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  • Investors Iraq News's Avatar
    Today, 03:58 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 | 16 view(s)
  • BatmaninIraq's Avatar
    Today, 07:33 AM
    http://dinardetectives.info/wealth-generated-single-10000-iqd-note-given-original-value-approximately-10/
    31 replies | 2665 view(s)
  • Investors Iraq News's Avatar
    Today, 07:03 AM
    As the Iraqi Government celebrated its final victory over ISIL this week, IOM, the UN Migration Agency, released a new study, which shows that 90 per cent of displaced Iraqis are determined to return home. This is similar to the long-term intentions recorded in 2016. More than 1.3 million internally displaced persons (IDPs) have returned to their places of origin so far in 2017. In total since the start of the crisis in 2014, IOM estimates that more than 2.8 million displaced Iraqis have returned, while more than 2.9 million people remain displaced. The IOM study, Integrated Location Assessment (ILA) analyzes both displacement and return movements of conflict-affected people across Iraq. Approximately 2.1 million displaced persons and more than 1.6 million returnees, based in 3,583 locations across Iraq, have been covered in the assessment, which was carried out between March and May 2017. Only in Basrah and Najaf did families report that they consider integrating into the local community, where they are displaced. According to the findings, Anbar was the single governorate where most returns took place in both 2016 and 2017, followed by Ninewa in 2017. Among the main findings, this study identifies that residential and infrastructure damage is widespread. Nearly one third of returnees are reported to have returned to houses that have suffered significant damage, and 60 per cent to moderately damaged residences. Regarding infrastructure, most damage appears to affect roads, followed by the public power grid and water networks. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 24 view(s)
  • Investors Iraq News's Avatar
    Today, 07:03 AM
    By John Lee. Diala State Company, which is part of Iraq’s Ministry of Industry and Minerals, has announced opportunities to invest in a steam iron factory and a ceiling fan factory. (Source: National Investment Commission) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 24 view(s)
  • Wolverine's Avatar
    Yesterday, 05:43 PM
    6656 replies | 379027 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 03:41 PM
    By John Lee. Shares in Irish-based Petrel Resources were trading 20 percent down on Friday after the company said it had reached a settlement in respect of the disposal of 2.2 million Petrel shares by Amira Petroleum‘s advisers notwithstanding a lock-in agreement entered into on 19 August 2013. According to the company: *On 14 August 2013, the Company announced that it had agreed to acquire from Amira Petroleum N.V. (“Amira Petroleum”) a 20 per cent shareholding in Amira Hydrocarbons Wasit B.V. (“Amira”), the holder of a 25 per cent carried interest in certain oil and gas exploration and production licences in the Wasit Province of Iraq. The consideration for the acquisition included the issue of 18,947,368 shares in Petrel (representing 19.82 per cent of the enlarged issued share capital of Petrel (“the Initial Consideration Shares”). The Initial Consideration Shares were agreed to be locked-in until the date of spudding the first conventional oil well in respect of Amira’s interest in the Wasit province (the “Spudding Date”) but that, if the Spudding Date had not occurred by 19 August 2018, Petrel could, amongst other things, elect to re-acquire the Initial Consideration Shares for a nominal amount. As part of the agreement with Amira Petroleum, 2.8 million of the Initial Consideration Shares were, at the direction of Amira Petroleum, issued to its advisers in satisfaction of fees payable by Amira Petroleum (“the Adviser Shares”) and were subject to a lock in agreement as detailed above. As of the date of this announcement, the Spudding Date has not occurred. During December 2017, Petrel learnt that 2.2 million of the Adviser Shares had been sold between March and July 2017, notwithstanding the lock-in agreement. The parties have reached a settlement and agreed that the vendors of the 2.2 million Adviser Shares shall make a payment of £100,000 to the Company (representing approximately 4.5p per Adviser Share sold).* The remaining Adviser Shares shall remain subject to the lock-in agreed in 2013. This announcement contains inside information for the purposes of Article 7 of EU Market Abuse Regulation 596/2014. (Sources: Petrel Resources, Google Finance) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 39 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 03:41 PM
