Questions About Practices of Private Iraqi Banks
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. Privately held Iraqi banks have almost entirely relinquished their traditional functions — such as giving out loans, lending credit and issuing letters of credit — due to default risks. Instead, they are […]
US, Iraq to Improve Iraqi Agriculture
The U.S. Embassy, through the United States Agency for International Development (USAID), and the Iraqi Ministry of Agriculture (MOA), met from January 15 to January 17 to help Iraq improve its agricultural sector through the U.S.-funded Harmonized Support for Agricultural Development (HSAD) project. This project will improve agricultural investment opportunities and efficiency and introduce modern […]
Pres Barzani Hosts Annual Diplomatic Corps Mtg
President of Iraqi Kurdistan, Masoud Barzani, hosted foreign diplomats and representatives of international organizations based in Erbil last week to discuss the latest political and economic developments in Kurdistan and in Iraq and to reflect on 2012. The annual gathering, attended by Minister Falah Mustafa Bakir, Head of KRG Department of Foreign Relations, touched on […]
S. Korea's LS Industrial wins $67m Deal
By John Lee. South Korea's LS Industrial Systems has won a $67-million deal to build power distribution control centres for the Iraqi government. Under the deal with the Ministry of Electricity, the company will build seven distribution control centers across the country by early 2015. According to the report from Electric Light and Power, the centres […]
Shimadzu Sells X-ray Equipment to Iraq
By John Lee. Japanese precision equipment maker Shimadzu has won ¥1.5-billion ($17-million) worth of contracts from the Iraqi government. Japan Times reports that the machines — 106 for stomach X-rays and 27 for chest examinations — will be installed at public hospitals in Iraq from February. With the country expected to build new hospitals and […]
Video: British Energy Minister visits Baghdad
In the first visit by a British Energy Minister to Iraq since 2003, Mark Simmonds MP talks about his trip to Baghdad. (Source: UK FCO)
New Dorm Facilities for AUIS Students
Over 250 students moved into the American University of Iraq, Sulaimani’s new dorm facilities. The apartment-style rooms are spacious, modern, fully furnished, and located at the heart of the university's new 169-hectare campus. “We are thrilled about this transition and the change in the atmosphere on campus is palpable,” said Director of Student Services, Leah […]
Iraq Allocates $86m for Return of Expats
By John Lee. Iraq has allocated 100 billion Iraqi dinars ($86 million) for a project that aims to bring skilled expatriates back to Iraq in 2013, reports Mawtani. The Ministry of Migration and the Displaced announced last week that these skilled Iraqis will receive housing and work opportunities upon their return home. Sameer Nahi, the […]
Total CEO in Court for Oil-for-Food Trial
By John Lee. The CEO of Total, Christophe de Margerie (pictured), is to appear in a Paris court on Monday to fight charges of wrongdoing relating to the United Nations oil-for-food relief program in Iraq. Total, Vitol and 18 individuals, including de Margerie (61), are listed as defendants in the trial over claims the program […]
The American Film Showcase in Iraq
The U.S. Embassy in Baghdad hosted two well-known American film directors from January 3 to 14, 2013. Marilyn Agrelo and Roland Legiardi-Laura visited Iraq to show their documentary films and meet with established and aspiring Iraqi filmmakers as part of the U.S. Department of State’s American Film Showcase program. In Baghdad, the filmmakers visited the […]
Foreign Minister Meets Swedish Ambassador
By John Lee. Foreign Minister Hoshyar Zebari met the Swedish Ambassador to Iraq, Mr. Jörgen Lindström, in the Ministry buildings on Thursday. During the meeting they discussed economic and commercial relations and the mutual visits between officials of the two countries. They also discussed the Syrian crisis and the situation of Syrian refugees in neighboring […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 17th January 2013). Please click here to download a table of listed companies and their associated ticker codes. ID1,613 / $1,745 (-0.6%) (weekly change). The number of week traded shares was 23.3bn and the weekly trading volume was ID30.5bn ($25.4mn). ISX Company […]