Court approves Chinese Takeover of Kuwait Energy

Kuwait Energy has announces that the Royal Court of Jersey has approved the acquisition of the company by Gold Cheers Corporation Limited, a wholly-owned subsidiary of United Energy Group Limited (UEG), by means of a scheme of arrangement. The consideration to be paid under the transaction will be US$477,248,630.20 which equates to a per share […]

At least 93 killed in Ferry Sinking in Mosul

By John Lee. A ferry on Tigris River near Mosul sank on Thursday afternoon, leaving at least 93 dead. According to Xinhua, the ferry capsized because of “high water levels” while crossing from the bank of the river to a small tourist island called Um al Rabeein. It cites a civil defense source as saying […]

Iraq – Financing a Modern Economy

IBBC Spring Conference 2019 Iraq – Financing a Modern Economy  10 April, The Mansion House, London The Iraq Britain Business Council (IBBC) invites you to attend its Ninth Annual Conference at the Mansion House on the 10th of April. This year’s conference is organised in partnership with the Central Bank of Iraq and the Iraqi […]

Genel Energy Shares dip following Results

By John Lee. Shares in Genel Energy were trading down four percent on Wednesday morning after the company announced its audited results for the year ended 31 December 2018, in which it wrote down its Miran asset by $424 million. Despite this, Genel says it can now initiate “a material and sustainable dividend policy“, with […]

Iraq gets new Sanctions Waiver to buy Iranian Energy

By John Lee. The Trump administration has reportedly granted Iraq a further 90-day extension to the waiver exempting it from US sanctions on Iran. CNBC quotes a senior State Department official as saying on condition of anonymity: “While this waiver is intended to help Iraq mitigate energy shortages, we continue to discuss our Iran-related sanctions […]

AnadoluJet starts Flights to Erbil

By John Lee. A Turkish airline will start new services from Diyarbakir and Gaziantep to Erbil from 21st March. AnadoluJet, a subsidiary of Turkish Airlines, plans to offer three flights per week to each location. (Source: AnadoluJet)

Iraqi Provinces are “Fertile land for Investment”

By John Lee. The head of Iraq’s National Investment Commission (NIC) has said that the Iraqi provinces are “fertile lands for investment” and have natural and human resources that enable them of making any investment project succeed. Dr Sami al-Araji added that if capital is looking for a secure environment, then Iraq welcomes it under […]

QSC announces New Distribution Partner in Iraq

By John Lee. US-based QSC has announced that GSL Professional will begin distributing QSC Systems and Live Sound portfolios in the GCC (Gulf Cooperation Council) region, including Iraq, beginning 1 July 2019. Ron Marchant, Senior Director Sales Management, QSC EMEASA, said: “As QSC continues to expand the Q-SYS Ecosystem and Live Sound portfolio and focus […]

NIC hosts Workshop on Hotels and Tourism

By John Lee. Iraq’s National Investment Commission (NIC) has hosted a workshop on investing in the tourism sector and hotels business in Iraq. The event was prepared in cooperation with the US Department of Commerce and the US Embassy in Baghdad, and was attended by the heads of the five-star hotels in Baghdad and other […]

US-Iraq Security Partnership: Avoiding the Pitfalls

A U.S.-Iraq Security Partnership: Avoiding the Pitfalls Just Ahead The dust of last year’s final campaign to destroy the Islamic State “caliphate” had hardly settled before talk of expelling U.S. forces began to circulate in Iraq’s newly seated Council of Representatives (COR), according to a report from The Washington Institute for Near East Policy: “This […]

Cause of Mystery Spill At Mosul Lake

By John Lee. A report from Bellingcat claims to have identified the source of a mysterious black sludge in Mosul Dam Lake. Analysis of open source satellite images suggest a combination of oil waste water, caused by either oil dumping or flooding of polluted rivers by the winter rains. Click here to read the full […]

Restoration of 15,000 Homes underway in Mosul

The United Nations Development Programme (UNDP) is rehabilitating 15,000 houses in West Mosul, bringing the total number of houses in its stabilization portfolio to more than 30,000 – the largest of its kind in Iraq. The project in West Mosul covers 29 neighbourhoods that were hardest hit during the fight to liberate the city from […]