Turks Discuss Basra Housing Project

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 […]

552 Housing Units for Basra’s Faw

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 […]

Rate Cuts to Boost Lending

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 […]

Dollar Sales Drop to 132m on Sunday

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 […]

Bad Weather Drives Oil Exports Lower

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 […]

Did Big Oil Win the War in Iraq?

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 […]

Iraq’s Overly Optimistic Oil Plans

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 […]

Capacity Building for Iraqi Public Sector

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.

Gulf Air to Launch 2 New Routes to Iraq

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 […]

Karbala’s River Lining Project Opened

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 […]