Kurdistan Payment Delays Cause Dana Gas Bond Default?
By John Lee. Dana Gas may become the first United Arab Emirates (UAE) company to fail to pay an Islamic bond on maturity, according to a report from Reuters which cites "three sources familiar with the matter". Shares in the UAE's largest listed natural gas firm fell more than 4% on the Abu Dhabi Securites […]
Iran's Kurdistan Region Exports $416m Commodities to Iraq
By John Lee. The Customs Director of Iran's Kurdistan Province has said that $416-million worth of commodities have been exported to Iraq from this western province since the start of current Iranian year, March 20, 2012. Talking to the Iranian news agency IRNA, Mohammad Shahbazi said this represented an increase of 21 percent compared to […]
New Bridge Completed in Samarra
By John Lee. Iraq's Minister of Housing and Construction, Mohamed Sahib al-Daraji [Mohammed Al-Deraji] (pictured), has announced the completion of a concrete bridge in Samarra, in Salahadin province. In a statement he said the bridge was 384 meters long and cost 21 billion Iraqi dinars ($18 million). (Source: Aswat al-Iraq)
Al-Radwan Does $17m Deals in Sept
By John Lee. The Al-Radwan state company, which is part of the Ministry of Industry and Minerals, has concluded contracts worth more 20 billion Iraqi dinars ($17 million) in September. The Director General of the company, Majed Merza al-Jaf, said "the company contracted with the Ministry of Education to equip them with 550 caravans, [and […]
Nassiriya Needs Entertainment Centres
By John Lee. Nassiriya suffers from a lack of facilities for family entertainment, which force most families to go to other provinces, mainly during eids and other holidays. Analysts and activists accuse the government of disregarding violation of "green zones" in Iraq. The Iraqi Housing Director, Bassam al-Jaberi, told Aswat al-Iraq news agency: "Nine years […]
Football Star Eyes Iraq Broadband Business
By John Lee. The broadband company belonging to former Irish international soccer player and Sunderland boss Niall Quinn (pictured) is reported to be considering entering the Iraq market. The Irish Independent reports that his company, QSat, has formed a partnership with another Irish company, Altobridge, that could take it into Iraq, where Altobridge already provides […]
US Army Can’t Show Delivery of $1bn Fuel to Iraq
By John Lee. The Special Inspector General for Iraq Reconstruction (SIGIR) has reported that U.S. Army Corps of Engineers (USACE) did not establish effective internal controls to document that goods and services paid for using DFI funds were received in Iraq. SIGIR sampled 12 DFI-funded payments, totaling about $1.1 billion, made to USACE and found that […]
Iraq and the US Elections: Who Actually Cares?
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. Over the past two decades the outcome of the US presidential elections has been hotly debated by Iraqis. However this year, the approaching American cliff-hanger hardly […]
Bad Weather Halts Basra Oil Exports Again
By John Lee. Bad weather on Sunday forced Iraq to cut exports from its southern oilfields from 2.35 million barrels to just 792,000 barrels. Port officials have said that things should start to pick up again on Monday, according to the report from Agenzia Giornalistica Italia. The same thing happened last week when adverse weather […]
45 New Oil Wells Drilled in Maysan
By John Lee. The Missan Oil Company has announced the completion of 45 new oil wells in the province as well as the rehabilitation of a number of old wells. The Director General of the Company, Ali M'arij, told AIN that "the Chinese company PetroChina drilled 30 new oil wells and rehabilitated six old ones […]
Iraq Ratifies Nuclear Protocol
By John Lee. The Iraqi Ambassador to Austria, Surood Rashid Najib, has met the Director General of the International Atomic Energy Agency (IAEA) Yukiya Amano at the IAEA headquarters in Vienna, and notified him that the Iraqi authorities have ratified the additional protocol to their comprehensive safeguards agreement and it has therefore entered into force. […]
Kurdish Villagers Demand Compensation for Forced Evacuations
By Abdul-Khaleq Dosky. 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. Almost 30 years ago they were forced from their land so Turkish military could freely hunt rebels across the border. Now the Kurdish villagers, who have […]