The chief of industrial development in Duhok has said that 11 new factories were opened in the province in 2011, up from seven 2010. According to the report from AKnews, an additional five factories were sanctioned last year but they are yet to open. All the factories are of private sector. There are 546 factories […]
Food stocks in the governorate of Sulaimaniya are now less than two weeks according to Sirwan Mohammed, the head of Sulaimaniya Chamber of Commerce. He told AKnews that since last year his office has been demanding the government allocate land plots to the Chamber so that it can construct new storage units. He added that […]
A former U.S. Army contracting official has been sentenced to 12 years in prison for his participation in a bribery and money laundering scheme related to bribes paid for contracts awarded in support of the Iraq war. Eddie Pressley, 41, was also ordered to serve three years of supervised release following the prison term. The […]
The Sunday Times reports that Genel Energy Plc will announce a deal this week to buy a 40 percent share in Longford Energy's Chia Surkh oil field in northern Iraq. According to the report, the deal would be worth $70 million, and Genel, run by the former CEO of BP, Tony Hayward, declined to comment. […]
Iraq's State Oil Marketing Organisation (SOMO) has signed a deal to buy nearly 1.5 million tonnes of gasoil and petrol for delivery over the first half of the year, according to Gulf News. Gasoil It is set to purchase two cargoes of 16,000 tonnes each of 0.1 per cent sulphur gasoil every month from Vitol […]
The Ministry of Construction and Housing announced on Thursday that it has begun an affordable housing project which has an allocation of $2 billion (2,300 billion IQD) from the 2012 budget. Istabrak al-Shawq [Istabraq Al-Shouk] (pictured), the Under Secretary of the Ministry, told AKnews that the project will be completed within four years and three […]
Hill International (NYSE:HIL), the global leader in managing construction risk, has announced that it has been awarded a contract by the Iraqi Ministry of Youth and Sports to provide project management services in connection with construction of the new Al Anbar Olympic Stadium in Al Anbar, Iraq. The two-year contract has an estimated value to […]
AKnews reports that Iraq's Transport Ministry has officially agreed to award the contract for refurbishing 50 Iraqi trains to the Iranian Wadi al-Bar Company. A spokesman for Iraq's railways told the agency that the company will repair the trains and carry out maintenance at the rail depot and workshop at Samawa (pictured). The Transport Ministry […]
Maersk Line Limited, part of the Danish shipping and oil group A.P. Moller-Maersk, has agreed to pay $31.9 million to settle claims that it overcharged the U.S. military for transporting cargo to support American troops in Afghanistan and Iraq. The settlement resolves a whistleblower lawsuit filed by a former industry insider. The individual, Jerry Brown, […]
Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 5th January 2012). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,478 (-1.7%) / $1,622, -2.8%. The number of weekly traded shares was 1.9 bn and the weekly trading volume was […]
Diabetics in Kuwait, Iraq and Palestine can now use their mobile phones to receive personalized alerts and information on exercise and diet, thanks to a new mHealth service being offered by Qtel Group companies there. Qtel Group will soon be offering this service in other countries where it is present. Representatives from the Qtel Group […]
Najaf Refinery achieved a 30% rise in overall production in 2011 compared to a year earlier, the Director of the Najaf refinery said this week. Leith al-Gharrawi told AKnews that the refinery produced about 7.174 million barrels of petroleum, up from about 5 million barrels in 2010. The production of kerosene was also 30% higher […]
