Outgoing German Ambassador notes Progress in Kurdistan
In Salahaddin on Monday KRG President Masoud Barzani welcomed the outgoing German Ambassador Christian Berger, who came to bid farewell to the Kurdistan Region as he concludes his term in Iraq. President Barzani thanked the Ambassador for the important contributions of the German people and government toward the ongoing development of Kurdistan, and Germany’s significant […]
Weekly Security Update for 20th June 2012
Levels of violence rose in Iraq last week. AKE documented more incidents than in any other seven-day period since the March 2010 elections. At least 137 people were killed and 307 injured in nationwide attacks. This is the highest figure recorded in any week since May 2010. Over the course of the week a total […]
MOT Announces A New Sugar Tender
General Contracts Department / MOT hereby announce for purchasing the quantity of 50 000 MT +/- 5% in minimum of white sugar from Brazil , Europe, United Arab Emirates . So for all bidders who are willing to participate in this tender ,please visit the General Contracts Department in the head quarter of the Ministry […]
VIP Lunch with KRG High Rep to UK - Closes Soon
The Middle East Association is pleased to be hosting a VIP Lunch with Bayan Rahman, High Representative to the UK of the Kurdistan Regional Government at Bury House on Wednesday 27th June. Please find the flyer and registration form (corrected) attached. Bayan Sami Abdul Rahman began her career as a journalist in the UK and […]
Iraqi Oil Targets Open to Negotiation
Iraq's oil production targets may be revisited, as the country refines its plans to ramp up output. Thamir Ghadhban, Chairman of the Advisory Commission to Prime Minister Nouri al-Maliki, told CWC's Iraq Petroleum 2012 conference in London that production will hit 3.4 million barrels per day (bpd) at the end of 2012, 3.9 million bpd […]
Iraq to Export Electricity Next Year?
Iraq's electricity problem could be solved by the end of the 2013, according to Iraq's deputy prime-minister with responsibility for energy. Husain al-Shahristani (pictured) told local reporters, “this year power output will reach 9,000 megawatts and skyrocket to 20,000 megawatts in 2013”. AKnews reports that he made the remarks as he inaugurated a new 400MW […]
Halfaya On Stream 15 Mths Ahead of Schedule
State-owned China National Petroleum Corporation (CNPC) says the first phase of Iraq's Halfaya oilfield has started operating at 100,000 bpd, 15 months ahead of schedule. The company says it has already started preliminary work on the second phase of development at the field, which will bring the capacity to 200,000 bpd. Iraq signed a 20-year […]
Iraq’s Fourth Bid Round: Assessment Of The Outcome
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. After many postponements, Iraq’s fourth bid round took place on 30-31 May 2012. Twelve exploration blocks were offered, but only three were awarded. With two-thirds of the offered blocks receiving no bid, […]
100 Dutch Companies Consider Kurdistan
Following a visit by a delegation of Dutch companies to Kurdistan last week, AKnews reports that about 100 Dutch companies have expressed an interest in working in the region for the first time. The companies attended an economic forum promoting the Kurdistan Region and looking at prospects for Dutch investors. Azad Ahmed, from the Chamber […]
British Furniture Store finds Business in Iraq
A businessman from Bolton in UK, Asad Shamim, of Furniture In Fashion, says that the local companies must strike the emerging markets of Iraq, as it is said to start a major rebuilding program. Quick to see an opening, the entrepreneur has already sold £60,000 [$96,000] worth of furniture to a new hotel in the […]
Will the Banks Get More Time?
The Central Bank of Iraq’s June 30 deadline for private-sector banks to raise capital to IQD 150 billion is fast approaching. Yet of the 21 ISX-listed lenders only three—North Bank (BNOR), United Bank (BUND), and Kurdistan Bank (BKUI)—have reached the target so far. Rabee Securities’ most recent bank sector report found that as of June […]
Dunia Weekly Iraq Market Tracker
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]