Tag Archive | "Erbil"

The latest business news from Erbil, Kurdistan, Iraq – banking, airlines, hotels, property and more – brought to you by Iraq Business News

Economic Prospects for Erbil Look Bright

By Patrick M Schmidt.

While the security situation in some parts of Iraq remains in flux, the north region of Kurdistan continues to attract foreign businesses as a promising location for investment.

With a 12 percent growth in Gross Domestic Product (GDP) in 2012 and another 8 percent growth of GDP in 2013, Kurdistan’s economic figures look strong.

While some challenges do exist in terms of construction and the financial sector, Kurdistan has plenty of available labor with a high percentage of multi-lingual, young workers.

In addition, the rapid economic growth presents a multitude of opportunities for foreign companies to enter the market and assist with critical infrastructure projects.

Currently a number of European expatriates are working to expand their own businesses and reveal the lucrative investment opportunities to those who may initially be scared to enter the market.

(Source: Rudaw)

Posted in Industry & TradeComments (0)

TruckZone Appointed Distributor for Renault Trucks

By John Lee.

TruckZone General Trading has been appointed sole distributor for Renault trucks in Iraqi Kurdistan.

The company, a division of CarZone Trading Agencies, is currently also the agent for Nissan throughout Iraq. From its base in Erbil it will have full facilities to handle sales, servicing and parts for the full range of Renault trucks.

Pictured at the signing event on Sunday are:

  • Mr Abdulhamid Al-Hardan, Lawyer from Baghdad
  • Dr Mohsen Raslan, General Manager, TruckZone / CarZone
  • Mr Salar Hasan
  • Mr Lars-Erik Forsbergh, Vice President Middle East Market, Renault Trucks
  • Mr Shamal Aziz, Executive Director, TruckZone/CarZone
  • Mr Bernard Amiel, Business Team Director Iraq, Renault Trucks
  • Mr Hamid Kazemi, Retail Development Director Middle East, Renault Trucks
  • Mr Hannes Nortmann, Assistant General Manager, CarZone / TruckZone
  • Mr Leon Redgard, Sales & Lease Manager, CarZone / TruckZone

Carzone is part of the Sardar Group.

(Source: CarZone)

Posted in Industry & Trade, TransportationComments (0)

Iraq Blocks Kurdistan Flights

By John Lee.

Cargo flights to and from Erbil and Sulaimanya [Slemani] have reportedly been suspended.

A spokesman for Emirates SkyCargo told Lloyd’s Loading List that the airline’s freighter flights to and from Erbil “have been temporarily suspended at the request of the Iraqi Civil Aviation Authority. However, Emirates [passenger] flights are operating as per schedule to Baghdad, Erbil and Basra.”

In a move that is thought to be in retaliation against the KRG’s push for independence, Iraq’s Civil Aviation Authority (CAA) has informed airlines that all freight flights to Erbil and Sulaimanya have been cancelled until further notice.

(Source: Lloyd’s Loading List)

Posted in Industry & Trade, TransportationComments (0)

SI Retail Opens First Auchan Store in Erbil

On Wednesday, June 25th 2014, the first hypermarket under the French Auchan banner was opened in the Kurdistan Region of Iraq.

This 6,000 sqm store is part of a 106-shop mall, located near the center or Erbil [Hewlêr].

The opening of this store is based on a franchise agreement between the Auchan Group and SI Retail, one of the top retailers in the region.

SI Retail will provide to this partnership its familiarity with local market and consumers and its employee expertise. In addition to its brand, the Auchan Group will provide its know-how for the development of an attractive commercial offer.

The partnership will open another 10,000 sqm hypermarket in the coming months in Erbil’s airport district.

(Sources: SI Retail)

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Nawzad Hadi Elected as Erbil Governor

By John Lee.

At the first session of the new Erbil Governorate Council this week, Mr. Nawzad Hadi was elected as the Governor of Erbil, with Ali Rashid as head of the governorate council, and Azad Ikram Bahram as deputy head.

(Source: Erbil Governorate)

Posted in PoliticsComments (0)

Erbil Citadel joins UNESCO World Heritage List

UNESCO representative and Iraq Office Director Axel Plathe congratulated Iraq, and in particular the Kurdistan Region for the inscription of the Erbil Citadel on UNESCO’s World Heritage List, hoping that this step opens new opportunities for the local community, and brings the well-deserved international attention to this historical site.

