Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
The victory of Shiite cleric Moqtada al-Sadr’s party in Iraq’s recent election has put the United States in a wait-and-see position, Defense Secretary James N. Mattis told reporters yesterday in Colorado Springs, Colorado. The secretary was in Colorado to preside at the change-of-command ceremony for North American Aerospace Defense Command and U.S. Northern Command. “History […]
By John Lee. Reuters reports that Bain Capital Credit has been chosen for a 900-million-euro ($1.06 billion) deal to rescue the heavily-indebted Italian engineering firm Trevi. Among Trevi's current projects is the stabilisation of Iraq’s Mosul Dam. More here from Reuters. (Source: Reuters)
The UK's Serious Fraud Office (SFO) has brought further charges against two individuals facing trial in relation to the Unaoil investigation. Basil Al Jarah and Ziad Akle have both been charged with conspiracy to give corrupt payments to secure the award of a contract worth US$733 million to Leighton Contractors Singapore PTE Ltd for a […]
By John Lee. Newtechnic, which describes itself as a world leader in building engineering technology, has reportedly won the contract to design the facade and oversee the co-ordination and construction of the new Central Bank of Iraq (CBI) building in Baghdad. According to New Civil Engineer, the building, designed by Zaha Hadid Architects (ZHA), will […]
By John Lee. Shares in Genel Energy were trading up 8 percent on Thursday morning after the company announced a big jump in cash reserves and positive developments at Peshkabir: Stephen Whyte (pictured), Chairman of GenelEnergy plc gave the following update at the company's Annual General Meeting this morning: "After a landmark 2017, Genel is […]
Australia Substantially Increases Support to Stabilization in Iraq The Government of Australia has contributed an additional USD 13.5 million (AUD 18 million) to the UNDP Funding Facility for Stabilization (FFS), which finances fast-track initiatives in areas of Iraq liberated from the Islamic State of Iraq and the Levant (ISIL). This brings Australia’s total contribution since […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The parliamentary transparency commission in Iraq says $320 billion has gone missing in the past 15 years, because of government c. It's one of many big issues weighing on the minds of Iraqis […]
Qatar Fund For Development Supports WFP’s Food Assistance Program in Iraq The Qatar Fund For Development (QFFD) has made a contribution of US$3 million to the United Nations World Food Programme to provide assistance for displaced people in Iraq. The funding will support more than 22,000 Iraqis living in camps. “The Qatar Fund For Development […]
Access to safe drinking water is ensured for over 33,000 people in the Governorate of Erbil The United Nations Development Programme (UNDP) and Erbil Governorate completed the rehabilitation of the main water treatment plant in Rawanduz sub-district, which provided safe drinking water to over 33,000 people, including 2,000 internally displaced people (IDPs). With support from […]
Mr. Jawad Ahmed Bu Khamseen, Chairman of the Kuwaiti Bu Khamseen Holding Group, said that Iraq represents a great gateway to religious tourism, which is an important pillar for Muslims in most parts of the world. This important tourism sector has not been invested properly during the past periods of Iraq’s history where millions of […]
JICA to Support Reconstruction through Development and Rehabilitation of Water Supply and Irrigation Facilities: On 3 May, 2018, the Japan International Cooperation Agency (JICA) and the Iraqi Government signed two loan agreements at Ministry of Finance in Baghdad. These two ODA (Official Development Assistance) loans, amounting to JPY 34,880 million (approximately USD 329 million) in […]
By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] (pictured) has announced the construction of a tourism and entertainment resort in Basra, to "honor and appreciate its role to support the national economy as a generous oil governorate." The $234-million Muftiya City project has been awarded to an international holding company he named as […]
