The Currency Newshound: Invitations for a revolution to reform the economy laws

The Currency Newshound Providing news which shapes the Iraqi economy and the future of the Iraqi Dinar

Invitations for a revolution to reform the economy laws Oct 13th 2012, 11:48 called specialists to the need to find new legislation and the introduction of laws aimed at the advancement of the national economy to achieve accompanying economies of countries in the world where changes rapidly in sectors all. Media files: currencynewshound

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The Currency Newshound: Finance Committee: Parliament has yet to see 2013 budget; If delayed it may not be seen until Feb or March of new year

The Currency Newshound Providing news which shapes the Iraqi economy and the future of the Iraqi Dinar

Finance Committee: Parliament has yet to see 2013 budget; If delayed it may not be seen until Feb or March of new year Oct 13th 2012, 11:57 confirmed parliamentary Finance Committee that the budget year 2013 have not yet reached the House of Representatives, loaded with the federal government responsible for delay. Media files: currencynewshound

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The Currency Newshound: House of Representatives reads first reading of the law of the Federation Council

The Currency Newshound Providing news which shapes the Iraqi economy and the future of the Iraqi Dinar

House of Representatives reads first reading of the law of the Federation Council Oct 13th 2012, 11:44 A parliamentary source said told all of Iraq [where] today that "Parliament read during its meeting held on Saturday, the first reading of the proposed law of the Federation Council. by the Legal Committee and the Committee of the Regions and the provinces. Media files: currencynewshound

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The Currency Newshound: IMF and World Bank Annual Assembly kicks off in Japan with the participation of Iraq

The Currency Newshound Providing news which shapes the Iraqi economy and the future of the Iraqi Dinar

IMF and World Bank Annual Assembly kicks off in Japan with the participation of Iraq Oct 13th 2012, 12:00 BAGHDAD / obelisk: launched in the Japanese capital Tokyo, Friday, the annual assembly of the IMF and the World Bank with the participation of the Central Bank of Iraq. Media files: currencynewshound

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The Currency Newshound: Russian President calls for the lifting of restrictions that hinder trade between Russia and Iraq

The Currency Newshound Providing news which shapes the Iraqi economy and the future of the Iraqi Dinar

Russian President calls for the lifting of restrictions that hinder trade between Russia and Iraq Oct 13th 2012, 11:43 Russian President Vladimir Putin with Iraqi Prime Minister Nuri al-Maliki talks focused on economic cooperation between Russia and Iraq and reviewed the obstacles to trade. Media files: currencynewshound

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The Currency Newshound: Historical Photo: A quarter of Iraqi dinars in 1944

The Currency Newshound Providing news which shapes the Iraqi economy and the future of the Iraqi Dinar

Historical Photo: A quarter of Iraqi dinars in 1944 Oct 13th 2012, 11:40 Historical Photo: A quarter of Iraqi dinars in 1944 Media files: currencynewshound Screen Shot 2012-10-13 at 6.36.44 AM

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The Currency Newshound: Iraq House of Representative prepare for Eid holiday beginning Oct 15-Nov 6

The Currency Newshound Providing news which shapes the Iraqi economy and the future of the Iraqi Dinar

Iraq House of Representative prepare for Eid holiday beginning Oct 15-Nov 6 Oct 13th 2012, 11:41 Parliamentary source revealed, Tuesday, that the Presidency of the Council of Representatives decided to determine the holiday of Eid al-Adha in three weeks, starting from the 15th of the current month and until the sixth of November. Media files: currencynewshound

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The Currency Newshound: CBI rejects corruption charges; Stream of people ask for activating the investigation on the ‘excesses’ of the Ministry of Finance

The Currency Newshound Providing news which shapes the Iraqi economy and the future of the Iraqi Dinar

CBI rejects corruption charges; Stream of people ask for activating the investigation on the 'excesses' of the Ministry of Finance Oct 13th 2012, 11:47 BAGHDAD (Union) - The Central Bank of Iraq yesterday on corruption charges, and described it as "pure fabrication and vague purpose. He announced that he Sifand these allegations, and sue all the parties and persons who brandishing it. Media files: currencynewshound

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The Currency Newshound: Workshop discusses dropping of the zeros

The Currency Newshound Providing news which shapes the Iraqi economy and the future of the Iraqi Dinar

Workshop discusses dropping of the zeros Oct 13th 2012, 11:53 discussed a workshop organized by the Office of the representatives of the Iraqi parliament in the province of Maysan on the mechanism of deleting three zeros from the Iraqi currency was attended by representatives of Maysan MPs Mohammed Saadoun Chihod Rafi Abd al-Jabbar Noshi and professors from the University of Maysan and bank managers and specialists affairs and financial arithmetic and Mmmthelo civil society organizations in province. Media files: currencynewshound

