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 […]
Vast Exploration Hands Back Qara Dagh Block
By John Lee. Vast Exploration has announced that along with its consortium partners, Niko Resources and Groundstar Resources, it has entered into a relinquishment and termination agreement with the Kurdistan Regional Government to surrender their collective interests in the Qara Dagh Block (pictured). Vast acquired a working interest in the block under a production sharing […]
Iraq Calls on Arabs to "Use Oil as Weapon"
By John Lee. Reuters reports that Iraq's representative to the Arab League said that Arab states should use oil as a weapon to put pressure on the United States and Israel over the attacks on Gaza. Qais al-Azzawy told reporters in Cairo on Friday: "Iraq will invite (Arab) ministers to use the weapon of oil, […]
"Mom-and-Pop Investors" Pin Hopes on Iraqi Dinar
By John Lee. Reuters reports that "thousands" of people are still speculating on a huge upward revaluation of the Iraqi dinar, which it describes as "one of the chanciest investments in the world". It quotes a Las Vegas-based speculator, who previously lost most of his retirement fund on the stock market, as saying: "It's not […]
Mudarabah and the Shapely Value
By Mark DeWeaver. I recently had occasion to bone up on Islamic finance while preparing for a meeting with Kurdistan International Bank (BKUI), Iraq’s largest Islamic bank. In the process, I noticed an interesting parallel between a form of financing known as mudarabah and a game theory concept I hadn’t thought about since my graduate […]
DNO Reports Record Output, Shares Fall
By John Lee. DNO International ASA, the Norwegian oil and gas company, today announced that gross production across its oil and gas portfolio has exceeded 100,000 barrels of oil equivalent (boe) per day for the first time, split two-thirds from the Kurdistan region of Iraq and the balance from Oman and Yemen. On a Company […]
Heritage Updates on Kurdistan Operations
Shares in Heritage Oil closed down 1.9 percent on Thursday, following the company's interim management statement. The companay gave the following update on its operations in Iraqi Kurdistan: Following the Initial Sale, HEME currently holds a 49% interest in the Miran Block and continues to act as operator. Miran West Initial work-over operations to prepare […]
Scania Discusses Modernisation of Iraqi Fleet
Iraq's Transport Minister, Hadi al-Amiri, has met the Manager Director of the Swedish truck company Scania, Gustav Sandel, to discuss ways to use the company's expertise in the development of Iraqi ground transportation. The ministry is reportedly in the process of developing and modernising its transport fleet, particularly road transport and passenger transport. (Source: NINA)
New Housing Complex to be Built in Karbala
Karbala Investment Commission has laid the cornerstone for the housing complex in the Zahra neighborhood in Hindiya district, southern Karbala. The deputy chairman of the Commission, Ahmed al-Maliki, said the project would involve 500 housing units, an elementary school, kindergarten, nursery, markets, public parks and infrastructure services. It will be built on a 60-acre site […]