Iraqi Council of Representatives intended to support the Central Bank of zeros on the removal of currency
Iraqi Council of Representatives intended to support the Central Bank of zeros on the removal of currency
Source: Baghdad, the statement
Date: August 3, 2012
Announced the Finance Committee in the Iraqi Council of Representatives that the legislature tends to support the central bank policy on the removal of zeros from the currency.
The central bank says it completed a road map to get rid of three zeros from the currency, to reduce the money supply and ease of financial transactions in line with the new situation of the Iraqi economy, but the government and the Securities Commission have shown Khchithma that affect the process negatively on financial trading in the Iraqi market for securities .
A member of the parliamentary finance committee, Najiba Najib, in a press statement, said that there is a tendency by the legislature with the support of the Central Bank's policy to restructure the Iraqi currency and delete zeros at the beginning of next year.
She explained that this issue began to mature day by day for the members of the Finance Committee and the Economic Commission, noting that preparations for the central bank to implement the project under way, but it is incomplete yet.
They pointed out Najib, the Deputy for the Kurdistan Alliance, that the project will be implemented over two years by government banks, and will be part of the new currency coins of small denominations.
There will also be major currencies corresponding to $ 180, or 200 thousand Iraqi dinars from the current currency. She added: Through extensive discussions with the Central Bank.
And what has been providing us with the studies from the World Bank, the project aims to support the Iraqi currency, in addition to the introduction of new categories of currency markets, as well as reduce the size of the money supply, as well as the inclusion of Arabic and Kurdish.
http://www.albayan.ae/
Baghdad (NINA) – Spokesman for the Government, Ali al-Dabbagh, said that the visit of Turkey's Foreign Minister, Ahmet Davutoglu, to Kirkuk took place without the approval of the Federal Government.
In a statement to Iraqiya Channel, Dabbagh added that it is a grave violation against Iraq's sovereignty and Kurdistan region bear the responsibility of this violation. / End.
http://www.ninanews.com/Arabic/index.asp
Hyundai Among 16 Companies Bidding For Breakwater In Iraq
By Khalid Al Ansary - Aug 3, 2012 3:30 AM ET
Hyundai Engineering & Construction (000720) is among 16 companies that bid to build a breakwater for the $6 billion first phase of the Grand Fao port in the south of Iraq, said the director general of the State Company for Iraq’s Ports.
Daewoo Engineering & Construction Co. (047040), Dredging International, China Communications Construction Co. (1800) and Al Habtoor Leighton Group are also among the bidders for the 480 billion-dinar ($412 million) breakwater, Omran Radhi said in a telephone interview from Baghdad yesterday. Brazilian, Turkish, Italian, Ukrainian, Jordanian and Iraqi companies have submitted bids as well, he said.
Results will be made public after an evaluation that will take up to two months, Radhi said, adding that the government will finance construction of the breakwater.
The Grand Fao port will have a capacity of more than 30 ships and will provide at least 100,000 jobs, Radhi said in a March 5 interview.
Iraq holds the world’s fifth-largest crude deposits including Canadian oil sands, according to data from BP Plc. (BP/) The government is trying to attract foreign investment and expertise to help rebuild the infrastructure and boost energy exports to revive an economy shattered by years of conflict, sanctions and sabotage.
http://www.bloomberg.com/news/2012-08-03/hyundai-among-16-companies-bidding-for-breakwater-in-iraq.html