Iraqi Dinar News

Trade Iraqi Dinar

Posts tagged: Iraq

Iraq is still an important focus in the policy of the United States

By , April 17, 2014 4:28 am


http://theiraqijournal.com/iraq-is-still-an-important-focus-in-the-policy-of-the-united-states/

Please any Questions: send to breitlingcurrency@gmail.com I will get to your questions as soon as possible by personal e-mail, blog post or audio “If you Knew you could not fail, what would you try today?” Philippians 4:13

Iraq Buys $1.56 Bln of Gold, Biggest Purchase in 3 Years

By , April 16, 2014 5:04 pm

http://theiraqijournal.com/iraq-buys-1-56-bln-of-gold-biggest-purchase-in-3-years/

Please any Questions: send to breitlingcurrency@gmail.com I will get to your questions as soon as possible by personal e-mail, blog post or audio “If you Knew you could not fail, what would you try today?” Philippians 4:13

Chaldean Prelate, in Easter Message, Asks Peaceful Future for Iraq

By , April 16, 2014 4:26 pm

Chaldean Prelate, in Easter Message, Asks Peaceful Future for Iraq

Posted 2014-04-16 22:16 GMT

Baghdad — “I hope that the Easter celebrations, Easter of Resurrection and new life, put an end to the suffering of our people”. This is the hope expressed in the Easter message issued by the Patriarch of Babylon of the Chaldeans, Louis Raphael Sako. “Despite the worrying situation in Iraq”, says the Chaldean Patriarch in the message sent to Fides Agency, the celebrations of Holy Week “keep alive our Christian memory and give us a living hope. Jesus is the heart of these events, his body destroyed and then resurrected is the force that drives us to new life. Even in the darkest hours, his resurrection rises like the sun on us and on mankind”.

His Beatitude Sako invites everyone to “meet in our churches and homes to celebrate, pray, give thanks, rejoice together and help one another” and to be for everyone, in every situation, “a living example in community life through our behavior, loyalty, our renunciation and our love”. With this spirit – said the Patriarch – “no one is in a position to feel threatened”.

The Easter message also offers the Head of the Chaldean Church an opportunity to highlight the importance of the forthcoming elections in a country still torn by sectarian violence: “We need to participate in the upcoming vote in large numbers, with a spirit of responsibility”, writes Patriarch Sako, suggesting to choose “qualified and loyal people, who are committed to the good of the country and for its progress, focusing on the true values of freedom, dignity and social justice”. The national elections, scheduled for April 30, will have to select the 325 members of parliament (with 5 seats reserved for Christians), called in turn to elect the President and the Prime Minister of Iraq, in compliance with the system which reserves the presidential office to a Kurd and that of Prime Minister to a Shiite.

Assyrian International News Agency

Kurdish President: Totalitarian Political Culture Fragmenting Iraq

By , April 15, 2014 6:13 am

[unable to retrieve full-text content]Iraq’s Prime Minister Nouri al-Maliki (R) walks with the President of Iraqi Kurdistan Massoud Barzani (2nd L) at the airport during his visit to Erbil, 310 kilometers (190 miles) north of Baghdad, May 31, 2010 (photo by REUTERS/Iraqi government).
Assyrian International News Agency

Iraq Stock Market Report

By , April 15, 2014 6:03 am

Iraq Stock Market Report

Advertising Feature

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th April 2014).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at ID1,823 (+0.1%)/ $ 1,943 (+0.1%) (weekly change). The number of week traded shares was 14.4bn and the weekly trading volume was ID20.6bn ($ 16.9mn).

