By John Schnittker, Chief Economist at Schnittker Associates, and former Ministry Advisor at the US Embassy in Baghdad. Iraq’s first tender to purchase wheat on the international market since mid-May 2013 reflects that despite a record wheat crop Iraq remains a major importer of wheat and flour products. Iraq’s 2013 wheat crop of nearly 4.0 […]
Occidental Petroleum has reportedly begun trying to sell a minority stake in its Middle East unit for as much as $8 billion. According to a report from Bloomberg, Chief Executive Officer Stephen Chazen (pictured) has held talks with sovereign wealth funds and possible strategic partners for a 40 percent stake in the Mideast business, whose […]
By John Lee. A pipeline leak has restricted oil flow to Iraq's southern export terminals, according to Reuters. A rate of 1.58 million barrels per day was being achieved on Tuesday, compared to an export rate of 2.3 million bpd in August. Output from Rumaila has been cut due to the leak, while two berths […]
By John Lee. The governor of Kirkuk, Najm al-Din Kareem, has laid the cornerstone of what is claimed to be the biggest industrial city in Iraq. The $250-million project is scheduled to be completed within two years. (Source: Aswat al-Iraq)
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. At least 35 people have been killed and nearly a hundred more wounded in a wave of attacks across Iraq, while the head of Baghdad's provincial council escaped an assassination attempt in the […]
DNO International announced today that it has commenced extensive testing of the Tawke-23 exploration well in the Kurdistan region of Iraq. The well is the second horizontal well drilled by the Company in the Tawke field and has encountered continuous oil shows within a 930 metre horizontal section in the main Cretaceous reservoir. The test […]
Under the patronage and presence of Nouri Al Maliki, Prime Minister of Iraq, Bloom Properties, the property development and real estate arm of National Holding, has signed a contract with the Iraqi National Investment Commission for the development of 50% of the "City of the Future - Madinat Al Mustaqbal" in Baghdad. The approximately 2.5 […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 12th September 2013). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,697 (-2.6%) / $1,829 (-2.3%) (weekly change). The number of week traded shares was 4.1bn and the weekly […]
From Jewish News One. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. A packed car bomb has exploded on a commercial street in Baghdad's eastern Shi'ite district of Al Mashtal resulting in at least five deaths and 17 wounded. A recent wave of violence […]
By John Lee. Oil minister Abdul Kareem Luaibi [Elaibi] has told reporters that Iraq plans to store 4 million barrels of crude oil in South Korea. According to a report from Reuters, he said that the oil was to be stored in Korea "to be near the markets - the Asian markets". The Wall Street […]
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. Iraq has decided to exempt foreign companies involved in the Faw Port project from customs duties and taxes. This decision was an attempt to accelerate the completion of the stalled project, through […]
By Harith Hasan for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq is currently witnessing a huge discrepancy between the performance of the political class and the security, social and economic pressures experienced by the people. Despite its apparent failure in dealing with […]
