By John Lee. The China Machinery Engineering Corporation (CMEC) has announced that it been awarded the contract to build the Harir cement plant in Erbil. According to a stock exchange filing, the contract is valued at approximately $210 million, and the project is expected to be completed within 30 months. (Source: CMEC)
New €10m contribution from Germany expands UNDP Iraq's Coronavirus response into 15 governorates German Government's KfW Development Bank and the United Nations Development Programme (UNDP) in partnership with the Government of Iraq, have today signed a EUR 10 million agreement (US$11.75 million) to support Iraq's response to COVID-19. The contribution was made by the German […]
By John Lee. Iraqi Prime Minister Mustafa al-Kadhimi met on Sunday with the Supreme Committee for Building Schools in Iraq. During the meeting, they discussed the launch of a project to build 7,000 new school buildings across the country. The first phase of the project will be the construction of 1,000 new schools following a […]
By John Lee. Erbil-based Intellect Code, which specialises in advertising, marketing and market research, has announced the acquisition of 100 percent of the company's shares by Ahmed Gorani, who is the current CEO of the company. A statement from the company said that Mr Gorani bought the shareholdings of his partners Mohamed Emad and Waleed […]
IBBC's 5th Annual Iraq Conference in Dubai - Opportunity in Adversity The Iraq Britain Business Council (IBBC) was much praised at its conference on Thursday for pioneering in COVID-19 times by bringing together senior officials from Iraq, the UAE and the UK, prominent international and Iraqi businessmen, bankers and professional advisers as speakers and over […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) were trading up 5 percent on Monday morning as the company announced that the planned workover on the SH-12 well has been completed safely. Jón Ferrier (pictured), Gulf Keystone's Chief Executive Officer, said: "We continue to successfully manage the challenging macro backdrop and make operational progress. […]
By John Lee. The China National Petroleum Corporation (CNPC) and China National Offshore Oil Corporation (CNOOC) are reportedly considering acquiring Exxon Mobil's remaining stake in Iraq's West Qurna 1 oilfield. According to sources cited by Bloomberg, the stake could fetch more than $500 million. ExxonMobil originally had a 60% stake in the field, but sold […]
By John Lee. At a meeting last week under the chairmanship of Prime Minister Mustafa Al-Kadhimi, the Iraqi Cabinet agreed to: Approve the draft Pension and Social Security Law and refer it to Parliament. The draft law aims to give the same pension, social security and other rights to workers in the private sector as […]
UNESCO launches an international architectural competition to rebuild Al-Nouri mosque UNESCO calls on talents around the world to participate in an exclusive International Architectural Competition for the reconstruction and rehabilitation of the Al-Nouri Mosque Complex, funded by the United Arab Emirates (UAE), in the Iraqi city of Mosul. Joining the initiative "Revive the spirit of […]
By Dr Renad Mansour for the Royal Institute for International Affairs (Chatham House). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. When Donald Trump became US president, Iraq was on the verge of defeating ISIS and heading towards stabilisation - as he leaves office, […]
By John Lee. Iraq has fallen one place in this year's Legatum Institute Prosperity Index, ranking in 137th place out of the 167 countries measured. The Index consists of 12 pillars of prosperity, built upon 66 actionable policy areas (elements), and is underpinned by 294 indicators. Denmark, Norway and Switzerland took the top three positions. […]
By Michael Rubin, resident scholar at the American Enterprise Institute, for 1001 Iraqi Thoughts. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Will Biden Avoid the Barzani Trap in Iraq? There has never been a U.S. president-elect more well-versed in Kurdish affairs than Joe […]