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The Currency Newshound: Deputy: underdevelopment of the banking sector and the lack of security and stability the most important challenges of investing in Iraq

The Currency Newshound Providing news which shapes the Iraqi economy and the future of the Iraqi Dinar

Deputy: underdevelopment of the banking sector and the lack of security and stability the most important challenges of investing in Iraq Oct 13th 2012, 11:54 Follow-up - and babysit - reported by the Commission services and reconstruction MP / coalition of Kurdish blocs / Cheyenne Mohammed Taher, that highlighted the challenges facing the sector investment in Iraq is failure of the banking system for banking technologies global, and the lack of stability of a security fully, which led to the reluctance of many from international companies to invest in the country, calling to amend the investment law format attract companies and promote the country's economic process. Media files: currencynewshound

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The Currency Newshound: IMF warns of debt crisis of rich nations

The Currency Newshound Providing news which shapes the Iraqi economy and the future of the Iraqi Dinar

IMF warns of debt crisis of rich nations Oct 13th 2012, 11:58 BAGHDAD - babysit - Director-General warned of the International Monetary Fund Christine Lagarde Friday that public debt accumulated rich countries are close to the levels recorded in the "wartime", arguing that the "hurdle" would only be overcome behavior "difficult road". Media files: currencynewshound

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The Currency Newshound: Shabibi at IMF Conference: CBI delegation looking to preserve value of currency, food prices, and diversify economic growth

The Currency Newshound Providing news which shapes the Iraqi economy and the future of the Iraqi Dinar

Shabibi at IMF Conference: CBI delegation looking to preserve value of currency, food prices, and diversify economic growth Oct 13th 2012, 12:06 Iraq participated acting Annual Assembly of the International Monetary Fund and World Bank representatives of Iraq's central bank. Media files: currencynewshound

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Iraq Updates - Economy: Dubai Financial Market DFM to Help Establish Erbil Stock Exchange in Iraqi Kurdistan

Iraq Updates - Economy The latest news about Economy in Iraq

Dubai Financial Market DFM to Help Establish Erbil Stock Exchange in Iraqi Kurdistan Oct 12th 2012, 06:06 Dubai Financial Market (DFM) received a high level delegation from the Iraq's autonomous region of Kurdistan. The visit is part of an understanding to set up the Erbil Stock Exchange (ESX), with the technical support of DFM. The visiting delegation...

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Iraq Updates - Economy: Iraq Private Banks Fund Small and Medium Projects

Iraq Updates - Economy The latest news about Economy in Iraq

Iraq Private Banks Fund Small and Medium Projects Oct 12th 2012, 06:48 In bid to curb unemployment in Iraq, Iraqi private banks in cooperation with US International Development Agency USAID started to fund small and medium projects for Iraqi citizens. These projects turned out to be very lucrative which led to the increase...

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Iraq Updates - Economy: Russia Signs $4.2 Billion in Arms Deals with Iraq

Iraq Updates - Economy The latest news about Economy in Iraq

Russia Signs $4.2 Billion in Arms Deals with Iraq Oct 12th 2012, 05:22 Russia announced on Tuesday it has signed $4.2 billion in arms deals with Iraq, making it the largest weapons supplier to the Middle East country after the United States.

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Iraq Updates - Economy: The Great Zloty Fraud: a Tale of Money Changers in Karbala

Iraq Updates - Economy The latest news about Economy in Iraq

The Great Zloty Fraud: a Tale of Money Changers in Karbala Oct 12th 2012, 05:44 Unofficial money changers are common in Iraq and trade is particularly brisk in the tourist town of Karbala. But recently a gang of fraudsters swapping outdated Polish zloty have caused fear and consternation...

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Iraq Business News: Iraq to Maintain Basra Oil Exports in 2H-Oct

Iraq Business News All the latest business news from Iraq

Iraq to Maintain Basra Oil Exports in 2H-Oct Oct 12th 2012, 18:15 By John Lee. Bloomberg reports that Iraq will ship 25 cargoes of Basrah light crude from the Persian Gulf in the second half of October, compared with 21 in the previous two-week period. According to the loading program, Iraq will export a total of 36.6 million barrels from the al-Basrah Oil Terminal (ABOT) (pictured), 2.2 million barrels more than in the first half of this month. At 2.29 million bpd, this is roughly the same export rate as two weeks earlier. The shipments are planned as: 13 consignments of 2 million barrels each; eight 1 million-barrel lots; and, one lot each of 930,000, 715,000, 556,000 and 444,000 barrels. (Source: Bloomberg)

