Oryx Petroleum has announced that it has determined that the Demir Dagh 2 well discovery is a Commercial Discovery pursuant to the terms of the Erbil Production Sharing Contract. Oryx Petroleum is currently undertaking an extensive appraisal program in relation to the full Demir Dagh field, and will continue to undertake such appraisal activities through […]
Siemens Energy has been awarded an agreement to perform service and maintenance at the 600 megawatt (MW) Baiji [Bayji] gas power plant, located in the Salah al-Din governorate in Iraq. Under terms of the contract signed with Iraq's Ministry of Electricity, Siemens will supply and deliver spare parts for the Baiji power plant's four SGT5-2000E […]
By Amal Sakr for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq has been struggling with an increase in poverty rates for many years. While the Iraqi Ministry of Planning notes that the rate of poverty has recently decreased, reaching 11%, statistics released […]
The Head of the KRG Department of Foreign Relations, Minister Falah Mustafa, has welcomed the British Consul General in Erbil, Mr Hugh Evans, who was accompanied by Mr Angus McKee, the Head of the Syria Office at the British Embassy in Lebanon. The meeting focused primarily on the latest political and security situation developments in […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Many countries impose capital gain tax on individuals, companies and corporations when a profit realized from the sale of assets. National and state legislation often has a large array of fiscal obligations […]
Iraq is not currently the obvious choice for a ski holiday but the Korek Mountain Resort in Kurdistan is hoping to change that. The $95m resort in northern Iraq threw a pre-launch party as part of the government's plan to make the region a major tourist destination. However with ongoing security concerns in southern Iraq, […]
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. Karbala’s New Computer System to Prevent Bribery, Abuse and Burning of Official Documents Authorities in the religious centre of Karbala are planning to computerize their records and start a […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 5th February 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,939 (-0.5%)/ $2,059 (-0.5%) (weekly change). The number of week traded shares was 7.4bn and the weekly trading […]
By John Lee. Foreign Minister Hoshyar Zebari met members of the Iraq governmental delegation negotiating with Iran on issues of land and river borders' demarcation and rivers. The delegation composed of representatives from the legal department at the General Secretariat, the Ministries of Water Resources, Transportation, Defense and Foreign Affairs, in addition to Command of […]
By John Lee. Ahmed Alomary, a former commissioner at the Communications and Media Commission (CMC), told Reuters that Iraq plans to auction third-generation (3G) telecommunications licences for a minimum of $307 million each. Current 2G services are supplied by Zain Iraq (a unit of Kuwait's Zain), Asiacell (a subsidiary of Ooredoo) and Orange affiliate Korek, who […]
By John Lee. Versar Inc. has announced that the United States Army Corps of Engineers, Middle East District (USACE-TAM) has extended the Company's ongoing Personal Services and Support contract in Iraq by six months. The extension has a ceiling value of $1.5 million and the period of performance runs through August 6, 2014. Versar has […]
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. On Aug. 31, 2013, Iraqi security forces used force to disperse demonstrations organized by activists and intellectuals in Baghdad and other cities to demand the cancellation of privileges and salaries for MPs […]
