20 Swedish Companies Visit Kurdistan
Representatives of 20 Swedish companies met a group of businessmen from the Kurdistan region on Monday to discuss investment opportunities in the region. The meeting was organized by the Iraqi businessmen association in Kurdistan. “The meeting is a first step in learning about the Swedish companies and their experience,” Sardar Hassan, the association’s secretary general, […]
Sterling Energy Shares Slump after Broken Drill-Pipe in Kurdistan
Shares in Sterling Energy (AIM: SEY), the independent oil and gas exploration and production company operating in Iraqi Kurdistan, fell by 20% in early trading on Tuesday, following an update on the company's operations at the Sangaw North block, in which it has a 53.33% working interest. The Sangaw North-1 exploration well has been drilled […]
Iraq 2011 Budget Based on $73 Oil
The oil and finance ministries agreed to set the price of oil barrel at $73, to be endorsed in the 2011 state budget, oil ministry spokesman Assem Jihad told Aswat al-Iraq news agency at the weekend. “The agreement comes in light of an export rate of 2.3 million barrels per day (bpd), including the oil […]
Iraq's Navy Recieves Boats From US
Iraq Navy’s has received the first of nine military observation boats from the United States, according to a Navy Command source quoted by Aswat al-Iraq on Sunday. “The boat is part of an order for 9 boats, manufactured in the United States, according to a contract concluded previously,” he said. He continued that the "boats […]
New Baghdad-Doha Air Route
The spokesman for the Iraqi Ministry of Transport said on Saturday that direct flights between Baghdad and the Qatari capital, Doha will commence today [Monday]. Initially there will be only one flight per week, according to the report from AKnews. The spokesman stated that Iraq wants to open direct flights with all developed countries which […]
Iran Targets Iraq for Investment
The Head of Tehran's Chamber of Commerce, Industries and Mines, Yahya Al-Ishaq, said Iran regards Iraq as one of the major investment locations in the Middle East region, the local satellite Press TV reported on Monday. Iraq's market and economic relations with Iran is a great opportunity for Tehran, and any failure to grasp this […]
Basra University Signs MOU with Iranian Univ.
Basra University has signed a memorandum of understanding (MOU) with Iran's Martyr Jamran University to enhance scientific and cultural exchange. University president Dr. Saleh Ismail told Iraq's National Media Center that the university aims to develop the abilities of its teaching staff, and use the expertise of international universities in the fields of science and […]
Iraqi Govt Pays MPs, but Not Suppiers or the Poor
We reported recently on the excessive salaries and expenses being drawn by Iraq's parliamentarians -- it now seems the country has run out of money to pay for widows' benefits, farm crops and other programs for the poor. According to Associated Press, in only the parliament's fourth session since being elected in March, its members […]
Construction in Iraq - Staying the Course
The headlines on the establishment of a new government are indeed welcome. For a small firm like ours, the uncertainty and stop start procurement process is a commercial killer. We have to say that a lot of time and effort proportionate to our size has been expended on producing and delivering proposals that then hang […]
First Stage of Karbala Hospital Completed
The Chairman of future projects coordination in Karbala province, Hani al-Yasari, has confirmed that the Turkish Universal Acarsan Co. has completed the first stage of the modern hospital project in al-Herr district the province. He told NMC that the seven-floor hospital, to be built over 65 acres in 33 months, includes 492 beds initially, expanding […]
Private Banks Perform Better Than State-Owned - CBI
The Central Bank of Iraq (CBI) said on Friday that the performance of private banks is better than the performance of state-owned banks, indicating that the lack of restrictions and bureaucracy in private banks gave them a competitive advantage. Muzher Mouhammed Saleh, the chancellor of the CBI, told AKnews: "The future in Iraq will be […]
IMF Dissatisfied with Iraq’s Monetary Policy
The International Monetary Fund (IMF) has cited Iraq’s monetary policy as the reason for turning down an Iraqi request for a loan package to reduce its 2011 budget deficit, an advisor to the Iraqi government said on Sunday. AKnews reports that despite the IMF’s rejection, talks between Iraq and the fund continue. “The IMF… is […]