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S. Korean Ambassador Discusses Cooperation

The Iraqi Industry minister has received the South Korean ambassador to Iraq, and discussed with him methods of cooperation at different industrial levels. “The minister stressed that his ministry will employ all methods that support South Korean companies working in Iraq,” the Iraqi Industry Ministry said in a statement on Tuesday as received by Aswat […]

Hashimi Says Iraq Bids for Investments

While addressing the Conference on Interaction and Confidence building measures in Asia (CICA) held in Istanbul, Iraq Deputy President Tarek Al Hashimi said that Iraq has made progress in its journey towards building a prosperous economy through enticing foreign investments. Hashimi stressed the role of Asian companies in the oil and gas sector. The Deputy […]

First Int’l Economic Conference in Ninewa

The first international economic conference will be held in Ninewa on June 24, which will cover construction, trade, energy, agriculture and information fields, the Ninewa governor said on Tuesday. “Preparations are underway to hold the five-day conference in Ninewa next June 24,” Atheel al-Najiefi told Aswat al-Iraq news agency. The conference will be organized by […]

CBI Dollar Sales Up to $182m

The Central Bank of Iraq (CBI) dollar sales went up to reach $182.444 million in its daily auction Tuesday, compared to $82.740 million in the previous session. “The demand hit $4.690 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $177.754 million in foreign transfers outside the country, covered […]

Turkish Consul Says to Increase Investments in Basra

The volume of Turkish investments in Basra is so big and we will increase the number of Turkish companies working in the city to 1000 next year, Turkish consul said on Monday. “Our main goal is to increase the number of Turkish companies working in Basra,” Ali Reda said during the inauguration of a fair […]

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Investment Funds Start to Target Iraq

The business community in Iraq, and internationally, is focused on the task of rehabilitating the oilfields and re-building the country. This is hardly a surprise; quite apart from the investments to be undertaken directly by the oil companies, Iraq’s National Development Plan foresees over $200 billion in investment in services, economic stimulus and environmental protection […]

A Perfect Storm for Iraqi Stocks

By Mark A. DeWeaver, of Quantrarian Asia Hedge Two good rules for emerging stock market investors have always been: (1) buy crises and (2) buy export booms.  The first would have worked well in Sri Lanka in the weeks following the Tamil Tiger suicide attack on the country’s main airport in July, 2001.  Had you […]

Iraqi Elections: New Shia Coalition Announced

The two biggest Shia political groups have announced they are to form a coalition. Incumbent Prime Minister Nouri Maliki’s State of Law, and the Iraqi National Alliance, would together be just four seats short of a majority. The difficult question of who would be Prime Minister is still to be decided. The announcement comes as […]

Iraqi Airways Plane Impounded in London

(Sources: The Telegraph, AFP, Bloomberg) Tensions between Iraq and Kuwait were raised last week when the first Iraqi Airways flight from Baghdad to London for 20 years was impounded at London’s Gatwick Airport. The dispute dates back to the Iraqi invasion of Kuwait in 1990, during which 10 Bombardier jets belonging to Kuwait Airways were […]

Iraq Announces New Gas Tenders

(Source:  Petroleumworld.com) Iraq Prepares New Gas Field Licensing, Cuts Oilfield Signatory Bonuses Retroactively Iraq’s Oil Ministry has released plans to tender three gas fields—previously part of the first and second licensing rounds—to 15 invited companies and has named Shell, Total, and KOGAS as frontrunners, while also confirming that signatory bonuses for the renegotiated West Qurna-1 […]

Final Election Tally

The full election results have been announced – according to Bloomberg, the seat tally is as follows: Former Iraqi Prime Minister Ayad Allawi’s Iraqiya alliance secured 91 seats; Prime Minister Nuri Al-Maliki’s State of Law alliance won 89 seats; Iraqi National Alliance, led by pro-Iranian Shiite cleric Ammar al-Hakim, came in third with 70 seats; […]