Posts Tagged ‘Business’

18 Dec 2013

Overall Rank of 151

For the last few years World Bank is publishing its Doing Business report on laws rules, and taxes that regulate business around the globe. So far, Iraq has done poor performances as per those reports. Previously the country was regulated by the autocratic dictator Saddam Hussein. The socialist state-run economy of Iraq was not up to the mark to attract the investors within the country. (more…)

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Minister of Planning for “time”: We will apply the customs tariff with effect from the beginning of January next

Published on Tuesday, 10 January 1 / December 2013 09:54 (more…)

IPO, “National Bank of Iraq,” to raise capital
December 5, 2013 13:19

National Bank of Iraq (BNOI)
Next Monday .. IPO (more…)

On December 4, 2013

Amman: Iraq News Network – to coincide with the entry of the United Bank for Investment twentieth year in the Financial Action Task Force and the banking and the culmination of his activities and his outstanding efforts in establishing the rules of transparency pursued by the performance and mutations great achievements in the development of his work and its potential and intention sincere in contributing to the support and financing of economic development in all sectors (more…)

VietNamNet Bridge – International investors and foreign direct investment (FDI) enterprises operating in the country may be allowed to open investment accounts in Vietnamese dong in addition to those in foreign currency.

The central bank has been passing around a draft circular governing the management of foreign exchange operations related to FDI enterprises in the country. (more…)

Confirmed a member of the Economic Committee MP / coalition in Iraq / Nora Bijari, that the spread of the culture of dealing with money-mail rather than cash contribute significantly to improving the system of payments and strengthen it.

said Bijari (of the Agency news): The activation of the payment system by ironing card and the balance of Mobile maintains liquidity in the bank accounts and reduced cost transportation and protection money from one place to another. (more…)

Economic
An expected budget deficit next year to low oil production

09-11-2013 12:47 PM

Baghdad (newsletter). Excluded Economist Mohammed dargham, a financial abundance in the current year’s budget for the implementation of projects stalled, indicating a lack of financial income due to lack of oil production. (more…)

Shankali: merge small banks serving owners and support investors

10-11-2013 04:41 AM
Baghdad (newsletter). He welcomed the Economic Committee member MP/Kurdish Alliance/j. shankali, the idea of integration of small private banks to ensure their survival and to compete for the global economy. (more…)

10/23/2013 12:00 AM

BAGHDAD – morning
counting parliamentary Investment Law No. 13 of 2013 and its amendments Palmrn to its potential in facilitating investments, but did not reach the standard format to attract.

said a member of the Economic Commission parliamentary deputy Abdul-Abbas Xiaa: The legislation window to اتلبي ambitious investor in some joints. pointing out that Amendment expected the investment law will be issued to contain loopholes that confuse reality venture. (more…)

08-10-2013 10:01 AM

Baghdad (newsletter). He called the economy and Investment Committee member MP/Abdul Al-Abbas sheyaa, the Central Bank to speed up the implementation of the project of linking the local banks with a unified communications network to facilitate financial transactions and to create environment for investment and development in the country.

Said sheyaa (News Agency): the planned Central Bank and link the local banks with a unified communications network operated by the international company will contribute to the development of the banking system. (more…)

09/22/2013 12:00 AM

Yasser incumbent
prepares Association of private banks in Iraq to hold its first conference at a time when banks resulted in unprecedented by some who does not understands something Yalsiesten fiscal and monetary but he picked up a foul here or there Fastglha to highlight his talents on the air without regard for what caused these statements of abuse the reputation of banks internationally and delayed development required (more…)

11:51 05/09/2013

A member of the parliamentary Economic Committee Hussein المرعبي that passing a law exempting foreign companies from taxes and fees will attract large investment firms to operate in the country.

He said المرعبي in a statement received news agency public opinion (and babysit) a copy of “the country needs real to attract global investment firms discreet to build hundreds of thousands of housing units in addition to the infrastructure, roads, bridges and the like, indicating that these companies will run a lot of manpower and ستنعش economy and tourism . ”
(more…)

05-09-2013 05:28 AM
Baghdad (newsletter). Invited Member of the Committee on the economy and investment, a Deputy from the Kurdistan blocs Coalition//j. shankali, the need to grant special privileges to fetch headers domestic funds overseas for the immigrant investment in the country.

Said shankali (News Agency): escape the heads of local funds abroad due to the poor security situation in the country which constituted a major threat to domestic and foreign investors, as they met lone investment in neighbouring countries. (more…)

Tuesday, August 27, 2013

Deputy: inability to approve oil and gas law in the current session despite the importance
Kurdish Deputy not to approve oil and gas law in the current session of Parliament, despite its importance. (more…)

24/08/2013 12:00 AM

is insurance on investment projects implemented by foreign companies with insurance companies Iraqi urgent need to achieve the greatest benefit to the economy, because that – according to academic economist – contributes to the employment of money and the expansion of domestic investment in various sectors because companies Insurance can benefit from hiring their money in many ways to ensure the sustainability of its business through the achievement of revenue good investments and real estate loans and contribute to private sector companies and mixed. (more…)

08/21/2013 12:00 AM

Systems do not keep pace with banking modern

suffer the banking sector in Iraq from the many challenges and needs sweeping reforms with a view to carrying out its functions key to be able to keep up with international developments and work according to their standards. In this regard indicates banking expert Samir النصيري to malfunction significantly in the banking system boils down to having to huge liquidity but untapped promise this phenomenon Balemczuhh the banking activity. النصيري (more…)

confirmed the Commission on oil and energy parliamentary, it’s the process of an amendment the second law on private investment in the field of oil to encourage domestic and foreign companies to invest in the oil sector.

