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  • Investors Iraq News's Avatar
    Today, 06:57 AM
    By John Lee. Talks between ExxonMobil and Iraq on the multi-billion-dollar Common Seawater Supply Project (CSSP) have reportedly reached an impasse. According to Reuters, two sides differ on contract terms and costs. Ian Thom, principal analyst at consultancy Wood Mackenzie, told the news agency: “The CSSP would be expensive and challenging but there’s opportunity here (for Exxon) … to get access to resources on a very large scale and to achieve something and really make a difference to its own business.” More here from Reuters. (Source: Reuters) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 3 view(s)
  • Investors Iraq News's Avatar
    Today, 06:57 AM
    By Omar Sattar for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.* Electronic Vote Counting sparks Controversy ahead of Iraqi PollsThis year, for the first time, Iraq’s general elections will be conducted via a modern electronic system. The initiative is intended to reduce the possibility of fraud while expediting results in the May 12 elections, according to the Electoral Commission, which announced the completion*of the new system April 9. Yet the supposed advantages of electronic vote counting and sorting have not prevented some of those on the country’s electoral lists from expressing anxieties about the new scheme. It is feared that Iraq’s lack of experience, capacity and modernization when it comes to such a system might bring the results into doubt and under dispute, especially among losing parties or those with fewer seats in the new parliament. In a meeting with Al-Monitor, the vice president of Iraq’s Electoral Commission, Rizkar Haji, discussed the details of the electronic system. He said, “This system was prepared by the previous*commission , which contracted with the South Korean company Miru *to import equipment for the electronic counting, as well as 40 Korean experts to implement and maintain the devices.” He said voters this year will*“use a special stamp instead of the customary pen to indicate their chosen candidate or list, and the devices will only read this stamp.” He said the*electronic counting and sorting system is integrated into a box that receives ballots “and sorts them immediately.” Haji said continuing technical training courses have been held*to “prepare Iraqi cadres for working with modern Korean systems. Around 100 employees have been trained so far, with dozens more expected to be trained before the election.” With regard to the possibility that*the counting machines will malfunction, be*misused or be subject to power outages, Haji said, “The devices are equipped with batteries to power them for 12 hours without electricity, while boxes at the 58,000 polling stations contain flash*drives that record results immediately for backup, comparing them with the results from counting and sorting devices.” He said the Electoral Commission is “wired to satellites that send results from each electoral center to the headquarters of the commission’s president in Baghdad, ensuring speed and enabling the announcement of results within hours.” Haji said*the electronic aspect will not be limited to vote counting and sorting. There will also be special hardware (imported from the Spanish company*Nidra) that reads each voter’s card and records fingerprints to prevent the repetition of votes and to establish the actual number of voters. The Electoral Commission did acknowledge that some pressure*had been exerted by political parties to cancel the electronic count and return to manual counting and sorting. Although these entities were not named, the most prominent bloc adopting a stance against the electric method is the State of Law coalition led by Vice President Nouri al-Maliki. In a statement March 30,*the coalition declared the need for “manual counting after the closure of booths in the presence of local and international observers, to not give any opportunity for skepticism about the integrity of the elections.” The leader of the Supreme Islamic Council, Jalal al-Din al-Saghir, told*Al-Ghad Press agency*April 14 that fraud*in the parliamentary elections is inevitable.