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· 21.02.2022

carpets industries is investing in the dinar

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In some cases, authority over a matter may rest among multiple ministries, which imposes additional bureaucratic steps and the likelihood of either inaction or the issuance of conflicting regulations due to errors or unusual circumstances. The development of regulations occurs largely away from public view; internal discussions at or between ministries are not usually made public.

In some instances, the only public interaction on regulations development is a press release from the official state press service at the conclusion of the process; in other cases, a press release is issued earlier. Regulatory enforcement mechanisms and agencies exist at some ministries, but they are usually understaffed and enforcement remains weak. Algeria is not a member of any regional economic bloc or of the WTO. The structure of Algerian regulations largely follows European—specifically French—standards.

The commercial law was established in and most recently updated in www. The judiciary is nominally independent from the executive branch, but U. Regulation enforcement actions are adjudicated in the national courts system and are appealable. Algeria has a system of administrative tribunals for adjudicating disputes with the government, distinct from the courts that handle civil disputes and criminal cases.

Decisions made under treaties or conventions to which Algeria is a signatory are binding and enforceable under Algerian law. In practice, the many regulatory and bureaucratic requirements for business operations provide officials many avenues to advance informally political or protectionist policies.

The investments law enacted in charged ANDI with creating four new branches to assist with business establishment and the management of investment incentives. The National Competition Council www. Established in late , it is housed under the Ministry of Commerce. Expropriation of property is extremely rare, with no cases within the last 10 years.

The Algerian code of civil procedure allows both private and public-sector companies full recourse to international arbitration. Algeria permits the inclusion of international arbitration clauses in contracts. Investment disputes sometimes occur, especially on major projects. These disputes can be settled informally through negotiations between the parties or via the domestic court system. For disputes with foreign investors, most cases are decided at international arbitration.

The most common disputes in the last several years have involved state-owned oil and gas company Sonatrach and its foreign partners concerning the retroactive application since of a windfall profits tax on hydrocarbons production. Sonatrach won a case in October against Spanish oil company Repsol and two Korean firms.

Sonatrach recently settled a dispute with French oil company Total. The most recent investment dispute involving a U. The company, which had encountered bureaucratic blocks on the expatriation of dividends from a investment, did not resort to arbitration. The dispute was resolved in , with the government permitting the company to expatriate the dividends.

The Algerian Chamber of Commerce and Industry CACI , the nationwide, state-supported chamber of commerce, has the authority to arbitrate investment disputes as an agent of the court. Local courts recognize and have the authority to enforce foreign arbitral awards. Disputes between state-owned enterprises SOEs and foreign investors are rarely decided in domestic courts, since nearly all contracts between foreign and Algerian partners include clauses for international arbitration.

While bankruptcy per se is not criminalized, management decisions such as company spending, investment decisions, and even procedural mistakes are subject to criminal penalties from fines to jail time, so decisions that lead to bankruptcy could be punishable under Algerian criminal law. However, bankruptcy cases rarely proceed to a full dissolution of assets.

Public companies on the verge of bankruptcy are generally propped up by the Algerian government via cash infusions from the public banking system. Investors also benefit from a three-year exemption on the corporate and professional activity taxes and a 50 percent reduction for three years on tenancy fees after construction is completed. The law also charges the state to cover, in part or in full, the necessary infrastructure works for the realization of the investment.

Regulations passed in a March executive decree exclude approximately economic activities from eligibility for the incentives www. The list of excluded investments is concentrated on the services sector but also includes manufacturing for some products. All investments in sales, whether retail or wholesale, and the imports business are ineligible. The investments law also provided state guarantees for the transfer of incoming investment capital and outgoing profits.

Pre-existing incentives established by other laws and regulations also include favorable loan rates well below inflation from public banks for qualified investments. The Algerian government does not officially mandate local employment, but businesses have reported instances of the government pressuring foreign companies operating in Algeria, particularly in the hydrocarbons sector, to limit the number of expatriate middle and senior managers so that Algerians can be hired for these positions.

Contacts at multinational companies have alleged this pressure is applied via visa applications for expatriate workers. Companies usually must provide extensive justification to various levels of the government as to why the expatriate worker is needed.

In , the Algerian government began instituting forced localization in the auto sector. Industry regulations issued in December require companies producing or assembling cars in the country to achieve a local integration rate of at least 15 percent within three years of operation. Dealers seeking to import new vehicles must obtain an import license from the Ministry of Commerce. Since January , the Ministry has not issued any licenses.

As the Algerian government further restricts imports, localization requirements are expected to broaden to other manufacturing industries over the next several years. Information technology providers are not required to turn over source codes or encryption keys, but all hardware and software imported to Algeria must be approved by the Agency for Regulation of Post and Telecommunication, under the Ministry of Post, Information Technology and Communication.

