By John Lee. Lucky Cement, which claims to be the largest manufacturer of cement in Pakistan, has entered into a joint venture for a cement grinding plant in Iraq, according the The News. "The contract for the supply of plant and machinery for this project has been signed and the project team, as well as […]
By Histyar Qader. This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. What plans do Iranian diplomats have for Iraqi Kurdistan? Recently there have been high level visits from both sides and locals say the Iranians, a major […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 25th October 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,457 / $1,576 (+1.3%) (weekly change). The number of week traded shares was 4.8bn and the weekly trading volume was ID6.5bn ($5.4mn). Note: There will […]
By John Lee. Iraq's Interior Ministry says its forces have stormed Central Bank building in Baghdad and arrested 36 officials on suspicion of corruption. “A security force belonging to the ministry implemented an arrest warrant issued by the judicial council against a numerous officials of the Central Bank without any problem,” the ministry said in […]
Advanced communication, sensor and navigation systems from Northrop Grumman have been installed on the Iraqi offshore patrol vessel, the Al-Fayhaa, which along with the Al-Basrah will conduct security missions in the northern Arabian Gulf According to a report from UPI, the systems for the first of two patrol vessels, procured by the U.S. Navy for […]
By John Lee. WorleyParsons has been awarded a $90m contract extension by BP Iraq NV, and its partners PetroChina and Iraq's State Oil Marketing Organization (SOMO), to continue providing engineering, procurement and management services to boost production from the super-giant Rumaila oilfield in Southern Iraq. In November 2009, BP and its partners entered into a […]
By John Lee. Bloomberg reports that Iraq will keep the number of shipments of Basrah Light crude from the Persian Gulf unchanged in November compared to October, but will increase the total volume. According to the loading program, Iraq will ship 46 cargoes from the al-Basrah Oil Terminal (ABOT) (pictured). Exports will total 73.9 million […]
By John Lee. Iraqi MP and member of the Parliamentary Economic and Investment Committee, Nahida al-Dayni, has ruled out deleting the zeros from the Iraqi currency soon. Speaking to All Iraqi News Agency (AIN), she said: "The process of deleting the zeros from the Iraqi currency will not be done soon due to the lack […]
Advertising Feature Senior Kurdistan Regional Government representatives opened the 8th annual edition of the multi- sector trade fair, Erbil International Fair 2012, which was held under the auspices of the Kurdistan Regional Governmentfrom 15 to 18 of October 2012. This year’s edition, the biggest ever since the show’s beginning in 2005, attracted over 850 companies […]
The dispute between Iraq's central government and the Kurdistan Regional Government over oil contracts in northern Iraq has been dragging on for years, but it recent times we've seen developments that push the sides further apart rather than bringing them together. While the short-term issue of payments for shipments from Iraqi Kurdistan appears to have […]
By John Lee. Fox Business reports that James Biden, the younger brother of US Vice President Joe Biden (pictured), is about to land a potentially lucrative contract to build 100,000 homes in Iraq. Since November 2010, James Biden has reportedly been the executive vice president of HillStone, in which Hill International owns a 51% stake, […]
By John Lee. The Chief Executive Officer of Italy's Saipem has said that the company is negotiating a contract worth around $1 billion in Iraq. According to Reuters, Pietro Franco Tali (pictured) said on a conference call that the negotiations could be finalised by the end of the year. Iraq Business News believes the contract […]
