Katyusha rockets fired on a camp housing Iranian dissidents near Baghdad have killed five members of the opposition group, Iraqi security officials say. About 40 members of the Mujahedeen-e-Khalq (MEK) group were wounded in Saturday's attack, along with three Iraqi policemen. (Source: Al Jazeera)
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 7th February 2013). Please click here to download a table of listed companies and their associated ticker codes. ID1,646 / $1,780 (+0.4%) (weekly change). The number of week traded shares was 92.7bn and the weekly trading volume was ID1520bn ($1.3bn). ISX Company […]
By John Lee. The Province of Diyala has urged the government to allocate resources for the construction of 33,000 new homes to replace its slums. Rasem al-Ukaili, the official in charge of reconstruction and investment, said: "The slums are an affront to the general well-being [of the population] ... There is urgent need for the […]
By John Lee. A senior Turkish government official has told the Hürriyet Daily News that the Turkish government will continue to encourage Turkish energy companies to sign more agreements with the Kurdistan Regional Government, despite what it describes as Washington’s warnings not to take such steps as they risk partitioning the country. "These are steps […]
By John Lee. As part of its effort to improve the national grid, Iraq has rehabilitated an old power plant in Nassiriyah. Built in the 1970s, the plant is one of the largest in Iraq, but was in need of modernisation. Electricity Ministry spokesperson Musaib al-Mudaris said it took Iraqi technicians three months to repair, […]
U.S. Ambassador to Iraq Stephen Beecroft (pictured) hosted a reception at the U.S. Embassy in Baghdad to commemorate International Human Rights. The event was attended by members of the Council of Representatives’ Human Rights Committee, members of the Independent High Commission for Human Rights, civil society figures, and representatives from the international and diplomatic community. […]
Oman-based Galfar Engineering is considering expansion into Iraq. Vice chairman and MD Dr. P Mohammed Ali was reported by Muscat Daily as saying: "Currently, we work out of Oman, India and Kuwait. We have plans to expand to countries such as Saudi Arabia and Iraq in the future. As we grow, our main aim will […]
The long-awaited first IPO of an Iraqi mobile phone provider has finally come to pass, with the commencement of trading in the shares of Asiacell on the Baghdad stock exchange this week. The fundraising -- described by our Expert Blogger Mark DeWeaver as "a Nobel prize-winning IPO" -- was a major achievement, effectively doubling the […]
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. Revenues from Iraqi ports reached $30 million in December 2012, the highest monthly yield in their history. Meanwhile, the Ministry of Transport is preparing to open the Iraqi Container Port in […]
By John Lee. Four industry sources have told Reuters that Swiss oil trader Trafigura is still indirectly supplying gasoline to Iraq through another firm, despite being banned from participating in tenders for 2013 after buying oil from Iraqi Kurdistan. Baghdad's State Oil Marketing Organization (SOMO) finalised a deal in November to buy 1.56 million tonnes […]
By John Lee. An Iraqi lawsuit accusing more than 90 companies of conspiring with Saddam Hussein's regime to frustrate the United Nations' program, and depriving Iraqis of roughly $10 billion of essential aid, has been dismissed by a court in New York. Reuters reports that U.S. District Judge Sidney Stein said the government of Iraq […]
By John Lee. Swiss company Cotecna has been officially appointed by the Iraqi Central Organization for Standardization and Quality Control (COSQC), to handle the implementation of a verification of conformity program for goods imported into Iraq. Based on article 3 (clause 8) of Iraqi law n°54 of 1979, COSQC has been empowered by the Iraqi […]