On behalf of UNESCO I would like to congratulate Iraq and specifically the Kurdistan Region for the inclusion of Erbil Citadel on the World Heritage List” stated Plathe.

The inscription represents an international recognition of the Citadel’s outstanding universal value, and highlights its significance as a testimony to the evolution of the human civilization”, added UNESCO Director.

“UNESCO hopes that this step, with its major cultural and touristic potential, would open new opportunities for the community, and pave the way for additional exemplary conservation measures that would help in safeguarding it for future generations”.

Erbil Citadel is the fourth site from Iraq to be included in the World Heritage List, after Ashour, Hatra, and Samarra Archeological city. Located on top of a 32 meters high artificial mound, Erbil Citadelis believed to comprise archaeological remains representing previous historical periods.

The Citadel is of an elliptical shape, covering slightly more than 10 hectares of urban fabric composed of traditional courtyard houses, built of fired bricks. It also includes several public buildings such as mosques, a traditional public bath, and several historic graves.

Since 2007, several projects aiming at the conservation and revitalization of the Citadel have been initiated by the Kurdistan Regional Government and implemented through the High Commission for the Erbil Citadel Revitalization (HCECR) and UNESCO.

Under the Chair of Her Excellency Sheikha Al Mayassa Bint Hamad Bin Khalifa Al Thani, the World Heritage Committee is meeting in Doha, Qatar from 15 to 25 June to consider the inscription of 36 sites on UNESCO’s World Heritage List nominated by States Parties.

During this meeting, members of the Committee have also examined the state of conservation of more than 100 of the 981 existing World Heritage properties.

(Source: KRG)

Posted in Leisure and TourismComments (0)

US Consul General attends Khudairi Open Day

Khudairi Group (KG) has stepped away from its projects to organize its inaugural Customer Appreciation Day at its Erbil dealership.

Guests enjoyed a reception at John Deere, watched HSE-trained operators demonstrating the finesse of John Deere and SANY heavy machinery, including the 25-ton crane, the 315SK backhoes, and the 444K wheel loaders.

They also viewed SANY’s newest machines, the spare parts unit, and the recently refurbished warehouse, where KG engineers were positioned at each machine to answer visitors’ questions.

KG Staff members from Erbil, Baghdad, Basra, Sulaymaniyah, Dubai and Houston offices were present during the speeches and video, which captured the essence of KG’s dedication to building a better future for Iraq.

Aziz Khudairi, CEO and President of Khudairi Group, observed that focus on the construction industry would help propel Iraq’s future prosperity. Subhi Khudairi, Vice President, inspired confidence through recalling KG’s history and discussing its future endeavors.

ScreenHunter_677 Jun. 19 09.20

US Consul General Joseph Pennington, KG’s honored guest speaker, spoke on the US’s continued support for investment in Iraq and on how Khudairi Group is a prime example of such investment, which allows for the transfer of top US knowledge and technology.

For lunch, KG visitors enjoyed delicious BBQ, as well as a Kurdish and Arabic buffet. Later, raffle tickets were drawn and winners received their prizes; it was truly a day to remember.

(Source: KG)

Posted in Construction & EngineeringComments (1)

Dubai Proposes Twinning with Erbil

Last week the Municipality of Dubai proposed a twinning project with the capital of the Kurdistan Region, Erbil, to foster cooperation on a number of issues, especially regarding the real estate market, e-governance and reducing bureaucracy in government institutions.

The proposal came at a Kurdistan – United Arab Emirates trade forum held in Erbil on 25 May and organized by the Kurdistan Region Board of Investment. The forum focused on real estate development in Erbil and housing in Kurdistan in general.

The forum was attended by a number of senior officials from the Kurdistan Regional Government as well as businessmen and investors from both Kurdistan and the United Arab Emirates.

During the forum UAE Consul General Rashid al-Mansouri said, “The UAE has always been welcome here in Kurdistan and we are working hard to promote the economy and infrastructure of the Region.”

He added that the UAE hopes to consolidate and strengthen its economic relations with Kurdistan and that this type of forum will certainly not be the last. The Consul General envisions many further projects and forums between the two sides.

For his part the Governor of Erbil, Nawzad Hadi, said that Kurdistan and the UAE share a special relationship and that the UAE helps connect Kurdistan to the outside world. He described the forum as a good opportunity to look at the experiences and success of the UAE, and particularly Dubai.

Posted in Construction & Engineering, Industry & TradeComments (0)

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