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  • Will-it-happen?'s Avatar
    Yesterday, 07:25 PM
    oh oh I see they havent paid their internet bill again : Bandwidth Limit Exceeded The server is temporarily unable to service your request due to the site owner reaching his/her bandwidth limit. Please try again later. Apache Server at www.warka-bank.com Port 80
    0 replies | 66 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 05:19 PM
    GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld’s Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments across the country, including the battle to liberate Mosul. Please click here to download the full 20-page report free of charge. For more information on how GardaWorld’s services can support your business in Iraq, please contact Daniel Matthews, Senior Director Iraq, at daniel.matthews@garda.com Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 34 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 05:19 PM
    Advertising FeatureRabee Securities Iraq Stock Exchange (ISX) market report (week ending: 12th Jan 2017). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQ1072 (+7.1%) / $1062 (+7.1%) (weekly change) (+11.7% and +12.2% YTD change, respectively). The number of week traded shares was 21.5bn and the weekly trading volume was IQD13.1bn ($10.0mn). ISX Company Announcements According to the letter published by the CBI (dated back on Dec. 27, 2016), the electronic system for dollar distribution and the principles and standards for foreign currency purchase of the banks and money transfer companies were applied and used starting Jan. 2, 2017. The CBI’s aim is to ensure effective monitoring and commitment to money launder laws and monitor terrorism financing and requirements of auditing the purchase and sale of dollars. According to the letter sent by the CBI to Iraqi banks (dated back on Dec. 29, 2016), a study was made to evaluate banks based on the standards for the foreign currency purchases and give a rating to them based on seven criteria that have different weights and total 100 points. It was stated that banks that have less than 17% of the points set for the criteria have to fix the problems related with that criteria within three months or will be suspended from participating in the currency auctions. Iraqi Land Transport (SILT) will resume trading on Jan. 15, 2017 after fulfilling ISC disclosure requirements and publishing 3Q16 financial results. International Islamic Bank (BINT) will resume trading on Jan. 15, 2017 after fulfilling ISC disclosure requirements and publishing 3Q16 financial results. Al-Ameen Financial Investment (VAMF) will hold AGM* on Jan. 17, 2017 to discuss and approve 2015 annual financial results and increasing its capital through 50% rights issue to IQD1.5bn. ISX suspended trading of VAMF starting on Jan. 12, 2017. New shares of Zain Al-Iraq Islamic Bank for Investment (BZII) from the capital increase to IQD250bn through 150% rights issue resumed trading on Jan. 12, 2017. Al-Arabiya Islamic Bank (BAAI) resumed trading on Jan. 12, 2017 after fulfilling ISC disclosure requirements. The company stated that it was converted into a bank from a money transfer company, so there was no activity in 3Q16. A cross transaction occurred on 8.5bn shares of Mosul Bank for Development and Investment (BMFI) on Jan. 11, 2017, which represents 3.4% of BMFI capital. Ready Made Clothes (IRMC) resumed trading on Jan. 10, 2017 after discussing and approving 2015 annual financial results and covering 50% of the deficit of 2015. Asiacell (TASC) will hold AGM* on Jan. 19, 2017 to discuss and approve 2015 annual financial results. ISX suspended trading of TASC starting on Jan. 9, 2017. The custodian committee assigned by the CBI over Dijlah & Furat Bank for Development (BDFD) replied ISX on Jan. 8, 2017 that the committee is currently managing the bank according to CBI instructions. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 30 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 05:19 PM
    By John Lee. Sharjah-based Crescent Petroleum plans to expand further in Iraq, according to a report from The National. The newspaper quotes chief executive Majid Jafar (pictured) as saying: “What we see in the region is the potential is much higher than what we’ve achieved so far.” In Iraq, the company is said to be looking at upstream opportunities in the south of the country. (Source: The National) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 28 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 05:19 PM
    By John Lee. South Korea’s Acting President and Prime Minister has asked for Iraq’s cooperation in bolstering economic cooperation. During a meeting with Iraq’s Foreign Minister Ibrahim Al-Jaafari in Seoul on Monday, Hwang Kyo-ahn (pictured) said: “The two countries have developed their cooperative ties based on a long history of cooperation and a mutually complementary economic structure … I ask for the Iraqi government’s interest and cooperation to ensure that economic cooperation continues to develop in the future.” Speaking at the start of a four-day visit to South Korea, al-Jaafari said he hoped that more South Korean firms can make inroads into the Iraqi market. (Source: Yonhap) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 24 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 05:19 PM
