Iraq's three main mobile phone companies -- Zain, Asiacell and Korek -- have appealed against a communications regulator decision to fine them for failing to list on the local stock exchange, reports Reuters. Iraq's Communications and Media Commission (CMC) fined the companies for missing the August 2011 deadline to list on the local bourse, which […]
A spokesman for Iraq's Ministry of Planning and Development has said the ministry will announce the three contracts pre-import inspection next week. The Ministry has completed the final touches on the contracts for the international companies from France, Switzerland and Denmark, said Abd Al-Zahra al-Hindawi. Bureau Veritas of France, and Swiss company SGS, had been […]
By John Lee. The Kurdistan Regional Government (KRG) has extended its deadline for the federal government to pay the money it says it is due in respect of oil exports to 15th September, after which time it will again halt exports of Kurdish crude. Baghdad, on the other hand, has threatened to trim Erbil's budget […]
By John Lee. Zain Iraq has had its funds seized in all Iraqi banks until it pays a $262 million fine for selling 5 million SIM cards without permission, Bloomberg reports. “We have warned them to pay the fine,” Ahmad al-Omari, a member of the Communications and Media Commission’s trustee board, told the news agency. […]
By John Lee. Iraq's central government is considering trimming federal budget payments to the country's Kurdistan by more than $3 billion to cover losses it says came from the autonomous region's oil exports, reports Reuters. Ali al-Moussawi, advisor to Prime Minister Nuri al-Maliki, said a committee found losses of more than $3 billion resulting from […]
By John Lee. An Iraqi Oil Ministry spokesman has said the Ministry will make future energy exploration contracts more lucrative, to encourage foreign firms to compete in auctions for exploration blocks. "Economic and financial aspects will be reviewed in light of our experiences", said Assem Jihad. "The final details of the contracts will be worked […]
By John Lee. Sulaymaniya's general directorate of investment has said that a local company called 'Mario' is building an automobile factory on a 22 hectare (90 donum) site. The company will initially import parts from China and assemble them at the new plant; at a later stage the factory will also make the parts itself, […]
By John Lee. Iraq's deputy Minister of Finance has said the three zeros cannot be removed from Iraqi dinars during 2013 because no preparations have been made. According to the report from AKnews, the Iraqi Central Bank and people have been saying for four years that the zeros in the Iraqi currency will be erased […]
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 […]
By John Lee. Iraq’s oil exports rose to an average of 2.565 million bpd in August, up from 2.516 million bpd in July, the highest level in two decades (according to NINA), or highest in three decades (according to Reuters). Spokesman for the Ministry of Oil, Asem Jihad, said that Iraq's daily export of oil […]
By John Lee. Iraq’s GDP is expected to grow by 33% over the next three years, according to a report from Reuters. The average rate of about 10% per annum over the next three years will be driven by increased oil revenues, Mudher Kasim, deputy governor of the central bank, told Reuters in an interview. […]
By John Lee. Iraq's Kurdistan is to continue pumping oil for export until 15th September, extending its deadline for the central government to make disputed payments to companies working in the region. The KRG had halted exports for several months from the start of April over $1.5 billion it said was owed to foreign oil […]
