Iraq Central Bank Cuts Key Rate to 6%
Bloomberg reports that the Iraqi Central Bank cut its key interest rate by one percentage point to 6%, to boost economic growth as inflation slows, according to figures posted on the bank's website. The country's real growth in gross domestic product probably slowed to 4.3 percent in 2009, from 9.5 percent the previous year, as […]
Iraq and Turkey enhance energy links
Negotiations for renewing the Kirkuk-Ceyhan pipeline agreement, which expires at the end of March, began in 2009 and were sealed this month by Iraqi Deputy Oil Minister Ahamd al-Shamma and Turkish Energy Minister Taner Yildiz.
Iraq awards $500m Rumaila well deals
Chinese firm Daqing and a joint venture between Schlumberger and the state-owned Iraq Drilling Co are each being awarded contracts to drill 21 new wells, while Weatherford International was awarded seven new wells.
Power Output Down In Iraq For End Of 2009
Power output was down for the last three months of 2009. Reduced output from power plants was the cause of the decreased production. This was the first time that electricity output decreased since the beginning of 2008.
UAE's Etisalat nears Iraqi Telco takeover
Telecommunications Corporation has reached an initial agreement with Iraq's Korek Telecom to buy a majority stake in the firm.
Iraq oil output goals unlikely to be met: Report
Iraq's ambitious plans to boost crude oil production is not likely to be met, IHS Cambridge Energy Research Associates said in a report on Wednesday. These "highly ambitious plans ... are unlikely to be fully realized given political, security, operational and infrastructure challenges".
Calls to new Government for housing
The Ministry of Construction and Housing called the next Iraqi government to support investment projects in the country, particularly these that are related to its works in order to resolve the housing crisis in Iraq.
Turkish Businesses to Invest in Basra
The Governor of Basra Province Shiltagh Aboud discussed with the Turkish Chancellor in Basra Ali Ridha as well as Turkish businessmen opportunities of investment in the province.
Minister of Industry meets his French counterpart
Minister of Industry and Minerals Fawzi al-Hariri, who is visiting France met with the French Minister of Industry and representatives of a number of major French companies.
2 Permits to Build in Muthanna
The investment commission in Muthanna has granted two permits to local investors for the establishment of a residential city and markets in the province. “The Muthanna commission has granted 36 investment permits to local and foreign companies thus far,” an official from the commission’s public relations department, Ali Hannon, told Aswat al-Iraq news agency. The […]
Dora Rail Project launched.
Iraq's electricity and transport ministries have announced the launch of a joint railroad project that will carry fuel to the Dora Power Station in southern Baghdad, Aswat al-Iraq has reported. Transport minister, Amir Abduljabbar has said that a similar project will be carried out in Basra province, south of Baghdad. ( AME Info FZ LLC […]
Baghdad Water Shortage ‘Solved in 20 Months’
The water shortage problem in Baghdad will be solved in 20 months, the Baghdad Mayor Sabir al-Issawi said on Monday. “Stage – 1 of the Rusafa giant water project that will be soon finished will produce around 910 thousand cubic meters of water per day,” al-Issawi told Aswat al-Iraq news agency. He said that the […]