KRG Pres Barzani meets Russian FM Lavrov
Russian Foreign Minister Sergey Lavrov hosted President Masoud Barzani in the Russian Foreign Ministry on Thursday for discussions on "bilateral relations" and the situation in Iraq and Syria. In today’s meeting, both sides emphasized the need to strengthen relations between Russia on the one hand and Iraq and the Kurdistan Region on the other. Foreign […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 21st February 2013). Please click here to download a table of listed companies and their associated ticker codes. ID1,639 / $1,773 (+0.3%) (weekly change). The number of week traded shares was 7.6bn and the weekly trading volume was ID17.6bn ($14.7mn). ISX Company […]
Iraqi Kurdistan 'Will to Achieve' Key to Success
By Mustafa al-Kadhimi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. There is no secret behind the success of the Iraqi Kurdistan Region on the economic and service levels. The region endured, until 2003, extremely tough security and political circumstances that affected […]
Cheap Imports may "Destroy" Cement Industry
By John Lee. The State Company for Cement Industries says cheap, low-quality imports of cement are making it hard for it to sell its products, reports Azzaman. The company’s director-general, Nasser Idris, warned that the industry might collapse without immediate state support. Idris did not say where the cement was imported from, but added that […]
Refinery Plans Raise Arab-Kurdish Tensions
By Bassem Francis, translated from Al-Hayat (Pan Arab) for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Justice and Reform Movement in Nineveh has refused to build an oil refinery in a region they see as being “occupied by Kurdistan and monopolized by […]
Iraqi Billboard Co Expands into Jordan
By John Lee. The Iraqi outdoor billboard company Diyar Outdoor is expanding its services to neighboring Jordan through a strategic partnership with Rafed Billboards. Diyar Outdoor will start offering clients the choice of Outdoor billboards networks in Iraq and Jordan. According to the company's press release, Diyar Outdoor is the leading outdoor poster/billboard advertising company in […]
Zebari Participates in Arab-Russian Cooperation Forum
Foreign Minister Hoshyar Zebari has participated in the first session meeting of the Arab - Russian Cooperation Forum in Moscow. The session was chaired by the Russian Federation Minister of Foreign Affairs, Sergey Lavrov. Present at the meeting were Hoshyar Zebari, Iraqi Minister of Foreign Affairs as Iraq is current President of the Arab Summit, […]
NBK Makes Custody Breakthrough
By Mark DeWeaver. In a move that is likely to mark the start of a new era for the Iraq Stock Exchange (ISX), National Bank of Kuwait (NBK) has begun offering custody support services for ISX-listed shares through its 80%-held subsidiary Credit Bank of Iraq. This is arguably the most important step forward for the […]
Jan Crude Exports Slightly Up
By John Lee. Iraq exports 73.1 million barrels of crude oil in January, bringing in revenue of $7.672 billion. This corresponds to a daily rate of 2.36 million bpd, very slightly up on the December rate of 2.348 million bpd. A spokesman for the Oil Ministry, Asim Jihad said that export rates and revenues had […]
Iraq Opens $219m Power Plant
By John Lee. Iraq's deputy prime minister for energy affairs, Hussein al-Shahristani, has opened a new gas-powered electricity plant in southern Baghdad. The plant has four 125-megawatt generators and cost $219 million to build, he said. Iraq Business News understands that the plant was constructed by the Korean company Hyundai. (Source: Al-Shorfa)
IBBC Signs Pact with Basra
At a ceremony in Basrah on Thursday (21st) the Iraq Britain Business Council Executive Chairman Baroness Nicholson signed a memorandum of understanding with the Governor of Basrah Dr Khalaf A Khalaf, signalling a new era of close co-operation. Dr Khalaf said the agreement meant: "Basrah regards the IBBC as the door to the UK." Meanwhile […]
KRG President Barzani meets Russia's Putin
Russian President Vladimir Putin received President Barzani in Moscow for discussions on strengthening bilateral relations and to build on the historic friendship that exists between the people of Russia and the people of Kurdistan. Today’s meeting focused on economic and cultural cooperation as well as on the role of Russian companies in the reconstruction process […]