Red double-decker buses to returned to Baghdad's streets this week, a colourful sign that the country is moving towards normality. Once a distinctive feature of the capital, the red buses with long white and black stripes disappeared after the 2003 invasion, and were either stolen or broken down. Hadif Omran, an official in a state-run […]
Wednesday was Day 1 of Iraq's two-day auction for the rights to 12 new exploration fields, but the long-awaited and often-delayed event was widely considered a disappointment, with only two bids received and only one deal agreed. The reason, say critics, is that Iraq is playing hardball on the terms offered to the 47 international […]
The first day of Iraq's fourth energy auction resulted in just one successful bid, with four of the today's six exploration fields receiving no bids from the 47 pre-qualified bidders. The six blocks offered today were numbers 2, 9, 6, 12, 1 and 11. A consortium of Kuwait Energy (40%), Turkey's TPAO (Turkiye Petrolleri AO) […]
Last week the Central Bank of Iraq (CBI) announced that it was authorizing the two largest state-owned banks, Rafidain Bank and Rashid Bank, to sell US dollars at auction. The CBI’s goal is to reduce the spread between its own auction rate and the unofficial “street” exchange rate, which has recently been as wide as […]
Levels of violence fell slightly in Iraq last week. At least 43 people were killed and 125 injured in nationwide incidents. A total of 43 bomb attacks left 24 people dead and 106 injured. There were no suicide bombings recorded although a number of militants were killed whilst handling explosive devices that detonated prematurely. A […]
The State Company for Tires Industries one of the companies of Ministry of Industry and Minerals re announce the tender no 9/T/TYN /2012 for supplying Machines specialist for the new tire project under classification (A2, T5, D3, S1) within the allocation of the investment plan 2012 so the experienced & specialized companies that have desire […]
Russia’s Lukoil is seeking partnerships with Asian oil firms to develop the West Qurna-2 project. The company's Vice-President, Leonid Fedun (pictured), told investors at a company presentation in Hong Kong: “We are holding talks with several potential bidders, including Asian firms. I believe we may get positive news by the end of this year.” Lukoil […]
Microsoft Corporation said on Monday that it has appointed a local company, the Baghdad-based Legend Lands, to distribute its products in Iraq. Microsoft's manager of Business Development for Emerging Markets, Rajai S. El-Khadem, said: "This is a big step for Microsoft and for Iraq. As of today Microsoft will be officially and locally represented in Iraq […]
The Director General of Iraq's Grain Board expects wheat production to fall by 16 percent to 1.5 million metric tons this year because of drought, forcing the country to boost imports to 3 million tons. “Unfortunately, there is a drought this year in the northern provinces,” Ibrahim told Bloomberg. “Last year production was around 1.78 million […]
The Iraq-Japan joint committee began its two-day meeting on Monday in Tokyo, with the aim of improving economic relations between the countries, reports AKnews. The Iraqi delegation is headed by Foreign Minister Hoshyar Zebari (pictured) and includes representatives from the ministries of trade, oil, finance, agriculture, electricity and health. The committee also includes representatives of […]
Since the beginning of this year most of the investment in Iraqi Kurdistan has taken place in Erbil, according to figures from the Kurdistan's Investment Board. AKnews reports that the Kurdistan Region's total volume of investment in the "first period" of this year was $3.1bn (3.6 trillion Iraqi dinars), but does not break this down […]
U.S. Assistant Secretary of State for International Narcotics and Law Enforcement Affairs (INL) William R. Brownfield met with Chief Justice Medhat Mahmoud of the Iraqi Higher Judicial Council (HJC) on May 28 to recognize the HJC’s assumption of full authority and responsibility for the Iraqi Judicial Development Institute (JDI). The HJC and INL, through joint […]