    By John Lee. Ur State Company, which is part of Iraq’s Ministry of Industry and Minerals, has announced an opportunity to invest in the rehabilitation of an aluminium factory. (Source: National Investment Commission) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 35 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 03:41 PM
    USAID Counselor Thomas H. Staal, a former USAID Iraq Mission Director and now one of the agency’s top officials, returned to Iraq December 5-10 to advance U.S. efforts to help Iraq’s most vulnerable communities following the defeat of ISIS. While in Baghdad, Staal met with government officials including Dr. Mahdi al-Allaq, Secretary General of the Council of Ministers, to discuss how Iraq can strengthen its support for minority communities. Staal also met with United Nations representatives who are implementing U.S.-funded stabilization programs in Anbar, Ninewa, and Salah ad Din provinces. *He affirmed the U.S. government’s pledge to provide an additional $150 million to this effort. With this new infusion of funds, the United States will have provided more than $265 million for stabilization projects and a separate $1.7 billion throughout Iraq for humanitarian assistance to Iraqis who were displaced by the ISIS threat beginning in 2014. On December 6, Staal traveled to Erbil for a closer look at U.S. assistance to internally displaced persons (IDPs) in the Iraqi Kurdistan Region. *After an initial meeting with the Ministry of Endowments and Religious Affairs, he sat down with NGO leaders and representatives from the Christian, Yezidi, Sabean-Mandean, Kakai, Baha’i, Zoroastrian, and Jewish communities to hear their concerns and needs post-ISIS. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 37 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 03:41 PM
    By John Lee. The 12th Economic Forum of the Iraqi-French Council of Businessmen was held recently in Baghdad. Dr. Sami Al Araji, Chairman of the National Investment Commission (NIC) opened the forum with a welcoming speech to the attendees including the Iraqi Minister of Trade, French State Minister for the Foreign Trade Affaires, the Iraqi Governor of the Central Bank and a number of governors, Vice Ministers, Consultants, Director Generals, Heads of Provinces’ Councils, Chairmen of Commercial Chambers and Unions, company owners and businessmen. Mr. Jack Batist Lomowan, French State Minister for the Foreign Trade Affaires concentrated in his speech on the deep relation between the two countries and the serious wish of both governments to enhance this relation in various fields disregarding the big challenges Iraq is facing now. He considered this meeting as a step towards the next donors’ conference in Kuwait. He also mentioned the most important French companies which are interested in working in Iraq in addition to the new ones that are eager to start business here. Oil & Gas, energy, water, and infrastructure are main sectors in Iraq in addition to agro industries and medication plus having the French TALS Co. for fund Insurance and protection for the French companies working in Iraq as France has landed Iraq $450-billion aiming at supporting the Iraqi-French relations specially after the Iraqi Prime Minister visit to Paris last October. He ended his speech by referring to the importance of mutual trust bursting from real political desire of the two leaders to move ahead with the two countries relation and find mutual responsibility and in common interests. Mr. Raghib R. Blaibil, head of The Iraqi- French Council of Businessmen, considered this forum is a precious opportunity for Iraqi and French businessmen to meet and discuss the fruitful business potential for both sides. He also mentioned the improvement in the economic situation after defeating ISIS in Iraq and the victory our security forces achieved on the ground. The will be for reconstructing, bringing the displaced back to their homes and the elevated oil price are strong factors encouraging us to invite the French companies to work and invest all over Iraq strongly and freely with no hesitation or fear. Mr. Blaibil addressed the French airlines companies to start a direct line between Baghdad and Paris after the Iraq opened its airs to the international civil aviation. The Iraqi-French Council of Businessmen representative Mr. Arnold Brolack inquired about sectors Iraq is willing to invest with the French side and what Iraqi aid is available to achieve tangible results after unifying the two parties’ views. Mr. Ali Al Alaq, Governor of the Central Bank, long speech emphasized on the successful financial policies of the Central Bank of Iraq during the past years. These policies, in cooperation with the Ministry of Finance, saved Iraq from the sudden oil price drop shock and unstable economic situation. Dr. Mahir Hamad, Vice Minister of Finance, and Mr. Faisal Al Haimis, Director General of the Trade Bank of Iraq gave their speeches too. Dr. Sami R. Al Araji ended the first session works with a detailed presentation of strategic opportunities available for investment in Iraq. The second session started later where bilateral discussions between the Iraqi and the French parties in different economic sectors took place. French Alstom Transport Co. signed two memoranda of understanding with local governments in Baghdad and Basra provinces to build modern metro with international specifications. (Source: National Investment Commission) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 37 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 03:41 PM
