Iraq Closes in on Big Oil Deals but Short of Power

Awash with oil, Iraq is poised to ink several mega oil deals that will vault it into the top ranks of world oil producers, but the war-shattered country is back to grappling massive power shortages after a brief respite. Peak winter consumption of electricity due to heaters being run has resulted in what appears to […]

CBI Dollar Sales Up by 55% on Thursday

The Central Bank of Iraq (CBI) dollar sales rose by 55% to reach $227.190 million in its daily auction on Thursday, compared to $155.251 million during the previous session. “The demand hit $16.480 million in cash, covered at exchange rate of 1,170 Iraqi dinars per dollar, and $210.710 million in foreign transfers outside the country, […]

3 Arab & Foreign Companies Wish to Invest in Karbala

Three delegations of Arab and foreign companies have visited Karbala to implement investment projects in it, a media spokesman for Karbala investment commission said on Wednesday. “The delegations visited the city to be acquainted with the investment opportunities and its needs,” Raed al-Asali told Aswat al-Iraq news agency. “The companies are; a Bahraini interested in […]

Gov’t Approves Investment Plan to 500,000 Residential Units

The Iraqi Council of Ministers has approved an investment plan to build 500 thousand residential units throughout Iraq. “The Council also authorized the finance minister to sign any complementary contracts with respect to the deals to purchase airplanes from Bombardier Aerospace and The Boeing Company,” Dr. Ali al-Dabbagh, the official spokesperson of the Iraqi government, […]

Conference in Turkey on Investment Opportunities in Basra

A delegation from Basra province headed on Tuesday to Turkey to attend a conference next Thursday on investment opportunities in the southern province, an official source said. “The delegation is chaired by Governor Sheltagh Aboud and includes a number of the local council,” Mahmoud al-Taan, the official of the industrial development committee, told Aswat al-Iraq news […]

Iraq Ministry of Trade to receive $1bn loan

The Iraqi Ministry of Finance has announced that it will loan the Ministry of Trade $1bn to secure its needs. A statement issued by Finance's media office, said" Minister of Finance al- Zubeidi ordered Iraqi Bank for Trade to loan the Ministry of Trade with $1bn to pay the dues of tradesmen and settling their […]

Kurdish PM and Iraq Finance Minister Tackle Outstanding Issues

The Prime Minister of Iraq’s Kurdistan region, Barham Saleh, has received the Iraqi minister of finance, Bayan Jabr, to discuss pending issues between Baghdad and Arbil, an official statement said on Tuesday. “The visit has been devoted to outstanding financial issues between the federal government and the Kurdistan Regional Government (KRG),” read the statement that […]

Baghdad Mayoralty Rebuilds Salhiya Compound

The campaign to rebuild the Salhiya residential compound has begun, the Baghdad mayor’s office said on Monday. “The Baghdad Mayoralty also released the second dispatch of compensation funds to people affected by the terrorist bombing on August 19, 2009,” said the release that was received by Aswat al-Iraq news agency. The bombing targeted the Salhiya […]

Babil PRT Initiate the Establishment of a Canning Factory

The provincial reconstruction U.S. team of Babylon proceeded, to create the first plant of its kind in Iraq for canning honey, the team opened several centers for breeding queen bees north of the province. President of beekeepers in Babylon, Nabil al-Jubouri , said the American reconstruction team in the province through the Assembly proceeded to […]

Etisalat to Decide on Iraq Market Soon

UAE-based telecom operator Etisalat will make a decision on how to get into the Iraqi market this month, a company executive told Reuters on Monday. Jamal Jarwan, head of Etisalat's international operations, said the company was considering bidding for a license in the war-torn country or tying up with Kurdish Iraqi operator Korek Telecom.

Iraqi Telecom Sector on the Threshold of a Promising Phase

Ericsson, one of the world leading providers of telecom services and equipment, participated in the two-day Iraq Telecoms Conference as a major sponsor. The event was held recently in London. The Conference focused on ' integrating business and technology in Iraq to highlight the huge business potential and opportunities for broadband in the country. It […]