Archive | 11th July 2012

Afren Takeover Speculation

By John Lee. Shares in Afren, the U.K.-based oil and gas company with operations in Iraqi Kurdistan, gave up some of their recent gains on Wednesday, but were still nearly 10% up on Monday's intra-day low on speculation of a takeover offer. According to This is Money, rumours were rife that Italy's ENI, and Exxon […]

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Trade Bank of Iraq issues Visa Gold Card

By John Lee. The Trade Bank of Iraq (TBI) has issued a Visa Debit Gold Card for dollar-denominated accounts currency, according to a statement from the bank, reported by AKnews. The statement quoted director general of the bank, Hamdiya al-Jaff [Hamdiya Al-Jaf, Hamida al-Jaf], as saying: "The issuance of such cards encourage citizens to deal […]

UK Foreign Sec, Iraqi Foreign Min, Meet in London

By John Lee. UK Foreign Secretary William Hague met Iraqi Foreign Minister Hoshyar Zebari in London on 10 July. After the meeting they issued the following statement: Following yesterday’s re-opening of the Iraqi embassy in London which marks another important step in Iraq’s re-emergence on to the international stage; we reinforced today our commitment to […]

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IWPR Iraq Boosts Women's Media Skills

By Farah Ali. This article was originally published by the Institute for War and Peace Reporting, iwpr.net, and it is reproduced by Iraq Business News with permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News Fourteen Iraqi women have undergone specialised IWPR training in […]

Minister Zebari Re-Opens Iraqi Embassy to London

By John Lee. Iraq's Foreign Minister Hoshiar Zebari has re-opened the Iraqi Embassy in London on Tuesday following renovations. He raised the Iraqi flag and cut the ribbon at a ceremony accompanied by Alistair Burt, Parliamentary Under Secretary of State at the Foreign and Commonwealth Office, Minister of State for British Near Eastern Affairs, Baroness Emma […]

Oil Search Ltd Suspends Operations in Kurdistan

By John Lee. The Australian-based company Oil Search Limited has reportedly suspended its activities in Iraqi Kurdistan due to an armed attack on the company’s work base in the Nawjul District in Kfri. According to the report from AKnews, the Director of the district, Wahab Ahmed, confirmed the incident and denied that it was linked […]

BMNS Soars as Trading Restarts

By Mark DeWeaver. Original shares of Al Mansour Bank (BMNS) resumed trading on July 1 following the announcement of the bank’s capital increase and dividend plan. All shareholders will receive a 51% bonus share issue along with an IQD 0.068 / share dividend. Qatar National Bank (QNB) is also buying 85 bn new shares at […]

"No Appropriate Time" to Delete Zeros from Iraqi Dinar

By John Lee. MP Abdul Hussein Raisan, of the Ahrar bloc, has said that deleting the three zeros from the Iraqi currency was "inappropriate due to the present economic conditions". Citing a lack of real reforms in the banking sector, he said that the economic situation is not suitable for such a change, according to a […]

Pathfinder Matchmaking Trade Mission to Erbil

Following the success of the Pathfinder Trade Mission to Kurdistan earlier this year, Pathfinder Trade and Invest invites you to join its September high level Trade and Investment Mission to Erbil, Iraqi Kurdistan. The programme will include an important round table discussion with the Erbil Chamber business members, meetings with Government Ministers and Ministries as […]

Political Crisis Cancelled, Provincial Elections Next in Iraq?

By Reidar Visser. 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 […]