Rafidain-Warkaa Banks Renew Relationship
Relationship between the state-owned al-Rafidain Bank and the private al-Warkaa Bank will normalize within days. “The al-Warkaa Bank has submitted guarantees that exceed the amount of deals between the two banks,” a source from the al-Rafidain Bank told Aswat al-Iraq news agency. He noted that recent news reports about the financial status of al-Warkaa Bank […]
Iraq Oil Minister 'not very happy' with OPEC Compliance
Iraq's Oil Minister said on Monday current crude prices were fair and not too high to hinder global economic recovery, but added that he was not very happy with OPEC members' compliance with production quotas.
Oil Price High Enough to Encourage Investment
“It’s not expected that there will be much oil available from other parts of the world,” he said. “Any additional demand, particularly from Asia, will have to be met by Iraq.”
Iraq Can Meet World Oil Demand, Say Minister
Al-Shahristani said Iraq would open another bid for a major gas exploration project in September.
Joint Bank Planned With Iraq, Turkey
Iran, Iraq and Turkey are discussing plans to set up a joint investment bank at Iran-Turkey border, an Iranian provincial official announced.
Iraq Tends to Privatise Its Economy
Iraq government said that there is a tendency to privatise Iraq economy but in a way that is different from that World Bank is asking for.
Swedish Firm to Execute Sewage Project in Baghdad
A new sewage project in the Iraqi capital will be executed by the Swedish firm EPC, the Baghdad Mayoralty said on Sunday.
Iraqi Ports / Japanese Toyota, Sign $7m Contract
Iraqi Ports Company signed a contract with the Japan-based firm, Toyota, to develop boarding and de-boarding processes at the Umm Qasr Port
Motorola Signs Zain Deal
Kuwait's Zain has signed a services management agreement with Motorola. Under the three-year contract, Motorola will operate and manage the Kuwaiti telecoms 3G network as well as handle the design, planning, support and optimisation. The two firms also have existing contracts in Iraq, Saudi Arabia, Nigeria and Jordan for several different technologies, network domains and […]
Iraqi Airways Properties to Go to State
The Iraqi transportation ministry has said that properties of the bankrupted Iraqi Airways will go to the state, Aswat al-Iraq has reported. The carrier, which had only one old airplane, could not purchase more due to the Kuwaiti compensation claims, the ministry said. The source described the airlines properties as "very little". ( AME Info […]
Lack of Water Threatens Iraq's Long-term Stability
Reuters‘ Serena Chaudhry reports lack of water is ruining crops and farmers’ livlihoods. She cites the case of Abdullah Hasan a 50-year-old father of five from Falluja in western Anbar province who has been was forced to abandon his 50 acres of land and take a job in construction after years of drought killed off […]
Umm Qasr Port Receives 6 Ships Carrying Rice
The Iraqi port of Umm Qasr received six ships carrying more than 200 thousand tons of rice for the Trade Ministry, on Sunday. “The Ships Apostolos, Patriarch, Alitis, Stellajabbah, Rubystar, and Vero 9 arrived by the port carrying more than 200 thousand tons of rice from U.S., Vietnam, and Thai origins,” the ministry said in […]