Category Archives: Economy

Why does Barzani oppose modern banking for Kurdistan?

Michael Rubin

By Michael Rubin: With the specter of Saddam removed, Iraqi Kurdistan has boomed. The Kurdistan Regional Government (KRG) has worked hard to attract foreign investment in the oil industry, hotel, and construction sectors. Erbil and Sulaymani are becoming the first cities in Iraq with real skylines. Scratch the surface, though, and the patina of progress…

Rapid urbanisation in Erbil and Suli has led to lower living standards

By Mufid Abdulla: The cities of the south of Kurdistan are growing at a rapid pace, especially following the defeat of the old regime in 2003 and the emergence of a new era for Iraq without Saddam. The south of Kurdistan has become an emerging marketplace for business and this has attracted to its cities…

Retirement plan: universal pensions the key to Iraqi economic woes?

Shwan Zulal

By Shwan Zulal: This article first appeared on Niqash How will I support myself in my old age? People ask this question all around the world. One Kurdish writer argues that a universal pension scheme could be a catalyst for a more dynamic private sector and economic growth in Iraq. No matter where they live,…

Young worker killed in Sulaymani – another ‘health and safety casualty’

News and Comment by KT: A 32 year old plasterer was killed today after falling from the fourth floor in the Goyja Project in the north of Sulaymani. The young worker, whose name has not yet been released, came from Dyarbakir in Turkey/North Kurdistan and his body is being returned there. He was hired by…

Why aren’t managers in Kurdistan more successful?

By Nabaz Shwany: Managers run organizations. There are some skills and behaviors that they should possess in order to be successful. When managers lack these basic skills, they cannot accomplish their objectives. In Kurdistan, managers confront many difficulties and obstacles to their organizational goals. Although some say managers in Kurdistan are on the right track, in…

Kurdistan opposition boycotts budget vote

News and Comment by KT: The Kurdistan Region’s 2012 budget was passed by parliament this weekend. This followed a strong campaign by opposition parties who boycotted the vote in protest against the budget papers’ many irregularities and unjustifiable expenses for officials. The opposition went on strike from parliament on Friday and Saturday, against a background of…

PUK blames Gorran for obstructing the KRG budget‏

News and Comment by The Kurdistan Tribune: For the last two months, Iraq’s turmoil has developed into deadlock. Talabani has told reporters that he has not received enough signatures to withdraw confidence from the Maliki government. He has also indirectly told Kurdistan president Barzani that, as president of Iraq, he must stay neutral and cannot…

KRG’s economic crisis – who will save them?

News and Comment by the Kurdistan Tribune: The economic and political instability in the Kurdistan Region has driven prime minister Nechirvan Barzani and other ministers to make several visits to Turkey over the past two weeks.  As the battle of nerves between Baghdad and Erbil continues, business morale has plummeted in the south of Kurdistan….

Rapid growth in 2012 forecast for the south of Kurdistan

By Mufid Abdulla: In parts of the world, economies seem to be melting away, while in others – especially the emerging markets – economies are doing fantastically well. The south of Kurdistan saw a 60% economic expansion between 2005 and 2010. This compares to a mere 5-10% growth for many developed economies over the same…

Iran crisis: High oil prices can plague the global economy

Oil

By Rauf Naqishbendi:  Due to the global economic slowdown, the demand for oil has been dwindling, resulting in an over-supply of oil. The supply-and-demand economic fundamental is seemingly imbalanced as the oil supply exceeds demand, and yet oil prices are on the rise. Conspicuously, this shows how geo-political events can override economic principles: in this…

Cash only: Why the messy banking sector endangers Iraqi development

Shwan Zulal

By Shwan Zulal: This article first appeared on Niqash Iraq could be one of the richest countries in the world. Yet over three quarters of Iraqis do not have bank accounts. So where do they keep that wealth? And can the Iraqi banking system be dragged into the 21st century? Bookmark on Delicious Recommend on…

2011 – a tumultuous year: from the sublime to the tragic

By Harem Karem: 2011 was an eventful year – from the sublime to the tragic. A year that has influenced global history and will most certainly be remembered for decades to come. Arab Spring: The self-immolation of Mohamed Bouazizi in Tunisia inadvertently started a revolution that has already led to the ousting of several dictators,…

Why has the PUK in Sulaymani blocked the Reber Quick internet provider?

News and Comment by The Kurdistan Tribune: For the  past 13 days, by order of the governor of Sulaymani, Reber Quick – the biggest internet provider in the region, which is owned by Newroz Telecom Ltd – has been blocked from providing services on the pretext that it has no license. Bookmark on Delicious Recommend…

Property boom: A burst housing bubble could leave Kurdish region in tears

Shwan Zulal

By Shwan Zulal: This article first appeared on Niqash In Iraqi Kurdistan, locals are enjoying a property boom. As demand outstrips supply, buying off-the-plan is more popular. But if this housing bubble bursts, the region could face severe economic and political consequences. In the semi-autonomous state of Iraqi Kurdistan, an area that is generally more…