The Iraq Britain Business Council (IBBC), jointly with the British Universities Iraq Consortium (BUIC), held a daylong event sponsored by the British Council in London on different aspects of academic partnerships between Iraq and UK. Baroness Nicholson of Winterbourne, IBBC Executive Chairman, HE Prof Al- Mosawi, Cultural Attache of the Iraqi Embassy, Amir Ramzan, Director […]
By John Lee. An Iraqi court has reportedly rejected a $4.5-billion (5.4 trillion Iraqi dinar) lawsuit against Zain. The case centers around Zain's $1.2-billion acquisition of Iraqna from Egypt's Orascom Telecom in December 2007, after the Egyptian company dropped out of the running for a long-term mobile licence. According to Reuters, the Kuwaiti firm then […]
By John Lee. Pakistan's Economic Coordination Committee (ECC) has approved a proposal to allow Attock Cement Pakistan Limited (ACPL) to transfer $24 million (29 trillion Iraqi dinars) to Iraq for the construction of a cement grinding unit in Basra. The investment will starting this month, with the company intending to hire 50 percent of its labour […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 14th March 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,058 (+2.9%) / $1,110 (+2.9%) (weekly change) ) (-24.0% and -25.1% YTD change, respectively). The number of week […]
Last week, the Rabee Securities ISX Index (RSISX) gained 2.9 percent to end the week at IQD 1058, reversing its recent sharp downward trend. But the market is still 24 percent below its level at the start of the year, having already lost more than 25 percent in 2014. The question for investors is where […]
Report first published in nina-iraq.com, the magazine for Iraqi women everywhere. By Dr. Basil Al-Fakhri, formerly of the Electricity Power Commission-IRAQ [1988-1989], consultant in Western power Utility, KBR consultant and SMEC consultant-Australia[2004-2012]. It is my belief that the Ministry of Electricity [ME] needs to engage with international consulting firms (this is what happens with oil […]
By John Lee. India's oil imports from Iraq have seen a sharp increase in January, according to Platts, climbing 56 percent to 2.48 million mt. Eklavya Gupte, associate editor, Europe and Africa crude oil, at Platts said: “Indian refiners are importing Iraqi Basrah light crude oil to compensate for the drop in imports from Iran […]
By John Lee. Basra governorate has reportedly approved 60 new power projects valued at a total of $218 million (255 billion Iraqi dinars) within its 2015 budget. The projects were given the green light at an emergency meeting of the governing council on Monday, and were fewer than desired because of budget constraints. Emirates 24|7 […]
By Patrick Schmidt. Once the price of oil rises again, the Iraqi government hopes to fix some of the financial issues attached to the lower oil prices. The Ministry of Oil hopes to create incentives for international oilfield operators to produce more oil even when prices are high. Other discussions include ways to cut costs […]
By Mustafa al Kadhimi for Al Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the opinions of Iraq Business News. Will Sistani be able to Control Popular Mobilization Forces? Iraq’s top Shiite cleric, Grand Ayatollah Ali al-Sistani, issued a fatwa on June 13, 2014, encouraging Iraqis to take up […]
By John Lee. AM General has been awarded a $32,109,715 firm-fixed-price Foreign Military Sales (Iraq) contract for 160 M1151A1B1 High Mobility Multi Purpose Wheeled Vehicles. Work will be performed in South Bend, Indiana, with an estimated completion date of June 12, 2015. One bid was solicited with one received. (Source: US Dept of Defense)
By John Lee. A report from KUNA says that the UN World food program (WFP) urgently requires $45 million (54 billion Iraqi dinars) to continue its Emergency Operation in Iraq until June. Elisabeth Byrs, WFP Senior Communications Officer , Geneva Spokesperson told a press briefing that the humanitarian situation in the cities of Samarra in […]
