Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
The Arab League announced on Wednesday that its members have agreed to postpone its summit, scheduled for May 11 in Baghdad, amid disputes over the venue and popular unrest rocking the region. Arab foreign ministers will meet on May 15 to set a new date, Egypt's state news agency MENA quoted the deputy secretary-general of […]
Renault GCC has announced that United Trading Automobile Company (UTAC), a new joint venture company formed by Mr. Khalil Abdel-Wahab Al Bunnia and partners has been appointed as the official distributor of Renault passenger cars and light commercial vehicles in Iraq. The joint venture partnership is formed from a tight triangular partnership between Al Bunnia […]
The director general of the Bashmakh border crossing in Kurdistan said the crossing will be closed down until Friday following a request by the Islamic Republic of Iran. Some Kurdish news websites reported that the border between Kurdistan and Iran will be closed due to a visit by Iranian President Mahmoud Ahmadinejad to Kurdistan. Mohammed […]
The Iraqi Transport Ministry announced on Tuesday that it has reached agreement with Turkey to import modern train carriages costing about $9 million [11 billion Iraqi dinars]. The carriages currently used by Iraqi Railways to transport goods and passengers are old and unable to meet the requirements of commercial transport with the regional countries, according […]
Al-Anbar received 150 billion Iraqi Dinars [$125 million] in revenues from its border crossings in the year 2010, according to the chairman of provincial council’s investment commission. “The sum of 150 billion dinars was received in returns from the three border outlets of Turaybeel [Tirbil, Tarbiel] (pictured), al-Tanaf and Arrar for 2010 and was transferred […]
The Iraqi Parliament’s Foreign Relations Committee has met with the Japanese Charge d’affaires in Baghdad on Monday, to discuss developing bilateral relations between the two countries. “The Parliament’s Foreign Relations Committee received the Japanese Charge d’affaires, Katsuhiko Takahashi, with whom it discussed the bilateral relations between both countries and means to develop them and to […]
The Armenian ambassador, Murad Muradian, visited the Basra Investment Commission (BIC) and discussed investment in Basra. He said that," we are willing to invest in Basra for it represents Iraq's most important city and its only port as well as its stable security and economical situation". He also revealed a plan to provide Iraq with […]
The National Investment Commission in Iraq has decided new regulations to decrease the use of foreign labor in Iraq, with the intention of providing more jobs for unemployed Iraqis. The following points were released by the NIC on Tuesday to clarify those regulations: The investor shall decide in advance the rate of the work force […]
The Czech Republic is planning to offer Iraq a number of light attack aircraft and help Baghdad to modernize its helicopter fleet, Czech Foreign Minister Karel Schwarzenberg said, according to a report from the Russian news agency RIA Novosti. Czech Prime Minister Petr Necas will visit Iraq on May 23-24 to promote closer economic cooperation […]
The British Consul General in Basra, Richard Wood, visited Basra Investment Commission (BIC) on Tuesday and discussed how best to facilitate British investors entering the province. They also discussed some economic and investment issues, especially those related to the main obstacles facing investors. According to the BIC, Wood expressed his appreciation of the role of […]
Exporters looking to serve the Iraqi oil and gas industry might be interested in the guaranteed twice-weekly express road trailer services between Western Europe and Iraq recently launched by independent freight forwarder F.S. Mackenzie. F.S. Mackenzie says that the service, which caters for express groupage and part-loads, has been launched in response to increased business […]
Kuwait Airways will seek compensation from Iraq for having allegedly stolen its aviation equipment and 10 aircrafts worth $1.2 billion during the first Gulf war, according to a report from Al-Arabiya. A lawyer from the Airline is quoted as telling Iraq Oil Report that the company will seek to enforce a 2006 English Supreme Court […]
