Swedish and Turkish Companies Consider Tikrit Investment
The governorate of Salahaddin province said on Tuesday that representatives from Swedish and Turkish companies have met with senior council officials to discuss the implementation of a variety of strategic investment projects in the province. Salahaddin Governor’s first deputy, Ahmed Abdul-Jabbar al-Karim, told AKnews that the companies concerned specialize in 'economy' and construction. “The Governor […]
Postwar Iraq: Democracy or Theocracy?
By Tariq Abdell, Iraq’s political risk analyst, Founder & CEO of Mesopotamia Insight. The opinions expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News. Mr Gates, U.S. Defense Secretary, recent visit to Iraq underlines Washington's uneasiness and frustration with Baghdad's indecisiveness and lack of strategic foresight […]
Unlikely MSME Financiers Provide Islamic Microfinance for the Poor
By T. Keyzom Ngodup, co-founder and Executive Director at Ideas sYnergy, an Iraq based private sector development consulting company. Six NGO-microfinance institutions (MFIs) provide Islamic micro-financing Al-Murabaha to over 7,000 micro-enterprises, 14% of them women-owned small businesses across Anbar, Kirkuk, Ninewa, and Tikrit. Al-Takadum in Al-Anbar pioneered micro-financing based on Islamic principles in 2007 and […]
As Easy As It Gets
With the historic Arab League conference in Baghdad postponed for a second time, one might be forgiven for thinking that things were looking rather gloomy in Iraq. But the delays have more to do with turmoil outside Iraq, and while there are major challenges within the country, the recent news of oil finds and increased […]
Weekly Security Update for 20th April 2011
Overview Levels of violence rose in Iraq last week, with a particular increase in the number of attacks targeting civic employees in Baghdad. There were also clusters of violence in the cities of Fallujah, Ramadi, Mosuk and Kirkuk, as well as in the north of Babil province. The south was relatively quiet, as was most […]
Arab League Delays Summit on Regional Unrest
The Arab League announced on Wednesday that its members have agreed to postpone its summit, scheduled for May 11 in Baghdad, amid disputes over the venue and popular unrest rocking the region. Arab foreign ministers will meet on May 15 to set a new date, Egypt's state news agency MENA quoted the deputy secretary-general of […]
Basra Elects New Governor
AFP reports that Iraq's southern province of Basra chose a new governor on Tuesday, replacing a predecessor who quit in February amid protests against official incompetence. Khalaf Abdel Samad, with 19 votes from provincial councillors, was elected governor, and Jabar Jabar Amin, who won 14, was reappointed chairman of the provincial council. Both belong to […]
Renault Appoints UTAC as Official Distributor in Iraq
Renault GCC has announced that United Trading Automobile Company (UTAC), a new joint venture company formed by Mr. Khalil Abdel-Wahab Al Bunnia and partners has been appointed as the official distributor of Renault passenger cars and light commercial vehicles in Iraq. The joint venture partnership is formed from a tight triangular partnership between Al Bunnia […]
Bashmakh Border Crossing 'Closed Until Friday'
The director general of the Bashmakh border crossing in Kurdistan said the crossing will be closed down until Friday following a request by the Islamic Republic of Iran. Some Kurdish news websites reported that the border between Kurdistan and Iran will be closed due to a visit by Iranian President Mahmoud Ahmadinejad to Kurdistan. Mohammed […]
Redenomination and the Spinal Tap fallacy
Fans of the “rockumentary” This is Spinal Tap will recall the scene where the band’s guitarist explains that his amplifiers are louder because their volume knobs “go to eleven.” When asked why this is different from having ten as the highest setting, he simply repeats “these go to eleven.” Most of us have no trouble […]
Iraq to Spend $9m on Rail Carriages
The Iraqi Transport Ministry announced on Tuesday that it has reached agreement with Turkey to import modern train carriages costing about $9 million [11 billion Iraqi dinars]. The carriages currently used by Iraqi Railways to transport goods and passengers are old and unable to meet the requirements of commercial transport with the regional countries, according […]
Anbar Gets $125m in Border Receipts
Al-Anbar received 150 billion Iraqi Dinars [$125 million] in revenues from its border crossings in the year 2010, according to the chairman of provincial council’s investment commission. “The sum of 150 billion dinars was received in returns from the three border outlets of Turaybeel [Tirbil, Tarbiel] (pictured), al-Tanaf and Arrar for 2010 and was transferred […]