There are no data sovereignty rules mandating data storage within the country; due to IT infrastructure issues, most Algerians use email services with foreign domains. Secured interests in property are generally recognized and enforceable, but court proceedings can be lengthy and results unpredictable. All property not clearly titled to private owners remains under government ownership. As a result, the government controls most real property in Algeria, and instances of unclear titling have resulted in conflicting claims of ownership, which has made purchasing and financing real estate difficult.

Several business contacts have reported significant difficulty in obtaining land from the government to develop new industrial activities; the state prefers to lease land for year terms, renewable twice, rather than sell outright. Property sales are subject to registration at the tax inspection and publication office at the Mortgage Register Center and are part of the public record of that agency. All property contracts must go through a notary. Patent and trademark protection in Algeria remains covered by a series of ordinances dating from and , and representatives of U.

However, U. ONDA covers literary and artistic copyrights as well as digital software rights, while INAPI oversees the registration and protection of industrial trademarks and patents. Despite strengthened efforts at ONDA, INAPI, and the General Directorate for Customs under the Ministry of Finance , which have seen local production of pirated or counterfeit goods nearly disappear since , imported counterfeit goods are prevalent and easily obtained.

Algerian law enforcement agencies annually confiscate roughly 1. ONDA destroyed more than , copies of pirated media in its annual destruction campaign in , but software firms estimate that more than 85 percent of the software used in Algeria, and a similar percentage of titles used by government institutions and state-owned companies, is not licensed. For assistance, please refer to the U. The Algiers Stock Exchange has five stocks listed—each at no more than 35 percent equity—with a total market capitalization representing less than 0.

Despite its small size, the market functions well and is adequately regulated by an independent oversight commission that enforces compliance requirements on listed companies and traders. Proposed privatizations of state-owned companies have also been opposed by nationalist politics. Algerian society generally prefers material investment vehicles for savings, namely cash. Public banks, which dominate the banking sector see below , are required to purchase government securities when offered, meaning they have little leftover liquidity to make other investments.

Foreign portfolio investment is prohibited—the purchase of any investment product in Algeria, whether a government or corporate bond or equity stock, is limited to Algerian residents only. The banking sector is roughly 85 percent public and 15 percent private as measured by value of assets held, and is regulated by an independent central bank.

Estimated total assets in the sector in were roughly 9. The central bank had mandated a 12 percent minimum ratio for assets to liabilities until mid, when in response to a drop in liquidity the bank lowered the threshold to eight percent. The decrease in liquidity was a result of all public banks buying government bonds in the first public bond issuance in more than 10 years; buying at least five percent of the offered bonds is required for banks to participate as primary dealers in the government securities market.

The bond issuance essentially returned funds to the state that it had parked in funds at local banks during years of excess hydrocarbons profits. Despite falling liquidity, the banks are still considered financially healthy, with only about five percent of assets considered non-performing, which is standard for emerging markets.

The quality of service in public banks is generally considered low; generations of public banking executives and workers trained to operate in a statist economy lack familiarity with modern banking practices. Most transactions are still materialized non-electronic. Many areas of the country suffer from a dearth of branches, leaving large amounts of the population without access to banking services. ATMs are not widespread, especially outside the major cities, and few accept foreign bank cards.

Outside of major hotels with international clientele, hardly any retail establishments accept credit cards. Algerian banks do issue debit cards, but the system is distinct from any international payment system. In addition, approximately 4. Foreigners can open foreign currency accounts without restriction, but proof of a work permit or residency is required to open an account in Algerian dinars. Foreign banks are permitted to establish operations in the country, but they must be legally distinct entities from their overseas home offices.

Of the handful of foreign banks with a presence in Algeria, all are engaged exclusively in commercial banking; none offers retail banking services. The FATF also indicated Algeria has substantially addressed its action plan since strategic deficiencies were identified in There are few statutory restrictions on foreign investors converting, transferring, or repatriating funds, according to banking executives.

Monies cannot be expatriated to pay royalties or to pay for services provided by resident foreign companies. The difficultly with conversions and transfers results more from the procedures of the transfers rather than the statutory limitations: the process is heavily bureaucratic and requires almost 30 different steps from start to finish.

The slightest misstep at any stage can slow down or completely halt the process. In theory, it should take roughly one month to complete, but in reality, it often takes three to six months. Also, the Algerian government has been known to delay the process as leverage in commercial and financial disputes with foreign companies. Expatriated funds can be converted to any world currency.

As the Central Bank has full control of the official exchange rate of the Dinar, any change in its value could be considered currency manipulation. However, the dinar lost only about 10 percent of its value against the euro in the same time frame. There have been no recent changes to remittance policies. There are no specific time limitations, although the bureaucracy involved in remittances can often slow the process to as long as six months.