ScreenHunter_491 Apr. 15 02.24

ISX Company Announcements

  • Al-Mansour Pharma. Ind. (IMAP) will hold its AGM* on May 17 to discuss 2013 annual financial results and distributing cash dividend. ISX will suspend trading of IMAP starting May 11.
  • Baghdad Passengers Transport (SBPT) will resume trading on Apr. 13, 2014 after increasing its capital from IQD200mn to IQD500mn through 150% bonus issue. The opening price will be IQD33.2 per share with +/- 50% limit for the first session.
  • Original shares of Union Bank (BUOI) resumed trading on Apr. 10, 2014 after they discussed and approved 2013 financial results and increasing its capital from IQD152bn to IQD252bn through 36.2% bonus and 29.6% rights issues.
  • AL-Nukhba for Construction (SNUC) will hold its AGM* on Apr. 17, 2014 to discuss 2012 annual financial results, distributing cash dividend, electing new board members and amending the article of incorporation by adding real-estate investment acitivities. ISX suspended trading of SNUC starting on Apr. 10, 2014.
  • A cross transaction occurred on IQD8.7bn National Bank of Iraq (BNOI) shares on April 8, 2014. This represents 3.5% of BNOI capital.
  • A cross transaction occurred on IQD25mn Al-Sadeer Hotel (HSAD) shares on April 8, 2014. This represents 2.0% of HSAD capital.
  • A cross transaction occurred on IQD1.83bn Kurdistan Int. Bank (BKUI) shares on April 7, 2014. This represents 0.6% of BKUI capital.
  • In a press conference on Apr. 3, 2014 CBI announced that the bank’s reserves of pure gold reached 90 tons after it bought 60 tons in the last two months in the framework of diversification of its reserves and supporting the value of the Iraqi dinar.
  • ISC has approved to extend one more month for Mosul Bank (BMFI) for its new shares to resume trading from the capital increase through 17.3% rights issue and 7.4% bonus issue.
  • A cross transaction occurred on IQD220mn Credit Bank of Iraq (BROI) shares on April 6, 2014. This represents 0.1% of BROI capital.

Iraq Business News

Iraq Stock Market Report

By , April 15, 2014 6:03 am

Iraq Stock Market Report

Advertising Feature

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th April 2014).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at ID1,823 (+0.1%)/ $ 1,943 (+0.1%) (weekly change). The number of week traded shares was 14.4bn and the weekly trading volume was ID20.6bn ($ 16.9mn).

ScreenHunter_491 Apr. 15 02.24

ISX Company Announcements

  • Al-Mansour Pharma. Ind. (IMAP) will hold its AGM* on May 17 to discuss 2013 annual financial results and distributing cash dividend. ISX will suspend trading of IMAP starting May 11.
  • Baghdad Passengers Transport (SBPT) will resume trading on Apr. 13, 2014 after increasing its capital from IQD200mn to IQD500mn through 150% bonus issue. The opening price will be IQD33.2 per share with +/- 50% limit for the first session.
  • Original shares of Union Bank (BUOI) resumed trading on Apr. 10, 2014 after they discussed and approved 2013 financial results and increasing its capital from IQD152bn to IQD252bn through 36.2% bonus and 29.6% rights issues.
  • AL-Nukhba for Construction (SNUC) will hold its AGM* on Apr. 17, 2014 to discuss 2012 annual financial results, distributing cash dividend, electing new board members and amending the article of incorporation by adding real-estate investment acitivities. ISX suspended trading of SNUC starting on Apr. 10, 2014.
  • A cross transaction occurred on IQD8.7bn National Bank of Iraq (BNOI) shares on April 8, 2014. This represents 3.5% of BNOI capital.
  • A cross transaction occurred on IQD25mn Al-Sadeer Hotel (HSAD) shares on April 8, 2014. This represents 2.0% of HSAD capital.
  • A cross transaction occurred on IQD1.83bn Kurdistan Int. Bank (BKUI) shares on April 7, 2014. This represents 0.6% of BKUI capital.
  • In a press conference on Apr. 3, 2014 CBI announced that the bank’s reserves of pure gold reached 90 tons after it bought 60 tons in the last two months in the framework of diversification of its reserves and supporting the value of the Iraqi dinar.
  • ISC has approved to extend one more month for Mosul Bank (BMFI) for its new shares to resume trading from the capital increase through 17.3% rights issue and 7.4% bonus issue.
  • A cross transaction occurred on IQD220mn Credit Bank of Iraq (BROI) shares on April 6, 2014. This represents 0.1% of BROI capital.

