Monthly Archives: June 2011
33000 People Forced to Leave Their Home Towns in Southern Iraq’s Missan Province Compensated
| June 30, 2011 | Filled under Iraq Daily News |
Iraq’s Council of Ministers has decided to cover people, forced by Iraq’s former ruling Baath regime, to leave their home towns in southern Iraq’s Missan Province, who were residents of its Ahwars (Marchland), with Article 140 of the Constitution, on their compensation. “The Council’s instruction covers all those, forced to leave Missan to another province, or outside Iraq, during the…
Loss of Zain Executive Adds Pressure to Firm
| June 30, 2011 | Filled under Iraq Daily News |
The loss of a top executive is yet another disruption for the Kuwaiti mobile operator Zain, which has had a choppy few months since Etisalat’s takeover bid collapsed. Zain, also known as Mobile Telecommunications Company, said yesterday it would be losing its chief operating officer when his contract expires tomorrow. Abdul Malek Al Jaber will now focus on “personal business…
Iraq Is Heading to Write Off Three Zeros From the Local Currency
| June 30, 2011 | Filled under Iraq Daily News |
Baghdad, In a move aimed at the development of the payments system of Iraq, the Iraqi Central Bank announced recently a plan to restructure the local currency by raising the level of the local currency and the development of new categories of paper. He justified the appearance of the central bank adviser Mohammed Saleh, a move that the Iraqi dinar…
World Bank Acts to Encourage Investing in Mideast
| June 29, 2011 | Filled under Iraq Daily News |
Risk guarantee agency says it will back $1 billion in insurance coverage to spur foreign direct investment. The World Bank’s political risk guarantee agency said on Monday it would mobilise about US$1 billion for insurance coverage for countries in the Middle East and North Africa to encourage foreign direct investment. The Multilateral Investment Guarantee Agency, or MIGA, said its underwriters were…
More Local Troops to Help UN in Iraq: UN Partnership for Peace
| June 29, 2011 | Filled under Iraq Daily News |
Additional troops will be deployed to Iraq immediately to assist the United Nations in its security measure in the war torn country. Cabinet yesterday endorsed the immediate deployment of 55 additional troops to Iraq, bringing the total strength to 278 soldiers of all ranks. A Ministry of Information statement read Fiji had been committing peacekeeping troops to Iraq since December 2004.…
Two Currencies Coexist Together and Gradual Replacement
| June 28, 2011 | Filled under Featured Article |
BAGHDAD – Ahmed Saleh Khyoun CBI begins the end of the year and gradually replace the currency now in circulation a new currency which zeroes deleted within the strategy to reform the monetary system started in 2005. Bank consultant and announced the appearance of Mohammed Saleh told (time) on that (the bank has completed 50 percent of a strategy switch…
The U.S. Military Spends More Than $20 Billion Annually on Air Conditioning in Iraq and Afghanistan
| June 27, 2011 | Filled under Iraq Daily News |
Detection experts, Sunday, that the U.S. military spends about $ 20 billion annually on air conditioning in Iraq and Afghanistan, a Maevouk the shelf Petroleum Company (BP) until now to compensate for the damage to the oil spill in the Gulf, as equivalent to its pledges Group of Eight as assistant to strengthen the new democracies in Egypt and Tunisia. The…
Arab League Supports Iraq to Head the United Nations Food and Agricultural Organization
| June 26, 2011 | Filled under Iraq Daily News |
Arab League supports the candidate of Iraq to the post of Director-General of FAO CAIRO (Agencies): announced the Sheriff Hassan Fouad, Arab League representative in the Italian capital Rome, the University of absolute support for the candidate for the office of the Iraqi Director General of the Food and Agriculture Organization [FAO] of the Rome-based, Dr. Abdul Latif Jamal Rashid. And…
Alstom in Deal to Build High-Speed Rail in Iraq
| June 26, 2011 | Filled under Iraq Daily News |
French engineering group Alstom is in exclusive talks to build a high-speed rail line between Baghdad and Basra in Iraq, French junior transport minister Thierry Mariani said. “Alstom and the Iraqi railway have signed a memorandum of understanding to build a high-speed rail line between Baghdad and Basra,” Mariani told journalists at the Paris International Airshow. The two will hold exclusive…
So What Is Your Best Guess for an Iraq RV Rate?