There is no legal parallel market by which investors can remit; however, there is a substantial black market currency exchange system in Algeria. Exchange rates for the dollar and euro are about 50 percent stronger on the black market than the official rates. With the more favorable informal rates, local sources report that most remittances occur via foreign currency hand-carried into the country. Under central bank regulations revised in September , travelers to Algeria are permitted to enter the country with up to 1, euros or equivalent without declaring the funds to customs.

However, any non-resident can only exchange dinars back to a foreign currency with proof of initial conversion from the foreign currency. More than half of the formal Algerian economy is comprised of state-owned enterprises SOEs , led by the national oil and gas company Sonatrach, although SOEs are present in all sectors of the economy. SOEs are so prevalent that a comprehensive public list does not exist; rather all SOEs are amalgamated into a single line of the state budget.

SOEs are listed in the official business registry. To be defined as an SOE, a company must be at least 51 percent owned by the state. Algerian SOEs are generally heavily bureaucratic and may be subject to political influence. There are competing lines of authority at the mid-levels, and contacts report mid and upper-level managers are reluctant to make decisions because internal accusations of favoritism or corruption are often used to settle political scores.

Senior management teams at SOEs report to their relevant ministry; CEOs of the larger companies such as Sonatrach, electric and gas utility Sonelgaz, and airline Air Algerie report directly to ministers. Boards of directors are appointed by the state, and the allocation of these seats is considered political. Legally, public and private companies compete under the same terms with respect to market share, products and services, and incentives.

Private enterprises have the same access to financing as SOEs, but they tend to work more with private banks and they are far less bureaucratic than their public counterparts. Public companies generally refrain from doing business with private banks.

In , a government directive ordered public companies to work only with public banks. The directive was later officially rescinded, but the effect has held as a self-imposed practice by public companies. SOEs are subject to the same tax burden and tax rebate policies as their private sector competitors, but business contacts report that the government favors SOEs over private sector companies in terms of access to land. SOEs are subject to budget constraints. Audits of public companies are conducted by the Court of Auditors under the jurisdiction of the Office of the President.

The Court is generally considered independent, but may be subject to pressure or interference from government officials, particularly with regard to politically sensitive financial results. It is widely believed that the Court is reluctant to release potentially controversial results.

The results of these audits are sent directly to the Minister of Finance, and the offices of the President and Prime Minister. They are not published publicly. There has been a very limited privatization of certain projects previously managed by SOEs in the water sector and likely other sectors, but the privatization of SOEs has been halted. Multinational, and particularly U. Companies such as Anadarko, Cisco, Microsoft, Boeing, Dow, and Berlitz support programs aimed at youth employment, education, and entrepreneurship.

RBC activities are gaining acceptance as a way for companies to contribute to local communities while often addressing business needs, such as a better-educated workforce. The national oil and gas company, Sonatrach, funds some social services for its employees and supports desert communities near production sites. Still, many Algerian companies view social programs as areas of government responsibility and do not consider such activities in their corporate decision-making process.

Algerian laws for consumer and environmental protections exist, but are weakly enforced. The current number of cases currently being investigated by the OCRC is not available. The Chairman and members of this commission were appointed by a presidential decree. The commission reviews financial holdings of public officials and carries out studies. Since , the Financial Intelligence Unit has been strengthened by new regulations that have given the unit more authority to address illegal monetary transactions and terrorism funding.

In , the government updated its anti-money laundering and counter-terrorist finance legislation to bolster the authority of the financial intelligence unit to monitor suspicious financial transactions and refer violations of the law to prosecutorial magistrates. The Algerian government does not have a policy that requires private companies to establish internal codes of conduct that prohibit bribery of public officials.

The use of internal controls against bribery of government officials varies by company, with some upholding those standards and others rumored to offer bribes. Algeria is not a participant in regional or international anti-corruption initiatives. While Algeria does not provide protections to NGOs involved in investigating corruption, there are whistleblower protections for Algerian citizens who report corruption.

Investigations into conflicts-of-interest and corruption have been opened in the last several years in several sectors, most prominently in the award of contracts for hydrocarbons development and government procurement. Isolated terrorist incidents still occasionally occur, but they are rare. There have been two major attacks on oil and gas installations in the last 10 years. In March , terrorists launched a home-made rocket attack on a gas facility in central Algeria that caused limited damage but no casualties.

In January , there was a major attack at a remote oil and gas facility near the town of In Amenas in south-east Algeria approximately 1, kilometers from Algiers in which nearly 40 people — mostly western energy sector workers, including three Americans — were killed. Other terrorist attacks claimed by ISIS include an August suicide attack in Tiaret that killed two police officers and a February attack that injured two policemen in Constantine.

The area of Irbil is The province occurs within the steppe area which has transitional climate between that of the Mediterranean and the desert climate. It is characterized for its sever cold and drop of humidity average.

