Aswat al-Iraq reports that the cost of clearing the estimated 25 million mines from Iraq will be around $12 billion. Secretary-General Ban Ki-moon had highlighted the work of United Nations mine action personnel around the world in preventing landmines and unexploded ordnance from causing harm long after conflicts have ended, and transforming danger zones into […]
Kurdistan Region President Masoud Barzani, during a three day visit to Budapest this week, met Hungary's President, Prime Minister, Foreign Minister and Economic Minister on an official visit to promote bilateral relations and cooperation. President Barzani and the Hungarian Prime Minister Viktor Orban discussed ways to develop cooperation and investment opportunities in a number of […]
Iraq's improved relations with its neighbours have been particularly evident in recent times. Following Prime Minister Nouri al-Maliki's two-day visit to Kuwait in March, Iraq agreed to go ahead with the Iraq-Kuwait Boundary Maintenance Project, and to transfer its share of funds allocated for the completion of this project to the UN. The two governments […]
Azzaman reports that the holy city of Najaf has turned into a hub for foreign investments, mainly in areas of housing and tourism, as numbers of foreign pilgrims to the city surge. The head of Najaf Investment Commission, Wafi al-Bahhash, said an estimated $7 billion had been invested, adding that his commission granted new licences […]
The commercial attaché at Iraq's embassy in Saudi Arabia, Ali Jaberal- al-Utti, has reportedly announced the start of negotiations between the two sides to open the Ar Ar [Ara'ar, Arar] border crossing between the two countries. The town is situated in the north of Saudi Arabia, the Iraqi city of Karbala, The nearest town to […]
By Layth Mahdi, Agricultural Advisor. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqi people are like a camel eating grass and carrying gold! Despite the huge oil budget (more than $100 billion/year), poverty and unemployment are the major issues facing the Government of […]
Metito, the provider of total, intelligent water management solutions in emerging markets, has announced four new projects in Iraq, worth over $185m. Metito is partnering with the Snafee Group, to supply the process design of three sewage treatment plants, in South Basra, Um Qasser, Safwan and Shatt Al Arab, which represent a combined contract total […]
The finance committee in the Iraqi Council of Representatives warned on Wednesday about the deterioration of the Iraqi economy due to the low exchange rate of the dinar to the US dollar, assuring that proposals are underway to get the country back on its feet, reports AKnews. According to AKnews, the Iraqi dinar hit its […]
Iraq's Ministry of Construction and Housing is looking at ways to privatise their PMCM (Project and Contract Management) by bringing in an international consulting form to supervise the extensive construction works that are running and planned over the next 24 months. “We want to look at getting a company to contract in Project Management staff […]
Iraq has signed a Memorandum of Understanding in Baghdad with Shell to make a technical and economic feasibility study to set up a major petrochemical plant, reports Aswat al-Iraq. “Iraq has a big vision to cope with the big leaps in the oil sector in the coming few years through the use of the natural […]
The Director General of the Private Transport Section of the Ministry of Transport, Mr. Abdullah Laibi, outlined the opening of the new $14 million passenger terminal adjacent to Karbala airport. Designed to ease congestion between Najaf and Karbala, the new 2,000 car parking facility integrates accommodation, restaurant facilities making access to the airport for pilgrims […]
By Gavin Jones, Director of Iraq Business News, and Partner at consultancy firm Upper Quartile. The Ministry of Construction in Iraq has just spent $250 million on weighbridges from a company based in the British Midlands, for use at border crossings; as Iraqis buys more and more overseas goods, it is important to ensure that […]
