Shares in Hill International (NYSE:HIL) jumped 59% on Thursday following the company's announcement that it has received a contract from TRAC Development Group, a South Korean real estate developer, to provide project management and construction management services in connection with a major housing development in Iraq. In addition, Hill's majority-owned subsidiary HillStone International, LLC has […]
The Iraqi government has allocated $2 billion [2.4 trillion Iraqi dinars] to build low cost housing for ‘limited income families’, the country’s Minister of Reconstruction and Housing, Mohammed Al Daraji, said during a press conference Baghdad.. The project should begin in 2012, provided that the Iraqi Cabinet determines the distribution mechanism. The minister said that […]
Following the Kurdistan Parliament’s approval of the regional budget for 2011, Prime Minister Salih's cabinet met on Tuesday 31 May to discuss distributing the budget efficiently and quickly in order to best serve the people of the Kurdistan Region. The meeting was co-chaired by Prime Minister Salih and Acting Deputy Prime Minister, Karim Sinjari. The […]
Ninety-five days ago, Nouri al-Maliki set himself, or more specifically, his ministers, a target: They had 100 days to improve public services and root out corruption. Since then, progress has been made in important areas such as the provision of electricity, but many of these projects will take time to implement. In the meantime, protests […]
Iraq signed an agreement with the Korea Gas Corporation (KOGAS) to begin developing the Akkas natural-gas field, an Oil Ministry official said, ending seven months of delays in progress at one of the country’s biggest deposits of the fuel. Representatives of KOGAS and Iraq's Ministry of Oil signed the contract on Wednesday in a ceremony […]
Iraq exported oil at a rate of 2.23 million barrels per day (bpd) in May, with record revenue this year of $7.4 billion, according to Falah al-Amri, chairman of the State Oil Marketing Organization (SOMO) Iraq sold crude at an average price of $108 a barrel last month, he said today in a telephone interview […]
According to a report today from Iraq Oil Report, union activists in Iraq's oil sector have been fined and relocated to remote locations as part of a campaign of seeming retaliation against their role in organising workers. The agency also says that following a separate stoppage at the Basra refinery in 2010, 16 workers were […]
UOP LLC, a Honeywell (NYSE: HON) company, announced that its technology has been selected for a new transportation fuel refinery to be built in Iraq. The State Company for Oil Projects (SCOP), under the Ministry of Oil for Iraq, has selected Honeywell’s UOP to provide key technologies to process 300,000 barrels per day (bpd) of […]
Aswat al-Iraq reports that a new investment commission was elected in Karbala on Monday. Nisai'if Jassim, the deputy chairman of Karbala's Provincial Council, told the agency that the previous commission has completed its legal term of three years service, and that five new members joined the commission. He hoped that the new commission will study […]
A business delegation from Bavaria spent a few days looking around Erbil and was very impressed with what they saw: from the security situation to the trade fair locations. Last but not least, they also enjoyed German draft beer in the Middle East, fresh from the tap. Iraq and the state of Iraqi Kurdistan need […]
Iraq's trade ministry has cancelled direct cash purchases of essential food items, such as sugar, wheat and rice, in a move to help prevent corruption, according to a report from Reuters. The change was announced as a 100-day target set by Prime Minister Nuri al-Maliki to improve his fragile coalition government's performance in the face […]
Former British Prime Minister Sir John Major concluded a historic three-day visit to the Kurdistan Region in which he received a warm welcome from officials and the public and praise for the bold decision he took in 1991 that laid the foundations for the progress and achievements in Kurdistan today. During his visit, the former […]
