… Iraq (CBI) currency auction on October 17 registered $141,540,000 in sales, a -0.14% volume decline from the US $141,735,018 sold by Iraqi Dinar, …

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US dollar rises on talk of potential Fed chief nominee

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On Thursday 12th October a delegation of IBBC Members, led by Baroness Nicholson, Honorary President, met with H. E. Mr Asaad A., the recently appointed Governor of Basrah. The meeting took place in the Governor’s office, included a Lunch and lasted until the early evening.

The Governor presented his plans for Basrah and asked the company representatives how they could contribute to help achieve his ambitious objectives. IBBC members used the opportunity to introduce their companies and their services to the Governor and to participate in a wide ranging discussion with him.

Mr Rasmi Al Jabri, Deputy Chairman of IBBC, who facilitated the meeting was delighted with its many outcomes. He said that with Mr Edani at the helm of the Governorate the Province had a real chance to develop and modernise. He further commented that IBBC and all of its members stood ready to support Governor in his crucial work.

The IBBC delegation included representatives of the following companies: Basrah Engineering Group, Basrah Chamber of Commerce, Dar Al-Handasah, Ernst & Young, Garda World, Gulftainer, International Islamic Bank, Khudairi Group, Pell Frischmann, Penspen, Petrofac, Raatba Contracting Company, Restrata, Rumaila Operating Organisation (ROO) and Solar Turbines.

The meeting was also attended by Dr Ali Nasir and Phil Sherwood of the AMAR foundation.

(Source: IBBC)

Rupee hits over three-week high against US dollar

Livemint6 hours ago

Mumbai: Indian rupee on Monday strengthened to hit over three-week high against the US dollar after the country's trade deficit narrowed to a seven-month low.

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Alaak heads to America to participate in IMF and World Bank meetings
10/15/2017

The governor of the Central Bank Ali al-Alak, on Sunday, to the United States of America to participate in meetings of the International Monetary Fund and the World Bank.

"A delegation led by Central Bank Governor Ali Al-Alak heads to the United States to participate in IMF and World Bank meetings this week," the bank said in a statement.

The statement added that "it is hoped that the meeting on the sidelines of the meetings a number of central bank governors headed by the Governor of the Central Bank of Holland and the Governor of the Central Bank of Saudi Arabia."

He added that "there will be a meeting with the Chairman of the Board of Directors of the Arab Monetary Fund in addition to meetings with a delegation from the Treasury and the State Department and many economic and financial figures"

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