Iraq is poised to be a future tourism hotspot, reveals the new WTM Global Trends Report. The report, in association with Euromonitor International, shows Iraqi tourism is growing fast with increased airline and hotel capacity following the country’s successful attendance at World Travel Market 2009 – its first visit to a travel and tourism trade […]
Marsh has announced that it had signed a mutually exclusive agreement with Anglo Arab Insurance Brokers, the only international broker to be licensed and registered to operate in Iraq with offices across the country. Under the terms of the agreement, Marsh and AAIB will co-operate on insurance coverage, risk management and claims handling issues for […]
Leading emerging markets insurance provider launches dedicated travel insurance website for Iraq Intrepid adventurers and culture vultures can now add Iraq to list of ‘must visit’ destinations Easy on-line access to tourist insurance [Picture: Ishtar Gate, Babylon, built circa 575 B.C.] AAIB Insurance Brokers, the leading international insurance broker for Iraq, has launched the first […]
The Financial Times ran an article on Wednesday by Farouk Soussa, Citigroup’s Chief Economist for the Middle East. While we're all used to hearing the statistics and projections, Mr Soussa gave us a more engaging metaphor for Iraq's potentially prosperous future: “Beneath the unsettled surface, Iraq is an economic giant, slowly but surely awakening after […]
The Iraqi Industry Ministry has ordered its factories to work on generating electricity required for production, to minimize the load on the national electricity network. The ministry noted that power shortage is causing losses to its factories. “The ministry has issued contracts to purchase large generators for this purpose,” the ministry said in a press […]
Markets hate uncertainty, but history has shown us that times of uncertainty create the greatest opportunities. Warren Buffett's famous saying, “be fearful when others are greedy, and be greedy when others are fearful”, is true whether referring to the stock market or to risk-taking in general. And Iraq is giving us plenty of risk and […]
The visit to Iraq last weekend by US Vice-President, Joseph Biden, may help to accelerate the process of forming the next government, but the frustrating delays in reaching an agreement highlight the risks of doing business in 'frontier' countries. Often, though, our perception of risk can be out of step with reality, and what appears […]
Prime Minister Nouri al-Maliki and his main rival for the top position, Ayad Allawi, met on Tuesday to discuss a resolution to the ongoing parliamentary stalemate. This was only the second meeting between the two men since the inconclusive 7th March election. While this was welcome news, Ali al-Dabbagh, a spokesman for the prime minister, […]
A number of companies participating in a Basra international fair revealed on Saturday their intention to seek investment opportunities in the province, the 'economic capital of Iraq', according to a source cited by AK News. The 5-day Basra International Fair opened on Friday, with the participation of more than 150 local and foreign companies specialising […]
Basra's governor has announced projects totalling more than 50 billion Iraqi dinars ($42m), according to a report from AK News. "Many projects will be implemented and financed from Basra's budget at a cost of more than 50 billion Iraqi dinars. The first project is to establish an industrial city for 40 billion dinars that includes […]
An Iraqi Economist said on Thursday that the Central Bank began to reduce interest rates by approximately six percent for loans and four percent for bank deposits, to encourage investments in the country, after a series of robberies that took place recently on Iraqi banks. The expert said: "This shift reflects a new policy of […]
As the new Iraqi parliament remained deadlocked on the formation of a new government, frustrated Iraqis took to the summer streets in protest at the government's failure to provide an adequate and reliable supply of electricity. With peak temperatures of nearly 50C (120F), and many Iraqis still getting less than six hours of electricity per […]