    From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraqi forces retook Mosul’s university from the Islamic State jihadist group, the latest key advance in efforts to recapture the eastern side of the city, officers said. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 32 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 05:19 PM
    U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq Sunday, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, bomber and fighter aircraft conducted 16 strikes in Syria: Near Abu Kamal, a strike destroyed an oil well head. Near Ar Raqqah, 13 strikes engaged seven ISIL tactical units; destroyed a bunker, an artillery system, five fighting positions, two supply caches, a vehicle, and 25 pieces of oil refinement equipment and damaged five supply routes. Near Dayr Az Zayr, two strikes destroyed 12 trucks and six oil-refinement stills. Strikes in Iraq Attack, fighter and remotely piloted aircraft conducted five strikes in Iraq, coordinated with and in support of Iraq’s government: attack, bomber, fighter and remotely piloted aircraft against ISIL targets: Near Mosul, four strikes engaged four ISIL tactical units; destroyed a vehicle, a mortar, five supply caches, three fighting positions, a rocket propelled grenade launcher, two car bomb facilities, an ISIL-held building, a land bridge, a car bomb, damaged 21 supply routes, disabled an ISIL artillery system and suppressed an artillery crew. Near Sinjar, a strike destroyed two tactical vehicles. Task force officials define a strike as one or more kinetic events that occur in roughly the same geographic location to produce a single, sometimes cumulative, effect. Therefore, officials explained, a single aircraft delivering a single weapon against a lone ISIL vehicle is one strike, but so is multiple aircraft delivering dozens of weapons against buildings, vehicles and weapon systems in a compound, for example, having the cumulative effect of making those targets harder or impossible for ISIL to use. Accordingly, officials said, they do not report the number or type of aircraft employed in a strike, the number of munitions dropped in each strike, or the number of individual munition impact points against a target. Ground-based artillery fired in counterfire or in fire support to maneuver roles is not classified as a strike. Part of Operation Inherent Resolve The strikes were conducted as part of*Operation Inherent Resolve, the operation to eliminate the ISIL terrorist group and the threat they pose to Iraq, Syria, and the wider international community. The destruction of ISIL targets in Syria and Iraq further limits the terrorist group’s ability to project terror and conduct operations, officials said. Coalition nations that have conducted strikes in Syria include the United States, Australia, Bahrain, Canada, France, Jordan, the Netherlands, Saudi Arabia, Turkey, the United Arab Emirates and the United Kingdom. Coalition nations that have conducted strikes in Iraq include the United States, Australia, Belgium, Canada, Denmark, France, Jordan, the Netherlands and the United Kingdom. (Source: US Dept of Defense) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 29 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 05:19 PM
    By John Lee. The*Central Bank of Iraq (CBI)*has reported that 31 banks and 16 remittance companies took part in its currency auction on Monday. A total of $159,104,757 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 36 view(s)
  • Investors Iraq News's Avatar
    01-15-2017, 12:09 PM
    By John Lee. The head of the Association of Banks in Lebanon (ABL) has said that Lebanese banks are willing to help finance the reconstruction drive in Iraq. Joseph Torbey told a banking forum in Beirut that with assets of close to $200 billion, his members were “capable and ready to be a partner in the reconstruction, through direct finance within the legal ceilings and through the attraction and management of joint financing operations.” He added that Lebanese banks were among the first to enter Iraq, and are the most active among all foreign banks. (Source: Daily Star) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 57 view(s)
  • Investors Iraq News's Avatar
    01-15-2017, 12:09 PM
    By John Lee. According to a report from Markets Insider, the biggest challenge to the recently-announced OPEC oil production cuts is Iraq. Under the agreement, Iraq has committed to cut production by 210,000 barrels per day. “That sounds simple in theory,” writes Michael McDonald, “just switch off a few pumps. In reality it’s much more difficult than that.” He continues: “Iraq … has made with international oil companies which operate its massive southern oil fields. Those companies are not just going to go along with an edict issued by the Iraqi government – they have contracts to fulfill and they are going to try and maximize their own profits according to those contracts. Thus unlike Saudi Arabia, Iraq is not really in control of its own production.” Click here to read the full article. (Source: Markets Insider) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 54 view(s)
  • Investors Iraq News's Avatar
    01-15-2017, 09:53 AM
