GKP Updates on Kurdistan Operations
Gulf Keystone has issued an update on its ongoing exploration and appraisal programme in the Kurdistan Region of Iraq, which includes the Shaikan block, a major discovery with independently audited gross oil-in-place volumes of between 8 billion barrels to 13.4 billion barrels calculated on the P90 to P10 basis with a mean value of 10.5 […]
Qtel to Buy Out Asiacell Partner?
Reuters, citing banking sources familiar with the matter, reports that Qatar Telecom (Qtel) plans to buy out a private equity partner's 19-percent stake in Iraqi telecoms operator Asiacell. Qtel, the Gulf state's former monopoly, has a 30-percent stake in Asiacell, Iraq's number two operator, while its partner MerchantBridge owns 19 percent. Morgan Stanley is reportedly […]
Iraq Seeks Bidders for $450m Kerbala Monorail
Bloomberg and Reuters report that Iraq has invited foreign companies to compete for a $450 million monorail project in the southern holy city of Kerbala [Karbala]. The city, 80 km (50 miles) southwest of Baghdad, hosts the shrines of two Shi'ite imams and hosts millions of Shi'ite pilgrims each year at several major religious rites. […]
37% Increase in Passengers at Erbil International Airport
In 2011, 621,870 passengers used Erbil's new International Airport, a 37% increase on the previous year, whilst cargo tonnage also increased dramatically, with a 67% increase to 17,769 tonnes per annum. The increase in passenger and cargo numbers will help cement Erbil International Airport as one of the fastest growing in the Middle East and […]
Iraq Stock Market Report
Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 19th January 2012). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,363 / $1,495, -6.4% (weekly change). The number of weekly traded shares was 6.4 bn and the weekly trading volume […]
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 […]
Iraq to Grow 36% in Three Years
The World Bank says it expects Iraq's gross domestic product (GDP) to grow by 12.6 percent in 2012, and 10.2 percent in 2013, following a growth of 9.6 percent last year. If achieved, this would give a compound growth of 36 percent in just three years. This follows a downward revision of growth expectations for […]
Iraq to use Chinese Surveillance Systems
Iraqi authorities plan to install about 250,000 surveillance cameras in Baghdad in an attempt to reduce insurgent attacks in the capital, according to AKnews. The Chairman of the the Security Committee of Baghdad's provincial council, Abdul Karim al-Tharb, told AKnews that the council has allocated about 10 billion Iraqi dinars (about US$8 million) to the […]
Basra Investment Commission Moving to New HQ
Basra Investment Commission is moving to new headquarter. The head of the BIC said that "the location of the new office in the center of the city and its proximity to the provincial council in Basra and the Office of the province of Basra ... will facilitate the work of the Commission and its staff." […]
M:Communications to Support Zain IPO
PRweek reports that the Iraqi unit of Kuwaiti telecoms company Zain has hired PR agency support in advance of its listing on the Iraq Stock Exchange. The firm has been planning an initial public offering (IPO) in Iraq since the summer and has asked London-based M:Communications to support communications relating to the listing process. M: […]
Baghdad Co signs Mullah Abdulla Power Plant Contract
The Baghdad Company for Gas Turbines Ltd. has announced that it has won the contract to rehabilitate the Mullah Abdulla power plant in Baghdad. The company's managing Director, Mr. Mumtaz Rushdi, signed the deal for the 11units on Friday. When completed later this year, the plant will provide more than 250 MW of power. (Source: […]
Iraq to Invest $2bn to Build 18 Hospitals
Iraqi health authorities have decided to build 18 hospitals throughout the country with an total budget of US$2 billion, according to a report from AKnews. Adil Mohsen, General Inspector at the Health Ministry, told AKnews that the majority of the hospitals will have at least 100 beds and will be constructed according to international standards. […]