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 […]
New Auction for Three Gas Fields
Iraq's Ministry of Oil will auction off more gas fields on the 20th October 2010. Xinhua was told by an official: "The bidding for the gas fields of Akkas in Iraq's western province of Anbar, Mansuriyah in eastern Diyala province and Siba in the southern province of Basra, will be held on October 20th." Ministry of […]
Will the ISX join the emerging markets breakout?
This hasn’t been a great year for Iraqi stocks by any stretch of the imagination. As measured by Rabee Securities’ dollar-based index, as of October 7 the market is down 10% year-to-date. And with index constituent stocks with a total weighting of something like 40% currently suspended from trading and Warka Bank (BWAI) no longer […]
Invest in Iraq Now or Miss Out, Says U.S. Envoy
American companies should invest in Iraq now to avoid losing out on opportunities to other international firms, Under Secretary of Commerce Francisco Sanchez said during a trade mission to Iraq. According to the report in Reuters, he urged corporate leaders to hurry while acknowledging that security concerns remained high. "The time is now. I think […]
Iraq Needs 4,400 Miles of New Pipelines
An estimated 7,000 km (4,400 miles) of new pipeline will need to be built in Iraq if the country is to meet its oil export targets, according to Penspen Group Chief Executive David Stanley. According to a report from Pipelines International, Mr Stanley underlined the need to repair and reinforce Iraq’s two existing major export […]
Nabucco Investment Decision Delayed to 2011
A final investment decision on investment for the Nabucco pipeline will definitely not happen this year, and will be delayed until 2011 because gas supply talks with Azerbaijan are dragging on, an Austrian newspaper reported on Friday. The 7.9 billion euro ($11 billion) Nabucco pipeline is part of the EU's effort to diversify its natural […]
Soldier Jailed - 'Smuggled' Iraqi Dinars
A U.S. Army officer who approved supplies contracts in Iraq was sentenced Friday to 21 months in prison for lying about contents of a package he sent to the United States containing more than $100,000, according to a report from Associated Press. Maj. Charles E. Sublett pleaded guilty in July to sending almost $108,000 in […]
France Opens New Consulate in Southern Iraq
The French Ambassador in Iraq, Boris Bouillon, announced the opening of a new consulate in the southern city of Nassiriya which is hoped to encourage French investment in Iraq. France has appointed Adel el-Kenzawy, a businessman of French-Iraqi nationality, as its consul in al-Naseriyah, Boillon told the German Press Agency. The new consulate is a […]
Govt Reaffirms Commitment to Housing in Iraq
The Ministry of Construction and Housing (MoCH) in Iraq marked World Habitat Day by launching the Iraq National Housing Policy in a ceremony held in Baghdad. The policy will respond to housing needs in Iraq and ensure the right of housing and adequate shelter is granted to all people in Iraq. Iraq’s housing shortages stand […]