Erbil Stock Exchange eschews ‘gateway’ role
On July 6, the website of Kurdistan’s Peyamner News Agency reported that Iraq’s second stock exchange had “opened” in the Kurdish city of Erbil. It wasn’t clear what was meant by opening, however. The Erbil Stock Exchange (ESX) was licensed in February and trading is not due to start until later this year. I believe […]
$238m Real-Estate Development in Baghdad
CNN reports that work will soon begin on one of the biggest real-estate projects in post-Saddam Hussein Iraq, which some say is a sign things are looking up for the country's economy. Iraqi-Jordanian real estate company Amwaj International is behind the ambitious Baghdad development, called Baghdad Gates. The scheme will cost $238 million and will […]
Iraqi Government to Build 32 Dams
The Iraqi water expert Mohammad Hnedy announced today that the Water Resource Ministry (WRM) plans to establish 32 water dams, according to a report from AK News. The first stage of the designs are already completed. “There is a concern that the project might cause tensions among the provincial governors and political leaders in Iraq,” […]
China Increases its Investments in Iraq
China didn't take part in the U.S.-led invasion of Iraq or the bloody military battles that followed. It hasn't invested in reconstruction projects or efforts by the West to fortify the struggling democracy in the heart of the Middle East. Workers at al-Waha Oil Co. in the southern Iraqi town of Wasit are part of […]
Iraq's Oil Exports Hit 1.9m bpd
Iraq's crude exports in June averaged 1.9 million barrels per day, the same level as the previous month, the head of the State Oil Marketing Organisation said. Average exports from the southern oil hub of Basra reached 1.45 million bpd while exports from oilfields in the north around Kirkuk averaged 450,000 bpd, SOMO head Falah […]
Egypt and Iraqi Kurdistan Discuss Economic Cooperation
Egypt's Prime Minister, Ahmadi Nazi,f met with visiting President of the Kurdistan Region in Iraq, Massoud Barzani, on Monday [5 July] tp discuss economic and trade cooperation. Nazif asserted Egypt's support for the political process in Iraq and efforts to form an Iraqi government as soon as possible to achieve unity and stability in the […]
Investments in Erbil to Exceed $7bn
Investment projects in the capital of Kurdistan region, Erbil, are estimated at $7.5bn, the deputy governor reported on Tuesday. "We expect that investment will increase in the coming years,” Tahir Abdullah said. The projects have been carried out in different sectors, such as industry, reconstruction, agriculture and housing projects in Erbil, Abdullah noted. A member […]
Maliki Urges Jordanians to Invest in Iraq
Iraq's Prime Minister, Nouri al-Maliki, called on Jordanian investors and companies to take part in the reconstruction operations in the country, according to a statement from his office. “Al-Maliki received on Wednesday (July 7) the Jordanian Ambassador in Baghdad, Mohammad Taissiyer al-Musaada,” said the statement received by Aswat al-Iraq news agency. The statement quoted the […]
Vice-President Calls for Stronger Ties with Australia
Vice President Tareq al-Hashemi called for stronger economic and trade relations with Australia, according to a statement of his office on Wednesday. “Al-Hashemi received on Wednesday (July 7) the Australian Ambassador to Baghdad, Robert James Tyson,” said the statement received by Aswat al-Iraq news agency. He went on to urge Australian investors to invest in […]
An International Airport for Duhok
Duhok Province said that it sealed a contract with Lebanese Dar Al Handasah to build an international airport in the province with a cost of 5 million dollars. The source said that it expects works to start at the end of next year. Another source said that the airport will help in developing the economy, […]
Transport Minister Granted 'Compulsory Leave'
The political adviser of the outgoing Prime Minister Nuri Al-Maliki said on Wednesday that the Iraqi government had decided to grant the Minister of Transport, Amer Abdul-Jabbar Ismail, 'compulsory leave' for one month, because of his poor management of the Ministry. "The Minister's compulsory leave for a month carries a lot of meanings," said Ali […]
Weekly Security Update
National Overview It is estimated that 150 key figures including politicians, civil servants, tribal chiefs, police officers, Sunni clerics and members of the Sahwa militia (Awakening Council) have been assassinated throughout Iraq since the election on 07 March. This is a notably high incidence of targeted killings and highlights the current period of political instability. […]