According to Iraq's own data, aside from possessing the world's second largest crude oil reserves, the country also possesses important gold and diamond reserves. The Iraqi government is thus hopeful that gold mining can be an increasingly profitable venture for the country. According to officials in Baghdad, Iraq has huge gold producing potential. Nevertheless, senior […]
In addition to the Iraq Container Terminal in Umm Qasr port, Basrah Province, the Gulftainer Group is fully engaged in Iraq aiming to provide the port, transport and logistics links so necessary to assist in ef cient redevelopment – all the way from Zakho in the North (on the Turkish border) to Umm Qasr in the […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 8st March 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,343 / $1,474, +0.3% (weekly change). The number of weekly traded shares was 16.1 bn and the weekly trading volume was ID25.8bn ($21.8mn). ISX […]
Shell has announced that it has granted a $63 million contract to build an electricity generation plant for its gas capture project southern Iraq to Swiss engineer ABB Ltd. Jasser Hanter, general director of the Shell gas project, told reporters that ABB will build two 25 megawatt power plants at Khor al Zubair. The $17 […]
Kurdistan Region's President Masoud Barzani on Wednesday, 7 March, confirmed Nechirvan Idris Barzani as the new Prime Minister of the Kurdistan Regional Government and tasked him to form the 7th Cabinet. This follows the decision on February 17 by the Kurdistan Parliament to nominate Nechirvan Barzani for the post of prime minister and Imad Ahmed […]
Path Solutions has announced the successful go live of iMAL at Cihan Bank, Erbil. Cihan, the first privately owned bank in Kurdistan first partnered with Path Solutions in October 2009 on this multi-lingual, multi-currency and multi-channel implementation. Specifically in this deployment, Path Solutions implemented the following scope in line with the bank’s expectations: Retail Financing, […]
Harris Corporation (NYSE:HRS), an international communications and information technology company, has received a $51 million order from the Government of Iraq to provide high-performance tactical communication solutions for a range of security missions. Iraq is acquiring radios and accessories from both the Harris Falcon II and Falcon III families for its security forces. As part […]
Shwan Taha, chairman of Rabee Securities, talks about foreign-investment opportunities in the Iraqi Stock Exchange. Taha speaks on Bloomberg Television's "InBusiness with Margaret Brennan." (Source: Bloomberg)
As part of the celebrations for Baghdad being named as the capital of Arab culture for 2013, Iraq will invest 5 billion Iraqi dinars ($4.2 million) in its film industry, according to a report from Variety Arabia. Dr Shafiq Mahdi, the director general of the department of Cinema and Theatre, announced that the department has approved […]
Heritage Oil has announced that it has commenced drilling the Miran East-1 exploration well in the Kurdistan Region of Iraq. Highlights The Miran East-1 exploration well has commenced drilling with a second rig on the Miran Block in Kurdistan This is the first well to be drilled on the large, highly prospective Miran East structure, […]
The U.S. Department of State’s Office of Iraq Affairs has hosted a Doing Business in Iraq Workshop in Washington, D.C, where over 100 U.S. businesses interested in all sectors of the Iraqi economy registered. The workshop is part of a larger initiative that aims to engage, educate, and support U.S. businesses as well as provide […]
Platts reports that the Iraqi oil minister, Abdul Karim Luaibi [Elaibi], has approved the sale of Statoil's 18.75% stake in the giant West Qurna-2 oil field to the project operator, Russia's Lukoil. Meanwhile, Reuters reports that the Norwegian oil giant has confirmed that it is in talks to sell its stake to Lukoil. "Both Lukoil and […]
