Epsilon Telecommunications, the world’s largest global telecoms network exchange, has been selected by Iraqi network operator FastIraq to provide international connectivity and local access to enterprise locations globally. This extends FastIraq’s network reach to new destinations and allows it to leverage interconnects with Epsilon’s more than 450 preconnected carriers. Epsilon will provide local access from […]
Menara Networks, a vertically integrated provider of IP/Ethernet DWDM transport solutions that greatly simplify optical networking, announced on Friday that IQ Networks, a leading facility-based fiber Internet Service Provider in Iraq, has selected Menara Networks transponder-less DWDM solution to build a state-of-the-art national 10 Gbps IP over DWDM network in Iraq. IQ Networks will use […]
By John Lee. Warka Bank has issued the following statement with regard to its legal case against the Central Bank of Iraq: "With regards to the legal court case Warka Bank for Investment and Finance has filed against the Central Bank of Iraq Warka Bank for Investment and Finance is delighted to inform its cliental, […]
Minister Falah Mustafa received the new Polish Consul, Mr Roman Jerzy Chalaczkiewicz, to the Kurdistan Region yesterday. The new consul has previously served as ambassador to Iraq (1997-2002) and in other countries in the Middle East, including United Arab Emirates. The assignment of the new consul follows the inauguration of their consulate in June last […]
As many of our readers will already be aware, Iraq Business News has a sister publication, Libya Business News, and we are pleased to report that it’s going from strength to strength. Clearly the two countries are in different stages of development, politically as well as economically, but they face similar challenges, and those challenges bring […]
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq is close to completing design of a pipeline to carry Iraqi oil to Jordan and Egypt through the Gulf of Aqaba. Once completed, the project is to be handed over […]
Afren has announces an update on the on-going testing programme on the Hunt Oil Middle East (HOME) operated Simrit-2 well, yielding incremental flow rates of 5,368 bopd, with a cumulative rate of 18,952 bopd from six of the 12 zones tested. Following the conclusion of drilling operations at the Simrit-2 well, located on the northern […]
By John Lee. An American contractor has been sentenced to 13 years in prison for taking at least $3.7 million in bribes and kickbacks while working for the US army in Iraq. John Alfy Salama Markus, 40, pleaded guilty in September before a federal judge in New Jersey to taking the money in connection with […]
By Mustafa al-Kadhimi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. During Iraq’s recent crises, the young religious leader Muqtada al-Sadr has presented himself as a mature and visionary politician. In the past, Sadr, his movement and its military wing, the Mahdi […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. A decade after the US-led invasion of Iraq, years of violence and disdain for the country's current political class fuel nostalgia for Saddam Hussein -- the man the foreign troops fought to oust: (Source: […]
By John Lee. Iraq's Petroleum Contracts and Licensing Directorate (PCLD) has announced that seven international oil companies (IOCs) have been selected to bid for the development of its Nasiriya oilfield and refinery: Zarubezhneft, from Russia (Up and Downstream); CNPC, from China (Downstream); Brown Energy, from US (Downstream); Reliance Industries, from India (Up & Downstream); Lukoil, […]
By John Lee. Iranian deputy oil minister Javad Owji [Ouji, Oji] (pictured) says the country’s revenues from the planned export of natural gas to Iraq will reach $1.5-$2 million a day. According to a report from PressTV, he went on to say that Iran will start delivering gas to its western neighbour within three months. […]
