New housing projects for Baghdad

By Ali Shattab Azzaman, April 22, 2012 The Baghdad Municipality is offering contracts for the constructions of more than 350,000 residential units in the capital and its suburbs. A statement by the municipality says land, designs and licenses are ready for investors and contractors willing to have a stake in the building of what should [...]

Iraqi Kurds announce new oil discovery

By Siri al-Rawi Azzaman, April 19, 2012 Iraqi Kurds say they have struck a new oil find at the disputed district of Shaikhan, north of the city of Mosul. The discovery of reserves of up to 917 million barrels in an area close to Mosul, which is the capital of the Province of Nineveh, is [...]

Qaeda leader suicide bombs himself and family in Iraq

By Hussein al-Yaaqoubi Azzaman, April 18, 2012 An al-Qaeda leader has suicide bombed himself, his wife and two children following a skirmish with the Iraqi troops, an Iraqi official said. Ahmad al-Zarkoushi, the administrative director of al-Saadiya district, said two explosive belts were blown up simultaneously as the troops were about to storm the Qaeda [...]

Central Bank fails to stem Iraqi dinar’s weakening vis-à-vis the dollar

By Zeena Sami Azzaman, April 17, 2012 Despite the sale of hundreds of millions of dollars in the past few weeks, the Iraqi Central Bank has failed to stall the dinar from depreciating. The dinar has lost about 11 percent of its value against the greenback in the past few months, falling to 1300 from [...]

Deputy Premier warns against attempts to meddle in Iraqi Central Bank’s affairs

By Khayoun Saleh Azzaman, April 16, 2012 Iraqi Central Bank coffers are reported to be brimming with hard cash, and senior officials say they are concerned about its independence. The central bank has rarely been an independent entity in Iraq particularly under the former regime of President Saddam Hussein. But with the overthrow of the [...]

Number of casualties is best measure to assess Annan’s mission

By Fatih Abdulsalam Azzaman, April 14, 2012 One of the best measures to assess whether the peace plan proposed by Arab League and U.N. envoy Kofi Annan is to count the number of casualties from the time it went into force. The number of the deaths that will be reported will automatically be added to [...]

Drilling new wells boosts oil output in Iraq’s Missan

By Majid al-Baldawi Azzaman, April 11, 2012 Missan, one of Iraq’s most impoverished provinces, hopes to improve its crumbling infrastructure by producing more oil. The province, of which the city of Amarra is the capital, has produced more than 3.5 million barrels last month and the volume is expected to surge soon, according to Ali [...]

More Iranian pilgrims to visit Iraq’s holy shrines

By Saadoun al-Jaberi Azzaman, April 10, 2012 There will a significant increase in the number of Iranian pilgrims paying homage to holy shrines in Iraq, the Iranian envoy in the religious city of Najaf was reported as saying. Currently, 4,000 Iranian pilgrims visit the shrines every day but the envoy said the number will soon [...]

Iraq hard cash reserves exceed $60 billion

By Khayoun Saleh Azzaman, April 10, 2012 The Central Bank has the ability to stave off speculation on the Iraqi dinar which saw its value vis-à-vis the dollar declining in the past two weeks. The dinar’s depreciation has prompted the Central to intervene by increasing supply of the greenback and withdrawing dinars from the market. [...]

Polish firm to revamp low-income neighborhoods in Iraq’s Kut

By Ali Fayadh Azzaman, April 8, 2012 A Polish firm has won a $30 million contract to restore and renovate low-income neighborhoods in the southern city of Kut. Kut is the capital of the Province of Wasit and like other major southern cities in Iraq it is in urgent need of reconstruction. To prevent corruption [...]