By John Lee. China's Dongfang Electric Corp. has completed the first of 10 high speed, desert modified diesel trains at a ceremony attended by Iraq's ambassador to China, Railway Gazette reports. The trains were ordered in 2012, a year after Iraq announced plans for a Basra to Baghdad high speed rail route, an initiative that does not […]
By John Lee. Iraq's housing minister Mohammed al-Darraji says that the country is planning to spend $5bn on new housing units in the next 3 years, but that the required 2.5 million new units will not be complete on time to meet demand, Rebuilding Iraq reports. Currently there will only be 130,000 new units by next year, […]
By John Lee. Deputy Prime Minister for Energy Hussein al-Shahristani (pictured) has welcomed Nechirvan Barzani's offer of sending 100,000 bpd of oil through the State Oil Marketing Company. According to Aswat al-Iraq, Barzani's widely reported "good will" gesture was also welcomed by former oil minister Ibrahim Bahr al-Uloum who was positive about the offer. Until the […]
By John Lee. Arab Bridge Maritime, the joint venture established by the governments of Iraq, Jordan and Egypt in 1985, is planning a two ferry service between Basra and Dubai. The venture will initially cost $2 million per year based on the hiring cost of the ferries, and if successful the ferries will be purchased, […]
By Mushreq Abbas for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The newly issued judicial decisions disqualifying election candidates in Iraq have reopened the debate on the standards of justice and equal opportunity for candidates. This time the controversy was accompanied by a debate on the loose mechanisms […]
By John Lee. Kurdish Regional Government PM Nechirvan Barzani (pictured) has offered to send 100,000 bpd of oil from the Kurdish region through the State Oil Marketing Company, Reuters reports. The move is designed to partially appease Baghdad in the on going and tortuous dispute over oil revenues and exports to Turkey. Currently over 1 million […]
The United States continues to accelerate delivery of weapons and ammunition to Iraq consistent with our Strategic Framework Agreement and long-term security partnership. These deliveries are made in response to specific Iraqi requests and pursuant to a holistic counter-terrorism policy that incorporates political, economic, and security measures. On the security side, it is essential that […]
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. Basra’s Mighty Petro-Dollar: But Does the Province Have Anything to Show for it? Basra is one of the country’s wealthiest provinces in terms of oil it produces; its budget for 2014 […]
A delegation from the UK Export Finance Department visited the Kurdistan Department of Foreign Relations to discuss opportunities for building further relations with Kurdistan in various fields of infrastructure and investment. The UK delegation was led by Steve Dodgson, the Business Group Director of UK Export Finance and included the British Consul General, Hugh Evans […]
By John Lee. A Jordanian economic delegation from the public and private sectors will visit Iraq later this month to discuss economic issues of concern to both Jordan and Iraq, Jordanian Minister of Industry, Trade and Supply, Hatem Halawani [Hatem Hafez Al-Halawani Al-Tamimi] (pictured), said. During a visit to three factories in Eastern Amman, the […]
With just six weeks left to the parliamentary elections in Iraq, scheduled for 30th April, former Prime Minister Iyad Allawi has sais that the elections may not be held due to the security problems in the country. Addressing a youth organization affiliated to his National Iraqi Alliance, Allawi expressed doubts about the integrity and transparency […]
Gulf Keystone has announced that it has mandated Deutsche Bank and Pareto Securities to arrange a series of fixed income investor meetings in the US, Europe and Asia commencing 20 March 2014. A debt offering of up to US$250 million in accordance with Reg S/144A is expected to follow, subject to market conditions. On 13 […]
