By John Lee. Qatar-based Ooredoo has reported that its Iraqi subsidiary, Asiacell, substantially grew its customers during the year, increasing by 15% to 12.3 million compared to 10.7 million at FY 2013. In its 2014 Full Year Results, it said Asiacell faced the challenge of the growing security issue in the country during the year, […]
Modern Iraq Company for Trading Agencies (MICTA), the authorized distributor for Cummins Power Generation, has supplied a prime power solution to an important religious site in Iraq. The 6.4 MW solution is powering the Al Abbas Mosque at Karbala, a mausoleum visited by millions of pilgrims every year. MICTA delivered, installed and commissioned four enclosed […]
By John Lee. The Saudi Foreign Minister, Saud al-Faisal (pictured), has told reporters in Riyadh that “Iran is taking over Iraq.” The comments were made during a joint press conference with US Secretary of State John Kerry, in which Kerry said the United States was keeping an eye on Iran's 'destabilizing' acts, adding that his country […]
By John Lee. The Czech government has approved the sale of 15 redundant L-159 combat planes to Iraq. Defense Minister Martin Stropnický said the government will receive 750 million Kč ($30 million) via the Aero Vodochody mediating company. Prague Post reports that the deal will give work to up to 100 people who will assemble […]
By John Lee. Pumping of crude oil from Iraqi Kurdistan to the port of Ceyhan in Turkey has reportedly been halted since Monday. An official at Turkey's state pipeline operator Botas said told Reuters that there had been a theft on the pipeline and that repairs would take around one to two days. (Source: Reuters)
On Monday, Prime Minister Haider al-Abadi met the director of the fund to reconstruct the areas affected by terrorist operations, Dr. Abdul Basit Turki. They examined ways to expedite provision of services and the completion of reconstruction for the liberated areas that were devastated by the terrorist gang Daash (Islamic State), in addition to persuading […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The advance of the Iraqi army against ISIL is forcing a growing number of people from their homes. It's a situation that aid agencies in Iraq say is only going to get worse. […]
By John Lee. Iraq’s State Oil Marketing Organisation (SOMO) has narrowed the discount for April crude deliveries to Asian buyers by the most since November 2011, according to Bloomberg. Asian shipmentas are priced relative to the Dubai-Oman crude benchmark, published by Platts, the energy-information division of McGraw-Hill. Basrah Light to Asia will sell at a […]
By John Lee. Militants from the Islamic State (IS, ISIS, ISIL) have reportedly destroyed ruins at the ancient city of Hatra, 110km (68 miles) south-west of Mosul. The UNESCO world heritage was founded during the Parthian Empire over 2,000 years ago. "The destruction of Hatra marks a turning point in the appalling strategy of cultural […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 5th March 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,028 (-2.9%) / $1,079 (-2.9%) (weekly change) ) (-26.2% and -27.2% YTD change, respectively). The number of week […]
By John Lee. The Managing Director of the National Iranian Gas Exports Company has said that Iran is ready to sign an agreement with Iraq to supply Basra with 5 million cubic meters (mcm) of natural gas per day in next Iranian calendar year. Alireza Kameli (pictured) said Iran will start export one year after […]
By John Lee. The Islamic State (IS, ISIS, ISIL) has bulldozed the ancient Assyrian city of Nimrud (Kahlka), which lies about 30km (18 miles) south-east of Mosul. The city was founded more than 3,300 years ago and was one of the capitals of the Assyrian empire. Its frescos and works are celebrated around the world […]