    U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria between Dec. 11-14, conducting 42 strikes consisting of 53 engagements, Combined Joint Task Force Operation Inherent Resolve officials reported today. Officials reported details of the most recent strikes, noting that assessments of results are based on initial reports. Strikes in Syria Yesterday in Syria, coalition military forces conducted 10 strikes consisting of 13 engagements against ISIS targets: Near Abu Kamal, nine strikes engaged six ISIS tactical units and destroyed six ISIS vehicles and a fighting position. Near Tanf, a strike destroyed a weapons cache and two ISIS caves. On Dec. 13, coalition military forces conducted 14 strikes consisting of 17 engagements against ISIS targets: Near Abu Kamal, nine strikes engaged nine ISIS tactical units and destroyed three ISIS vehicles and an ISIS headquarters. Near Tanf, five strikes engaged three ISIS tactical units and destroyed three ISIS vehicles, four cave entrances and a tactical vehicle. On Dec. 12,, coalition military forces conducted seven strikes consisting of seven engagements against ISIS targets near Abu Kamal. The strikes engaged seven ISIS tactical units and destroyed two ISIS vehicles and a heavy weapon. On Dec. 11, coalition military forces conducted six strikes consisting of seven engagements against ISIS targets near Abu Kamal. The strikes engaged five ISiS tactical units and destroyed three ISIS heavy weapons. Strikes in Iraq There were no reported strikes in Iraq yesterday. On Dec. 13 in Iraq, coalition military forces conducted two strikes consisting of two engagements against ISIS targets: Near Rutbah, a strike engaged an ISIS tactical unit and destroyed an ISIS vehicle. Near Tuz, a strike engaged an ISIS tactical unit and destroyed two ISIS tents and a bunker. On Dec. 12, coalition military forces conducted two strikes consisting of two engagements against ISIS targets: Near Baghdadi, a strike engaged an ISIS tactical unit. Near Rutbah, a strike destroyed two ISIS-held buildings. On Dec. 11, coalition military forces conducted a strike consisting of five engagements against ISIS targets near Hawija. The strike engaged an ISiS tactical unit and destroyed two ISIS meeting facilities. Part of Operation Inherent Resolve These strikes were conducted as part of Operation Inherent Resolve, the operation to destroy ISIS in Iraq and Syria. The destruction of ISIS targets in Iraq and Syria also further limits the group’s ability to project terror and conduct external operations throughout the region and the rest of the world, task force officials said. The list above contains all strikes conducted by fighter, attack, bomber, rotary-wing or remotely piloted aircraft; rocket-propelled artillery; and some ground-based tactical artillery when fired on planned targets, officials noted. Ground-based artillery fired in counterfire or in fire support to maneuver roles is not classified as a strike, they added. A strike, as defined by the coalition, refers to one or more kinetic engagements that occur in roughly the same geographic location to produce a single or cumulative effect. For example, task force officials explained, a single aircraft delivering a single weapon against a lone ISIS vehicle is one strike, but so is multiple aircraft delivering dozens of weapons against a group of ISIS-held buildings and weapon systems in a compound, having the cumulative effect of making that facility harder or impossible to use. Strike assessments are based on initial reports and may be refined, officials said. The task force does 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. (Source: US Dept of Defense) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 35 view(s)
  • James's Avatar
    Yesterday, 12:41 PM
    Do you have a link to your article? The one I found reads differently. Here is what I found https://www.treasury.gov/press-center/press-releases/Pages/sm0232.aspx 12/7/2017 Washington – U.S. Treasury Secretary Steven T. Mnuchin issued the following statement on the completion of Basel III Capital Standards: "The consensus agreed to by the Group of Governors and Heads of Supervision (GHOS) completes nearly seven years of work on the Basel III bank capital standards. The reforms standardize the approach, improve the quality and consistency of bank capital requirements, and will help level the playing field for U.S. firms and businesses operating internationally."
