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False Claims made by Black Diamond, Rezhwan The Need for Private Industry Mosul “to Refine Oil in Disputed Areas” HP Considers Iraq Office
 
False Claims made by Black Diamond, Rezhwan

False Claims made by Black Diamond, Rezhwan

By John Lee. Further to the recent press release from Black Diamond, the Kurdistan Regional Government has issued a statement refuting the company’s claims to have a deal to refine crude oil from Genel Energy‘s Taq Taq oil field. Genel Energy has also denied any knowledge of, or dealings with, Black Diamond and Rezhwan. The […]

The Need for Private Industry

The Need for Private Industry

As reported this morning on Iraq Business News, a former Minister for Planning has spoken out about the need to diversify the Iraqi economy away from its current dependence on oil and gas. Mahdi Al-Hafez told Asharq Al-Awsat that Iraq must adopt “a policy of diversifying the economy and developing other productive sectors such as […]

Mosul “to Refine Oil in Disputed Areas”

Mosul “to Refine Oil in Disputed Areas”

By John Lee. An agreement to build an oil refinery has reportedly been signed between Iraq’s Mosul province and the Kurdistan Regional Government (KRG) on Monday. Governor Atheel al-Nujaifi (pictured) said: “This agreement will change Iraq’s image, which is identified with war and incitement to war.” (Source: Turkish Press)

HP Considers Iraq Office

HP Considers Iraq Office

By John Lee. Hewlett-Packard (HP) sees big future opportunities in Iran and Iraq. Mathew Thomas, general manager for printing and personal systems at HP Middle East, told GulfNews: “We are waiting for the green signal from the World Trade Organisation and HP worldwide to give us the direction of when … As of now, we […]

IDB Contributes $217m for Major Trade Corridor

IDB Contributes $217m for Major Trade Corridor

14 April 2014

Iraq’s Finance Minister, HE Dr. Safauddin Mohammed Al Safi, and the Acting President of the Islamic Development Bank (IDB), Dr. Abdul Aziz Al Hinai (pictured), have signed an agreement for $217 million to fund the construction of Expressway No. 1, a major trade-corridor connecting Iraq to its...

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Posted in Construction & Engineering, Transportation0 Comments

Iraq Stock Market Report

Iraq Stock Market Report

14 April 2014

Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th April 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,823 (+0.1%)/ $1,943 (+0.1%) (weekly change). The...

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Posted in Investment0 Comments

UN Reaffirms Support in Fight Against Corruption

UN Reaffirms Support in Fight Against Corruption

14 April 2014

The Special Representative of the United Nations Secretary-General (SRSG) Mr. Nickolay Mladenov (pictured) has reaffirmed UN support to Iraq in its fight against corruption. This came at the opening session of the Baghdad Second International Forum on Stolen Assets Recovery, which was organized...

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Posted in Industry & Trade, Security0 Comments

Govt Submits Controversial Emergency Powers Bill

Govt Submits Controversial Emergency Powers Bill

14 April 2014

By Mushreq Abbas for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. On April 4, the Iraqi Council of Ministers endorsed the “national safety” bill, which regulates the state of emergency and defines the prime...

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Posted in Politics, Security0 Comments

Bulgaria Strengthens Links with Kurdistan

Bulgaria Strengthens Links with Kurdistan

14 April 2014

The Bulgarian Deputy Minister of Economy and Energy, Krassin Dimitrov, visited the KRG Department of Foreign Relations today to brief officials about his visit to Kurdistan. He is leading a delegation comprised of officials from both the public and private sectors visiting Kurdistan. The Iraqi...

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Posted in Industry & Trade0 Comments

Old Phones, Computers Threaten Public Health

Old Phones, Computers Threaten Public Health

12 April 2014

This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. E-Waste Comes to Karbala: Old Phones and Computers Threaten Public Health In the relatively prosperous city of Karbala, locals are used...

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Posted in Healthcare, Telecoms/Comms0 Comments

ICTSI to Invest $130m in Port Deal

ICTSI to Invest $130m in Port Deal

11 April 2014

By John Lee. The Philippines-based International Container Terminal Services Inc (ICTSI) said on Thursday that it signed a contract with General Company for Ports of Iraq, agreeing to operate, develop and expand the Port of Umm Qasr. In a stock exchange filing, the company said the contract...