*He questioned the accuracy of the electronic count, emphasizing the possibility of cheating*in the calculation of results. In any case, a judgment about the efficacy of the electronic counting devices has not yet been issued by the Electoral Commission’s specialized technical committees, which*ensure that the equipment has been manufactured specifically for Iraq. However, Basil Hussein, the deputy head of the Iraqi Center for Strategic Studies and an expert on electoral issues, told Al-Monitor that the center “has obtained information suggesting that the equipment imported by the commission suffers from a lot of stalling, contains batteries that are no good and cannot operate for long hours. It has not yet been subjected to tests by the committee and the only test it will undergo will be just days*before the election.” The commission said earlier this month that it will*test the Miru system*later in the month and could resort to a*manual system as an alternative in case the electronic system*does*not work properly. In terms of*the possibility of fraud, Hussein said: “The most worrying element is that the results will be sent via a satellite headquartered in an Arab country , without any encryption. After 200 hours, they will then be sent encrypted to Baghdad, meaning that there is a vast window of time to penetrate the results. This raises a lot of questions about the purpose of spending $100 million on buying these miserable devices and around $166 million*on electronic servers, while leaving 200 hours without any oversight of the election results.” (Picture: Hand of a person casting a vote into the ballot box during elections, from Roibu/Shutterstock) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 3 view(s)
  • Investors Iraq News's Avatar
    Today, 06:57 AM
    Women and children with perceived ties to IS denied aid, sexually exploited and trapped in campsIraqi women and children with perceived ties to the armed group calling itself the Islamic State (IS) are being denied humanitarian aid and prevented from returning to their homes, with an alarming number of women subjected to sexual violence, Amnesty International said in a new report published today. The Condemned: Women and Children Isolated, Trapped and Exploited in Iraq reveals widespread discrimination against women living in camps for internally displaced people (IDPs) by security forces, members of camp administrations and local authorities, who believe these women are affiliated to IS. Amnesty International established that sexual exploitation was occurring in each of the eight camps that Amnesty researchers visited. “The war against IS in Iraq may be over, but the suffering of Iraqis is far from over. Iraqi women and children with perceived ties to IS are being punished for crimes they did not commit,” said Lynn Maalouf, Middle East Research Director at Amnesty International. More here from Amnesty International. (Source: Amnesty International) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 3 view(s)
  • Will-it-happen?'s Avatar
    Today, 06:13 AM
    Do or did you ever own Baghdadsoft drinks ? If u did. Did you ever get ur dividends?
    9 replies | 185 view(s)
  • haggisbasher's Avatar
    Today, 02:24 AM
    I must of had some shares not in good name because i got 1.5 mill.paid into account,had sent letter asking that all transfered over to me,
    9 replies | 185 view(s)
  • Mo Dinar's Avatar
    Today, 01:58 AM
    Whew, Good thing obama vacated the White House when he did or we'd have Iraqi Security Officers taking the place over!!!
    1 replies | 34 view(s)
  • James's Avatar
    Today, 12:26 AM
    My brother has a Warka account and did not re-up his info so I am waiting to hear if this happened to him as well. ~ I will post if so.
    9 replies | 185 view(s)
  • Brazileiro's Avatar
    Today, 12:08 AM
    I'm going to wait and see what response I get from mr I about the latest news on FB. We may get that "know your client" document Warka sent me before but it was in arabic and they never did send me an english version. I read that someone had their proxy shares sold on 18 April and the money deposited into their account but the subscription share sale I don't expect to happen until the General Assembly meeting.
    9 replies | 185 view(s)
  • Brazileiro's Avatar
    Today, 12:03 AM
    I'll have to remember to add that in my email as well. I'm surprised there is still nothing on the Warka website,,,
    9 replies | 185 view(s)
  • James's Avatar
    Yesterday, 10:51 PM
    I sent an email to Mr. Issa today and asked if any future announcements that were posted on FB could also be posted on there web page ( in English). I also asked if it were possible to post in English on FB as well. Maybe if enough folks ask maybe they will work on that customer service.....
