Iraq Oil & Gas Report
Business Monitor International (BMI) has published a new report on the oil industry in Iraq. Summary: BMI forecasts that Iraq will account for 10.27% of Middle East (ME) regional oil demand by 2015, while providing 11.56% of supply. Middle East regional oil use of 4.98mn b/d in 2001 will rise to an estimated7.40mn barrels per […]
New Tender for Supply of Rice to Iraq
The Iraqi Grain Board has just issued a new tender for the supply of 30,000 tonnes of rice. Offers are to be received by 10:00 am (Baghdad time) on 31st January. Please click here for more details.
How Risky Is Iraq?
Let's start with a little test: Can you rank the following economies in order of the expected risk of their defaulting on their sovereign debt – Ireland, Argentina, Dubai, Greece, Iraq? The correct order, based on the cost using credit default swaps (CDS) to insure their debt against default, is: Greece (riskiest), Ireland, Argentina, Dubai, […]
KRG Reconstruction and Housing Projects Topped $334m in 2010
The number of reconstruction and housing projects undertaken by the Kurdistan Regional Government (KRG) rose by 24 in 2010, with a value increased by $83m. According to the KRG Ministry of Reconstruction and Housing, in 2010 some 368 projects were completed in the three provinces. The overall value of the projects funded by the ministry […]
Iraqi Govt to Create 171,000 New Jobs
This year will see the creation of 171,000 new jobs, according to the latest ruling by the Iraqi parliament. Azzaman reports that the new jobs are part of the government's efforts to fight unemployment but officials say they will not alleviate unemployment in the country, which they estimate at more than 15%. Iraq has one […]
Turkish Company to Clean Up Baghdad in $24m Contract
Baghdad municipality has signed a contract with a Turkish company, Akdneiz, to clean up the city while statistical figures show high unemployment rates. According to the contract, the districts of Karkh, Rusafa and Karrada [Karadah] in central Baghdad will be cleaned up by Akdeniz for a period of one year. Iraq's Central Statistics Agency (CSA) […]
Iraq and Egypt Discuss Increasing Trade
The Deputy Prime Minister of Iraq, and the Trade Minister, Roze Nouri Shawis met the Egyptian Trade and Industry minister, on Monday to discuss ways to increase trade between the two countries. Shawis told AKnews that the meeting dealt with the mechanisms to support and promote Arab economic cooperation with Iraq, especially in the Kurdistan […]
Syria Plans to Boost Relations with Iraq
The Syrian Trade and Economy Minister, Lamyaa Assi, says her country is planning to deepen “historic and strategic” Syrian-Iraqi relations. The Syrian Minister spoke to AKnews correspondent in Egypt as the Arab trade and economy ministers are coming together in the Sharam al-Sheikh resort to discuss economic development. Iraq and Syria will develop a strategic, […]
ICB Submits New Law on Money Laundering
AKnews reports that an adviser at the Iraqi Central Bank (ICB) stated on Tuesday that a new law has been submitted to the parliament to combat money laundering in coordination with other government institutions, in order to provide greater protection for Iraq's economic system. Muzher Mohammed Saleh told AKnews that the new law is more […]
Talk Show Host Wants US to Take Iraqi Oil
A Fox News talk show host has called for the US to take Iraq's and Kuwait's oil to "make them pay for their liberation". Sean Hannity (pictured), who was discussing high oil prices with his “Great American Panel”, expressed outrage at the proposed increases in the price of oil and suggested that Kuwait and Iraq […]
Weekly Security Update for 19th January 2011
Overview Levels of violence fell last week, but the past 48 hours have seen three suicide attacks in the central provinces, killing dozens and injuring over 200. As with the recent spate in assassinations in the centre of the country, the main target of the suicide bombers were state employees and members of the Iraqi […]
Kurdistan Oil Exports to Resume in February
Reuters reports that Iraq's semi-autonomous Kurdish region of Iraq has agreed with Baghdad to resume oil exports from the start of February, the Kurdish prime minister Barham Salih (pictured) said, taking the two sides closer to resolving bitter disputes over oil and land. Around 40 companies, such as Norway's DNO, have invested in Kurdistan, but […]