Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
Oil Minister Hussein al-Shahristani has signed a Memorandum of Understanding on strategic cooperation in oil and gas field with his Syrian counterpart Sufian Allaw, according to Syrian news agency (SANA). “In the presence of Prime Minister Nouri al-Maliki and his Syrian counterpart, Naji Otri, a Memorandum of Understanding on strategic cooperation in the field of […]
Federal authorities say a U.S. Army engineer took hundreds of thousands of dollars in bribes for funneling Iraq reconstruction contracts to friends, building a $1.1 million mansion with the proceeds. John Alfy Salama Markus, 38, was arrested at his home on Wednesday and charged in New Jersey with money laundering and conspiracy to commit bribery […]
The foundation stone for a project to build 1,000 housing units for the Political Prisoners Association in Basra for was laid on Thursday, according to the PPA chief. “The implementation of this project in Basra mirrors the central government’s care for political prisoners and recognises their sacrifices under the former regime,” Jassem Muhammad Jaafar said […]
Delays in the Nabucco gas pipeline project, which re reported on in recent days, are not a problem because there has been a dip in European gas demand due to the economic downturn, the chief executive of shareholder OMV said on Tuesday at the Reuters Central European Investment Summit in Vienna. The 7.9 billion euro […]
An Italian company is planning to build a new shopping mall in Basra, a source from the Basra local council said on Tuesday. “A delegation from the company, which belongs to the Italian energy giant ENI, held a meeting with Basra's governor and a number of local officials to discuss the establishment of a large […]
Gavin Jones, Director of Iraq Business News, and Partner at consultancy firm Upper Quartile, was recently interviewed by Iraq's Radio Dijla. The full transcript is shown below: Radio Dijla: How do foreign investors look at the Iraqi market today? Gavin Jones: There are three main reasons for foreign investors committing to a market – a […]
The British Iraqi Friendship Society (BIFS) will host its Annual Gala Dinner and charity auction at the Royal Garden Hotel, London, on 17 November. BIFS was founded to inform the British public about all aspects of Iraqi life and culture, including its history, heritage, arts, language and traditions. The society organises a programme of events […]
The Vice President of the Basra provincial council said on Friday that the visit of the U.S Deputy Defense Secretary to Iraq came to discuss the issue of attracting the foreign companies to work in Basra, according to a report from AKnews. "An extended meeting between the U.S Deputy Defense Secretary and a number of […]
Two investment licenses have been granted to a Lebanese company to establish two residential compounds in the north of Amara, the chairman of the Maysan Investment Commission said on Monday. “MIC granted an investment license to Lebanon’s Home International Corp. to build 700 housing units in Ali al-Gharbi district, north of Amara, at a cost […]
Iraq is to get new power plants in order to boost its energy capacity by 2,500 megawatts, reports Reuters. This will significantly add to its meagre total current production, which is around 5,500 megwatts. All the contracts for the 20 gas turbines, which were bought from General Electric, have been awarded to three Turkish companies. The contracts are […]
American companies should invest in Iraq now to avoid losing out on opportunities to other international firms, Under Secretary of Commerce Francisco Sanchez said during a trade mission to Iraq. According to the report in Reuters, he urged corporate leaders to hurry while acknowledging that security concerns remained high. "The time is now. I think […]
An estimated 7,000 km (4,400 miles) of new pipeline will need to be built in Iraq if the country is to meet its oil export targets, according to Penspen Group Chief Executive David Stanley. According to a report from Pipelines International, Mr Stanley underlined the need to repair and reinforce Iraq’s two existing major export […]