    9 replies | 185 view(s)
  • Will-it-happen?'s Avatar
    Yesterday, 08:32 PM
    so , from 1st may , we will all have to update our details ? Can someone please translate the new warka facebook posting? https://www.facebook.com/WarkaBank/photos/pcb.10156233624842394/10156233622087394/?type=3&theater also I still havent had any money deducted for the new warka capital increase (also no mention on www.isx-iq.net )
    9 replies | 185 view(s)
  • Brazileiro's Avatar
    Yesterday, 05:56 PM
    apparently the other page is instructions for the client for when they go to fill out the forms at Warka Bank. how to give information, how to fill out the forms etc. Didn't get a number by number translation. I'm going to email Mr Issa on sunday and see if this has anything to do with foreigners
    9 replies | 185 view(s)
  • Wolverine's Avatar
    Yesterday, 04:08 PM
    6683 replies | 462425 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 04:00 PM
    The Iraq Britain Business Council (IBBC) has announced that Basra Gateway Terminal (BGT) has joined the Council. BGT is one of Iraq’s premier container and multi-purpose cargo handling facility, with a team of high-performing Iraqi and International port professionals who deliver customer-focused, high productivity and congestion-free port services to Iraq’s economy. Situated in Umm Qasr, 50 km from Basra and 500km from Baghdad, the Terminal is operated by International Container Terminal Services Inc. (ICTSI). ICTSI is an internationally recognized expert in port construction, operation and management with more than 30 years of experience. It is one of the major maritime terminal operators in the world present in 6 continents, operating 30 marine terminals in 20 countries positioned in some of the world’s most strategic trade lanes. Christophe Michels, Managing Director of IBBC says: “IBBC is delighted to welcome Basra Gateway Terminal to the Council. BGT has a reputation for great professionalism and efficiency in Iraq and is managed by international experts in port operation and management. I have no doubt that BGT will prove a valuable addition to the IBBC and its growing membership in 2018.” Investment in Iraq: In April 2014, ICTSI signed a contract for 26 years with General Company for Ports of Iraq (GCPI) to operate, develop, and expand the container handling facilities at the Port of Umm Qasr. Presently BGT is operating four berths with two more under construction, catering for container, general, project and RORO cargo. ICTSI is half way through a USD 230 million investment programme, which includes rehabilitation and operation of the port’s existing facility at Berth 20 and construction of three new berths at Berth 25, 26 and 27. In 2017, BGT was extended to perform the operation at Berth 19 and 21 for general cargo and RORO cargo respectively hence helping BGT to launch itself in the project cargo for oil and gas sector business. These investments have been supported by the introduction of state-of-the-art technology in Iraq’s port sector with BGT being the first terminal to introduce the SAP ERM system and the Navis Sparcs N4 Terminal Operating System. (Source: IBBC) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 34 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 04:00 PM
    By John Lee. The United Nations has advertised new positions in Iraq: Urban Displacement and Out of Camp (UDOC) – Project Manager, Norwegian Refugee Council (NRC) Area Manager, Norwegian Refugee Council (NRC) Associate Programme Officer, UNOPS – United Nations Office for Project Services Chief of Section, Supply Chain Management, UNAMI – United Nations Assistance Mission for Iraq Administrative Assistant, UNAMI – United Nations Assistance Mission for Iraq Field Language Assistant, UNAMI – United Nations Assistance Mission for Iraq Consultant – Short-Term Finance Support, IREX International Logistics Manager, Relief International Project Manager Child Protection, Agency for Technical Cooperation and Development (ACTED) (Source: UN) (Picture: Finger pressing a new career start button, from Olivier Le Moal/Shutterstock) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 31 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 04:00 PM
    By John Lee. The United Nations has advertised new positions in Iraqi Kurdistan: Emergency and Post-Crisis Coordinator, IOM – International Organization for Migration Project Coordinator / Camp Coordinator and Camp Management (CCCM), IOM – International Organization for Migration Project Officer (GFATM), IOM – International Organization for Migration IT Operations Assistant (SCOPE), UNAMI – United Nations Assistance Mission for Iraq Appraisal Monitoring and Evaluation (AMEI) Intern, Agency for Technical Cooperation and Development (ACTED) Country representative, Terre des hommes (Tdh) Finance Manager, Oxfam Policy and Communications Manager, Oxfam (Source: UN) (Picture: Success, growth, career, development signpost from 3D_Creation/Shutterstock) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 29 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 04:00 PM
    Iraqi security officers are denying immediate relatives of suspected Islamic State (also known as ISIS) members security clearance to reclaim homes being occupied or to seek compensation, Human Rights Watch (HRW) said today. Security forces have also destroyed or confiscated some property. Such acts, based only on family relationships to ISIS suspects rather than individual security determinations, are a form of collective punishment. “These families deserve the same protections that Iraqi courts provide to all citizens,” said Lama Fakih, deputy Middle East director at Human Rights Watch. “Courts should be the guarantors against discrimination that will only further sectarian divisions in the country and delay needed reconciliation.” More here from HRW. (Source: HRW) Source: Iraq-BusinessNews.com. Post your commentary below.
