The National Investment Commission (NIC) has just announced a string of new tenders to build "central malls, warehouses and free markets in addition to constructing residential buildings" throughout Iraq. Click here to see the full table of projects. Please submit application forms to either the National Investment Commission directly or by e-mail to [email protected] before […]
Archive | 2010
125 Companies Bidding to Build 1 Million Houses in Iraq
The Chairman of the National Investment Commission, Dr. Sami Al- Araji, announced that 125 companies of various nationalities have submitted offers to implement the 'One Million Housing Units' project [National Housing Project] throughout Iraq, and says that 35 companies from that list will be chosen. Dr. Araji explained that the project will be built on […]
Iraq Banks Told to Raise $7 Billion
The Central Bank of Iraq has instructed private banks to raise at least $7 billion in fresh capital over the next three years to be able to handle an expected oil-fueled construction boom, according to the Wall Street Journal. Ahmed Ibraihi, Vice Governor of the Central Bank of Iraq, told the newspaper on Wednesday that […]
Tags: Ahli Bank, banking, Central Bank of Iraq News | CBI Iraq, HSBC, Kuwait National Bank, Mark DeWeaver, Rafidain Bank, Rasheed, Trade Bank of Iraq
Iraq to Secure Japan's Energy Needs
Iraq is aiming to become a major oil and gas supplier to Japan, Baghdad's oil minister, Hussein al-Shahristani, said on Wednesday after a meeting with Japanese officials. The Minister also said that Japan offered economic aid in the form of loans and investments to help build Iraq's infrastructure. The statement was released following a meeting […]
Tags: Japan
Karbala Council Rejects New Electricity Tariffs
Karbala Council has issued an appeal to its citizens not to pay the new domestic electricity tariffs introduced by the Ministry of Electricity this month, according to AKnews. The head of Karbala’s energy and fuel commission, Zuhair Samil al-Da’mi, told the agency that the ministry’s ten-fold increase was “completely unfair” in the light of the […]
Taylor-DeJongh and Phoenix Capital Launch New Iraqi Financial Services Firm
Taylor-DeJongh, a leading energy and infrastructure investment banking firm, and Phoenix Capital LLC, a Baghdad-based investment bank, announced on Wednesday that they have entered into a strategic partnership to create the first Washington-Baghdad financial services firm. The partnership will provide specialist industry knowledge and financial expertise to both international and Iraqi public and private sector […]
Weekly Security Update for 27th Oct 2010
National Overview The national total number of officially reported hostile incidents increased slightly from 116 to 119. Although the Baghdad region accounted for most of hostile incidents it was for a smaller number than the three previous weeks. The modus operandi of assassinations utilising under vehicle improvised explosive devices and small arms fire continued unabated. […]
Kurds Want To Manage Oil Independently
Kurdistan's Prime Minister, Barham Salih, asserted that Kurdistan has had a successful oil policy and that any prospective government must allow the region to manage its own oil autonomously, according to a report from Rudaw. Due to the policy under which the Kurdistan Regional Government (KRG) has signed dozens of contracts with foreign companies independently […]
Tags: gas, Kurdistan News
Iraq Likely to Sign Shell Gas Deal by End of 2010
Iraq is meeting with Royal Shell Dutch to finalise a draft of a $12 billion deal to develop a gas-structure project in southern Iraq, and may sign a deal by the end of this year, a senior Iraqi oil official told Dow Jones Newswires on Tuesday. "There is a meeting being held in Basra to […]
Iraq Plans 20% Higher Budget in 2011
Iraq's government will today start to discuss a $86.4 billion draft budget for next year, a 20% increase on 2010. The budget for 2011 is based on an oil price of $70 per barrel, Finance Minister Baqir Jabr al-Zubaidi [Zubeidi] told the newspaper As Sabah. Iraq's crude oil exports rose 9 percent in September to […]
Japanese Iraqi Dinar Scam
Bloomberg reports that Japanese consumers are being warned about an investment scam selling Iraqi dinar on predictions the currency will surge in value. A man in western Japan spent 2 million yen ($25,000) to buy 500,000 Iraqi dinar ($428) after a caller recommended buying the currency because it was expected to gain as much as […]
German House-Building in Karbala
German companies have offered to build 1,000 low-cost housing units in Karbala within an integrated housing neighborhood project for a total cost of $16.5 million, according to a report from Aswat al-Iraq. “A delegation representing a German consortium offered to Karbala's Governor Amal al-Din al-Hirr, and Provincial Council Chief Muhammad Hameed al-Moussawi, a project consisting […]