    31 replies | 2665 view(s)
  • BatmaninIraq's Avatar
    Yesterday, 06:48 AM
    Washington – U.S. Treasury Secretary Steven T. Mnuchin issued the following statement on the completion of Basel III Capital Standards: First off, I’ll use the exchange of a 10,000 IQD (Iraqi Dinar) note as example. To help explain the economics of this cash-in example, I will use a 1:1 cash-in ratio between the USD (US Dollar) and IQD (Iraqi Dinar), that is given a two-tier payout, and a 2% bank spread. What You Will Receive: If you were to cash in your 10,000 IQD note with a bank that charges you a 2% spread, you would personally receive a net take-home of $9,800 credited to your bank account. What Your Bank Will Receive: Your Bank will receive a $10,000 credit to its Federal Reserve Account. They will also be able to add the $200 profit to their “capital account”. Ultimately, the bank wins because they are able to gain $2,000 in lending power under the 10% “Fractional Banking“ model. What the US Treasury Will Receive: First off, the US Treasury will receive $3,500 in estimated taxes in the quarter after the exchange, because you are now in the “rich” category and get to enjoy the 35% tax bracket. This lowers the “net cost” of the IQD exchange to the US financial system to $6,500 USD (i.e. $10,000 out – $3,500 in). Furthermore, the US Treasury’s rate is higher than the banking rate (we will use in this example 1.25), thereby further reducing their “net cost” from $6,500 to $4,000. Oil Now Enters the Picture: At some point, a Fed-appointed agent orders $12,500 worth of oil from Iraq. Payment will consist of a $12,500 transfer from the Fed’s foreign currency reserve IQD account to the IRAQ Oil payment account at the CBI (Central Bank of Iraq) in a form otherwise known as Petro Dollars/Petro Dinar. Even though the world spot price of oil is defined in terms of USD, the actual transaction may take place in any internationally recognized currency agreed to by the parties. How the CBI “RECAPTURES” the Money: The $12,500 order is filled with 250 barrels of oil based on the spot price on the date of the sale (for this example we used a $50 USD spot price). What does it cost Iraq to produce the oil to fill this order? Well they have negotiated productions agreements for approximately $1.50 USD/barrel. From that price $.50 USD goes to the national Iraqi oil company who is the partner in the field the oil came from. Out of the remaining $1.00 the other oil field partners have to pay the Iraq government a profit tax of $.35 USD (35%). The net cost to Iraq to produce a barrel of oil used in this scenario is $.65 USD. (i.e. $1.50 – .50 – .35) What does all that mean? It cost Iraq $162.50 to bring back a 10,000 IQD note! Can they afford that? I think so! So, instead of paying out $12,500 for a 10,000 IQD note, they only pay $162.50! That doesn’t add to the money supply much at all does it! They receive their IQD back and place it in the CBI, or destroy it. The transaction is completed with the Federal Reserve exchanging foreign reserve credits which are equal to $12,500 USD (which had a net acquisition cost of $4,000 USD for the US) for 250 barrels of oil (which has a TOTAL COST to produce of $162.50 USD for Iraq. More completely explained, and simply put, it cost Iraq $162.50 USD from their foreign currency reserve accounts to redeem the value of 10,000 IQD, which goes into their operating accounts. At the same time the US got $12,500 worth of oil for a net cost of $4,000. That’s how it was originally planned for Iraq to RV at 1 IQD = 1 USD, with the variable being the political element (i.e. UN Sanctions, GOI (Government of Iraq) actions, IMF actions, World Bank actions etc.) Other Factors that Strengthen Iraq’s Position and Ability to RV: DFI (Development Fund for Iraq) Funds Returned & Other Assets: $280+ Billion USD, plus other frozen assets (estimated at $100 billion) will be returned back to Iraq and added to their foreign currency reserve, bringing it up to $430+ billion USD. CBI IQD Reserve Requirement Adjustment: The CBI will change the current fractional IQD reserve requirements from 100% to 15% at the appropriate time. As a result, the the total potential money supply will be raised in value to $2.8 Trillion (430 billion/15), while at the same time, the total physical IQD in circulation will be reduced by removing the large bills with the 3 zeros over a period of 2 years, as they have indicated. Oil Production Increased: Iraq will also execute the plan they announced to increase oil production from 2+ million barrels/day to 10 million barrels/day with the resulting revenues flowing directly to the Iraq treasury. Oil Futures & Forex Contracts Added: To further stir the pot, the CBI will continue to use it’s sales window to market oil futures and forex contracts. They have shown they can