BAGHDAD, Jan 23 (Reuters) – Iraqi mobile operator Asiacell’s
$1.35 billion share sale will be fully subscribed, bookrunner
Rabee Securities said, though a top bourse official and some
local investors were more cautious about the country’s largest
ever stock listing.
As the first major flotation since a U.S.-led invasion
toppled Saddam Hussein in 2003, Asiacell’s share offer is seen
as a test of confidence in the OPEC member’s economy, which is
recovering from years of war and economic sanctions.
BAGHDAD, Jan 8 (Reuters) – Iraqi Sunni Muslim and Kurdish
ministers boycotted a cabinet session on Tuesday to show support
for protests that are threatening Shi’ite Prime Minister Nuri
al-Maliki’s fragile cross-sectarian government.
Thousands of protesters have demonstrated and blocked a key
highway in Iraq’s Sunni provinces for more than two weeks to
challenge Maliki, a leader many Sunnis feel has marginalised
their community a year after the last U.S. troops pulled out.
BAGHDAD, Jan 2 (Reuters) – An advertisement for Iraq’s stock
exchange, running in local newspapers over recent weeks, poses
the question: “How can I invest in shares?” It then assures
readers that the process is easy, advising them to contact
brokerages for details.
Another ad, by Iraqi mobile telephone operator Asiacell,
warns readers: “Be ready, because we are ready.”
RAMADI, Iraq (Reuters) – Thousands of protesters from Iraq’s Sunni Muslim minority kept up a week-old blockade on a key highway on Thursday and readied mass rallies for Friday to demand concessions from Prime Minister Nuri al-Maliki.
Protests flared last week after troops loyal to Maliki, who is from the Shi’ite majority, detained bodyguards of his finance minister, a Sunni. Many Sunnis, whose community dominated Iraq until the fall of Saddam Hussein, accuse Maliki of refusing to share power and of favoring Shi’ite, non-Arab neighbor Iran.
BAGHDAD (Reuters) – Iraqi industry is beginning to shake off the legacy of years of violence and economic decline, with private investment in the sector expected to reach as much as $7 billion this year, up from $3 billion in 2011.
Though political instability and security issues remain, Adel Karim, the deputy industry minister, said that the country is reaping the rewards of opening up its financial and industrial sectors and luring foreign investment and expertise to revive its dilapidated factories.
BAGHDAD (Reuters) – The din of power generators, tangle of jerry-rigged electric wiring and hassle of security checkpoints are all part of the movie business in Iraq, not to mention the lack of studio space and dearth of experienced crews.
But actors like Sadiq Abbas are just happy to get back to work.
“The journey of a thousand miles starts with one step,” Abbas said on the set of a short film shot recently in Baghdad. “Let’s take this as the first step for Iraqi cinema.”
BAGHDAD (Reuters) – Iraq’s government removed central bank chief Sinan al-Shibibi on Tuesday over a corruption inquiry opened by lawmakers into bank officials suspected of abusing dollar sales.
Shibibi’s dismissal will do little to reassure investors who fear the government is trying to curb the autonomy of financial institutions from the central bank to the stock market. Last year Prime Minister Nuri al-Maliki won a court ruling that put the bank and other independent entities under cabinet supervision.
BAGHDAD, Oct 4 (Reuters) – Oil exports from Iraqi Kurdistan
have risen to 170,000 barrels per day (bpd) and will reach
200,000 “within days”, following a recent deal between Baghdad
and the autonomous region over payments, Oil Minister
Abdul-Kareem Luaibi said on Thursday.
Luaibi also said oil exports from Iraq would hit 2.7 million
bpd in October, and expected the oil price to stay within a
range of $100-120 per barrel, which he described as suitable to
both consumers and producers.
BAGHDAD, Oct 3 (Reuters) – Many Iraqis have lost faith in
their dinar currency but to some foreign speculators, it
promises big profits. The contrast underlines the uncertainties
of investing in Iraq as the country recovers from years of war
and economic sanctions.
The logic of the dinar bulls is simple. Iraq’s oil exports
rose to 2.6 million barrels per day in September, their highest
level in three decades; the country aims to hit 6 million bpd by
2017, which would put it close to Saudi Arabia’s current level.
BAGHDAD, Sept 20 (Reuters) – Iraq on Thursday denied a
Western intelligence report that said Iranian aircraft had flown
weapons and military personnel over Iraqi airspace to Syria to
help President Bashar al-Assad battle an 18-month-old uprising.
The allegation, reported by Reuters on Wednesday, said arms
transfers were organised by the Islamic Revolutionary Guard