Bankruptcy 540 companies in the Kurdistan region


The head of the registration of companies in the Kurdistan region of Dalzar Ismail on Saturday, the bankruptcy of 540 companies in the Kurdistan region because of the low liquidity in the markets, while noting the registration of hundreds of new companies of their names in the region.

"120 foreign companies and 420 local companies have declared bankruptcy, 35 percent of them are commercial companies, 25 percent are construction companies and companies are working in other fields," Ismail told Iraq News.

The director of registration companies in Kurdistan, said that "because of the financial crisis and low liquidity in the markets, many companies in the Kurdistan region declared bankruptcy," noting that "this is normal, because in return for that many companies registered their names this year, Territory ".

The Kurdistan region is suffering from a severe economic crisis that has forced the Kurdistan Regional Government to pay salaries to Kurdistan employees.

United Nations: recovery of the growth of the Iraqi economy after the defeat of Wahhabism


Foreign investors are beginning to be attracted to doing business in Iraq as the economic situation improves and a declaration of defeat defeats Wahhabism in the country, a Financial Times report quoted international officials as saying.

"Many countries have expressed their desire for economic cooperation with Baghdad after they have declared their full victory over terrorism in the country," the report quoted UN adviser to the Iraqi economy Falah Lami as saying on Saturday.

"In recent months, many delegations and government and private companies in Europe and the United States visited Iraq," he said, referring in particular to the "recent meeting between officials of the Central Bank of Iraq and representatives of Airbus and Total, as well as the visit of the British Prime Minister and a group of companies American. "

"All this indicates the recovery of Iraq. After announcing the final victory over terrorism, many have indicated that they want to invest in various areas of the Iraqi economy. Iraq has become a lucrative and attractive place for economic cooperation," he said.

"After falling oil prices, Baghdad desperately needs foreign capital and Chinese companies are already investing in the Iraqi economy," he said.

At the end of 2016, the World Bank approved a $ 1.485 billion new aid package for Iraq aimed at boosting the country’s economy, stimulating private sector growth and supporting job creation, while the country’s 2018 budget said strict costing would help the Iraqi authorities pay part Of its debt to the International Monetary Fund.…1#.WjU2PlWnGUl

Iraq is going to attract big investors


As the government, after winning the final victory on "Dahesh", sought to attract major investors in the region and the world, a financial expert urged quick amendments to the investment laws and regulations and made them more flexible with a plan to launch a real partnership between the public and private sectors.

Thamer Al-Azzawi told Al-Sabah: "The discussions currently being held between the decision-makers in the country, traders, investors and representatives of the private sector, including working to promote the Iraqi economy through the launch of a package of reforms during the next year."

An element attracting and added that "these positive steps, and can have the Iraqi market move, but the most important element is to build trust, and it must begin implementation on the ground, in order to be attractive to investors element."

"It will open new horizons for development in the country, because investment is one of the structures of the superpowers, and governments can no longer do everything," he said. But he called for "quick adjustments" On the laws and legislation to urge investors to withdraw their money and shuffle in Iraq. "

Development goals
should be noted that the Minister of Planning , Dr. Salman al – Jumaili had said during an earlier meeting with the Iraqi private sector representatives, he said that " the government wants the private sector to be an active and influential, because it is aware of the possibility of this sector and its ability to achieve development goals, especially in the field of investment."

Senior investors

"Iraq is on the verge of a new stage of building, reconstruction, opening up to investment and seeking to attract large investors to the country," he said. "We must give our Iraqi private sector the opportunity to be a strong competitor.

He pointed out that "Iraq’s economic and investment relations have seen a significant development during the recent period, including relations with the sister Kingdom of Saudi Arabia, has been the formation of the high-level coordination between the two countries," calling at the same time, "the private sector to provide an appropriate vision on investment operations in the country "He said.

Iraq is a safe passage for the world


Back point link between Asia, Europe and Africa
Baghdad / Hussein Tgb
Farah pumice ,
following the economic victories , which represents the product of the victory of Iraq "Daesh" terrorist and carrying Bmahsaltha great benefit of the national economy for its contribution to the multiplicity of fiscal revenue, which represents the opening Iraqi airspace in front of the global air traffic new economic success , The Sons of Iraq line by their victory in the war against the forces of darkness.

