Iraq Bond Issue Shelved Again
The recent surge in sectarian violence has sent Iraq's bond yields higher, prompting officials to postpone a planned debt sale. Deputy Finance Minister Fadhel Nabi told Bloomberg: “We will definitely issue new bonds, but it will take more time now with all the problems in the country.” The news agency also reports that the yield […]
Lebanese Firm Wins Water Treatment Contract
A contract has been signed between the Lebanese company ViecoEast and Iraq's Al Fajr for waste water treatment plants. Delivery starts in January 2014. Vidoe of the signing can be viewed below: (Source: ViecoEast)
World Bank Approves $335m Road Fund
From The World Bank. A new project will reduce traffic fatalities by nearly 25 percent on two transport corridors connecting Iraq to its northern, southern and western neighbors and beyond. The US$355 million Iraq Transport Corridors Project, approved by the World Bank Board of Directors on Thursday, will improve road quality and safety and promote […]
More Iraq Business for Bell Helicopters
The US Army has issued an $18.5-million contract to Texas-based Bell Helicopter Textron to supply an additional six months of contractor logistics support for the Bell 407 (pictured), UH-1 Huey, 206 JetRanger and OH-58 (A and C models) in Al Taji, Iraq. Work will take place in Iraq and at Piney Flats, Tenn., with a […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 19th December 2013). Note: ISX will be closed during December 27, 2013 - January 6, 2014 due to the end-of-year closing operations. The last session of this year will be on Thursday, December 26, 2013 and trading will resume on Tuesday, January 7, […]
US Congratulates Iraq on Social Safety Net
The U.S. Embassy in Baghdad congratulates the Government of Iraq (GOI) on its launch of the Social Safety Net (SSN) program. The Social Safety Net helps ensure that unemployed and disabled Iraqi citizens have access to sufficient financial aid and benefits from the government. Many vulnerable Iraqis will benefit from this important system. The U.S. […]
Video: Overview of Iraq's Social Safety Net
From USAID/Tarabot. This video provides an overview of the historic accomplishment of the Iraqi government and those who support them - the rollout of the country's first social safety net. The video features interviews from both project staff and members of the Iraqi government, such as Nassar al-Rubaie, Iraq's Minister of Labor and Social Affairs:
Min. of Oil Statement on Maysan Refinery
Following the recent article by our Expert Blogger, Ahmed Mousa Jiyad, Iraq's Ministry of Oil has issued a statement regarding Satarem's involvement with the Missan [Maysan] refinery project. The statement is carried here in full and unedited: Commenting about the news that was declared by the media, press & some websites about the memorandum of […]
Turkish Firm to Build Exxon Pipeline
By John Lee. Energy Global reports that the Turkish construction firm EID Insaat is to build a 120-km pipeline for ExxonMobil in Iraq. The $90-million project is expected to take approximately one year to complete. The company Chairman said that this was in addition to an 85-km long pipeline project currently under construction. The Iraqi […]
Astra Upgraded due to Iraq Steel Mill
By John Lee. Aljazira Capital has raised its rating on Astra Industrial Group to overweight from neutral after the Saudi industrial conglomerate started a new steel millin Iraq. The Jeddah-based investment bank was initially expecting the melt shop of 450,000 metric tons/year of billet and mill of 300,000 mt/y of rebar to begin operations in […]
MAG Boosts Iraq Shipping Capacity by 60%
By John Lee. Dubai-based MAG Container Lines (MCL), a division of the multinational MAG Group, has added three new automated vessels to its existing fleet on the UAE-Iraq route. According to the report from TradeArabia, the addition of the Al Hussein, MAG Bride (pictured) and MAG Pearl boosts the company's potential capacity on the route by 60 […]
JICA Updates KRG on Latest Activities
The Chief Representative of Japan International Cooperation Agency (JICA), Shohei Hara, met with the Head of the Department of Foreign Relations, Minister Falah Mustafa, on Tuesday to discuss JICA’s new projects in the region as well as other areas of mutual interest. The meeting was also attended by the Assistant Head of the DFR, Siham […]