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Tag: Government of Iraq

Iraq experienced loss of at least 1.5 Billion U.S dollars due to the Internet Interruption

Iraq experienced loss of at least 1.5 Billion U.S dollars due to the Internet Interruption

A source in the Iraqi Central Bank has indicated the financial loss in the Iraqi electronic and tourism sectors. The financial loss in major sectors exceeded 1.5 billion U.S dollars due to the interruption of the Internet service. The source also informed that the private sector had been hit by the Internet shutdown imposed by the government to handle demonstrations in the country. It was said that Iraqi private banks recorded losses of more than 16 million U.S dollars per…

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Da’esh participated in the Currency Auction at CBI: Report

Da’esh participated in the Currency Auction at CBI: Report

The U.S Treasury Department issued a statement that some elements connected to Da’esh had been found involved in the currency auction window at the Iraqi Central Bank. The statement further indicated that it allowed Iraqi banks and exchange companies to access the U.S dollars, but the government of Iraq took at least one year to participate in the currency auction window at CBI. A magazine published a report that Da’ash organization got the ability to smuggle more than 400 million…

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Iraq Should Take Major Steps to Manage Economic Crisis: IMF

Iraq Should Take Major Steps to Manage Economic Crisis: IMF

The Iraqi economy is mainly dependent on the growth of Iraqi oil production. The growth rate of Iraqi oil exports has been increased and it is showing an image of the available opportunities towards the development of Iraqi economy. Iraqi economy is improving significantly and most of the economic experts predicted that Iraqi economy would get a place in the list of global economies very soon. The Head of IMF mission Mr. Sider Alevic said in an interview pointing out…

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Increasing Duty-Free-Shops in Free Market Zone at Iraqi International Airports

Increasing Duty-Free-Shops in Free Market Zone at Iraqi International Airports

On Sunday, the Iraqi Transport Minister Baqar Al Zubaidi stressed the importance of development in free markets should work according to the assessment of Iraqi International Airports. He also pointed out the free market in the halls of Baghdad International Airport. The Minister Baqar Al Zubaidi and the Managing Director for free markets in Iraq Ahmed Kamal further added in a statement that we discussed about the steps taken by the company in order to increase the numbers of duty-free-shops…

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CBI Announced Date for Auction Sales of Foreign Currency

CBI Announced Date for Auction Sales of Foreign Currency

The Iraqi Central Bank issued a press statement that Central Bank would start next live auction sales of foreign currency on 4th August 2015. According to our authentic source from the Central Bank said that next session for the auction sales of foreign currencies will take place in the first quarter of the next month according to defined plan by the Central Bank. Source further added that we are expecting that maximum companies will participate including some government agencies will…

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Rising Dollar Value would Reflect Negative Impact Internationally: IMF

Rising Dollar Value would Reflect Negative Impact Internationally: IMF

The International Monetary Fund (IMF) issued a warning that a massive increase in the Price of U.S dollar would reflect a negative impact on the countries that are dealing in U.S dollar currency and dealing with the United States. It would also create negative scenario on the economies of these countries. The IMF further said in its annual report that downfall in the price of crude of oil would affect and can cause a rise in the price of U.S…

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International Support for Water Development Industry

International Support for Water Development Industry

The International Finance Corporation and the French Agency for Development are members of the World Bank group and they have provided a loan of 12 million U.S dollars and 8 million U.S dollars for the companies of water bottles in order to empower the production level of bottled water in Iraq. It will also participate in the Iraqi private sector to motivate the investors in non-oil sector development in Iraq. This is a long-term based loan and it would provide…

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Companies Looking More Suitable Environment for Investment in Iraq

Companies Looking More Suitable Environment for Investment in Iraq

Economic Experts warned that the provisional stoppage of tax would be a stronger benefit for tax elusion. It would also allow engaging the taxable projects in economic cooperation with the excused in shifting profit projects using based prices of shared conversion as the payment price was fabricated evaluated with the purchased Items from the other companies. It was then rediscovered as masquerading payments and most of the companies have shown their expertise to find multiple ways in getting around the…

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