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  • dollarsign's Avatar
    Yesterday, 12:16 PM
    Release all the news of the past month, then close down for Eid Al Adha? Time for the populace to digest? Bank holiday, hidden in a religious holiday... $
    126 replies | 19116 view(s)
  • dollarsign's Avatar
    Yesterday, 12:02 PM
    Part One: Assistant General Manager of Operations: First. Fund section: a. Division of arrest and payment: b.Division of documentation and exchange of foreign exchange movements dollar - c. Damaged Currency Replacement Division d. Division of matching fortified rooms and fund $
    126 replies | 19116 view(s)
  • dollarsign's Avatar
    Yesterday, 11:57 AM
    The issuing department and the cabinets shall perform the following main tasks: Forecast and meet the needs of the Iraqi currency and foreign currencies. Execution of the issuance of the Iraqi currency (paper and metal) after the completion of the contract, including the selection of printing companies and houses, and the operations of shipping and delivery to the stores. Using contemporary methods in managing currency stores, balancing, in terms of fixed and variable costs, between asking for currency in large quantities or in smaller quantities. Execution of the Fund's operations in terms of arrest, payment, documentation, exchange of foreign currency notes, replacement of damaged currency, matching of fortified rooms and funds. Execution of the currency counting and sorting, and determining the canceling currency, using medium machines, and comprehensive machines, while working on the sustainability and maintenance of technical equipment. Executing the operations of the Iraqi currency and foreign currencies, gold, and secretariats, as well as combating counterfeiting and counterfeiting. Ensure the follow-up of banks, matching counting and sorting, and carrying out inspections and monitoring scheduled, sudden and random. https://cbi.iq/news/view/824 the pace of CBI public disclosure is rapid and steady now... $
    126 replies | 19116 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 04:02 AM
    By John Lee. The state-owned Trade Bank of Iraq (TBI) has reportedly put plans to buy*a Turkish commercial bank on hold because of the fall in the Turkish lira. TBI chairman*Faisal al-Haimus told Reuters that the bank is keen to expand its footprint in Turkey, Iraq’s largest trading partner. According to the report, TBI has assets of around $20 billion, and is responsible around 80 percent of the trade finance business in Iraq. (Source: Reuters) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 40 view(s)
  • Wolverine's Avatar
    Yesterday, 02:44 AM
    357 replies | 9239 view(s)
  • Wolverine's Avatar
    08-18-2018, 05:58 PM
    357 replies | 9239 view(s)
  • Investors Iraq News's Avatar
    08-18-2018, 05:11 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. Please click here to download the latest 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 | 42 view(s)
  • Wolverine's Avatar
    08-18-2018, 04:29 PM
    357 replies | 9239 view(s)
  • Wolverine's Avatar
    08-18-2018, 03:54 PM
    357 replies | 9239 view(s)
  • Investors Iraq News's Avatar
    08-18-2018, 04:01 AM
    From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraqis in the holy city of Najaf are being hit hard by US sanctions on neighbouring Iran, which have forced cash-strapped pilgrims to stay at home. View on YouTube Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 47 view(s)
  • Investors Iraq News's Avatar
    08-18-2018, 04:01 AM
    By John Lee. Iraq and Jordan have signed a*a military-security cooperation agreement. The agreement aims to exchange expertise and information in the field of border protection, developing intelligence capabilities, joint military exercises, research and technology development, combating terrorism in various forms, training and development. (Source: Iraqi Ministry of Defense) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 52 view(s)
  • Wolverine's Avatar
    08-18-2018, 01:49 AM
    357 replies | 9239 view(s)
  • Screaming Eagle's Avatar
    08-17-2018, 07:33 PM
    357 replies | 9239 view(s)
  • Screaming Eagle's Avatar
    08-17-2018, 07:27 PM
    357 replies | 9239 view(s)
  • Screaming Eagle's Avatar
    08-17-2018, 07:27 PM
    357 replies | 9239 view(s)
  • Screaming Eagle's Avatar
    08-17-2018, 07:25 PM
    Space Debris!!!