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Iraq Business News: Invest In Iraq – Golden Opportunity For SMEs

Iraq Business News All the latest business news from Iraq

Invest In Iraq – Golden Opportunity For SMEs Oct 12th 2012, 18:14 A special conference is being held in London next month aimed specifically at SMEs who are interested in breaking in to the Iraqi market. Iraq is potentially one of the richest countries on the planet with wealth from mega oil fields boosting the economy by up to £7 billion a month. Many billions more will come from untapped gas reserves and minerals. Until now only major companies like the oil giants have landed the big contracts but as Iraq develops there are outstanding opportunities for small to medium sized business in a country which is rebuilding from the ground up. Iraq’s Government values UK expertise and time and again have stated: “We want the British here!” The Iraq Britain Business Council (IBBC) in conjunction with UKTI is staging the conference in London on November 6th 2012 at 1 Victoria Street, London SW1H 0ET when the afternoon session will be dedicated to SMEs and how they can break in to the Iraqi market. SME delegates will be able to mingle with senior executives from major coporations and senior figures from banking and finance who are already operating in Iraq. There will also be a chance to meet senior Iraq politicians and officials to discuss the possibility of this challenging but potentially high rewarding market. To reserve a place please e-mail London@webuildiraq.org or telephone 0207 222 7100.

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Iraq Business News: Environment Ministry Approves 30 Projects

Iraq Business News All the latest business news from Iraq

Environment Ministry Approves 30 Projects Oct 12th 2012, 18:15 By John Lee. Iraq’s Ministry of Environment has approved thirty projects in services, industrial and agricultural fields in Wasit province. Its official spokesperson and the director of environmental information, Amer Ali Hasson, said the projects included seven services projects and 13 industrial projects, in addition to ten agricultural projects. (Source: AIN) (Picture: Iraqi Environment Minister, Sargon Lazon Sliwah)

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Iraq Business News: WesternZagros Confirms Oil at Kurdamir-2

Iraq Business News All the latest business news from Iraq

WesternZagros Confirms Oil at Kurdamir-2 Oct 12th 2012, 18:15 By John Lee. WesternZagros Resources has completed its testing program in the deepest of the three stacked reservoirs drilled by the Kurdamir-2 exploration well in the Kurdistan Region of Iraq. The testing confirmed an oil discovery in low permeability fractured limestones of the Cretaceous-age, Shiranish Formation, adding to the previously announced major oil discovery in the Oligocene reservoir. The Shiranish reservoir exhibited non-commercial flow rates in this location. The combined audited unrisked mean estimate for all three reservoirs on the Kurdamir prospect is 1,609 million barrels (“MMbbl”) of prospective oil resources as at May 31, 2012, 11 percent of which (181 MMbbls), is attributed to the Cretaceous. The Company now expects this number for the Cretaceous to be revised downward, although it is not expected to materially change the estimate of prospective resources of the whole Kurdamir prospect. Commenting on the Shiranish test results, WesternZagros’s Chief Executive Officer Simon Hatfield (pictured) said: “While we had hoped that the Shiranish reservoir might duplicate the tremendous results we saw in the Oligocene, we also knew that the characteristics of the Shiranish vary a great deal by location. Although we didn’t achieve a commercial flow rate due to the tight nature of the Shiranish reservoir at Kurdamir -2, we did confirm it contains light oil. “These test results add to the growing evidence that Kurdamir and the neighbouring Tophkana structure are in fact a giant shared structure with common oil accumulations. We look forward to the remainder of the Kurdamir-2 testing program, focusing on the shallower Eocene reservoir and our main target of the Oligocene reservoir.“ As previously reported in March 2012, the first drill stem test on the Kurdamir-2 well resulted in a major oil discovery in the Oligocene interval. The well was then drilled to a total depth of 4,000 metres in June 2012. In addition to the oil-bearing intervals encountered in the Oligocene and Eocene reservoirs, hydrocarbon shows and wireline logs indicated the presence of a gross hydrocarbon-bearing interval of approximately 500 metres of fractured limestones and marls in the Shiranish Formation, which was the focus of the recent testing program. The Shiranish testing program consisted of three cased hole tests over a 221 metres gross interval and resulted in the flow of light, 39 to 40 degree API oil at sub-commercial rates. Further evaluation, including additional analyses of the test results, followed by the already planned extensive 3D seismic program, will be required to better understand if the Shiranish is likely to have commercial reservoir characteristics. The Company is encouraged that the Shiranish testing program recovered oil from a depth that is significantly deeper than the limit of closure of the Kurdamir structure at the Cretaceous level as mapped from seismic data. This finding supports the observation that the Shiranish reservoir, in a similar fashion as the Oligocene reservoir, is also involved in a considerably larger trap and that Kurdamir and the neighbouring Tophkana structure share a common oil accumulation in the Shiranish reservoir. The testing operations in the Shiranish interval were concluded on October 9, 2012, following a number of delays due to downhole tool problems. Preparations are currently underway to conduct a cased hole testing program on the interpreted 275 metres of gross oil pay in the Eocene before moving further uphole to conduct additional testing on the main zone of interest in this well, the 118 metres of gross oil pay already discovered in the Oligocene. The operator, Talisman (Block K44) B.V. and WesternZagros are also planning a 3D seismic program over the Kurdamir and Topkhana structures and a further appraisal well (Kurdamir-3) to assess the ultimate size of the Kurdamir discovery. WesternZagros and Talisman each have a 40 percent working interest in the Kurdamir Block, with the Kurdistan Regional Government holding the remaining 20 percent. (Source: WesternZagros)

