Companies begin to rethink profitability of working in Iraq

[dArKeR]

DPA , WASHINGTON

When the US in December announced the 63 countries eligible for primary contracts in the reconstruction effort in Iraq, the outcry could be heard in Paris, Moscow, Berlin and other capitals that didn't support the US-led invasion and weren't allowed to compete for the lucrative deals.

But since then, the tide has turned, and some companies may very well be glad they weren't tempted to do business in Iraq. With the security situation continuing to be unstable, insurance premiums have skyrocketed and significantly cut into profits.

Almost 40 employees of US-based Halliburton have been killed in Iraq. Three employees of General Electric died recently when a car bomb exploded. In March, four Americans employed by Blackwater USA were killed in an ambush in Fallujah and dragged through the streets amid the cheers of dozens of bystanders.

http://www.taipeitimes.com/News/worldbiz/archives/2004/06/29/2003177037