Middle-east Arab News Opinion | Asharq Al-awsat

Media ID: 55313811
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In this December 13, 2009 file photo, Iraqi laborers work at the Rumaila oil refinery, near the city of Basra. (AP Photo/Nabil Al-Jurani)

Iraq must end dependence on oil—former planning minister

by Hamza Mustafa | Apr 16, 2014 | Business

Baghdad, Asharq Al-Awsat—Iraq’s economy must diversify to reduce its decades-long reliance on oil as the main contributor to its GDP, said the country’s former planning minister, despite a recent uptick in oil production leading to expectations that OPEC’s...

Media ID: 55307078
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FILE – In this file photo taken in Feb. 3, 2013 – Iraqi stock traders watch the sales screen at the Iraq Stock Exchange in Baghdad, Iraq. Citigroup Inc. is set to become the first American bank to open an office under its own name in Baghdad, highlighting international financial firms’ growing interest in Iraq a decade after the U.S.-led invasion. (AP Photo/ Hadi Mizban, File)

Citigroup to open representative office in Iraq

by Asharq Al-Awsat | Jun 25, 2013 | Business

Dubai, Reuters—Citigroup Inc (C.N) said on Monday it had obtained approval from Iraq’s central bank to open a representative office in that country, becoming one of the first global banks to set up there since the U.S.-led invasion of 2003. The lender said it...