generate significant cash flow in the private market. Think of their impact in public markets. There, my friends, is how this plan will be enacted and made possible. Taking NOTHING, and turning it into SOMETHING, then bringing it back to a “manageable and reasonable something” that is accepted and supported by seeming endless supplies of oil So, here’s the summary for all the “players” involved, giving ballpark numbers, and not taking into account superfluous costs, fees, and other small details that don’t really affect the larger picture: Investor’s Net Gain: $10,000 – $200 = $9,800 x .65 = 6,370 for an investment that cost $10 Bank’s Net Gain: $200 added to “capital account”, plus $2,000 they can use to loan out. US Treasury Net Gain: $2,500 from the .25 spread on top + $3,500 in quarterly taxes = $6,000 CBI/GOI/Iraqi People Net Gain: $12,500 – $162.50 = $12,337.50 + Profits from “Other Factors” Overall Net Gain for All Involved: $6,370+$200+$6,000+12,337.20 = $24,907.20. This is the wealth that was generated from a single 10,000 IQD note that was given an original value of approximately $10! In this scenario, the IQD is slowly taken back in to the CBI eventually destroyed, leaving a manageable M2 behind, having created huge wealth throughout the world to re-supply what was allowed to be destroyed in the “great bleed” over a period of just a few weeks a couple of years ago, even the greatest redistribution of wealth the world has ever seen. Believe it or not, it has happened for this very purpose, and it is coming!
    31 replies | 2665 view(s)
  • Wolverine's Avatar
    12-14-2017, 08:21 PM
    6656 replies | 379027 view(s)
  • Investors Iraq News's Avatar
    12-14-2017, 03:14 PM
    Petrofac’s Engineering & Production Services (EPS) division has secured an award worth US$160 million from Basra Oil Company (BOC), previously known as South Oil Company (SOC), for its Iraq Crude Oil Export Expansion Project (ICOEEP). The new two-year extension reflects Petrofac’s continued delivery focus and five-year track record as the incumbent operations and maintenance service provider. The facility, which is responsible for a significant proportion of Iraq’s oil export, is located 60 kilometres (km) offshore the Al Fao Peninsula in Southern Iraq. It comprises a central metering and manifold platform and four Single Point Moorings (SPMs) which facilitate oil export onto awaiting crude carrier tankers. In addition, Petrofac is responsible for almost 300 km of subsea pipelines,1800 metres of subsea hose infrastructure and a marine spread comprising 14 vessels. Mani Rajapathy, Managing Director, Engineering & Production Services East, said: “We are delighted to continue with our role in support of this key crude export facility. Since the start of our involvement in 2012, we have exported more than 2.2 billion barrels of oil while retaining an impeccable safety record. We have also remained focused on adding value for our client through the deployment of innovative and differentiated solutions.” Ihsan Ismaael, Director General, Basra Oil Company, said: “Petrofac is a key partner for BOC. The team has supported us over the last five years to significantly increase export from the ICOEEP facility and we look forward to continuing our relationship into 2019.” (Source: Petrofac) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 56 view(s)
  • Investors Iraq News's Avatar
    12-14-2017, 03:14 PM
    By Padraig O’Hannelly. HRH The Prince of Wales has paid tribute to the work of the*AMAR International Charitable Foundation on the occasion of its 25th anniversary. Addressing the celebration in London’s Lancaster House on Wednesday, Prince Charles said: “Today is an opportunity to honour the work of the remarkable AMAR teams … whose professionalism has delivered extraordinary outcomes in health and education for so many people over these twenty-five years. “Each and every one of them, whether they work in Iraq or in another part of the Middle East, or in London or Washington, should feel deeply proud of all that AMAR has achieved. So too, should the many businesses and commercial entities – and in particular the Iraq Britain Business Council – whose magnificent support over the years has made all of this work possible. “If I may, I would also like to pay a special tribute to Baroness Nicholson whose indefatigable leadership and extraordinary professionalism has been so crucially important to this endeavour for so many years.“ He continued: “AMAR has given us all reason to have faith in humanity. It has saved countless lives, created hope from despair and achieved nothing short of miracles.” AMAR thanked the Prince for his wonderful support of the organisation since its founding, and in particular as its Patron for the past thirteen years. Please help ensure Iraq’s children have the childhoods they deserve — support AMAR’s work today: https://appeal.amarfoundation.org/ (Sources: AMAR International Charitable Foundation, Clarence House) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 58 view(s)
