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      by Published on 01-12-2013 04:02 PM     Number of Views: 71 

      By John Lee.
      Iraq troops have closed the only major border crossing with Jordan on Wednesday, after Sunni Muslim demonstrators blocked a highway to Syria and Jordan as part of mass protests against Shi’ite Prime Minister Nouri al-Maliki.
      The crossing at Traibil [Turaybeel, Tirbil, Tarbiel] (pictured) is in the Sunni province of Anbar, where protests erupted in late December after authorities arrested the bodyguards of Sunni finance minister Rafie al-Issawi [Rafie al-Esawi, Rafi Hiyad al-Issawi, Rafia al-Issawi] on terrorism charges.
      According to a report from Reuters, several thousand demonstrators are camped out on the highway near the Sunni stronghold of Ramadi, about 100 km (60 miles) west of Baghdad, before the point at which it splits, with one road leading to Syria and another to Jordan.
      One of the protest organizers, Saeed Humaim, told The Associated Press:
      The closure [of the Jordanian border] … serves only one purpose, and that is to damage the image of the protesters and depict them as troublemakers who want to make the lives of Iraqis more difficult … We will stand firm on our demands, and we will not be shaken by this irresponsible act.
      (Sources: Reuters, Associated Press)


      Source: Iraq-BusinessNews.com.

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      by Published on 01-12-2013 02:44 AM     Number of Views: 55 

      By John Lee.
      A spokesman for Iran’s*Oil Ministry has confirmed that Iran is planning to build a pipeline to carry natural gas to Iraq and Syria.
      Alireza Nikzad Rahbar told Iran’s PressTV on Wednesday:
      Based on agreements already reached, a 56-inch pipeline is to be laid out from Assaluyeh [near South Pars Gas Field in southern Iran] to the Iran-Iraq border to feed three Iraqi power plants running on gas … In the near future, a trilateral meeting will be held in Baghdad between Iran, Syria and Iraq to devise the necessary plans for extending the pipeline from Iraq to Syria.”
      Iraq has reportedly requested 30 million cubic meters per day (mcmpd) of natural gas from Iran in the first phase, which is scheduled to come on-stream by next summer.
      Nikzad Rahbar said Syria has requested 25-30 mcmpd of gas, but the route for the extension of the pipeline from Baghdad to the Syrian border and from there into the country has not been surveyed yet.
      He noted that the pipeline would be designed to deliver gas to Muslim countries like Jordan and Lebanon and that, if necessary, it could be extended to reach European countries
      Iranian Oil Minister Rostam Qasemi (pictured) said in July that the Islamic Republic is expected to start exporting natural gas to Iraq by March 2013 upon the completion of the Iran-Iraq gas pipeline project.
      (Source: PressTV)


      Source: Iraq-BusinessNews.com.

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      by Published on 01-12-2013 01:49 AM     Number of Views: 76 

      By John Lee.
      Iraq said on Wednesday that it is ready to host the 2015 Gulf Cup of Nations, with new facilities almost ready for the first football tournament to be held in the country since the US-led invasion in 2003.
      The 2013 tournament, currently being held in Manama, was originally scheduled to take place in Basra, but it was moved for security concerns; some Iraqis believe said the decision was politically motivated.
      Deputy sports minister Essam al-Diwan commented:
      Security and safety will be ensured … We will work on organizing the best Gulf Cup tournament ever to be held. We trust our brothers in the Gulf will back us, and we got support promises from the heads of sports federations.
      Al-Diwan said the new Sports City (pictured) in Basra will be opened in March, along with six hotels to accommodate teams and visitors.
      (Source: SuperSport)


      Source: Iraq-BusinessNews.com.

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      by Published on 07-02-2012 10:13 PM     Number of Views: 316 



      Rabee Securities
      Iraq Stock Exchange (ISX) market report (week ending: 28th June 2012).

      ID1,321 / $1.440,* (+0.9%) (weekly change).

      The number of week traded shares was 3.3bn and the weekly trading volume was ID6.5bn ($5.5mn).

      Please click here to download a table of listed companies and their associated ticker codes.

