Prime Minister Opens Hilla Gas Power Station
By John Lee. Prime Minister Nuri al-Maliki has inaugurated the new Hilla gas-powered electricity station in Babil province. Ministry of Electricity spokesman Musab Al-Mudarris said that the station's total power is 250 MW, using two 125-MW GE generators. The project was carried out by the Al-Hurra International company at a cost of $84 million, under […]
Dubai's DAMAC in New Iraqi Deal
DAMAC Properties has announced the signing of a memorandum of understanding (MoU) with Al Fao General Engineering Company a subsidiary company of the Iraqi Ministry of Housing and Construction to further develop projects in Iraq. The agreement was reached during a high-level visit to the Iraqi capital Baghdad where DAMAC Executives met with the Minister […]
Federal Budget to Include Loans for Industrialists
By John Lee. A member of the Parliamentary Economy and Investment Committee has told AIN news agency that the 2013 federal budget will include low-interest loans for the industrialists. MP Abdul Hussein Abtan said: "The industrial sector needs such projects because it needs money and support after the embargo imposed on the country during the […]
Number of Iraqi Students in the USA Growing
The United States Embassy in Baghdad is pleased to announce a 71% increase in the number of Iraqi graduate students and a 31% increase in the total number of Iraqi students who studied in the United States in the 2011-2012 academic year over the previous year. According to the Open Doors Report on International Educational […]
Why Iraq’s Ration Card Can’t be Scrapped
By Hassan Latif al-Zubaidi. This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. It’s not the first time the Iraqi government has tried to abolish the ration card system. And it won’t be the last. Kufa University’s Hassan […]
KRG and UK Discuss Closer Relations
A senior delegation from the Kurdistan Regional Government discussed ways to further strengthen bilateral relations with the UK at a meeting with Britain's Minister for the Middle East, Alistair Burt. Falah Mustafa Bakir, Head of the KRG Department of Foreign Relations, and Professor Serwan Baban, Minister of Agriculture and Water Resources, met Mr Burt while […]
Total Says Unclear if Iraq Wants it to Exit Halfaya
By John Lee. The chief executive of French energy giant Total, Christophe de Margerie (pictured), has said that it is not clear if Iraq wants the company to withdraw from the Halfaya oilfield due to its dealings in Iraqi Kurdistan. Total recently acquired a 20 percent interest in the Taza oil exploration block there from […]
Video: Shahristani on Oil Market, Production Outlook
Iraqi Deputy Prime Minister for Energy Hussain Shahristani speaks to Reuters about crude production in the country and the global oil market outlook. (Source: Reuters)
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 15th November 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,502 / $1,625 (+2.3%) (weekly change). The number of week traded shares was 43.1bn and the weekly trading volume was ID39.9bn ($33.3mn). ISX Company Announcements […]
Opposition? What Opposition? The Incredible Shrinking Iraqiya Party
By Mustafa Habib. This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Since it lost the race to power in 2010, major opposition bloc Iraqiya has been shrinking, with defections and internal dissent. Now two leading members want […]
Foreign Firms Win $290m Hospital Deals
By John Lee. Iraq's Ministry of Health has announced that it will build two 400-beds hospitals in the provinces of Kirkuk and Muthanna. Azzaman reports that the Ministry has signed contracts totalling $290 million with foreign companies to build the hospitals, which are part of a plan to construct 11 such facilities. A Turkish firm is […]
Maysan Province Seeks to Control Local Oil Fields
By John Lee. A member of the Energy Committee in Maysan Provincial Council has called on the Ministry of Oil to grant the province the right to take part in running the oil sector in the province, according to a report from AIN. Ammar Nasrallah told the news agency: "We call to apply the constitutional […]