Maaqal Port Closure Sparks Criticism
The director of the Iraqi Ports Directorate objected to the Iraqi Municipalities Ministry’s decision to close Maaqal port, 10 km north of Basra city, according to a report from AKnews. Salah Khudair Abboud told AKnews that this decision is unfair since the Maaqal port receives more than 10 commercial ships each day. "The Directorate will […]
CDN Announces Its Gold Sponsorship of Iraq Telecoms 2010
Computer Data Networks (CDN), a wholly owned subsidiary of e-Portal Holding Co., has announced it will be a gold sponsor at the forthcoming Iraq Telecoms 2010 Conference, which will be held in Istanbul between 2-3 November. Ms. Hanya S. Al-Thekair, Managing Partner of CDN said: "We are delighted to sponsor Iraq Telecoms 2010 as a […]
Malaysia/Iraq Trade Reached US$43m for First 7 Months
Trade volume between Malaysia and Iraq reached US$43 million in the first seven months of 2010. According to the Malaysia External Trade Development Corporation (Matrade), the figure comprised US$20.2 million in Malaysian exports to Iraq, and imports worth US$22.8 million. Matrade's senior trade commissioner, Datuk Dzulkifli Mahmud, said Malaysian exports to Iraq were mainly electrical […]
Kurdistan Imports 400 Generators from Iran
AKnews reports that 400 electrical generators have been imported from Iran. Salam Arab, the director of the customs department at Haji Omaran (pictured) , told AKnews that since the beginning of 2010 some 400 full-size electricity generators have been imported into the Region. He added most electronic equipments are imported from Iran, not Turkey, because […]
Iraq Focuses on Food Security and Poverty
An adviser tp the outgoing Iraqi government said on Monday that a high commission to support food security in the country has been formed to alleviate the suffering of Iraq’s poor. Arif Mohammed told AKnews that the outgoing Iraqi government formed the commission that includes the Health, Labour, Social Affairs, Finance and Commerce ministries. "The […]
20 Years of High Inflation
Another 20 years of Iraq's high inflation rate has been forecast by economist Bahaa al-Din Yassin of the Kurdistan News Agency. Inflation has cooled to around 7% according to the CIA from 70% nearer the beginning of the decade, but this is still high by the standards of the so-called developed world. According to reports, Yassin said: […]
$900m Power Plant Contracts Awarded
Iraq is to get new power plants in order to boost its energy capacity by 2,500 megawatts, reports Reuters. This will significantly add to its meagre total current production, which is around 5,500 megwatts. All the contracts for the 20 gas turbines, which were bought from General Electric, have been awarded to three Turkish companies. The contracts are […]
Iraq's Budget to be in Surplus in 2012
Iraq's proposed budget, which has gone to Cabinet, should give it a deficit of $18.6bn dollars in 2011 and surplus in 2012, according to Kippreport. Iraq's huge reliance on oil will continue as it needs 2.4m barrels of oil per day next year to reach its target, said Deputy Finance Minister Fadhil Nabi. Assuming an oil price […]
Al-Maliki Victory Drawing Nearer
Under the watchful eye of Saudi King Abdullah and his intelligence chief, Prince Muqrin bin Abdul Aziz, Prime Minister Nouri al-Maliki is drawing nearer to winning enough support to form a government. Al-Maliki is pushing his momentum gained from his recent near-miss in parliament by appealing to all rival parties to show "flexibility and realism", […]
Kurdistan Development to Continue Unabated
Urban and economic progress in Kurdistan continues with many relatively stable areas and regional policy both being attractive to foreign investment. Developments in oil, too, will not be affected by delays in forming the next Iraqi government, the local government says. The Kurdistan Regional Government points to its profit-friendly legislation including ten-year tax breaks and land set aside […]
Air Expansion Continues with Airport and Route Growth
More than $150bn of airport and logistics infrastructure is being considered, according to estimates reported by AME Info FZ. Interested bidders include British Aviation Group, German Airports Group, Gulf Ground Handling Association, Middle East Aerospace Consortium, and others. The first exhibition to get air investment truly off the ground will be the Iraq Airport Expansion, Cargo Logistics […]
Baghdad International Fair in 3 Weeks
More than 300 companies from twelve different countries will be attending the Baghdad International Fair, Aswat Al Iraq reports. The annual fair will last for ten days and begins on the 1st November 2010. Mohammad Hannoun, spokesperson for the Ministry of Trade, told AKnews: "The ministry has invited a number of companies, including the countries […]