Irbil is regarded as one of the historically important cities throughout ages and an important effective cultural and civilization center in Kurdistan of Iraq. Its naming refer back to the Assyrian age when it was given the name of Arba-Ilo , i. This is a metonymy of the important Assyrian temples at Irbil. Irbil is the capital of Kurdistan Reign and a commercial center.

It has a land strategic line which links it to Iran and the border center of Choman for commercial exchange. The province has three round streets, street 60, street 90, and street It has Irbil International Airport as well. The Province has a number of primary and secondary schools among which is the international school of Shwaifat, and many state universities, colleges and institutes in addition to the private ones.

The Province has more than 42 hospital covering all the specializations and a number of the State central hospitals, among which are Irbil University hospital, Azadi hospital, Rezgari hospital, Central Children hospital and medical center all over the province outskirts and districts. Its history dates back to the Assyrian age, approximately the first millennium B.

It was built primarily for defensive purposes, as it was regarded immune stronghold for the city of Irbil by then. Gilli Ali Beg waterfall. This waterfall occurs between the cities of Khalifan and Soran. Its length is 12 km. It is situated between the mountains of Korek and Nouatheen, 60 km from Shaqlawa summer resort. Gilli Ali Beg waterfall descends from a high point in a high speed. It is km from the city of Irbil and it is one of the beautiful summer resorts in Irbil and in Iraq in general.

It is m above sea level. They are regarded among the most beautiful tourist sites in Iraq. The area is characterized for its humming waterfalls and its beautiful landscapes. These waterfalls are 10 km. Bikhal has been known as summer resort which has wonderful waterfalls and landscapes. The city is famous for its waterfalls and mountainous nature as it is situated on the mountain Sifeen. Its three sides are bordered by mountains. This grants the city a marvelous looking.

A streamlet coming from the Big Duhok Dam penetrates the city turning it to be one of the most beautiful sites. The Province of Duhok is famous for its fascinating landscapes. The origin of the city dates back to the Stone Age, then it became a part of the Assyrian Empire; then the Babylonians; the Achaemenids before it failed in the hands of Alexander the Great and the Romans. Province of Duhok is situated in the region of Kurdistan, extremely to the north west of Iraq.

This province enjoys a special importance from the historical and geographical stand of view. The ruins and sculptures which were discovered in its hills and caves depict this importance. Moreover it has a distinctive geographical situation as it occurs on the borders between two states, and an international strategic transport way passes through it to link Iraq to Turkey and the external World as well.

In addition, oil line which passes from Kirkuk to Turkey penetrates its north western corner. The province of Duhok is characterized by its various land shape, including the high mountains which shape the political borders of Turkey, and wide plains which are rich in their agricultural resources. These shape the southern part of the province. Province of Duhok is an important commercial center. The province has a strategic road links it to Turkey. Province of Duhok has 19 hospitals inside the province and medical center all over its outskirts and districts.

This is km from Mosul. It is 1. This is km from Mosul through a paved way, 5 km from Imadiah. It has many marvelous waterfalls as high as 25 m. The summer resort is characterized by its numerous caves most important of which is Safi cave shaded by nut trees.

This is a four columned cave at the valley of Duhok. Some historical references and some historians who visited the area confirm that it is one of the most ancient caves in which man had lived. Historians confirm that Jarsteen cave dates back to the middle ages with its most ancient documents dates back to There is also the hill of Bastik and of Kammoun which date back to the history of the Kurdish Metanic State, in addition to the hill of Malta, the cave of Hilamta at Shandoukha, southward the province center which dates back to the ages of the Kurdish medians.

Still, there are many other caves and antiques sculptured on stones and many other ancient sites. Province of Sulaimaniyah is a border province which has a commercial relation with Iran and has Sulaimaniyah International Airport. Education in Sulaimaniyah, just like in other places in Iraq, is free starting from primary school till university graduation.

Sulaimaniyah has more than primary school; secondary school; more than 15 vocational institutes and the University of Sulaimaniyah which was established in using Arabic and English languages in teaching. It was transferred to Irbil under the name of Saladin University and the new University of Sulaimaniyah has been inaugurated in which teaches in Arabic, English and Kurdish as well.

It teaches in English and includes 6 private Colleges. Province of Sulaimaniyah has 50 hospital and medical centers all over its outskirts and districts. Tourist Sites. Serchenar summer resort is 5 km away from the center of Sulaimaniyah city. It is rich in trees, lot of water, and wide shaded areas.

This summer resort has the hotel of Serchenar in addition to many tourist houses, a number of hotels and coffee shops prepared to receive tourists and provide them with services. There are also Luna parks and big entertainment gardens. This lake is 71 km from the center of the province of Sulaimaniyah, km from the city of Kirkuk. It has been established near the Dam of Dokan on the Minor Zab.

For the ease of tourist, an integrated vast tourist complex, game hall, coffee shops, and a modern market have been established to help people get their food. There are playing areas for adults and children, a pool, and boats marina too. These are 75 km to the east of Sulaimaniyah, parallelizing the Iranian borders. This spot is regarded as a border point between Iraq and Iran, as the distance from there to the Iranian borders is only half an hour by car.

