Archive | 26th June 2011

Eni Confirms Probe into Alleged Bribes

The Italian oil company Eni, and its Saipem subsidiary, said in a statement Wednesday that they are the injured parties in an investigation into alleged bribes related to contracts in Kuwait and Iraq. BusinessWeek says Milan prosecutors are investigating whether executives took bribes from Italian engineering and construction firms for subcontracts in Iraq's Zubair oil […]

Alshaya Brings Mothercare to Iraq

Arabian News reports that Kuwait’s MH Alshaya Co, the Gulf franchise holder for H&M, Starbucks and TopShop, plans to debut the mother and baby equipment chain Mothercare in Erbil later this year, in a bid to tap into the country’s 30 million-strong population. This will be the Alaysha's first retail outlet in country. “We believe […]

Inflation Rate to Reach 7% in June

Iraq's Central Bank expects the inflation rate to reach 7% in June, and pointed out that the increase of oil prices is one of the main reasons of inflation in the country. Central Bank advisor Mazhar Mohammad Saleh told Al Sumaria TV that production of goods is weak in comparison to the services sector, which […]