Said decision of the Commission on oil MP / Kurdistan Alliance / Qassim Mohammed Qassem: that his committee had conducted an amendment to a preliminary law on private investment in the oil field, and now the process of an amendment the second out format agreed by the parliamentary blocs to be passed to the presidency of the Council for the purpose of voting. (more…)

08/08/2013 5:57 pm

called for economic and investment commission in the House of Representatives to take advantage of oil resources for the development of other sectors in the country, and the formation of a fund to support the private sector.

said committee member Rep. Salman al-Moussawi told a news briefing Thursday: “The oil resources are an advantage strategy must be exploited in order to development of the economy and support other sectors, lack of investment in the disbursement of salaries and allowances, but also be an important factor in supporting the sectors of industry, trade and tourism until the country can make to Hmurda secondary non-oil. ” (more…)

An invitation to create a supportive legislation for economic development

07/29/2013 12:00 AM

BAGHDAD – Hussein ثغب Tamimi
called Chairman National Business Ibrahim al-Baghdadi, activating the system of laws that encourage economic development in all sectors of production and service.

and Baghdadi said in an interview (morning): The reality of the Iraqi economy is now better than before after being granted freedom in dealing International and became a source of confidence to the world, surpassing the provisions of Chapter VII, which was hindering development in all sectors due to determined to enter the international companies in accordance with the provisions. (more…)

Citibank World: Iraq’s biggest goal and see the economic giant agonist
July 27, 2013
Description Citibank Global, which opened the end of June past Moktaba him in Baghdad, “that Iraq is the biggest goal” in the banking activities in the future. (more…)

Oil parliamentary: Iraq needs oil refineries and the 12 refinery in the country does not fill the need

Between a member of the Commission on oil and energy parliamentary MP / mass change / Bayazid Hassan, that Iraq needs oil to refineries for the purpose of bridging the daily needs, and what now owned refinery of 12 is sufficient for this purpose.

Hassan said: The 12 Mustafa has three big ones in Bhristi session in Baghdad and Basra, and production of all refineries almost 704 thousand barrels per day, noting: that Iraq needs to quantities gasoline, oil and other oil derivatives. (more…)

Called for a number of members of the Iraqi Council of Representatives to the enactment of the oil and gas to eliminate internal crises between the region and the center and the development of the geographical boundaries of all the provinces and regions of oil-producing member of the Oil and Energy Committee MP Furat Mohsen al-Shara said during his speech for the (citizen) that «the absence of oil and gas law will negatively impact all the merits of political and economic relations between the province and the center.

(more…)

30-06-2013 09:00 AM

Executive Director announced to the Iraqi market for securities Taha Ahmed Abdulsalam signing of an agreement with Nasdaq OMX »American information technology to transform the e-trading system to the middle of next year.

That «the signing of the agreement obtained after studies and negotiations continued for months, and after analyzing the technical specifications through design study discussed by the Board of Governors and management of the market with the Securities Commission and its member brokerage firms in the Iraqi market for securities. (more…)

Tuesday, 04 June 2013 12:17 | | |

Baghdad (AIN) -Deputy chief of the parliament Oil & Energy Committee, Ali al-Fayadh, called to expedite ratification of the Oil & Gas Law before the end of the current parliament term.

The Oil & Gas law is one of the pending issues especially between the central government and Kurdistan Regional government where this law regulates the running of the oil resources and administration of its revenues and the contracting with foreign companies. (more…)

11/05/2013 12:00 AM

The Chairman of the Securities Commission to the importance of turning the family business into joint-stock companies and the creation of an entity larger able to compete and diversify the productive base and make alliances strategy and achieve competitive advantage of economy of scale and thus reduce costs. (more…)

Economic parliamentary calls to speed up amending the investment law and prepared a reason for “increased unemployment and poverty”
SATURDAY, MAY 11 / MAY 2013 13:46

Commission criticized the parliamentary economy and investment, Saturday, delayed modify the Iraqi investment law, and promised to “hang” for investment operations and “reason” to increase rates “of unemployment and poverty” in the country. (more…)

10:58 04/21/2013

Agencies – called a member of the Committee on the economy and investment MP for the coalition in Iraq Qusay F, the need to grant privileges for high local and investor preference for foreign encouraged to invest in the country.

Gomaa said in a press statement that “the Iraqi investors preferred to invest outside the country despite the availability of economic fundamentals within the country, but due to some constraints that displays his work in Iraq make it migrates to other countries and invest significant funds. (more…)

04/14/2013 – 12:29

The Ministry of Planning and Development Cooperation, Sunday, for the stability of the base inflation rate of 143.0% for the month of March, as indicated to rise annually by 3.2% compared to the base annual inflation for the month of February of the year 2012.

He said ministry spokesman Abdul Zahra al-Hindawi said in an interview for “Alsumaria News”, “inflation basis for the month of March last year witnessed stable rate of 143.0% compared to last February, while increased annually by 3.2% compared to inflation annual basis for the month of March of 2012.” (more…)

To the Committee on Energy: Oil and Gas Law is no intention to move it

09/04/2013

BAGHDAD / JD / .. revealed to the Commission on oil and energy in the House of Representatives that the law of oil and gas is turned off so far and there is no any intention to move it. (more…)

03-04-2013 11:37 AM

Baghdad (newsletter). Confirmed the decision of the Commission on economy and investment Deputy/Kurdistan blocs Coalition/mehma Khalil, the importance of the use of international organizations and developed countries industrial and investment worldwide in amending the Investment Act No. 13 of 2006.

He said Khalil (News Agency): the revised investment law No. (13) of the year (2006) contains a large legal gaps discourages investment, particularly with regard to the expropriation of land and how to deal with the relevant government institutions. (more…)