    1 replies | 34 view(s)
  • Wolverine's Avatar
    Yesterday, 02:20 PM
    6683 replies | 462425 view(s)
  • Brazileiro's Avatar
    Yesterday, 12:25 PM
    translation of 1st page: By Warka Bank for Investment and Financing, Department of Banking Awareness and Public Protection: According to the instructions of the Iraqi Central Bank concerning updating the clients' information, kindly visit us in order to update your information within a period of 60 days from the first of May 2018, otherwise your accounts will be frozen.
    9 replies | 185 view(s)
  • thebest's Avatar
    Yesterday, 12:21 PM
    Im looking for the other interview
    17 replies | 1365 view(s)
  • thebest's Avatar
    Yesterday, 12:11 PM
    AC Question: Warka Bank has a program that allows someone to invest in the ISX. Did something occur that triggered Warka bank to do this for their depositors? Can you tell how this come about that Warka is now offering a way to invest in the ISX through a proxy? The stock that is purchased is it in the name of an individual or a company? Can you tell our readers what the name of the company or the individual is? CEO Al-Bunnia: As you are aware that foreign investment law is actually into operation in Iraq according to the new constitution. There is also an approval from the prime minister office to start this law. Unfortunately, no one is working on this law as there is no system being incorporated for this purpose at isx. In order to overcome this hurdle, and moving along with the law, we managed to establish a company called showneeze which belongs to the bank were we buy the shares in this name according to the laws and regulations were buy these shares are bought for our foreign customers were each customer has his own share profile in quantity and price bought or sold according to each trading session. Once the law is implemented, in the isx, then we will transfer these chares for our customer in his name with a minimum fee. I believe that this is the time for our customers to buy the shares that they want were we are giving them the opportunity to make good profits sinceonce the country is back to normal and foreign people can buy shares , believe me no one will be able to grab a handful of shares as this could be seen in the neighboring countries. The price of shares are now at its lowest that it will ever get. An example of this would you believe that price of one pepsi cola bottle equates to 100 shares of pepsi colla Baghdad. No one believes this but this the opportunity
    17 replies | 1365 view(s)
  • Brazileiro's Avatar
    Yesterday, 12:10 PM
    another new post on the Warka FB page though nothing on their website yet. I've asked on the Iraqi Warka Victimes FB page for a translation and will post any that happens. Can anyone here translate the 2 documents? https://www.facebook.com/WarkaBank/photos/pcb.10156233624842394/10156233622087394/?type=3&theater
    9 replies | 185 view(s)
  • Rick67's Avatar
    Yesterday, 03:48 AM
    I do believe that the "fat lady" is the World Trade Organization in this scenario. Iraq has resumed their progress with their working party and there are still documents that can not be accessed. When Iraq becomes a full member is when I believe it will happen.
