Iran has signed a preliminary agreement to build a natural-gas pipeline to export the fuel to Syria through Iraq, the Syrian Arab National Agency has reported. The accord, signed on Thursday during Iranian Oil Minister Masoud Mir-Kazemi's visit to Syria, also provided for further cooperation in the construction of an oil refinery in Syria with […]
The Iraqi oil ministry has agreed with its Kurdish counterpart to pay exploration costs and expenses to the foreign firms working in the Kurdistan Region of Iraq, according to a report from Reuters. Spokesman Asim Jihad told the agency that the State Oil Marketing Organisation (SOMO) will be responsible for payments to the companies, which […]
The Iraqi Stock Exchange announced that it held 237 trading sessions last year, during which the 25.56 billion shares worth 400 billion dinars ($339m) changed hands. The Director of the Iraqi Securities Market, Taha Ahmed Abdul Salam, said the market index (which includes 40 companies) closed at 10,098 points in the last session of 2010. […]
According to a report from AKnews, the Media director of the Iraqi ports announced on Wednesday that Maaqel [Maaqal] port in Basra has established all the facilities required to receive the first shipment of oil equipment for Shell's Majnoon oil field in north of the province. Anmar al-Safi told the agency that Iraq's Transport Ministry […]
The Chief Executive Officer of Sweden's Scania AB, Leif Oestling, will be called for questioning by a Swedish prosecutor over allegations that the truckmaker violated United Nations sanctions against Iraq, Dagens Industri reported, citing an interview with the prosecutor. Prosecutor Nils-Eric Schultz will ask Oestling whether his employees may have violated sanctions without his knowledge, […]
Business Monitor International (BMI) has published a new report on the oil industry in Iraq. Summary: BMI forecasts that Iraq will account for 10.27% of Middle East (ME) regional oil demand by 2015, while providing 11.56% of supply. Middle East regional oil use of 4.98mn b/d in 2001 will rise to an estimated7.40mn barrels per […]
The Iraqi Grain Board has just issued a new tender for the supply of 30,000 tonnes of rice. Offers are to be received by 10:00 am (Baghdad time) on 31st January. Please click here for more details.
Let's start with a little test: Can you rank the following economies in order of the expected risk of their defaulting on their sovereign debt – Ireland, Argentina, Dubai, Greece, Iraq? The correct order, based on the cost using credit default swaps (CDS) to insure their debt against default, is: Greece (riskiest), Ireland, Argentina, Dubai, […]
The number of reconstruction and housing projects undertaken by the Kurdistan Regional Government (KRG) rose by 24 in 2010, with a value increased by $83m. According to the KRG Ministry of Reconstruction and Housing, in 2010 some 368 projects were completed in the three provinces. The overall value of the projects funded by the ministry […]
This year will see the creation of 171,000 new jobs, according to the latest ruling by the Iraqi parliament. Azzaman reports that the new jobs are part of the government's efforts to fight unemployment but officials say they will not alleviate unemployment in the country, which they estimate at more than 15%. Iraq has one […]
Baghdad municipality has signed a contract with a Turkish company, Akdneiz, to clean up the city while statistical figures show high unemployment rates. According to the contract, the districts of Karkh, Rusafa and Karrada [Karadah] in central Baghdad will be cleaned up by Akdeniz for a period of one year. Iraq's Central Statistics Agency (CSA) […]
The Deputy Prime Minister of Iraq, and the Trade Minister, Roze Nouri Shawis met the Egyptian Trade and Industry minister, on Monday to discuss ways to increase trade between the two countries. Shawis told AKnews that the meeting dealt with the mechanisms to support and promote Arab economic cooperation with Iraq, especially in the Kurdistan […]
