Hermes Datacommunications Middle East, a key specialist providing Wide Area Network communications to the upstream oil and gas industry has won a contract to continue providing VSAT communications to support BP’s operations in Iraq. Hermes will continue supporting degassing stations, rigs and static life support camps. Included in this contract renewal is additional bandwidth to […]
Iraq’s government said it would raise salaries at its southern oil terminals, following threats of a strike that would paralyse oil exports, reports AFP. “The cabinet decided to grant a 30 percent increase in salaries of employees at the oil terminals in Basra and in Khor al-Aamaya” near the southernmost Faw peninsula, government spokesman Ali […]
Iraq’s parliamentary economic committee has asked the government to explain a $9.48 million aid donation to Japan to help deal with the aftermath of the devastating March 11 tsunami. The donation was announced last week in a government statement, alongside hints of a potential business arrangement between the two countries. “The government has agreed to […]
Kurdistan Region Tourism Minister, Samir Abdullah Mustafa, yesterday called on British investors to make the most of the opportunity to invest in Kurdistan’s tourist sector at a conference in London. Setting out plans to build 2,500 new hotels to accommodate another 1.35 million visitors annually by 2015, the Minister also highlighted existing success stories within […]
Iraq’s Finance Minister, Rafie al-Issawi (pictured), has discussed with a visiting Syrian delegation in Baghdad on Monday the issue of the abolition of customs charges on all Syrian goods entering Iraq, a Finance Ministry statement reported. “Issawi has received a high-level Syrian economic delegation, and both sides have discussed means for boosting economic and banking […]
Iraq will be one of the main revenue contributors to Schlumberger's Middle East operations and will be bigger than most of the company's other markets in the region with the exception of Saudi Arabia, Chief Executive Andrew Gould (pictured) told the Financial Times on Tuesday. "Next year Iraq will be really big", said Gould. The […]
After re-evaluating all investment ventures in the region the Kurdistan Regional Government has revoked the licences for 238 of them, the minister for municipalities and tourism said on Sunday, according to AKnews. Samir Abdullah told the agency that a number of other projects are being considered for scrapping. The moves are seen as an effort […]
Iraqi operators Asiacell, Korek Telecom and Zain are facing a mandatory deadline for an initial public offering of stock, with reports stating that the companies have to sell-off a 25 percent holding on the local stock exchange within four years of acquiring their licences, according to Mobile Business Briefing. This means that the companies must […]
With 12 million subscribers in Iraq, Kuwait’s Zain is the market leader in the Iraq Telecoms industry, currently considering several tender offers to manage its telecoms network in Iraq. Zain is likely to award the contract in the next few weeks; the winner will be able to improve the network quality, while Zain will focus […]
Reuters reports that the China National Petroleum Corp (CNPC), the first foreign oil company to sign an oil service contract in Iraq after former president Saddam Hussein was toppled, said on Monday said that it completed construction of the first phase of the Al-Ahdab oilfield. The parent of PetroChina Co Ltd said it started work […]
French engineering group Alstom is in exclusive talks to build a high-speed rail line between Baghdad, French junior transport minister Thierry Mariani announced. "Alstom and the Iraqi railway have signed a memorandum of understanding to build a high-speed rail line between Baghdad and Basra," Mariani told journalists at the Paris International Airshow, according to a […]
According to a report from Al Sumaria News, Iraq’s Central Bank announced on Thursday that it is planning to delete the zeros from its currency, the Iraqi dinar. This step is one of the bank’s strategic missions, the Central Bank said adding that the new currency will include the Kurdish language in addition to the […]
