The United Nations Security Council welcomed the Iraqi Government’s assumption of full autonomy, with effect from 1st July, over the proceeds of a development fund set up after the 2003 United States-led invasion to meet the country’s humanitarian needs, economic reconstruction and infrastructure repairs. In a press statement, the Council welcomed the Government’s establishment of […]
Iraqi authorities should order a prompt and impartial inquiry into the role of state security forces in attacks by pro-government gangs against peaceful demonstrators in Baghdad on June 10, 2011, Human Rights Watch said today. The groups of mainly young men, armed with wooden planks, knives, iron pipes, and other weapons, beat and stabbed peaceful […]
A security source in Basra Province revealed on Wednesday that Iran is preparing to drill an oil well 600 meters from the border of Iraq's Basra province, and stressed that relevant government authorities were informed of this activity, according to Alsumarianews. The source told the agency that border forces detected the installation of an Iranian […]
Iraq’s insurgents are targeting the country’s oil industry, according to a report by Joel Wing for AKnews. In June there were five attacks on oil-related infrastructure and personnel: June 5: Zubair oil field in Basra was attacked. Reports differ as to whether it was hit by bombs or rockets, but its oil storage facility was […]
Cyprus Airways has added two new Middle Eastern destinations to its schedule, with flights to Erbil in Northern Iraq starting on 4th July, and flights to the Iranian capital Tehran starting on 7th July. At Erbil the first four flights will be chartered and will operate with a frequency of one per week, but the […]
TNT Mateen Express Iraq, the global business to business express delivery company, can now delivery parcels inside the International Zone, formerly known as the Green Zone. Located in Baghdad city, the International Zone embraces major multinational companies and is also known as the diplomatic and government district. TNT Mateen Express can now deliver and pick […]
There was more sabre rattling on the Iraqi political scene this week, as the Speaker of parliament, Osama al-Nujaifi, hinted at the possibility of a break-away Sunni state. His statements follow indications, finally, from Prime Minister Nouri al-Maliki to the effect that ministerial heads may metaphorically roll as a result of their poor performance. These […]
Update, RBC Capital Markets opinion: albeit the size of the contract is not material compared to Petrofac's backlog, we believe that any positive developments from Iraq should be seen as a positive step for Petrofac. This region becomes increasingly strategic, especially for the newly created Integrated Energy Services (IES). This contract award follows the EPC […]
WesternZagros Resources has announced its results for the period ended March 31, 2011, key highlights, and activities to date. On May 31, 2011, WesternZagros made an oil discovery in the Jeribe Formation at the Sarqala-1 exploration well. The Company tested the well at rates up to 9,444 barrels per day of 40 degree API oil. […]
On Wednesday a number of currency dealers in southern Iraq’s Nassirya City reported the spread of a new counterfeit 10,000-dinar notes, according to Aswat al-Iraq. “We have noticed the existence of a false 25,000-dinar currency in the market, being cautious against it, but a new false 10,000-dinar note, with a very close print to the […]
The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. […]
Many UK companies such as BTWShiells, HSBC, Land Rover and Mothercare have already joined international brands such as Carrefour, Coca-Cola, Diesel, Ecco, Lafarge, Pepsi, Levi’s and Mango in Kurdistan but there are many more opportunities for UK companies, in a surprisingly wide range of sectors in the Region. With 71 companies now operating in the […]
