Water Minister Invites Portuguese Businessmen to Invest in Iraq
The Minister for Water Resources, Mohaned al-Saadi [Mohanad Salman Al Sady] (pictured), has called on local and international institutions to supply Iraq with expertise and training in the water sector. The Ministry said in a statement: "Saadi's call came during a speech to the Economic Iraqi-Portuguese Forum that in Lisbon on June, 24/25. Saadi said […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 28th June 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,321 / $1.440, (+0.9%) (weekly change). The number of week traded shares was 3.3bn and the weekly trading volume was ID6.5bn ($5.5mn). ISX Company […]
UAE’s IIAJ Wins $245m Diwaniya Housing Project
Bloomberg reports that Iraq has agreed a $245 million contract with IIAJ Ltd, of the the United Arab Emirates, to build 1,083 housing units in Diwaniya. The al-Zahra residential compound is to be completed within two years on the southwestern side of Diwaniya city, a spokesman for the Diwaniya Investment Commission told the news agency. The […]
Iraq to Offer Kirkuk Refinery for Bidding by End-2012
Iraq's State Company for Oil Projects (SCOP) will offer the construction of the Kirkuk oil refinery to international companies on a build, operate and own (BOO) basis in December 2012, according to a report from Steel Guru. The report quotes Mr Salar Ameen, deputy chairman of the National Investment Commission (NIC) as saying that "feasibility […]
Foreign Firms to Build Multi-Billion-Dollar Housing Projects in Basra
Basra will soon become the scene of multi-billion dollar construction projects to be implemented by major foreign firms, according to a statement issued by Basra Investment Commission. According to a report from Azzaman, most of these projects will be in the city of Basra, giving it more than 70,000 new, modern apartments for low-income groups, […]
Malaysia Resumes Flights to Iraq after 25 Years
Flights between Iraq and Malaysia have resumed after a gap of 25 years, with the opening of a new scheduled air service on Saturday. Alsumaria News reports that Iraqi Airways will operate a weekly return service between Baghdad International Airport and the Malaysian capital, Kuala Lumpur. Iraq's Ministry of Transport said that "Iraqi Airways plans to open […]
Italian, Ukrainian, French Firms Consider Investment in Babil
Babil Investment Commission [Babylon Investment Commission] has announced that a group of Italian, Ukrainian and French companies are interested in investing in the province. The deputy chairman of the Investment Commission, Abbas al-Tai, told Alsumaria News that the companies are considering construction and industrial projects, and that "the Commission has provided all the necessary facilities to […]
200MW Power Station Opened in Missan
Iraq's Minister for Electricity, Kareem Aftan al-Jumaili, has opened a new 200MW power station in Missan province, according to a report from AKnews. The new diesel-fueled station, to the north of Amara, was built by the South Korean company STX at a reported cost of $220 million (260 billion Iraqi dinars). According to a spokesperson for […]
Spotlight on Iraq as Maliki Threatens Election
The next general election in Iraq is not due until 2014, but Prime Minister Nouri al-Maliki warned on Wednesday that he will call for early elections if the protracted negotiations over power sharing break down. If he could persuade more than half of the parliament to vote themselves out of a job and back on the […]
Iraq to Raise Gulf Crude Exports by 14% in 1H-July
Bloomberg reports that Iraq will increase its daily exports of Basrah Light crude from the Persian Gulf by 14 percent in the first half of July, compared with shipments in the previous two weeks. Eighteen cargoes are scheduled to be shipped from the al-Basrah Oil Terminal (pictured), unchanged from the second half of this month, […]
How to Dissolve the Iraqi Parliament
The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. […]
Iraq’s Crude Production Hits 20-Year High
Bloomberg reports that Iraq’s crude output rose to its highest level in 20 years, as CNPC's Halfaya oilfield ramped up production. Abdel Ilah Qassem al-Amir, a spokesman for Deputy Prime Minister for Energy Affairs Hussain al-Shahristani, told Bloomberg on Tuesday that output exceeded 3.07 million bpd. The Director General of the Missan Oil Company said […]