    This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of*Iraq Business News. International Interests Line Up To Take Control Of Iraq-Syria BorderAs the fight against the extremist group known as the Islamic State continues to succeed, albeit at a slower pace than hoped for, the Iraqi government is starting to consider what to do about the country’s borders with Syria. To the west of Mosul, for example, the borders have been porous, allowing fighters from the extremist group to come and go between the Iraqi city of Mosul and the Islamic State, or IS, group’s base in Syria, the city of Raqqa. As the IS group is pushed out of the eastern side of Mosul this week, questions remain as to what will happen to IS fighters on the western side of the city; many believe they will leave on roads that lead toward the Syrian border. Assuming the remaining fighters from the extremist group eventually flee the city and head toward Raqqa, and if the Syrian-Iraq border is not secured somehow, then it is clear that the city of Mosul and the surrounding areas can never be completely safe. The main problem is: Who will do the securing? The Shiite Muslim militias, formerly volunteers but recently classified as a legitimate force by the Iraqi government, fighting the IS group are developing plans to guard this border. Many of these militias receive support, in terms of finances and training, from the Iranian government. Meanwhile the US has also been encouraging Sunni Muslim tribes in the area to launch operations in the border areas too, underscoring the military importance of the area. But of course, the border area also has a political significance. It is highly likely that Iran would like a land corridor connecting it to long-time allies in Syria. It is also highly likely that the US and some Iraqis would like to prevent this. Each country will use its allies in Iraq to try and get what it wants. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 35 view(s)
  • Investors Iraq News's Avatar
    01-15-2017, 09:53 AM
    By*Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.* How their enemies get by with killing Iraqi journalistsAbdul Qader al-Qaisi has become Iraq’s first slain journalist in 2017. He was kidnapped Jan. 1, and security forces found his body Jan. 5, dumped on the road between Kirkuk and Baghdad. Abdul Qader al-Qaisi was a member of Kurdistan Syndicate of Journalists and he was also the lawyer of former Vice President Tareq al-Hashemi. Two days before Qaisi’s body was found, Iraqi journalist Afrah Shawqi was released after being*kidnapped and held for nine days. “I don’t know who kidnapped me, but it seems they were an unorganized armed group,”*Shawqi told*Al-Monitor on the sidelines of a press conference*she held a day after her release. “I think I was taken out of the capital because it took hours on the road from where I was kidnapped until we reached the cell I was held in.” She said the kidnappers interrogated her about a story she hadn’t written*that appeared in a newspaper she no longer worked for when the story ran.*Shawqi had, however,*previously written about the pictures of dead fighters from armed Shiite factions that were posted in the streets of Baghdad, raising the ire of many supporters of those factions. A few days before she was kidnapped, she had criticized how weapons are chaotically spread among several armed groups and militias. Shawqi’s kidnapping stirred quite a buzz in Iraq, as activists and journalists formed a civil movement and took to the streets every day*to call for her release.*They said their actions were useful, and they plan to continue defending freedom of the press. “The civil force, formed by organizations defending freedom of the press, human rights organizations and prominent journalists in Iraq, played a major role in Shawqi’s release,”*Ziad al-Ajili, director of Iraq’s Journalistic Freedoms Observatory,*told Al-Monitor. “Journalists are concerned about being kidnapped or killed. However, they insist on continuing to do their job and unite against any action that seeks to restrict their freedom.” Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 64 view(s)
  • Investors Iraq News's Avatar
    01-14-2017, 10:07 AM
    By John Lee. Jordanian Prime Minister Hani Mulki met with his his Iraqi counterpart Haidar Al Abadi this week, and agreed to reopen the border crossing at Treibil. The move will facilitate the movement of Jordanian merchandise, mainly farm produce, into Iraq and reduce transport and other costs on Jordanian exporters. A committee will also be formed to consider exempting certain products from the 30 percent fee levied by Iraq, and the removal of other customs barriers. (Source: Petra) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 31 view(s)
  • Investors Iraq News's Avatar
    01-14-2017, 10:07 AM
    By John Lee. Iraq Duty Free has reportedly had its exclusive duty free contract at Baghdad and Basra airports extended by ten years to 4th March 2029. According to The Moodie Davitt Report, the contract was awarded by the Iraqi Civil Aviation Authority (ICAA) and Ministry of Transport to Iraq Duty Free’s parent company Financial Links, which has operated the business since 2004. The retailer has agreed to improve facilities, and will pay a “significantly increased” concession fee from the previous 8 percent of sales, although specific details have not been revealed. Iraq Duty Free posted logged 24 percent sales growth year-on-year to late September, including 29 percent growth at Baghdad International. (Source: The Moodie Davitt Report) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 32 view(s)
  • Investors Iraq News's Avatar
    01-14-2017, 10:07 AM
