The latest Japan – Iraq News – Japanese, Jogmec, economic, investment, oil, gas, Basra & more – brought to you by Iraq Business News
So far the Japanese earthquake, tsunami, and nuclear disaster have had surprisingly little impact on emerging markets. While the Nikkei is down 13% since the quake (as of March 17), the MSCI emerging markets index has fallen only 3%. And in Iraq, Rabee Securities’ RSISX is actually up 0.4%. Emerging markets could continue to slide, […]
Reuters reports that the state-run Japan Oil, Gas and Metals National Corp (JOGMEC) said on Thursday it expects to provide about 16.3 billion yen ($198 million) of capital in 2011-2012 to Iraq's Gharaf [Gharraf, Garraf] oilfield development project. In return, JOGMEC said it would take a stake of less than 50 percent in Japan Petroleum […]
Bloomberg, quoting the Nikkei newspaper, says Mitsubishi's gas project in Iraq will receive long-term trade credit insurance from Japan's state-backed Nippon Export and Investment Insurance. According to the report, this is the first time in 21 years that Japan has provided this facility for a venture in the Middle East. The company will insure Mitsubishi’s […]
The following is the text of the speech from Salar Mohammed Amin, Vice-Chairman of Iraq's National Investment Commission, on the occasion of the signing of the Memorandum of Understanding with Japan: Signing the Memorandum of Understanding (MOU) today, we would like to increase the depth of the special relationship between our two countries, and we […]
Iraq plans to invite international oil companies to develop the giant Nassiriya oilfield in a bidding round later this year, a senior Iraqi government official said on Monday. Pre-qualified Japanese companies will be invited to develop the field, along with other interested global oil firms, Deputy Prime Minister for Energy Affairs Hussain al-Shahristani told reporters, […]
Japan is ready to boost cooperation and projects in Iraq’s energy sector including rebuilding Iraqi nuclear reactor(s), Hussain Shahristani, Iraqi deputy prime minister for energy,has told reporters. Shahristani reportedly said after his meeting with the Japanese Economy, Trade and Industry Minister, Akihiro Ohata, in Baghdad, "we discussed the issue of reconstruction of the nuclear reactor(s) […]
Iraq's Minister for Reconstruction and Housing, Mohammed Daraji, said a new large hospital will be constructed in Maysan [Missan] province. Daraji told AKnews that the 260-bed project has been allocated 35 billion Iraqi dinars (IDQ) [$30m] from the ministry's budget. The three-floor maternity and emergency hospital will be constructed during 2011 over an area of […]
The Japanese International Cooperation Agency (JICA) has allocated US$600 million [700 billion Iraqi dinars] for service projects in northern Iraq’s Kurdistan Region, according to Aswat al-Iraq. The media director of the Region’s Planning Ministry, Adnan Haji Kaka, told the agency on Wednesday that, "Kurdistan’s Planning Minister, Ali Sindi, has discussed with JICA’s Chairman, Aquari Satochi […]
The Chairman of future projects coordination in Karbala province, Hani al-Yasari, has confirmed that the Turkish Universal Acarsan Co. has completed the first stage of the modern hospital project in al-Herr district the province. He told NMC that the seven-floor hospital, to be built over 65 acres in 33 months, includes 492 beds initially, expanding […]
Iraq is aiming to become a major oil and gas supplier to Japan, Baghdad's oil minister, Hussein al-Shahristani, said on Wednesday after a meeting with Japanese officials. The Minister also said that Japan offered economic aid in the form of loans and investments to help build Iraq's infrastructure. The statement was released following a meeting […]
Bloomberg reports that Japanese consumers are being warned about an investment scam selling Iraqi dinar on predictions the currency will surge in value. A man in western Japan spent 2 million yen ($25,000) to buy 500,000 Iraqi dinar ($428) after a caller recommended buying the currency because it was expected to gain as much as […]
A Belgian dredger has arrived at Umm Qasr on Wednesday to work on increasing the depth of the shipping channel. The vessel is the 18,620 tonne trailing suction hopper dredger, the 'Francis Beaufort'. It is 142m in length, and has a maximum dredging depth of 71.5m. The report from AKnews says the project was facilitated […]
