Archive | 11th April 2012

Getting Along With Your Neighbours

Iraq's improved relations with its neighbours have been particularly evident in recent times. Following Prime Minister Nouri al-Maliki's two-day visit to Kuwait in March, Iraq agreed to go ahead with the Iraq-Kuwait Boundary Maintenance Project, and to transfer its share of funds allocated for the completion of this project to the UN. The two governments […]

Najaf Attracts $7 Billion in Foreign Investment

Azzaman reports that the holy city of Najaf has turned into a hub for foreign investments, mainly in areas of housing and tourism, as numbers of foreign pilgrims to the city surge. The head of Najaf Investment Commission, Wafi al-Bahhash, said an estimated $7 billion had been invested, adding that his commission granted new licences […]

Border Crossing Between Iraq and Saudi to be Opened

The commercial attaché at Iraq's embassy in Saudi Arabia, Ali Jaberal- al-Utti, has reportedly announced the start of negotiations between the two sides to open the Ar Ar [Ara'ar, Arar] border crossing between the two countries. The town is situated in the north of Saudi Arabia, the Iraqi city of Karbala, The nearest town to […]

Metito, Snafee Win More Iraq Water Contracts

Metito, the provider of total, intelligent water management solutions in emerging markets, has announced four new projects in Iraq, worth over $185m. Metito is partnering with the Snafee Group, to supply the process design of three sewage treatment plants, in South Basra, Um Qasser, Safwan and Shatt Al Arab, which represent a combined contract total […]

Iraq Has Cash Reserves to Fight Dinar Depreciation

The finance committee in the Iraqi Council of Representatives warned on Wednesday about the deterioration of the Iraqi economy due to the low exchange rate of the dinar to the US dollar, assuring that proposals are underway to get the country back on its feet, reports AKnews. According to AKnews, the Iraqi dinar hit its […]

Iraq Signs MoU with Shell for Huge Petrochemical Plant

Iraq has signed a Memorandum of Understanding in Baghdad with Shell to make a technical and economic feasibility study to set up a major petrochemical plant, reports Aswat al-Iraq. “Iraq has a big vision to cope with the big leaps in the oil sector in the coming few years through the use of the natural […]

Karbala International Passenger Terminal Opens

The Director General of the Private Transport Section of the Ministry of Transport, Mr. Abdullah Laibi, outlined the opening of the new $14 million passenger terminal adjacent to Karbala airport. Designed to ease congestion between Najaf and Karbala, the new 2,000 car parking facility integrates accommodation, restaurant facilities making access to the airport for pilgrims […]

Iraq Takes Delivery of New $14m Ship from China

Iraq's Transportation Ministry sent a crew of five sailors to China to take delivery of a new $14m (16.3bn IQD) ship for the Iraqi fleet. The Iraqi Naval Transportation Company contracted China's ANT to construct the 7,000-ton ship, which will carry goods from China to Iraq and will "reinforce Iraqi marine trade". This brings to […]