The passage of planes Associate Director of Iraqi Airways Sadeq Faleh Ghadhban said: "Iraq is moving towards the stability of the security aspect in full, which in turn leads to bring benefit to the national economy in all sectors, especially the Iraqi airspace, which has become safe before the international air traffic,"

pointing out that " The return of Iraqi airspace to life and the passage of the aircraft of major international companies through our airspace is making significant financial gains contribute to the country’s many revenues already. "

He said in an interview for "morning" that "Iraq will receive the amount of $ 325 for each aircraft passing Iraqi airspace, and the activation of the movement of aviation raises the amounts obtained from this process," adding that "the geographical location of Iraq on the map of the world makes it the most suitable for air traffic between poles The eastern and western world,

where it shortens the time and reduces the cost of fuel in the case of adopting alternative routes to Iraqi airspace, which makes many international companies mean the Iraqi atmosphere.

Achieving revenue and expected angry that "aircraft passing through Iraqi airspace through the atmosphere over the next periods movement rises, this means that Iraq is on the verge of achieving significant financial revenue with the rise in the graph of the number of aircraft that mean Iraqi airspace."

The US Aviation Administration and its associated companies have revealed the return of the Iraqi airspace after the announcement of the victory on the "duel", as the US Aviation Administration and its associated companies re-fly in Iraqi airspace after the announcement of victory.

Aviation Department has confirmed the expert in civil aviation and air transport Abdul Karim Leftah the importance of announcing the US Aviation Administration and its associated companies to resume flights in Iraqi airspace after the announcement of victory. The expert said in a statement to "morning" that "this step will enter the funds to the state treasury, such as transit and flying over the Iraqi airspace.

" The expert noted that "this step will push other companies to take similar steps," and expected that "Iraq in the coming years will be an important transit point in the region compete with other countries, in addition to attracting investors."

Civil aircraft
Transport Minister Kazem Vanjam Al-Hamami announced last Sunday that "the American Aviation Administration and its associated companies will resume the flight of US civil aircraft over Iraqi airspace after the final victory over criminal gangs is announced."

"The US Federal Aviation Administration (FAA) reduced the warning to 26,000 feet after the announcement of victory and the end of military operations in Iraq," al-Hamami said, adding that "the reduction of the warning will allow US aircraft, US-registered aircraft and other airlines associated with it to fly back Iraqi airspace again,

"noting that" the announcement by the US Aviation Administration to resume flights over the Iraqi airspace will be an incentive for countries of the world and the region to follow suit, especially that the Iraqi airspace open to international airlines. "

"Airports are paying more attention to infrastructure, especially as Iraq is coming back to the forefront as a point of contact between Asia, Europe and Africa," he said.

The number of flights and continued gesture that "re-flight will contribute to the introduction of good amounts to the treasury of the state, especially since the recent period has seen an increase in the number of flights flying over the Iraqi airspace, reaching more than 150 aircraft."

It is noteworthy that parliamentary committees have confirmed that "the increase in the number of flights that cross over Iraq is a sign of Iraq’s openness to the world again."

"This also shows that security concerns have been relieved by the sacrifices of the Iraqi forces," she said in a press statement, praising "the efforts to re-run civil aircraft routes and ensure their smooth and safe movement."

"This development will encourage more commercial air carriers to choose Iraq as a safe passage for civil aviation, especially as it enjoys a geographical location characteristic of the transition between countries of the East and West," they said.

Hilali: Refund of frozen funds provides international investment in Iraq


A member of the parliamentary legal committee Ibtisam al-Hilali on Wednesday, "lifting Iraq from Chapter VII and the recovery of frozen funds abroad is an important step for large international investment in the country.

"Al-Hilali said in a press statement that "after this important international decision on the concerned government agencies to move quickly to start recovering money and Iraqi assets frozen in the banks and international banks.

"She added that "this important decision and the subsequent important government steps will enhance the confidence of the international community in Iraq’s economic policy in particular, which opens the way for an international entry to invest in the country.

"The UN Security Council last Friday decided to exit Iraq from Chapter VII on Friday by adopting resolution 2390/2017 unanimously.

