Spain’s official foreign trade agency yesterday [Monday] launched a two-day business forum in Erbil to strengthen commercial ties between Spain and the Kurdistan Region. At the forum, 50 leading Spanish companies met government officials and representatives of over 150 local firms. On behalf of Prime Minister Barham Salih, the Chairman of Kurdistan’s Investment Board Minister […]
The Iraqi Ministry of Water Resources announced on Monday a significant decline in water levels in the country’s strategic Mosul and Haditha (pictured) dams due to a lack of rainfall in the Tigris and Euphrates rivers and a reduction in water flow from Turkey, Syria and Iran. Director of Projects Ali Hashim told AKnews that […]
Basra Investment Commission has granted an investment licence to the Al- Mawada Company for Media Production and Broadcasting. The project includes the construction of a media complex in Kut Al- Faranki, and it will be completed within 6 months. The total value of the project is estimated at 5.24 billion Iraqi dinars ($4.4 million). The […]
Basra Investment Commission has granted an investment license for an agricultural project to construct a technical laboratory for tissue cultivation in a cost of 4.8 billion Iraqi Dinars [$4m]. The project includes the building of a laboratory to produce palm trees and plants by using tissues. It also includes a research and studies centre to […]
The Swedish Ambassador to Iraq, Carl Magnus Nesser, said the Kurdistan Region is very appropriate for investment, according to a report from AKnews. During a visit to the Awamedica pharmaceuticals factory (pictured) in the Kurdistan Region, he said there are many Swedish companies considering investment in Kurdistan. (Source: AKnews)
Iraq may purchase electricity from Armenia, said Vice-Prime Minister of IraqSaleh al-Mutlaq at the meeting with Armenian Ambassador Murad Muradian. The sides discussed possible areas of economic cooperation, including ways of supplying electricity from Armenia to Iraq, expressing the hope that this problem will be resolved. Ambassador Muradian informed the vice-prime minister of Iraq that […]
MAG (pronounced “Mag”) – Mines Advisory Group – is a neutral and impartial humanitarian organisation that clears the remnants of conflict for the benefit of communities worldwide. MAG is creating a more secure environment in Iraq, enabling development and helping people to return home safely. Internal conflicts, the 1980-88 war with Iran, the 1991 Gulf […]
Iraq's Ministry of Electricity announced on Tuesday the experimental launch of a number of electrical units in the al-Sadr gas station. According to the report from AKnews, the plant is operated by the Iranian company Snair (which Iraq Business News believes to be Sunir). The ministry’s media spokesman, Musab al-Mudarres, told AKnews that the station […]
Today [Monday] the Kurdistan Regional Government (KRG) Prime Minister Barham Salih, following the visit to Erbil of Iraqi Federal Finance Minister Rafie al-Issawi, welcomed the new efforts made by all parties in the federal government on Iraq’s planned oil and gas legislation. “We have had excellent discussions with Finance Minister al-Issawi,” said Prime Minister Salih. […]
Shares in WesternZagros Resources fell 18% on Tuesday following the release of its year-end results. There is uncertainty about the company's ability to continue as a going concern, and additional funds will be required. The text of the company's announcement is shown below, and the full announcement can be downloaded here. WesternZagros' highlights and activities […]
Johnson & Johnson, the world’s second-biggest maker of medical products, will pay $70 million after admitting that the company bribed doctors in Europe and paid kickbacks in Iraq to win contracts and sell drugs and artificial joints. Bloomberg reports that subsidiaries of J&J paid bribes to doctors and hospital administrators in Greece, Poland and Romania, […]
South Korea's Hyundai Heavy Industries has tendered the lowest of six bids for the construction of a 500-megawatt natural-gas fired power plant in Najaf, an Iraqi Electricity Ministry official said. According to Bloomberg, Hyundai bid $158.9 million for the work; Metka SA (METTK) of Greece, Turkey’s Enka Insaat & Sanayi AS, Lanco Infratech Ltd. (LANCI) […]