The area is 2. The summer resort is situated amidst high mountain series. It is regarded as one of the most important sites in the city. Main activities. Economy at a Glance. Industrial raw materials are available at Anbar Province which can be extracted through mine methods like that of natural gas and oil in Ukaz gas field westward Anbar which reserves is estimated to be 50 b.

Anbar has approximately 53 Trillion cubic feet of natural gas in addition to the natural mineral fortunes, such as gold, phosphate, iron, uranium, sulfur, and silver. There are water resources embodied in the River Euphrates which runs km , from the western north to the eastern south of the Province.

In addition, there are four big water surfaces, the lakes of Habbaniyah, lake of dam of Hadeethah, lake of Thirthar, and Razaza Lake. There are reservoirs of groundwater suitable for irrigation in the western desert and arable fertile soil. There is only one railway in the province. This railway is used to carry passengers and goods. Anbar has 24 station for passengers and 5 for goods. Lake of Thirthar : One of the most beautiful artificial lakes in Iraq. It was formed after Dam of Samara was built for irrigation purposes and to control floods of the Rivers Tigris and Euphrates.

The lake can be attained at from Baghdad via Faluja and Ramadi, or via Samara. Lake of Habbaniyah : This is a pan located to the south of the city of Ramadi, used to store 3. The lake is controlled by the Dam of Ramadi. The lake is linked southward to a river which connects it to the lake of Thirthar to drain the surplus water from Habbaniyah Lake to the Lake of Razaza whose capacity is 26 b.

A resort has been established on the banks of this lake. Province of Wasit situates in the southern part of the middle area, The province center is the city of Kut, km to the south of Baghdad, bordered by the Province of Diyala and Baghdad to the north and Maisan Province km and Thi Qar km both to the south, Babylon is km to the west and AL Qadesiah is km to the south west.

Main Activities. The Province is famous for its Minerals and natural resources and a huge reservations of oil such as, the oil fields of Ahdab at Ahrar District and Badrah field and reservations of natural gas linked to the oil reservations. Raw materials for construction industries, such as cement, gypsum, brick, etc. The province is distinguished by its agricultural lands and producing a high quality of the strategically grown plants such as wheat, barley, corn, cotton, sunflower, and many dates, vegetables and fruits production where The River Tigris go through it from north to south in a km length in addition to Al Garaf, Al Deejail and Al Kalall rivers and underground waters.

Al Zobaidiah station is considered as a large electrical project in the country, it includes six generating units, four of them is of MW per unit, and two of them are of MW overall power. The Province has only one University, private collages and institutions, primary school; 44 kindergartens and secondary school.

In Wasit there is a net of main roads that link it with the Capital Baghdad and other province s such as Thi Qar , Maisan and Babylon in addition to the main road that connects the province with the borderline with The Islamic Republic of Iran through Badra Border Port. The province has many ancient and historical sites in addition to the religious sites dispersed in different locations of the province. The city is located to the south east of Wasit and it goes back to 83 H, the gate of the city is one of the noticeable sites till this day which is thought to be the remains of the sand school in Wasit City.

Saeed Ibn Al Jabeir Shrine :. The shrine is located in Taj Al Dein District to the north of Wasit province around km far from the center of the city and it is considered as a source of attraction to many visitors and tourists which empowers the tourism in the country. The shrine is located in Al Numaniya District in Wasit in which Al Mutanabi poetical festival is held annually with the present of many known Arab and Iraqi writers and critics. Historical Background Province of Babylon had been known as the Capital of the Babylonians during the rule of Hammurabi where the Babylonians ruled over Mesopotamia.

The first dynasty of the Babylonians, ruled by Hammurabi B. This Province is one of the main areas known for their agricultural production and it is rich in historical sites. Its center is Hilla. The Province has many investment opportunities among which are the religious, archeological and cultural tourism, cattle, and agricultural ones. Babylon has the area of 5. However, there is also an industrial activity as another field, among which is the State Company for Automobile Manufacturing at Alexandria which produces vehicle bodies and assembles automobiles, in addition to other number of operating companies such as the State Company for Mechanical Industries and Hilla textile factory, Al Forat State Co.

The Province is situated directly southwards Baghdad; therefore it has many roads which link it to the capital and other areas in Iraq. The Basra —Baghdad highway road passes through the Province. The Province has two Universities Babylon University and Al-Khadraa University , technical college and institute and a number of private collages, more than , primary school; 46 kindergartens, more than secondary school, 5 Teachers Qualifying Institutes and a number of vocational Institutes.

