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  1. Guests of the IBBC’s Annual Cumberland Lodge Retreat The Iraq Britain Business Council brings together business, trade and investment, for the benefit of the Republic of Iraq and its members. It is a powerful network of some of the most important global corporations as well as key Iraqi and British companies and trade chambers and enjoys the highest-level of support from governments and the European Union. Committed to a free, prosperous and diverse Iraq, IBBC has created extremely strong relationships to benefit business, industry and the people of Iraq. IBBC is fully supported in its goals by the Iraqi Government, and its National Investment Commission. IBBC is more than a business initiator. It promotes best practice and international standards as well as transferring technology and know-how. IBBC, funded privately by its members, operates through independent secretariats in London, Baghdad, Basrah and Erbil. In addition to frequent Founder Members’ Board, bi-monthly Business Council, and Sector Table meetings, yearly IBBC Events include: 2 major conferences in London. 3 major conferences in Iraq. An annual weekend retreat is held in locations including Cumberland Lodge in Windsor or Wilton Park, West Sussex, where invited speakers add to a discussion about a topic of relevance. Round-table dinners and receptions – up to eight a year – are held at venues including the House of Lords and London’s Reform Club. Occasional seminars and study groups on subjects of high value – such as the fight against corruption and the impact of the Bribery Act. Frequent trade delegations are arranged, varying in location between Baghdad, Basrah and Erbil. The IBBC attends and supports events organised by member companies including conferences from which reports are compiled and circulated. The IBBC also frequently receives high level Iraqi delegations including senior ministers and officials. In addition the IBBC regularly meets and is involved in round table discussions with UK Government ministries and bodies including the Foreign and Commonwealth Office, UKTI, UK Border Agency and Export Credit Finance. Our work also includes taking up specific issues on behalf of member companies with senior British and Iraqi officials.
  2. i find it hard to believe the misprint theory dollar/dinar....more likely deliberate....time will tell...hope i'm right!
  3. Hate to be a downer...but found this... see highlighted text in red.. The Iraqi economy is facing severe and pressing challenges. The decline in oil prices in 2015 and 2016 and the ISIS insurgency have contributed to a sharp deterioration of economic activity and have rapidly increased the fiscal and current account deficits. Macroeconomic risks remain elevated due to Iraq’s continued exposure to a volatile oil market, but the medium-term outlook seems more favorable, thanks to an expected increase in oil prices in 2017 and important gains against ISIS. The government is facing the challenge of maintaining macroeconomic stability, undertaking structural reforms to improve the delivery of public services, reconstructing core physical infrastructure in the areas liberated from ISIS and assisting the 3.4 million people displaced by the conflict. The double shock has severely dented growth, diverted resources away from productive investment, and increased poverty, vulnerability and unemployment. Private consumption and investment remain subdued due to an unstable security and political situation and a poor business environment. The non-oil economy contracted by almost 14 percent in 2015 following a 5 percent fall in 2014. After slowing at 0.1 percent in 2014, Iraq’s economy grew by 2.9 percent in 2015 on the back of about 19 percent increase in oil production, as the vast majority of Iraq's oil fields are beyond ISIS’s reach. Growth in 2016 is expected to further increase to 4.8 percent, sustained by an increase in oil production, but non-oil GDP is expected to contract by 8.2 percent, due to low demand driven by continued fiscal consolidation. Inflation rate is expected to remain low at 2 percent in 2016, with the government subsidizing electricity, food and fuel, but is likely underestimated in ISIS-occupied areas. The shocks have also deteriorated the country's fiscal and external balances in 2015 and 2016. Low oil prices have sharply reduced oil revenues, which decreased by about US$35 billion in 2015 compared to 2014. Despite the government efforts to prioritize expenditure, low oil revenue coupled with high humanitarian and security spending have rapidly widened the budget deficit which reached 13.5 percent of GDP in 2015 and