Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
Iraq’s government said it would raise salaries at its southern oil terminals, following threats of a strike that would paralyse oil exports, reports AFP. “The cabinet decided to grant a 30 percent increase in salaries of employees at the oil terminals in Basra and in Khor al-Aamaya” near the southernmost Faw peninsula, government spokesman Ali […]
Iraq’s parliamentary economic committee has asked the government to explain a $9.48 million aid donation to Japan to help deal with the aftermath of the devastating March 11 tsunami. The donation was announced last week in a government statement, alongside hints of a potential business arrangement between the two countries. “The government has agreed to […]
After re-evaluating all investment ventures in the region the Kurdistan Regional Government has revoked the licences for 238 of them, the minister for municipalities and tourism said on Sunday, according to AKnews. Samir Abdullah told the agency that a number of other projects are being considered for scrapping. The moves are seen as an effort […]
With 12 million subscribers in Iraq, Kuwait’s Zain is the market leader in the Iraq Telecoms industry, currently considering several tender offers to manage its telecoms network in Iraq. Zain is likely to award the contract in the next few weeks; the winner will be able to improve the network quality, while Zain will focus […]
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. In May, a team from the International Organisation for Migration (IOM) were working in the mountains near Halabja, Sulimaniyah to restore a traditional irrigation system for a nearby […]
Details of the new Basra Logistics City, on the site of the old Camp Bucca, have been released. In December, the head of Basra Investment Commission said the $245 million-deal with the Iraqi Kufan Group and the American Northern Gulf Partners to develop the site marked a significant step toward rebuilding Iraq as it emerges […]
The Kurdistan Region in Iraq continues to grow and strengthen economically and remains a prime opportunity for investors to find a profitable home in the Middle East, Qubad Talabani (pictured), the KRG’s Representative to the United States, told investors in Manhattan yesterday. Addressing an audience at the 10th annual hedge fund symposium sponsored by Institutional […]
United Nations Secretary-General Ban Ki-moon has encouraged the Iraqi Government to act quickly to fulfil its obligations to find Kuwaiti or third country nationals, property and archives lost in Saddam Hussein’s invasion of Kuwait more than 20 years ago. In his latest report to the Security Council on the subject, Mr. Ban says that the […]
The Chairman of Basra Investment Commission has called on Korean companies to study the city’s investment map and consider th opportunity to build 80,000 housing units in the city. The issue had been discussed in a meeting between Haider Ali Fadhel and Basra Governor, Khalaf Abdul-Samad, with the South-Korean Ambassador to Baghdad and his delegation […]
Lanco Infratech Ltd. (LANCI) of India signed an $81.3 million contract to build a gas-fired, 250-MW power station in western Iraq. Masaab Serri, an Electricity Ministry spokesman, told Bloomberg that the company is scheduled to build the plant within 16 months in Al-Qaim, in Anbar province in western Iraq, using natural gas from the nearby […]
Aswat al-Iraq reports that a Ministry of Oil geological team has arrived in the Ain Tamr area of Karbala [Kerbala] to explore for oil. Ain Tamr's local government official Mahfoudh Satai told the news agency that "there were many oil wells discovered 1970s that have not been fully excavated." Karbala's local government asked the Ministry […]
ShaMaran Petroleum, the Kurdistan focused oil development and exploration vehicle, has announced that the company has been approved for trading of its common shares on the First North list of NASDAQ OMX Stockholm (“First North”). The company’s common shares commenced trading on First North at the market opening on June 22, 2011, under the symbol […]