Babylon historical site : This is situated 5 km to the north of the city of Hilla. It had been the most famous city in the ancient and modern worlds and the miracle of the ancient world, particularly after its widest expansion by the Babylonian famous King Nebuchadnezzar B. It became famous to such a degree that it turned to be the title of Mesopotamia civilization as a whole, Babylonia was the name. Burs :. Burs is situated almost 15 km southwards the city of Hilla.

Its scaled tower is a high mark on the Hilla- Kifl road. This is situated 13 km away from the city of Hilla, 6 km eastwards of Babylonian historical site. Historical Background The city history dates back to the Babylonian era. Some historians see that the word Karbala means qurb Alilah: near God , a Babylonian origin word.

It is said that the word has been chiseled from Kur Babil: a number of Babylonian villages. The Province has soft pure land surrounded by dense orchards irrigated by the River Euphrates. Province of Karbala is situated on the right bank of River Euphrates, surrounded by important agricultural areas on three sides, particularly, the eastern side which occurs between the city and the River Euphrates.

The city is km to the western south of Baghdad, bordered from the north by the Province of Anbar; from the south by the Province of Najaf; from the east by the Province of Babylon; and from the west by the desert of Sham and the Saudi Arabia lands. There are two main roads pass through Karbala, the first starts from southern Baghdad, passes through Karbala, and continues to Najaf.

Karbala is one of the ancient Iraqi cities. Among the most historical sites at the Province are the following:. Akhaidhir stronghold : This feature is one of the defensive archeological buildings. It is one of the characteristic Islamic military architecture regarding design and geometry, not only in Iraq, but also on the level of the Arab and Islamic World.

The stronghold occurs on a desert way links Iraq to the external world. The Lake is 60 km in length 30 km in width. This wide beautiful lake is an important tourist site visited by people who are eager to practice various kinds of water sports and fishing. It is a historical spot as it has ancient civilization ruins.

Ain Tamr district is regarded the largest oasis in the western upland, It is famous for its palm tree forests and orchards. It is characterized for its landscapes, beautiful atmosphere during spring and autumn seasons. It is also famous for its mineral water which flow from more than fifty natural springs. A tourist complex composed of 20 tourist apartments, a hotel, and a restaurant, in addition to extended gardens was established in the area.

Historical Background Najaf is a historical city. It represents an important cultural, religious, commercial, and agricultural center at the center of Iraq. It receives millions of visitors from all over the world.

Najaf is one of the Provinces which occurs in the middle of south Iraq, at the edge of the western upland, km from Baghdad. The city is 70m above sea level. It is bordered from the north by the Province of Karbala, almost 80 km away. It is one of the most important sites for religious tourism.

Its attended by almost 40 million visitors a year. It occurs on the old Hajj route within a low area, almost 30 km from the village of Rahba. It was built from rocks and gypsum. Agriculture and availability of water resources played a major role in the Sumerian settlement at these spots and the foundation of a civilization, the monuments of which are still there up to now. The area, including its vast desert, is characterized by agriculture and the many palaces and temples. Muthanna province is located in the south part of Iraq, at the edges of the alluvial plain.

The majority of its areas height varies between m above the sea level. The River Euphrates and its branches pass through it. It is the second water resource for agricultural crops irrigation. The Province is km from Baghdad to the south.

It is the second biggest Province , after Anbar, regarding its area. It has a desert climate, and its center is Samawa District and the province has administrative boundaries with Al-Najaf and Al-Diwaniyha from the North, Basra and Dhi Qar from the east, Saudi Arabia from the west and part from Basra and Kuwait country from the south.

The area of the Province of Muthanna is The desert occupies Sawah Lake Main activities. Akad Historical City Economy at a Glance. The Province is characterized by the availability of the natural and human resources for investment, especially in the industrial sector. Muthanna province is rich with raw materials of the low cost in extraction and production, such as, limestone which is used in cement industry, sedimentary compounds of Sodium and Chlorine as salty compounds used in salt production.

The Province is also characterized by lots of date palm orchards and its distinctive tourist site being near the Lake of Sawa and some tourist facilities. Lake of Sawa : a closed salty lake located at the Province of Muthanna, southern Iraq, and few kilometers from the city of Samawa. The Lake is surrounded by a natural limestone wall which quickly repairs itself if broken due to fast hardening character of the limestone material in the water. Historical Background It is one of the middle Euphrates Provinces that lies within the alluvial plain of Iraq.

The name of the city first appeared during the eighteenth century. Diwaniyah is characterized by the fertile lands which qualifies it to be the food basket for the people at the area in specific, and for Iraq, in general. It is characterized by agriculture, such as rice, and other agricultural crops. There is a main road starts from Baghdad to Diwaniyah and a multi- track highway passes through the Province. The main Iraqi railway passes through the Province as well.

Province of Diwaniyah has 9 hospitals and more than 71 medical center. Its center is the city of Nasiriyah. Historical evidence indicates that this name exists from old ages. Some historical sites, such as, the ancient city of Ur, 5.

