November 2005 News & Updates
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Trade Bank of Iraq Signs Agreement with Germany
November 28, 2005
The agreement, which was signed by TBI and the Iraqi Ministry of Finance with Euler Hermes Kreditversicherungs-AG on behalf of the Federal Ministry of Economics and Labour, allows for short term export credit insurance for German goods and services imported by the Iraqi purchasers.
Iraqi Central Bank Expects the Decrease of Inflation Rate to 20% in 2005
November 28, 2005
Baghdad – Senan Al Shabibi, governor of the Iraqi central bank, stated that Iraqi might achieve its goal of decreasing the inflation rate to 20%, supported by the stability of exchange and iraqi currency rates.
Iraqi dinars (Iraqi currency) Information and value of Dinar
November 23, 2005
Positive Changes in Iraq and Iraqi dinar.Upon Saddam Hussein’s deposition in 2003, Iraq has undergone political and economic changes. Many believe that the re-building of Iraq’s infrastructure will stabilize Iraq socially, politically, and economically. With the new government establishing a new monetary system that encourages foreign investment, and the central bank of Iraq awarding foreign licences, many also believe that the value of the new Iraqi dinar banknote is poised to escalate.
Why buy Iraqi Dinar?
November 23, 2005
The New Iraqi Dinar: Starting October 15th 2003 a new Iraqi currency known as the 'new Iraqi dinar' began to replace the 'old Iraq dinar', and the currency used in the North of Iraq, the 'swiss dinar'. The new Iraqi dinar created a single unified currency that is used throughout all of Iraq. Since the production of the new Iraq dinar, the international demand for the new Iraqi dinar has continued to rise.
Multinational companies, not Iraqis, to reap oil fortune
November 23, 2005
Report accuses multinational companies of ripping-off Iraq's oil wealth.
Iraqi Citizens Receive Wireless Phones from the Iraq Communications Ministry Warehouses at the cost of 9000 Iraqi dinars a year, for each service
November 23, 2005
Upon the directions of Iraq Communications Minister Javan Fuad Ma'sum, and after taking the necessary administrative procedures, Iraqi citizens, who applied for receiving wireless sets from the company warehouses of Al Rassafa branch, were supplied with these sets.
Saudi Arabia is Lifting Economic Sanctions against Iraq
November 22, 2005
Riyadh – The Saudi ministers' council decided to lift the economic sanctions against Iraq, which was approved by the council in 1991 after Iraq invaded Kuwait. The decision of lifting the sanctions was issued upon the request of the Saudi foreign affairs minister Prince Saud Al Faisal, "for the absence of the reasons of issuing it."
Poland is Seeking to Play a Role in Iraqi Oil Industry
November 20, 2005
Sofia – The Polish government is seeking to sign commercial agreements with Iraq, which would not only be restricted to supplying with weapons, but would exceed that to include the involvement of Polish companies in the oil industries in Iraq.
Iraq Intends to Establish Two new Oil Refineries
November 19, 2005
Baghdad – Ibrahim Bahr Al Oloum, Iraqi oil minister, said that Iraq is planning for reinforcing its fuel production through establishing two new refineries for facing extreme shortage of gasoline and flourishing black market.
Iraqi foreign affairs minister Zibari Requests Economic Aids from Gulf Countries
November 16, 2005
Masqat: In Masqat, Hushiar Zibari, Iraqi foreign affairs minister, has called the Gulf Cooperation Council Countries to assist his country in economic development and reconstruction, amidst disturbed security conditions
International Labor Organization Decreases Iraqi Annual Participations
November 16, 2005
Baghdad – Dr. Idris Hadi Saleh, minister of labor and social affairs announced that the International Labor Organization has agreed to extremely reduce the Iraqi annual participations, in addition to scheduling Iraqi debts to facilitate them.
Iraqi Farmers Hold the Iraqi Government as Liable for the Extinction of Palm Trees
November 13, 2005
Iraq Baquba – Thabet Jabr Al Hasnawi, head of the Farmers and Cultivators Union in Iraq, said that after its success in two pioneering experiments, which are the literacy for grown-ups in Iraq and the project of developing raising bees (apiaries) and producing honey, the union has decided to launch the project of protecting palm trees under the motto of "Rescue Iraqi Palm Trees".
Iraqi Harbors on the Arabian Gulf Make Records of (450 billion Dinars) $30 Million.
November 12, 2005
The total achieved profits of the Iraqi harbors Company have reached 30 million dollars (450 billion iraq dinars) during last October. This is considered as a record according to the security conditions witnessed in Iraq.
Iraq: International Conference in Paris for Rehabilitating Al Ahwar South of Iraq
November 11, 2005
Paris – Two years after launching the program for the rehabilitation of Al Ahwar, south of Iraq, which is sponsored by the United Nations, the priority is now for facilitating the return of residents through fixing the infrastructure of this region.
Iraq Oil Ministry Announces Discovering Crude Oil in Babylon
November 11, 2005
Baghdad – Dr. Ibrahim Bahr Al Oloum, oil minister, has announced that the city of Al Hella is considered as one of the Iraqi cities rich in crude oil.
Iraq: Sulaimaniyah Airport is ready for receiving Flights from All over the World
November 09, 2005
Iraq- Al Sulaimaniyah – The general manager of Al Sulaimaniyah Airport (330 km north of Baghdad) confirmed that the airport s currently ready for receiving flights from all over the world.
Tobacco Trade in Iraq Brings Millions of Dollars of Profits amidst the revival of Secret Deals
November 09, 2005
Baghdad – Tobacco trade in Iraq differs from the other countries, where it might be a regular trade, like any other trade, seeking profits and accepting losses in sportsmanship, hoping to compensation. Nevertheless, what is extraordinary about the trade of cigarettes in Iraq is that it is always seeking to make profits and does not accept loss under any conditions.
Iraq Reconstruction Ministry: A Plan for Constructing a Modern City on the Banks of Al Razaza Lake
November 08, 2005
Baghdad Engineer Jassem Mahdi Mohamed Ja'far, minister of iraq construction and housing, announced that the iraq ministry, with direct support of iraqi ministers' council, has taken the initial procedures for executing Al Razaza investment project, which aims at establishing a very modern city on the banks of Al Razaza Lake in the holy city of Karbala in iraq.
The Iraqi American Chamber of Commerce and the Iraqi-Spanish Gathering Sign a Cooperation Program
November 08, 2005
Amman – In Amman, the Iraqi American Chamber of Commerce and Industry and the Iraqi-Spanish Gathering have signed a joint cooperation program aiming at reinforcing the work towards the increase of their participation in the reconstruction of Iraq.
Iraq's Revenues from Exporting Crude Oil are $88 Million a Day
November 08, 2005
Baghdad –The price of a barrel of the Iraqi crude oil, which is exported to global countries, has reached $55/barrel.
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