The international nature of business in Iraq can be seen clearly in the short-list of companies selected to bid for the new $18-billion pipeline to the Jordanian port of Aqaba: The 17 companies represent 11 different nationalities. Over the past week alone, we've also seen a Japanese and Malaysian consortium start commercial production of oil […]
The sectarian violence continues in Iraq, with 80 people killed in a wave of bombings across Baghdad on Wednesday. But despite the best efforts of the terrorists, Iraq still presses ahead with its development, and foreign companies continue to seize opportunities to contribute to the country's growth and prosperity. In recent days, for example, we've […]
Iraq's Ministry of Electricity has just promised that shortages will be eliminated by the end of the year. Readers of Iraq Business News will remember a previous commitment, made in strident terms just four months ago, to end blackouts by the end of October. Ministry spokesperson Musaib Mudaris claims the country now produces around 11,000 […]
Dear Readers, Iraq Business News would like to apologise for being unavailable for several hours on Thursday. The downtime was caused by an air-conditioning failure at our data centre, which meant that servers had to be switched off to prevent over-heating. The problem was beyond our control, and has now been resolved. We know that […]
Amidst all the news of increased violence in Iraq, this week has seen many positive news stories, including a $700-million contract win for Daewoo at the Akkas gas field, and the shares of two oil explorers rebounding strongly. But staying on energy matters, we cannot escape the continuing problem of reduced oil exports. Sabotage of […]
On Wednesday, the United Nations Security Council extended the mandate of the United Nations Assistance Mission for Iraq (UNAMI) until 31st July 2014, so it can "continue to advise and support the country, which has been hit by the worst violence in years, to progress on the path to stability and development". In a unanimously […]
As Ramadan approaches, we draw your attention to the AMAR International Charitable Foundation’s 2013 Ramadan Box Appeal (advertised on this website). The Appeal will provide less fortunate Iraqi and Lebanese families, and refugee Syrian families, with essential food items during the Holy Month of Ramadan. AMAR’s wide network of Women Health Volunteers will be deployed […]
Iraq's neighbour Iran has elected a “moderate conservative”, Hassan Rohani, to be its new President, a contrast to his predecessor Mahmoud Ahmadinejad, who was more openly belligerent. The extent to which this is a real change is debated, with many sources, not least in Israel, taking a more sceptical view of developments. Iran is, of […]
Who is the biggest winner from the recovery in Iraqi oil production? Denise Natali, a Middle East expert at the National Defense University in Washington, told the New York Times: “The Chinese are the biggest beneficiary of this post-Saddam oil boom in Iraq ... They need energy, and they want to get into the market.” […]
It has been a rough couple of weeks in Iraq, with a string of major attacks bringing the death toll for the year to nearly 2,500. But despite the upsurge in sectarian attacks, the country is still managing to make progress on a number of fronts. In the energy sector, for example, Shell has announced […]
By Padraig O'Hannelly. At Iraq Business News we've always been clear that Iraq is a land of both opportunities and risks. The challenge for any investor or businessperson has always been to decide what risks are worth taking, and at what price. In the investment arena, real out-performance can only come from having a different […]
With so much gloomy news around, it is good to find some analysis that shows the other side of the story: A report just issued by Sansar Capital suggests that shares in Iraq's banking sector may be ripe for a re-rating. Key to the report's findings is the argument that Iraq's banks are exceptionally well […]
