By John Lee. Japan Petroleum Exploration (Japex) and its partners have delayed the start of production in the Gharraf [Garraf] oil field by six months, according to Bloomberg. Production was scheduled for the end of 2012, but will now be postponed until the end of June; a company official blamed the delay on problems with […]
Iraq’s ministry of industry and minerals has confirmed that it has finalised a $700 million contract with Turkish group United Brothers Holding to revamp and upgrade Iraq’s State Company for Iron & Steel, reports SteelGuru. SCIS, located on the southern outskirts of Basra, has been out of action since April 2003. The company had a design […]
U.S. Ambassador to Iraq Stephen Beecroft (pictured) and USAID Deputy Mission Director David Harden celebrated on February 25 the completion of the U.S. Agency for International Development’s (USAID) five-year, $192 million Provincial Economic Growth Program-Tijara. Through partnership and joint cooperation with the Iraqi Ministry of Trade, project beneficiaries, and representatives from microfinance institutions, the Tijara […]
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Mobile phone company Zain Iraq announced that it will put 25% of its shares on the Iraqi stock market, less than three weeks after its rival Asiacell placed a portion of […]
Lebanese company Robert's Group is due to open its first family entertainment centre in Iraq next month. The standalone outlet in Baghdad will have 40 games and will be opened in conjunction with a local partner. According to a report from Intergame, the new unit is currently in the final stages of completion. Robert’s Group, […]
The Mid-Euphrates provinces of Babel, Karbala and Najaf have reportedly agreed to build a new airport in Babel province. Babel Deputy Governor, Engineer Ali Abdul Siheil, told AIN that the airport will be built by the French Company EDB at a cost of $2 billion. “There were extended meetings held among the representatives of the […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 28th February 2013). Please click here to download a table of listed companies and their associated ticker codes. ID1,693 / $1,832 (+3.3%) (weekly change). The number of week traded shares was 13.1bn and the weekly trading volume was ID24.6bn ($20.5mn). ISX Company […]
By John Lee. Iraq's finance minister Rafaie Al-Esawi [Rafe Al-Issawi, Rafie al-Issawi] (pictured) has announced his resignation on Friday morning, according to a report from Reuters. Addressing crowds of Sunni Muslim protesters in the Sunni heartland of Anbar, he said: "I came today in order to announce my resignation from this government in front of you […]
By Ali Abel Sadah for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraqi government is awaiting the parliament’s approval of the 2013 federal budget to pay Russia the money owed for the weapons deal. Meanwhile, Iraqi and Russian officials have confirmed that […]
Genel Energy plc has announced its preliminary audited results for the year ended 31 December 2012. Highlights Consolidated our position as the leading independent oil and gas producer in the increasingly attractive Kurdistan Region Current production capacity of circa 80,000 bopd (net), with 2012 average net working interest production of 44,500 bopd in line with […]
The U.S. Embassy, through the U.S. Agency for International Development (USAID) and the Iraqi Ministry of Health, hosted the Second Annual Conference of Primary Health Care and Preventive Medicine in Baghdad February 26 - 27. The Iraqi Minister of Health, Dr. Majeed Hamad Ameen, and USAID Deputy Mission Director, David Harden, attended the conference. USAID […]
By John Lee. The President of Kurdistan Region, Massoud Barzani (pictured), has approved the budget for 2013, officials from Ministry of Justice from KRG said. This follows the budget's approval last week by a majority of the Kurdistan parliament. (Sources: Kurdsat, AIN)
