Undersea Cable Network to Upgrade Iraq's Links
Reuters reports that Qatar-based Gulf Bridge International (GBI) is completing the final stages of a submarine cable network that will give Iraq fast, reliable connections to other parts of the world for the first time. The network, expected to be fully operational by the end of the year, consists of a 13,000 km (8,078 miles) […]
Time to Move on: Iraq's Oil & Gas Impasse Explained
The furore over the contract signed by US oil giant Exxon with Iraqi Kurdistan is another sign that Iraq urgently needs a new oil and gas law. As this primer from Niqash explains, the lack of this law could well be a sign that the dream of united Iraq is over. Any opinions expressed are […]
VP Biden's Address to US-Iraq Higher Coordinating Cmte
Remarks by Vice President Biden at the Conclusion of a Meeting of the U.S.-Iraq Higher Coordinating Committee THE VICE PRESIDENT: Mr. Prime Minister, my distinguished colleagues, as I stated at the outset, both our countries are now launching on a new phase of this relationship. What we discussed here today was not totally new, but […]
Iraqi Banking’s Great Leap Forward
Last month the Central Bank of Iraq co-hosted a conference with USAID’s Iraq Financial Development Project on “Integrating the Banking and Financial Services Sector in Iraq.” This event, which was held in Istanbul from November 18-19 covered two upcoming changes to the payments system that have the potential to revolutionize Iraq’s banking sector. The first […]
Emerson Pitches for Business at Zubair
U.S.-based energy firm Emerson has submitted a bid for an automated systems contract at Iraq's ENI-operated Zubair oil field, according to a report from Market Watch. The company, a specialist in oil and gas, refining and power automation, gave no details about the value of the contract to set up process and control automation equipment […]
Rail Revenues Up 25%
The revenues of the Iraqi Republic Railways Company were 24.5 percent higher in October than in September, according to AKnews. The Transport Ministry announced that the IRR's revenues reached 1.6 billion IQD ($1.3 million USD) in October, compared to 1.3 billion IQD ($1.1 million USD) the previous month. Only 9.6 percent (153 million IQD/$128,300 USD) […]
Foreign Companies Keen to Work for Missan Oil
Aswat al-Iraq reports that a number of American, Malaysian, French and Japanese companies are interested in working in southern Iraq's Missan Oil Company. "The Internatoinal Oil Gas Exhibition, held in Basra Province, saw visits by dozens of foreign companies to the Missan Oil Company pavilion," Ali Abbas al-Turfy told the news agency, adding that "more […]
Palestinian Authority Opens Consulate in Kurdistan
This week the Palestinian Authority became the 22nd country to establish a diplomatic representation in the Kurdistan Region. The Consulate General will be headed by Ambassador Nazmi Hazouri, and will join the other countries that have already established a strong presence in the region with Consulate Generals. Ambassador Hazouri, who arrived in the region in […]
Finally, Some Good Sunni Federalism
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. […]
Bankers Flock to Iraq Despite Dangers
According to a report in the Financial Times, violence is not deterring investment bankers hungry for potentially lucrative deals in Iraq. Over the past year, a trickle of visits from intrepid bankers has turned into a steady stream of senior executives from some of the world's largest financial institutions. "The international banks can smell the […]
Weekly Security Update for 1st December 2011
As the US military withdrawal continues, levels of violence rose in Iraq over the past week. Incidents were concentrated in Baghdad, Mosul and Kirkuk, while the southern city of Basrah also saw a bomb attack the day before an international oil and gas conference opened in the city. Otherwise there has been a countrywide rise […]
US Will Not Abandon Iraq
The withdrawal of US troops from Iraq enters its final month, but it would be a mistake to think that this leaves Iraq without the support of the world's biggest economy. On Thursday the US and Iraq issued a joint statement re-affirming their commitment to "forging a strong partnership based on mutual interests that will […]