Monthly Archives: June 2010
Iraq – Iraqi Entrepreneurs Build Chicken Business
| June 30, 2010 | Filled under All Dinar Trade Articles |
Hussein and Dr. Wejdi Alshammary, 2 average brothers and businessmen making a living in Diyala province, Iraq, have created the Iraq Grand Parent Company, which is leading the way for the poultry industry in the province. Almost a year ago the brothers received their first shipment of day-old chicks from Arbor Acres, a subsidiary of poultry breeder Aviagen, to serve as…
Iraq Approves $17 Billion Gas Deal With Shell
| June 30, 2010 | Filled under All Dinar Trade Articles |
By SINAN SALAHEDDIN | AP- BAGHDAD: Iraq has approved a $17 billion joint venture project with Royal Dutch Shell PLC to tap associated natural gas in four southern oil fields, the government announced Tuesday in its latest push to develop an oil sector battered by years of neglect and war. The deal is expected to be a key part of the…
Turkish Firm Builds Five Hospitals in Iraqi Cities
| June 29, 2010 | Filled under All Dinar Trade Articles |
ZEYNEP YÜCETAŞ GAZİANTEP – Anatolia News Agency Turkey’s Acarsan Group will hand over five hospitals currently under construction to Iraq’s health ministry by 2012. The estimated total cost of the project stands at around $750 million. Having been active in Iraq for 27 years, Acarsan has exported various goods to the country based on demand, including food, white goods and construction…
Foreign Oil Firms’ Rush Too Much for Iraqi Port
| June 29, 2010 | Filled under All Dinar Trade Articles |
UMM QASR (Iraq) Iraq’s hopes of building economic prosperity on the back of multibillion-dollar deals to develop its vast oil reserves have met a major hurdle in a lack of dock space and an impenetrable bureaucracy at its top port. Neglect, under-investment, combined with red tape, corruption and bureaucracy have left Umm Qasr port, near the oil hub of Basra, ill-equipped…
Iraq Seeking Investors for 4 New Oil Refineries
| June 28, 2010 | Filled under All Dinar Trade Articles |
BAGHDAD: Iraq is seeking investors to help build four oil refineries at an estimated cost of $23 billion that would more than double the country’s current refining capacity, the country’s top oil official said Saturday. Iraq’s oil minister said partners who will build and run the refineries will have 5 percent discount for buying crude a recent concession to attract investors.…
US Troop Withdrawal in Iraq 60% Complete
| June 28, 2010 | Filled under All Dinar Trade Articles |
Arthur MacMillan AFP- Camp Victory (Iraq) The withdrawal of American combat troops and equipment from Iraq is 60 per cent complete two months ahead of a deadline that will serve as a precursor for a complete US military pullout. Camp Victory, a giant sprawling base on the edge of Baghdad airport, is one of eight sites where US soldiers are sorting…
Canadian Firm to Build Iraq’s First Monorail With $600 Million Dollar Deal
| June 27, 2010 | Filled under All Dinar Trade Articles |
Iraq’s city of Najaf has awarded a Canadian company a $600 million contract to build the country’s first monorail, an official said. Iraq’s city of Najaf has awarded a Canadian company a $600 million contract to build the country’s first monorail, an official said on Saturday. Anwar al-Haboobi, a member of the Najaf investment committee, told Reuters the project will be…
Iraq’s Kirkuk Gets $65 Million as Part of Share in Oil Royalties
| June 26, 2010 | Filled under All Dinar Trade Articles |
The oil-rich city of Kirkuk has received more than $65 million (approx. 80 billion dinars) as part of its share from oil exports. Under new Iraqi legislation, oil-producing provinces have the right to $1 from each barrel their oil fields export. The sum was Kirkuk’s share for the past four months. The money should be used specifically for reconstruction and development…
Iraqi Ports Received 35 Commercial Vessels in a Single Day
| June 25, 2010 | Filled under All Dinar Trade Articles |