Iraq Business News

Overcoming Looting and Years of War, Iraq Museum Moves to Reopen

By , April 13, 2014 2:56 am

Iraqi-British archaeologist Lamia al-Gailani talks with media director Hakim al-Shamery at the Iraq Museum in Baghdad. The museum has a collection that reaches back to the beginning of human civilization (photo: Jane Arraf).Lamia al-Gailani pulls a folder of crumbling letters from a battered metal cabinet — part of what she considers the secret treasures of the Iraq Museum.

The cabinets hold archives from the beginnings of the venerable institution, established after World War I by Gertrude Bell, the famed British administrator, writer, and explorer. Hundreds of thousands of documents and photographs, neglected until now, hold the untold story of an emerging nation whose borders “Miss Bell” helped to draw.

“Wonderful isn’t it?” says Ms. Gailani, an archaeologist. She pulls out photographs of the Iraq pavilion at the 1938 Paris Expo and a yellowing, typewritten letter from 1921 confirming the appointment of Bell as honorary museum director. “People probably thought these archives don’t exist. These are treasures that no one knows about.”

The archives, just now being catalogued after decades of neglect, escaped notice when thieves looted the museum’s storerooms amid the chaos of the 2003 US invasion. At the time, the theft of thousands of antiquities as US soldiers stood by was one of the biggest scandals of the war. The museum holds not just objects from Iraq’s ancient history but artifacts from the very beginning of human civilization. The first cities sprung up around the Tigris and Euphrates rivers in ancient Mesopotamia. The first form of writing — cuneiform on clay tablets — developed here.

The museum has since been repaired, and most of the larger pieces stolen from the galleries have been recovered. Now, after years of failed attempts to host more than just occasional groups, its staff of several hundred is hopeful they are poised to throw open their doors to all Iraqis.

“We have coordinated with Baghdad security officials to secure the museum in a better manner than before, and we hope that we will succeed in opening the museum in the first half of 2014,” says director Qais Hussein Rashid. “We are determined to reopen to the public — to families and everybody. Not like last time, when it was open only for officials and for a limited time,” he says.

RECOMMENDED: Think you know the Middle East? Take our geography quiz.

Work is continuing in the exhibition halls and on the main gate. The tank round fired by US soldiers returning fire from gunmen in the building was patched up several years ago, but the main entrance below it is still firmly shut.

And while visitors will see halls newly renovated by the Italian government, and even new finds from Iraqi excavations in the south of Iraq, they won’t see some of the world’s most dazzling archaeological treasures — hundreds of pieces of jewelry and golden pieces from Ur and from the royal tombs of Nimrud. The finds, displayed just once since the war, will remain in bank vaults outside the museum.

“Even just transporting them from the secured site where they are now would need higher approval than our ministry — it needs the prime minister’s council approval,” says Mr. Rashid of the more than 100 pounds of gold artifacts.

Seeing the effects of violence and neglect

The museum, whose art deco design dates to the 1930s when the structure was commissioned, is also struggling with ongoing violence in central Baghdad.

“We’ll need to repair this,” says press director Hakim al-Shamery on a recent day, gesturing at a damaged ceiling in a small room dedicated to displaying recovered looted artifacts. He points out cylinder seals and other small items sent back after being seized in the United States, Europe, and Arab countries. The fallen ceiling is a recent casualty, caused a few weeks earlier by one of the regular bombings at a nearby government ministry.

Neglect is another challenge. The priceless collection of Assyrian ivory panels from the palace in Nimrud, almost 3,000 years old, suffers from the lack of temperature control in the display cases. In the slow-changing museum, some of the exhibits are displayed just as they were in the 1960s.

But for Gailani, inspiration comes as she plumbs the battered metal cabinets, scattered throughout which are photos of the museum’s glamorous past. Using an old desktop computer, Khitam Khadim, the head of the archives, has scanned tens of thousands of files and photographs that Gailani is trying to catalogue.

“I realized there were some things that no one had looked at before,” says Gailani, her enthusiasm undiminished after 50 years as an archaeologist in Iraq and Britain. “Everyone is always focused on the gold and the jewelry — they bypass these things absolutely, but it’s the history of the antiquities of Iraq from 1923 until now.”

