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Author: Iraq123 News

The Iraqi Deposit Guarantee Company launched to protect Iraqi Citizens

The Iraqi Deposit Guarantee Company launched to protect Iraqi Citizens

The establishment of the Iraqi Deposit Guarantee Company to guarantee deposits announced in Baghdad last week. The Iraqi Deposit Guarantee Company launched after years of the collapse of some private banks and stand in the way of the development of the banking sector. It has a number of dealers with 22% of adults after the project to localize the salaries of state employees. There were several banks collapsed in Iraq in the years that followed the year 2003, including Al-Warka,…

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Iraqi Stock Market recorded an increase in the number of Trading Companies in November

Iraqi Stock Market recorded an increase in the number of Trading Companies in November

The Iraqi market index for securities increased significantly during the month of November. There was an addition to the number of companies traded compared to the month of October. Point to be noted that the number of sessions reached 20 meetings. The Executive Director of the market, Taha Ahmed Abdul Salam said in a statement that it was based on the major objectives of the Iraqi market for securities of Law No. 74 of 2004 and instructions for trading securities…

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The Iraqi Prime Minister Adel Abdul Mahdi has Resigned from the Post

The Iraqi Prime Minister Adel Abdul Mahdi has Resigned from the Post

The Iraqi Prime Minister said on Friday that he will resign from parliament. A parliamentary source pointed out the arrival of the letter of resignation of Prime Minister Adel Abdul Mahdi to the House of Representatives on Saturday. The source said, “Iraqi Prime Minister Adel Abdul Mahdi has officially forwarded a letter to the presidency of the parliament of his resignation from the post”. The resignation statement issued by Abdul-Mahdi and it came as a response to an order from…

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Russia is looking to Modernize OPEC to Change Oil Production Calculation Method

Russia is looking to Modernize OPEC to Change Oil Production Calculation Method

The Russian OPEC sources have indicated that Russia will call on other oil producers to change Moscow’s production calculation. Point to be noted that most of the major oil-producing countries are expected to meet in Vienna next month. OPEC and other oil-producing countries have been curbing oil production for 3-years to balance the market and boost oil prices. But, Russia measures its output differently. Russia introduces condensate a light and high-quality type of crude oil often extracted during gas production…

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Iraqi Budget 2020 finalized and ready for discussion during Next Week

Iraqi Budget 2020 finalized and ready for discussion during Next Week

The Iraqi government and Kurdistan regional government have reached an agreement. A special delegation is expected to visit Baghdad next week. The delegation will participate in the federal committee to finalize the draft budget law 2020. The Iraqi Finance Minister, Fuad Hussein informed reporters that it would be a part of the talks for the agreement between the Kurdistan regional government and the Iraqi government. Both sides have to do with the region’s share in the draft budget for the…

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Iraqi Educational sector is rapidly growing and strengthening

Iraqi Educational sector is rapidly growing and strengthening

The Iraqi Ministry of Education has taken various steps to affirm the strength of the educational process and to compensate for the school dropout following the current situation in the country. The education ministry issued a statement that the ministry has taken a number of decisions during the meeting with the general directors in the governorates and the meeting of the Opinion Commission. It was decided that entire schools in the country should complete the scheduled school hours, which represent…

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Iraqi Oil Ministry will construct 5 New Refineries in the country

Iraqi Oil Ministry will construct 5 New Refineries in the country

The Iraqi Oil Ministry is working hard on the selection of various international investment companies in order to construct 5 new refineries in the provinces. The ministry stressed that the Iraqi Oil Ministry financed the Karbala refinery. It would save about 9 million liters of gasoline per day in addition to other outgrowths, after its completion. The undersecretary for liquidation affairs of the ministry, Hamed Al-Zobaie issued a press statement that oil ministry has planned to construct 5 new refineries…

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International Energy Agency surprised Oil Producing Countries in the World

International Energy Agency surprised Oil Producing Countries in the World

The IEA (International Energy Agency) issued a report and surprised the world, notably the oil-producing countries. The agency has indicated when the end of oil will start as the main source of fuel and energy in light of the growing use of clean energy. It is noteworthy that oil demand worldwide is expected to slow from 2025 due to fuel efficiency improvement and an increase in the use of electric-powered vehicles. But, the IEA said that it is unlikely to…

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