10,000 Houses for West Diwaniya

The investment commission in Diwaniya has discussed with a German firm a project to build 10,000 houses in the west of the province, the commission’s head said on Sunday. “The project will be located on the Diwaniya-Shafia road (7 km west of Diwaniya),” Eng. Hakem al-Khazaie told Aswat al-Iraq news agency. “The final contracts will […]

Asiacell Launches Unique Offer for Bonus Credit

Asiacell has announced the launch of a new promotion offering 100% bonus credit to customers purchasing a new prepaid line and those recharging it during the promotion period. The promotion will be launched on the 25th of February and will be effective until March 25th 2010. This unique promotion provides new Asiacell prepaid subscribers and […]

2 More Years of Budget Shortfalls’

Iraq will likely have two more years of budget shortfalls before stronger oil prices and production lift it back into surplus in 2012, the International Monetary Fund said. In its regular review of Iraq’s economy, the IMF said Iraq’s economic growth in 2010 will probably be significantly stronger than it was last year, but the […]

Exchange Rate Reasonable

The governor of the Central Bank of Iraq (CBI) on Monday said that the current exchange rate (1,170 Iraqi dinars per dollar) is reasonable, adding that the bank has enough foreign reserves, totaling $43 billion U.S. dollars, to defend the exchange rate. “The CBI is adopting a managed floating policy of exchange rate, through which […]

New Korean Contracts – Massive Investment in Basra

Aswat al Iraq reports that The Iraqi National Investment Commission is planning to offer 750 investment projects to South Korean firms. The total value of the projects exceeds $600 billion, and includes the building of a new city. The announcement follows a visit to the country last week by a high-powered delegation of Korean businessmen […]

Ericsson Seizes Opportunities in Iraq

Internet use in Iraq has grown more than twenty-fold since 2001, and the population is keen to use the internet as a tool for communication and business. Despite this, infrastructure is weak in many areas, and the Ministry of Communications has signed contracts with many foreign companies in its efforts to improve the situation. With […]

Turkish TPIC Wins $318m Iraq Oil Contract

Reuters reports that TPIC, the foreign exploration unit of state-run Turkish Petroleum, has won a $318 million contract to drill 45 wells in Iraq’s supergiant Rumaila oilfield, near Basra. British firm BP and its Chinese partner CNPC signed a 20-year development contract last year for Rumaila, which has an estimated 17 billion barrels of crude […]

Talks on Nassiriya Oil Field Break Down

According to a variety of sources, Iraqi Oil Minister Hussein al-Shahristani has said that talks with a Japanese energy consortium over the development of the Nassiriya oil field have broken down. “The talks reached a deadlock and we aren’t going to meet again,” Abdul Mahdy al-Ameedi, head of the ministry’s petroleum Contracts and Licensing Directorate, […]

1st Stage of River Lining Project Completed in Karbala

“The minister of water resources, Dr. Abdullateef Jamal Rasheed has inaugurated the first stage of a project to line the al-Husseiniya River,” Governor Amal al-Din al-Hir told Aswat al-Iraq news agency. The cost of the first stage, which was completed within three months, is 850 million Iraqi dinars (ID), the governor noted. The estimated total […]

Baghdad Supplies Ministry of Water Resources with 17 Power-generating

The Baghdad governorate has supplied the Ministry of Water Resources, with electric power generators of different capacities. A press statement issued by the Information Office of the Governor of Baghdad says that the governorate provided the Directorate of Mesopotamia with nine power generators, (capacity 1000 kva) each, and another to the pumping station at Basmaja […]

Supplementary Budget May Be Allocated for Ration Cards

The Iraqi Ministry of Trade said that this year’s allocations for ration card items are insufficient, adding that a supplementary budget might be provided for this purpose. “A total of $2.9 billion U.S. dollars has been allocated for rations cards from the 2010 budget,” Trade Minister Safaa al-Din al-Safi told Aswat al-Iraq news agency. “A […]