    357 replies | 9239 view(s)
  • Screaming Eagle's Avatar
    08-17-2018, 07:22 PM
    357 replies | 9239 view(s)
  • Screaming Eagle's Avatar
    08-17-2018, 07:21 PM
    357 replies | 9239 view(s)
  • Screaming Eagle's Avatar
    08-17-2018, 07:19 PM
    357 replies | 9239 view(s)
  • Screaming Eagle's Avatar
    08-17-2018, 07:18 PM
    357 replies | 9239 view(s)
  • Screaming Eagle's Avatar
    08-17-2018, 07:14 PM
    357 replies | 9239 view(s)
  • James's Avatar
    08-17-2018, 04:50 PM
    Thanks for the explanation.
    51 replies | 3599 view(s)
  • investindinar's Avatar
    08-17-2018, 02:04 PM
    crazyfrank, Beginning in July, every time I sent an email to '3044', and copied a few other addresses that I already had, I started receiving responses from only Al Wasata using an Al Warka domain! That leads me to believe that '3044' is another email address for Al Wasata. On some responses sent back to me, they seemed to be using a very generic template reminding everybody that if they didn't ask for their proxy shares to be registered with the ISX within the time limit, they would be liquidated, and that they were in the processing of finalizing ... whatever. At first I thought that this message was coming from Mr. I, whom I had included in the original 'TO' address block. However, upon closer examination, I realized that the generic message in question was coming from 'Al Wasata', not anyone else. Anyway, this hullabaloo about Al Wasata may be a bit overblown. I think Al Wasata is the new name for Al Warka Brokerage and they had to incorporate a new entity in the mix to comply with ISX requirements. investindinar
    51 replies | 3599 view(s)
  • crazyfrank's Avatar
    08-17-2018, 06:23 AM
    ya know this could turn out to be really bad, quite ugly in fact.............. if there is linkage to this Al Wasata brokerage with our funds in Al Warka, this could be dam bad news. This Al Wasata brokerage is in the heart of the Gaza Strip, and those nut jobs are there cooking up a war zone attacking Syria, and Israel. The thought comes to mind where have they, or where/how are they still continuing to getting funding for all that crap?
    51 replies | 3599 view(s)
  • Investors Iraq News's Avatar
    08-17-2018, 04:00 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. By Kamal al-Ayash. As Iraq Sanctions Iran Trade, Saudi Arabia Boosts Border CrossingOpening the Arar border crossing on Iraq’s border with Saudi Arabia could help locals economically. But analysts say it’s also about international influence. “Work is underway to re-open Arar for commercial purposes before the upcoming Haj season in a manner that benefits both Iraq and Saudi Arabia,” said Abdul Aziz al-Shammari, the Saudi ambassador to Iraq. In a televised interview announcing that the border crossing is to be permanently opened, he said that the Iraqi and Saudi sides have agreed on everything required for the reopening of the crossing for commercial purposes. This is not the first time that Saudi Arabia announced its approval for the reopening of the border crossing, and with every such announcement voices supporting normal relations with Saudi Arabia are heard. Local residents also say the border crossing opening will boost economic recovery in the area. However, the issue of ownership of the border crossing remains a significant stumbling block: It is located within the borders of the Nukhayb district, approximately 300 kilometres southwest of Ramadi, which is in the Anbar province . The Nukhayb district was created in 1960 and remained part of Anbar province’s Rutba district until 1978 when it was annexed to Karbala for 14 months. It was returned to the Anbar province in 1979 as a result of a crisis between the local population of the Nukhayb district and Ahmad Hassan al-Bakr, a former President of Iraq, after which it became a separate district in 2016, following a vote by Anbar provincial council members. The Arar crossing point is located on the Iraqi-Saudi border, 97 kilometres southwest of the Nukhayb district, and since 2003 has officially only opened during the pilgrimage season so that Iraqi pilgrims can travel to the holy site of Mecca in Saudi Arabia. The border crossing has two routes; the first passes through the Karbala province and the second passes through the Anbar province. The local government in the Anbar province highlights the success of its security and service operations every pilgrimage season, while at the same time stressing that this is done without financial allocations to the border crossing. It is also a way of confirming its ownership of the Nukhayb