Oil ministry's media spokesman, Asem Jihad, said that the ministry has ordered all gas-selling stations and gas factories in Baghdad to exchange plastic cylinders for metal ones. Jihad added in a statement to NMC that the ministry imported 100 thousand plastic gas cylinders within its contract It is waiting allocations to import large amounts of […]
Author Archive | adrianshaw
Amwag Starts US$238m Housing And Hotel Project
Iraqi-owned Amwag International announced on Monday a housing and hotel project worth US$238m in the heart of Baghdad, while more companies want to invest in the country after the security situation stabilised. Iraq, which has suffered because of decades of war and sanctions, is trying to attract foreign investors to help rebuilding its destroyed infrastructure […]
Governor and Housing Minister Mull Kirkuk Reconstruction Projects
Kurdistan’s Housing Minister, Kamran Ahmad Abdullah, and his accompanying delegation discussed reconstruction projects in the province with Kirkuk Governor Abdulrahman Mustapha on Wednesday, according to the province’s media director. “The two sides discussed reconstruction operations in Kirkuk,” Dalier Samad told Aswat al-Iraq news agency, noting that the minister expressed the region’s support for reconstruction in […]
Abu Falous Port Receives 4 Merchant Ships
The Iraqi port of Abu Falous on Wednesday received four merchant ships carrying varied cargos, the transport ministry said in a statement. “Four ships; one from Panama and three from Iran transported containers and a varied cargo arrived in Abu Falous on Wednesday,” said the statement received by Aswat al-Iraq news agency. The Shiite province […]
Tags: Merchant Ships, Transportation
ISX Trading Hits ID684 Million on Wednesday
The Iraqi Stock Exchange (ISX) trading activities hit 684 million Iraqi dinars on Wednesday. Wednesday’s session saw trading over shares of 36 out of 84 electronically-registered firms, 11 of them went down, 13 up while 12 others retained their previous rates. Traded shares hit 430.656 million worth more than 684.624 million dinars ($585,000) through 291 […]
Barzani Meets German Investors in Arbil
The President of Iraq’s Kurdistan region Massoud Barzani received the German deputy trade minister and his accompanying delegation on Wednesday at the Salah el-Din resort in Arbil, according to a presidential statement. During the meeting he announced the inauguration of the German trade and industrial office in Kurdistan to facilitate the work of German investors […]
CBI Dollar Sales Down to $135m
The Central Bank of Iraq’s (CBI) dollar sales went down to reach $135.430 million in its daily auction on Wednesday, compared to $155.700 in the previous session. ( Aswat Al Iraq )
Tags: CBI, Iraq Banking & Financial News
Samarrai Optimistic About Investment
The Iraqi parliament Speaker Iyad al-Samarrai, said that Iraq was about to witness a surge of large foreign investment because of many signed oil agreements. Samarrai confirmed that, "International companies have started investing in Iraq which leads to further investment, referring to Turkish and Iranian companies and several European firms whch have shown strong interest […]
Oil sales $1bn up on budget in 4 Months
Iraq earned more than $17 billion in the first four months of this year an Oil Ministry spokesman said. The spokesman, Assem Jihad, said the sum is one billion dollars in excess of budget expectations for 2010. “The ministry exported 222.7 million barrels in the first four months of this, earning the country $17.218 billion,” […]
Tags: Iraq Budget News, Oil & Gas
Gulf Keystone Announces Fundraising
Just last week, shares in Gulf Keystone rose sharply on improved sentiment regarding oil exports from Iraqi Kurdistan. The shares have since given up much of that gain, on fears of dilution from a new round of fundraising. Details of the fundraising were announced on Tuesday. According to a statement from the company: “Gulf Keystone […]
An Apocalypse with a Silver Lining
By Mark DeWeaver Iraq faces a big downside risk from the European sovereign debt crisis—perhaps an even bigger risk than that of renewed sectarian violence. While Iraq’s limited financial links to the outside world make it immune to contagion through the banking sector, sustained debt deflation in Europe would result in a big drop in […]
Read our new Expert blogger on economics and finance starting this week
The sovereign debt crisis in Europe could be bad news for the Iraqi economy if it leads to a sustained bear market in oil. But a more likely outcome is that the crisis will cause central banks to continue their ultra-loose monetary policy, thereby benefiting Iraq by keeping oil prices high. Our new expert Blogger, […]