HSBC has said that it is “remarkably bullish on Iraq” and expects bank profitability in the country to increase by 100 times within 10 to 20 years, Bloomberg has reported. “There is more lending activity as the economy gets stronger,” James Hogan, country manager of HSBC Holdings said. HSBC entered the Iraq’s post-war banking sector […]
Tag Archives | Iraq
The latest news from Iraq – oil, gas, business and more – brought to you by Iraq Business News
Iraq Signs Agreement with Norway
Iraq has signed a development agreement of co operation with Norway. A press statement issued by the Foreign Affairs Ministry received by Eye media says that the minister, Hoshiar Zeebari, signed the agreement with Norway's ambassador. The agreement is for development and expansion of cooperation in environment, fund management and competence in oil administration. Zeebari […]
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.
Iraqi Construction Firms Implement ‘strategic’ Projects
State run firms belonging to the Ministry of Housing and Reconstruction are capable of executing “any project assigned to them,” according to an official statement. The statement, quoting Housing and Reconstruction Minister Bayan Dazai, said: “The ministry has reinstated in the past four years all its companies destroyed after the events of 2003.” Iraq had […]
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 […]
A government of everyone and no-one
If a week is a long time in politics, it is a very long time in Iraq. The first day of this week in Iraqi politics witnessed a Sunday 23 May meeting between Iraqiyya leader Iyad Allawi and Grand Ayatollah Ali al-Sistani. On the same day, the Washington Post released a new interview with Prime […]
Iraq, France Sign Deal for 7 Aerial Crop Sprayers
The Iraqi agriculture ministry signed a deal with France on Thursday to purchase seven aerial crop sprayers, according to a ministry press release. “The deal is worth $30 million,” read the release as received by Aswat al-Iraq news agency. “The contract also included training Iraqi pilots and technicians in France for the flying and maintenance […]
First Cash-for-work Programme in Iraq
The World Food Programme (WFP) today launched a cash-for-work programme in Iraq to help some of the poorest sections of Iraqi society earn enough money to pay for food that might otherwise be beyond their reach. "Food insecurity in Iraq is an access problem, not an availability problem," said WFP Country Director Edward Kallon. "While […]
Water Resources Minister Urges Dutch Companies to Invest in Iraq
Water Resources Minister Abdulatief Jamal Rashied on Thursday called on Dutch companies to invest in Iraq, mainly in irrigation projects, according to a ministry’s statement. “This came during his meeting with Dutch Ambassador in Baghdad Peter Van Liven, with whom he discussed ways of boosting bilateral relations in irrigation ,” said the statement received by […]
Iraq Cuts June Crude Supplies
Iraq will supply crude to at least two Asian buyers at around 10 percent below contract volumes for June, possibly the first major cut in allocations by the OPEC producer this year, industry sources said on Wednesday. The cut was on medium-heavy Basrah Light crude, they said. It was not immediately known why Iraq cut […]
Investment Funds Start to Target Iraq
The business community in Iraq, and internationally, is focused on the task of rehabilitating the oilfields and re-building the country. This is hardly a surprise; quite apart from the investments to be undertaken directly by the oil companies, Iraq's National Development Plan foresees over $200 billion in investment in services, economic stimulus and environmental protection […]
Iran, Iraq to Develop 5 Oilfields
Iran and Iraq have come to an agreement to provide a Master Development Plan (MDP) for the development of 5 shared oilfields