    By John Lee. Netherlands-based fruit and vegetable grower Levarht has sent its first air-freight shipment to Iraq, which arrived at Erbil airport. The company said it expects to make weekly shipments of high-quality fruit and vegetables, including soft fruit, tomatoes, bell peppers, herbs, lettuce and potatoes. A spokesperson said that because of the unrest in Iraq, there currently is not much local cultivation, but there is still a demand for high-quality produce. (Source: Fresh Plaza) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 30 view(s)
  • Investors Iraq News's Avatar
    01-14-2017, 10:07 AM
    This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of*Iraq Business News. Over the past few months the council in the central Iraqi province of Anbar have managed to create a number of new districts and sub-districts. The last meeting making such decisions was held in December and most of the members of the provincial council voted in favour of establishing four new districts inside the province. These are Karmah, east of the city of Fallujah, Baghdadi, almost 200 kilometres west of Baghdad,*Amiriyat al-Samoud, southwest of Fallujah and Nahib, 280 kilometres southwest of the city of Ramadi. An additional five villages were changed into sub-districts within these new districts. “Tribal and political influence were among the most important reasons behind the creation of these new districts,” says Daham al-Zubai, a tribal leader in Fallujah. “These were just ordinary villages before, with a population of no more than 3,000 people.” “Most of the new districts are actually the bases for influential individuals who are trying to control nearby villages and to benefit from them, in terms of political gains,” he added. It is perfectly legal for a provincial council to rezone areas within the province they run. But as yet, opinions on the new districts in Anbar remain divided. Some believe it to be a positive step in that the re-zoning has the potential to provide more government jobs and could improve the delivery of state services, like electricity and sanitation, to the new districts. But others think the timing is wrong, given the ongoing security crisis in Iraq, as well as budgetary problems, which mean that even if jobs were created, it would be difficult to pay for them. “We’ve done a number of studies on what can happen when larger areas are divided into smaller ones – Anbar was one of our case studies,” says Hassan Kashash, a lecturer in geography and administration at the University of Anbar. “The results were positive and suggested that smaller districts will provide better opportunities for management and for the optimized use of human and natural resources.” In the 1970s, similar plans were enacted with new cities built and the corresponding expansion in residential compounds and employment was seen as positive. “But there is no point in planning new administrative bodies if there is no development plan enacted at the same time,” Kashash concluded. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 43 view(s)
  • guardian's Avatar
    01-14-2017, 06:26 AM
    Never trust your bank...
    2 replies | 258 view(s)
  • Brazileiro's Avatar
    01-13-2017, 06:42 PM
    of course warka is "reluctant" to start allowing people to withdraw their money. I imagine once they open again they'd have to have some sort of plan in place to limit withdrawal amounts as there will most likely be many many many people withdrawing their money.
    2 replies | 258 view(s)
  • What If....'s Avatar
    01-13-2017, 06:02 PM
    That would be spot on with a lop. So 1M or shares would be 1K and prices would be reduced to 'penny stocks'? or would everything pretty much stay the same but with less shares (potential splits etc.)?
    16 replies | 2088 view(s)
  • Investors Iraq News's Avatar
    01-13-2017, 03:00 PM
    By John Lee. Reuters reports that Japan has agreed to lend Iraq up to 27.2 billion yen ($240 million) to rebuild damaged electricity infrastructure, especially in areas recaptured from the Islamic State group (IS, ISIS, ISIL, Daesh). It also intends to approve another loan worth 21.5 billion yen to repair a thermal power station in Basra province, and will make additional contributions of approximately $100 million through international organizations for humanitarian assistance. The loan was signed during a visit to Iraq by Japanese State Minister for Foreign Affairs Kentaro Sonoura (pictured). (Source: Reuters) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 36 view(s)
  • Investors Iraq News's Avatar
    01-13-2017, 03:00 PM
    Oryx Petroleum has given an update on its operations in Iraqi Kurdistan. In December 2016, the Zey Gawra-1 well was side-tracked (referred to in this press release as the “Zey Gawra-1ST well”) and completed in open hole partially penetrating the Cretaceous reservoir in the Zey Gawra field. Production from the naturally flowing well is currently constrained to approximately 1,500 bbl/d of 35.5 degree API oil with a gas-oil ratio of approximately 3,000 scf/stb and less than 0.5% water, with more than 1,500 psi well head pressure. The Corporation intends to continue the extended production test of the well with the objective of assessing the well’s performance, identifying options for increasing production and obtaining information to refine plans for future development of the Zey Gawra field. Crude oil produced at the Zey Gawra field is currently hauled by tanker from Zey Gawra to the Hawler tanker terminal where it is offloaded and then pumped to the Demir Dagh storage system where it is blended with Demir Dagh crude oil before being exported through the Kurdistan Export Pipeline. The drilling of the third well in the appraisal and initial development of the Zey Gawra field targeting the Cretaceous reservoir is planned in the second quarter of 2017. Gross (100%) production from the Hawler license area averaged 3,100 bbl/d in the fourth quarter of 2016. Production from the Demir Dagh-3 well in the Jurassic reservoir, which was expected to decline in 2017, ceased in late December due to an abrupt increase in the water-oil ratio. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 36 view(s)
