issued a statement. Al-Tamimi said the international investment weakness is due to poor security and economic condition in the country. He said in a statement that a number of countries and international companies have shown their desire to enter the Iraqi market and investment in all fields. Al-Tamimi added that there are a number of factors but one of the major reasons is the security instability in some…

Read More Read More

Gold Prices Fell after marking its Highest Level in Past 6 Years

Gold Prices Fell after marking its Highest Level in Past 6 Years

Gold prices have shown their highest level in at least past 6-years on Tuesday. Most investors backed off from more sensitive assets because of concerns surrounding Hong Kong protests and the collapse of the Argentine currency following fears of a Global Economic Slowdown. The spot gold rose 0.3% to 1515.56 U.S dollars/ ounce at 0518 GMT, after hitting its highest level since April 2013 at 1518.03 U.S dollars. The U.S gold futures rose 0.6% to 1,526.90 U.S dollars/ ounce. Hong…

Read More Read More

170 Billion Iraqi Dinars allocated in the Budget for Baghdad Province

170 Billion Iraqi Dinars allocated in the Budget for Baghdad Province

The Iraqi Ministry of Planning issued a statement that the Minister of Planning Nuri Al-Dulaimi arranged a meeting with the Baghdad local government. The Governor of Baghdad Falah, MPs from the province of Baghdad also attended the meeting. They discussed the ongoing and new projects of Baghdad province for the current year and the most prominent challenges that stand in front of their implementation in a timely manner. The Planning Minister Nuri Al-Dulaimi said, “The ministry provides the essential working…

Read More Read More

Assets at the Central Bank of Iraq rose to more than 120 Trillion Iraqi Dinars

Assets at the Central Bank of Iraq rose to more than 120 Trillion Iraqi Dinars

The Iraqi Central Bank has announced the rise in the CBI assets to more than 120 trillion Iraqi dinars. It clearly indicated increasing confidence of depositors in banks. Alsumaria News reported that the Central Bank of Iraq issued a statement, it says, “The assets of banks during 2018 rose by 10% compared to 2017 to exceed 120 trillion dinars, equivalent to 100 billion dollars. It clearly indicates an increase in the confidence of depositors in banks. The current condition positively…

Read More Read More

Total Iraqi Oil Exports during July and Chinese investment in Oil Sector

Total Iraqi Oil Exports during July and Chinese investment in Oil Sector

The SOMO (Iraqi Oil Marketing Company) issued preliminary statistics that the Iraqi Ministry of Oil has announced the total exports revenues collected during the month of July 2019. The spokesperson of the ministry, Assem Jihad issued a statement. It has indicated the total quantities exported crude oil for the month of July from the oil fields in central and southern Iraq amounted to 106 million and 500 thousand and 15 barrels, while from Kirkuk fields through the port of Ceyhan…

Read More Read More