The Iraq banking industry is poised to take a huge step forward as outside investors partner with established private banks and possibly create new ones through consolidation. In this latest free report from IraqiXchange, Ahmad Saleh presents a detailed analysis of the sector. Please click here to download the report.
Iraq’s gross domestic product growth is expected to rise by 9 percent in 2012, up from around 6 percent in 2011, mainly driven by an expected increase in oil production and exports, reports Al Arabiya TV. Mudher Kasim, a deputy governor of Iraq’s Central Bank, told Reuters in an interview, “it will easily jump to […]
Iraq’s oil exports were 2.088 million barrels per day in October down from 2.101 million bpd in September, according to a report from Reuters. Falah Alamri, the head of the State Oil Marketing Organization (SOMO), said exports were 1.628 million bpd from the southern oil hub of Basra and 460,000 bpd from the northern fields […]
International oilfield services company Expro has secured a contract win in the Middle East with Eni Iraq BV, lead contractor of the Zubair Consortium. The contract, providing chemical analysis laboratory work, for the Zubair field in Southern Iraq, represents Expro’s first direct contract in Iraq and is recognition of Expro’s expertise in the provision of […]
Ericsson has reiterated the vast, untapped potential of Iraq’s telecommunication market. Speaking at the sixth Iraq Telecom 2011, Ericsson’s Executive Vice President for Region Middle East, Tunç Yorulmaz highlighted how the Iraqi market is now ready to move towards implementing Mobile Broadband considering its saturated voice market, increasing GDP per capita and increasing internet usage […]
We get many enquiries at Iraq Business News relating to the future of the Iraqi dinar (IQD), for example: Will the Iraqi dinar increase in value? Will the currency be re-denominated, dropping the 'three zeros'? Is it wise to buy Iraqi dinar? Firstly, Iraq Business News is not in a position to give investment advice. […]
The United Nations Compensation Commission has made another $1,038,375,281 available to the Government of Kuwait for distribution to eight successful claimants in compensation for Iraq’s 1990 invasion. This payment leaves approximately $18 billion outstanding to six compensation awards. Successful claims are paid with funds drawn from the United Nations Compensation Fund, which is funded by […]
The Oil Projects Company (SCOP) of the Ministry of Oil , Baghdad , Iraq announces the issuance of a new pipes tender to be performed in two phases . Brief Description: Supply of Pipes (15.9) km , fittings (5960) Nos for rehabilitation of East Baghdad delivery of equipment and materials CIP (unloaded) to SCOP's stores […]
As part of its third quarter earnings results, Schlumberger has issued the following statements on its operations in Iraq: In Iraq, Wireline MSCT* mechanical sidewall coring technology has been deployed on two exploration wells. Core recovery in the tight and fractured carbonate reservoirs was 100% for each job and the cores will yield the petrophysical […]
Shares in DNO were up as much as 9.3% on Monday, their highest level since July, before closing up 2.6% at 6.57. Bloomberg says the rise is due to a group of minority shareholders reversing opposition to the planned merger with units of RAK, in exchange for meeting certain demands. The DNO Initiative, representing about […]
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. […]
By Gavin Jones, Director of Iraq Business News, and Partner at consultancy firm Upper Quartile. This article was originally published on the Emerging Economics blog. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The U.S. and Iraq have failed to reach an agreement on […]
