New Appointment Strengthens Team of Anglo-Arab Insurance Brokers (AAIB)
Anglo-Arab Insurance Brokers (AAIB), the leading specialist insurer for Iraq Insurance, emerging and high risk countries across the Middle East and Africa, has announced the appointment of Mr Mekki R. Mustafa as its Senior Consultant in Iraq. The appointment will consolidate AAIB’s position in Iraq, where it is already the largest international insurance broker licensed […]
DNO Resumes Buybacks, Shares Rise
DNO International has announced on Monday the resumption of its share buyback program, originally announced on 10 August 2011. Between 18 August and 7 October, the Company acquired a total of 25,500,000 shares, which are currently held in treasury, pursuant to a shareholder approval to acquire up to 80,000,000 shares. "We believe that in current […]
Missan Oil Company to Increase Output by 20%
The Missan Oil Company expects to increase output by 20 percent to 120,000 barrels a day by the end of this year The company’s Director General Ali Muarej told Boomberg that ten wells will be made operational at the Halfaya field south of Baghdad in the next two months to raise production. Total, China National […]
Iraq Stock Market Report
Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 27th October 2011). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,540 / $1,768, -4.5% (weekly change). The number of weekly traded shares was 19.8bn and the weekly trading volume was […]
Two New Reports from Iraq Business News
In our ongoing efforts to brings you all the best information on doing business in Iraq, we continue to add to the list of reports available from our reports service. This week we've added two reports on energy exploration and electricity generation: Oil and Gas Exploration and Production Outlook in Iraq to 2015, an essential […]
Inflation hits 7.6 in August
Iraq's core annual inflation (which excludes expenditure on fuel) increased from 7.1 percent in July to 7.6 percent in August, according to Reuters, driven mainly by higher prices of food and clothes over the Muslim holy month of Ramadan. Central Bank Deputy Governor, Mudher Kasim, told the agency that the higher price of gold in […]
Re-Announcement For the Construction of NIC Complex
The National Investment Commission (NIC) re-announces a tender for the construction of NIC complex listed under the investment budget 2011 located in Baghdad/International Zone . Interested companies classified as first class/construction according to Iraqi MoP classification are invited to visit NIC headquarter (Baghdad/International Zone , near the 14th July Sq) to obtain the tender documents […]
Iraq Aims to Join OPEC Quota System by 2014
Bloomberg reports that Iraq will ask to rejoin OPEC’s quota system for crude output in 2014. The holder of the world’s fifth-largest oil reserves plans to increased production from an average of 2.9 million barrels a day to 3.4 million barrels a day next year, and 4.5 million barrels a day in 2013, said Falah […]
TAQA Favours Iraqi Energy Assets
In an interview with Bloomberg, the new CEO of the Abu Dhabi National Energy Company (TAQA) said the state-run company looking at more opportunities in Iraq, and aims to exploit the synergy in its oil, gas and power businesses. Last week the company agreed to invest $46 million in WesternZagros Resources, acquiring a 19.9 percent […]
Salahaddin Province Declares Autonomy
The provincial council of Iraq's Sunni Arab majority Salahaddin province voted on Thursday to declare the province an administratively and economically autonomous region within the “Unified Iraq”, similar to Kurdistan, according to reports from AFP and Al Sumaria. However, for the decision to take effect, it must still be approved in a referendum by residents […]
Strengthening Ties between Kurdistan and Scotland
Karim Sinjari, the Kurdistan Regional Government's Interior Minister, yesterday met Alex Salmond, Scotland's First Minister, who offered Scotland's cooperation in a wide range of fields and discussed ways to strengthen relations among the peoples of both nations. Minister Sinjari separately met Kenny MacAskill, Scotland's Justice Secretary, and visited the Scottish Police College. The meetings were […]
The Iraqi Oil Rush
The rush is on for exploration and production real estate in Iraq. Companies with promising licences, or existing operations, are clearly very desirable to potential investors, and so have had little difficulty tapping the markets for more funds. In recent weeks alone we've seen: WesternZagros Resources raise C$46 million from the Abu Dhabi National Energy […]