Gailani credits Bell with the existence of the Iraq Museum, established at a time when many of Iraq’s archaeological treasures were taken away to London and Berlin early in the last century.

“Before that, foreign expeditions who were digging here took everything,” she says. “Now there she was saying, ‘I want some of it. Then she fought for a museum building….There are hundreds of her letters here…. Really most of the documents of hers are begging for a museum until she got one.”

The archives are proving a treasure trove for a growing body of works about Bell, who, almost a century after her time here, remains a fascinating but enigmatic figure. A Hollywood feature film is now in production about Bell (played by Nicole Kidman), though it is focused more on her mysterious romantic life than her archaeological work.

“The men here liked her more than the women,” says Gailani, whose older relatives knew “Miss Bell.” “She wasn’t a raving beauty but she must have had something because they were all fascinated by her.”

Assyrian International News Agency

Reading Between the Lines in Iraq Election Posters

By , April 12, 2014 9:49 am

Campaigning for Iraq’s elections started last week. Almost immediately the nation’s streets were covered in campaign posters. Now locals say reading between the posters’ lines it’s possible to discern hidden messages about new alliances, trends in candidature and the shifting political landscape as well as answer questions like: Why is everybody campaigning in Baghdad? And why are religious parties touting good looking, unveiled women as candidates?

It’s been a week since campaigning began for Iraq’s general elections, due to be held at the end of this month, on April 30. After just one week of being bombarded by campaign messages and seeing streets covered in election materials, locals are gleaning hidden messages from campaign posters and other election materials. These messages indicate new alliances, surprising new methods and interesting new personalities on the shifting political scene.

For example, one of current Prime Minister, Nouri al-Maliki’s latest methods seems to be to bring his family with him on the campaign trail. Many of his relatives already occupy senior positions in various government departments and in the past they have been reticent about declaring those interests and have shunned publicity. But now some — like his eldest daughter’s husband and his youngest daughter’s husband, Yasir al-Maliki — are running for seats in Parliament and openly advertising their relationship with the country’s leader. The same goes for an increasing number of al-Maliki’s relatives and members of his tribe.

Other noticeable additions to the al-Maliki camp are high profile defectors from other parties, such as Alia Nassif, formerly an MP for the Iraqiya list — who is now listed as number 36, higher up on al-Maliki’s party list than some other, long-standing senior members.

The election campaigning has also made it clear that a lot of the candidates for al-Maliki’s State of Law bloc are first-time political wannabes, who are not well known in political, business or social circles. Some have said this is because the State of Law wants MPs who will toe the bloc’s line, unlike high profile defectors like senior MPs, Hussein al-Asadi and Jawad al-Bazzouni, who have both left al-Maliki’s Shiite Muslim coalition to join the also-Shiite-Muslim-dominated Citizen, or Muwatin, bloc.

Also clear, judging by State of Law candidates’ posters, is how al-Maliki wants the world to see him — as a strong, anti-terrorism leader. Many of the posters’ backgrounds feature pictures of Iraqi army soldiers and tanks.

In their campaigning, the United coalition, which is led by one of the country’s most senior Sunni Muslim politicians, Osama al-Nujaifi, has also tried to push candidates with closer ties to them, many of whom come from Sunni Muslim tribes. However there are currently big problems in communicating with those tribal groups in the Anbar province, because of ongoing military operations and violence there.

Meanwhile the Citizen bloc has also surprised some with its campaign materials. This party is dominated by religious interests and led by the Islamic Supreme Council of Iraq, or ISCI, which is headed by relatively young cleric, Ammar al-Hakim. Some of their posters feature defectors from their former coalition ally, al-Maliki’s party.

Others feature female candidates who don’t appear to have any ongoing link to the ISCI. And even more interesting, these female candidates for the Citizen bloc are not veiled. This is thought to be the first time that an Islamic-oriented party has allowed such a thing. Some cynics have also noted that a lot of the unveiled women are actually very attractive — and they joke that the ISCI is trying its very best to appeal to young Iraqi voters with good looking candidates.

