The Chairman of the National Investment Commission, Dr. Sami Al- Araji, announced that 125 companies of various nationalities have submitted offers to implement the 'One Million Housing Units' project [National Housing Project] throughout Iraq, and says that 35 companies from that list will be chosen. Dr. Araji explained that the project will be built on […]
The Central Bank of Iraq has instructed private banks to raise at least $7 billion in fresh capital over the next three years to be able to handle an expected oil-fueled construction boom, according to the Wall Street Journal. Ahmed Ibraihi, Vice Governor of the Central Bank of Iraq, told the newspaper on Wednesday that […]
Iraq is aiming to become a major oil and gas supplier to Japan, Baghdad's oil minister, Hussein al-Shahristani, said on Wednesday after a meeting with Japanese officials. The Minister also said that Japan offered economic aid in the form of loans and investments to help build Iraq's infrastructure. The statement was released following a meeting […]
Karbala Council has issued an appeal to its citizens not to pay the new domestic electricity tariffs introduced by the Ministry of Electricity this month, according to AKnews. The head of Karbala’s energy and fuel commission, Zuhair Samil al-Da’mi, told the agency that the ministry’s ten-fold increase was “completely unfair” in the light of the […]
Taylor-DeJongh, a leading energy and infrastructure investment banking firm, and Phoenix Capital LLC, a Baghdad-based investment bank, announced on Wednesday that they have entered into a strategic partnership to create the first Washington-Baghdad financial services firm. The partnership will provide specialist industry knowledge and financial expertise to both international and Iraqi public and private sector […]
Kurdistan's Prime Minister, Barham Salih, asserted that Kurdistan has had a successful oil policy and that any prospective government must allow the region to manage its own oil autonomously, according to a report from Rudaw. Due to the policy under which the Kurdistan Regional Government (KRG) has signed dozens of contracts with foreign companies independently […]
Iraq is meeting with Royal Shell Dutch to finalise a draft of a $12 billion deal to develop a gas-structure project in southern Iraq, and may sign a deal by the end of this year, a senior Iraqi oil official told Dow Jones Newswires on Tuesday. "There is a meeting being held in Basra to […]
Iraq's government will today start to discuss a $86.4 billion draft budget for next year, a 20% increase on 2010. The budget for 2011 is based on an oil price of $70 per barrel, Finance Minister Baqir Jabr al-Zubaidi [Zubeidi] told the newspaper As Sabah. Iraq's crude oil exports rose 9 percent in September to […]
Bloomberg reports that Japanese consumers are being warned about an investment scam selling Iraqi dinar on predictions the currency will surge in value. A man in western Japan spent 2 million yen ($25,000) to buy 500,000 Iraqi dinar ($428) after a caller recommended buying the currency because it was expected to gain as much as […]
German companies have offered to build 1,000 low-cost housing units in Karbala within an integrated housing neighborhood project for a total cost of $16.5 million, according to a report from Aswat al-Iraq. “A delegation representing a German consortium offered to Karbala's Governor Amal al-Din al-Hirr, and Provincial Council Chief Muhammad Hameed al-Moussawi, a project consisting […]
A Kurdish official has reported that USAID, the United States Agency for International Development, has allocated $80 million to develop the health sector in Iraq. Speaking to AKnews on Tuesday, Khalis Qadir, spokesman for Kurdistan's Health Ministry, said USAID announced the allocation on Monday in a conference in Tikrit, 140 km northwest of Baghdad. The […]
Baghdad International Fair expects its largest participation since the 2003-U.S. invasion when it starts its 37th session next week, according to a report from Azzaman. The fair’s director-general, Sadeq Sultan, said the 10-day fair will see 1,200 foreign firms taking part as well 15 foreign countries. This is quite a change from the 300 companies […]
