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“Corruption” at Al-Ahdab, Execs Dismissed

A media department official in Wassit Council said on Sunday that they had expelled executives from the Al-Ahdab oil field accusing them of embezzling public funds. Taha Hassan Abdul told AKnews that the decision came after a delegation from Wasit council including its deputy chairman visited the field, 30 km west of Kut, with a […]

Russian/Swiss Firm to Build 2 Power Stations in Amara

The local administration in the province of Maysan [Missan] has reportedly agreed a deal with a Swiss-Russian firm to set up two power stations  in the city of al-Amara, according to Aswat al-Iraq. “The Missan local government agreed today (Sept. 25) with Russia’s Wintercroft Capital to build two steam-operated power stations with capacities of 650 […]

‘Expert’ Challenges Iraq’s Oil Targets

The Iraqi Oil Ministry is “optimistic” if it expects that Iraq is going to produce 12 million barrels per day in 2016, an Iraqi expert said on Monday. “It is a sort of optimism to think that Iraq could reach an oil production level of 12m barrels a day in six years,” Nazar Ahmed told […]

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British Trade Delegation Visits Erbil

The President of the Kurdistan Chamber of Commerce announced the arrival of the British trade delegation headed by the President of the British Business Council in Iraq, to strengthen ties between Kurdistan and Britain. Dara Jalil Khayat told AKnews that the purpose of the visit is to develop business relations between Britain and Kurdistan “in […]

Erbil Shows Baghdad Path Out of Political Impasse

By Eugen Iladi. The opinions expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News. The inability of Iraqi political elites to form a government more than six months after the March elections is hardly surprising given the fragmented poll results and deep divisions separating top leaders. […]

$25m More for Diyala Road Upgrade

The Iraqi Council of Ministers has decided to increase the amount allocated to develope the Khaliss-Idhaim road by ID31 billion [$25.8m], bringing the total cost of ID40 billion [$33.3m], accordign to Aswat al-Iraq. “This road is both important and strategic because it links the mid and northern provinces of Iraq,” Dr. Ali al-Dabbagh (pictured), the […]

Najaf’s Urban Renewal is Underway

The Iraqi Minister of Municipalities, Riad Ghareeb, and the governor of Najaf, Adnan Al-Zurfi, have announced the start of the urban renewal project of the old city. Riad Ghareeb told Aknews during his meeting with al-Zurfi and some members of the executing company, “the renewal project for the old city center of Najaf has been […]

Egyptian Firms Claim Under Iraq Oil-for-Food Program

Egyptian private- and public-sector officials have criticized the Foreign Ministry’s seeming disregard for demands by the Trade Ministry’s Trade Representation Agency for US$1.1billion in compensation to be paid out to Egyptian companies and workers in Iraq as part of the UN’s longstanding Oil-for-Food Program, according to a report in Al-Masry Al-Youm. Egyptian companies operating in […]

Privatisation is the Way Forward

An Iraqi economic expert said on Thursday that the Iraqi government should embark on a privatization program to improve the state of industry in the country. Fadhel Al-Moussawi told AKnews, “The Iraqi government has not been successful in improving the country’s industrial conditions in the past several years due to the reluctance and lack of […]