The Citizen bloc also has other surprising candidates on its posters — some of their allies come from distinctly secular backgrounds and include academics, journalists, acclaimed intellectuals, actors, writers and even sportspeople. Then again maybe this shouldn’t be so surprising: The Citizen bloc is taking a leaf out of the Barack Obama political playbook with its slogan, Change.

Speaking of secular, there is another new party worth noting competing in these elections. Locals with mainly business or economic interests have formed their own coalition for the first time, named the Iraq Coalition. It’s being led by Mahdi al-Hafeth, a well known businessman who was Minister of Planning straight after 2003′s US-led invasion of Iraq.

Although many of the candidates in this group don’t have a lot of political experience, analysts suggest that they’ll have an impact firstly, because of the amount of money they have available to spend on election campaigning and secondly, because many of the candidates are successful businesspeople who have close ties to the country’s political scene already.

Meanwhile former Prime Minister Ayad Allawi is distinguishing his party, Wataniya, from other parties by attempting to exclude almost all religious overtones; his candidates consist of civil society activists, women’s rights campaigners and personalities form Iraq’s secular society. It seems that Allawi wants to send a loud and clear message that he remains a liberal personality who believes in the separation of church and state.

Another notable new group is the Civil Democratic Alliance, formed as an umbrella organisation for a number of smaller, secular parties and civil society groups. Prominent members include the Iraqi Communist Party and socialist groups — and although this is the first time the parties have competed in elections altogether in a group, they have individually had success in other Iraqi elections, with seats won by one or another member of the group in most Iraqi provinces; they can be expected to repeat that this year, but as an alliance.

And finally looking around at the campaign posters in Baghdad, it’s also obvious that a lot of candidates are fighting for seats outside of their home provinces. This includes Hassan al-Snaid, head of Baghdad’s Parliamentary committee on security and defence, who competed in Dhi Qar province previously, the Minister for Human Rights, Mohammed Shayaa al-Sudani, who resides in the Maysan province and a senior politician from al-Hakim’s group, Hammam Hammoudi who was a candidate in Dohuk before.

Analysts say these candidates — and others like them — are taking a big risk by competing for seats in Baghdad. However they have good reasons. As incumbents, they may well have lost popularity in their home towns over the past few years as the Iraqi government has not been seen as particularly effective by locals. Additionally Baghdad offers them the biggest pool of voters in the country and also the most ethnically and religiously mixed pool, which may level the playing field somewhat.

Assyrian International News Agency

ADIB Plans Iraq Expansion

By , April 11, 2014 4:33 pm

ADIB Plans Iraq Expansion

By John Lee.

The Abu Dhabi Islamic Bank (ADIB) is the latest bank to expand business in Iraq, according to a report from The National.

Currently the only UAE lender to operate in Iraq, ADIB plans to open a branch in Basra before the end of the year after it opened a branch in Erbil in October. The bank obtained a licence from Iraq’s central bank in 2010 and opened its first branch in Baghdad shortly after.

ADIB said:

With Iraq rebuilding its economy through investing in its infrastructure, energy and industry, we are seeing growing demand for our banking services, from foreign companies doing business in Iraq as well as from local companies that are looking for capital and world class services …

“We are in the process of extending our branch network and launching a new consumer banking solution that includes long-term deposits accounts, auto finance and property finance in the near future …

“[ADIB] is already a fully fledged corporate and consumer bank in Iraq, providing cash management, trade [letters of credit and guarantees] and foreign-exchange services.”

ADIB is only the second foreign bank to enter the market by starting a branch from scratch rather than through a partnership. The first foreign bank to do so was Byblos Bank of Lebanon.

(Source: The National)

Iraq Business News

As Immunity Ends, Iraq Takes Measures to Protect its Funds

By , April 11, 2014 11:39 am

http://theiraqijournal.com/as-immunity-ends-iraq-takes-measures-to-protect-its-funds/

Please any Questions: send to breitlingcurrency@gmail.com I will get to your questions as soon as possible by personal e-mail, blog post or audio “If you Knew you could not fail, what would you try today?” Philippians 4:13