The UN Security Council put Iraq under the weight of Chapter VII in the framework of UN sanctions imposed after the invasion of Kuwait in 1990.

World Bank renews support for Iraqi economy and reform process


The Central Bank of the World, to the Prime Minister Haider Abadi support for the Iraqi economy and the reform process in the fight against corruption and the evaluation of the organs of the state.

" Prime Minister Haider al-Abbadi met in Paris with World Bank Director Jim Young-Kim and discussed strengthening economic and financial relations and ways of developing banking in the country," said Abbadi’s office in a statement issued on Wednesday .

"The continued support of the World Bank for the Iraqi economy and the reform process led by the Iraqi government and the great success achieved in this area," Kim said.

Parliamentary Finance: Iraq loses $ 263 per second


A member of the parliamentary finance committee, Haitham al-Jubouri, said Wednesday that "Iraq loses 263 dollars per second because of corruption in the country," explaining that "the parties interfere in the work of anti-corruption committees.

"Jubouri said in a statement, "Trend Press," that since the application of the law on customs tariffs in Iraq by 2013 so far was expected to be the state revenues estimated at 8 to 9 billion dollars a year, because the size of what is sold from the window of the currency in the Central Bank Iraq is more than 40 billion dollars,

if we take the lowest percentage of customs and 10% added to the ratio of 3% of the customs duty is the total 13% of this amount will be the value of customs 5.2 billion dollars.

He added that "Iraq is losing 263 dollars per second because of the corruption of customs officials," noting that "the large and rampant corruption is located at the border crossings.

"He pointed out that "we in parliament formed a committee, but because of the interference of political parties in its work has been terminated.

"He explained that "the only step to combat corruption is to strengthen the main regulatory tools, namely the Integrity Commission and the Bureau of Financial Supervision and the security services and reform of the judiciary because there are many problems in the judiciary where some files are transferred to the judiciary, but because of corruption, these files are settled by some corrupt" .

He pointed out that "can not combat corruption by raising slogans and the House of Representatives to leave the courtesies that are at the expense of the Iraqi citizen.

"The House intends to complete the questioning of ministers as former finance minister and former defense minister in the past period, while confirming his quest to complete the questioning of new ministers in the next legislative session.

Stability Council: 30 global banks pose a potential threat to the international financial system

The Global Financial Stability Board has issued a new list of 30 international banks that are required to increase their own capital, because the size of these banks is so great that they pose a threat to the international financial system if they falter. "

The board put forward the new list on Tuesday, saying that the 3.5 per cent is empty, with no bank required for that additional capital ratio. In the second, JPMorgan is the only one in need of 2.5 per cent, Capitalized by 2 per cent; Bank of America, Citigroup, Deutsche Bank and HSBC.

"Eight banks are required to raise their own capital by 1.5 percent, Bank of China, Barclays, BNP Paribas, China Construction Bank, Goldman Sachs, Industrial and Commercial Bank of China, Mitsubishi UFJ Bank of Japan, .

China’s Agricultural Bank, New York Mellon Bank, Swiss Credit Suisse, Crédit Agricole France, ING Dutch, Mizuho Japan, Morgan Stanley, Royal Bank of Scotland, Santander, Société Générale, Standard Chartered Bank, State Street, Sumitomo Misui, UBS, and Italian Credit Bank.

The G20, which was established in 2009, amends this list annually in accordance with the developments of the banks in terms of their capital and risk-weighted assets.

These banks are required to raise additional capital above the minimum required according to several criteria; The Basel Committee "and that additional ratio is divided into segments ranging from one to 3.5 per cent."…%D9%84-%D8%AE/

The risk of "decomposition"


The virtual world on the World Wide Web is slowly approaching the real world. Those who do not believe in the reality of electronic payment systems today are not dealing with cash and only carry payment cards used in ATM units around the world.

Those who do not believe in e-shopping are inclined to shorten their time and effort. They are familiar with the details of goods and products, identify consumers’ opinions on brands and prices, and sit in his office using computer and bank cards.

In other words, technologies are approaching absolute dominance over transactions and trades to be an electronic payment alternative to cash payment, which means lower rates of use of cash in financial transactions towards the reduction of paper currency and may be removed from the trading arena in the near or distant future.

