"Iraq is ... getting back on track and it's a country that cannot be allowed not to succeed." So said a top executive at Abu Dhabi-owned asset management firm Invest AD said on Monday. Speaking at the Reuters Middle East Investment Summit, Mohammed al Hashemi said Invest AD was still putting its Iraqi portfolio together, […]
The Arab Advisors Group analyzed the ADSL rates in nineteen Arab countries. Iraq and Lebanon have the highest ADSL fees, while Morocco and Egypt have the lowest fees. When rates are analyzed in relation to GDP per capita in each country, the GCC countries and Morocco lead the pack. ADSL remains the prevailing Internet broadband technology in […]
Iraq Mega Projects 2010 is Pleased to Announce the Representation of All Contract Winners in Istanbul Since the Second Oil Licensing Rounds Now that the contracts have been awarded, Iraq Mega Projects 2010 Conference & Exhibition, taking place in Istanbul, Turkey, on 26-28 October, will fully examine how to fulfil the projects and unleash their […]
The Wassit Investment Commission (WIC) has granted an investment licence in the health sector worth more than 6 billion dinars [$5m], chairman of the WIC said on Tuesday. “The licence was given to an Iraqi investor to establish a hospital in Kut, which will include 100 beds and five surgery rooms with modern equipment,” Sadeq […]
A Romanian company has received initial approvals to implement a residential project in Basra, according to an official from the Basra Investment Commission (BIC). “The BIC granted its initial approval to a Romanian company to carry out a residential project, which will include 6200 units in al-Kazieza region, northern Basra,” the source told Aswat al-Iraq […]
Iraq's developing situation continues to astound me when I contrast it with much of the west. Take the UK, where Prime Minister David Cameron has on 20 October announced £81bn ($127bn) of cuts from total government expenditure of £661bn ($1,040bn), the largest budget cuts in decades by a large margin. All this it needs to […]
...and it looks like it is going to get it. Iraq has lofty investment targets for the next five years. Sami al-Araji, chairman of Iraq's National Investment Commission, told Reuters: "We'd like to go ahead and shoot for $600 billion. We hope of course we can realize it, but we will be very happy if we […]
Iraq's oil pipelines are decades past their use-by-date. “We are afraid of anything happening to them,” said Deputy Oil Minister Ahmad Shamma, according to Iraq Oil Report. US concerns for the ageing infrastructure were pushed as early as 2008, but now billions of dollars are being invested to create new pipelines to protect Iraqi oil […]
Kurdistan's sixth international trade fair in Erbil opened on Monday with 850 companies from 25 countries. Hundreds of companies are at the fair for the first time. Albert Awun of EFB Arak, which organised the fair, told AKnews: "The percentage of the participating new companies in the exhibition compared to last year is about 50%, while the […]
The Iraq Central Bank said that the survival of a high oil price will double Iraq GDP, helping it to achieve its goals by improving the value of the dinar through economic growth. Speaking to IKHNews, adviser of the Central Bank, Mudhir Saleh, predicted the survival of oil prices in the $80-$85 range, which will double […]
The strategies on Iraq of neighbouring states seem to be coming clearer. This week, al-Maliki has been in Iran to meet both Mahmoud Ahmadinejad, the Iranian president, and Ayatollah Ali Khamenei, the Iranian head of state. Al-Maliki described the two countries' relationship as "strategic", saying: "We ask Iran and our neighbours to support our reconstruction and to boost economic […]
The city of Karbala in central Iraq has stretched its 90bn-dinar budget ($75m) to hundreds of investment projects and has now been granted another 12bn dinars ($10m) by Iraq's Finance Ministry. As our blogger Stewart Blair wrote this month: "UAE property developers/investors have been active in the south where mixed use developments in Karbala are springing up […]
