Citigroup Inc. (C)’s decision to open in Iraq and the easing of United Nations sanctions dating back to the Saddam Hussein era are driving yields on the OPEC oil producer’s bonds down from a four-year high.

Yields on the Middle Eastern nation’s $2.7 billion security due January 2028 slid 137 basis points to 7.43 percent in the eight days from June 24 after Citigroup became the first U.S. lender to venture into Iraq since Hussein was toppled a decade ago. That compares with a 39 basis-point drop to 5.19 percent in the HSBC/Nasdaq Dubai Middle East Conventional Sovereign US Dollar Bond Index in the period. Iraq’s bonds yielded 7.4 percent at 4:20 p.m. today in Baghdad.

Citigroup, JPMorgan Chase & Co. (JPM) and Standard Chartered Plc (STAN) are the latest international banks to expand in the second-largest producer in the Organization of Petroleum Exporting Countries. The UN Security Council added to investor confidence by voting on June 27 to remove the threat of military enforcement on the issues of Kuwaiti people, property and archives missing since Iraq invaded the country in 1990.

Citigroup’s announcement “had an impact because it meant that big banks are going into Iraq,” Sanjay Motwani, president of Singapore-based Sansar Capital Management LLC, which manages a fund with $30 million invested in Iraqi equities, said in a telephone interview. “Therisk premium for Iraq sharply dropped after June 24, mainly in anticipation of the UN decision to ease the sanctions, which was eventually adopted June 27.”

Oil Output

Iraq, with the world’s fifth-largest proven oil reserves, is boosting output and rebuilding its economy after decades of sanctions, war and neglect. Exxon Mobil Corp. (XOM)OAO Lukoil (LKOH) and other companies helped boost production by 24 percent in 2012. The government is increasing spending by 18 percent this year to $118 billion, and the International Monetary Fund forecasts an annual economic growth rate of 9 percent, the fastest after Libya among 18 countries in the region.

The spread between Iraqi sovereign bonds and U.S. Treasuries, which peaked this year at 653 on June 25, has narrowed since then by 127 basis points, or 1.27 percentage points, JPMorgan Chase’s EMBIG Sovereign Spread Iraq index shows. The spread was 506 basis points yesterday.

‘Strong Performer’

“In a global context, Iraq has been a strong performer,” Gabriel Sterne, a London-based economist at Exotix Holdings Ltd. whose research includes 40 frontier-market sovereigns, said in a July 16 e-mail. “There is the usual trade-off between political risk and strong revenues that investors have to weigh up. So I think the bonds are roughly fairly valued.”

Car bombings and other violent acts threaten to undermine the country’s stability. The yield on Iraq’s bonds gained 20 basis points after July 2 amid a wave of deadly violence. At least 337 people have been killed in attacks across the nation so far this month, the Associated Pressreported, citing police and local officials.

Iraq faces internal political wrangling and a dispute between the central government in Baghdad and the semi-autonomous Kurdish region, which has halted oil exports by pipeline since December. Street protests by minority Sunni Muslims, worsening relations with Turkey and the civil war in neighboring Syria contribute to tensions in the country.

UN Vote

The UN Security Council boosted Iraq’s prospects when it agreed that the issue of missing Kuwaiti citizens and disagreements over Kuwaiti archives and property should be resolved peacefully, under Chapter 6 of the UN Charter. The council kept the constraints pertaining to an arms embargo and war reparations under Chapter 7, which allows the use of force.

Iraq has set aside 5 percent of its oil revenue to pay compensation to Kuwait for war-related damages and will repay the $11 billion it owes by 2015, Iraqi Foreign Minister Hoshyar Zebari said June 12.

“The fact that some sanctions under Chapter 7 have been lifted means that it will be easier for international banks to trade and have a relationship with local Iraqi banks,” Sansar’s Motwani said.

Foreign banks were barred from the nation until after the U.S.-led invasion ousted Hussein’s government. Today, 15 international banks operate in the country of 33 million people. They compete with seven state banks, 23 private lenders and nine Islamic banks, according to the central bank’s website.

Asiacell Listing

The country’s stock exchange attracted investors in the February listing of Asiacell Communications PJSC, which raised $1.3 billion in the Middle East’s biggest initial public offering since 2008.

Citigroup plans to open representative offices and branches in Baghdad and the cities of Basra and Erbil to benefit from an estimated $1 trillion of infrastructure spending, Mayank Malik, the U.S. bank’s chief executive officer for Jordan, Iraq, Syria and the Palestinian territories, said in a June 27 interview. The lender is also among international banks seeking to finance a pipeline to export Iraqi oil and natural gas through Jordan.

