The process of scrapping old dinars and deleting zeros from Iraq's currency to replace it with more manageable numbers could cost the country billions, according to Ahmed Faizullah, the deputy chairman of the Parliamentary Finance Committee. Redenominating is up to Iraq's central bank, but it would cause chaos for government by redenominating after it has set […]
By John Lee. Baghdad and Erbil both have too much at stake not to settle their dispute over oil, although they may take a year or so to do it, Genel Energy Chief Executive Tony Hayward (pictured) told Reuters. "The scale of the opportunity for Kurdistan and for Iraq is so large that there will […]
By Mohammed Hamid al-Sawaf. This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. This week, the annual grape exhibition opened in Dohuk, a state famed throughout Iraq for its grape growing prowess. NIQASH’s Abdul Khaliq Dosky went to […]
The Deputy German Ambassador to Iraq, Alexander Schoenfeld, has reportedly confirmed that his country will invite Iraq to participate in an investment conference to be held during the coming months. The Head of the Iraqi Presidential Office, Naseer al-Ani, hosted Schoenfeld at his office on Wednesday and the two sides discussed relations between the two […]
The Head of the Department of Foreign Relations, Minister Falah Mustafa, this week welcomed the arrival of new Korean, Dutch and French diplomats posted to the Kurdistan Region. “We are very pleased at the level of international representation that we now see in the Kurdistan Region,” Minister Mustafa said. “The international presence here represents the […]
By John Lee. The Energy Committee of Maysan's Provincial Council has announced the discovery of an oil field in Ezair district, 70 km southwest of the city of Amara (pictured). The Committee's Chairman, Amer Nasrallah, told NINA that an exploratory well had been drilled to a depth of 4,260 meters at the Deemeh field, and […]
By Mohammed Hamid al-Sawaf. This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Syrian violence has seen illegal weapons dealers in Iraq get richer. Now even the relatively safe, prosperous city of Karbala, where locals must check their […]
Kuwaiti telecom operator Zain will continue its fight against a substantial fine imposed on its Iraq operations despite some of the unit's bank accounts being frozen. Zain Iraq, the country's number one mobile operator with an estimated 53 percent market share, was hit with the fine of $262 million in February 2011 for putting 5 […]
Aquascapes, the swimming pools design and construction division of UAE based Belhasa Projects has won new projects in Iraq and Maldives. In Erbil, Iraq, the company has won contracts for landscape design for a luxurious villa and a hotel. According to Malay Shah, General Manager, Aquascapes: "We are excited to enter the landscape design market […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 8th September 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,382 / $1,495 (+0.4%) (weekly change). The number of week traded shares was 5.7bn and the weekly trading volume was ID11.6bn ($9.7mn). ISX Company Announcements […]
The Director General of Missan Oil Company has announced that 14 of the 20 oil wells at Bazargan [Bazirgan] oil field have been drilled. He said that Weatherford accomplished the drilling operation in record time, and they were working on three of the remaining six wells. The wells have provided production capacity of 6,900 bpd. […]
The first of six C-130J Super Hercules for the Iraqi Air Force recently completed its first flight at the Lockheed Martin facility in Marietta, Georgia. The Iraqi Air Force intends to use the C-130J for intra-theater support of its troops and humanitarian relief operations in various locations. These new transport aircraft will provide Iraq with […]