  • Investors Iraq News's Avatar
    12-14-2017, 03:14 PM
    By John Lee. Iraq’s Ministry of Oil has announced that it will start rehabilitation of the Salahuddin refineries 1 and 2 in Baiji district. Through its North Refineries Company (NOC), it has called on local and international companies to supply the equipment outlined below: (Source: Ministry of Oil) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 64 view(s)
  • Investors Iraq News's Avatar
    12-14-2017, 01:11 PM
    A top Kurdistan Regional Government delegation, headed by Prime Minister Nechirvan Barzani held an extensive meeting with the Kurdistan Parliament Deputy Speaker Jaafar Ebrahim Eminky and heads of Parliamentary Committees of Natural Resources, Industry, Energy, Financial and Legal Affairs. The KRG delegation included Deputy Prime Minister Qubad Talabani and a number of senior officials. In the meeting both sides discussed a number of pressing issues related to the current situation in the Kurdistan Region. They shed light on budget options for the 2018 fiscal year, relations with Baghdad, Kurdistan oil production, mechanisms to pay back debts, fighting corruption, transparency, reforms and efforts to protect the constitutional rights of the Kurdistan Region. The KRG and Parliament officials stressed on the importance of continued cooperation and coordination between the Kurdistan Government and Parliament and agreed that priority should be given to securing the salaries of the public sector employees, conducting reforms and auditing in the payroll systems of the Region. Both sides also agreed that relevant Kurdistan Parliament committees visit their federal counterparts in Baghdad to lobby against passing the draft 2018 federal budget bill that significantly reduced Kurdistan Region’s share of the federal budget. (Source: KRG) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 57 view(s)
  • Investors Iraq News's Avatar
    12-14-2017, 01:11 PM
    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. Anbar’s western desert is a hiding place for the Islamic State group, locals say. And they fear the extremists will be back as soon as an opportunity presents itself. Last week the Iraqi government declared victory over the extremist group known as the Islamic State. But, according to locals and military personnel living in the Anbar province, that declaration was premature. “I have seen no genuine indications that this province is rid of the Islamic State group,” says Ayad al-Nimrawi, a 43-year-old who runs a restaurant in the Kilo area, about 160 kilometres along the road between Baghdad and the Syrian-Jordanian border. “I still see commercial trucks accompanied by security details when they come along here. Even the security forces cannot travel down here alone, they require extra protection.” “I will only feel that we have won the final victory when I see life returning to this road as it was before the Islamic State came. We used to travel here at night without any fear of armed groups but today this international road is almost completely closed. As soon as dusk falls, this road is a death trap.” The victory celebrations were not about the complete eradication of the IS group, rather they were meant to be a signal about the end of military operations, suggests Tariq*Yusef*al-Asal, a police chief and one of the leaders of Anbar’s tribal militias fighting the Islamic State. “We have the right to be proud of the victories achieved by our security forces in the fighting that’s gone on over three years,” he told NIQASH. “We have sovereignty over our land again.” However, he adds, “it would be stupid to say that Iraq is now completely clean of extremist groups like the Islamic State. There are still sleeper cells and incubators inside and outside our cities.” “No country – not even European nations – can claim they are completely clean of Islamic State members,” he continued. “Those sleeper cells will keep the organisation alive and sustain it. These groups make good use of any security vacuum in any country to try and achieve their aims.” Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 57 view(s)
  • Brazileiro's Avatar
    12-14-2017, 12:58 PM
    hopefully,,,someone is working today as the site didn't work at 5am iraq time but did at 11am,,, now if they will start providing the services the CBI approved for them... would make for a very merry christmas :)
    33 replies | 8356 view(s)
  • James's Avatar
    12-14-2017, 09:34 AM
    James replied to a thread Warka online access in Warka Bank News
    I exceeded my pin limit, now waiting on them to rest it again. Hopefully soon....
