Beechcraft Wins $16m Iraq Order
By John Lee. Hawker Beechcraft Corporation of Wichita, Kansas, has been awarded a $16,625,317 [19.4 billion Iraqi dinar] modification to a previously awarded contract for contractor logistics support for the Iraq Peace Dragon King Air 350 Program. According to the announcement from the US Department of Defense, the work will be performed in Iraq and […]
New Oil Minister Praises Kuwait
By John Lee. Iraqi Oil Minister Adel Abdul-Mahdi [Adil Abd al-Mahdi] has met with a Kuwaiti delegation led by the country's Ambassador to Baghdad, Ghassan al-Zawawi, to discuss cooperation in the energy sector. The Minister praised Kuwait for its economic and political support for Iraq, and praised Kuwaiti companies for their contribution to the development […]
Syscom 18 "Impacted by Iraq Woes"
By John Lee. Syscom 18, the Romanian-based system integrator for the oil and gas sector, is reported to be "grappling with" the effects of the ongoing conflict in Iraq. General Manager Ion Andronache told Business Review that projects worth “several millions of euros annually” are at risk and could have a negative impact on its turnover. […]
Currency Auction Results, 23rd Sept
By John Lee. The Central Bank of Iraq (CBI) has reported that 17 banks took part in its currency auction on Tuesday. A total of $217,007,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Erbil, Iraq and the ISIL Offensive
By Robert Tollast. The following is an interview with an Iraqi finance professional with a degree in Accounting and Finance. He is also a Chartered Certified Accountant with extensive experience in Banking. He returned to Iraq in early 2013 and now works as a Portfolio Manager, travelling across Iraq but residing in the Iraqi Kurdistan. He was kind […]
Iraq Energy Sector: Reality & Expectations
Iraq Energy Sector: Reality & Expectations by Ahmed Mousa Jiyad, Iraq/ Development Consultancy and Research, Phone: (+47) 5659 5699 Email: [email protected] I was the guest speaker kindly invited by Brussels Energy Club (BrEC) for this season’s event that took place in Brussels on 11 September 2014. The event was limited to BrEC members and personal […]
$18m Contract to Support Iraqi Navy
By John Lee. Swiftships Shipbuilding of Morgan City, Louisiana, is being awarded an $18-million [21 billion Iraqi dinar], not-to-exceed contract for "the accomplishment of continuous lifecycle support for the Iraqi navy." The contract will provide technical expertise in preventative and planned maintenance, emergent repairs, and platform overhaul support services for Iraqi patrol boats, off-shore vessels, […]
UK Trade Mission Visits Kurdistan
Some of Britain’s most successful businessmen and women will fly to Erbil tomorrow (September 23rd) on a Trade Mission designed to show the UK’s continuing support for the resilience of the Kurdistan region of Iraq’s infrastructure, society and economy. Organised by the Iraq Britain Business Council (IBBC), the group will spend three days meeting senior […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 18th September 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,547 (-0.1%)/ $1,669 (-0..1%) (weekly change) (-17.1% and -16.0% YTD change, respectively). The number of week traded shares […]
Currency Auction Results, 22nd Sept
By John Lee. The Central Bank of Iraq (CBI) has reported that 18 banks took part in its currency auction on Monday. A total of $186,236,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
PM calls to end Boycott of Saudi Products
By John Lee. Newly-appointed prime minister Haidar al-Abadi has called for an end to the boycott by a number of governorates of products from neighbouring countries, including Saudi Arabia. He urged those provinces to instead develop their economies through regional cooperation, particularly with neighbouring states. A number of provincial councils, including Baghdad, Basra and Najaf, […]
China to open Consulate in Erbil
Prime Minister Nechirvan Barzani today received Mr Tan Banglin, envoy from China's Foreign Ministry appointed to be the first Chinese consul general in the Kurdistan Region. Mr Banglin said that he was very pleased to visit the Kurdistan Region, stating that he has arrived in the Region during this difficult time to express China’s solidarity […]