  • Investors Iraq News's Avatar
    01-13-2017, 03:00 PM
    By John Lee. Canada-based Range Energy Resources has announced that it has received loans totalling CDN$1,315,512 (USD 1 million) from non-arm’s length parties to continue to fulfill its obligations to joint venture participants so that the development of the Khalakan Block in the Kurdistan Region of Iraq can continue as well as provide general working capital. The Loans are unsecured and evidenced by the loan agreements (the “Loan Agreements”) bearing an interest of 7% for the duration of the outstanding Loans, calculated and payable on demand.* The Company may pay the Loans in whole or in part, at any time without penalty. As CDN$1,315,512 are loans from insiders bearing an interest of 7%, the Loans constitutes a “related party transactions” within the meaning of Multilateral Instruments 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”).* The Company relied upon the applicable exemptions under MI 61-101 from the formal valuation and minority shareholder approval requirements in relation to the Loans. (Source: Range Energy Resources) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 39 view(s)
  • Investors Iraq News's Avatar
    01-13-2017, 03:00 PM
    The European Commission is currently working alongside EU Member States to facilitate emergency aid deliveries in Iraq, to help people affected by the crisis in Mosul. Three additional planes carrying emergency assistance from Austria and France have now touched ground in Iraq, bringing the total number of flights facilitated and co-financed by the Commission to nine. To date, Austria, Germany, Denmark, Finland, France, Sweden as well as Norway have offered over 266*tonnes (1636*cubic metres) of relief assistance through the EU’s Civil Protection Mechanism to assist civilians displaced due to the Mosul military operations. Commissioner for Humanitarian Aid and Crisis Management, Christos Stylianides, said: “The EU’s aid operations in Iraq have now delivered urgently needed material such as tents, blankets, generators, hygiene articles, five tonnes of medicine and medical equipment. Let me thank all countries who have channelled support through the EU’s Civil Protection Mechanism. “This aid can make a real difference for civilians trapped inside Mosul and other locations affected by the conflict and those displaced by the fighting who are facing extremely dire conditions.* It is crucial to ensure the protection of all civilians and the respect of International Humanitarian Law during and after the conduct of hostilities.” Winterisation support and emergency trauma care are key priorities. Additional material will be shipped to Iraq in the coming weeks. The material assistance complements the EU’s humanitarian aid to Iraq, the sum of which is over €159 million in 2016 alone. In December 2016, a cargo plane carrying close to 40 tonnes (more than 290 cubic metres) of emergency supplies landed in Erbil, Iraq, in the first of several operations organised jointly by the European Commission and Member States. (Source: European Commission) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 37 view(s)
  • Investors Iraq News's Avatar
    01-13-2017, 03:00 PM
    Iraqi fighters, supported by the U.S.-led coalition formed to defeat the Islamic State of Iraq and the Levant, have retaken 70 to 80 percent of eastern Mosul from the terrorists, Task Force Strike Commander Army Col. Brett Sylvia said here today. Sylvia is commander of the 2nd Brigade Combat Team, 101st Airborne Division, Task Force Strike, which is part of Operation Inherent Resolve. Task Force Strike is the roughly 1,700-person unit responsible for the advise-and-assist mission in Iraq. Sylvia briefed the press this morning during a video conference live from Baghdad. Pentagon spokesman Navy Capt. Jeff Davis said Task Force Strike advisory teams have advised the Iraqi security forces through operations in Fallujah, Sharqat, Qayyarah and the occupation of Qayyarah West Airfield, and are now advising during operations to retake Mosul. Task Force Strike’s role is critical in setting the conditions for the inevitable military defeat of ISIL in Iraq, Davis added. Progress in Eastern Mosul The Iraqis “believe between 70 and 80 percent complete with eastern Mosul. And really, in terms of kind of the doctrinal definition of defeat, you can say that there has been a defeat there because they have certainly broken will to fight … in earnest in eastern Mosul,” Sylvia told reporters. But the battle for Mosul isn’t over, he said. “There’s a lot of fight that’s left to do in western Mosul,” Sylvia noted, adding that the Iraqis have done extensive defensive work in western Mosul and in some cases have greater defenses in western Mosul than they did in the eastern part of the city. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 36 view(s)