the current account deficits which has turned into a deficit of 6.1 percent of GDP in 2015 form a surplus of 2.7 percent of GDP in 2014. Due to persistent low oil export prices in 2016 (which are expected to average $ 35.5 a barrel, $10 lower than in 2015), the fiscal deficit is estimated at 12 percent of GDP in 2016. Weakness of oil exports and large import needs also to maintain develop oil infrastructure would further widen the current account deficit to 11 percent of GDP in 2016. Given Iraq’s severe challenges and substantial financing needs, the IMF approved a three year Stand-By Arrangement in July 2016 for US$5.34 billion. In parallel, the World Bank has started a series of three DPFs to span over three years, the first (USD1.2 billion) delivered in December 2015, the other two (1 billion USD each) planned for December 2016 and December 2017. On July 20, 2016, a donor conference co-hosted by the US Government pledged a total of US$2.1 billion for 2016-2018, with the aim of securing financial support for Iraq’s humanitarian crisis. The resumption of the production sharing agreement between the federal government and the Kurdistan Regional Government (KRG) in August 2016 will help KRG address its growing fiscal crisis. Iraq continues to face severe security challenges. As a result of the ongoing conflict, the death toll continues unabated, with casualties reaching 20,169 in 2014―the most since 2006 and 2007 when the violence killed an average of 27,744 Iraqis―17,502 in 2015 and 10,497 since the beginning of 2016. The widespread insecurity since 2014 has also led to major humanitarian crisis with 10 million people in need and over 3.4 million persons internally displaced. The population remains extremely vulnerable to the ongoing security problems and reduction in oil prices. The standard of living has deteriorated and a noticeable share of the population has fallen into poverty or is extremely vulnerable to falling into poverty. Poverty, as estimated by the Iraqi government reached 22.5 percent in 2014 nationwide; and in the ISIS-affected governorates, the direct impact of economic, social and security disruptions are estimated to have doubled poverty rates to 41.2 percent. Iraq has one of the lowest employment-to-population ratios in the region, even among men, and the 2014 crisis has led to an estimated reduction in employment by 800,000 people. The Public Distribution System provides the only safety net for the vast majority of the poor, and is currently stretched to its limits. Many IDPs received a one-time cash grant of ID 1 million per month in 2015, but the 2.8 million new poor are left largely uncovered by any public safety net. However, Iraq in April 2016 launched a new poverty targeting program aimed at reforming the social security network toward improving its targeting efficiency. Last Updated: Oct 01, 2016 Source...
  4. Laid back.... Found this on Ebay.... Mouse over image to zoom Have one to sell? Sell it yourself Details about 50000 New Iraqi Dinars 2015 with New Security Features - IRAQ DINAR UNC 50 000
  5. good to hear your opinion tigergorzow - i concur.
  6. and the British one pound can see the queens head on it easily!!
  7. This Time Mideast Tensions Are Bad News for Oil At almost any other time, an escalating diplomatic conflict between OPEC members Iran and Saudi Arabia would mean a spike in oil prices. That the rally this time couldn’t be sustained shows just how abnormal things are in the oil market. Brent crude is little changed this week as a global supply glut and the slowest Chinese growth in a generation trumped mounting strife between the nations on either side of the world’s busiest waterway for oil tankers. “When oil supplies were tight, we’ve seen bigger reactions to geopolitical tensions,” Tushar Tarun Bansal, a senior oil analyst in Singapore at industry consultant FGE, said by phone Monday. “Now the price rise has actually been quite muted because the world is in a surplus situation.” There was little more than a blip in crude futures when Saudi Arabia severed diplomatic ties with Iran, as investors focused instead on record stockpiles and rising supply. As Kuwait and the United Arab Emirates lined up to support Riyadh, the internal divisions that prevented the Organization of Petroleum Exporting Countries from making production cuts even as prices plunged to an 11-year low appeared more entrenched than ever. Awash in OilSaudi Arabia gave Iran’s ambassador 48 hours to leave after protesters set its embassy in Tehran on fire following the execution of Saudi cleric Nimr al-Nimr, a critic of the kingdom’s treatment of its Shiite minority. It was the worst clash between the