Maliki’s Meeting with Shahrudi in Iran
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. […]
$30m Residential Project for Wassit
Wasit Investment Commission has approved the construction of 254 houses, at a cost of $30m, in Mowafaqiya district, 30km southwest of Kut. According to the report from AKnews, the 'Residential Rescue Ship' housing project, to be launched next week, will provide basic services, including a health center, fire station and shopping centers. A Turkish-Iraqi company […]
Lukoil Mid-East Limited Announces A New Tender
Lukoil Mid East Limited , Operator of West Qurna 2 Project in Iraq, is developing West Qurna 2 oil field under the Development and Production Service Contract signed with the South Oil Company of the Iraqi Ministry of Oil. Legal entities having experience in studies on technologies of treatment , neutralization and disposal of water-based […]
Qatar National Bank (QNB) Takes Majority Stake in Mansour Bank
Qatar National Bank (QNB) Group announced that it has obtained the approval of the Central Bank of Iraq to increase its stake in Mansour Bank in Iraq from 23% to 51%. As a result of this stake increase, QNB Group will augment its representation on the Mansour Bank’s Board of Directors in proportion to its […]
Hill International Wins Business at Al Bayaa Teaching Hospital
Hill International (NYSE:HIL), the global leader in managing construction risk, announced on Monday that it has been awarded a contract by the Iraq Ministry of Higher Education and Scientific Research to provide design management and construction management services for the new Al Bayaa Teaching Hospital in Baghdad, Iraq. The three-year contract has an estimated value […]
Iraq Micro-Finance Forum in Erbil
The Government of Iraq in cooperation with UNDP Iraq, USAID-Tijara and the Consultative Group to Assist the Poor organised the Iraq Micro-Finance Forum in Erbil. The Forum’s key objectives were promoting synergy between the Government’s poverty alleviation and job creation efforts and the existing microfinance industry, enhancing service delivery by microfinance institutions to micro-small and […]
Siemens Wins Al Mussaib Power Plant Contract
Siemens has announced that it has won a major order from the Iraqi Ministry of Electricity to supply the control and instrumentation system, field equipment, and spare parts for steam turbine generators for Iraq's largest power plant at Al Mussaib [Musayyib]. The upgraded plant will be more reliable, and will have higher output and increased efficiency. […]
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 […]
WesternZagros Discovers "Giant Oil Field" at Kurdamir-2
WesternZagros Resources has announced that the mean estimate of gross unrisked contingent resources ("Mean Contingent Resources") has increased to 147 million barrels of recoverable oil (corresponding to 464 million barrels of mean estimated gross discovered oil initially in place) and the mean estimate of gross unrisked prospective resources ("Mean Prospective Resources") has increased to 1.2 […]
GKP Shares Up 10% on Shaikan-4 Well Test
Shaikan-4 Well Test Achieves 24,000 bpd Gulf Keystone Petroleum (GKP) has completed the testing programme for the Shaikan-4 deep appraisal well, drilled 6 km to the west of the Shaikan-1 discovery well in the Kurdistan Region of Iraq. The extensive well testing programme commenced in December 2011 after Shaikan-4 had drilled to a total depth […]
New Oil Discovery in Iraqi Kurdistan
Iraqi Kurds say they have struck a new oil find at the disputed district of Shaikhan, north of the city of Mosul. According to the report from Azzaman, the discovery of reserves of up to 917 million barrels in an area close to Mosul, the capital Nineveh, is certain to fuel tension between Iraqi Kurds […]
Iraq’s Banking Changes could Unleash Economic Potential
By Sherif Salem, of Invest AD. Iraq’s banks are quietly on the move, and the consequences for the economy could be powerful and far-reaching. The country has 49 banks, and although lending has increased in the last couple of years, the loan-to-deposit rate still stands at only 44%, compared to around 80-90% for other banks […]