    33 replies | 8356 view(s)
  • Brazileiro's Avatar
    12-14-2017, 08:36 AM
    Online access site is working again and so is my new password...
    33 replies | 8356 view(s)
  • dollarsign's Avatar
    12-13-2017, 06:06 PM
    https://cbi.iq/news/view/528 His Excellency the Governor of the Central Bank of Iraq, Ali Mohsen Ismail, preside a financial and banking delegation to the Kingdom of Saudi Arabia upon the invitation of the Saudi Arabian Monetary Authority.The delegation will discuss the prospects of cooperation between the two countries, especially regarding the development of banking relations between Riyadh and Baghdad and the creation of investment opportunities between the two countries. the pace quickens $
    39 replies | 2664 view(s)
  • Investors Iraq News's Avatar
    12-13-2017, 09:18 AM
    By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Reforming and Transforming SOMOThis analysis was presented via Skype Conference to the management and staff of Iraq’s State Oil Marketing Organization (SOMO) on 12th December 2017: Please click here to download the presentation. Mr Jiyad is an independent development consultant, scholar and Associate with the former Centre for Global Energy Studies (CGES), London. He was formerly a senior economist with the Iraq National Oil Company and Iraq’s Ministry of Oil, Chief Expert for the Council of Ministers, Director at the Ministry of Trade, and International Specialist with UN organizations in Uganda, Sudan and Jordan. He is now based in Norway (Email: mou-jiya(at)online.no, Skype ID: Ahmed Mousa Jiyad). Read more of Mr Jiyad’s biography here. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 63 view(s)
  • Investors Iraq News's Avatar
    12-13-2017, 09:18 AM
    By John Lee. Private investors from Iraq and Turkey have reportedly held preliminary negotiations with Iran to expand and modernize its fuel stations. According to a report from Petrol Plaza, there are 3,600 fuel stations and 2,400 compressed natural gas (CNG) stations in Iran which need renovation and investment. To date, more than 250 state-controlled fuel stations have been privatized in the country. (Source: Petrol Plaza) (Picture credit: Asadi S) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 62 view(s)
  • Investors Iraq News's Avatar
    12-13-2017, 09:18 AM
    By John Lee. Iraq has been ranked 168th out of 190 countries in the World Bank‘s recent Doing Business 2018 report, down from 165th place the previous year. Despite the fall in the rankings, the report notes that over the previous year Iraq simplified the process of starting a business by combining multiple registration procedures and reducing the time to register a company, and it launched a new credit registry, improving access to credit information. Top of the list were New Zealand,*Singapore and Denmark, with last place going to Somalia, just behind Eritrea and Venezuela. Iran ranked 124th, with Libya 185th. Doing Business measures regulations affecting 11 areas of the life of a business. Ten of these areas are included in this year’s ranking on the ease of doing business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. Doing Business also measures labor market regulation, which is not included in this year’s ranking. (Source: World Bank) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 69 view(s)
  • Investors Iraq News's Avatar
    12-13-2017, 09:18 AM
    The Federal Foreign Office of Germany has generously donated EUR 30 million (USD 34.8 million) to the Iraq Humanitarian Fund (IHF), a pooled fund led by the Humanitarian Coordinator and managed by OCHA. “We are deeply grateful to the German Government and the German people for this very generous contribution,” said the Humanitarian Coordinator for Iraq, Ms. Lise Grande (pictured). The German Government has already channelled USD 10.9 million to the IHF, bringing Germany’s total contribution for the year to the pooled fund to USD 45.7 million. “The pooled fund is the backbone of the humanitarian operation in Iraq,” said Ms. Grande. “More than 125 projects targeting 4.2 million Iraqis in nine governorates have received funding through the IHF in 2017 alone.” “The military campaign against ISIL is over, but the humanitarian crisis is not,” said Ms. Grande. “More than 3.3 million Iraqis are displaced–hundreds of thousands are living in camps and improvised shelters. They need help.” The IHF has provided more than USD 70 million to front-line partners in support the Mosul humanitarian operation. In October 2017, USD 14 million was allocated for the Hawiga operation. “Millions of Iraqis have suffered terribly,” said Ms. Grande. “Our top priority now is to help ensure that people who need help receive it. In the months ahead we will be working closely with the Government so that people are able to return to their homes safely, voluntarily and in dignity.’ (Source: OCHA) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 74 view(s)
