Archive | 21st October 2011

Halliburton Sees Iraq Business Accelerating

US oil field services provider Halliburton is beginning to see project activity ramp up in Iraq after delays led to financial losses in the country, reports Argus News. The company commenced drilling at three rigs late in the third quarter, and expects three more to come on line by the end of the year. “We […]

Ex-CEO Charged with Iraq Billing Fraud

Reuters reports that the former head of a New Jersey-based engineering consulting firm was charged with leading a scheme to overbill the U.S. government by hundreds of millions of dollars for international reconstruction contracts, including work in Iraq and Afghanistan. Derish Wolff, former president and chief executive of Louis Berger Group Inc is reported to […]

Aggreko Sees Iraq as Important Market for Future

In its Interim Management Statement on Friday, covering the period from 1 July 2011, Aggreko plc said that it had recently signed its first sizeable contract with an industrial company in Iraq. According to Bloomberg, it will provide 40 megawatts of power in Basra. The company, a world leader in the supply of temporary power […]

Time to Revise the Iraqi Constitution?

The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. […]

Iraq Stock Market Report

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 20th October 2011). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,613 / $1,790, -2.8%. The number of weekly traded shares was 11.6bn and the weekly trading volume was ID27.8bn ($23.8mn). […]

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Al Maabar Iraq Homes Deal Still in Limbo

Abu Dhabi-based developer Al Maabar has said a $10bn deal that was announced three years ago to build thousands of homes in Iraq has not yet been finalised, The National has reported. "When you have [a] big deal like that, you need to make sure all the terms and conditions are in place," said Al […]

KRG Re-opens Representative Office in Sweden

The Kurdistan Regional Government has officially reopened its representative office in Stockholm, Sweden, and appointed Mr Herish Khola Aziz Farhan as the Representative. The decision to reopen the Kurdistan Regional Government (KRG) Stockholm Representation was made at the KRG overseas representatives’ conference in September. The Stockholm Representation will reopen to the public for international enquiries […]

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Nujayfi, Maliki, and the Seats of the Iraqiyya Breakaway Factions

The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. […]

Five "Directors" Accused of Corruption

Five unspecified "directors" are suspected of corruption in electricity contracts, the parliamentary Investigative Commission said today. According to the report from AKnews, the Committee did not say if these "directors" are employed by the government, nor did it specify what exactly the "directors" are directing, but committee member Uday Awwad said that the "directors" received […]

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