Iraq's core annual inflation rose to 6.3 percent in May from 6.1 percent in April, a senior official at the Central Bank of Iraq told Reuters on Sunday. The agency reports that the figure is driven by the cost of imported goods and services, especially healthcare. Inflation had previously risen from 5.5% in February to […]
The Iraq Stock Exchange has announced that it has launched the dissemination of real time and delayed Iraq Stock Exchange (ISX) market data in conjunction with DirectFN, popularly known as Mubasher in the Middle East. The launch is part of the ISX plan to allow local and foreign investors to view real-time stock prices for […]
Emirates will commence passenger flights to Baghdad from the 13th November 2011, marking the airlines’ second destination in Iraq. Operating four times per week Baghdad will be Emirates’ fifth international destination to launch in 2011 with Basra and Geneva already operational and Copenhagen and St Petersburg to follow on 1st August and 1st November respectively. […]
Kuwait's Arabian Beverage Company (ABC), which distributes water, juice and dairy products in the Gulf region, plans to boost production and also aims to penetrate the Iraqi market this year, according to Reuters. The company, owned by Kuwaiti conglomerate Bukhamseen Holding [Bukhamsin], founders of Kuwait International Bank and Abu Dhabi listed First Gulf Bank, wants […]
Iraqi Prime Minister Nouri al-Maliki met with the German junior minister for transport, construction and town planning, Jan Moga, and said he was keen to develop relations with Germany. Maliki stressed the importance of enhancing bilateral relations in economic spheres and to benefit from the German expertise in building factories and training Iraqi staff. In […]
The following editorial was published on Wednesday by the Voice of America. The Voice of America, founded in 1942, is among the world’s most trusted sources of news and information. VOA is a multi media broadcasting organization based in Washington, D.C. Expanding economic opportunity in Iraq is as essential as building democratic institutions. The United […]
Shell and Petronas have awarded Dubai-based Dodsal Group a $106m contract to lay a pipeline at the Majnoon oilfield, an Iraqi oil official said. Reuters reports that under the deal, Dodsal Group will build a 79-km (50-mile) pipeline to carry oil from the supergiant Majnoon oilfield to a crude storage depot near Zubair in southern […]
Iraq’s cabinet has approved a $692 million [810 billion Iraqi dinar] contract for the construction of a cement factory in southern Iraq, according to Arab News. Government spokesman Ali Al-Dabbagh (pictured) said the factory will be built in Diwaniya province, 150 km south of Baghdad, and will cover an area of about 185 acres. The […]
A UN working group said on Thursday that Iraq should tightly regulate private security firms to prevent abuses by their employees when they stay on in the country after a scheduled U.S. military withdrawal. While the number of incidents involving private military and security companies in Iraq has decreased in recent years, the Government should […]
The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. […]
US Secretary of State, Hillary Rodham Clinton, didn't mince her words: "According to the IMF, Iraq is projected to grow faster than China in the next two years. Now, let me repeat that, because when I read it I said, okay, are you sure because we always think of China as being the juggernaut? But […]
Lukoil is interested in seeking exploration licenses in Iraq, according to a report from Bloomberg. The company's Chief Executive Officer, Vagit Alekperov, met Iraq's Oil Minister, Abdul Kareem al-Luaibi [Elaibi], in Moscow on Wednesday. Alekperov and al-Luaibi also discussed the West Qurna-2 project, and development of infrastructure to ship oil from the field. (Source: Bloomberg)