district and the Arar border crossing. Taha Abdul Ghani, a member of the Anbar provincial council, told NIQASH that “no province other than Anbar has the right to administrate the Arar border crossing, as all documents prove that the Nukhayb district and Arar border crossing fall within the administrative borders of the Anbar province. Any other claim is a slander and a violation of Anbar’s rights.” “Anbar province has administrated the Nukhayb sub district for 15 years. It allocated huge amounts of money to services and projects in the Nukhayb district in support of all sectors, as well as for logistical services to ensure the success of security plans and the travel of pilgrims through the Arar border crossing.” In addition to its importance for commercial and tourism purposes, the Saudi-Iraqi border crossing is significant for various local and international political parties for political and security reasons. Observers and experts say that any developments related to the Nukhayb district tend to increase tensions and they stress that economic issues are not the only reasons. “Controlling the Nukhayb district and the Arar border crossing from the Iraqi side has one specific reason,” retired military man, Mohammed Kartan explains. “Anbar wants to maintain the border crossing with its Sunni environment, specifically the Gulf, and Karbala and Najaf want to impose their control and influence to isolate Sunni elements from their support in the Gulf. “Whoever controls the Jdaidet Arar border crossing and the Nukhayb district controls important transportation routes between Iraq and Syria that were created when the Islamic State group occupied most of the cities of the Anbar province. These routes were created in an attempt to find alternative ways to bring financial and logistical support to Syria without having to pass through extremist-occupied areas.” The reopening of the border crossing could serve as an important outlet for Iraqi and Saudi trade, but it is a painful economic blow to Iranian trade, which heavily and directly depends on the Iraqi market. Kareem al-Nouri, a leader of the popular crowd forces, told NIQASH that “if we assume good intentions on the part of Saudi Arabia, the decision to resume business permanently at the Arar border crossing is a good and useful decision which restores relations between Iraq and Saudi Arabia. However, we believe that the decision is of a political nature and its timing is not appropriate, especially with the US sanctions on Iran.” “The opening of the border crossing, which is located in a sensitive and important city that is still categorised as a disputed area, could trigger a real crisis that may evolve into a conflict,” al-Nouri said. “Announcing the opening of the border crossing at this time is not a popular decision and it should be reconsidered.” Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 62 view(s)
  • Investors Iraq News's Avatar
    08-17-2018, 04:00 AM
    DNO ASA, the Norwegian oil and gas operator, today announced plans for its first dividend distribution to shareholders in 13 years following release of strong half-year 2018 results, including revenues of USD 289 million which were up 83 percent from the same period last year. The Company also reported a net profit of USD 61 million and free cash flow of USD 142 million during the first half of the year. “With growing production and robust and reliable revenues, the dividend announcement underscores confidence in our strong growth prospects,” said DNO’s Executive Chairman Bijan Mossavar-Rahmani (pictured). “Kurdistan is back and so is DNO,” he added. The Company continues to ramp up activity in the Kurdistan region of Iraq, where fast track development of the Peshkabir field is expected to boost output by another 15,000 barrels of oil per day (bopd) to 50,000 bopd by yearend. The Company, the most active driller in Kurdistan, has three rigs operating across its licenses with a fourth to be added next month. Two rigs will be active at the flagship Tawke field to reverse natural field decline through workovers and the drilling of two wells in the main Cretaceous reservoir and two wells in the shallow Jeribe reservoir. Operations will commence at the Baeshiqa license with another rig to be mobilized to spud the first well in September as part of a back-to-back, three-well exploration program. DNO acquired a 32 percent interest in and operatorship of the Baeshiqa license last year, joining ExxonMobil (32 percent), the Turkish Energy Company (16 percent) and the Kurdistan Regional Government (20 percent). At Peshkabir, the fourth rig