It is the land where the Sumerians and Acadians settled. The Province of Thi Qar is located at the heart of the southern part of Iraq. The best part of the area of the Province is situated next to the Rivers of Euphrates and Gharraf. The Province is one of the most ancient lands settled by human being and established the first human civilization and there still lays the ancient archeological monuments of cities such as Ur and Lagash and else. Infrastructures: Thi Qar Province has an electric-thermal station that produces MW , there is also Al Nasyriah Gas turbine station and an Oil Refinery with a refining capacity of 30, bpd, it has a good net of roads and transportation linking it to the neighboring provinces as there are many land roads.

These are:. The Province is also penetrated by the railway which links Basra to the capital, Baghdad. Historical Background It is one of the southern Provinces of Iraq. It is located to the east of the country, on the Iranian borders.

Its center is the city of Imarah. It is located on the River Tigris. It had been known, before as Imarah Province. Its distinctive location formed a core for an important city and commercial center and had been adopted by Alexander the Great as a capital for his kingdom. The province is located in the southern eastern part of Iraq, on the banks of the river Tigris. It is almost km away from Baghdad. It represents a commercial center for agricultural crops, fish, and cattle. An oil pipeline passes through the eastern part of the province and extends down to Basra and Fao southward.

Population : The population of the Province is 1,, person. In Maysan, there are 6 hospitals and 80 main medical center. Historical Background Basra is the third Province in Iraq regarding population and considered as the economic capital of Iraq, its only port overlooking the Arab Gulf and its main sea outlet. Basra is situated at the extreme south of Iraq, on the western bank of Shatt Al-Arab, the watercourse which results from Rivers Tigris and Euphrates meeting at Qurna, km northward of Fao.

Basra is almost 55 km from the Arab Gulf, km from Baghdad. Local borders of Basra are with the provinces of Thi Qar and Maysan to the north and Muthanna to the west. Basra is the only port of Iraq and its main sea outlet. From a geographical view, it occurs at the southern eastern corner of Iraq. This location has its impact in putting the province within the huge desert extension in the continents of Asia and Africa which consequently results in its overwhelming dry climate.

Basra, within its geographical location, is linked to the other provinces of Iraq through paved roads which lengths vary according to being near to, or far from it. Population : Approximately 2,, person. Main cities:. Due to its location in the plains of Al Rafidain valley, it is considered as one of the best locations for planting rice, barley, wheat, and millet.

It is also famous for cattle breading. The province occurs on varying terrain land includes plains, upland, and desert and is also considered as a tourists Province for having many religious shrines and historical sites. Province of Basra has all the six Iraqi ports, including the deep port.

Thus it is the transportation cross point of the southern part of Iraq. There is also a highway linking the Hashemite kingdom of Jordan to Iraq which starts from the Jordanian borders and ends in Basra. The province is also linked to the State of Kuwait via Safwan border crossing point, a main commercial outlet.

In addition to these, there is Basra International Airport too. Sindibad Island. It is linked to both river banks via Sindibad Bridge. It has wonderful gardens decorated with beautiful fountains. There are facilities for visitor comfort, a tourist coffee shop, and tourist houses for residence, in addition to the floating hotel near the Island, and a vast coffee shop at the southern end of the Island.

It is the city of the late great poet Badr Shakir Al-Sayyab, it is also the center of date palm forests which are unique for their beautiful landscapes. The National Investment Commission has started a program to prepare mechanism and a system to establish secured zones for investment according to the text of Article 9 of the ratified amended Investment Law no.

A draft of the general principles for the feasibility study related to the experimental investment zone at the province of Babylon has been prepared and a draft of investment protection assessment for the sake of investors in Iraq has also been prepared. The program attracted a number of advisors, lawyers, financial experts and investors to contribute with their opinions and expertise so as to specify the conditions and situations which ensure the great advantage of investment.

The following Zones are in the phase of concluding requirements in order to be prepared and announced as safe investment zones :. Iraq is blessed with vast reservesof oil and natural gas, and is one of the most promising, still largely undeveloped sources of hydrocarbon resources in the world, after decades of lack of investments due to wars and sanctions.

Iraq is actively seeking international investment and expertise to help in the development of its oil and gas sectors so negotiation rounds started and led Iraq for a new marsh in investment history. The Ministry of Oil announced new ambitious plan to increase oil production and exports during this decade depending on foreign investment as a main source to achieve this goal.

The main way for investors interested in oil and gas sector is in oil bidding rounds announced by the ministry. Iraq has signed contracts in and with international companies to develop its oil fields within the first and second biddings rounds and to increase the production level to reach 11 million bpd in the next six years and to 12 million bpd upon adding the quantities resulted from other fields by national efforts.

