Normally thousands of Iranian tourists arrive in Karbala daily. But as Western sanctions on Iran hit, pilgrims are staying at home. And the ones that do come are not shopping. Karbala’s merchants say they’re facing financial ruin, according to this article from NIQASH. Any opinions expressed are those of the author, and do not necessarily […]
By Chris Bowers, British Consul General in Erbil. This article was originally published by Rudaw, and is re-published with permission by Iraq Business News. Can any government reach its full potential without using its entire people? Of course not. That is why the UK worldwide considers the role of women to be so important. A […]
Iraq's central bank has reportedly placed private bank Warka Bank under guardianship to supervise it through insolvency. Warka Bank had been in talks with Standard Chartered Plc to sell a stake last year, but they were not successful. According to the report from Reuters, Mudher Kasim, deputy governor of the central Bank of Iraq, said: […]
Louis Besland, Partner at A.T. Kearney, a global management consulting firm recently participated in an interview with the World Refining Association (WRA) to discuss the current challenges and future opportunities faced by the refining industry. The oil and gas downstream industry in the Gulf has a bright future. Currently though, with the exception of Oman […]
Aswat al-Iraq reports that the Iraqi Maritime Company has signed a Memorandum of Understanding (MoU) with the Norwegian company Golden Ocean to build vessels for the Ministry of Transportation. The company discussed the possibilities of building ships for Iraq either through cash or on a deferred payment basis. According to the report, he Norwegian company […]
Iraq has received 400 Chevrolet armoured vehicles in recent days, intended to transport senior foreign officials during the Arab League summit on 29th March in Baghdad, according to AKnews. An MP from the acting Foreign Relations Committee, who wished to remain anonymous, said that the cars were purchased from a budget for the summit allocated two […]
Dubai's Etihad Airways will launch flights to Basra from mid-April. “Iraq’s surging economy represents a good opportunity to add even greater depth to our schedule,” said James Hogan, Etihad Airways President and Chief Executive Officer. “Basra is an important industrial and transport hub but currently has only limited access to air services and we are delighted […]
Baghdad Provincial Council has allocated 20 billion IQD (almost $17 million) from its 2012 budget to install sophisticated surveillance cameras across the province. Baghdad Council member Mohammed al-Rabee said there are not enough cameras in Baghdad currently and the stardard are poor, with cameras operating only for limited periods rather than around the clock. This […]
A new agreement will see Iraq and Syria work together to complete the Al-Qa'im railway line and increase trade between the two countries, reports AKnews. The Iraqi Railways Company signed an agreement this week with Syrian Railways to construct the remainder of the railway line to reach the Iraqi border in the Al-Qa'im area, which […]
Dow Jones reports that Shell Lubricants, a subsidiary of Royal Dutch Shell PLC, has signed a contract with a local Iraqi company to distribute Shell lubricants in the Iraqi market. The deal with Mared Iraq, a subsidiary of Malia Group, was signed in Erbil on Monday. Neither side gave an indication of the value of […]
Russian President Dmitry Medvedev (pictured) announced on Thursday that Russia would continue helping Iraq to become a democratic, independent country and to preserve its territorial integrity, something that meets the Iraqi people’s interests and is in line with regional stability and security. In a letter delivered to Iraqi Prime Minister, he also signaled Russia's readiness […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 1st March 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,339 / $1,469, -0.5% (weekly change). The number of weekly traded shares was 5.5 bn and the weekly trading volume was ID9.5bn ($8.1mn). ISX Company […]
