Despite the well-known challenges facing the country, Iraq's business is on a steep upward trend. Foreign investment, for example, increased by almost 50% last year, and there are no indications that money will not continue to flow into the country. In the past week alone, we've reported on a Korean company signing a deal for […]
Overview Levels of violence rose considerably in Iraq last week, making it the worst week so far this year. A spate of bombings in Baghdad, Mosul and Kirkuk left dozens of people dead and injured. The police and military suffered the majority of attacks, but Iraqi oil workers, US soldiers and even three European civilian […]
Iraq is not just a nodding donkey. The country's progress can be seen not just in its growing population of oil wells, nor even merely in its breeding building sites. It can also be admired in its rapid expansion in education. Najaf, a city of around 600,000 people south of Baghdad, is to build 15 […]
Czech prime minister Petr Nečas brought a large delegation of businessmen, as well as the minister of defense and the minister of trade and industry, with him to Iraq this week, according to Aswat Al-Iraq. Revealing his commitment and belief in the economic benefits of a good relationship with Iraq, the Czech premier announced that his country […]
The Middle East Association has this message for UK businesses looking for growth opportunities: Dear Members and Friends, The MEA, in partnership with UK Trade & Investment, Invest Northern Ireland and the Kurdistan Regional Government, will be leading a Trade Delegation to Iraqi Kurdistan from 23rd to 28th October to coincide with the seventh Erbil […]
Last August, the government announced it was making available a total of US$ 300 mn to renovate six Baghdad hotels in preparation for the Arab League Summit. The six—the ISX-listed Palestine (HPAL), Babylon (HBAY), Baghdad (HBAG), Mansour (HMAN), and Ishtar Sheraton (HISH) hotels, and the unlisted Rashid Hotel—were to receive 75% of the new funding […]
By Tariq Abdell, Iraq’s political risk analyst, Founder & CEO of Mesopotamia Insight. The opinions expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News. The recent upsurge in violence across Iraq ( sticky bombs, car bombs, roadside bombs, targeted assassinations, suicide bombers, prison breaks, etc...) underscores, irrefutably, […]
Just this week, we have seen a United Arab Emirates firm invest in a new Iraqi oil refinery, a German company discussing investing in Basram, and a Korean company building 25 power stations. On top of that, there have been Iranian gas deals amd Saudi Arabian interest in Iraqi telecoms, plus both British and Turkish […]
As widely reported, anticipation is building around the current preparation by the Iraqi Government for the auction of oil and gas exploration in January 2012. The auction will tender 12 exploration blocs covering 31,500 square miles and will be awarded to international companies interested in investing in the region. With Iraq seeking increasing support from […]
The 'Investment in Iraq' Summit recently concluded in Dubai and organized by Range Hospitality highlighted that Iraq has some of the most favorable foreign investment laws in the Middle East, making Iraq one of its most lucrative markets. The summit witnessed keen participation from over 100 decision makers, entrepreneurs and investors representing diverse business backgrounds. […]
The three-day Conference on the Economic Future of Iraq began on Tuesday with representation from the World Bank and the Iraqi parliament. Parliament Speaker Usama al-Nujaifi said that "Iraq has turned into the world's garbage dump through bad commodities that were imported, a matter would have not existed were it not for legislative shortcomings." Yet […]
Sterling Energy released an update on Tuesday revealing that important test results are imminent. Here is the statement from the Middle East and Africa oil and gas exploration and production company: Kurdistan Operations Update Sterling (AIM: SEY), the independent oil and gas exploration and production company with interests in the Middle East and Africa, provides […]
