The Basra Investment Commission said it received on Monday a delegation from a Turkish company, ranked 150 among construction companies worldwide, to discuss a housing project in the province, according to a commission statement. Midhat Binjuin, the manager of the Turkish company, said “Our company has constructed many of the important projects in the Middle […]
The investment commission in Basra has revealed a project to build 552 housing units in Basra’s Faw district, the head of the commission said on Monday. “Each unit is made up of three stories and 12 apartments of 100 square meters each,” Haydar Ali told Aswat al-Iraq news agency. A theme park project will also […]
Iraq’s central bank slashed its base rate by 100 base points to six per cent as of April 1 in reaction to subdued inflation and to boost bank lending, senior advisers at the bank said. The bank’s website said that the rate cut – the first in nine months – was effective as of April […]
The Central Bank of Iraq’s (CBI) dollar sales reached $132.874 million in its daily auction on Sunday, compared to $167.325 in the previous session. “The demand hit $7.570 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $125.304 million in foreign transfers outside the country, covered at an exchange […]
Iraq exported less crude in March than in the previous month because of faults due to poor weather, an Oil Ministry official said. “Exports were a bit less than in February because of technical reasons mainly linked to bad weather,” Falah al-Amri, head of the State Oil Marketing Organization, said by telephone today. Al-Amri declined […]
Before the United States and Britain invaded Iraq in March 2003, their oil companies were shut out of oil-production contracts being negotiated by the government of Saddam Hussein. Today, more than six years of war later, Saddam is gone, and the U.S. and British oil companies are not only in on the oil contracts, they […]
The article takes a look at the energy prospects in Iraq, whose government aims to more than double oil production in the coming five years. While security and political constraints abound, production is inching up in Iraq, and recipients of 2009 oil-servicing contracts are beginning operations. Severe infrastructure shortfalls remain, however, and the pressure to […]
Total OPEC supply rose 40,000 bpd to 29.25 mbpd, with Nigerian output jumping by more than 100,000 bpd as domestic refineries resumed production.
The construction cost of this port is of 4.3 million euros and the first stage thereof will be implemented by an Italian company. The first stage is expected to end in 3 years maximum and the development thereof is expected to last till 2028.
A team of World Bank specialists from the Middle East and North Africa (MENA) Region launched an intensive multi-sector capacity building program for Iraqi public sector officials to enhance their knowledge and skills for more effective implementation of development projects.
Samer Majali, CEO of Bahrain’s national carrier Gulf Air, has announced that the city of Suleimaniya in Iraq’s Kurdistan region will become the carrier’s second destination in the country by the end of 2010, Kurdish Globe has reported. The carrier also plans to fly to the southern port city of Basra by the end of […]
The governor of Karbala has inaugurated a river lining project in the province at a total cost of 1.6 million Iraqi dinars (ID). Work on the project took nearly 10 months, Eng. Amal al-Din al-Hir told Aswat al-Iraq news agency. The project, which has been carried out by a local company, aims to reduce the […]