Ahli United raises stake in Iraq bank

by **Ponee** Tue Aug 02, 2016 12:01 pm

Ahli United Bank (AUB), Bahrain's largest lender, has raised its stake in Commercial Bank of Iraq to 64.71 percent, according to a stock exchange statement.

AUB purchased a 10 percent stake in Commercial Bank of Iraq, AUB said in a statement on Monday, without elaborating.

A statement from the Iraq Stock Exchange on Thursday said AUB's stake in Commercial Bank of Iraq had reached 64.71 percent after AUB purchased 25 billion additional shares in the bank. It did not mention the price AUB paid for the shares.

Commercial Bank of Iraq's closing share price on Thursday was 0.43 dinars, which would value the 10 percent stake at around 10.75 billion dinars ($9.20 million).

AUB acquired a 49 percent stake in the bank in December 2005, according to AUB's website.

In addition to Iraq, AUB has a presence in Kuwait, Egypt, Libya, Oman and Britain. - Reuters

http://www.tradearabia.com/news/BANK_311328.html

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by **Ponee** Tue Aug 02, 2016 12:02 pm

Ahli United raises stake in Iraq bank Halfaya2

Iraq expects to double Halfaya oilfield output

Iraq expects to double output at the southern Halfaya oilfield, to reach its planned maximum of 400,000 barrels per day (bpd), in 2018, the oil ministry said in a statement on Tuesday.

The government has approved PetroChina's plans to launch the third phase of development at the field that now produces about 200,000 bpd, said the statement, citing Adnan Noshi, head of state-run Maysan Oil Co which oversees oilfields in the namesake province.

Iraq last year boosted production by more than 500,000 bpd, despite spending cuts by companies working at the southern fields and conflict with Islamic State militants.

Iraqi officials and oil analysts expect further growth in the country's exports this year, although at a slower rate than in 2015 when it was the fastest source of Opec supply growth. - Reuters http://www.tradearabia.com/news/OGN_311400.html

Ahli United raises stake in Iraq bank

Ahli United raises stake in Iraq bank

Re: Ahli United raises stake in Iraq bank

Iraq expects to double Halfaya oilfield output