  • Investors Iraq News's Avatar
    01-13-2017, 03:00 PM
    U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Iraq and Syria on Wednesday, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, fighter and remotely piloted aircraft conducted nine strikes in Syria: Near Dayr Az Zayr, three strikes destroyed three oil tanker trucks, two oil pumpjacks and an oil wellhead. Near Raqqah, six strikes engaged an ISIL tactical unit; destroyed two tunnels, two fighting positions, a tactical vehicle and a front-end loader; and damaged three supply routes. Strikes in Iraq Attack, bomber and fighter aircraft and rocket artillery conducted eight strikes in Iraq, coordinated with and in support of Iraq’s government: Near Beiji, a strike engaged an ISIL tactical unit and destroyed a vehicle. Near Huwayjah, two strikes engaged an ISIL tactical unit and destroyed three ISIL-held buildings and a command and control node. Near Mosul, five strikes engaged three ISIL tactical units; destroyed three fighting positions, three ISIL-held buildings, two heavy machine guns, two mortar systems, a command-and-control node, a vehicle bomb factory, a vehicle bomb, an ISIL unmanned aircraft, a supply cache and an artillery system; and damaged 24 supply routes and an ISIL-held building. Task force officials define a strike as one or more kinetic events that occur in roughly the same geographic location to produce a single, sometimes cumulative, effect. Therefore, officials explained, a single aircraft delivering a single weapon against a lone ISIL vehicle is one strike, but so is multiple aircraft delivering dozens of weapons against buildings, vehicles and weapon systems in a compound, for example, having the cumulative effect of making those targets harder or impossible for ISIL to use. Accordingly, officials said, they do not report the number or type of aircraft employed in a strike, the number of munitions dropped in each strike, or the number of individual munition impact points against a target. Ground-based artillery fired in counterfire or in fire support to maneuver roles is not classified as a strike. Part of Operation Inherent Resolve The strikes were conducted as part of Operation Inherent Resolve, the operation to eliminate the ISIL terrorist group and the threat they pose to Iraq, Syria, and the wider international community. The destruction of ISIL targets in Syria and Iraq further limits the terrorist group’s ability to project terror and conduct operations, officials said. Coalition nations that have conducted strikes in Iraq include the United States, Australia, Belgium, Canada, Denmark, France, Jordan, the Netherlands and the United Kingdom. Coalition nations that have conducted strikes in Syria include the United States, Australia, Bahrain, Canada, France, Jordan, the Netherlands, Saudi Arabia, Turkey, the United Arab Emirates and the United Kingdom. (Source: US Dept of Defense) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 35 view(s)
  • Will-it-happen?'s Avatar
    01-13-2017, 02:08 PM
    Banking Forum emphasizes the importance of communication between the Iraqi and Lebanese banks policy Economy News / special Began Wednesday morning, the work of the third session of the Forum for Iraq banking with the participation of Governor of the Central Bank of Iraq on the Keywords and head of the Iraqi private banks association Wadih Handal, along with 350 other senior officials in the Iraqi and Lebanese banking sector and corporate finance, financial services and informatics in Iraq and Lebanon, the Hall Vanessa Hotel in Beirut . It seeks Forum, which 54 banks and 14 companies involving financial services and 15 company Informatics and 26 companies patron to discuss future prospects of the banking activity in Iraq are also held on the sidelines of meetings Tnayah among Lebanese banks operating in Iraq and the Governor of the Central Bank of Iraq on the Keywords to discuss the prospects of cooperation. And initiated the opening session of the forum the words of the CEO of Wal-Aamal Group Roauf Abu Zaki and president of Banks in Lebanon Association Joseph Tarabay stressed the importance of coordination and cooperation between Iraq and Lebanon in the field of banking activity and contribute to sustainable development in Iraq and the strengthening of experience banking operations in the two countries and the use of technical means in modern banking and insurance the safety of the banking business in both countries. The words focused on the importance of communication between the Iraqi and Lebanese banks and strict adherence to the instructions and directives of the Central Bank of Iraq policy She emphasized the words on the importance of closing the ports of corruption and pay most attention to the safety of remittances and the fight against money laundering. The President of the Association of Iraqi private banks and depositary Handal speech at the opening session of the Mmmeltqy across the outset appreciation for Lebanon. To Ahtzanh this forum, noting developments in the Iraqi banking sector and the challenges faced by referring to the impact of the financial crisis and economic recession in Iraq and the region and the war on terrorism on the