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 […]
Foreign Minister Meets Russian Ambassador in Baghdad
By John Lee. Iraq's Foreign Minister, Hoshyar Zebari, has met the Russian Ambassador, Mr. Elia Murgunov, and handed him a reply message to his Russian counterpart Sergei Lavrov in response to his letter. The meeting was attended by Undersecretary for Policy Planning, Chairman of the Department of Europe and the Director of the Office of […]
Pakistan's Lucky Cement Enters JV in Iraq
By John Lee. Lucky Cement, which claims to be the largest manufacturer of cement in Pakistan, has entered into a joint venture for a cement grinding plant in Iraq, according the The News. "The contract for the supply of plant and machinery for this project has been signed and the project team, as well as […]
Overly Friendly Neighbours: Iran’s Influence in Iraqi Kurdistan
By Histyar Qader. 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. What plans do Iranian diplomats have for Iraqi Kurdistan? Recently there have been high level visits from both sides and locals say the Iranians, a major […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 25th October 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,457 / $1,576 (+1.3%) (weekly change). The number of week traded shares was 4.8bn and the weekly trading volume was ID6.5bn ($5.4mn). Note: There will […]
Iraqi Police Storm Central Bank, Arrest 36
By John Lee. Iraq's Interior Ministry says its forces have stormed Central Bank building in Baghdad and arrested 36 officials on suspicion of corruption. “A security force belonging to the ministry implemented an arrest warrant issued by the judicial council against a numerous officials of the Central Bank without any problem,” the ministry said in […]
Northrop Grumman Equips Iraqi Patrol Vessel
Advanced communication, sensor and navigation systems from Northrop Grumman have been installed on the Iraqi offshore patrol vessel, the Al-Fayhaa, which along with the Al-Basrah will conduct security missions in the northern Arabian Gulf According to a report from UPI, the systems for the first of two patrol vessels, procured by the U.S. Navy for […]
WorleyParsons Awarded Contract Extension at Rumaila
By John Lee. WorleyParsons has been awarded a $90m contract extension by BP Iraq NV, and its partners PetroChina and Iraq's State Oil Marketing Organization (SOMO), to continue providing engineering, procurement and management services to boost production from the super-giant Rumaila oilfield in Southern Iraq. In November 2009, BP and its partners entered into a […]
Iraq to Increase November Oil Shipments
By John Lee. Bloomberg reports that Iraq will keep the number of shipments of Basrah Light crude from the Persian Gulf unchanged in November compared to October, but will increase the total volume. According to the loading program, Iraq will ship 46 cargoes from the al-Basrah Oil Terminal (ABOT) (pictured). Exports will total 73.9 million […]
MP Rules Out Deleting Zeros from Currency Soon
By John Lee. Iraqi MP and member of the Parliamentary Economic and Investment Committee, Nahida al-Dayni, has ruled out deleting the zeros from the Iraqi currency soon. Speaking to All Iraqi News Agency (AIN), she said: "The process of deleting the zeros from the Iraqi currency will not be done soon due to the lack […]
Erbil International Fair Attracts over 850 Companies
Advertising Feature Senior Kurdistan Regional Government representatives opened the 8th annual edition of the multi- sector trade fair, Erbil International Fair 2012, which was held under the auspices of the Kurdistan Regional Governmentfrom 15 to 18 of October 2012. This year’s edition, the biggest ever since the show’s beginning in 2005, attracted over 850 companies […]