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The Most Powerful Currency In The World - Mahmoud al-Falahi !


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3 hours ago, NEPatriotsFan1 said:

Is this the same as the “s” word? Cuz if so..... me no likey the article

Yeeeah it even says so in the heading so it's probably so.. 😉 Either way, these days... with this TREMENDOUS news I actually enjoy hearing it a little bit. I dare not say it, but YES it's easier to accept these days. 😂😂

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CNN. Broadcasting From The CBI While Trying To Find Where They Put The Old Steroids !     The most powerful currency in the world - Mahmoud al-Falahi July 2, 2018

I think Is a misprint........ Is not $47........ I believe is $4.7   At $4.7 dollar per dinar they can get all my dinars   Go former glory  

Great read, I am still happy with a .10.

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7 hours ago, DinarThug said:

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Rafidain Bank and KI partnership to provide global services soon

Rafidain Bank and KI partnership to provide global services soon
 
2018/7/8 13:47
 
Kay's media advisor, Ghazi Kanani, confirmed the development of new products as a result of the adoption of new technologies that contribute to increasing the internal efficiency of the work machines between the company and Rafidain Bank and allow customers to provide services in a flexible and simplified way to make people's lives easier.

Al-Kanani told all Iraq [where] that "the continuous pursuit between the cadres of the Rafidain Bank and the company to make the partnership successful resulted in acceptable results in the Iraqi street and touch the wishes of citizens, where continues to provide loans to various segments of society benefiting from electronic payment services through [K]." 

He pointed out that "the specialized teams at both ends of the process Rafidain Bank and [K] continue to study different candidates and choose the best serving the Iraqi family, indicating that the coming period will see the provision of services at a global level to all segments of the beneficiary."  "The new services shorten the time and effort and reach the beneficiary without bother, and this is an advanced step towards global service delivery," Kanani said.

The last period witnessed the launch of Takatof initiative in partnership between Rafidain Bank, [K], the General Post and Savings Company and the General Retirement Authority, in order to deliver electronic services to all regions of Iraq.

Awesome.....of course this is what they gonna do.. international.. wow 

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High rate of revenues from the export of crude oil in the first half of 2018


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9th July, 2018


Oil Minister Jabbar Ali al-Allaibi said on Monday that the ministry has achieved a remarkable increase in the rate of exports and revenues from crude oil sales for the first half of this year 2018 compared to the first half of last year 2017

Al-Allaibi said in a statement received by "Economy News", "The total revenues achieved for the first half of this year 2018 amounted to (40) billion and (345) million and (235) thousand dollars (forty billion, three hundred and fifty-five million and two hundred and thirty-five thousand dollars) While the revenues achieved for the first half of last year 2017 (27) billion and (642) million and (329) thousand dollars (twenty seven billion six hundred and forty-two million and three hundred and twenty-nine thousand dollars).

He added that "the total exports achieved for the first half of the current year 2018 also recorded an increase in their rates was (625) million and (193) thousand and (749) barrels (six hundred and twenty-five million and one hundred and ninety-three thousand seven hundred and forty-nine barrels) In the year 2017 last (592) million and (439) thousand and (163) barrels (five hundred ninety-two million and four hundred and thirty-nine thousand and one hundred and sixty-three barrels). " 

He pointed out that "the average selling price for the month of June 2018 has witnessed a rise compared to the month of June of last 2017, which amounted to (69,322) dollars per barrel, while the selling rate for 2017 (42,067) dollars a barrel," adding that " Of the percentage deficit in the federal budget for this year."

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ECONOMIC GROWTH DRIVEN BY OIL & GAS AND NON-OIL INDUSTRIES ATTRACT INVESTMENT BLOOM IN IRAQ, SAYS FROST & SULLIVAN


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9th July, 2018
 

The government of Iraq is committed to implementing a stable macroeconomic framework driven by significant growth potential in the oil and gas sector as well as non-oil industries. 