      ISX Company Announcements


      • ISX announced that the original shares of the following companies will resume trading on July 1, 2012 according to the instruction # 2 of ISC (amended in 2012): Mosul Bank (BMFI), Mansour Bank (BMNS), Sumer Commercial Bank (BSUC), United Bank for Investment (BUND), Iraqi Middle East Investment Bank (BIME), Bank of Baghdad (BBOB), Investment Bank of Iraq (BIBI) and Fallujah Construction Materials (IFCM).
      • Mosul for Funfairs (SMOF) will hold AGM on July 24, 2012 to discuss 2011 financial results, capital increase through 50% bonus issue and replacement of their facilities. ISX will suspend trading of SMOF starting July 16, 2012.
      • Subscription for the remaining shares (around 250mn shares) of the rights issue of Modern Construction Mat. Ind. (IMCM) will start on July 1. IMCM has not been trading since July 9, 2011 due to capital increase from ID3,747mn to ID5,621mn through 50% rights issue.
      • Original Shares of Baghdad Soft Drink (IBSD) resumed trading on June 27, after the AGM decision to increase the capital from ID125bn to ID133bn through bonus issue.
      • Union Bank of Iraq (BUOI) will hold AGM on June 30, 2012 to discuss 2011 financial results, and capital increase from ID59.8bn to ID100bn through bonus and rights issues. ISX suspended trading of BUOI starting on June 26, 2012.
      • Gulf Com. Bank (BGUC) suspended from trading on June 25 due to AGM which will be held on July 2 to discuss 2011 financial results, capital increase through bonus and rights issues and changing the Bank name from “Gulf Commercial Bank” to “Gulf National Bank”.
      • Credit Bank of Iraq (BROI) decided in its AGM held on June 29 to increase capital from ID100bn to ID150bn through 40% bonus and 10% rights issues.
      • Investment Bank (BIBI) decided in its AGM held on June 24 to increase capital from ID100bn to ID125bn through 14% bonus and 11% rights issues.
      • Ashur Bank (BASH) decided in its AGM held on June 23 to increase capital from ID100bn to ID150bn through 7.3% bonus and 42.7% rights issues.

      For the full RS Weekly Bulletin in PDF go to:* www.rabeesecurities.com.

      Source: Iraq-BusinessNews.com.

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      by Published on 06-30-2012 04:16 AM     Number of Views: 172 



      Twelve women competed in the beauty pageant held late on Thursday in Arbil, capital of the autonomous region in northern Iraq, organised by a Lebanese company and attended by foreign diplomats, singers, actors and officials.

      Reporters and photographers were allowed to enter the hall where the ceremony was held in the Rotana Hotel for speeches by the organising company and Kurdistan tourism officials.

      But after a performance of traditional Kurdish music and dance, the contestants presented themselves and the media was then asked to wait in the reception area of the hotel until the pageant was over.
      When journalists asked why they were told to leave, a supervisor said the rights for the pageant itself had been sold to a media company that planned to broadcast it later.

      Shene Aziz Ako, an 18-year-old from Sulaimaniyah, was the winner.

      "We organised the festival in a way that suits Kurdish traditions and habits; you will not see the bathing suites but you will see sports clothes and decent evening dress, which does not underplay the beauty of the girls," Roy Shalala, an official from the organising company, told journalists.

      He said the winner would have a year-long schedule working for a cause of her choice and that "we will put all our abilities into the success of the mission of the girl who will hold the crown," who had to be an Iraqi Kurd living in Kurdistan or abroad.

      Ako's cause was not immediately clear.

      The judges included actor Yusef al-Khal, singer Dina Hayek, plastic surgeon Nader Saab, all from Lebanon, and former Kurdistan parliament member Shokriyah Rasool, beauty expert Farhad Birbal and various beauty contest winners.

      A flashier Miss Lebanon pageant, involving far more revealing outfits, is held each year.
      Plastic surgeon Saab said he was encouraged to participate because he is "very close to Kurdish beauty" from operating on Kurdish women in Beirut.

      "Of course the standards here match the international standards, but beauty is still relative because Kurdish beauty is different from Lebanese, African or French beauty," Saab said.

      "We must respect the traditions and customs, but this does not prevent there from being a Miss Kurdistan," he said. "We focus on the beauty and culture, and beauty consists of a number of aspects."

      Omar Dizay, a Kurdish artist, said that "selection of Miss Kurdistan, is a new phenomenon," and a first for the region.
      Beauty pageants have been absent from Iraq for decades. During the time of the monarchy, which was overthrown in 1958, they were held in social clubs, especially in the southern port city of Basra.

      Kurdistan is a conservative region where women still face restrictions, though it is far safer than the rest of Iraq.

      Source: MSN
      by Published on 06-27-2012 10:35 PM     Number of Views: 122 



      The number of Iraqis under poverty line has been reduced to 16% of the country’s population of more than 30 million people from 23%, said Labor and Social Affairs minister.

      The number of Iraqis under poverty line has been reduced to 16% of the country’s population of more than 30 million people from 23%, said Labor and Social Affairs minister.

      The minister Nassar al-Rubaai said one main reason for the drop in poverty has been the country’s social security network and the interest free loans the ministry extends to low-income families to start small businesses.

