What I see as a good sign emerging from the latest elections is the fact that Iraqis are seriously thinking of national interests. This is what counts regardless of who wins.
Tag Archives | Iraq
The latest news from Iraq – oil, gas, business and more – brought to you by Iraq Business News
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 […]
Water Shortages Impact Power Output
The issue of power shortages is related to water shortages, Electricity Minister Kareem Waheed said. Waheed said water shortages have forced his ministry to redirect investments in this vital sector. Power outages in Iraq may last up to 20 hours a day. Waheed said volumes of water reaching Iraq have dropped substantially . Iraq relies […]
Preliminary Election Results Expected This Week
An estimated 62% of the 19 million eligible voters went to the polls in Sunday's parliamentary elections – this was down from the 75% seen in the 2005 elections, but was still a very respectable turnout. Preliminary results should be available this week, but final official results will not be declared until the end of […]
Khuzestan Exports $421m to Iraq
In the eleven-month period ending February 19 over 1.5 million tons of goods worth some $421 were exported to Iraq from Khuzestan Province, southwest of Iran. The director of Khuzestan Province Customs Administration, Abbas Alidadi, told ISNA news agency that the goods are 216 percent heavier and 127 percent more in value compared to the […]
Tags: Industry & Trade, Iraq
Kurdistan Suspends Foreign Investment in Education
The government of Iraq's northern Kurdistan region has decided to suspend foreign investment in the education sector, in an effort to tackle low standards of teaching in the semi-autonomous province, Meed has reported. "We need to sort ourselves out and put our house in order first," Dlawer Ala'Aldeen, the minister for higher education said. The […]
KBR Posts 4th-quarter Decline As Work Winds Down
Engineering and construction company KBR Inc. said Thursday that its fourth-quarter earnings fell 17 percent as U.S. military work in Iraq declined and some contract fees were reversed, and it trimmed the low end of its full-year outlook. Profit for the fourth quarter slid to $73 million or 45 cents a share, from $88 million, […]
Oil Deals between Iraq and Global Majors
Iraq has signed a raft of deals with foreign oil companies that could take its crude output capacity up to 12 million barrels per day, rivaling top producer Saudi Arabia. There are still hurdles in the way, not least a March 7 parliamentary election that could usher in a new government inclined to try to […]
$1.5m Fine for Insider Dealing re Kurdish Oilfield
Mehmet Sepil, Chief Executive Officer of Turkish oil exploration company Genel Enerji, has paid the biggest fine handed out by the UK's Financial Services Authority (FSA) to an individual for market abuse. Genel has a 25% stake in the licence to explore the Miran oilfield in the Kurdistan Region of Iraq, with London-listed Heritage Oil […]
Opportunities at Breakfast
The reconstruction of Iraq is under way and opportunities for Texas businesses abound. The Bilateral U.S. - Arab Chamber of Commerce (BUSACC) was due to host a business breakfast and panel discussion featuring Iraq's Ambassador to the United States, the Senior Commercial Counsel and a high level Ministry of Energy official and delegation, along with […]
ISX Closes at 91 points on Monday
The Iraqi Stock Exchange (ISX) index registered a slight increase of 0.32% after six consecutive sessions to close at 91.16 points as rates of 11 joint-stock companies’ shares went up. Today’s session saw shares of 30 out of a total 81 electronically-registered joint-stock companies exchanging hands with 9 down, 11 up and 10 retaining their […]
Australians Agree Payout over Bribes
Australia's AWB wheat firm agreed on Monday to pay 39.5 million Australian dollars (35 million $US) to settle a class action for bribing the regime of former Iraqi president Saddam Hussein to secure lucrative deals. The former monopoly exporter will make the payment, including interest and costs, to more than 1,000 shareholders and farmers who […]
Tags: Agriculture, Iraq