Aseel's Feed
Oct 13, 2011

Iraq stock market chief sees capitalization doubling

ARBIL, Iraq, Oct 13 (Reuters) – Iraq’s stock exchange market
will double its capitalization to $8 billion once the three main
mobile-phone companies operating in the country are listed, the
market’s head said.

Asiacell, an affiliate of Qatar Telecom , Korek
Telecom, which is part-owned by France Telecom and
logistics firm Agility and Zain Iraq, a unit of
Kuwait’s Zain , are required by their license terms to
list shares on the local bourse.

Oct 11, 2011

Beauty salons flourishing in safer Baghdad

BAGHDAD, Oct 11 (Reuters) – Every month college student
Zahraa Ali joins the growing number of Iraqi women treating
themselves to hair, health and beauty therapies that a few years
ago were the stuff of daydreams.

As Iraq’s violence ebbs and Baghdad life stabilizes, hair
salons, gyms and beauty centres are starting to flourish again
in the capital, bringing back a touch of glamour lost during the
country’s bloody sectarian strife following the 2003 U.S.-led
invasion and the preceding economic sanctions in the 1990s.

Oct 5, 2011

Baghdad opens third film festival since invasion

BAGHDAD (Reuters) – Cinema fans in Iraq opened the third Baghdad International Film Festival this week in an attempt to revive the country’s movie industry after years of financial and security struggles since the 2003 U.S. invasion.

Violence in Iraq has fallen sharply since the height of sectarian strife in 2006-07 and the country is trying to rebuild itself. Film fans aspire to revive a time when Indian and Western action movies were popular at Baghdad cinemas, and social clubs also often showed films.

Sep 21, 2011

Iraq may suffer clean water crisis in 15-20 years

BAGHDAD, Sept 21 (Reuters) – Millions of Iraqis may have no
access to clean water in 15 to 20 years if Baghdad fails to
resolve its long-standing dispute over water resources with
neighbouring countries, Iraqi government officials said on
Wednesday.

Iraq, already struggling with water shortages, says
hydroelectric dams and irrigation in Turkey, Iran and Syria have
reduced the water flow in its main rivers, the Euphrates and the
Tigris.

Sep 18, 2011

Iraq’s Trade Bank reclaims $211 mln defaulted loans

BAGHDAD, Sept 18 (Reuters) – Trade Bank of Iraq has
recovered $211 million of defaulted loans since June, when
scandal rocked the state-run institution and its president fled
the country, its new chief said.

TBI President Hamdiya al-Jaf said the bank had persuaded
some customers who were in default to start paying their loans
again, and had recovered $73 million at its Arbil branch and
$138 million in Baghdad.

Sep 16, 2011

Iraq phone firms miss IPO deadline

BAGHDAD, Sept 16 (Reuters) – Iraq’s three mobile phone firms
could face penalties after missing an Aug. 31 deadline for
listing their shares on the local bourse, regulators said.

Zain Iraq, Asiacell and Korek have all said they are working
toward placing their initial public offerings on the Iraq Stock
Exchange (ISX) as required by Iraqi law under the 15-year, $1.25
billion operating licences they secured in 2007.

Sep 14, 2011

Analysis: Patchy power fixes head off Iraq protests, for now

BAGHDAD (Reuters) – The Iraqi government used a patchwork of short-term fixes to keep people from rioting over power shortages at the height of the summer but the reprieve, like the electricity supply, could be a fleeting thing.

With a permanent solution years away, future shortages could lead to street demonstrations, give ammunition to Prime Minister Nuri al-Maliki’s political rivals and further shake Iraqis’ limited faith in democracy, analysts said.

Aug 30, 2011

Iraqi bank sector ripe but reluctant for bids

BAGHDAD (Reuters) – Foreign banks are hunting for stakes in private Iraqi banks as the sector appears ripe for investment and consolidation but local banks are reluctant to take partners, fearing a loss of control, banking officials say.

Iraq’s financial sector is considered fertile ground for investment as the war-shattered nation rebuilds its vast oilfields and battered infrastructure eight years after the U.S.-led invasion that toppled dictator Saddam Hussein.

Aug 29, 2011

Analysis: Iraqi bank sector ripe but reluctant for bids

BAGHDAD (Reuters) – Foreign banks are hunting for stakes in private Iraqi banks as the sector appears ripe for investment and consolidation but local banks are reluctant to take partners, fearing a loss of control, banking officials say.

Iraq’s financial sector is considered fertile ground for investment as the war-shattered nation rebuilds its vast oilfields and battered infrastructure eight years after the U.S.-led invasion that toppled dictator Saddam Hussein.

Aug 22, 2011

StanChart in talks for Iraq’s Warka-central bank

BAGHDAD, Aug 22 (Reuters) – Standard Chartered Plc
is in talks to buy a stake in Warka Bank, one of Iraq’s biggest
private banks, a central bank official said on Monday.

Iraq’s central bank has a three-stage plan for banks to
increase their capital to $213 million by June 2013 to spur
lending in the war-battered state as it emerges from the shadow
of sanctions and the 2003 U.S.-led invasion of Iraq.

    • About Aseel

      "I started working as reporter with Reuters in 2005. I am covering the fields of social services and the Iraqi society in general, recovering from six years of warfare since the U.S.-led invasion of Iraq. In January 2008, I signed a contract with Reuters and gain the title of a correspondent. Starting from 2010 i started to cover the financial and economic story."
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