Standard Chartered plans to open branches this year in Baghdad and Erbil, followed by a third office in Basra, a southern oil hub, in 2014. JPMorgan Chase signed a one-year agreement on July 6 to help the Trade Bank of Iraq finance imports of goods and services, John Gibbons, managing director and EMEA regional executive for the New York-based bank, said in a July 7 interview.

“Foreign banks entering Iraq are mainly there for trade finance, as companies from their respective countries need financial tools and services to do business in Iraq,” Abdul-Aziz Hassoun, executive director of the League of Private Banks, an Iraqi business group, said by phone on July 17.

“Iraq is a promising market because of the rising oil revenue and infrastructure projects which have helped boost the level of trade finance on an annual basis,” he said.

Source: Bloomberg

Baghdad (AIN) -MP, Ouday al-Awadi, of al-Ahrar Bloc and the member of the Oil and Energy Parliamentary Committee called the MPs to support the Iraqi citizens through investigating the Minister of Electricity, Karim Aftan, next week.

Awad reported in a statement received by AIN ”We call upon all the MPs to support the Iraqi citizens by holding an investigation session with the Minister of Electricity next week, ” he added, noting that ”The Presidency of the Cabinet has scheduled the next week to investigate Aftan by asking him (30) questions, mostly regarding the electric production stations contracts.”

“We hope all sides not to intervene in the investigation or try to postpone it since it has been scheduled two years ago and we should put the interest of the citizens above any considerations,” he added.

Most of the Iraqi provinces are suffering a great lack of electric power equipping which lead to organize demonstrations in Basra and Dhi-Qar provinces.

LINK

 

Baghdad (AIN) -MP, Ouday al-Awadi, of al-Ahrar Bloc and the member of the Oil and Energy Parliamentary Committee called the MPs to support the Iraqi citizens through investigating the Minister of Electricity, Karim Aftan, next week.

Awad reported in a statement received by AIN ”We call upon all the MPs to support the Iraqi citizens by holding an investigation session with the Minister of Electricity next week, ” he added, noting that ”The Presidency of the Cabinet has scheduled the next week to investigate Aftan by asking him (30) questions, mostly regarding the electric production stations contracts.”

“We hope all sides not to intervene in the investigation or try to postpone it since it has been scheduled two years ago and we should put the interest of the citizens above any considerations,” he added.

Most of the Iraqi provinces are suffering a great lack of electric power equipping which lead to organize demonstrations in Basra and Dhi-Qar provinces.

LINK

 

Baghdad (AIN) –MP, Ouday al-Awadi, of al-Ahrar Bloc and the member of the Oil and Energy Parliamentary Committee called the MPs to support the Iraqi citizens through investigating the Minister of Electricity, Karim Aftan, next week.
Awad reported in a statement received by AIN ”We call upon all the MPs to support the Iraqi citizens by holding an investigation session with the Minister of Electricity next week, ” he added, noting that ”The Presidency of the Cabinet has scheduled the next week to investigate Aftan by asking him (30) questions, mostly regarding the electric production stations contracts. ”
“We hope all sides not to intervene in the investigation or try to postpone it since it has been scheduled two years ago and we should put the interest of the citizens above any considerations,” he added.
Most of the Iraqi provinces are suffering a great lack of electric power equipping which lead to organize demonstrations in Basra and Dhi-Qar provinces. END

Citigroup Boost for Iraqi Bond Amplified by UN Vote: Arab Credit

By Nayla Razzouk – Jul 18, 2013 8:22 AM CT

Citigroup Inc. (C)’s decision to open in Iraq and the easing of United Nations sanctions dating back to the Saddam Hussein era are driving yields on the OPEC oil producer’s bonds down from a four-year high.


Yields on the Middle Eastern nation’s $2.7 billion security due January 2028 slid 137 basis points to 7.43 percent in the eight days from June 24 after Citigroup became the first U.S. lender to venture into Iraq since Hussein was toppled a decade ago.

That compares with a 39 basis-point drop to 5.19 percent in the HSBC/Nasdaq Dubai Middle East Conventional Sovereign US Dollar Bond Index in the period. Iraq’s bonds yielded 7.4 percent at 4:20 p.m. today in Baghdad.


Citigroup, JPMorgan Chase & Co. (JPM) and Standard Chartered Plc (STAN) are the latest international banks to expand in the second-largest producer in the Organization of Petroleum Exporting Countries.

