By John Lee. Both Germany's Siemens and US-based GE have signed deals with the Iraqi government on Sunday to provide major additional power generating capacity to Iraq. Following a hotly-contested competition, the two rivals are to share the work, with GE supplying 14 Gigawatts (GW), and Siemens 11 GW. (Sources: GE, Siemens)
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Petroleum Policy Proposal for the New Government: Contents, Justifications and Indicators Petroleum (oil & gas) sector remains, in the next four years as it has been in previous eight decades, the basic […]
GE (NYSE: GE) signed Principles of Cooperation (POC) with the Iraqi Ministry of Electricity to develop the country’s power sector. The plan is expected to generate up to 14 gigawatts (GW) of power, create up to 65,000 direct and indirect jobs, support the government to realize savings and recoverable losses of up to $3 billion […]
Siemens in landmark MoU to repower Iraq, support economic prosperity Siemens and the Ministry of Electricity of the Republic of Iraq have entered a milestone agreement to seek the implementation of the company’s roadmap for repowering Iraq. Signed by Qasim Al-Fahdawi, Minister of Electricity, and Joe Kaeser, President and CEO of Siemens AG, the Memorandum […]
By John Lee. A Turkish company has won a tender to supply and deliver Metallic Garbage Containers to the United Nations Office for Project Services (UNOPS) in Iraq. The contract with Ram Dis Ticaret A.S. is valued at $91,860. (Source: UNGM)
US Assistance to Ethnic and Religious Minorities in Iraq As part of the continued commitment by Vice President Pence, Secretary Pompeo (pictured), and USAID Administrator Green to support ethnic and religious minorities in Iraq as highlighted earlier this year at the first-ever Ministerial to Advance Religious Freedom, the United States is proud to announce over […]
GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld's Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments […]
UK-based Amarinth has secured its first order from Iraq Gates Contracting Company (IGCC) for $410K of API 610 OH1 pumps on 22-weeks FCA delivery for the Rumaila oil field, Iraq. This first order for Amarinth from Iraq Gates Contracting Company (IGCC) of $410K is for ten API 610 OH1 condensate transfer pumps with Plan 11 […]
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Arak distillery promotes ambitious new brand in defiance of alcohol ban Distiller Amer ad-Doumali launched “Arak Bashiqa” in September, a new brand of the Levant's traditional anise drink whose […]
By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has transferred ownership of nine state-owned oil companies from the Ministry of Oil to the newly-created Iraqi National Oil Company (INOC). The Minister is also the President of INOC. The companies transferred to INOC ownership are: Iraqi Oil Exploration Company Iraqi Drilling Company (IDC) State […]
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions today on Afaq Dubai, an Iraq-based money services business (MSB) that has been moving money for the Islamic State of Iraq and Syria (ISIS). Today’s designation follows action taken by the Department of Defense—announced on October 11—against a key ISIS financial […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 18th October 2018). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD634 (-3.8%) / $678 (-3.8%) (weekly change) (-21.6% and -18.9% YTD change, respectively). The number of week traded […]
