Belhasa Projects Wins New Contract in Iraq
Aquascapes, the swimming pools design and construction division of UAE based Belhasa Projects has won new projects in Iraq and Maldives. In Erbil, Iraq, the company has won contracts for landscape design for a luxurious villa and a hotel. According to Malay Shah, General Manager, Aquascapes: "We are excited to enter the landscape design market […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 8th September 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,382 / $1,495 (+0.4%) (weekly change). The number of week traded shares was 5.7bn and the weekly trading volume was ID11.6bn ($9.7mn). ISX Company Announcements […]
14 Wells Drilled at Bazargan Oil Field
The Director General of Missan Oil Company has announced that 14 of the 20 oil wells at Bazargan [Bazirgan] oil field have been drilled. He said that Weatherford accomplished the drilling operation in record time, and they were working on three of the remaining six wells. The wells have provided production capacity of 6,900 bpd. […]
Iraq’s First Super Hercules
The first of six C-130J Super Hercules for the Iraqi Air Force recently completed its first flight at the Lockheed Martin facility in Marietta, Georgia. The Iraqi Air Force intends to use the C-130J for intra-theater support of its troops and humanitarian relief operations in various locations. These new transport aircraft will provide Iraq with […]
Iraqi Mobile Phone Operators Appeal Against Fines
Iraq's three main mobile phone companies -- Zain, Asiacell and Korek -- have appealed against a communications regulator decision to fine them for failing to list on the local stock exchange, reports Reuters. Iraq's Communications and Media Commission (CMC) fined the companies for missing the August 2011 deadline to list on the local bourse, which […]
Ministry to Announce New Pre-Import Inspection Contracts
A spokesman for Iraq's Ministry of Planning and Development has said the ministry will announce the three contracts pre-import inspection next week. The Ministry has completed the final touches on the contracts for the international companies from France, Switzerland and Denmark, said Abd Al-Zahra al-Hindawi. Bureau Veritas of France, and Swiss company SGS, had been […]
Kurdistan Oil Dispute Must be Resolved Soon
By John Lee. The Kurdistan Regional Government (KRG) has extended its deadline for the federal government to pay the money it says it is due in respect of oil exports to 15th September, after which time it will again halt exports of Kurdish crude. Baghdad, on the other hand, has threatened to trim Erbil's budget […]
Zain Iraq has Bank Funds Seized for Unpaid Fine
By John Lee. Zain Iraq has had its funds seized in all Iraqi banks until it pays a $262 million fine for selling 5 million SIM cards without permission, Bloomberg reports. “We have warned them to pay the fine,” Ahmad al-Omari, a member of the Communications and Media Commission’s trustee board, told the news agency. […]
Baghdad may Cut Kurdistan Budget over Oil Dispute
By John Lee. Iraq's central government is considering trimming federal budget payments to the country's Kurdistan by more than $3 billion to cover losses it says came from the autonomous region's oil exports, reports Reuters. Ali al-Moussawi, advisor to Prime Minister Nuri al-Maliki, said a committee found losses of more than $3 billion resulting from […]
Iraq to make Gas Exploration Deals more Attractive
By John Lee. An Iraqi Oil Ministry spokesman has said the Ministry will make future energy exploration contracts more lucrative, to encourage foreign firms to compete in auctions for exploration blocks. "Economic and financial aspects will be reviewed in light of our experiences", said Assem Jihad. "The final details of the contracts will be worked […]
Automobile Factory to be Built in Sulaymaniya
By John Lee. Sulaymaniya's general directorate of investment has said that a local company called 'Mario' is building an automobile factory on a 22 hectare (90 donum) site. The company will initially import parts from China and assemble them at the new plant; at a later stage the factory will also make the parts itself, […]
Zeros "Cannot be Removed from Iraqi Currency During 2013"
By John Lee. Iraq's deputy Minister of Finance has said the three zeros cannot be removed from Iraqi dinars during 2013 because no preparations have been made. According to the report from AKnews, the Iraqi Central Bank and people have been saying for four years that the zeros in the Iraqi currency will be erased […]