Samarrai Optimistic About Investment
The Iraqi parliament Speaker Iyad al-Samarrai, said that Iraq was about to witness a surge of large foreign investment because of many signed oil agreements. Samarrai confirmed that, "International companies have started investing in Iraq which leads to further investment, referring to Turkish and Iranian companies and several European firms whch have shown strong interest […]
Oil sales $1bn up on budget in 4 Months
Iraq earned more than $17 billion in the first four months of this year an Oil Ministry spokesman said. The spokesman, Assem Jihad, said the sum is one billion dollars in excess of budget expectations for 2010. “The ministry exported 222.7 million barrels in the first four months of this, earning the country $17.218 billion,” […]
Gulf Keystone Announces Fundraising
Just last week, shares in Gulf Keystone rose sharply on improved sentiment regarding oil exports from Iraqi Kurdistan. The shares have since given up much of that gain, on fears of dilution from a new round of fundraising. Details of the fundraising were announced on Tuesday. According to a statement from the company: “Gulf Keystone […]
An Apocalypse with a Silver Lining
By Mark DeWeaver Iraq faces a big downside risk from the European sovereign debt crisis—perhaps an even bigger risk than that of renewed sectarian violence. While Iraq’s limited financial links to the outside world make it immune to contagion through the banking sector, sustained debt deflation in Europe would result in a big drop in […]
Read our new Expert blogger on economics and finance starting this week
The sovereign debt crisis in Europe could be bad news for the Iraqi economy if it leads to a sustained bear market in oil. But a more likely outcome is that the crisis will cause central banks to continue their ultra-loose monetary policy, thereby benefiting Iraq by keeping oil prices high. Our new expert Blogger, […]
Iraq’s media regulator calls for greater press freedoms
Ali Al-Mawlawi, Iraqi Institute for Economic Reform 18 May 2010 The head of Iraq’s Communications and Media Commission (CMC) has announced plans to hold a major conference in partnership with the Iraqi Supreme Judicial Council as part of efforts to abolish laws that are incompatible with press freedoms. Dr Burhan Al-Shawi explained that the CMC, […]
New Starting Point for Investment and Trade Between UAE and Iraq
The visit that Her Excellency UAE minister of foreign trade Shekha Lubna Bint Khalid made to Kurdistan Iraq region late last week heading an investment and trade delegation gave a new push to strategic investment and trade cooperation between Iraq and UAE. This visit represented a new starting point in economic relations between the two […]
Developing Abu Floss Port Reaches Final Stage
The project of rehabilitating Abu Floss Port in Basra province has reached its final stage, a media source from the Iraqi Ports Company said on Tuesday. “About 90 percent of the project has been finalized,” the source told Aswat al-Iraq news agency. He noted that work has been executed by a local firm since the […]
International Fair in Basra
An international fair for food and agricultural products opened on Monday at Basra’s International Airport. “The fair will last for four days,” a local source told Aswat al-Iraq news agency. He noted that 150 local and foreign firms are participating in the fair. ( Aswat Al Iraq )
Lebanese, Turkish Discuss Housing in Basra
A group of eight Lebanese and Turkish firms on Monday discussed with Basra’s governor new housing compounds in the province. “We discussed housing projects in the province,” the Basra governor Shaltagh al-Mayiah told Aswat al-Iraq news agency. He noted that the Basra Local Authority encourages Arab and foreign companies to invest in the province. ( […]
Baghdad Gate Housing Project Provides Job Opportunities – PM
The Baghdad Gate Housing Project will provide job opportunities, Iraqi Prime Minister Nouri al-Maliki said on Monday. “This is a new stage, Iraq has become a workshop,” al-Maliki said at a ceremony held on the occasion of laying the project’s corner stone. “All projects that have been agreed upon will be finalized within the coming […]
Gas-fired Power Plant in Hilla
Electricity Minister Karim Wahied on Monday laid the cornerstone of a gas-fired power plant in Hilla at a cost of $84 million. “The plant will work with a total capacity of 250 MW and the project was referred to a Canadian company, which signed the contract a few days ago,” Wahied said at a press […]