Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
By Omar al-Jaffal, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.v “Ramadi has turned into ruins,” said Ouda, a soldier who has been fighting in the Iraqi army’s Seventh Division since mid-2015. Ouda took part in the liberation of Anbar province from the Islamic State […]
The Netherlands is giving $5.69 million (€5 million) to the United Nations Development Programme (UNDP) to support stabilization in areas newly liberated from the Islamic State of Iraq and the Levant (ISIL). The Dutch contribution will be allocated in two installments to UNDP’s Funding Facility for Immediate Stabilization (FFIS) which channels fast-track support to liberated areas […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 30 banks and 21 remittance companies took part in its currency auction on Sunday. A total of $79,005,544 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Iraqi-born Architect Dame Zaha Hadid has died, aged 65. BBC News reports that she died following a heart attack on Thursday in a Miami hospital, where she was being treated for bronchitis. Among her many awards, she received the Pritzker Architecture Prize (considered the Nobel Prize of architecture) in 2004, and was the first woman […]
By John Lee. An investigation by Fairfax Media -- publisher of The Age and The Sydney Morning Herald newspapers -- and The Huffington Post, claims that Monaco-based Unaoil has been involved in widespread bribery and corruption in the oil industry, including in Iraq, Iran and Libya. Following examination of tens of thousands of emails, the report says that Unaoil […]
By John Lee. ALE has been awarded several contracts at the Karbala Refinery Project. The deals include the provision of approximately 50 crawler, rough terrain and mobile cranes, the execution of heavy lifting operations, as well as the heavy transportation of approximately 45 oversized items, weighing up to 250 tonnes each. The project has already […]
UNDP and Japan partner to support stabilization and resilience in Iraq The Government of Japan is providing US$23.5 million to support the United Nations Development Programme (UNDP) in its work to help stabilize and build resilience in Iraq. Japan’s contribution will be channeled through UNDP’s Funding Facility for Immediate Stabilization (FFIS) and through UNDP’s Iraq […]
Siemens has signed a Memorandum of Understanding (MoU) with the Federal Government of the Republic of Iraq to strengthen the collaboration with the Ministry of Energy as well as Ministry of Oil & Gas for modernizing the energy infrastructure and the Oil & Gas sector. In the presence of the Prime Minister of Iraq, Mr. […]
By John Lee. Platts reports that Iraq's oil ministry has received a bid from a Jordanian-Chinese consortium to build and operate a 1-million-bpd crude oil export pipeline to the Red Sea port of Aqaba. Jordan's Mass Group Holding, along with a consortium of Chinese companies, submitted a service fee proposal to Iraq's oil ministry for […]
By John Lee. Kurdistan's Qaiwan Group has secured two loans totalling $105 million to refinance part of the firm's investment in the 442-MW Bazian Power Plant (pictured). According to a report from Trade Arabia, Deutsche Bank has arranged an eight-year $75-million buyer credit, along with the Dubai branch of Lebanon's Bankmed. The finance is being […]
The Governor of Anbar, Mr. Sohaib al-Rawi, and the United Nations Development Programme (UNDP) Resident Representative and UN Resident and Humanitarian Coordinator for Iraq, Ms. Lise Grande, visited Ramadi today to assess conditions and provide urgently needed support to families returning to their homes. The delegation met with security forces and representatives of the local […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 28 banks and 19 remittance companies took part in its currency auction on Wednesday. A total of $82,402,011 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