A potential leader in emerging markets, Iraq offers unlimited investment opportunities and requires over USD 30 billion of foreign direct investment (FDI) per annum.

After three years under combat operations, the end of Iraq’s war against the Islamic State (ISIS) encourages the country’s reconstruction and economic reformation. 

As a result of healthy foreign international reserves, limited restrictions on cross-border fund transfers as well as an attractive legal framework that provides greater protection and incentives for foreign investorsinvestments in the country is expected to generate the highest rate of returns.

In 2018, governments from over 76 countries, global funds, organisations and investors pledged USD 30 billion in loans and investment to rebuild Iraq.

For more information on Frost & Sullivan’s recent study – Iraq’s Untapped Opportunities; Path to Investment Boom and to access the info graphics, click here.

Apart from FDI, primary opportunity areas for global companies also include technology upgrades and manufacturing process improvement across all industries. Most industries operate on obsolete or old technologies as wars and earlier sanctions prevented access to latest technologies. Therefore, Iraqi companies seek to partner with global companies to benefit from their best practices in manufacturing processes.

“As a national development plan, Iraq aims to boost the economy through privatisation and development of oil & gas as well as minerals along the value chain. The plan is to not only privatise existing state-owned enterprises but also support SMEs with tax holidays and financial incentives. All in all, FDI inflow is expected to help the Iraqi Government to achieve the target within the next five years,” said Mr. Ali Mirmohammad, Senior Consultant & Business Development Manager at Frost & Sullivan.

Mineral Oil, Natural Gas and Phosphate Deposits are among the top natural resources in Iraq that call for huge investment opportunities along the value chain. 

Huge volumes of mineral reserves remain untapped. This provides enormous opportunities for excavation and extraction of minerals.

Opportunities are thus significant for mineral extraction companies, equipment suppliers as well as downstream investors.

Lucrative prospects are likely present for private investors, especially in the sectors that are currently in dire need of re-building and development such as banking, minerals, renewable energies, telecommunications, landfills, e-Commerce, recycling, water and sanitation, food and tourism.

“Enabled by the prospect of greater stability and security, Iraq has listed a total of over 212 projects ready for investment across more than 10 sectors. Of these sectors, oil and refineries is the most promising sector for investors followed by industrial and manufacturing, infrastructure, health and education, energy and agriculture sector,” added Mirmohammad.

To attract foreign investors, the Iraqi Government has offered a list of guarantees and privileges including tax holidays for 10 years (extendable to 15 years in some cases), the right of ownership and protection against seizure or nationalisation of the investment project, the right to deal on the Iraq Stock Exchange (ISX), rent or lease lands needed for the project for the term of the investment project, the right to repatriate the capital brought into Iraq and many more.

With a population of nearly 40 million, Iraq is also emerging as one of top consumer markets in the Middle East that primarily depends on imports. Frost & Sullivan’s recent study, Iraq’s Untapped Opportunities; Path to Investment Boom, highlights the growth potential in the following markets from 2018 to 2022 – Grains, Food & Beverages (8-10% CAGR), Pharmaceuticals (10-12% CAGR), Beauty and Personal Care (8-10% CAGR), Furniture and Homewares (5-6% CAGR), Footwear, Textile and Apparel (5-6% CAGR), Medical Devices (18-20% CAGR), Consumer Electronics (7-8% CAGR) and Plastic Products (9-10% CAGR).

Iraq plans to focus on the Oil & Gas value chain, downstream value chain, Minerals value chain, and tourism and financial services to move the GDP growth rate by 6% annually in the next 8 years. Hence, with a population of over 39 million people as of 2018, Iraq remains an attractive consumer market with potential of over USD 40 billion.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success.

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Rising oil prices amid tight supply in the market

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9th July, 2018


Oil prices rose on Monday, with investors focused on the scarcity of supply in the market after data released late last week showing US crude stocks fell to their lowest levels in more than three years. 

