The members of the UN Security Council condemned in the strongest terms the recent spate of terrorist attacks in Iraq, in which scores of civilians lost their lives and hundreds more were wounded. The attacks deliberately targeted locations where civilians congregate, including schools and places of worship. The members of the Security Council expressed their […]
The Special Representative of the United Nations Secretary-General for Iraq (SRSG) Mr. Nickolay Mladenov and the UN family in Iraq have been closely following with Iraqi officials the assistance that the United Nations can provide to the Government, more particularly the Ministry of Displacement and Migration (MoDM), in its efforts in assisting the communities affected […]
By Reidar Visser. The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraqi […]
By John Lee. The British Consul General in Erbil, Hugh Evans, has told Rudaw that businesses should use Kurdistan as a gateway for the rest of Iraq. He added: "We realize there are political problems in the energy industry (with Baghdad threatening oil companies working in the south that they cannot work in Kurdistan too), […]
By John Lee. Vitol and Glencore have finalised term contracts to sell over 1.5 million tonnes of gasoil to Iraq's State Oil Marketing Organisation (SOMO), reports Reuters. Vitol will supply four cargoes of 500 ppm sulphur gasoil, along with three cargoes from Glencore, through 2014 at a premium of $7.37 a barrel over Middle East quotes […]
By John Lee. Russia's Gazprom Neft has postponed initial production at the Badra oilfield until next year, due to safety concerns and logistical problems. Reuters reports that the company announced in a Eurobond prospectus that it had postponed the December launch due to "the failure on the part of certain contractors to fulfill their contractual […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 21st November 2013). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,751 (-0.7%)/ $1,866 (-0.9%) (weekly change). The number of week traded shares was 4.8bn and the weekly trading […]
In light of the recent events in Basra, Iraq Future Energy and Iraq Energy Forum - which was due to be held from 26 – 28 November 2013 at the Iraq Energy City in Basra, Iraq - will now take place from the 3 – 5 June, 2014. Kay Mitchell, Portfolio Director - Middle East, […]
This week in our Iraq Business News newsetter: 52 senior UK business executives visit Iraq; 27 articles for our readers; 16 new jets for Iraqi Airways; 2 major new contracts; 1 great Iraqi business website -- share it with your friends and colleagues!
Bombardier Aerospace has announced that Iraqi Airways, the national carrier of Iraq, has signed a letter of intent (LOI) to acquire five CS300 mainline jetliners. The LOI includes options on 11 CS300 aircraft. Based on CS300 airliner list price, a firm order would be valued at approximately $387 million US and could increase to $1.26 […]
By John Lee. Hotel management company Rotana has opened its second property in Iraq. The Karbala Rayhaan is a five-star property in the tourist city of Karbala, which attracts more than 12 million visitors a year. Omer Kaddouri, executive vice president and chief operating officer, said: “In 2012 Iraq posted a GDP growth rate of […]
By John Lee. Egypt's Petrojet has won a $100-million tender to design, supply and install the butane pipeline project from Nasiriyah to Khor Al-Zubair in Basra. Company boss Mohamed Shemy [Mohamed Shimy] said the project is to be completed within 18 months. According to a report from Egypt Independent, the company beat competition from Russia, […]
