Iraqi News & Iraqi dinar Updates
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Iraq lost 24.7 billion dollars of potential oil revenues
November 29, 2006
The Office of the Inspector General in the Iraqi Ministry of Oil said on Thursday that Iraq has lost, in the past three years, potential oil revenues of 24.7 billion dollars because of violence and political instability which demolished existing operations and prevented the start of new projects.
Dollar demand hits new low against iraqi dinar in 2006
November 29, 2006
Buying demand for U.S. dollars hit a new low for 2006 on Tuesday and the dollar rate was down two iraqi dinar amid expectations of lower demand for the U.S. currency as the Iraqi central bank moves towards raising the iraqi dinar rate.
Iraq raising pensions to cope with inflation
November 26, 2006
Iraqi government is currently engaged in taking large and quick actions in order to face the inflationary wave resulted in a sharp rise of the prices of many services and goods which burden those with limited income, especially government employees, because of the deteriorating income, which impacted negative economic and social backgrounds.
Iraq canceling improper deal for the purchase of oil
November 26, 2006
The Ministry of Oil canceled an improper deal for the purchase of black oil with an international company at local prices. The Iraqi crude oil production is about two million, six hundred thousand barrels a day and it is hoped that it will be up to three million barrels per day during the coming period.
The Iraq Ministry of Trade buys many of the items of the ration card through direct procurement
November 26, 2006
The Ministry of Trade declared buying many of the items of the ration card through direct purchase from Iraqi and foreign companies. A media source in the ministry said that the General Company for food Trade has a contract to buy sugar in a direct purchase and the total recipient for one month was 399231 tons.
1 Trillion and 480 billion iraqi dinars to support unemployed
November 23, 2006
Government decided to allocate 1 trillion and 480 billion iraqi dinars to support unemployed and help them to face requirements of living, Minister of Labor and Social Affairs Mahmood Sheikh Radhi said.
The Norwegian Schtat Oil holding talks with the Kurds
November 23, 2006
A prominent official of the Norwegian Oil Company Schtat Oil said that the company is holding talks, on the development of oil fields, with government officials in Iraq and the northern region, which is dominated by Kurds, but it is waiting for the achieve of more stability before starting work there.
Iraq cabinet authorizes the Iraq Ministry of Trade to negotiate with Singapore
November 23, 2006
The Iraq Ministry of Trade announced that the Secretariat of the Cabinet authorized the Minister of Trade, Dr. Abd-ul-Flalah Hassan Assudani, to negotiating with Singapore to study the proposed convention for the development of economic relations between the two countries.
Investment law in Kurdistan, Iraq opens wide horizons for private sector
November 21, 2006
Businessmen in Kurdistan region have said that special investment law of the region has opened wide horizons for international firms and private sector to inter Iraqi market and compos a real partnership with businessmen in the country.
Eurepean Union (EU) to kick off 1st round of trade negotiations with Iraq
November 21, 2006
The EU and Iraq has commenced here Monday the first round of trade negotiations to reach a joint cooperation deal in diverse economic areas.
Babil Province Council Prepares Investment Plan Projects within 75 billion iraqi dinar
November 21, 2006
Babil province council prepared the suggested balance sheet investment for the coming year in the fields of municipality and services within a finance amount 75 billion iraqi dinar.
Mobile phone contracts would be granted to new companies entering the competition in Iraq
November 20, 2006
Iraqi Minister of Communications, Mohammed Tawfik Allawi, said that the mobile phone contracts will be awarded to new companies that would provide better services than what is offered at the present time.
Al-Maliki: Iraq oil resources belong to all Iraqis
November 20, 2006
Iraqi Prime Minister, Nuri Al-Maliki, said on Thursday on a visit to Ankara that the oil resources in Iraq belong to the entire Iraqi people and should be distributed equally among all communities.
United States Treasury: The donor countries for Iraq will meet in December 2006
November 20, 2006
U.S. Treasury official said that the donor countries that seek to help Iraq to rebuild its economy, plans to hold a ministerial meeting in December to work out the details of the aid pledges and debt reduction.
Iraq ministry of Oil: Establishing Maysan oil company
November 19, 2006
A media spokesman for the Ministry of Oil, Assem Jihad, declared that the ministry will establish Maysan oil Company, similar to the South Oil Company in Basra, due to the large oil fields possessed by the province.
Iraq debts vanish
November 19, 2006
International Monetary Fund previously approved on 12-23- 2005 the "Support Arrangements" to cover the stage until 2006. Such arrangements will speed up the extinguishing of approximately 130 billion dollars of the total debt accumulated upon Iraq during the era of the former regime.
Iraq signed irrigation systems contract with Austria
November 19, 2006
The Ministry of Industry and Minerals has signed a contract with an Austrian firm for the supply of irrigation systems.
Raising price of gas to US and reducing it to Europe and Asia
November 17, 2006
An official of the Iraqi oil sector stated yesterday that Iraq raised the official selling price of Basra light crude oil to be shipped in December to its clients in the United States, but reduced the price to buyers in Europe and Asia.
150 USD million for rehabilitating the Iron and Steel Company in Basra, Iraq
November 15, 2006
An official source in the Iron and Steel Company in Basra, said last Saturday that work in rehabilitating the factories of rolling and steel in the company will begin early next year after the Ministry of Finance has allocated $150 million for rehabilitation.
Japan likely offer a loan to Iraq
November 15, 2006
The Japanese Ministry of Foreign Affairs announced that its country intends to offer a loan to Iraq worths 20199 million Japanese yen for the development of engineering services in Basrah Refinery project and rehabilitating the fertilizer plant in Khor Al-Zubair.
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