Erbil Shows Baghdad Path Out of Political Impasse

By Eugen Iladi. The opinions expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News. The inability of Iraqi political elites to form a government more than six months after the March elections is hardly surprising given the fragmented poll results and deep divisions separating top leaders. […]

$25m More for Diyala Road Upgrade

The Iraqi Council of Ministers has decided to increase the amount allocated to develope the Khaliss-Idhaim road by ID31 billion [$25.8m], bringing the total cost of ID40 billion [$33.3m], accordign to Aswat al-Iraq. “This road is both important and strategic because it links the mid and northern provinces of Iraq,” Dr. Ali al-Dabbagh (pictured), the […]

Redenomination an unlikely priority for the CBI

Earlier this month it was reported that the Central Bank of Iraq (CBI) might redenominate the Iraqi dinar after the new government is formed, exchanging one new dinar for 1,000 old. (For more on this story, see http://www.iraq-businessnews.com/2010/09/14/central-bank-wants-to-drop-zeros-from-iraqi-dinar/.) While such a redenomination would obviously help to simplify transactions and record keeping, it is not clear […]

Najaf’s Urban Renewal is Underway

The Iraqi Minister of Municipalities, Riad Ghareeb, and the governor of Najaf, Adnan Al-Zurfi, have announced the start of the urban renewal project of the old city. Riad Ghareeb told Aknews during his meeting with al-Zurfi and some members of the executing company, “the renewal project for the old city center of Najaf has been […]

Egyptian Firms Claim Under Iraq Oil-for-Food Program

Egyptian private- and public-sector officials have criticized the Foreign Ministry’s seeming disregard for demands by the Trade Ministry’s Trade Representation Agency for US$1.1billion in compensation to be paid out to Egyptian companies and workers in Iraq as part of the UN’s longstanding Oil-for-Food Program, according to a report in Al-Masry Al-Youm. Egyptian companies operating in […]

Privatisation is the Way Forward

An Iraqi economic expert said on Thursday that the Iraqi government should embark on a privatization program to improve the state of industry in the country. Fadhel Al-Moussawi told AKnews, “The Iraqi government has not been successful in improving the country’s industrial conditions in the past several years due to the reluctance and lack of […]

Designs Completed for Airport in Maysan

A group of Swiss and Russian firms have completed the designs of a civil airport in Amara city, Maysan province, according to a report in Aswat al-Iraq. “The airport will be like others constructed by the group in Kazakhstan, Brazil, and Libya,” a source from the group told Aswat al-Iraq news agency on Thursday. He […]

New Problem on Ceyhan Pipeline – Oil Flow Reduced

Iraq’s crude oil exports through Turkey “suddenly” dropped by about 20 percent due to a technical fault on the Iraqi side of the border, according to an official for the state-run North Oil Co, as reported by Bloomberg. “The flow suddenly dropped from the usual level of 600,000 barrels a day to between 400,000 and […]

Oil Pipeline Re-Opened from Nasiriya to Kut

The oil pipeline from the south oil reservoirs in Nasiriya to the reservoir at Kut has been re-opened, according to a report from the National Iraqi News Agency. Head of Wassit Provincial Council, Mahmoud Abdul-Ridha Talal, told (NINA): “The re-operation of the oil pipeline carrying oil between the two provinces will solve the serious and […]

Gulf Keystone Directors Sell Shares

Gulf Keystone Petroleum Limited (AIM: GKP) has announced that it received notification that on 23 September 2010 Lord Peter Truscott, a non-executive director of the Company, and his wife sold 33,000 common shares at an average price of £1.44 per share. Following this sale Lord and Lady Truscott are interested in 500,333 common shares representing […]