Mid-Euphrates Airport Gets Go-Ahead
The Mid-Euphrates provinces of Babel, Karbala and Najaf have reportedly agreed to build a new airport in Babel province. Babel Deputy Governor, Engineer Ali Abdul Siheil, told AIN that the airport will be built by the French Company EDB at a cost of $2 billion. “There were extended meetings held among the representatives of the […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 28th February 2013). Please click here to download a table of listed companies and their associated ticker codes. ID1,693 / $1,832 (+3.3%) (weekly change). The number of week traded shares was 13.1bn and the weekly trading volume was ID24.6bn ($20.5mn). ISX Company […]
Iraqi Finance Minister Resigns
By John Lee. Iraq's finance minister Rafaie Al-Esawi [Rafe Al-Issawi, Rafie al-Issawi] (pictured) has announced his resignation on Friday morning, according to a report from Reuters. Addressing crowds of Sunni Muslim protesters in the Sunni heartland of Anbar, he said: "I came today in order to announce my resignation from this government in front of you […]
$4bn Russian Arms Deal to Go Ahead
By Ali Abel Sadah for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraqi government is awaiting the parliament’s approval of the 2013 federal budget to pay Russia the money owed for the weapons deal. Meanwhile, Iraqi and Russian officials have confirmed that […]
Genel Energy Full Year Results
Genel Energy plc has announced its preliminary audited results for the year ended 31 December 2012. Highlights Consolidated our position as the leading independent oil and gas producer in the increasingly attractive Kurdistan Region Current production capacity of circa 80,000 bopd (net), with 2012 average net working interest production of 44,500 bopd in line with […]
US and Health Ministry to Improve Healthcare
The U.S. Embassy, through the U.S. Agency for International Development (USAID) and the Iraqi Ministry of Health, hosted the Second Annual Conference of Primary Health Care and Preventive Medicine in Baghdad February 26 - 27. The Iraqi Minister of Health, Dr. Majeed Hamad Ameen, and USAID Deputy Mission Director, David Harden, attended the conference. USAID […]
KRG President Approves 2013 Budget
By John Lee. The President of Kurdistan Region, Massoud Barzani (pictured), has approved the budget for 2013, officials from Ministry of Justice from KRG said. This follows the budget's approval last week by a majority of the Kurdistan parliament. (Sources: Kurdsat, AIN)
Video: Iraqi Turkmen Demand Own Defence Force
Violence is increasing in Iraq near the disputed Kurdish-controlled northern territory. The Turkmen population there wants to have its own defence force. Several attacks have killed dozens of people in the past six months in the city of Tuz Kharmato. Al Jazeera's Jane Arraf reports: (Source: Al Jazeera)
UK Minister: "The Opportunities are Fantastic ..."
By Padraig O'Hannelly. As we approach the tenth anniversary of the US-led invasion and the overthrow of Saddam Hussein's regime, there is much speculation about how the country and indeed the world would now look had Western powers not intervened. And while that speculation may be interesting, it can be no more than an educated […]
Weekly Security Update
By Tom Walker, Director, Assaye Risk. (Please click on graphics to view.) COUNTRY OVERVIEW This week in Iraq has been somewhat calmer than the previous reporting period with a noted decrease in attack tempo. There were decreases in the number of civilian fatalities with a reported total of approx. 57 fatalities country wide […]
Iraq/UK Energy Cooperation Growing Stronger
By Mark Simmonds, United Kingdom's FCO Minister for International Energy. Iraq is retaking its position at the energy top table. After decades of economic mismanagement and political repression, the country is emerging as one of the most important and dynamic global energy producers. Oil production has increased by over 50% in the last six years, […]
Petrofac Updates on Iraqi Operations
By John Lee. In its final results for the year ended 31st December 2012, oil and gas service provider Petrofac issued the following updates on its operations in Iraq: Badra oilfield development project, Iraq In February 2012, we were awarded a US$330 million lump-sum EPC contract by Gazprom for the first phase of the Badra […]