The UN Security Council added to investor confidence by voting on June 27 to remove the threat of military enforcement on the issues of Kuwaiti people, property and archives missing since Iraq invaded the country in 1990.


Citigroup’s announcement “had an impact because it meant that big banks are going into Iraq,” Sanjay Motwani, president of Singapore-based Sansar Capital Management LLC, which manages a fund with $30 million invested in Iraqi equities, said in a telephone interview.

“The risk premium for Iraq sharply dropped after June 24, mainly in anticipation of the UN decision to ease the sanctions, which was eventually adopted June 27.”


Oil Output

Iraq, with the world’s fifth-largest proven oil reserves, is boosting output and rebuilding its economy after decades of sanctions, war and neglect.

Exxon Mobil Corp. (XOM)
, OAO Lukoil (LKOH) and other companies helped boost production by 24 percent in 2012.

The government is increasing spending by 18 percent this year to $118 billion, and theInternational Monetary Fund forecasts an annual economic growth rate of 9 percent, the fastest after Libya among 18 countries in the region.


The spread between Iraqi sovereign bonds and U.S. Treasuries, which peaked this year at 653 on June 25, has narrowed since then by 127 basis points, or 1.27 percentage points, JPMorgan Chase’s EMBIG Sovereign Spread Iraq index shows. The spread was 506 basis points yesterday.


‘Strong Performer’

“In a global context, Iraq has been a strong performer,” Gabriel Sterne, a London-based economist at Exotix Holdings Ltd. whose research includes 40 frontier-market sovereigns, said in a July 16 e-mail.

“There is the usual trade-off between political risk and strong revenues that investors have to weigh up. So I think the bonds are roughly fairly valued.”


Car bombings and other violent acts threaten to undermine the country’s stability.

The yield on Iraq’s bonds gained 20 basis points after July 2 amid a wave of deadly violence. At least 337 people have been killed in attacks across the nation so far this month, the Associated Press reported, citing police and local officials.


Iraq faces internal political wrangling and a dispute between the central government in Baghdad and the semi-autonomous Kurdish region, which has halted oil exports by pipeline since December.

Street protests by minority Sunni Muslims, worsening relations with Turkey and the civil war in neighboring Syria contribute to tensions in the country.


UN Vote

The UN Security Council boosted Iraq’s prospects when it agreed that the issue of missing Kuwaiti citizens and disagreements over Kuwaiti archives and property should be resolved peacefully, under Chapter 6 of the UN Charter.

The council kept the constraints pertaining to an arms embargo and war reparations under Chapter 7, which allows the use of force.


Iraq has set aside 5 percent of its oil revenue to pay compensation to Kuwait for war-related damages and will repay the $11 billion it owes by 2015, Iraqi Foreign Minister Hoshyar Zebari said June 12.


The fact that some sanctions under Chapter 7 have been lifted means that it will be easier for international banks to trade and have a relationship with local Iraqi banks,” Sansar’s Motwani said.


Foreign banks were barred from the nation until after the U.S.-led invasion ousted Hussein’s government. Today, 15 international banks operate in the country of 33 million people. They compete with seven state banks, 23 private lenders and nine Islamic banks, according to the central bank’s website.
Asiacell Listing

The country’s stock exchange attracted investors in the February listing of Asiacell Communications PJSC, which raised $1.3 billion in the Middle East’s biggest initial public offering since 2008.

Citigroup plans to open representative offices and branches in Baghdad and the cities of Basra and Erbil to benefit from an estimated $1 trillion of infrastructure spending, Mayank Malik, the U.S. bank’s chief executive officer for Jordan, Iraq, Syria and the Palestinian territories, said in a June 27 interview.

The lender is also among international banks seeking to finance a pipeline to export Iraqi oil and natural gas through Jordan.

Standard Chartered plans to open branches this year in Baghdad and Erbil, followed by a third office in Basra, a southern oil hub, in 2014. JPMorgan Chase signed a one-year agreement on July 6 to help the Trade Bank of Iraq finance imports of goods and services, John Gibbons, managing director and EMEA regional executive for the New York-based bank, said in a July 7 interview.

“Foreign banks entering Iraq are mainly there for trade finance, as companies from their respective countries need financial tools and services to do business in Iraq,” Abdul-Aziz Hassoun, executive director of the League of Private Banks, an Iraqi business group, said by phone on July 17.