will spud Peshkabir-8 in 10 days followed by Peshkabir-9 in October. Early production and successful appraisal have raised previous field proven (1P) and proven and probable (2P) reserves. Two newly completed wells, Peshkabir-6 and Peshkabir-7, will commence testing by the end of this month before being placed on production. Peshkabir-6 is key to unlocking further Cretaceous and Triassic reserves. “Peshkabir is proving prolific in production and has generated over USD 300 million in gross revenue since startup last year or three times the investment,” said Mr. Mossavar-Rahmani. Elsewhere, DNO recently completed the sale of its Tunisia assets and relinquished Block SL18 in Somaliland as part of the Company’s ongoing rationalization of its portfolio through divestment of non-core assets and focus on expanding operations in Kurdistan and Norway. Offshore Norway, the Company recently added six new exploration licenses for a total of 21 licenses and plans to participate in one exploration well in the fall, followed by at least five wells next year. DNO retains indirect interests in North Sea assets through its 28.23 percent strategic stake in Faroe Petroleum plc and, given the size of its shareholding, will request seats on the board and has asked for an extraordinary general meeting to be called for this purpose. DNO exited the second quarter with a cash balance of USD 584 million in addition to USD 288 million in marketable securities and treasury shares. The Company’s outstanding bond debt stands at USD 600 million. The planned annual dividend distribution of NOK 434 million (USD 50 million equivalent), payable in two tranches, is subject to shareholder approval. To facilitate the distribution of the planned dividend, the DNO Board of Directors will convene an extraordinary general meeting on 13 September 2018 (i) to seek approval for payment of a dividend of NOK 0.2 per share in H2 2018 to be distributed to shareholders of record on 13 September 2018 (as registered in the VPS on 17 September 2018), and (ii) to seek authorization to approve an additional dividend payment of NOK 0.2 per share in H1 2019. (Source: DNO) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 65 view(s)
  • Investors Iraq News's Avatar
    08-17-2018, 04:00 AM
    Advertising FeatureRabee Securities Iraq Stock Exchange (ISX) market report (week ending: 16th Aug 2018). Note: ISX will be closed starting from Aug. 21, 2018 to Aug. 26, 2018 due to the religious holiday of Eid Al-Adha. The next session will be held on Monday, Aug. 27, 2018. Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD729 (.1.9%) / $779 (-2.3%) (weekly change) (-10.1% and -6.8% YTD change, respectively). The number of week traded shares was 22.1bn and the weekly trading volume was IQD8.9bn ($7.4 mn). ISX Company Announcements Chairman of Iraqi Securities Commission (ISC), Abdul Razzaq Al-Saadi, said during an interview with newspaper Al Sabah that the obstacles of the work of the Commission is the absence of a modern law that suits the international laws, so the Commission has worked to prepare a law for it, and has completed 85% of it. He stated that within six months the law will be completed and sent to the House of Representatives. He pointed out that this law allows the development of work and the adoption of new systems, most importantly corporate governance, which are the most important pillars to attract foreign investors. (ISC) The Central Bank of Iraq (CBI) has been awarded the ISO 9001: 2015 certification in the Quality Management System (LMS Certification) by the British LMS Certification. (CBI) Al-Zawraa for Financial Investment (VZAF) will hold an AGM* on Sep. 25, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of VZAF starting Sep. 20, 2018. Bank of Baghdad (BBOB) will hold an AGM* on Sep. 17, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BBOB starting Sep. 11, 2018. Al -Hilal Industries (IHLI) will hold an AGM* on Sep. 9, 2018 to discuss and approve 2016 annual financial results. The company has been suspended from trading since Jul. 4, 2018 by an ISC decision. Modern Chemical Industries (IMCI) will hold an AGM* on Aug. 31, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of IMCI starting Aug. 28, 2018. Region Trade Bank for Investment and Finance (BTRB) will hold an AGM* on Aug. 29, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BTRB starting Aug. 20, 2018. Iraqi Engineering Works (IIEW) will resume trading on Aug. 19, 2018 because the company fulfilled ISX request to disclose its 2017 annual financial results. Al-Khair Finacial Inv. (VKHF) will hold an AGM* on Aug. 28 to