Saddam Hussein's Yacht Back in Iraq, For Sale
Iraq's ministry of transportation has announced that the luxury yacht Ocean Breeze, also known as the Basrah Breeze, once owned by former Iraqi president Saddam Hussein, is back in Iraqi waters, according to a report from ITN. The boat, which has been the subject of legal wrangling between Iraq and Jordan, which claimed ownership of […]
New Iraq-Focused Equity Fund
Global Capital Investments, of Illinois, has created a private investment fund for sophisticated investors who wish to invest in the long-term growth potential of the emerging Iraqi economy. The objective of the fund is to seek long-term capital appreciation over a broad range of Iraqi listed securities, a small number of private investments and Iraqi […]
Batna Oil Field Resumes Production After 20-Yr Stoppage
Northern Iraq’s Batna Oil Field in Nineveh Province has resumed production after 20 year stoppage, an official at Nineveh Oil Comission said on Tuesday, The official expressed the hope that production would exceed 2,000 barrels per day (bpd). “The comissioning of Batna Field, one of the oil fields in northwest Mosul’s Zummar town, stopped more […]
Iraq’s Oil Exports Decline in October
Iraq’s oil exports slipped in October to 1.9 million barrels per day from 2.021 million bpd in September, the head of the State Oil Marketing Organisation (SOMO) said on Monday. Reuters reports that Iraq exported an average of 1.492 million bpd from the southern oil hub of Basra and 408,000 bpd from the northern oilfields […]
Iraqi stock makes new highs
They say the only two things anyone ever really knows about a stock are the price and the ticker symbol. In Iraq, this is true to such an extent that it’s difficult even to adjust old record high prices for corporate actions like rights and bonus share issues. A stock could be making new highs […]
Scandal of Iraq's Politicians: Overpaid and Underperforming
According to a report from Associated Press, Iraq's 325 members of parliament have collected their $90,000 stipends, are claiming $22,500 a month in salaries and allowances, and are spending free nights in Baghdad's finest hotel. That's what they get for attending the only session of parliament since the March elections, a session that lasted about […]
Iraq Plans to Spend $9bn on 4 Refineries
Iraq plans to build four new refineries with an announcement expected in 2011, the country's deputy Oil Minister Motassam Akram Hassan said on Sunday, adding that the bidding round could be conducted for all four refineries at once. Reuters reports that total expenditure on the four plants is expected to be at least $9 billion. […]
Iraq Signs Order for Eurocopters
Eurocopter has just signed an agreement to supply seven AS350 B3 Ecureuil helicopters to the Iraqi Ministry of Agriculture. The choppers will be used for spraying date palm trees, which provide a major source of agricultural revenue for the country. Deliveries of these single-engine rotary-wing aircraft will begin in the first quarter of 2011, with […]
Iraq: "Risky but Full of Opportunity"
There is money to be made in Iraq for companies that wish to invest in correct security measures, according to leading project management specialists Parsons Brinckerhoff. Speaking during the fourth annual Construction Week Conference in Abu Dhabi, the company’s Iraq country manager Jeff Larkin told delegates that security remained a real issue for staff working […]
First French Plane Landed in Baghdad in 20 Years
A French airplane landed at Baghdad International Airport Sunday in an inaugural flight by the Aigle Azur airline, which was the first passenger plane to fly into Iraq from France in 20 years. On board of the plane was the French Trade Minister Anne-Marie Idrac, accompanied by a number of businessmen, investors and journalists on […]
New London-Baghdad Flights
The first direct flights between London and Baghdad by a private Iraqi firm will begin this week, a civil aviation official said on Sunday. Al-Naser Airlines, owned by Iraqi businessman Hussein al-Khawam, "will fly its first Baghdad-London flight on November 3, but that date is not finalised," said Nasser Hussein Badr, civil aviation director at […]
Metito Wins Iraq Water Contract
UAE-based Metito has signed a contract worth 33 billion Iraqi Dinars ($28.3 million) with Al Mustakbal Al Saeed (MSGC) for increasing its provision of potable water across Iraq. MSGC said the contract is for design and construction of Hindiyah water treatment plant located just east of the city of Karbala. The project aims to supply […]