    80 replies | 10664 view(s)
  • Will-it-happen?'s Avatar
    Yesterday, 01:39 AM
    Pity warka nevet gave us option to liquidate other shares. Nor pay us outstanding dividends from other companies. I coulda invested a whole lot more onto their forthcoming capital increase
    17 replies | 1365 view(s)
  • Wolverine's Avatar
    04-18-2018, 07:28 PM
    6683 replies | 462425 view(s)
  • crazyfrank's Avatar
    04-18-2018, 05:15 PM
    Prepare myself? now? after 10 years on the shelf? not sure how one might prepare for such a theoretical windfall such as 1:1 by the end of this month. Being as today is the 18th, an with 12 days left in April, I have to admit you are a brave soul to put your thumbs in the vice with such a prediction BatMan. Yes they may hold a meeting and post an announcement, although if it is not recognized outside the borders of Iraqi it would be just like that Joker Sadam money that was inflated inside the country only. This Ramadan hootenanny starts May 15, 2018, and as we all know nothing moves until that fat lady sings to finish that shindig in mid June. So to commit to "something" in April is highly skeptical, but yet if it should indeed occur, I do not believe anyone here is fully prepared to grasp what has happened and what to do now, as far as negotiating the currency into American Pecos. So on, or about May 1st we shall see aye?
    80 replies | 10664 view(s)
  • Investors Iraq News's Avatar
    04-18-2018, 02:30 PM
    By Elena Kornienko. Once upon a time, there lived a widow woman and her son, Jack, on their small farm in the country. Every day, Jack would help his mother with the chores — chopping the wood, weeding the garden and milking the cow.* But despite all their hard work, Jack and his mother were very poor with barely enough money to keep themselves fed. And one day he was told by his mother to go and sell their cow and use the money to buy seeds to plant a good crop. On his way to the market he met a man who offered to buy the cow for three magic beans. The boy did this deal, however his mother got very upset that he brought home only three beans…. Long story short, the magic happened and this family started making money and had a decent living. Fairy tale, right? We have been raised by so many stories like that, but did we relate any of them to our adult lives? Just last week I felt like this boy planting the magic seeds. The seeds of knowledge. The seeds to grow the expertise of local Iraqi companies which work with international oil companies (IOCs). It’s no secret that upon completion of any tender exercise, most of the bidders do not get any feedback from Procurement team on what made them loose that contract. And in most of the cases it is not price, but the technical proposal itself. Even having all capabilities to perform services, most of the contractors struggle to understand how to put their proposals in the best way. And Iraq, unfortunately, is not unique in that. It is a common situation that Procurement departments are detached from their bidders and contractors. Some of IOCs run workshops on understanding their specific requirements in tenders and systems, however what is still missing in the industry is a good education system for local contractors on requirements to tenders from IOCs. Last week, 10th April 2018, the first training in Iraq on tendering skills for oil and gas contractors took place in Basra, which was run independently from IOCs. It was specifically dedicated to local Iraqi companies and all participants got to benefit from learning what exactly is happening in Procurement teams of IOCs operating in Iraq and what makes bids win the contracts. It was the biggest surprise to all participants that 70 percent of bids do not even make through the technical evaluation, and Procurement teams do not even get to see their prices! And while this training was a matter of planting the seeds, the watering is still to happen. From the left to the right: Majid A. Abdullah from Basra Chamber of Industry, Sabeeh H. Al-Hashemi, Iraqi Businessmen Union Basra, Elena Kornienko, InfoCORE Consultancy, Najih Shinawa Ahmad Alqanas, Basra Chamber of CommerceAfter the training, the meeting with Basra Chamber of Commerce, Basra Chamber of Industry and Iraqi Businessmen Union took place to discuss the future opportunities for local companies. Whenever it comes to education and training, it is about the future vision. It might seem that these three beans are too small for the exchange of a milking cow, but the magic of those beans should not be underestimated. All these organizations have a great understanding of the importance of the development of local Iraqi companies, and agreed to provide support in conducting future training sessions for local companies in Basra. What was unique and magic about that meeting is the understanding that all participants are on the