      “The government has begun implementing national and strategic policies to alleviate poverty in accordance with the national vision that calls for the building of a democratic, just and balanced society,” said the minister.

      He said this year the government has allocated $84 million to support small projects by low income families across the country with the social security system currently covering almost all Iraqis with no regular income.

      “These allocations and policies have contributed to reducing the rate of those under poverty line from 23% to 16%,” he said.

      The plunge in poverty line has positively impacted employment which is still estimated at 16% in Iraq, the minister added.

      Iraq has seen a surge in its hard cash earnings due to marked increases in its oil export and firm oil prices in international markets.

      But the country still remains almost solely reliant on oil royalties for its hard cash most of which goes to covering civil servant salaries, defense and imports.

      The country’s exports other than oil are almost negligible.


      Read the entire article at IraqDirectory.com
      by Published on 06-27-2012 10:34 PM     Number of Views: 484 



      Parliamentary Finance: 2013 will see a circulation of two currencies at the same time drew the Finance Committee, the parliamentary that Iraq will see trading currencies at the same time over the next year 2013 of the circulation of the new currency after deletion of zeros with the survival of currency trading current throughout the year in question.

      A member of the Finance Committee Hassan Salman’s (Center Brief Media Network Iraq) that “the central bank operates in more than six months from now on the position of the deletion of zeros from the Iraqi currency and current which will apply from next year.”

      He pointed out that “the Finance Committee informed and in constant contact with the central bank governor and his aides, who learn about the Finance Committee and hold the details of this issue and the process of replacing the current currency the new currency will continue over the next year.”

      He said, “will end up dealing in the currency the current beginning of 2014 and this process will lead to strengthen the Iraqi currency fluctuations, especially after the Iraqi dinar exchange rate against the U.S. dollar in recent times. “

      And that “currency adjustment will benefit the Iraqi economy and will facilitate the handling of cash in the country by reducing the money supply in circulation now, which Tkdrbhawwala 30 trillion dinars.”


      Read the entire article at IraqDirectory.com

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      by Published on 06-27-2012 07:52 PM     Number of Views: 99 

      Levels of violence fell in Iraq last week, but the overall number of attacks was still above average. At least 69 people were killed and 179 injured in nationwide incidents. A total of 48 bombings left 42 people dead and over 160 injured. A rise in small arms attacks left 27 people dead and 11 injured.
      North
      Mosul experienced a significant proportion of last week’s violence. The security forces remain by far the most common target, but ethnic and religious minorities are also a common victim of violence. Militants also attacked electricity pylons and oil infrastructure in Ta’mim and Diyala provinces. Vulnerable assets such as lengthy pipelines and unmanned towers far from urban populations appear to have been deliberately singled out and organisations managing such assets are advised to review their security measures accordingly.


      Weekly Attacks in Iraq - the last 6 months

      Centre
      Most of last week’s violence in Iraq was concentrated along a belt of settlements in the central provinces, stretching from Hadithah in Anbar province, through Ramadi, Fallujah, Baghdad then on to Ba’qubah and Sa’adiyah in Diyala province. There was also a spike in activity in the holy city of Samarra (Salah ad-Din province) as Sunni radical groups appear to be stirring up sectarian tensions.
      Three suicide bombings (including one which was foiled in Fallujah) left 18 people dead and 43 injured in the region last week. The use of suicide bombers indicates the enduring, and indeed rising activity of radical Islamists, including those affiliated with al-Qaeda. Given the latest rise in attacks in the region it would appear that the group is attempting to implement a co-ordinated and sustained campaign of violence aimed at discrediting the security forces and driving a wedge between the Sunni and Shi’ah communities. This in turn could lead to a worsening in conditions and put a major strain on the security forces.
      At least six people were also kidnapped in what appears to have been a mini-spike in abductions in Anbar province last week. AKE will be issuing its next quarterly kidnap report in July. If you would like to purchase a copy in advance please contact intel@akegroup.com.
      South
      The south of Iraq was relatively quiet last week, although there was a handful of non-fatal but nonetheless concerning attacks in Maysan and Dhi Qar provinces. Militia groups appear to be increasing their attacks against rivals organisations and their supporters, with a number of bombs detonated outside the homes of politically-connected individuals over recent weeks. However, casualties from these attacks remain minimal, while most economic interests (including the energy and construction sectors) are not being affected.
      John Drake is a senior risk consultant with AKE, a British risk mitigation company working in Iraq since 2003. You can access AKE’s intelligence website Global Intake here, and you can obtain a free trial of AKE’s Iraq intelligence reports here.
      *


      Source: Iraq-BusinessNews.com

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