By John Lee. The US Defense Security Cooperation Agency has notified Congress of a possible Foreign Military Sale to the Government of Iraq for 12 Firefinder Radars and associated equipment, parts, training and logistical support for an estimated cost of $428 million. The Government of Iraq has requested a possible sale of: 6 AN/TPQ-36(V)11 FIREFINDER […]
By John Lee. The second deputy speaker of the Iraqi parliament said Iraq needs to build and provide public services rather than buy heavy weapons, according to a report from AKnews. Commenting on the visit of Iraq's Defense Minister Sadoun al-Dlemi [Sadoun al-Dulaimi, Sadun al-Dulaymi] to Russia to buy heavy weapons, Arf Taifur expressed his surprise […]
By John Lee. Basra Investment Commission (BIC) has granted an investment licence for a $162-million tourism project in central Basra. Khalaf al-Badran (pictured), Chairman of the BIC, said: "The license for the 'Basra Times Square' project was granted to Dier Company for Contracts ... This project will achieve great benefit and will be a remarkable […]
By John Lee. Tourism in the Kurdistan Region is up 75 percent in the last six months in comparison to last year. A spokesperson for the region's Investment Board expects 2.5m tourists to visit in 2012, up from 1.7 million in 2011. According to the report from AKnews, Kurdistan has 370 hotels, 180 motels, 970 […]
By John Lee. AKnews reports that the Kurdistan Regional Government's Ministry of Health has formed a 'high commission' (sic) for approving drugs. The commission is intended to register and approve pharmaceuticals and monitor quality. and then select the data and type of the drugs. (Source: AKnews)
By John Lee. Iraq's Ministry of Planning said that inflation in Iraq for the period from June 2011 to June 2012 has been running at a reported 5.8 percent. This figure is down from the 6.2 percent reported in May, and the 6.7 percent in April. (Source: NINA)
By John Lee. Baghdad Investment Commission has announced that a Turkish company is interested in building large residential projects in downtown Baghdad. According to AIN, a statement by the Commission said: "The Chairman of the Investment Commission Shaker al-Zamili [Shaker al-Zamili, Shaker A Shabib] (pictured) received a delegation from the Turkish Techno Group Company which […]
By Waheed Ghanim. This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A fight between the major trade unions in Basra and that state’s authorities highlights the lack of real labour laws in Iraq. Saddam Hussein-era laws mean […]
By John Lee. Iraq's Trade Minister, Khayrulla Hassan [Khayri-allah Babakir, Dr Khairallah Hassan Babiker] (pictured) has said that 100,000 tons more of wheat will be produced in Iraq than in 2011. According to the report from AKnews, 1.75 million tons of wheat were produced last year, and this is expected to rise to 1.85 million […]
By John Lee. The Ministry of Industry and Minerals has announced an agreement with a Japanese Company to build a new plant for nitrogenous fertilizers in Basra province. A statement from the Ministry said: "The MoI represented by the Petrochemical Industries and Fertilizers Commission concluded a non-binding goodwill letter and Confidentiality Agreement with the Japanese […]
By John Lee. We are very happy to report that our free Iraq Business News' tender service, announced last week, has been a huge success, with businesses checking in regularly to see what new opportunities are available. Please forward all tender opportunities to us at [email protected]. If you've found this or any other IBN services […]
By John Lee. Eurasia Drilling (LSE: EDCL) has announced that it has acquired two onshore drilling rigs in Iraq, with a commitment to purchase a third. All three rigs are currently under contract or being tendered to international customers. To ensure uninterrupted operations, EDC intends to retain the existing management and operational staff and support […]