“Iraq is a promising market because of the rising oil revenue and infrastructure projects which have helped boost the level of trade finance on an annual basis,” he said.

http://www.bloomberg.com/news/2013-07-18/citigroup-boost-for-iraqi-bond-amplified-by-un-vote-arab-credit.html?cmpid=yhoo

    [millionday] The researcher promised economic Suhad virgins Back Activity various foreign airlines to Iraq as a first step in the way of economic recovery of the country. Athari said in a statement (morning): The re-opening of the office and intensify international airline companies in Iraq would attract foreign investors through the activity of airlines between the countries of the world, in addition to its contribution to strengthening economic relations and stimulate action on air transport.

And stressed the importance of activating flights at airports scattered in the provinces of Iraq, especially Basra and Arbil what these two governorates of privacy in various international exhibitions and promising investment opportunities therein.

Read More Link On Right

  She virgins to the need for attention to the air transport sector because it represents part of the economic aspects of the job, especially that Iraq left the threshold of Chapter VII, making it a polarized country for foreign investment and needs, especially in the field of infrastructure and reconstruction.

    [millionday] fantastic ~~     now remember that under sanctions they could not bring anything in by air — this is obviously huge progress

    [millionday] She explained researcher economic there offices for airlines Arab and international returned to practice its activities again in Baghdad and began its work more than a year by booking on board its flights different destinations, indicating that the number of international airlines which flies from the country amounted to more than twenty Arab airline and universal.

Iraq has recently witnessed a remarkable air activity after a break and isolation from the outside world, as long as more than twenty years. It is hoped to increase the number of aircraft operating in the Iraqi Airways fleet to more than 20 aircraft after enter two to service before the end of the year.

    [millionday] The Companies Registration Department at the Ministry of Commerce announced the registration of a number of international airlines during the last period. The Iraqi Airways is one of the oldest airlines in the Middle East was founded in 1938 and turned into a government institution on January 29 of the year 1946.

    millionday] so as we see — this is great progress and yes it will stimulate the economy in a big hurry

    [ROBINREDHED] hurry is best

    [millionday] oh boy i am excited about the meeting tomorrow  smile

    [millionday] hurry would make me very happy right now  smile   brb with more

    [Godsalli/Jim] If your excited we are excited

    [rollonjohn] I’m excited!!!!!!!!!!!!!!!!!

    [schmidtberger] love to be a fly on the wall at that one……

    [millionday] for those of you that have not seen this

    [millionday] Continuing meetings between political leaders during the month of Ramadan in order to unify positions and ending dilemmas. comes at a time when the price of the deputies of the different blocks the efforts of the Presidency to sign the document of honor between the political parties.

Beyond the current stage: Met Prime Minister Nuri al-Maliki on Tuesday evening, Dr. Ibrahim Jaafari, head of the Iraqi National Alliance in the office of the latter.

    [millionday] During the meeting, according to a statement received “morning,” a copy of it, evaluating the political process, and and ways to push forward to overcome the current stage. also examine the two sides need to events of the developments in the political, economic, especially to improve the ration card items and quantity, and to take practical steps to overcome the problem of processing and distribution, as well as discuss the rehabilitation of infrastructure, and overcome the obstacles to the development of fact Alkhaddmaa of the country.

    [millionday] note — this was from this morning — sorry if you have seen it

    [rollonjohn] We don’t mind.

    [millionday] note — this includes everything as we saw the many years before as they were planning on this

    [millionday] Document of honor within Therefore, Deputy President of the Republic Khodair al that a document of honor will have an important role in rounding and make the political process going right if there is a sincere desire and went real with the political blocs to activate its terms and abide by them. came during a meeting of Vice President Khodair al with the President House of Representatives Osama Najafi, where they discussed the political and security situation and ways to activate the document national honor.

According to a statement of the Office of Alkhozai received “morning,” a copy of it on Wednesday that “the Vice-President, Dr. Khodair al met at his office in Baghdad House Speaker Osama Najafi and the delegation accompanying him.”

    [millionday] He Alkhozai during the meeting that “the Presidency of the Republic lays the foundation for a lasting partnership between the political parties through the creation of suitable climates where magnates policy continues in a positive and flexible to find solutions to all problems experienced by the political process.

” He Alkhozai that “stressful events and political developments have made ​​the political mentality in Iraq mature significantly through the adoption of meaningful dialogue and construction, which seeks to achieve a lasting partnership short-lived to serve future generations and maintain the social fabric of Iraq.”

