Is Iraqi Kurdistan a Democracy or a Monarchy?
By Zanko Ahmad. 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. Two families in Iraqi Kurdistan seem to reserve all the top political jobs for relatives. Recently the ‘crown princes’ both got new, high level jobs. The […]
ISX 'Hidden Gems' Await Discovery
By Mark DeWeaver. The ISX-listed industrials are best known for their main products, which include everything from polyvinyl chloride pellets (used for plastics production) to refrigerators and air conditioners. These companies are typically partially state-owned holdovers from Saddam Hussein’s time. Many have difficulty competing with imports. Often their factories are overstaffed, have obsolete machinery, and […]
A Preliminary Look at 2012 Foreign Commercial Activity
By Jared Levy, Senior Middle East Analyst at Dunia Frontier Consultants. Dunia Frontier Consultants tracks foreign commercial activity (FCA) in Iraq, defined as investments, service contracts or any other form of commercial activity undertaken by non-Iraqi companies inside Iraq. An analysis of this data is undertaken annually in Dunia Frontier’s end-of-year Foreign Commercial Activity in […]
WesternZagros Up on Q2 Results
By John Lee. Shares in WesternZagros Resources were up more than 3% on Thursday as it announced its operating and financial results for the second quarter ended June 30, 2012. Headlines: WesternZagros completed a private placement with Crest at Cdn$1.40 per share for $57 million at an approximate 10% premium to the August 4 closing […]
Dates Announced for Kurdistan Oil & Gas Conference
Building on last year’s success, CWC Group is proud to announce the second Kurdistan-Iraq Oil & Gas Conference, taking place 3-5 December 2012 in Erbil, Kurdistan Region of Iraq. H.E. Ashti Hawrami, the Kurdistan Regional Government's experienced Oil Minister who continues to successfully pioneer Kurdistan's energy sector, has once more given his support and endorsement […]
OPEC Delays Talks on New Secretary General
Reuters reports that OPEC has delayed a meeting of officials to help select its new secretary general, putting off delicate talks that could reignite rivalry for influence as Saudi Arabia, Iran and Iraq seek the top post. A panel of officials was initially planned to convene at OPEC's Vienna headquarters during August, but the meeting […]
Iraq, Iran Water Dispute Escalates
Despite increasingly strong links between Iraq and Iran, a disagreement has broken out at ministerial level about Iran's use of water from the Wand River [Wind, Alwand, Hulwan]. According to a report from NINA, Iraq's Trade Minister, Khairallah Babekir [Khayri-allah Babakir, Khairallah Hassan Babiker], has said that he will not sign trade agreement with Iran, […]
Iraq, Reaching Out Internationally
By John Lee. If anyone ever doubted the international nature of business in Iraq, just look at the nationalities making the business news in the past week: Iraqi, Turkish and Italian firms building new bridges; Indonesia selling defence equipment; Kuwait doing a seismic survey at Siba gas field; China opening a new consulate in Erbil; […]
Baghdad to Spend $300m on 15 New Bridges
By John Lee. Baghdad is to build 15 new bridges worth at total of $300 million (360 billion Iraqi dinars), in an attempt to improve traffic in the city. Eng. Talib Nejim al-Maamouri, head of Baghdad's Engineering Department, told Al-Shorfa news agency: "An agreement was reached with 33 Iraqi, Turkish and Italian companies to start […]
Iraq Exempts Citizens from Electricity & Water Charges
By John Lee. The Iraqi government said on Tuesday that it will exempt Iraqi citizens from paying electricity and water bills until all power plant installations are completed and services are provided 24 hours a day. Salam al-Quraishi, Iraqi government's economic advisor, told Al-Shorfa news agency: "The decision was made after a review of the […]
Iraqi Wheat Crop Largest in 30 Years
By John Lee. Iraq's wheat crop is the biggest for 30 years, according to Amer Abdulaziz, Director General of Iraq Grain Board. Despite 'discouraging weather conditions' Iraqi farmers have shipped 1.9 million tons of wheat to government silos, reports Azzaman. Bloomberg quotes planning ministry spokesman Abdul Zahra al-Hindawi as saying that Iraq’s wheat output rose 7 […]
Iraq Eyes Indonesian Defence Products
By John Lee. Indonesia's Defence Minister, Purnomo Yusgiantoro (pictured), said on Wednesday that Iraq has expressed interest in buying Indonesian defence products. The statement came as Deputy Defense Minister Sjafrie Sjamsoeddin visits Iraq, in part to consider ways of boosting cooperation in the defense sector. “This visit is strictly bilateral and has nothing to do […]