The World Bank’s investment arm plans to pump about $800 million into Iraq’s energy and banking industries over the next three years to help boost development in the private sector, a senior official said on Wednesday. Reuters reports that Rashad Kaldany, vice president of the International Finance Corporation, said between $300 million and $500 million […]
RAK Petroleum and DNO International announced today [Thursday] that both companies’ shareholders have now approved the merger and the transaction is on schedule to close in early 2012. RAK Petroleum shareholders voted overwhelmingly in favour of the merger at a specially convened meeting in Ras Al Khaimah, UAE, after DNO shareholders voted in favour with […]
Bloomberg reports that the United Transformers Electric Company of Saudi Arabia, and the Turkish unit of Siemens AG, have signed contracts to supply transformers to Iraq. United Transformers (UTEC) will provide 1,250 units with a total capacity of 400 kilovolts for $11.6 million, while Siemens Turkey will provide another 1,250 with a total capacity of […]
Aberdeen companies looking to the Iraq energy sector for business opportunities are invited to sign up for a free seminar hosted by the City Council. The Opportunity Iraq Seminar on Thursday, 17 November will be hosted by the council's International Trade and Investment team and will be led by Iraq market experts, Upper Quartile. Speakers […]
The British Iraqi Friendship Society are celebrating their third annual Gala Dinner and charity auction on Thursday 24th November. The dinner is to be held in the Palace Suite at The Royal Garden Hotel. The event will commence from 7:00 for 7:30pm. Cost per head will be £120 inc VAT. Tables of 10-12 are available. […]
The Middle East Association, supported by the National Investment Commission of Iraq, UK Trade & Investment and Allurentis, is pleased to announce the 2011 Iraq Trade and Investment Conference, “Iraq: Untapped Opportunities”. This event is kindly sponsored by Parsons Brinckerhoff, Shell and Mott MacDonald, and will take place at London’s Dorchester Hotel on 22nd November. […]
U.S. troops have begun the first wave of their final withdrawal from Iraq, and are on schedule for a complete pull-out by the end of the year. It marks the end of a long military engagement in Iraq, at one time involving 176,000 military personnel in the country. They leave behind them a very different […]
In the ongoing conflict between the Kurdistan Regional Government (KRG) and the federal government in Baghdad over the proposed new oil and gas law, both sides agreed to adopt the draft law that had been presented in February, reports AKnews, citing Ghadhban Fadel, head of the advisers committee in the federal government. The announcement is […]
The Iraqi government has decided to allocate $21 billion USD (25 trillion IQD) to implement the Rashid Housing project. AKnews reports that the preliminary negotiations with the UAE-based contractor, Maabar, are completed, and the final contract will be signed by the end of 2011. Rashid Barracks in Baghdad were used by the former Iraqi army […]
The Iraqi cabinet has approved the establishment of five industrial cities in various Iraqi provinces, with the intention of strengthening local industry and reducing the need for imports. Iraqi government adviser Salam al-Quraishi told Mawtani: ''The government has agreed to the proposal in view of its vital importance for Iraq, from an industrial point of […]
In the past few months, major steps have been taken by Khudairi Group to expand opportunities that will help successfully reconstruct critical Iraqi infrastructure. On July 22, 2011, the Khudairi Group entered a dealership agreement and sales contract with Sany International Development Limited. Sany is a global leader in the construction machinery industry, with vast […]
Heavy fighting in Falluja, poor planning, unrealistic cost estimates, and inadequate funding led to significant cost-overruns and delays in constructing the city’s new wastewater treatment system, according to a new report from the Special Inspector General for Iraq Reconstruction (SIGIR). After seven years and the expenditure of over $100 million dollars, the backbone of a […]