nations since the 1980s, adding to proxy wars they were already fighting from Syria to Yemen in a quest to gain influence in the Middle East. The impact of the tensions is limited because the oil market remains oversupplied, Macquarie Group Ltd. analysts including Vikas Dwivedi said in a note. The events “may severely limit the possibility of peace in surrounding countries, but do not directly threaten crude oil production,” the bank said. The world is awash in oil after OPEC members led by Saudi Arabia committed to a strategy of increasing market share by pressuring high-cost producers, rather than cutting output to support prices. This policy has resulted in record oil inventory levels that will probably keep growing for most of the year, the International Energy Agency said last month. This provides a cushion against any unexpected turmoil. Eastern ProvinceBrent, the global benchmark, dropped 0.2 percent on Monday, erasing a gain of as much as 4.6 percent. Futures for February settlement fell another 0.2 percent to $37.16 a barrel at 11:47 a.m. on the London-based ICE Futures Europe exchange Tuesday. Should violence break out in the Eastern province of Saudi Arabia, home to most of its Shiite community and its richest oil fields, the impact on prices could be more significant, according to Alexandre Andlauer, an oil analyst at AlphaValue SAS in Paris. “The Saudis will move quickly to quash any violence, but the question will be whether they can keep any protests from flaring out of control,” Andlauer said Monday. OPEC DivideThe dispute entrenches the biggest bearish factor in the oil market in the past year -- OPEC’s decision to keep pumping amid falling prices. Saudi Arabia and Iran are the largest and fifth-biggest producers in OPEC, respectively. Their worsening relations make it even less likely the group could overcome internal differences and agree to an oil-output cut to boost prices, Macquarie said. Last month, OPEC effectively abandoned any limits on output and boosted production, according to a Bloomberg survey. The group would need to reach a consensus before making any change of policy that could reduce the glut. While Iran is set to boost to oil production as sanctions on its nuclear program are lifted this year, it has called on other OPEC members to cut output. This is opposed by Saudi Arabia and its Gulf allies. The U.A.E. reduced its representation to Iran, while Kuwait said it backed “all measures adopted by Saudi Arabia to maintain its security and stability,” according to an unnamed Foreign Ministry official cited by the KUNA news agency. “When you see an escalation of this sort -- which is sectarian in nature and involves the broader OPEC group -- it just makes things even more difficult,” Virendra Chauhan, a Singapore-based oil analyst at consultant Energy Aspects Ltd., said by phone. The organization is now “less likely to come to some kind of broader output cut,” he said.
  8. Turkey may finally be 'accepting the inevitable' in Syria A Kurdish militia with ties to an organization waging an insurgency in Turkey's southeast region violated Turkey's "red line" in Syria over the weekend by crossing the Euphrates River during an anti-ISIS operation. The operation to take back Tishrin Dam from ISIS was staged by the Western-backed Syrian Democratic Forces and spearheaded by the Kurdish YPG — the military arm of the Kurdish Democratic Union Party (PYD). It served as a huge blow to ISIS, which had relied on the dam to move weapons and fighters between its de-facto capital of Raqqa in Syria and the cities of Manbij and Jarablous it controls in the northern countryside of Aleppo Province. But ISIS was not the only loser. The operation was also a major affront to Turkey, which declared the Euphrates a "red line" for Kurdish territorial expansion over the summer. Indeed, Turkey struck the YPG twice in October after it defied Ankara's warning not to cross the river. So far, however, the Turks' response to the weekend incident has been relatively muted. When asked for his reaction to the Tishrin operation, Turkish Prime Minister Ahmet Davutoglu said in a news conference in Serbia that Turkey "would not look positively on Syrian forces hostile to Ankara moving to the west of the Euphrates," according to a translation by Reuters. He added, however, that available information indicated that it was Arab forces, and not Kurds, who had crossed the Euphrates over the weekend. This appears to be a half-truth. A small percentage of the SDF — roughly 4,000 of about 55,000 fighters — is made up of Arab groups operating as part of the SDF alliance under the joint name of the Syrian Arab Coalition. But the vast