banking business and the economic situation in Iraq in general, stressing that the banking sector managed in spite of all these circumstances, to overcome obstacles and counter threats compliance and money laundering, and the application of the rules to ensure that Iraqi banks reputation in its relations with correspondent banks. Handal and touched on the plans and projects of Iraqi private banks association in the field of rehabilitation of human resources, noting organized training courses for 200 employees of banks over the past year and its quest to train another 400 this year, 2017. He noted the association's quest to implement the Central Bank of Iraq, a plan and a commitment to standards issued in the area of compliance and paying special attention to lending in the light of this purpose, the Central Bank's initiative to allocate $ 6 billion to support small and medium-sized enterprises and revitalizing the Iraqi economic sector He expressed hope that the settlement of employees' salaries in private banks, similar to the Iraqi Central Bank. Economy News / special Began Wednesday morning, the work of the third session of the Forum for Iraq banking with the participation of Governor of the Central Bank of Iraq on the Keywords and head of the Iraqi private banks association Wadih Handal, along with 350 other senior officials in the Iraqi and Lebanese banking sector and corporate finance, financial services and informatics in Iraq and Lebanon, the Hall Vanessa Hotel in Beirut . It seeks Forum, which 54 banks and 14 companies involving financial services and 15 company Informatics and 26 companies patron to discuss future prospects of the banking activity in Iraq are also held on the sidelines of meetings Tnayah among Lebanese banks operating in Iraq and the Governor of the Central Bank of Iraq on the Keywords to discuss the prospects of cooperation. And initiated the opening session of the forum the words of the CEO of Wal-Aamal Group Roauf Abu Zaki and president of Banks in Lebanon Association Joseph Tarabay stressed the importance of coordination and cooperation between Iraq and Lebanon in the field of banking activity and contribute to sustainable development in Iraq and the strengthening of experience banking operations in the two countries and the use of technical means in modern banking and insurance the safety of the banking business in both countries. The words focused on the importance of communication between the Iraqi and Lebanese banks and strict adherence to the instructions and directives of the Central Bank of Iraq policy She emphasized the words on the importance of closing the ports of corruption and pay most attention to the safety of remittances and the fight against money laundering. The President of the Association of Iraqi private banks and depositary Handal speech at the opening session of the Mmmeltqy across the outset appreciation for Lebanon. To Ahtzanh this forum, noting developments in the Iraqi banking sector and the challenges faced by referring to the impact of the financial crisis and economic recession in Iraq and the region and the war on terrorism on the banking business and the economic situation in Iraq in general, stressing that the banking sector managed in spite of all these circumstances, to overcome obstacles and counter threats compliance and money laundering, and the application of the rules to ensure that Iraqi banks reputation in its relations with correspondent banks. Handal and touched on the plans and projects of Iraqi private banks association in the field of rehabilitation of human resources, noting organized training courses for 200 employees of banks over the past year and its quest to train another 400 this year, 2017. He noted the association's quest to implement the Central Bank of Iraq, a plan and a commitment to standards issued in the area of compliance and paying special attention to lending in the light of this purpose, the Central Bank's initiative to allocate $ 6 billion to support small and medium-sized enterprises and revitalizing the Iraqi economic sector He expressed hope that the settlement of employees' salaries in private banks, similar to the Iraqi Central Bank.
    0 replies | 77 view(s)
  • Will-it-happen?'s Avatar
    01-13-2017, 01:03 PM
    http://economy-news.net/content.php?id=6441 Economy News / Baghdad ... The Central Bank of Iraq, on Thursday, securing the financial stockpiling of Iraq until 2021, and as pointed out Tsjsl an increase of about $ 10 billion on the expectations of the IMF by the end of 2016, announced his readiness for the launch of foreign bonds worth two billion dollars. The governor of the central bank on the Keywords in an interview he followed "Economy News" that "the central bank is ready to launch a Eurobond worth two billion dollars, especially after the preliminary approval from the US side on the government of Iraq guarantee, amounting to billion dollars." He added that "the Bank will launch these bonds if the arrival of the final approval," pointing out that "the stock of central bank reassured, and this was confirmed by the International Monetary Fund in the last review of him for stocks located, as it pointed out that the stock of Iraq's reassuring from now to the year 2021". Among the Keywords, that "Iraq has succeeded in maintaining a safe, as the Bank recorded an increase of about $ 10 billion on the expectations of the IMF by the end of 2016".