    [millionday] He explained that the “document of honor will have an important role in bringing together and make the political process going right if there is a sincere desire and went real with the political blocs to activate its terms and adhered to. ” to resolve the crisis of his part, Najafi and his accompanying delegation expressed their thanks and gratitude to the Vice President of the Republic of efforts and also expressed their desire and interest in activating this document because it represents a solution safest out of the current political crisis. noteworthy that Vice President Khodair al-launched earlier in the document of honor for the maintenance of national unity and

    [millionday] the protection of the national fabric and do not allow anyone to find religious discrimination, national or confessional and the adoption of the principle of dialogue way alone to address the problems and the contract that Taatari march of the political process in the country.

    [millionday] nice

    [millionday] peaceful coexistence and across the parliamentarians welcomed the moves aimed at the convergence of views between the various political forces, in preparation for the approval of the terms of that document, which indicated its goals according to a statement issued by the Office of the Deputy Prime Minister and received “morning,” a copy of which was that it represented “a national project to ensure peaceful coexistence among all components of the Iraqi people and establish a national partnership through a commitment to the Constitution and the law and the adoption of dialogue way alone to resolve the differences that accompany the political scene.

    [millionday] this just keeps getting better and better

    [ROBINREDHED] agree

    [millionday] The statement said, quoting Alkhozai as saying that “the presidency continuous Belkaadtha and dialogues with partners in the political process of maturation of this project is to be results useful and productive contribute to creating a new atmosphere in the management of the political process in the country.

” MP for the rule of law Mohammed Chihod expressed support for the I went to him terms of the agreement, revealing the presence of movements between the various political blocs, which announced its support for the project, which will hopefully bear fruit in the coming days of the holy month for holding an expanded meeting will lead to the signing of the document.

    [millionday] bearing fruit is always good  [millionday] smile

    [millionday] Chihod in an interview for “Center Brief for the Iraqi Media Network,” to the importance of these moves, especially since the current phase experienced by the region makes it imperative for all political blocs to sit down and work to strengthen the National Front Interior to face various crises, noting that the only way the blocks is a “dialogue”, which proved successful in the management of crises between the center and the region recently, and resulted in substantial convergence of views between the parties.

    [millionday] He said the initiative undertaken by the Alkhozai obtained the approval of an initial of all political blocs, who saw the need for the signing of the Charter of the honor, which confirmed at the same time the importance that lead these meetings, unilateral and bilateral meeting brings together the various blocs to sign a document containing a charter However, it is preserving the unity of Iraq and the sanctity of the blood of his sons, and solve problems through dialogue and under the umbrella of the Constitution

    [millionday] wow that is great — and this is really showing great progress

    [millionday] Chihod surprise at the attitudes of some leaders who do not want the birth of a draft document of honor, stressing parking points of international, regional and behind this trend, seek with all their ability to block the holding of this meeting, and hoped that there would be a strong will and honest by all parties to hold a national meeting and the signing of the Charter, which put the vice president. was Vice President Khodair al presented a document on the initiative of the national reform includes 13 points were accepted by the Presidency Council, and called for meetings with the leaders actors to discuss this initiative, noting that one of the clauses alleviating media discourse and sectarian and show some kind of flexibility in relation to the subject of the security ministries

    [monique13] what is the charter?

    [millionday] document   [millionday] smile

    [millionday] For his part, MP for the Kurdistan Alliance Qasim Mchkta the existence of a political movement to end the stalemate in the Iraqi situation, which lasted more than a year, indicating that this movement yielded visit by a delegation from the Kurdistan Regional Government to Baghdad recently, and the signing of an important agreement with the federal government in late April, as well as the exchange of visits between the heads of the federal government and the province.

    [millionday] last part and this whole thing could not be more positive

    [millionday] said Mchkta told the “Center Brief for the Iraqi Media Network,” that the country live calm and anticipation, noting that this calm if support to implement some of the points contained in the agreement last April between the provincial government and the federal government, it will strengthen the situation, and works on the transition to solve problems, “stressing that everyone expressed their optimism about the current situation, especially since bad experience that passed the country formerly affected everyone not benefited from any Party.

    [millionday] very nice and shows for once they are now deciding to work together and are becoming a gov that includes the needs of them all — wonderful timing too    [millionday] brb with more

    millionday] The general director of contracts and licenses oil in the Ministry of Oil Abdul Mahdi al-Amidi (of the Agency news) on Wednesday that the ministry will soon negotiations with BP Oil UK on the plan submitted by the company to reduce the production and development of the Rumaila oilfield in Basra province, as well as determine the rates of its production .