majority of SDF soldiers are more experienced fighters from the Kurdish YPG. Aykan Erdemir, a nonresident senior fellow at the Foundation for Defense of Democracies and former member of Turkish Parliament, said he thinks Davutoglu's subdued response to the operation was his way of "accepting the inevitable." REUTERS/Rodi SaidA fighter from the Democratic Forces of Syria takes an overwatch position at the top of Mount Annan. "A harsher response on Davutoglu's part would have been an admission of failure to guard his 'red line,'" Erdemir told Business Insider on Tuesday. "By portraying the event as crossing of the Euphrates River by Arab forces, he is attempting to reframe the embarrassing developments to make them appear less damaging." Davutoglu, along with Turkish President Recep Tayyip Erdogan, harbor the fear that any movement west of the river might allow the Kurds to link their self-declared cantons, or territories, in northern Syria and create an autonomous Kurdish state along the Turkish border. Indeed, the capture of Tishrin is "a huge first step for the Kurds in clearing out the remaining border strip controlled by IS along the Turkish border," Wladimir van Wilgenburg, a Kurdish affairs expert embedded in Iraqi Kurdistan, told Business Insider on Tuesday, referring to an alternate acronym for ISIS. "The Turks were opposed to this," he added, "and it was my understanding that the US understood Turkish concerns and therefore also opposed YPG advances." But the SDF operation, spearheaded by the Kurds, was reportedly aided by several US airstrikes west of the Euphrates near Manbij. REUTERS/Rodi SaidA Kurdish female fighter from the People's Protection Units (YPG). Merve Tahiroglu, a research associate focusing on Turkey at the Foundation for Defense of Democracies, said Davutoglu's comments "are an example of how Turkey is able to maintain its 'red line' without appearing to completely impede the anti-ISIS coalition’s efforts along its border." Tahiroglu added: One worry in Ankara since the diplomatic crisis with Moscow last month has been Russian support for the [Kurdish] PYD and, in particular, a possible PYD movement toward the west of the Euphrates with Russian encouragement and air support. Turkey has suffered a near-total defeat of its Syria policy since Russia entered the war on the side of the regime in September. Russia's bombing campaign in the north, which escalated in the wake of Turkey's downing of a Russian warplane last month, has set the stage for the Kurds to continue advancing westward toward the strategically important city of Azaz. That goal is even more attainable now that the YPG has crossed the Euphrates — with minimal condemnation from Turkey. Turkey had been using Azaz as a corridor to funnel weapons and aid to the rebels it supports in Aleppo, but Russia's entry into the fray has dramatically limited Ankara's ability to change facts on the ground. That is perhaps one major reason why Davutoglu has tried so hard to reframe the Kurdish victory as an Arab one. "Davutoglu is aware that he has very limited options to unilaterally intervene in the Syrian scene to back his 'red line,' so he is avoiding bold statements he can't back with action," said Erdemir, the former Turkish Parliament member. Still, Tahiroglu said, because the Tishrin operation was supported by the US and not Russia, it was not a complete "nightmare scenario" for Turkey. "But the question now," she added, "is who in the SDF will come to control this liberated land: the Arabs or the Kurds?"
  9. Maliki among 10 richest people in world Date: 2015/03/03 - 7:17 PM 2348 Views Waar, Duok: Former Iraqi Prime Minister Nouri al-Maliki’s wealth is estimated at $50 billion, the US magazine Forbes said. The magazine has published the list of world’s ten wealthiest men in the world in 2015 with Maliki occupying the fifth place. Meanwhile, former head of council of representatives Osama al-Nujaifi reserved the 10th place with $44 billion followed by Ayad Alawi who owns $35 billion. Microsoft’s founder Bill Gates still tops the list with $76 billion, while Mexican businessman Carlos Slim comes second owning $72 billion followed by Warren Buffett with a net worth of $72.7 billion. In fourth place was Amancio Ortega.
  10. Sir Timothy John Berners-Lee OM KBE FRS FREng FRSA FBCS (born 8 June 1955),[1] also known as TimBL, is an English computer scientist, best known as the inventor of the World Wide Web.
  11. Not only a 1.2 billion dollar loan from the WB but also a whopping 15.4 billion dollars, six month loan from China.
  12. they had a secret ballet and only 18 members voted against the kurds getting the 17%, so most of SOL voted for it!!
