Tag Archives | Kuwait

The latest news on Iraq – Kuwait business – investment, Disputes and more – brought to you by Iraq Business News

Cabinet approves Draft Law on Public-Private Partnership

The Cabinet held its regular weekly meeting in Baghdad on Tuesday under the chairmanship of Prime Minister Mr. Adil Abd Al-Mahdi. It approved: the recommendation of the Ministerial Energy Council on the service contract for Al-Mansuriyah oil field in Diyala province; a draft law on public-private partnership to strengthen cooperation between government agencies and the […]

UNCC Pays $270m to Kuwait

On Tuesday, the United Nations Compensation Commission (UNCC) made available $270 million to the Governmentof the State of Kuwait towards the Commission’s remaining claim with an outstanding award balance. The United Nations Compensation Commission was established in 1991 in accordance with Security Council resolutions 687 (1991) and 692 (1991) to process claims and pay compensation […]

UN Security Council makes First-ever Visit to Iraq

Five years on from ISIL ‘caliphate’ proclamation in Iraq, Security Council makes first-ever visit The UN Security Council has concluded a first-ever visit to Iraq on Saturday, five years on from the proclamation, by the ISIL terrorist group, of a “caliphate” in the country. The visit, which also took in a trip to Kuwait, saw […]

Kuwaiti Company granted Iraqi Telecom Licence

By John Lee. Kuwait’s Qualitynet is reported to have been granted a licence to provide internet, telecommunications and satellite services in Iraq. According to CommsMEA, the move makes it the first Kuwaiti telecommunications service provider to win a service licence in the country. Said Qualitynet CEO Mohammed Nizar Al-Nusif is quoted as saying: “Winning this […]

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 […]

Kuwait-Iraq Free Zone Plan

By John Lee. Kuwait is reportedly planning to build towns close to the Iraqi border, and talking with Iraqi authorities to develop a “free zone” between the two countries. According to Kuna, First Deputy Prime Minister and Minister of Defence Sheikh Nasser Sabah Al Ahmad Al Sabah (pictured) said the plan was currently “the preoccupation […]

Prison for Bribery in Iraq War Contracts

A former business partner of a U.S. military contractor was sentenced today to 18 months in prison for his role in a years-long scheme to bribe U.S. Army contracting officials stationed at a U.S. military base in Kuwait during the Iraq War. Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division, Special […]

UNAMI Welcomes Repatriation of Kuwaiti Property

The United Nations Assistance Mission for Iraq (UNAMI) warmly welcomes the repatriation of a consignment of located Kuwaiti property to the Kuwaiti authorities in a handover that took place in Kuwait City today and was observed by the United Nations. “This is an encouraging positive step taken by the Iraqi authorities in compliance with UN […]

Talks continuing on Iraq-Kuwait Electricity Link

By John Lee. Talks are reportedly continuing to complete the electricity linkage between Iraq and Kuwait. KUNA quotes Kuwait’s Oil Minister and Minister of Electricity and Water Engineer, Bakheet Al-Rashidi (pictured), as saying: “We expect that these negotiations will ultimately lead to linking Iraq’s electricity grid with the Gulf network and then link with Turkey […]