By John Lee. South Korea's Hanwha Engineering and Construction has said that it has received an additional $511 million in advance payment for its Bismayah New City Project (BNCP), located 10 kilometers southeast of Baghdad. According to a report from Yonhap News, this brings the amount of money the builder has received so far for […]
By John Lee. The Deputy Transport Minister, Bangen Rekani, has told Bloomberg that Iraq will seek $2 billion in financing to cover part of the cost of the 40 jets it has on order from Boeing. Iraq ordered 30 737-800s in 2008, followed by 10 787-8 long-haul Dreamliners in 2009, and a single 777 in 2012 -- […]
By John Lee. The Erbil Stock Exchange (ESX) is reportedly due to start operations in the fourth quarter of this year. Ahmed Abdul Rahim Abdullah, Director General of the stock market in Kurdistan, confirmed the schedule to Shafaq News. It is understood that some of the work is being carried out by Nasdaq. (Source: Shafaaq)
A delegation from the Middle East Institute, an American think tank, visited the Kurdistan Regional Government’s Department of Foreign Relations where they met with the Head of the DFR, Minister Falah Mustafa, and the Assistant Head of the DFR, Siham Jabali. The delegation, headed by former Ambassador Wendy Chamberlin, discussed their visit to Kurdistan, highlighting […]
The United States of America and the Republic of Iraq signed a Framework for a Strategic Bilateral Cooperation Program for Addressing Chemical Weapons Risks in Baghdad recently. This program formalizes the cooperative efforts of our two nations in identifying and mitigating the threat of chemical weapons by developing a national response plan and building Iraq's […]
Alstom has secured a contract with Eni Iraq B.V. to build the 740 MW Zubair gas-fired power plant near Basra. The contract is valued at close to €400 million. For this turnkey project, Alstom will be responsible for engineering, building and commissioning the plant as well as supplying key equipment - most notably four highly […]
The Minister of Foreign Affairs, Hoshyar Zebari, has received the UN Regional Bureau Director for Women in the Arab States, Samira Tuwaijri, and her accompanying delegation in Caira. During the meeting, the two sides reviewed the UN activities in Baghdad and Erbil and the programs that the UN aims at doing with the Iraqi government; […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq's government has launched a media campaign to accompany its military offensive against the armed group, known as the Islamic State of Iraq and the Levant (ISIL). It is seen as the most […]
Speech given by Baroness Nicholson of Winterbourne, UK Trade Envoy for Iraq and Chairman of the Iraq Britain Business Council, to the ‘Investment Forum in Iraq and Kurdistan Region’, Rotana Hotel, Erbil: ‘I am indeed grateful for the privilege of addressing this eminent audience,and I thank most warmly the President of The Kurdistan Federation of […]
UN Casualty Figures for March 2014, Anbar province excluded According to casualty figures released by UNAMI, a total of 592 Iraqis were killed and another 1,234 were injured in acts of terrorism and violence in March. The number of civilians killed was 484 (including 133 civilian police), while the number of civilians injured was 1,104 […]
With just four weeks left to the parliamentary elections, and all the uncertainty and risk that that brings, it is interesting to note that money is still flowing into the country and oil is still flowing out. On the production and export side, the latest figures look very positive, and Lukoil has just started production […]
By Nora Lenderby. Iraq Business News is pleased to announce that our intrepid reporter John Lee has been honoured with an award from the Goldman-Rothschild Institute for Monetary Efficiency. Although no formal announcement has been made, we understand that the award relates to the maintenance of monetary stability in Iraq. At first Mr Lee was […]
