Total Cleared of Iraqi Corruption
By John Lee. A Paris court has cleared oil company Total, its chief executive Christophe de Margerie (pictured), and over a dozen other defendants of corruption charges related to the UN's oil-for-food programme in Iraq. The former interior minister Charles Pasqua, the Swiss oil trader Vitol, and a former French ambassador to the UN, were […]
Wyndham Opens First Hotel in Iraq
Wyndham Hotel Group, the world’s largest hotel company with approximately 7,380 hotels and part of Wyndham Worldwide Corporation (NYSE: WYN), has announced its entrance into Iraq with the opening of the newly-built, 71-room Ramada Sulaymaniyah Salim Street in Kurdistan. The hotel opened on the same day as the Ramada Plaza Beirut Raouche in Beirut, Lebanon. […]
India "Interested in Importing LNG from Iraq"
By John Lee. Reuters reports that India said it is interested in importing liquefied natural gas (LNG) from Iraq, with imports of the cleaner fuel becoming attractive after New Delhi decided to raise prices of locally produced gas from April 2014. Iraq has emerged as the second-biggest crude oil supplier to India after supplies from […]
JPMorgan Expands Iraqi Business
By John Lee. JPMorgan Chase is the latest international bank after Citigroup and Standard Chartered to expand business in Iraq, reports Bloomberg. The company has just signed a one-year agreement to help the Trade Bank of Iraq (TBI) finance imports of goods and services, John Gibbons, managing director and EMEA regional executive, told the news […]
Iraq Free of Chapter 7: The Good and Bad
By Nawzad Mahmoud and Miran Hussein. This article was originally published by Rudaw, and is re-published by Iraq Business News with their kind permission. The lifting of the United Nations’ Chapter 7 sanctions against Iraq is receiving mixed reaction among Iraqis, with some welcoming the move and others worried about its impact, given existing ethnic, […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 1st July 2013). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,862 (-0.2%) / $1,984 (-0.5%) (weekly change). The number of week traded shares was 34.0bn and the weekly […]
Kent State to Host Iraq, Libya Programs
Kent State University will host scholars from Iraq and Libya for 10 weeks this summer as part of the Fulbright Visiting Scholar Program. The prestigious program is sponsored by the Council for International Exchange of Scholars and supported by the U.S. Department of State’s Educational and Cultural Affairs Bureau. This is the second year that […]
KRG Minister Visits London
The Minister of Agriculture and Water Resources, Professor Baban, is visiting London from 10th to 12th July. The Middle East Association (MEA), in partnership with British Expertise, invite you to attend this event at Bury House on Wednesday 10th July, 3pm-5pm. The event will include a short presentation followed by Q&A and an opportunity to […]
ABB Wins Iraqi Smart Grid Contract
ABB, the global power and automation technology group, has won an order from LS Industrial Systems (LSIS) to deliver a utility communications solution that will serve seven electricity distribution control centers in Iraq. The project is part of a larger infrastructure improvement initiative currently being carried out by the Ministry of Electricity in Iraq, aimed […]
Provinces to Manage More of Own Oil Wealth?
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. An Iraqi researcher has advised the councils of oil- and gas-producing provinces to take advantage of a loophole in the new amendment to the provincial law recently passed by the Iraqi […]
Citigroup May Fund Iraq-Jordan Pipeline
By John Lee. Forty companies are reported to be bidding for contracts to build and finance the new pipeline from Haditha to Jordan’s Red Sea port of Aqaba (pictured). Nateq Balasem Khalaf, deputy director general of the state State Company for Oil Projects (SCOP), told Bloomberg that Citibank is among the bidders, adding that other […]
Min. Falah Mustafa receives new US Consul
The new US Consul General in the Kurdistan Region, Mr. Joseph Pennington, met with Minister Falah Mustafa yesterday as part of his introductory meetings. He was accompanied by the outgoing Consul General, Mr. Paul Sutphin, and the Head of Political/Economic Section at the US Consulate General in Erbil, Mr. Stephen Gee. During their meeting, the […]