Shopping Centers Achieve $8m in 5 Months
The state-run Iraqi Shopping Centers Firm achieved revenues of 9.676 billion Iraqi dinars [$8m] during the past five months, according to a press release received on Sunday by Aswat al-Iraq news agency.
Major Campaign to Reduce Electricity Theft in Basra
A major campaign kicked off in Basra on Sunday to clamp down on the theft of electricity from the grid. Basra police chief Maj. Gen. Adel Dahham, speaking in a statement to "Eye Media" on the role of security services, said "military and police forces worked with the electricity departments in a campaign to stop […]
Turks Seek More Trade with Iraqi Kurds
A large Turkish business delegation will head to northern Iraq Tuesday to boost trade links, despite a political chill over Turkish Kurd rebels taking refuge in the area, a newspaper report said. State minister for foreign trade Zafer Caglayan, who will lead the 200 businessmen, voiced the hope that increased economic exchanges between Turkey and […]
Syria, Iraq to Boost Financial Cooperation
Syrian Prime Minister Mohammad Naji Otri and Iraqi Finance Minster Baqir Jabr al-Zubaidi met on Sunday to discuss cooperation and relations between the two countries. Later, Syria's Minister of Finance Mohammed al-Hussein discussed with al-Zubaidi the positive impact of Syrian-Iraqi financial cooperation on economic relations which serve the interest of both countries. Minister al-Hussein stressed […]
Iraq Wants to Open Oil Border with Kuwait
Dhiya Jaafar, chief executive of Iraq's state-run South Oil Co (SOC), has said the country seeks to open a special border crossing with neighbouring Kuwait for international oil firms working in the country, Reuters has reported. The new border crossing would facilitate the inflow of equipment for the oil companies that secured contracts to develop […]
Iraq Oil and Gas Report
Business Monitor International (BMI) forecasts that Iraq will account for 9.00% of Middle East (ME) regional oil demand by 2014, while providing 11.08% of supply. Regional oil use of 7.47mn barrels per day (b/d) in 2001 rose to an estimated 10.64mn b/d in 2009. It should average 10.98mn b/d in 2010 and then rise to […]
Iraq Disputes so-called 'Friendship Dam'
According to a report from AK News, the Iraqi government has increased its diplomatic efforts with Syria and Turkey regarding their plans for the Tigris River. "Iraq will form a delegation of experts in the fields of water and agriculture to visit Turkey, Syria and Iran soon, to persuade those countries on the size of […]
3rd Unit of al-Kahlaa Power Plant Starts Next Month
The third unit of the al-Kahlaa power plant in Missan will start operating next month at a capacity of 45 Megawatts, the director of the plant said on Thursday. “Within the plan, made by U.S. experts, who supervise the plant, the third unit of the new al-Kahlaa power plant will start operating as of next […]
100 Firms Take Part in Basra Trade Fair
One-hundred Iraqi and foreign companies will participate on Friday in the Basra International Trade Fair, according to a province’s businessmen union board member on Thursday. “The companies that will attend the five-day event are coming from Turkey and Germany, alongside Iraqi companies,” Hussein Hashim al-Sa’edi told Aswat al-Iraq news agency. “The fair, which will be […]
Bank Reduces Interest Rates to Encourage Investment
An Iraqi Economist said on Thursday that the Central Bank began to reduce interest rates by approximately six percent for loans and four percent for bank deposits, to encourage investments in the country, after a series of robberies that took place recently on Iraqi banks. The expert said: "This shift reflects a new policy of […]
Chairman of Israel Corporation Visited Iraqi Kurdistan
Both KurdNet and Haaretz (citing original reports the French Jewish website JSS and Intelligence Online) say that Idan Ofer, the chairman of the Israel Corporation, visited Sulaimaniyah in Iraqi Kurdistan in May. He is reported to have met with senior Kurdistani officials including Vice President Kosrat Rasul Ali, and Prime Minister Barham Salih. The visit […]
Is Iraq an economic battleground?
Before launching his war to topple Saddam Hussein's regime, George Bush, the former US president, promised a strong independent Iraq. Instead the country has become a bloody battleground for regional and international forces, not to mention al-Qaeda. Today US, Israeli, Turkish, Saudi Arabian and Syrian forces compete to shape Iraq's political landscape. Sometimes this competition is fought […]