Is oil and gas sector now immune from the geopolitical tensions in the Middle East? Yes, but partly. Contrary to the market expectations, the oil prices have not shown volatility in the aftermath of the crisis in Iraq, ongoing conflict in Syria and Libya, rift between Ukraine and Russia and Israeli-Gaza battles. Why are oil…
Cyclical market correction and troubles in Iraq drag GCC equities markets down in the second quarter of 2014. The bourses in the Arabian Gulf countries posted a strong performance in the first quarter of this year, but armed conflict between Iraqi forces and “Islamic State” militants, coupled with speculations on a possible breakaway of the…
Political instability in Iraq is affecting regional markets, but domestic issues have been causing downward pressure, says an analyst. Sherif Salem, Portfolio Manager at Invest AD’s Iraq Opportunity Fund, says: “There aren’t many factors pushing regional markets up at the moment and so events in Iraq aren’t helping.” Although Iraq is facing threats from ISIS,…
The rise of extremist ISIS in Iraq has not only resulted in loss of lives and property, but has also affected the flow of goods. After Iran, UAE is the largest trade partner of Iraq in the region, but supply chains have broken in the past few weeks, especially trading though road transport. Though UAE…
Iraqi economic recovery, until as recently as last June hailed as on-track and rapid, has come under a permanent cloud as serious sectarian violence at a rate not seen since 2008 fastens its grip. Already the violence has claimed more than 3,500 lives so far this year. The parliamentary elections held on April 30, in…
Oil-rich and violence-hit Iraq stands at an extremely momentous juncture in its democratic avatar. The outcome of the current election process will decide the course of the nation, which has seen escalating violence in the past six months. However, the situation in the country has been further complicated over a decision by the Kurdistan Regional…
The UN refugee agency has said the continuing fighting in western Iraq’s Anbar province has forced thousands more people to move to safety. Those affected are in various locations across the province, moving westwards from previously safe locations. “During the last week the number of displaced people in the town of Heet and surrounding areas…
Last year was one of the bloodiest for Iraq under Nouri Al Maliki’s government since 2008, with close to 9,000 people dying in the country owing to attacks carried out by extremist elements. On the economic front, however, there is no looking back because current projects in Iraq amount to more than half-a-trillion dollars, bringing…
Iraq has considerable untapped growth potential and is seen by many as “The next big one”, says Steve Hamilton-Clark, CEO of TNS MENA. one of the world’s largest custom market research organizations. “We found [in our research] that more than 50 per cent of Iraqi consumers feel that the nation is headed in the right…
The UN refugee agency has said it is increasingly concerned about the situation in Iraq, where recent waves of sectarian violence threaten to spark new internal displacement of Iraqis fleeing bombings and other attacks. UNHCR spokesperson Melissa Fleming told journalists in Geneva that since the beginning of the year, “bombings and rising sectarian tensions have…
