Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 26th March 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,144 / $1,200 (-5.9%) (weekly change) ) (-17.9% and -19.0% YTD change, respectively). The number of week traded […]
New School for Pilots in Baghdad
Airways Aviation is opening its latest Aviation Theory School in Baghdad later this month, paving the way for aspiring Iraqi pilots to launch their flying careers. The new Iraqi school, equipped with modern teaching facilities including a flight simulator, is located in the education precinct close to the University of Baghdad and will offer several […]
Luxemburg Pledges Support to Kurdistan
On Saturday, the Head of KRG Foreign Relations, Minister Falah Mustafa, received Mr. Jean Asselborn, Minister of Foreign and European Affairs of Luxemburg and his accompanying delegation to discuss strengthening of bilateral relations as well as developments in the region. Minister Mustafa welcomed Minister Asselborn in his first visit to Kurdistan and expressed the desire […]
Imported Goods Crowd Out Local Production
By Wassim Bassem for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Qasim al-Rubaie, a teacher from Babil province, told Al-Monitor in front of a grocery store, “You will not find any Iraqi grown vegetables and fruits. Instead you'll find imported goods from Jordan, […]
Contractor Pleads Guilty in Iraq Bribes Case
By John Lee. A man extradited from Iraq to the United States has pleaded guilty to conspiracy to commit wire fraud, and to two charges related to leaving the country after his arrest. Metin Atilan, who has dual Turkish and U.S. citizenship, was charged with conspiring to pay bribes and kickbacks to win a contract […]
Is the Shiite Revival Here?
By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. In the book "The Shia Revival: How Conflicts within Islam Will Shape the Future," Vali Nasr, an Iranian-American researcher on the crises in the Middle East, came to the conclusion in 2006 […]
3G Should Bolster Telco Revenues
By John Lee. A telecommunications analyst has said that the recent launch of 3G services in Iraq should stabilize the revenue and profit of Iraq’s mobile phone operators this year, following the difficulties caused by the war against the Islamic State (IS, ISIS, ISIL). Omar Maher of EFG Hermes told Reuters that 2016 could see high […]
Cyprus to Open Office in Erbil
Minister for Foreign Affairs of the Republic of Cyprus, Ioannis Kasoulides, received Minister Falah Mustafa on Thursday to discuss bilateral ties between the Kurdistan Region and the Republic of Cyprus as well as latest developments in the wider region. In welcoming Minister Mustafa and his accompanying delegation, Foreign Minister Kasoulides said, “We are determined to […]
Profile: Qassem Suleimani
Iraqi army and militia forces are fighting to take back Tikrit from the so-called Islamic State. Pulling the strings on the Iraqi side is an Iranian: Major-General Qassem Suleimani, the 'shadow commander' who has been described as the single most powerful operative in the Middle East. As the leader of the foreign branch of Iran's […]
EarthLink chooses Level 3
Level 3 Communications has announced it has been selected by internet and communication solutions provider, EarthLink Telecommunications -- the largest Internet Service Provider in Iraq -- to provide the secure global connectivity needed to support enterprise customers from EarthLink's Middle East location. EarthLink's 400-plus points of presence enable its customers to communicate in its local market. Yet the company faced the challenge […]
Turkey Confirms Iraqi Oil Exports Worth $3bn
By John Lee. Turkish Energy Minister Taner Yildiz (pictured) said on Thursday that oil shipments from Iraq via Turkey now amount to 47 million barrels since the beginning of last. He told a news conference that 57 tankers have loaded Iraqi crude at Ceyhan, bringing revenues of $3 billion (3.6 trillion Iraqi dinars). (Source: Reuters)
Copperchase Wins Hyundai Contract
By John Lee. UK-based Copperchase has won a $6 million (7.2 billion Iraqi dinar) contract with Hyundai Engineering & Construction to build a new security fence at Karbala oil refinery. The company used a £200,000 loan from the Tees Valley Catalyst Fund loan, which is managed by FW Capital, to secure the performance bond it […]