    [millionday] BP    [millionday] has joined the rank of those in line

    [millionday] so that is the news for tonight — not alot but all of it matters very much   we are very excited to see what the meeting brings and will be here tomorrow of course to watch to see what is happening

    [LBnFL] BTW – just posted…House of Reps are meeting tomorrow after all. http://translate.googleu ··· KlAubOAg

    [millionday] the document of honor is fantastic and also the opening of the airlines to bring in the many countries standing in line — sounds like time to move forward so we shall see

    [millionday] yes as we were saying they must be meeting inside lol[millionday] the meeting is for sure going on — they are not off for the heat — however that is hot !!

    [jimplants] That document of honor is pretty close to the nc

    [millionday] jimplants i agree — love the concept — should be in every household and every school and business ect   it sure has all the makings of a calm for the move forward for the country


By Tom Walker, Director, Assaye Risk
COUNTRY OVERVIEW
In line with developments last week violence has intensified in Iraq this week with the resumption of multiple high impact attacks across the country, especially in the southern predominantly Shia provinces around Basra who bore the brunt of the violence toward the latter part of the reporting period.
On the international stage the Syrian conflict also continues to have serious transnational implications as actions by the ISI this week have resulted in them becoming more heavily engaged on numerous operational fronts.
Militants linked to al Qaeda in Syria killed a senior figure in the Western- and Arab-backed Free Syrian army on Thursday, an FSA source said, signaling a widening rift between Islamists and more moderate elements in the armed Syrian opposition.* Kamal Hamami, a member of the Free Syrian Army’s Supreme Military Council, known by his nom de guerre Abu Bassel al-Ladkani, was meeting with members of the Islamic State of Iraq and the Levant in the port city of Latakia when they killed him, Qassem Saadeddine, a Free Syrian Army spokesman, told the international press.
Syrian rebels said on Friday the assassination of one of their top commanders by al Qaeda-linked militants was tantamount to a declaration of war, opening a new front for the Western-backed fighters struggling against President Bashar al-Assad’s forces.
Rivalries have been growing between the FSA and the Islamists, whose smaller but more effective forces control most of the rebel-held parts of northern Syria.* The opening up of another military front on which rebel factions must now combat represents a serious challenge for the rebels in what is an already intense and oft confusing, not to mention draining, battle space.
At this point in time it is difficult to assess quite what the ramifications of these actions will be on Iraq but it is perhaps clear to many that the Shia militias, the Shia dominated government and Sunni moderates could welcome a situation where groups such as the ISI are focused away from domestic insurgency in Iraq and concentrated in an area where their overall influence in the Levant can be eroded at distance.

Source: Iraq-BusinessNews.com.

Post your commentary below.

The return of Iraq’s airspace activity beginning of the recovery of the economy










07/18/2013 12:00 AM

Baghdad – Mostafa Hashemi
promised researcher economic Suhad virgins Back Activity foreign airlines different to Iraq as a step initially in the way of economic recovery of the country.
said Athari told (morning):

The re-opening and intensify Seen offices for the airlines global in Iraq would attracts foreign investors through the activity of airlines between the countries in the world in addition to its contribution in the promotion of economic relations and stimulate action on air transport.

stressed the importance of activating flights at airports scattered in the provinces of Iraq, especially Basra and Arbil what these two provinces of privacy in the exhibitions of various international and promising investment opportunities therein.

indicated virgins to the need to pay attention to the transport sector air because it represents an aspect of the economic aspects of the job, especially that Iraq left the threshold of Chapter VII, making it the country polarized for foreign investment and needs, especially in the field of infrastructure and reconstruction.

explained researcher economic there offices for airlines Arab and global returned to practice its activities again in Baghdad and began its work more than a year by booking on board its flights different destinations, indicating that the number of international airlines which flies from the country amounted to more than twenty Arab airline and universal.

Iraq has recently active air noticeable after interruption and isolation from the outside world, as long as more than twenty years. It is hoped to increase the number of aircraft operating in the fleet of Iraqi Airways to more than 20 aircraft after the entry of two حديثتين service before the end of the year.

was the Registrar of Companies at the Ministry of Commerce announced a record number of airlines the world over the past period.

noted that airline Iraqi Airways is one of the oldest airlines in the Middle East was founded in 1938 and turned into a government institution on January 29 of the year 1946.

http://www.alsabaah.iq/ArticleShow.aspx?ID=50380