The Iraqi National Olympic Committee in conjunction with the National Investment Commission (NIC) has announced investment opportunities in the Al Faluja [Fallujah] Tourism City as follows:- 1. Establish a parking area , 10 coffee shops, theater, festival park, shopping malls; 2. 10 small coffee shops, 25 tourist houses (of two rooms and a hall), Luna […]
Dr Ashti Hawrami is Minister for Energy Resources for the KRG (Kurdistan Regional Government) and will be speaking alongside Foreign Office Minister Alistair Burt and Nadhim Zahawi MP at a fringe meeting on October 5th at the Conservative Party annual conference. Iraq’s Kurds have a great and long-standing respect for Britain. In particular, we remember […]
UNESCO has launched a scientific survey of Iraq’s groundwater in an effort to improve the government's ability to address water scarcity in the country. Iraq is currently facing severe water shortages across most parts of the country, with over 7.6 million Iraqis lacking access to safe drinking water, and an agriculture sector suffering from years […]
Two Iraqi economists criticized the Iraqi investment law for supporting foreign investors and sidelining local businessmen, urging the government to amend the law radically. The law opens all sectors and areas of investment to foreign and Iraqi investors, except for oil and gas extraction and production, and banking and insurance. AKnews reports that according to […]
A source in the outgoing Iraqi government has said that International Monetary Fund (IMF) stressed the need for Iraq change its tax system as a condition for granting loans and supporting projects. A member of the Iraqi negotiating team, Fadel Muhammad Sarraj, told AKnews that "the IMF demanded the Iraqi government formally to restructure the […]
Abu Dhabi's Invest AD has launched an Iraq Investment Fund to channel investment into high-growth companies in a country where improving stability and increased oil production should fuel strong economic expansion in coming years. Invest AD is seeding the fund and is marketing it alongside its other equities and private equity funds that invest in […]
Iraq's crude oil exports rose in September to 2.021 million barrels per day from 1.789 million bpd the previous month, Reuters has reported. Falah al-Amri, the head of Iraq's State Oil Marketing Organisation (SOMO), said average exports from the southern oil hub of Basra reached 1.508 million bpd, while exports from oilfields in the north […]
Iraq has raised the level of the oil reserves it claims to own by 24% in its first revision since the change of regime in 2003. The country has 143.1bn barrels of known and extractible oil, up from the 115bn barrels previously estimated. If correct, the revision means that Iraq now has bigger oil reserves […]
Nouri al-Maliki has made progress in his bid to retain power, having secured the backing of the main Shi'ite parliamentary bloc for his re-nomination for the post of Prime Minister. He notably received support from the self-exiled, hard-line cleric Moqtada al-Sadr, leading to increased concerns amongst the Sunni population. Al-Maliki still requires the support of […]
The General Manager of Turkey’s Genel Enerji, Orhan Duran, said on Thursday that plans to set up a refinery in northern Iraq, shelved due to the global financial crisis, were back on the agenda and planned total investment was $500 million. He also told Reuters in an interview the company was continuing work on building […]
In another sign of normality returning to battle-weary Iraq, the country is renewing its taste for Scotch whisky,according to a report in The Scotsman. David Gates, whisky director for drinks giant Diageo, said sales of the company's whiskies were on the rise after taking a pounding in recent years. Before the 2003 invasion, Iraq had […]
Basra's Governor, Shaltagh Abboud al-Mayah met with the director general of UAE-based firm in recent days to discuss a possible investment in the site of the former prison at Boca [Camp Bucca]. “The discussions were fruitful,” said a statement issued by the local authorities in Basra, and reported by Aswat al-Iraq. The company’s director general […]
