250 Generators to Improve Electricity in Missan
Aswat al-Iraq reports that 250 generators have arrived in Maysan [Missan] to improve the power network in the province. “Fifty generators arrived in Missan on Friday (Oct. 15) as part of the Iraqi government’s $100-million grant to the province,” Hussein Aziz, media spokesman for the Missan electricity department, told Aswat al-Iraq news agency. “The province […]
LG Supports a Korean Language Course in Erbil
Eleven young Kurds finished a two-month course to learn Korean in a program sponsored by the LG company and the Kurdish-Korean Friendship Association. The programs aim wa to enhance bilateral cultural relations. "Learning the Korean language is a major link towards understanding the culture. Teaching the Korean language to Kurdish students is definitely a step […]
Bank capital increase deadlines a red herring
On October 6, the Central Bank of Iraq (CBI) announced new deadlines for the private sector banks to reach the capital targets it set for them last March. According to the CBI’s original timetable, the banks had until the end of this year to bring their capital up to ID 100 bn (US$ 85 mn), […]
Gulf Keystone Raises $175m in Surprise Placing
Gulf Keystone Petroleum (LSE: GKP), the Aim-quoted oil explorer, has raised £109m ($175m, 210 billion Iraqi dinars) to accelerate its Iraq-based drilling programme in a surprise share placement. The Financial Times reported on Saturday tha the placement was run by Mirabaud Securities and priced at 140p a share; Gulf Keystone’s shares closed at 143½p on […]
Genel Enerji Sells Iraq Oilfield Stakes for $175m
Turkish oil company Genel Enerji AS has reportedly agreed to sell part of its stake in three northern Iraq oilfields to South Korea’s UI Energy Corp. for more than $175 million [210 billion Iraqi dinars]. BusinessWeek reports that Genel Enerji will sell 5 percent stakes in the Dohuk and Tawke fields and 10 percent of […]
Alsumaria TV to Re-Run Dinar Re-Denomination Prog
"Bi tarikh Al Ghad” is a weekly political talk-show prepared and presented by Ahmad Hassan and directed by Yaseen Mohamad Amin. It retraces the latest major political developments taking place in Iraq and handles events from a leading-edge angle. “Bi tarikh al ghad" projects the consequences of newest developments on the political process and highlights […]
Al Rafidain Bank – Tenders for Building Apartments
Al- Rafidain Bank of Iraq, in cooperation with the National Investment Commission, announces the intention to invest the land number 07/14/1877 Mashtal / Waziriya, area of 5000 m ², for the establishment of six residential buildings for the staff of Al Rafidain Bank, in addition to services and up to 72 ( Seventy-two) apartments. Please […]
At Least 9 Killed in Iraq Gold Shop Robbery
With gold recently hitting highs of nearly $1,400 per ounce, an armed raid on a row of goldsmiths' shops in Baghdad has left at least nine people dead. The gunmen used hand grenades and small arms to kill three gold shop owners in a market in the Mansour district of western Baghdad, an Interior Ministry […]
OPEC Says Few Years Before Start of Iraq Quota Talks
OPEC, which accounts for 40 percent of global oil supplies, said it will take a few years before talks begin on how to include Iraq’s production quota within the group as the country needs time to raise output capacity, says a report from BusinessWeek. “Iraq will be accommodated, they will need time before they reach […]
Kirkuk Likely to Return 65% of Budget to Baghdad
Speaking to AKnews on Friday, Kirkuk Council member Ahmad Askari said Kirkuk's budget for 2010 was 121 billion Iraqi Dinars ($103 million), but so far only $34m has been spent on providing services; according to the provincial councils' law the reminder should be returned to Baghdad, if not spent. "It is unlikely that the province […]
Progress at Umm Qasr Port
The company dredging Umm Qasr port in Basra province has reached 12 meters deep, which should end Iraq's dependence on neighbouring countries’ ports, according to the Iraqi minister of transport on Friday. “The Belgian company’s excavation works reached a depth of 12 meters on Friday, compared to 7.5 meters in 2005 and 8.5 meters in […]
Conference on Oil Ministry Strategy in Basra
Iraq’s South Oil Company has organized a special conference on the strategy of the Iraqi Oil Ministry in the field of training and technology transportation, with the participation of major specialized global companies, the company’s Training Director said on Sunday. Hassib Attiya said “the activity of the strategic conference for training and technology transportation began […]