Expected Rate Change in Iraqi Dinar IQD

Source by: Dinar Deal's Alert

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According to the Dinar Deal’s Alert, there will be a rate change in the value of ID in the coming couple of days. The news has been floated on yesterday on behalf of the Central Bank of Iraq. CBI has uploaded its M2 data on Arabic side. The figures are available up to Jan 2013. So there is a loop of 2 months in the current data. The statistics tell the story that the total quantity for hard cash of ID has reduced by 1.5%. It looks very small, but in dinars it is a good amount to consider. For more detail Click Here

Pounds (GBP) and Iraqi Dinar (IQD) Currency Exchange Rate

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On the 5th of March 2013, first Iraqi Airways Plane landed in London after more than 20 years. The Gatwick Airport of London was to have an honor for this. The Iraq Britain Business Council expressed immense pleasure for the restoration of the direct flights between Baghdad and London. The Iraq Business News reported that the Executive Chairman of IBBC Baroness Nicholson gave his positive views on the resumption of the direct flights after 2 decades. For more detail Visit Here

Dust Storms of Iraq

Source by: Dinar Deal's Alert

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Natural calamities and disasters are always hard to forecast for the department responsible for weather and environment. Some countries are geographically situated in a position that sand and dust storms often stuck with them. Unfortunately, Iraq is one of those countries where dust storms hit and last for days. UNO has been playing its role in Iraq for decades. A ministerial meeting has been held under the supervision of UNEP, United Nations Environment program In Nairobi Kenya. For more detail please visit here

Water Project in Kurdistan Region

Source by: Dinar Deal's Alert

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The people of Kurdistan Region are suffering from drinking water as a result of continuous wars. Massacre of 2 decades destroyed the infrastructure and water storage units in most of the areas. The KRG Minister for Municipalities and Tourism has signed a water project on the 10th of March 2013. According to the statement by the minister, 51 villages will benefit this project for the next 25 years. The project will be completed in the time frame of 720 days. The Minister is hoping that the implementation of this project will certainly overcome the water crises in the region. The cost of the project is IQD 96 billion, and it is part of the KRG budget 2013. For detail news please visit here

Indonesian Rupiahs (IDR) and Iraqi Dinars (IQD) Currency Exchange Rate

Source by: Dinar Deal's Alert

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On the 13th of March 2013, Iraq has signed an agreement in the field of energy and natural resources. The Office of Deputy Prime Minister of Iraq has announced that Iraq would provide Indonesia with 35 million barrels of crude oil per day. The signing ceremony was held in the presence of the Vice Prime Minister of Iraq Husain al-Shahristanifor Energy Affairs and Coordinating Minister for Economic Affairs of Indonesia HataraJasa. Representatives of oil companies from Indonesia, other ministers from both countries and ambassadors have attended the ceremony. For Complete news Visit Here

Iraqi Dinars (IQD) and United States Dollars (USD) Currency Exchange Rate

Source By: Dinar Deal's Alert

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According to Iraq Business News, the value of Iraq-US trade was $21 billion in 2012 out of which US exports to Iraq were $2 million and the value of Iraq exports to US were $19 billion. Iraq and United States have announced that the volume of the two-way business will increase in the light of TIFA, Trade and Investment Framework Agreement. This agreement was negotiated in 2005 for the first time.Diplomats from the two countries will exchange their notes at the end of this year. For full story please click here

Iraqi Dinar (IQD) and Egyptian Pound (EGP) Currency Exchange Rate

Source by: Dinar Deal's Alert

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In the last few years, Iraq has regained its repute in the international business community. Being a leading oil producer in the region, Iraq is developing its connections with Asia, Europe, the Gulf and even Africa through its exports of crude oil. United Nations has started various development projects in this regard. The natural and human resources of Iraq are being utilized by doing business agreements with the other countries.

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Multinational Banks are to lift the Iraq Economy

Source by: Dinar Deal's Alert

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Iraq economy has been under strain for the last 3 decades as a result of continuous wars and chronic law and order situation. Maliki government took office in 2006 after the general elections in Oct 2005. The coalition Provisional Authority introduced New Iraqi Dinar in 2004 in replacement of Saddam pictured notes. Unfortunately, Iraqi dinar could not get international reputation in the world foreign exchange markets even at its peak times. Read more full story please click here

PetroChina Considers Join Exxon at West Qurna-1

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Iraqi Budgets Is Yet To Be Passed

The Chairman of PetroChina has told Reuters that his company is willing to join Exxon Mobil in the 400,000-bpd West Qurna-1 oilfield project.

Jiang Jiemin (pictured) told the news agency:

“We are willing to jointly develop the project with Exxon Mobil. Exxon Mobil welcomed our participation and the Iraqi government also supports us joining the development … The asset value of the whole project is massive, but near-term capital spending required is not that huge.“

He went on to say that the PetroChina, owned by the China National Petroleum Corporation (CNPC), would “thoroughly evaluate the project” and make an investment decision at an “appropriate” time.

Exxon is understood to be considering various options to resolve the difficulties caused by the company’s activities in Iraqi Kurdistan, which Baghdad regards as illegal, and the Ministry of Oil may be willing to offer better terms. One option for Exxon may to to sell part of its 60 percent stake while remaining as operator.

CNPC made a play for Exxon’s full stake in West Qurna-1 at the end of last year, but the U.S. company was not satisfied with the bid, according to industry sources.