Try Iraq for a True Frontier Market
By John Lee. Writing in the Financial Times, a partner at a London-based financial advisory business suggests Iraq as a true frontier market investment. Citing precedents such as Japan in the early 1960s and Russia in 1995, Richard Greer, a partner at Laurel Capital Kingsway LLP, says: "The greatest opportunities for emerging market investors have […]
Over 2.5m Tourists Visited Iraq in 2012
By John Lee. Azzaman reports that more than 2.5 million tourists visited Iraq in 2012, most of them on pilgrimage to the country’s holy shrines. Data issued by the Ministry of Antiquities and Tourism show that Iraq has become a top destination for Muslim, mainly Shiite, tourist. The numbers are reportedly the largest since the country […]
New Italian Ambassador to Iraq
By John Lee. Minister of Foreign Affairs, Hoshyar Zebari, has received a copy of the credentials of new the Ambassador of the Republic of Italy, Mr. Massimo Marotti, at a ceremony on Sunday morning. During the meeting, they discussed the developing relations between the two countries and their people in all areas, and the Minister […]
Housing Ministry Signs Deals for 18,000 New Units
By John Lee. Iraq’s Minister of Housing and Reconstruction, Mohamed Sahib al-Daraji [Mohammed Al-Deraji] (pictured), has announced that the Housing Fund has finalised contracts with nine investment companies to build new housing complexes. Together, these projects will provide 18,000 residential units. The minister added that the relevant engineering, technical and legal commissions are working on […]
US "Holds 80,000 Iraqi Antiquities"
By John Lee. Azzaman quotes a senior official at the Ministry of Antiquities and Tourism as saying that the United States still keeps 80,000 ancient Iraqi artifacts and refuses to return them to the Iraq Museum. Hazem al-Shammari said Iraqi authorities were in touch with their American counterparts but the discussion have so far led […]
Suicide Bomber Assassinates Sunni MP
A suicide bomber has assassinated a Sunni MP in Fallujah on Tuesday. Ayfan Sadoun al-Essawi [Ifan Saadoun], a member of the secular Sunni-backed Iraqiya bloc, was targeted as he inspected a road being constructed to the south of the city. Two of the MP's bodyguards were killed and four other people wounded. The attack comes […]
CBI Expects 9% Growth, Reserves of $105-$110bn
By John Lee. The Acting Central Bank Governor, Abdul-Basit Turki, has told Reuters that Iraq’s economy should grow 9 percent this year, as it increases its oil production. He also predicted international currency reserves of between $105 billion and $110 billion by the end of this year. Central Bank predictions for last year were for […]
AnaeCo, Repindo, sign MOU for Basra Waste Project
AnaeCo and Repindo Resources have signed a MOU to cooperatively explore the implementation of AnaeCo’s DiCOM™ Alternative Waste Technology (AWT) at a suitable site in Basra. Under the terms of the MOU the parties will consider the technical and commercial feasibility of deploying AnaeCo’s patented DiCOM™ solution, under licence in Basra. AnaeCo would manage the […]
Foreign Minister Receives United Nation's Kobler
By John Lee. Foreign Minister Hoshyar Zebari has met with Mr. Martin Kobler, Representative of the Secretary-General of the United Nations (UNAMI) in Iraq. During the meeting they discussed the mandate of the UN Mission in Iraq and its role in helping Iraq, and the role of the Mission to assist in the upcoming electoral […]
Video: US "Divided Iraqis on Sectarian Lines"
From Iran’s PressTV. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. A political analyst tells Iran's PressTV that the US divided Iraqi society on ethnic lines and promoted a sectarian-based political culture in the region. The comments came after tens of thousands of Iraqis […]
WHO Attaining Universal Coverage
The World Health Organization (WHO) completed the first step of assessing alternate means of health financing in Iraq based on social health protection. Health financing is a key area identified for modernization of the health sector in Iraq. The Government has expressed a willingness to engage in a dialogue with the aim of making the […]
"Rocky Road Ahead" for Asiacell IPO
By John Lee. Doubts have been expressed regarding Asiacell's ability to raise the record $1.27 billion planned in its forthcoming IPO (initial public offering). According to a report from International Financing Review, observers are said there is a strong possibility the deal may not go through. "The thing about these three Iraqi mobile companies is […]