By Mark DeWeaver. In a move that is likely to mark the start of a new era for the Iraq Stock Exchange (ISX), National Bank of Kuwait (NBK) has begun offering custody support services for ISX-listed shares through its 80%-held subsidiary Credit Bank of Iraq. This is arguably the most important step forward for the […]
By John Lee. Iraq exports 73.1 million barrels of crude oil in January, bringing in revenue of $7.672 billion. This corresponds to a daily rate of 2.36 million bpd, very slightly up on the December rate of 2.348 million bpd. A spokesman for the Oil Ministry, Asim Jihad said that export rates and revenues had […]
By John Lee. Iraq's deputy prime minister for energy affairs, Hussein al-Shahristani, has opened a new gas-powered electricity plant in southern Baghdad. The plant has four 125-megawatt generators and cost $219 million to build, he said. Iraq Business News understands that the plant was constructed by the Korean company Hyundai. (Source: Al-Shorfa)
At a ceremony in Basrah on Thursday (21st) the Iraq Britain Business Council Executive Chairman Baroness Nicholson signed a memorandum of understanding with the Governor of Basrah Dr Khalaf A Khalaf, signalling a new era of close co-operation. Dr Khalaf said the agreement meant: "Basrah regards the IBBC as the door to the UK." Meanwhile […]
Russian President Vladimir Putin received President Barzani in Moscow for discussions on strengthening bilateral relations and to build on the historic friendship that exists between the people of Russia and the people of Kurdistan. Today’s meeting focused on economic and cultural cooperation as well as on the role of Russian companies in the reconstruction process […]
By John Lee. The Speaker of the Iraqi Parliament, Osama Al-Nujeifi [Usama al-Nujaifi] (pictured), said on Thursday that negotiations with leaders of the political blocs on the state budget for 2013 have entered a "blind alley", according to KUNA news agency. He blamed the deadlock on disputes among the parliamentary blocs on allocations for the […]
By John Lee. The Iraqi Ambassador to Canberra, Muayed Saleh [Mouayed M. Issa M. Saleh] (pictured), has urged Australian companies to investment in Iraq. At a meeting with the Australian Deputy Minister of Foreign Affairs, Peter Virgiz, the two sides discussed the economic relations between the two countries, and the Iraqi Ambassador called the on […]
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. Following an attempt by Iraqi parliament speaker Osama al-Nujaifi (pictured) to restore the dismissed head of the Justice and Accountability Committee to his post, in a clear challenge to Prime Minister […]
KRG Prime Minister Nechirvan Barzani has received a delegation of European Union ambassadors and representatives who are in the Kurdistan Region to discuss ongoing political disagreements in Iraq. The joint European missions are holding consultations with various Iraqi political factions to reduce tensions and understand the role that the EU can play to build confidence. […]
By John Lee. Foreign Minister Hoshyar Zebari has held a meeting in his office with the Director-General of the Dutch Ministry of Foreign Affairs, Jones Rienh. During the meeting, the Minister stressed the importance of developing relations between the countries in all fields, and of the benefits from Dutch expertise in agriculture and technology. Regional […]
If you're a regular reader of Iraq Business News, you'll know all about the huge opportunities in sectors such as oil and gas, mining, housing, and electricity. You'll also be aware of the sorts of challenges facing the country. But if you could change just three things about Iraq, what would they be? What three […]
By John Lee. The National Investment Commission (NIC) has announced its intention to sign a contract with the local government of Karbala province to build 40,000 houses. NIC Chairman Sami al-Araji (pictured) said the housing complex (Thifaf Karbala), will be built by the UAE-based Bloom Properties, and is expected to be completed within eights years. (Source: […]