  • Investors Iraq News's Avatar
    12-13-2017, 06:52 AM
    KRG Prime Minister Nechirvan Barzani inaugurated the new building of Kurdistan Institute of Public Administration (KIPA) on Tuesday. In a speech, Prime Minister Barzani stated, he hopes that KIPA “will continue to work diligently to provide the much needed services of building the capacities of Kurdistan Regional Government’s civil servants.” Below is the transcript of Mr. Barzani’s speech: Ladies and Gentlemen, Good Morning.* I would like to welcome you all to this ceremony of inaugurating the new building of Kurdistan Institute of Public Administration (KIPA). I would like to specially welcome the Republic of Korea’s Ambassador to Iraq Mr. Song Wong-Yeob, Korean Consul General in the Kurdistan Region and the Head of Korea International Cooperation Agency (KOICA) in Baghdad. I especially welcome Professor Park who came from Seoul specifically to this occasion and I welcome you all again. Today, human resources’ development is important for change and progress in all sectors and major fields, especially in the fields of governance and administration. Capacity building and Development is key to the development of Administrative, economic, social and cultural sectors. Competency and capacity are very important for human resources. One of the main pillars of human resources’ development is training. That is equipping the staff member with up-to-date information and more knowledge about their field of work. Information and knowledge get updated continuously. In order to enable the KRG institutions and their staff to cope with the progress in all fields, especially good governance, the KRG should make training and capacity building part of its human resources development strategy. Therefore, all technical, material and moral necessities should be made available for this purpose and all parties and individuals should be urged to adhere to implement the directives and instructions related to capacity building and training. And this is, again, for the purpose of developing the civil service in administrative, technical and theoretical areas based on modern principles. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 79 view(s)
  • 40plus's Avatar
    12-13-2017, 04:56 AM
    Good one! Very easy to ponder.
    6656 replies | 379027 view(s)
  • 40plus's Avatar
    12-13-2017, 04:42 AM
    Perhaps time was needed for not-so-secret combinations to position the 9 trillion USD "lost" from the FED...possibly first buried in those foreign currency reserves sent to all the Central Banks by Bush and then fast forwarded..like, on steroids to friendly players by O-bla-bla? Now that it's all been laundered into clean, crisp new dinar, the swamp rats can bring this latest and probably largest ever single heist to a conclusion and make Earth-changing, astronomical profits. 9 Trillion USD buys ?X? dinar...multiplied by an RV (not lop) and the big boys can finally let the Dollar, the USA and 90% of her people crash and burn. While the carnage ensues, they will be free and clear of it, sitting poolside in some Dubai high-rise owning the world's most stable new currency (ALL of it) from money they stole from us 'fair & square' because we didn't stop them. As the dust settles, they can come back to clean up the mess in America (costing chump change), convert the survivors into obedient (read unarmed) slaves or soilant green and start the whole game over again. ....I think it's time for my medication..ahhhhhh, nice..zzzzzzz
    39 replies | 2664 view(s)
  • dollarsign's Avatar
    12-12-2017, 06:44 PM
    you must really be lonely Bob...I can see why. :) ​$
    39 replies | 2664 view(s)
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