An official informed that the Iraq Ports Corporation ports in Basra province have received, on Thursday, the largest number of commercial vessels in a single day. d He said Anmar net Agency (Voices of Iraq), that “the ports of Umm Qasr and Khor Al-Zubair and Abu Flus stronghold in Basra received (Thursday) 35 merchant ship from different nationalities and tonnage of…
Maysan’s Provincial Council Reveals How Funds Derived From Oil Imports Are Disbursed
| June 25, 2010 | Filled under All Dinar Trade Articles |
President revealed the Maysan provincial council Abdul Hussain Abdul Reda Saidi mechanism for the disbursement amounts Almsthsalp by imports of production of oil company Maysan and approved by the House of Representatives earlier in the budget of 2010, which gives oil-producing provinces the proportion of one dollar per barrel of oil product or a duplicate as well as the proportion of…
Energy Networks in Syria and Iraq Expected by End of 2010
| June 25, 2010 | Filled under All Dinar Trade Articles |
Sign and Syrian Minister of Electricity Ahmad Qusai Kayali, linked to the completion of energy networks in Syria and Iraq at the end of the year the electric six-link project, which extends from Libya to Turkey for a 400 kV transmission line. The Kayali in a press statement Thursday that the link between Syria and Lebanon has existed since a long…
Saddam’s Spy Files: Keys To Healing Or More Hurting?
| June 24, 2010 | Filled under All Dinar Trade Articles |
Seven years after the fall of Saddam Hussein’s regime, Iraq is still trying to win the return of voluminous records and archives compiled for Saddam’s Baath Party, many of which are currently being held in the U.S. Some Iraqis say those millions of documents hold the key to national reconciliation, but others warn that Iraq may not be ready to unlock…
Iraqi Students Come to U.S. Colleges to Help Rebuild Country
| June 23, 2010 | Filled under All Dinar Trade Articles |
By Didi Tang, USA TODAY Iraqi and American educators are collaborating to bring Iraqi students to the USA, where they will study at American universities and then return home to help rebuild Iraq’s higher-education infrastructure. A 600-student pilot program, launched by Iraqi Prime Minister Nouri Al-Maliki last summer, is bringing 400 students to U.S. schools this summer; 200 will go to…
Kuwait’s Lost Treasures: How Stolen Riches Remain Central to Rift With Iraq
| June 22, 2010 | Filled under All Dinar Trade Articles |
Hundreds of artifacts were plundered during Gulf war, and project to repatriate them is ongoing. Martin Chulov in Kuwait- Guardian.co.uk In a spacious but frugal office in Kuwait, a glossy catalogue lists the dozens of reasons why Kuwait and Iraq are still at daggers drawn after all these years. Sheikha Hussa Salem al-Sabah thumbs through the pages of the booklet, pointing…
U.S. Pullout From Iraq Triggers Epic Garage Sale
| June 22, 2010 | Filled under All Dinar Trade Articles |
By Matt Robinson and Khalid al-Ansary Matt Robinson And Khalid Al-ansary – BAGHDAD (Reuters) – The detritus of occupation comes in all shapes and sizes. In Iraq, it’s M-16 ammunition clips, rifle bipods and body armor at Baghdad’s Haraj market. Or Playboy DVDs, Irish Spring soap and military-issue MREs (Meal, Ready-to-Eat) at a store in Karrada district, scavenged from the trash…
Iraqis Voluntarily Return Historical Artifacts to Museum
| June 20, 2010 | Filled under All Dinar Trade Articles |
By Salah al-Rubaai – The antiquities office in the southern Iraqi Province of Wasit says it has received more than 700 historical artifacts from ordinary Iraqis. The office’s head, Burham Abdulridha, said the pieces were voluntarily turned over to his office which in its turn passed them over to the Iraq Museum. Abdulridha did not say how the pieces had fallen…
Iraq’s Development Plan to Create 3.5 Million New Jobs
| June 20, 2010 | Filled under All Dinar Trade Articles |
Shaymaa Adel – Iraq’s current five-year development plan is expected to create 3.5 new jobs, the Ministry of Planning and Development cooperation said. In a statement faxed to the newspaper, the ministry said under the 2000-2015 plan 2700 major projects are to be constructed across the country. “The implementation of the plan is certain to reduce unemployment by offering about 3.5…