Brent crude <LCOc1> was up 49 cents, or 0.6 percent, at $ 77.60 a barrel by 0635 GMT. US crude futures were up 34 cents, or 0.5 percent, at $ 74.14 a barrel. 

Crude stocks at the point of delivery of US futures contracts in Cushing, Oklahoma, fell to a three-and-a-half-year low, official data showed on Thursday. The data were published one day after its normal date due to a public holiday on July 4.
"Investors are also focusing on how much Saudi Arabia and other Gulf countries will increase," said Ferndra Chuhan, an analyst at Energy Aspects in Singapore. 

Last month, the Organization of the Petroleum Exporting Countries (OPEC) and some producers from outside agreed to a limited increase in production to curb the rise in oil prices, which recently reached their highest level in three and a half years.  The increase in supply would offset the impact of some of the production cuts implemented by OPEC and other major producers in early 2017 to put an end to the years-long flood.

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Iraq's Foreign Currency Reserves Rise

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9th July, 2018   


The Central Bank of Iraq announced that foreign currency reserves rose during the month of June to 55.7 billion dollars. 

A source at the Central Bank of Iraq, the central bank reserves rose in June to 55.7 billion dollars, adding that the rise in foreign exchange reserves, due to successful management. 

The source pointed out that Iraq, one of the countries that fully secured their reserves of foreign currency to cover demand by more than 100 percent of the dollar.

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46 minutes ago, DinarThug said:

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Expert: Iraq will reject an Iranian request to use local currencies instead of the dollar in trade


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9th July, 2018

 

Iraq's approval of any Iranian request to replace trade between the two countries in local currency instead of the US dollar has been ruled out by economic expert Majid al-Suri, while he pointed out that such an agreement would not be in favor of Iraq

"Iraq can not apply trade with Iran in local currencies because the trade balance will be in favor of Iran and most of the trade is for its benefit," he told Iraq News

He added that "the implementation of this agreement will work to store the Iraqi currency within Iran, which is not in the interest of Iraq, pointing out that" such a decision is not only the competence of the Central Bank of Iraq, but the power of the Government of the Ministry of Finance in consultation with the Central Bank of Iraq and do not expect the bank The Central Bank of Iraq on such a matter. "

"A number of countries, including India, Russia, China, Brazil and South Africa, are trying to reduce the dollar's control over international trade and the trade war between China and the United States has resulted," he said

The governor of the Central Bank of Iran and Crown Prince Ali Abdullah Saif announced on Sunday the follow-up of the bank to conclude monetary agreements with Iraq, Russia and Azerbaijan to deal with national currencies

 

 

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Expert: Iraq will reject an Iranian request to use local currencies instead of the dollar in trade


irq_1501751300_1531121868.jpg&max_width=300

 

9th July, 2018

 

Iraq's approval of any Iranian request to replace trade between the two countries in local currency instead of the US dollar has been ruled out by economic expert Majid al-Suri, while he pointed out that such an agreement would not be in favor of Iraq

"Iraq can not apply trade with Iran in local currencies because the trade balance will be in favor of Iran and most of the trade is for its benefit," he told Iraq News

He added that "the implementation of this agreement will work to store the Iraqi currency within Iran, which is not in the interest of Iraq, pointing out that" such a decision is not only the competence of the Central Bank of Iraq, but the power of the Government of the Ministry of Finance in consultation with the Central Bank of Iraq and do not expect the bank The Central Bank of Iraq on such a matter. "

"A number of countries, including India, Russia, China, Brazil and South Africa, are trying to reduce the dollar's control over international trade and the trade war between China and the United States has resulted," he said

The governor of the Central Bank of Iran and Crown Prince Ali Abdullah Saif announced on Sunday the follow-up of the bank to conclude monetary agreements with Iraq, Russia and Azerbaijan to deal with national currencies

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