Iraq Food Imports in 2012

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Innocent Iraqi people came across a series of wars in the last 3 decades. They lost their beloved ones, but at the same time, they deprived of basic necessities of life. The Grain Board of Iraq GBI established a state-run food rationing system in 1990 to facilitate their citizens. Unites Nations applied trade sanctions on Iraq due to the aggressive political moves of formal ruler Saddam. The poorer citizens had to pay the penalty as they were starving of eating food items at that time. The food rationing system was put into place to allow the Iraqi people to get required quantities for almost no charge. More detail please read full story.

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Iraq is supporting the World Peace

Source by: Dinar Deal's Alert

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The law and order situation in Iraq was out of control few years back, but after the UN invasion in 2003, the Coalition Forces took charge of Iraq and a democratic government took office as a result of general elections in 2006. Initial years were extremely challenging for the current democratic government, apart from the law and order situation speculations, counterfeits and black marketing were at its peak. Many sectarian and religious issues restricted Maliki`s scope of improvement. More detail please click here

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Iraq Economy After 10 Years of the Invasion

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After the ten years of the invasion, Iraq economy is still limping and crawling. The current Maliki government is trying their best to overcome prevailing political and sectarian issues in many provinces. The Iraq Federal Budget 2013 has been passed after a series of sessions on the 7th of March. Differences of opinion on the budget allocations for different regions are still there among the various political groups. According to UN statistics, the Iraq economy showed 8% growth in the last year, and it is hoped that the growth will touch 9% digit this year. More detail please visit here

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Agility Will Provide Logistic Services in Majnoon Iraq

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Iraq is exporting millions of crude oil to the neighboring and Asian countries. Business agreements are being done with top oil companies in this regard. Abandon oil and gas reserves of Iraq are at the 2nd highest level in the world after Saudi Arabia. For more detail Click Here

Financial Growth of Iraq

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Seven years have passed, but Iraq economy is still struggling. The root causes are countless, but the question is how long it will take and what will be the right steps to be taken? Iraqi dinar is very popular these days in all international financial markets not because of its high rates, but for its future forecasts. ID had not been traded freely in world foreign exchange markets because of the absence of some well reputed Iraqi bank outside Iraq even in the times when Iraqi dinar was at its peak. For more detail Visit Here

Dust Storms of Iraq

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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

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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

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.