    0 replies | 46 view(s)
  • Will-it-happen?'s Avatar
    01-13-2017, 12:58 PM
    "Warka Bank" .. Citizens lament the huge sums of money entered did not graduate Editor Duraid Salman - Friday January 13, 2017 13:39 Alsumaria News / Baghdad Every now and then float to the surface of the scandal caliber, that the ranks of the acquisition of depositors' money and professionalism various stall on the repatriation of such funds methods, which shook the banking system in Iraq's reputation and made him doubt site a lot of times. He Citizens for resentment from falling victim to the "scam" Warka Bank, arguing that the bank said accounted for their money deposited procrastinating return them, while the bank manager Mtuare of sight, while the parliamentary finance committee member warned Magda Tamimi of the danger of manipulation banks entitlements of citizens, saying its adoption of a complaint the reluctance of the Warka Bank in re dues depositors. The residents said in an interview with Alsumaria's News, "We are a group of citizens, we deposited our money in the Warka Bank seven years ago, but until now the bank did not return the money, despite the lifting of several complaints against the bank and the approval of the government at the request of citizens returned the money", stressing that "the bank procrastinating in restoring their money, and make them like "Naqot love water, where giving them limited amounts every six months and the hard-won." They give their hands and their feet running Most of those citizens come from other provinces and spend the few funds that they receive from the bank on hotel fares, pointing out that "the size of a huge their deposits, some of whom filed nine thousand dollars and others deposited billion dinars, an amount not seen again since he entered the bank." According to the affected citizens, the Warka Bank site at the intersection of object and Sinak versus Khilani mosque in central Baghdad, stressing that "the bank manager called (Abu Marwa) do not face them and Mtwar of sight." Affected asserts, that "the bank does not pay the money and argue various pretexts most notably the lack of liquidity," stressing that they "have made several complaints and got the tutelage of the bank, but they did not get anything." Corruption and breach of trust The parliamentary finance committee member Majda al-Tamimi, announced its adoption of a complaint about the reluctance of citizens Warka Bank, saying it will work to restore financial dues. Tamimi said in an interview with Alsumaria News's, "The manipulation of banks and private civil entitlements of citizens, is extremely dangerous, the fact that those practices and behaviors cast negative impact on the citizen's confidence in the Iraqi banks in general, and especially the private banks." She said Tamimi, "Our follow - ups on the private banks work and we have information to suggest cases of major corruption by taking those banks for deposits of citizens and worked on the introduction of their own investments and betrayed the trust", stressing " the need for the Central Bank of Iraq strict and harsh measures against those bankss ." . Tamimi pointed out that it "will work to adopt a citizen complaint against the reluctance of the Warka Bank will work to put on the agenda of the parliamentary finance committee's agenda, in order to host the Governor of the Central Bank in this regard." The central bank announced on Thursday (29 December 2016), his intention to refer the owners of banks and the situation under guardianship to the judiciary, stressing that he is directly responsible to restore customers' deposits on behalf of the banks. The central bank had previously drew up a bank of Dar es Salaam and the Tigris and Euphrates under the Commandments after failing to pay the citizens have deposited funds, banking entrusted with.
    2 replies | 258 view(s)
  • calstar's Avatar
    01-13-2017, 02:12 AM
    tipawin You are on point...The Iqd was 1271 in 2007. I have been tracking this too. I remember back in 2005 the CBI came out with spreadsheet list that the IQD would come at 1.20. Maybe some of the old timers remember this. I'm watching and waiting to see what Warka will do.
    16 replies | 2088 view(s)
  • tipawin's Avatar
    01-12-2017, 09:19 PM
    Hi whatif i can give you some actuals 2007 investment balance of 4,582,500 iqd stock portfolio 22 stocks are now worth 3,434,470 iqd a rise of 400,000 iqd this year in 2005 these same stocks were worth 67,154,942.300 iqd in 2010 the value was just over 9,000,000 iqd obama withdrew troops isx collapsed in august 2013 went down to 4,576,129.980 low value last year was around 2,8000,000.000 iqd RECEIVED SUMMARY FROM WARKA & ISX MAY LAST YEAR ONLY ABOUT 50% ARE IN MY NAME THE REST STILL IN PROXY HOPE THIS HELPS
    16 replies | 2088 view(s)
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