Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 24th January 2013). Please click here to download a table of listed companies and their associated ticker codes. ID1,580 / $1,709 (-2.1%) (weekly change). The number of week traded shares was 19.5bn and the weekly trading volume was ID23.7bn ($19.8mn). ISX Company […]
Archive | 2013
Indian Company to Build Pipe Factory in Basra
By John Lee. The National Investment Commission (NIC) has awarded India's Welspun Corporation an investment licence to establish a factory for the production of iron welded pipes in Basra province. A press release from the Council of Ministers says that the cost of the project is $450 million [dinar?]. (Source: Cabinet)
Funding for SIGIR to Expire in March
By John Lee. Washington Post reports that the mandate and funding of the Special Inspector General for Iraq Reconstruction (SIGIR), which was established in October 2004, is due to expire in March, marking what it describes as the end of an effort to document and fix the myriad failings of the most ambitious U.S. rebuilding […]
Foreign Minister Meets Kuwaiti Counterpart
By John Lee. Foreign Minister Hoshyar Zebari met with his Kuwaiti counterpart, Sheikh Sabah Al Khalid, in Riyadh to discuss relations between the two countries. Amongst the issues discussed were the compensation due to Kuwaiti Airways, the endorsement of the joint administration agreement for the navigation of the Khor Abdullah, and the start of the […]
Shell Awards WorleyParsons 3-Yr Gas Contract
WorleyParsons has been awarded a three year contract by Shell Gas Iraq BV to provide project management support and services for the rehabilitation of gas facilities and infrastructure that are part of the scope of Basrah Gas Company (BGC). In November 2011, as part of a push to make better use of its gas resources, […]
Iraq Completes Submarine Cable Project
By John Lee. The Iraqi Ministry of Communications says a submarine cable project linking Iraq with other countries has been completed. The deputy minister of communications, Ameer al-Bayyati, told Al-Shorfa that the two-year, $36-million project, was completed by Gulf Bridge International, and will provide internet, telephone and television services at lower prices and with higher […]
Asiacell IPO "to be a Sell-Out"
By John Lee. Asiacell's $1.35 billion share sale will be fully subscribed, bookrunner Rabee Securities has told Reuters. Shwan Ibrahim Taha, chairman Rabee Securities, said: "I knew there would be interest, I just didn't know how much - I can say that we will easily cover it. We will be fully subscribed ... We are […]
Iraq Addresses Crude Oil Price/Quality Concerns
By John Lee. Reuters reports that Iraq has sweetened the terms for oil contract buyers and is becoming more competitive on pricing. Oil Minister Abdul Kareem Luaibi [Elaibi], who met customers in Vienna last month on the sidelines of the OPEC meeting, told the news agency: "We were keen that I personally meet all the […]
Harvesting the Iraqi Diaspora
By Padraig O'Hannelly. Iraq has many assets, and while oil is the first that comes to mind, we should not forget the multitudes of Iraqis who live outside their country of birth -- the Iraqi diaspora. Estimates vary, but there are probably between four and five million Iraqi-born emigrants living in a wide range of […]
Tags: Iraqi diaspora, jobs in Iraq
Lord Green Visits IBBC’s Basra Office
The United Kingdom’s Trade Minister Lord Green met with local business leaders, British company executives, as well as the Iraq Britain Business Council representatives in Basrah today (23rd). The hour long meeting focussed on the security environment in Basrah and business opportunities for British companies in the region. Executives from IBBC member firms Mott Macdonald […]
Tags: Anwar Soura, Basra News, Basra Sports City, Basrah Chamber of Commerce, Basrah Engineering Company, BP, HWH Associates, Iraq Britain Business Council, Kentz, Kier, Lord Green of Hurstpierpoint, Mott MacDonald, UK Trade and Investment, UKTI
Genel Completes Acquisition of Miran Block
By John Lee. Genel Energy has announced that closing has taken place on its acquisition of the remaining 49 per cent participating interest in the Miran exploration block in the Kurdistan Region of Iraq. On 12 November 2012, Genel Energy announced that Heritage Oil issued the Exchange Repayment Notice signifying its intention to repay the […]
Kuwait ratifies $500m Settlement with Iraqi Airways
By John Lee. Kuwait MPs have overwhelmingly ratified the $500-million settlement deal to end the 22-year-old dispute between Kuwaiti Airways Corporation (KAC) and Iraqi Airways. Iraqi Airways agreed in July to pay the compensation to KAC for damages caused by Saddam Hussein's troops during the 1990-91 invasion of Kuwait. Kuwait says 10 of its planes as […]