Thus, there is an urgent need for virtual currencies that are compatible with the development paths of technologies that are monopolized by countries and companies that dominate the knowledge economy.

This knowledge economy is a zero economy, which is dominated by the major industrial countries, without giving the inhabitants of the world a knowledge economy.

Only knowledge, which is zero because it is an element of absolute superiority depends on the monopoly of knowledge similar to the game of dragging the rope, which often draws more rope at the expense of the knockout and the secrets of knowledge and manages the affairs of all economic sectors in the

Hence the need for a virtual currency to establish a global payment system that swallows all trades and transactions in favor of those who monopolize the knowledge economy.

On this basis, many virtual currencies have emerged on the Internet to prepare a new exchange system in the virtual world markets that will approach the real world in the future, Soon, the "Betkin", which was initially surrounded by a lot of ambiguity, emerged to crystallize its existence in line with the real world.

"Bettkin" is a hypothetical currency not issued by a central bank but can be compared with other currencies, such as the dollar or the euro, with several fundamental differences as an electronic currency trading on the World Wide Web only, without physical presence.

On the Internet by those who monopolize knowledge and thus warn of a monopolistic global financial system that will wipe out national currencies and create a massive chaos that will establish the confiscation of the world.

Will the warning benefit from the circulation of the "pettin" that is directed by central banks, as did Saudi Arabia and Morocco? As it happened In Egypt, the answer here is that you need to know what the knowledge economy has reached so that we can read the

Iraq trusted the world economically


The effect of the provisions of Chapter VII
Baghdad/Hussain thghb

Substantial economic triumph parallel security victories is the force of the provisions of Chapter VII, which Iraq cable and his relations with the world for a long period of time kept Iraq from the world for decades, where I began the day stage of real openness on the world associated with the confidence of the international community in Iraq.

A beautiful name Economist Antoine stressed that "Iraq has become the international confidence and freedom in financial dealings after force provisions of section VII, where you lift all restrictions that were imposed, the amounts released Iraqi banks became free and open documentary credits Without an intermediary. "

All commitments
The Security Council adopted resolution 2390 numbered according to Iraq out of Chapter VII completed all commitments regarding the oil for food and medicine, the Council adopted unanimously a draft resolution contained in document S/10132017, prepared by the United States in consultation with Iraq and Member States and may I call the number 2390 (2017) and establishes welcome the implementation arrangements between Iraq and the United Nations resolution (1958) 2010,

and confirm the remaining money transfer to the Government of Iraq under resolution (2335 (2016) the Council, in resolution concludes that the parties (Iraq and the United Nations) were implemented in implementation Fully measures imposed in accordance with the provisions of Chapter VII resolutions above regarding the oil for food and medicine.

Expenditure operations
Antoine drew that "this decision gives the foreign investor and free transfers, which in turn contributes to the revival of investment, pointing out that we provided extensive reconstruction campaign punctuated by big spending, we should be your banker rhymes and spending."

He demanded that turns the role of investment banks and the reliance on secondary currency auction, particularly international banks offer more than 120, and that requires us to bring our products to large numbers fit the reality of the investor and to be central for the leading role in this process.

The focus of the trust
Competent Malian Haidar Kazim Al-Baghdadi said: "Iraq today became the focus of the trust the outside world after the full entry into force of the provisions of Chapter VII, and we have to be as long as this responsibility, especially since Iraq is no longer a country traditionally but described as rich in natural and human resources, so it takes Plans to promote economic capabilities available in Iraq.

He noted that "the Iraqi banking system has successful experiences and has experience qualifies him to promote banking and it offers sophisticated products, especially that our banks have been able to achieve a breakthrough in their products so dependent on banking tools and products to cover all accessories and performance costs."

Central guidance
Between Haidar Kazim Al-Baghdadi that "the large number of banking system would create positive competition in performance leading to product development and bring sophisticated systems facilitate all banking operations and its ability to compete with the world’s largest banks, branches and here they must abide by the directives of the Central Bank The Iraqi new builds with developments in the financial sector .

He cautioned that "the Iraqi banking system which is the focus of economic activity before him prove existence, through the provision of services required by sophisticated systems, especially after he was thrust into the global banking sector more freedom and movement constraints were broken up before, which makes us Working to create a banking sector
Sophisticated. "