Most of these contracts focused on developing major oil fields in south of Iraq, in addition to that the third bidding round announcement was released to develop three gas fields which are Ukaz in Ramdi Province, Mansouriyah in Diyala Province and Seebah in Basra Province. On the other side, it is more likely that the oil and gas industry will continue to attract foreign business activities in the near future and that Iraq has a wide range.

Source: Iraqi MoO according to letter no: in Mar. Iraq has a wide pipeline infrastructure total of mile. There are three main pipelines that connect Iraq to Saudi Arabia, Turkey, Syria in addition to the forth one the Strategic line that starts from Basra in the south to Kirkuk in the north. This line exports three quarters of daily production from Basra oil port in the south and the rest from the north pipeline from Kirkuk to Jihan port in Turkey.

As Iraq is developing its infrastructure at the present time, and heading towards expanding its productive operations in oil field, and to attract investments in production, distribution and export fields for oil sector in order to improve the current situation of oil sector as well as it will help to attract investments in other fields such as export pipelines particularly in Basra Port, and the export pipelines from Kirkuk Province to Jihan Turkish Port.

There is a wide range of needs in the south of Iraq which includes the need to establish a new pipeline to link the resources extracted from oil wells to refineries and to establish storage facilities in addition to expanding the ports.

A number of studies were conducted to develop infrastructure which would enable Iraq to gain its position as a source for natural gas and this requires constructing an expanded infrastructure for gas sector in order to enable Iraq to supply the gas pipelines heading to Turkey and therefore it will supply major European markets. Investment Opportunities in the Oil and Gas Sector. Ministry of Oil announced an ambitious plan to increase oil production and exports in the following years.

Participation and direct investments are principal means for achieving this goal through oil licenses rounds announced by the Ministry. Electricity sector in Iraq presents a number of attractive investment opportunities to local and foreign investors. The demand has grown furiously mainly by the essential consumer of electricity, families, in the recent years. Since the national power grid does not meet the local needs of the Iraqi families, they are forced to pay large amounts of money to be provided with electricity from the private sector.

The communication sector wired and wireless has witnessed substantial growth in Foreign Direct Investment FDI attraction in the recent years especially in the mobile phones and internet technologies which can be highly attributed to the existence of an independent organizing agency and the renewable opening up to the foreign companies.

One of the most important development points in the communication sector in Iraq was developing the local wired. Wireless networks have been capable of changing the land line phones market in Iraq as these are providing both of this old service alongside with the internet service without having to use cables through the populated neighborhoods of the city. Government of Iraq contracted in with different companies from the private sector to provide the wired communication networks which provide the services of voice and data transmission.

Communication and Media Commission also granted in the same year three national licenses and three regional ones for providing local wireless communication services, national licenses may last for 10 years that can be extended for 5 more years while regional licenses can last for only 8 years.

In addition to that, the market remained open to the foreign companies to increase the national competition and prices comparison, as there are more than 3 main operating companies in the mobile fields in the country. The communication sector is considered as one of the successful sectors in the period following the year With better security situation, better laws and fully free market, the climate will be more suitable to attract more local and foreign investments.

Mobile Phones : in addition to the three national mobile phone licenses, the Ministry of Communication intends issuing a fourth license to open the door for all specialized companies in mobile phone services. Internet System : due to recent developments in the field of communication services, Iraq needs to improve its internet infrastructure. Therefore, investors have an opportunity to establish projects that provide internet services. Stationary Line Phone and Fibers : the investment opportunities in this field cover fixing and expanding the existing network, and supplying and establishing new phone stations, as well as large improvements in fiber optic net.

Local Wireless Stationary Ring : Investment in this field offers big advantages in Iraq through WLL which provides the ability to supply wireless services without the need to build a large network. During the s and 80s of the last decade, the Republic of Iraq was considered as one of the leading nations in healthcare in the Middle East and North Africa.

Sanctions imposed on Iraq in the s led to deterioration in the healthcare system. Today the Iraqi government works on changing the healthcare system to make a better one through investment in teaching, training and infrastructure. The government is committed to return the healthcare system to a better quality than before by increasing the health care budget, which indicates a fundamental change in the government priorities in this vital sector.

There are hospital and healthcare clinic located in the provinces and tens of thousands private medical clinics. Health indicators are of great importance to growth, standard of living and human capacity building. It is well known that the health status of the people in any country is considered as a main factor in the economical growth of the country. In Iraq, the Ministry of Health is in charge of determining the health level within a large system of hospitals and different medical clinics in addition to the private health sector represented by private hospitals and private medical clinics.

Economically speaking, housing is a very vital sector for the important roles it plays in the formation of the fixed capital, generating incomes and creating job opportunities and through the connection with other activities. Many countries which enjoy financial surpluses go to maximizing the role of this sector, in other words considering it as a producing sector.

The Government of Iraq granted the private sector and the foreign investor the enabled role that may achieve touchable results in the housing production field by providing the lands suitable for housing purposes.

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