The General Manager of Turkey’s Genel Enerji, Orhan Duran, said on Thursday that plans to set up a refinery in northern Iraq, shelved due to the global financial crisis, were back on the agenda and planned total investment was $500 million. He also told Reuters in an interview the company was continuing work on building […]
In another sign of normality returning to battle-weary Iraq, the country is renewing its taste for Scotch whisky,according to a report in The Scotsman. David Gates, whisky director for drinks giant Diageo, said sales of the company's whiskies were on the rise after taking a pounding in recent years. Before the 2003 invasion, Iraq had […]
Basra's Governor, Shaltagh Abboud al-Mayah met with the director general of UAE-based firm in recent days to discuss a possible investment in the site of the former prison at Boca [Camp Bucca]. “The discussions were fruitful,” said a statement issued by the local authorities in Basra, and reported by Aswat al-Iraq. The company’s director general […]
A private-sector company is to invest £200m to build a cement factory with a capacity of one million tons and a total cost of $200 million [240 billion Iraqi dinars] in Muthanna, a source from Muthanna’s Investment Commission said on Sunday. “We have completed all legal measures for contracting and handing over the land for […]
MAXXI, the National Museum of XXI Century Arts in Rome by Zaha Hadid Architects has won the coveted £20,000 RIBA Stirling Prize 2010, in association with The Architects Journal and Benchmark. The presentation of the UK's premier architectural award took place at a special awards ceremony this evening (Saturday 2 October) at The Roundhouse in […]
Representatives from the Ministries of Education, Higher Education and Finance from Baghdad and the Kurdish Regional Government gathered in Erbil during a three-day meeting for the modernisation of the education sector in Iraq. From 23 to 25 September, 2010, UNESCO and UNICEF launched the first national workshop for education of the joint "Iraq Public Sector […]
A second tranche of a World Bank loan to Iraq, amounting to $741 million [890 billion Iraqi dinars], will be allocated for the improvement of the country’s electricity sector, an Iraqi academician and economist said on Sunday. “The agreement between Iraq and the World Bank offered Iraq a $3.6-billion credit, the first tranche of which […]
Iraq again postponed its first census in more than two decades because of political wrangling over disputed areas in the country's north, deputy planning minister Mehdi al-Alak said on Sunday, according to a report from AFP. The October 24 census has now been delayed until December 5, the latest in a string of deferrals that […]
Iraq is set to announce a "big increase" in its oil reserves on Monday, which currently stand at 115 billion barrels, a spokesman for the oil ministry said. Iraq's crude reserves are the world's third largest but its production rate is low thanks to years of sanctions, under-investment and war. Baghdad has signed a series […]
Iraq offers $200 billion investment opportunities to foreign investors, making it one of the most lucrative investment destinations in the region, an Iraqi government adviser said on Thurday. "To be or not to be is not the question here as huge investment opportunities do exist in Iraq and the government will ensure the security to […]
Iraqi banks need to raise at least $10 billion [12 trillion Iraqi dinars] in fresh capital over the next three years to prepare for the expected oil-fuelled construction boom and meet new regulatory requirements, Reuters quotes an investor. Iraq has signed multi-billion deals with oil firms to boost output capacity to 12 million barrels a […]
On the last day of the Erbil international construction trade fair, a joint venture was signed between a Turkish and a UAE company to invest in the housing and construction sector in Iraq. Project Iraq 2010, which was the 32nd international fair opened in Erbil since 2005 and the 6th this year, finished on Thursday. […]