same level of grasping the needs of local companies development. It was planting those magic beans and start watering them to grow the capabilities of local Iraqi contractors to make the economy of Iraq more sustainable. Elena Kornienko has more than 15 years of professional experience in contracts, procurement and tendering in various roles from demand-identification to contract close-out. She has worked on major international oil and gas projects, including the Sakhalin-1 and Sakhalin-2 fields in Russia, and Iraq’s West Qurna-2. Now based in Dubai, she provides consultancy services to the oil and gas industry. Elena is a fluent English and Russian speaker, and a graduate of the Moscow State University of Commerce, holding a degree in Economics. She also graduated with distinction from the School of Business Administration at Portland State University and holds a CIPS diploma. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 41 view(s)
  • Investors Iraq News's Avatar
    04-18-2018, 02:30 PM
    Genel Energy has announced that the Taq Taq partners have received a gross payment of $8.30 million from the Kurdistan Regional Government (KRG) for oil sales during January 2018. Genel’s net share of the payment is $4.57 million. Genel also notes the announcement from DNO ASA, as operator of the Tawke PSC, that the Tawke partners have received $56.44 million from the KRG as payment for January 2018 crude oil deliveries to the export market from the Tawke licence. Genel’s net share of the payment is $14.07 million. The Company has received an override payment of $7.86 million from the KRG, representing 4.5% of Tawke gross licence revenues for the month of January 2018, as per the terms of the Receivable Settlement Agreement. In total, Genel’s net share of payments relating to January 2018 exports totals $26.50 million. (Source: Genel Energy) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 44 view(s)
  • Investors Iraq News's Avatar
    04-18-2018, 02:30 PM
    By John Lee. A crane has collided with a COSCO Shipping fuel tanker anchored at the port of Khor al-Zubair, reportedly piercing its hull and causing a ballast water leak. The video and further details can be seen on the Port Technology website. (Source: Port Technology) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 42 view(s)
  • Investors Iraq News's Avatar
    04-18-2018, 02:30 PM
    Canada commits to four more years of support to UNFPA in Iraq The Government of Canada has announced a four-year contribution of CAD 5 million to the United Nations Population Fund (UNFPA) in Iraq to build the capacity of national institutions to implement gender and reproductive health interventions across the country. Despite the end of military operations against the Islamic State in Iraq and Levant (ISIL), the devastating impact of the three-year war on women and girls in Iraq remains profound. The latest multi-year grant from the Government of Canada will enable UNFPA to transition its current humanitarian interventions towards longer-term development programs that will enhance gender equality and empowerment of women, and increase access to and utilization of quality reproductive health services. “While Iraq and its people must still continue to address immediate humanitarian needs, attention must now also turn to longer-term priorities. It is important that government decisions and system related to the delivery of reproductive health services are adequately informed by the needs of women,” said Claude Désilets, Head of Cooperation at the Embassy of Canada in Iraq. “It is a priority for Canada to support the Government of Iraq and Iraqi civil society as the best possible way of ensuring long-term sustainability of quality reproductive health service delivery. Canada is very happy to work with UNFPA on this most important of Canadian international assistance priorities. UNFPA is a strong, capable and trusted partner in Iraq,” he added. Mr Ramanathan Balakrishnan, UNFPA Representative to Iraq, reiterated the importance of the Canadian contribution to the communities in Iraq: “During the war against ISIL, UNFPA provided a significant volume of reproductive health and gender-based violence response services in Iraq. As the country enters a new phase of recovery and reconstruction, it is imperative to support government institutions, local partners, and communities in their effort to promote gender equality, women’s empowerment, and in advancing reproductive health and rights.” Canada has been a longstanding and donor to UNFPA operations in Iraq. The latest contribution brings Canada’s financial contribution to approximately US$ 30 million in support of the Fund’s gender and reproductive health programmes in Iraq since December 2014. (Source: UN) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 51 view(s)
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