  13. Trump stripped of his role as a Scottish business ambassador by Nicola Sturgeon after she says 'obnoxious and offensive' presidential candidate is 'no longer fit' for the post By Mark Duell for MailOnline Published: 03:17, 10 December 2015 | Updated: 10:03, 10 December 2015 Donald Trump has been stripped of his status as a business ambassador for Scotland after he called for Muslims to be barred from entering the US. First Minister Nicola Sturgeon withdrew the Republican presidential candidate’s membership of the GlobalScot business network yesterday after he sparked outrage with his comments. The Scottish Government said his remarks ‘have shown that he is no longer fit to be a business ambassador for Scotland’ and that his membership had been ‘withdrawn with immediate effect’. Scottish links: Former first minister Alex Salmond (left) poses with Donald Trump (right) at a fashion show in New York in April 2006. Mr Trump has been stripped of his status as a business ambassador for Scotland Republican presidential candidate: Mr Trump with another former Scottish first minister, Jack McConnell, at Trump Tower in New York in October 2005. He had been a member of the GlobalScot network since 2006 Mr Trump had been a member since being invited to join in 2006. Scottish Enterprise set up the network of business leaders, entrepreneurs and executives with a connection to Scotland in 2001. Miss Sturgeon, 45, previously described 69-year-old Mr Trump's comments as ‘obnoxious and offensive’ and said they ‘do not represent the mainstream views of people across America’. Mr Trump, whose mother was a Scottish immigrant from the Isle of Lewis, owns a luxury golf resort in Aberdeenshire but has courted controversy by trying to block wind farms being built in view of it. Also yesterday, Mr Trump was stripped of his honorary doctorate of business administration from Robert Gordon University in Aberdeen - five years after being awarded it in October 2010. Making the decision: First Minister Nicola Sturgeon (left) withdrew Mr Trump's membership of GlobalScot. Mr Trump is pictured (right) receiving an honorary degree from Robert Gordon University in Aberdeen Acting: Mr Trump has now been stripped of his honorary doctorate of business administration from Robert Gordon University (pictured) in Aberdeen, five years after he was awarded it in October 2010 A spokesman for the university said: ‘In 2010, Robert Gordon University awarded an honorary DBA to Mr Donald Trump in recognition of his achievements as an entrepreneur and businessman. CONDEMNATION OF TRUMP IN UK More than 360,000 people have backed a petition on the Parliament website for Mr Trump to be banned from the UK as British politicians condemned his remarks. The property tycoon provoked widespread anger and ridicule after demanding a block on Muslims entering the US and claiming parts of London were ‘so radicalised’ that police were ‘afraid for their own lives’. Downing Street has made clear that David Cameron sees the comments as ‘divisive, unhelpful and quite simply wrong’. Chancellor George Osborne branded them ‘nonsense’, but dismissed calls for him to be excluded from the UK, saying his views should instead be challenged in debate. And London Mayor Boris Johnson said the remarks made Mr Trump unfit for office. ‘In the course of the current US election campaign, Mr Trump has made a number of statements that are wholly incompatible with the ethos and values of the university. ‘The university has therefore decided to revoke its award of the honorary degree.’ More than 70,000 people signed a petition calling for Mr Trump's degree to be revoked after his comments sparked outrage. The online petition was set up by Suzanne Kelly, a freelance investigative journalist and satirist based in Aberdeen, on campaigning website 38 Degrees. It states: ‘We feel that Donald Trump's unrepentant, persistent verbal attacks on various groups of people based on nationality, religion, race and physical abilities are a huge detriment to RGU. ‘Hate speech must not have a place in academia, in politics or on the world stage.’ The award was made before the appointment of the university’s current principal Professor Ferdinand von Prondzynski. Read more: Follow us: @MailOnline on Twitter | DailyMail on Facebook
  14. Putin's getting pissed off!
  15. There is speculation that Turkey’s military presence on Iraqi soil is to protect Turkey’s oil interests. The Barzani family, which heads the Kurdistan Regional Government, is running the oil business, while the Erdogan family handles the Turkish end (government and oil). President Erdogan’s son-in-law is the energy minister, while Erdogan’s son, Bilal, has the exclusive right to transport oil from Iraqi Kurdistan (and ISIS) through Turkey. Barzani’s 632,000 b/d oil operation depends heavily on a pipeline that runs from Iraq to Ceyhan (the Turkish port where Bilal Erdogan’s ships are based). However, over the summer the PKK attacked the pipeline, costing the KRG some $250 million in lost revenue.

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