Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 18th October 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,438 / $1,556 (-2.8%) (weekly change). The number of week traded shares was 16.9bn and the weekly trading volume was ID21.8bn ($18.2mn). ISX Company […]
Archive | 2012
Exxon "Nears Sale of South Iraq Stake"
ExxonMobil is in talks to sell its 60% stake in the massive West Qurna-1 oil field, while gearing up to start a controversial drilling program in Iraqi Kurdistan, the Wall Street Journal reports, citing what it described at "people familiar with the matter". Exxon's 2010 deal with the Iraqi central government to improve production in […]
Tags: Exxon, Exxon Mobil, ExxonMobil, KRG, Kurdistan News, oil contracts, Shell, West Qurna Oilfield News
WesternZagros Confirms Oil at Kurdamir-2
By John Lee. WesternZagros has announced that during the post-perforation clean up period of the Eocene testing program, an initial low rate flow of 42 to 45 degrees API oil to surface has been achieved at the Kurdamir-2 exploration well. The Company advises that flow rates and the potential for commerciality cannot be confirmed until […]
Paris Gallery to Enter Iraq Luxury Goods Market
The Dubai-based Paris Gallery plans to open five new stores in Iraq over the next three years, according to a report from Gulf News. Randa Al Akkad, the head of franchise at Paris Gallery, said the first store is scheduled to open in Baghdad in 2013, with another two in Erbil and one in Basra […]
Nechirvan Barzani Address to 2nd World Kurdish Congress
(Note: the speech was read by Minister Ali Saeed, as the Prime Minister was unable to attend). Ladies, gentlemen and distinguished guests, good morning. I wanted very much to be here with you today, but unfortunately I have had to change my plans due to some unforeseeable circumstances. In any event, I would like to […]
What's the Real Reason for Shabibi's Dismissal?
Perhaps the biggest story of recent days was the shock dismissal of the Governor of the Central Bank of Iraq (CBI), Sinan al-Shabibi, and the issuing of arrest warrants for him and many of his staff. The nature of the allegations against Mr Shabibi are not entirely clear, but appear to center around manipulation of […]
Tags: CBI, Central Bank of Iraq, Central Bank of Iraq News | CBI Iraq, Commission on Integrity, Corruption, dinar, forex, Integrity Commission, Integrity Committee, IQD, Iraqi Dinar News, Nouri al-Maliki
Iraq to Spend $1.6bn on Solar, Wind Energy
By John Lee. Iraq plans to invest up to $1.6 billion on renewable energy over the next three years, according to a report from Retuers. The new solar and wind power stations will to add 400 megawatts to the national grid, helping to close the gap between the 8,800 MW produced and the 14,000 MW needed. […]
Tags: ABB, Egypt, Electricity In Iraq, Orascom, renewable energy, solar power, Switzerland, Toyota, Toyota Tsusho
Iraq Cabinet Names Interim CBI Governor
Iraq's cabinet has named an interim replacement as governor of the country's central bank. Prime Minister Nouri al-Maliki's spokesman Ali Mussawi said, "the cabinet decided to authorise Abdelbassit Turki, the head of the Board of Supreme Audit, to run the central bank indefinitely". The former head of the Central Bank of Iraq (CBI), Sinan al-Shabibi, […]
Baghdad, USAID Agree on Economic Balance
A new report jointly compiled by the Iraq Prime Minister’s Advisory Commission and the U.S. Agency for International Development warns that over dependence on oil revenues has the potential of creating significant economic and market distortions. According to the report, released at an October 4 conference in Baghdad’s Al-Rashid Hotel, rapid expansion of oil wealth, […]
Tags: Tijara, United States Agency for International Development, USAID, USAID-Tijara Provincial Economic Growth Program
TBI Opens Branch at Baghdad International Airport
The Trade Bank of Iraq (TBI) has announced the opening a new branch at Baghdad International Airport, and confirmed that it will also open a branch at Najaf Airport. Hamdiya al-Jaff, the head of the TBI, said the Baghdad Airport branch will provide the full range of banking facilities, including remittances, opening current accounts, and […]
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Weekly Security Update
By Gary Sandiford, Olive Group’s Dubai based assessments manager. Olive Group is a leading provider of security and technology solutions and has operated continuously in Iraq since 2003. Overview Olive Groups Iraq statistics are drawn from multiple sources, including media reporting and direct liaison with in country assets. Included within the statistics are a […]