The World Bank says it expects Iraq's gross domestic product (GDP) to grow by 12.6 percent in 2012, and 10.2 percent in 2013, following a growth of 9.6 percent last year. If achieved, this would give a compound growth of 36 percent in just three years. This follows a downward revision of growth expectations for […]
Iraqi authorities plan to install about 250,000 surveillance cameras in Baghdad in an attempt to reduce insurgent attacks in the capital, according to AKnews. The Chairman of the the Security Committee of Baghdad's provincial council, Abdul Karim al-Tharb, told AKnews that the council has allocated about 10 billion Iraqi dinars (about US$8 million) to the […]
Basra Investment Commission is moving to new headquarter. The head of the BIC said that "the location of the new office in the center of the city and its proximity to the provincial council in Basra and the Office of the province of Basra ... will facilitate the work of the Commission and its staff." […]
PRweek reports that the Iraqi unit of Kuwaiti telecoms company Zain has hired PR agency support in advance of its listing on the Iraq Stock Exchange. The firm has been planning an initial public offering (IPO) in Iraq since the summer and has asked London-based M:Communications to support communications relating to the listing process. M: […]
The Baghdad Company for Gas Turbines Ltd. has announced that it has won the contract to rehabilitate the Mullah Abdulla power plant in Baghdad. The company's managing Director, Mr. Mumtaz Rushdi, signed the deal for the 11units on Friday. When completed later this year, the plant will provide more than 250 MW of power. (Source: […]
Iraqi health authorities have decided to build 18 hospitals throughout the country with an total budget of US$2 billion, according to a report from AKnews. Adil Mohsen, General Inspector at the Health Ministry, told AKnews that the majority of the hospitals will have at least 100 beds and will be constructed according to international standards. […]
ShaMaran Petroleum has signed a final binding agreement with the Kurdistan Regional Government (“KRG”) to relinquish to the KRG the 60% working interests currently held in each of the Arbat and Pulkhana Production Sharing Contracts (“PSC”). Under the terms of the agreement the PSC for each of the Pulkhana and Arbat blocks is terminated whereby […]
A member of the Dutch parliament, Van Bommel who is currently in Kurdistan Region on an official visit, said that the Netherlands is willing to increase its representation in the semi-autonomous region. During a meeting with President of the Kurdistan Region, Massoud Barzani, he said that the goal of his visit to Kurdistan is to […]
In an initiative to support developing Iraqi business segments, Emirates has announced a 75 per-cent additional capacity increase between Dubai and Baghdad, growing its services to seven flights per week. Starting from 2nd February 2012, EK941 will depart daily from Dubai at 07:55am touching down at Baghdad International Airport at 09:40am the same day. At […]
flydubai, Dubai's pioneering low cost airline, added to its expanding network yesterday with the start of flights to Baghdad. flydubai’s inaugural flight, FZ215, took off from Dubai Terminal 2 at 1355hrs yesterday, landing at Baghdad International Airport at 1545hrs. In addition to Erbil and Sulaimaniyah, the four-times weekly flight to Baghdad increases flydubai’s presence in […]
A spokesman for Iraq's Ministry of Oil recently told Al Jazeera that unexplored regions of Iraq could yield an additional 100 billion barrels of oil, and that Iraq's production costs are among the lowest in the world. Additionally, the report says that only about 2,000 wells have been drilled in Iraq to date, compared with […]
Iraq's Oil Ministry announced on Wednesday that it has discovered a new oil field in the Missan [Maysan] province, and described it as the biggest achivement in 30 years. According to the report from AKnews, the Iraqi Oil Minister Abdul Kareem Luaibi [Elaibi] told a press conference: "Iraqi Oil Company and the Southern Oil Company […]