| June 26, 2011 | Filled under Featured Article |
Poll: CBI has announced it is restructuring the dinar; So what is your best guess for an Iraq RV rate? As excitement builds around June 30th, 2011 and the recent news regarding Iraq’s CBI announcement of “dropping the zero’s” another question builds as well…What will the new exchange rate be at time of the RV? Majority or 37% of those who…
Iraq Demands US Hand Back Billions of Missing Oil Revenue
| June 26, 2011 | Filled under Iraq Daily News |
IRAQ’S parliament Speaker, on a visit to Washington, will query American officials about $17 billion in missing oil money, a Baghdad politician said today. Head of parliament’s anti-graft committee Baha al-Araji said Speaker Osama al-Nujaifi, who left for Washington on Tuesday, would bring up the question of the missing billions, which have been under investigation for years. Last week, US…
Iran to Provide Iraq Electricity Ministry With 1.5 Million Liters of Gasoil Per Day
| June 24, 2011 | Filled under Iraq Daily News |
Iraq Ministry of Electricity said that it signed a contract with Iranian Ministry of Oil in order to provide it with 1.5 million liters of oil daily for a year. The Ministry stressed that oil will be transported via Iranian oil tankers and it will be sold to Iraq according to the international market price. On the other hand, Iran Oil…
Iraq Central Bank: Inflation Rate to Reach 7% in Iraq in June
| June 24, 2011 | Filled under Iraq Daily News |
Iraq Central Bank expected inflation rate in Iraq to reach 7% and pointed that the increase of oil prices is one of the main reasons of inflation in the country. To that, the same source stressed that the national goods production is weak if compared with services sector which is booming. Iraq inflation rate was 3% and was expected to…
Central Bank Declares Its Readiness to Start Deleting Zeros From the Iraqi Currency
| June 24, 2011 | Filled under Iraq Daily News |
(Voice of Iraq) – Alsumaria News / Baghdad Central Bank of Iraq, Thursday, for his willingness to delete the zeros of the Iraqi currency, and as he emphasized that this step is one of the strategic functions of the Bank, pointed out that the new currency will contain on the Kurdish language in addition to Arabic. The adviser said the Iraqi…
Iraq’s Moribund Manufacturing Sector Appeals for Help
| June 23, 2011 | Filled under Iraq Daily News |
BAGHDAD (Reuters) – Standing beside the dust- covered machines of his idle biscuit and sweet factory in eastern Baghdad, Fadhil al-Abboudi says Iraq’s small private manufacturers are feeling abandoned. Despite government announcements of ambitious plans to expand Iraq’s oil sector, whose huge energy reserves invite comparisons with Iran’s, Iraqi entrepreneurs see no such support for moribund small and medium-sized private industries.…
For Baghdad’s Poor, City Garbage Brings in the Bread
| June 23, 2011 | Filled under Iraq Daily News |
(Reuters) – Iraq’s leaders hope the country’s still largely untapped oil wealth can one day rival Saudi Arabia and provide a decent living to its citizens after years of conflict and chaos. But for 12-year-old Abbas Mohammed and his family, it is used plastic bottles and empty aluminum cans that keep them alive. Mohammed spends his school summer holidays picking through…
Faw Fishermen Caught in Iraq’s Maritime Disputes With Iran, Kuwait
| June 23, 2011 | Filled under Iraq Daily News |
Like the fish they net, fishermen in Iraq’s southernmost Faw peninsula find themselves trapped by their country’s unresolved maritime disputes with neighbouring Iran and Kuwait. The boundary frictions, fishermen complain, are eroding an age-old way of life as well as their livelihoods. Muhammad Hussein, 50, remembers a time when the narrow Faw peninsula, where the mighty Tigris and Euphrates…
New Clashes in Iraq Over Electricity Cuts
| June 22, 2011 | Filled under Iraq Daily News |
Iraqi police fired water cannon Monday to disperse stone-throwing protesters in the southern city of Nassiriya, demonstrating over crippling power cuts that are stoking tensions following a March election. Nassiriya provincial council spokesman Nasif al-Hashemi said 14 policemen were wounded in the clashes, which followed similar scenes in the southern oil hub of Basra Saturday. Two people died in…
Actions to Recover Money and Property That Escaped During the Period of the Previous Regime
| June 22, 2011 | Filled under Iraq Daily News |
Cairo – Isra-Khalifa Iraq began the movements and wide to recover all money and property that escaped during the period of the previous regime. Has put the integrity of a new mechanism to recover these funds and assets, where the said Board member Dr. Khalid Al-Maamouri “morning”: that “there are large sums and large returns to Iraq, fled during…
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