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Iraq Business News: Iraq to Spend $1bn on Czech Attack Jets

Iraq Business News All the latest business news from Iraq

Iraq to Spend $1bn on Czech Attack Jets Oct 12th 2012, 18:16 By John Lee. Iraq has agreed to buy 28 Czech-made Aero Vodochody L-159 advanced trainer/light-attack jets valued at $1 billion dollars (770 billions euros), a Czech defence ministry announced on Friday. Agreenment to buy the 24 new planes and four older army surplus aircraft was reached at the end of a two-day visit to Prague by Nouri al-Maliki. Earlier in the week, Iraq and Russia announced a $4.2 billion arms agreement. (Sources: Daily Star, Bloomberg, AFP)

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The Currency Newshound: CBI considered the accusations as “sheer fabrication” and warns of the risks to the national economy

The Currency Newshound Providing news which shapes the Iraqi economy and the future of the Iraqi Dinar

CBI considered the accusations as "sheer fabrication" and warns of the risks to the national economy Oct 12th 2012, 15:39 considered CBI, Friday, accusations directed him "pure fabrication" and unknown purposes, confirming that it was the reputation of the Iraqi Central Bank and the national economy to the "danger", while pointing out that he will rebutted these unsubstantiated allegations and prosecute all parties and persons who brandishing it. Media files: currencynewshound

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The Currency Newshound: Shabibi threatens to sue entities that seek to determine the monetary policy of the Central Bank

The Currency Newshound Providing news which shapes the Iraqi economy and the future of the Iraqi Dinar

Shabibi threatens to sue entities that seek to determine the monetary policy of the Central Bank Oct 12th 2012, 15:41 BAGHDAD / obelisk: threatened Iraqi Central Bank Governor Sinan al-Shabibi, Friday, in the first response since the criticism directed to his foundation, to sue entities that seek to "determine how the" bank, stressing that there was "extensive campaign" designed to damage the national economy, in what was considered that doubt Bmhnih "false allegations." Media files: currencynewshound

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The Currency Newshound: Shabibi threatens to sue entities that seek to determine the monetary policy of the Central Bank

The Currency Newshound Providing news which shapes the Iraqi economy and the future of the Iraqi Dinar

Shabibi threatens to sue entities that seek to determine the monetary policy of the Central Bank Oct 12th 2012, 15:41 BAGHDAD / obelisk: threatened Iraqi Central Bank Governor Sinan al-Shabibi, Friday, in the first response since the criticism directed to his foundation, to sue entities that seek to "determine how the" bank, stressing that there was "extensive campaign" designed to damage the national economy, in what was considered that doubt Bmhnih "false allegations." Media files: currencynewshound

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The Currency Newshound: Talabani: dialogues and meetings in the coming days to resolve the outstanding problems between the Iraqis

The Currency Newshound Providing news which shapes the Iraqi economy and the future of the Iraqi Dinar

Talabani: dialogues and meetings in the coming days to resolve the outstanding problems between the Iraqis Oct 12th 2012, 15:31 Iraqi President Jalal Talabani that the coming days will witness dialogues and meetings deeper between Iraqis in order to resolve the outstanding problems. According to a statement issued by the Presidency of the Republic on Thursday that Talabani received a large delegation from the Kurdistan Alliance in the House of Representatives discussed the political situation and the efforts made in order to reach national understandings between the political parties. Media files: currencynewshound

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