Tag Archives | Kuwait

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

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 […]

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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 […]

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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 […]

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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 […]

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Iraq Plans to take over Mansuriyah Gas Field

By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] (pictured) as ordered Iraq’s state-owned oil companies to devise an urgent plan to develop the Mansuriyah (Mansouriya) gas field, following what he described as the delay and the failure of foreign companies to start developing the field. The field, in Diyala province, was awarded in […]

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Video: Why Oil-Rich Iraq Needed Kuwait Energy Deal

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Many ask why oil-rich Iraq needed to make Kuwait energy deal Iraq’s government has signed a deal with Kuwait in a bid to alleviate its energy crisis after the lack of kerosene and […]

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Kuwait donates Generators to Iraq

Kuwait has donated 17 mobile electric generators with a total capacity of 30,000 kilowatts to Iraq, the Undersecretary of the Kuwaiti Ministry of Electricity and Water, Mohammed Bushehri has announced. In a press statement, Bushehri said the donation came “to alleviate the electricity crisis in the Iraqi city of Basra”. “In the light of the […]

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Kuwait Fund lends $80m for Iraqi Schools

A Loan Agreement has been signed in Kuwait between the Republic of Iraq and Kuwait Fund for Arab Economic Development (KFAED) whereby the Fund will extend a loan of Kuwaiti Dinars twenty three million five hundred thousand (KD. 23,500,000/-), equivalent to about US$ 80 million, to contribute in financing of Building Modern Schools in Baghdad […]

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Kuwaiti Investor plans $58m Project in Basra

By John Lee. A Kuwaiti businessman is reportedly planning to grow 100,000 date palms and build a nature reserve complete with ostriches and deer in southern Badia, 150 km from the city of Basra. According to Reuters, Abdul-Aziz al-Babtain is investing $58 million in the project, which will see the palms grown over the next […]

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Kuwait Energy may sell Block 9

By John Lee. Kuwait Energy has reportedly hired an investment bank to advise it on options that could include selling all or part of its Block 9 field in southern Iraq. Reuters says that Perella Weinberg Partners (PWP) will assist in creating liquidity and a cash buffer to repay debt. Discussions on a possible merger […]

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