Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
By John Lee. Habtoor Leighton Group (HLG) chairman, Riad Al Sadik (pictured), has said Leighton's name “became very, very bad in Iraq” in 2012 following the bribery scandal. “HLG was definitely affected,” he told The Australian. “It took us quite some time to clean this up.” The company sacked a senior manager last year as […]
The Iraqi embassy in Cairo says there are "no further plans" regarding an oil pipeline from Iraq to Egypt, but confirmed that Iraq's State Company for Oil Projects (SCOP) signed an agreement for the export of oil to Egypt. "There is currently an agreement between us, but we haven’t yet received any official communications from […]
By Tom Walker, Director, Assaye Risk COUNTRY OVERVIEW With the local elections looming and little progress in the Al-Anbar / Nineveh election standoff Iraq continues to be gripped by election related violence with the first high impact attack against a political rally taking place this week. As of close of play 07 Apr the […]
Iraqi press sources claim that the Ministry of Electricity has ceased dealings with the German company Siemens and all its subsidiaries, due to the company not fulfilling its contracts. The spokesperson of the Ministry of Electricity, Musab al-Mudaris, reportedly said that Minister Kareem Aftan gave the instruction during a meeting with the South Korean company Hyundai […]
By John Lee. Nihad Mossa, director general of the Ministry of Oil's State Company for Oil Projects (SCOP), told The Jordan Times on Monday that Jordan and Iraq have signed an $18-billion agreement to build a double pipeline that will supply Jordan with crude oil and natural gas. He added that the Iraqi government is keen […]
By John Lee. Rigzone reports that the Iraqi oil ministry is planning to auction the giant 'Nasiriya Integrated Project' -- which involves the development of a $4.4-billion oil field and the building of a 300,000 bpd refinery in southern Iraq -- on 19th December. At a workshop in Amman, Jordan, for international companies interested in the […]
By John Lee. AIN has reported that the Prime Minister and the Chairman of the Supreme Investment Council of Kurdistan Region, Nechirvan Barzani (pictured), confirmed the government policy of supporting people on low incomes by granting them housing units. Following a meeting for the Supreme Investment Council, that was attended by the Deputy Chairman Emad […]
Siemens Turkey and Japan’s Toyota Tsusho are to build 24 electricity distribution centres in Iraq, in a deal worth $81 million. Hurriyet Daily News reported that the two companies signed a deal to join forces in the transformer station project, which have a total capacity of 31.5 megawatts. Siemens will manufacture the products in both […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 28th March 2013). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,652 / $1,786 (-1.4%) (weekly change). The number of week traded shares was 19.4bn and the weekly trading […]
By Tom Walker, Director, Assaye Risk COUNTRY OVERVIEW After the elevated levels of violence last week, especially high impact bombings, Iraq has this last week seen a hiatus in insurgent attacks and activity. Whilst the daily churn of violence remains omnipresent and suggest a continued strengthening of the Sunni insurgency, the country has been spared […]
After over thirty three years of continuous presence in Iraq, the CMA CGM Group is pleased to announce the opening of its new bonded Dry Port* near Baghdad, in the Abu Ghreib [Abu Ghraib] area, in Iraq, in June 2013. Exclusively managed and operated by CMA CGM, the Dry Port will be the only one […]
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The strenuous efforts exerted to handle the housing crisis were quickly rendered useless when the ratified 2013 general budget did away with the allocations for the housing fund, which was to […]