Banking merger (1-9) – Zuhair Ali Akbar / General Manager of Central Bank of Iraq branch of al-Basrah
| June 19, 2010 | Filled under All Dinar Trade Articles |
Zuhair Ali Akbar / General Manager, Central Bank of Iraq branch of al-Basrah Introduction The increasing global trend towards consolidation in recent years as a result of globalization and open markets and the communications revolution and free trade agreements that have opened new areas of work and the European Union EU and NAFTA, AFTA and globalization seeks to achieve the logos:…
In Iraq, Watching a Game in Peace is a Pleasure
| June 18, 2010 | Filled under All Dinar Trade Articles |
Hadeel al-Shalchi – BAGHDAD Perhaps no country has gone through more change since the last World Cup than Iraq, where in 2006 the tournament played out as the nation was gripped by intense sectarian bloodshed. Not so this year. About 50 men sprawled on plastic chairs, smoked water pipes and sipped tea as they watched Brazil play North Korea on an…
National Alliance to Name PM Candidate Next Week
| June 18, 2010 | Filled under All Dinar Trade Articles |
Baghdad, June 17 (AKnews) – A leading figure in the National Alliance which includes the National Alliance and State of law revealed on Wednesday that the alliance will announce next week its candidate for Prime Minister, indicating that the candidate will be proposed on the agreement between both coalitions not through wise men committee. “The National Alliance will surprise the Iraq…
Middle East’s Oil – A Market in Transition
| June 17, 2010 | Filled under All Dinar Trade Articles |
Iraq is on the way to becoming the Middle East’s busiest oil market, while Saudi Arabia is looking to concentrate on smaller, more costly projects. Oil prices defied common sense in 2009; doubling during the course of the year, despite a dramatic fall in demand due to the worst economic downturn since the 1930s. China’s continuing thirst for the black stuff…
Dubai’s Al Habtoor in Talks Over $700m Iraq Contract
| June 16, 2010 | Filled under All Dinar Trade Articles |
Reuters, Dubai- Dubai-based construction firm Al Habtoor Leighton Group is in discussions over a $700 million offshore project in Iraq as it seeks more business outside the difficult United Arab Emirates market, its CEO said on Tuesday. Al Habtoor, an affiliate of Australia’s Leighton Holding, is also eyeing a new infrastructure contract in Saudi Arabia and two in Oman by year-end,…
Al Habtoor, an affiliate of Australia’s Leighton Holding, is also eyeing a new infrastructure contract in Saudi Arabia and two in Oman by year-end, the firm’s chief executive and managing director Laurie Voyer told Reuters.
“The company is very keen to take on more business outside the UAE,” Voyer said at the Reuters Global Real Estate and Infrastructure Summit in Dubai.
Al Habtoor has said it hopes to generate about 50 per cent of its revenues by early 2012 from the United Arab Emirates, down from around 80 per cent currently.
He said the firm would also look to slow its expansion plans into Libya in order to establish itself in other Gulf Arab countries.
Al Habtoor is in discussions over an offshore pipeline and SPM (single point mooring) project in Iraq in what would be its first contract there, and hopes to hear whether it is successful by the end of July, Voyer said.
“We’re putting together a business case at the moment and (getting) a better understanding what it might take to move into Iraq,” he said.
Construction firms have been rapidly expanding operations outside the UAE, where house prices in Dubai, the emirate hardest hit by the financial crisis, plunged some 60 percent from their peaks in 2008, and billions of dollars worth of projects were put on hold or cancelled.
Al Habtoor is eyeing a second contract in Saudi Arabia by year-end and hopes to have its own trading license in the kingdom in September, which Voyer said would help the firm win more business there.
“All of the metrics that you look at say there is a lot of work out there, but 85 per cent of the work is given to local companies. It’s very difficult for a company like us to…(more story)
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