Fuel Crisis in Baghdad Again
"The queues at gas stations in Baghdad were the result of the shortage of electricity and the high temperatures," the spokesman of the Iraqi Oil ministry said today. "The high temperatures prompted citizens to store petrol for their home generators," Assim Jihad said. "The Ministry is regularly providing the stations with fuel and gasoline," he […]
Financial Sector Developing in Kurdistan
Both public and private sectors are working hand in hand to establish and develop a modern financial sector in the Region that can support the economic growth in the Region, measure up with international standards, and be connected to world markets, something that is key to the soundness and efficiency of this sector. The sector […]
India Seeks to Invest in Ninewa
India's Charge d’Affaires has expressed his country’s keenness to invest in projects in Ninewa. This came during his first visit to the province and his meeting with the governor and a number of his advisors. Abdulmajied Bader expressed hopes of possible cooperation in various fields, mainly in information technology, communications, textiles and health. He suggested […]
Trade Ministry to Issue 2011 Trade Guide
The Iraqi Trade Ministry is preparing to issue the Iraq Trade Guide of 2011. “The guide will include a database of more than 46,000 local, Arab, and international firms officially registered in Iraq,” a source from the ministry told Aswat al-Iraq news agency. He noted that the project highlights investment, economic, tourist, and cultural aspects […]
Qadisiyah Govt and Iranian Companies Agree on Investment
A preliminary agreement was concluded between Qadisiyah local government and a group of Iranian companies to invest in the province, the director of the Investment Committee in Diwaniyah reported on Monday. "The Investment Committee and the head of Qadisiyah council met a delegation from a group of Iranian companies to discuss the possibility of investing […]
USAID Study Details Advances by Iraq’s Microfinance Industry
USAID through its Provincial Economic Growth Program, today released State of Iraq’s Microfinance Industry, a 52-page report that describes the growth and emerging trends of a microfinance industry that rapidly is building financing systems accessible to all Iraqis. Iraq’s microfinance industry was established seven years ago with financial and technical assistance from the U.S. Agency […]
Rumaila Oil Output up 10% by End of Year
On July 1, the operational management of Iraq's Rumaila project was officially transferred to Rumaila Field Operating Organization (ROO), a consortium led by CNPC, BP and Iraq's South Oil Company. On July 3, BP, CNPC and Iraq's South Oil Company held a ceremony at Basra to mark the transfer. More than 130 representatives from the […]
Iraq to Build Eight Power Stations
Dinar Trade reports that The Minister of Electricity and agency, Dr. Hussain al-Shahristani, has announced the building of eight new power stations, with a total capacity of 5,000 MW. Readers of IBN will remember that Dr Shahristani, who is also the Minister for Oil, took over responsibility for the electricity brief following the riots last […]
Waste-to-Energy Power Project in Kirkuk
Kirkuk's Governor, Abdulrahman Mostafa, met with representatives of a US consortium on Sunday, investing in the fields of petroleum, refineries, prefab construction and cell phones, and discussed with them a project to produce electricity through waste incineration, a local official said. “The U.S. investors briefed the Kirkuk officials on the nature of their work and […]
259 Foreign Firms in Erbil Construction Fair
The Second Fair for Municipalities, Constructions, and Ceramics was opened on Monday, 12th July, in Erbil city. “The fair will last for one week,” a source from the fair told Aswat al-Iraq news agency on Sunday. He noted that 259 foreign firms from 10 countries are participating in the fair. AK News reports that Iran, […]
Iraq Aims to Raise Water Sector Investment
Iraq needs to spend more than $1 billion a year to develop its water sector in the coming years as the war-battered country grapples with water shortages, Iraq's minister for water resources said on Sunday. Iraq has spent $1 billion each year since 2007 for water projects with funding from the government as well as […]
Construction and Housing Cooperation Between Iraq and Bahrain
The Iraqi Minister for Construction and Housing, Bayan Dzehyi [Bayan Dezei], received the Bahraini ambassador to Baghdad, Salah Ali Al Maliki, to discuss cooperation in the construction sector. An official source at the ministry said that the minister discussed with the Bahraini ambassador, means of mutual cooperation in the implementation of projects or partnerships with […]