((ty Tom Thumb, for this article))...ADIB among banks planning Iraq expansion amid oil boom
[tlm724] Abu Dhabi Islamic Bank (ADIB) is the latest lender after JPMorgan, Citi and Standard Chartered to expand business in Iraq *hallelujah*
[tlm724] as the oil-rich country boosts crude production and rebuilds its infrastructure
[tlm724] The country plans to boost its output to 4.5 million bpd this year
[tlm724] “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
[tlm724] The branches would help provide liaison functions for Citi’s clients globally and contribute to the development of Iraq’s banking and capital markets
[tlm724] including Capital Bank of Jordan, HSBC, National Bank of Kuwait and Ahli United Bank of Bahrain – have already set up in Iraq, but they have entered through partnerships with local banks
[tlm724] Security risks always need to be considered, but we believe economic development will help to stabilise the country
[tlm724] In a frontier market such as Iraq
[tlm724] We hope the modernisation of the legal framework will allow for better financing structures and encourage financial institutions to underwrite more risks while protecting themselves.”
[tlm724] great article ! These major banks (players) don't hesitate to open and operate in Iraq ! It a sure sign that the financial side of Iraq has taken that quantum leap they talk about !
[lightingcslt] yes and they offering lines of credit
[lightingcslt] awesome art, thats what builds an economy
[tlm724] exactly !
[lightingcslt] Iraq, believe it or not is growing up, just a few kinks to get worked out
Iraq and UN sign a document as part of development assistance
[tlm724] signing of a document as part of development assistance with the United Nations for continued cooperation between the two sides to achieve stability and economic and social growth of the Iraqi people and the building of state institution
[tlm724] the UN has influence in Iraq, lets hope this works for the betterment of all !
Barzani: Maliki did not take into account the equal treatment can not waive the rights of the province
[tlm724] that is speeding erect counters
connecting all crude oil tankers via satellite and be under the supervision of the Federal Ministry of Oil and the Office of Financial Supervision and the Committee Oil and energy parliamentary to know the destination because the pricing of oil vary from state to state,
and compel the Federal Oil Ministry contracts with a global company for the installation of sophisticated laboratories to determine the percentage of sulfur from crude oil source,
considering that rates of sulfur affect the price of a barrel when exporting this guarantee the safety of pricing and not be manipulated through the results of laboratory testing currently under way. "ended
[tlm724] through the results of laboratory testing currently under way.
[tlm724] tells us there has been some progress at least as far as the monitoring system
A rise in shares of 27 companies worth 20 billion dinars last week
[tlm724] rising stock prices
[tlm724] thats good !
[lightingcslt] be alot more than that if the GOI would get it together
[tlm724] true, They pointed out that the claim banks to increase their capital and the disruption of adoption of the budget and near the legislative elections of factors led to the decline in the number of traders of non-Iraqis in the stock market.
[tlm724] It is possible to convert some of the companies important public into joint stock companies, to the fact that this will move the market activity and economic activity in general.
[tlm724] gotta keep those wheels moving !
15 Arab and foreign banks to open branches in Iraq since the beginning of 2014
[tlm724] 15 branches of Arab and foreign banks in the country during the last three months of the current year *mission*
[tlm724] love seeing this in the news again ! They are booming now they need to get the rest of the things in order
[tlm724] let it all fall into place . Turki must be doing something right !
Maliki: Iraq war is exposed to fierce international and confirms that the political majority is the beginning of change
[tlm724] that 'Iraq needs a political majority government comes backed by a strong, rather than fight the government of the House of Representative
[tlm724] ya think ...
Industry starts production of dry batteries for vehicles
[tlm724] is awaiting approval of the general budget for the launch of the allocations of projects produce other types of batteries
[lightingcslt] they are holding so much back
[tlm724] lack of budget has put the brakes on all forward progress, they best get real busy real quick *whip*
Presidency of the parliament formed a committee to mediate between the Governments of the region and the Center on Budget
[tlm724] Presidency of the parliament formed a committee to mediate between the Governments of the region and the Center
[tlm724] "The meeting stressed that the parliament does not assume the differences between Baghdad and Erbil, and they find a formula for a settlement," noting that "the Commission will begin its meetings starting Sunday with the parties.
[tlm724] lets hope this committee can do what the others couldn't