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Posted in Construction & Engineering, Transportation0 Comments

Iraq to End Thai Rice Ban

Iraq to End Thai Rice Ban

11 April 2014

By John Lee. Iraq has lifted a ban on the importation of rice from Thailand. The ban was imposed on private exporters in August due to quality concerns, but the Thai government has continuously defended the quality of its rice. The Iraqi government had already stopped purchasing rice directly...

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Posted in Agriculture1 Comment

ADIB Plans Iraq Expansion

ADIB Plans Iraq Expansion

11 April 2014

By John Lee. The Abu Dhabi Islamic Bank (ADIB) is the latest bank to expand business in Iraq, according to a report from The National. Currently the only UAE lender to operate in Iraq, ADIB plans to open a branch in Basra before the end of the year after it opened a branch in Erbil in October....

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Posted in Banking & Finance0 Comments

$46bn-Worth of Projects Boosts Kurdistan Region

$46bn-Worth of Projects Boosts Kurdistan Region

11 April 2014

MEED’s Kurdistan Projects conference 2014 shows why the region, long seen as a platform for doing business elsewhere in Iraq, has now become a hotspot for investments. The Kurdistan Region of Iraq has long been considered as a business friendly environment for foreign companies and a gateway...

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Posted in Construction & Engineering0 Comments

French Firm to build mini Eiffel Tower

French Firm to build mini Eiffel Tower

11 April 2014

By John Lee. A French company is planning to build a replica of the Eiffel Tower in Sulaymaniyah. But according to reports from Zawya, the structure will be a mere three storeys high. The project will include shops selling French products, and will feature laser lights showing the flags of...

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Posted in Construction & Engineering, Leisure and Tourism0 Comments

Technip Wins FEED Contract at Rumaila

Technip Wins FEED Contract at Rumaila

10 April 2014

Technip, in partnership with China HuanQiu Contracting & Engineering Corporation (HQC), has been awarded a front-end engineering design (FEED) contract for the Ar Ratawi Natural Gas Liquids (NGL) train1 project at North Rumaila in Basra. The deal was awarded by the Basra Gas Company (BGC), a...

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Posted in Construction & Engineering, Oil & Gas0 Comments

LUKOIL begins Seismic Survey at Block 10

LUKOIL begins Seismic Survey at Block 10

10 April 2014

LUKOIL has started a 2D seismic survey at Block 10 in the south of Iraq. 2000 linear kilometers of seismic surveys will be completed by the BGP Inc. geophysical company within 16 months. The Mandatory Geologic Exploration Program at Block 10 is scheduled to take five years with a potential...

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Posted in Construction & Engineering0 Comments

Luaibi sees Kurd Oil Export Deal Soon

Luaibi sees Kurd Oil Export Deal Soon

10 April 2014

By John Lee. Iraqi oil minister Abdul Kareem al-Luaibi [Elaibi] (pictured) has said that parliament set up a high-level delegation several days ago to resolve the oil export dispute between Baghdad and Erbil, and he expects a deal to be reached within days. According to Reuters, Ankara is...

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Posted in Oil & Gas1 Comment

Iraq Renews Podesta’s $1m PR Contract

Iraq Renews Podesta’s $1m PR Contract

10 April 2014

By John Lee. The Government of Iraq has reportedly renewed its one-year $960,000 PR contract with Podesta Group to "promote a better understanding with the US of its priorities and concerns". The work, which runs through 2014, is designed to “further the purposes of the Strategic Framework...

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Posted in Industry & Trade, Politics, Telecoms/Comms0 Comments

An Eventful Week in Iraqi Business

An Eventful Week in Iraqi Business

10 April 2014

It is surely significant for global oil supplies that within the past two weeks, two of the largest Iraqi oil fields have started production: Lukoil commenced pumping at West Qurna 2 at the end of March, while Shell exported its first crude from Majnoon this week. As a result, oil production is...

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Posted in Blog0 Comments

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