Furnaces and Compressors saught
The Iraqi Ministry of Industry has signed an investment contract to purchase rotary furnaces for its factories. The Ministry also received air compressors that have been installed and are operational. (Aswat Al Iraq)
Intersection Bridge Opened in Muthanna
A new intersection bridge was opened in al-Muthanna province on Thursday at a total cost of seven billion Iraqi dinars. “The project is strategic,” Ibrahim al-Mayiali, the governor of Muthanna, said in a speech during the inaugural ceremonies. He said that other projects will be opened in Muthanna soon. Samawa, the capital city of Muthanna […]
Iraq Investors Trade Polls for Portfolios
The room is buzzing. Men lean on wooden shelves as they phone brokers sitting behind a glass barrier. Others focus on screens showing the latest trades on the Iraq Stock Exchange, while an AK-47-wielding guard keeps his distance behind. The market has resumed trading after a five-day break because of Sunday’s general election and the […]
OPEC Likely to Face Iraq Test Sooner Than Expected
The storm brewing on the Organization of Petroleum Exporting Countries' (OPEC) horizon over future Iraqi oil output could engulf the producer group sooner than it would like. "There's only one issue, but it's a big one. It's a tsunami. Iraq," said Leo Drollas at the Centre for Global Energy Studies. After years of sanctions and […]
ExxonMobil Plans 4% Spending Boost
US super major ExxonMobil will increase its capital spending by nearly 4% this year to $28 billion as it evaluates new fields around the world, but it cautioned that the global economy remained unsteady. ExxonMobil, the world's largest publicly traded oil company, also said it had completed initial tests at Iraq's West Qurna field, where […]
Election Update – al-Maliki in the Lead
BBC reports that the first partial results have just been released. The provinces of Najaf and Babil, in the Shia south, give Mr Maliki's State of Law coalition 124,734 votes in total, with at least 30% of votes counted, followed by 103,583 for the Shia-dominated Iraqi National Alliance. Final results for all 18 provinces are […]
Authmaan demands a negotiation team for Ministries Posts
Khalid Al- Asady (State of Law), has suggested that Al-Maliky is qualified to take a second term, as his block would get the third of the seats at the Parliament, according to first data from the elections.
Alaawy block tries to calm the battle for the State Presidency
"The allocation of the presidency position, is based on two options, one of them is Tariq Al-Hashimy, or as a fall-back the nomination of Ayad Alaawy for the PM position”, adding that there is already an agreement that the presidency poison should be taken by an Arab
Academic Warns of Hammour Extinction
An Academic warned on Wednesday of the extinction of Hammour fish in Iraqi territorial waters and in the Gulf. “The sea sciences center of the Basra University has adopted several precautionary measures to increase the number of Hammour,” the center’s media official, Hashem Zaki, told Aswat al-Iraq news agency. “The center will work on increasing […]
Symposium to Discuss Trade, Investment in Karbala
The Chamber of Commerce in Karbala has held a symposium to discuss trade and investment in the province, the chamber’s head said on Wednesday. “The symposium included a number of officials and traders, as well as parliamentarians, local government members and more than 60 Iraqi traders,” Nabeel al-Anbari told Aswat al-Iraq news agency. The symposium […]
Iraq Aims to Limit Inflation
The Iraq Central Bank Governor said that the policy of the Bank is based on encouraging funds to Iraqi banks and not the other way round in order to limit inflation in Iraq. The Iraq Central Bank is keen to raise interest rates to make it equivalent to the rate of inflation in the country […]
Iraq Expects to Step up T-bill Activity in 2010
Iraq expects to step up its Treasury bill activity in 2010 to help plug continuing budget deficits and foster a secondary treasury market, the Central Bank and Finance Ministry said in a submission to the IMF. Iraq, only just emerging from sectarian war but still battling a stubborn insurgency, also wants to develop foreign exchange […]