discuss and approve 2015 and 2016 annual financial results and to elect five new original and alternative BoDs. The company has been suspended since Jul. 6, 2017 by an ISC decision. Modern Sewing (IMOS) resumed trading on Aug. 13, 2018 after discussing and approving 2017 annual financial results and to distribute 15% cash dividend (IQD0.15 dividend per share, 3.2% dividend yield). ISX announced that Trust International Islamic Bank (BTRU), having a capital of IQD250 bn paid-in capital, has completed the listing procedures. BTRU started trading in the non-regular market starting Aug. 12, 2018. Cross Transactions: 18.7 bn shares of Al-Noor for Money Transfer Co. (MTNN) on Aug. 15, 2018, which represents 41.6% of MTNN capital. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 83 view(s)
  • crazyfrank's Avatar
    08-17-2018, 12:21 AM
    ok now this is a new concept, that the 3044 address is actually this Al Wasata brokerage, what makes you say this?
    51 replies | 3599 view(s)
  • investindinar's Avatar
    08-16-2018, 07:53 PM
    I've been trying to communicate with the Al Wasata and Al Warka folks for some time now, but somehow I can't help but get the feeling that there's some sort of disconnect between the two. Even though I've sent messages asking about the status of my request to have all of the shares held in proxy by Al Warka sent to ISX as per the original notification in January, I haven't received a clear answer about whether or not they were transferred, and what the new ISX registration number is. I've received a few messages from Mr. I, but his messages seem to indicate that all of my proxy shares were liquidated, and not transferred over to the ISX, and I was wondering how could that be if I submitted and sent everything they requested over to them on time? Al Wasata on the other hand, appears to be using the same '3044' address that Al Warka instructed everyone to use in relation to communicating back and forth regarding share transfers. I'm so confused at this point, this that I don't what to do or think except wait. Maybe we'll have a firm answer on the whereabouts of the proxy shares, when to start trading again and with whom, and when we can start making withdrawals from our accounts, in another year! I wonder if anyone else has had any luck finding out where their shares are after Al Warka announced they were liquidating shares if the proper paper work was not completed and submitted by the extended 30 day deadline? Has anyone in this forum had any luck in getting Al Warka to respond to the original request to have their proxy shares transferred and have they received a new ISX registration number with their shares transferred to the new ISX registry? Any information and/or responses to this issue would be greatly appreciated. investindinar
    51 replies | 3599 view(s)
  • crazyfrank's Avatar
    08-16-2018, 03:41 PM
    Yes I would agree that is another very valid purpose for this imagery change on display. Additionally looking at the actual progression of the change, I tend to look behind the scenes of what has occurred. If I am reading too much into this let me know. As it was an sudden and immediate change, that they were motivated to make all of a sudden. As we all know the CBI is very deliberate on making any change. You can see that by the serial numbers of the imagery they chose to use for this display. If it had been a planned event they would have had on hand the initial "specimen" runs to use for this display, and they would have been very low serial numbers, for example they may have been s/n 0001 or such. What we do see are the higher serial numbers on display, as some are s/n 800 to s/n 1700. So I assume they did not plan for this imagery change. This to me indicates that they physically had this "specimen" version of the currency for some time now, and no longer physically have the lower serial numbers in their possession for such display uses any longer. They used what ever they had on hand at that moment in time. The lower serial numbers have already been issued out, and they continue to issue them out to banks for verification purposes. There is no way to see now what the most recent serial numbers are, but its safe to assume they are much higher now in the series run by now. So if this assumption is correct, then its good news in a way, as it may indicate they had already begun possibility preparing other banks (domestic or foreign) for ground level IQD currency negotiation, well prior to this new imagery display change activity.
    5 replies | 353 view(s)
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