Aswat al-Iraq reports that a new investment commission was elected in Karbala on Monday. Nisai'if Jassim, the deputy chairman of Karbala's Provincial Council, told the agency that the previous commission has completed its legal term of three years service, and that five new members joined the commission. He hoped that the new commission will study […]
A business delegation from Bavaria spent a few days looking around Erbil and was very impressed with what they saw: from the security situation to the trade fair locations. Last but not least, they also enjoyed German draft beer in the Middle East, fresh from the tap. Iraq and the state of Iraqi Kurdistan need […]
Iraq's trade ministry has cancelled direct cash purchases of essential food items, such as sugar, wheat and rice, in a move to help prevent corruption, according to a report from Reuters. The change was announced as a 100-day target set by Prime Minister Nuri al-Maliki to improve his fragile coalition government's performance in the face […]
Former British Prime Minister Sir John Major concluded a historic three-day visit to the Kurdistan Region in which he received a warm welcome from officials and the public and praise for the bold decision he took in 1991 that laid the foundations for the progress and achievements in Kurdistan today. During his visit, the former […]
Citigroup and Bank of Baghdad have announced a strategic partnership which offers corporate clients, with major business presence in Iraq, a seamless cash management solution and other relevant banking services. The client offer encompasses account services, domestic and international payments and collections, liquidity management and electronic banking solutions, backed by a comprehensive customer service and […]
Iraq and Jordan have signed a Memorandum of Understanding for a rail line linking the Jordanian Red Sea port of Aqaba with the Iraqi capital of Baghdad, The Jordanian news agency Petra reports that the MoU was signed in Amman on Sunday by Jordanian Transport Minister Muhannad Qudah and his Iraqi counterpart Hadi al Ameri. […]
Best Western International, a leading international hotel chain, has announced its plans to open its first hotel in Erbil. A signing ceremony was held recently with Glenn de Souza, Best Western International’s vice president international operations for Asia & the Middle East, and Halgord Azzo, CEO of Golden Mountains Company, owner of Best Western Premier […]
The potential business opportunities in the reconstruction of Iraq are very significant, especially for the construction industry. In this interview with Phil Blizzard, at MEED's Arabian World Construction Summit, the procedures for conducting business in Iraq are highlighted by Thomas Donovan, Managing Partner, IRAQ Law Alliance, who states that these procedures do vary between the […]
Shares in WesternZagros Resources are up 35% on Tuesday following the company's announcement of an oil discovery in the Jeribe Formation at the Sarqala-1 exploration well in the Kurdistan Region of Iraq. The cpmpany says the Jeribe Formation flowed light, 40 degrees API oil at a stabilized rate of 6,000 barrels per day over the […]
A five-year project for French engineering group Alstom to build an above-ground urban metro line in Baghdad will cost $1.5 billion [1.8 trillion Iraqi dinars] and be funded by the French government and banks, according to Reuters. The planned line will have capacity to carry 30,000 passengers an hour, will have 22 km (13 miles) […]
By Chris Bowers, British Consul General in Erbil. This article was originally published by Rudaw, and is re-published with permission by Iraq Business News. We are approaching the time in the diplomatic calendar when British embassies around the world celebrate the Queen’s Birthday with, what else, but a party. We are no exception in Iraqi […]
The New York Times reports that two American businessmen have been charged with paying army officers more than $1 million in bribes to secure multimillion-dollar contracts to supply the American military and help rebuild Iraq. A federal indictment against the men, George H. Lee, and his son, Justin W. Lee, was unsealed on Friday. Both […]
