Bloomberg reports that EFG-Hermes Holding SAE, the biggest publicly traded Arab investment bank, started offering an equity-swap product linked to Iraqi securities. This potentially allows investors to benefit from the nation's economic growth, which the World Bank estimates at 12.6% in 2012. “Despite the prevailing risk-averse nature of investment in the Middle East and North […]
Flights between Baghdad and the northern city of Mosul have resumed after nine years of disruption, reports AKnews. An Iraqi Airways flight carried 40 passengers from Mosul to Baghdad and authorities plan to launch flights between the two cities on a regular basis. The Director of Mosul Airport, Sardar Hasan, said there will be two […]
Turkish Airlines increased its flights between Basra and Istanbul to four per week, according to Aswat al-Iraq. The Turkish consulate in Basra said there will be flights between the two cities on Saturdays, Sundays, Tuesdays and Thursdays starting on 4th March. "Basra is strategically important, and the fourth air bridge will underline to the Turkish […]
New York's Center for Architecture is hosting an exhibition entitled: City of Mirages: Baghdad, 1952-1982 The history of modern architecture in Baghdad has been relatively underexplored and is still not well known. Though specialists in Iraq, and in exile throughout the world, have already undertaken detailed analyses of the topic, many of these studies have […]
Iraq's Ministry for Industry and Minerals has created a new department specialising in nanotechnology, according to Aswat al-Iraq. This department will provide information and ideas to all researchers inside the country and abroad, and will be affiliated with the Industrial Research Directorate. The Directorate has 8 research centers in a variety of industrial fields, including […]
The Kurdistan Regional Government (KRG) has taken delivery of five helicopters to help control traffic, says Aswat al-Iraq. We bought helicopters to develop the traffic system in the region and to use the modern technology to tackle the all traffic problems, The Kurdistan Region has seen a steady increase in the number of victims of […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
ExxonMobil has finally broken its silence regarding its plans to explore for oil in Iraqi Kurdistan. In the company's 10k statement filed on Friday, it says: "During 2011, production sharing contracts were negotiated with the regional government of Kurdistan ... Exploration and production activities in the Kurdistan region of Iraq are governed by production-sharing contracts […]
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. […]
After months of wrangling, the Iraqi House of Representatives has finally approved the $100.5 billion budget for 2012, according to AKnews. The budget is based on an average oil price of $85 per barrel and 2.6m barrels per day in crude oil exports, up from last year's budget of $82.6b, which was based on an […]
Iraq's crude oil exports to Jordan have dropped from 10,000 barrels per day to 6,000 bpd, reports Aknews. An agreement from 2008 specifies exports of 10,000 bpd, while an August 2011 agreement to increase to 15,000 bpd was described as not feasible "due to technical and administrative issues". Sixty percent of Iraq's oil exports go […]
The Nabucco consortium considers Northern Iraqi gas as an option to secure future gas supply to Europe, Dow Jones Newswires reported on Wednesday "Why shouldn't we pipe gas from Northern Iraq," Nabucco spokesman, Christian Dolezal is quoted as saying. "We should explore that as an option to secure future gas supply for Europe." But he […]
