Erbil to Haji Omaran Road Slashes Driving Time
The KRG's Ministry of Housing and Reconstruction is currently building a dual carriageway connecting Erbil to Haji Omaran. Parts of the road, which include tunnels and bridges, do not pass through the old path known as Hamilton Road. After the project is completed, the road between Erbil and Haji Omaran will become a dual carriageway. […]
Dragon Oil Completes Environmental Assessment
By John Lee. In a Trading Statement on Tuesday, Dragon Oil gave the following update on its operations in Iraq: In Iraq, the consortium of Dragon Oil (30%) and Kuwait Energy Corporation (70% and operator) is drilling an exploration well. The well is targeting two prospective reservoirs, which, in case of a discovery, are expected […]
Ergil Completes DNO Summail Contract
By John Lee. Turkish engineering company Ergil has announced that it has successfully completed manufacturing of storage tanks and storage tank equipment for DNO’s Summail Gas Project -- the first gas field developed by DNO in the Kurdistan Region. The scope of the order included supply of insulated amine storage tank, teg storage tank, portable […]
TruckZone Appointed Distributor for Renault Trucks
By John Lee. TruckZone General Trading has been appointed sole distributor for Renault trucks in Iraqi Kurdistan. The company, a division of CarZone Trading Agencies, is currently also the agent for Nissan throughout Iraq. From its base in Erbil it will have full facilities to handle sales, servicing and parts for the full range of […]
No Official Word on Kurdish Freight Ban
By John Lee. A spokesman for Erbil International Airport has told Iraq Business News that there has been no official instruction from Baghdad regarding the blocking of freight flights to airports in Iraqi Kurdistan, but added that there have been emails to airlines confirming that this is the case. "The irony is," said Andrew Jones, […]
Lebanese Exports hit by Iraq Crisis
By John Lee. Fadi Abboud, the former head of the Lebanese industrialists association, has told The Daily Star that Lebanon’s total exports to Iraq will see a sharp decline over the coming months due to the deteriorating security situation in the country. Adding that Iraq is the fifth-largest recipient of Lebanese products, he said that […]
Iraqi Minorities Victims of Sectarian Conflict
By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The continuing conflict between Sunnis and Shiites has caused significant negative effects on minorities in Iraq. During the recent setback, many Christian areas have fallen under the control of the Islamic State (IS, formerly […]
Weekly Security Update, 08 - 14 July 2014
By Anne-Laure Barbosa at Constellis Consulting On 15 July, Iraqi MPs took the first formal step toward forming a new government, by electing Salim al-Juburi, a Sunni lawmaker, as the new speaker of parliament. Negotiations between the main parliamentary blocs had been in gridlock since the April elections failed to produce a majority, with sessions adjourned […]
Malaysian Co eyes Helicopter Charter Market
By John Lee. Malaysia's Weststar Aviation Services is looking to tap the helicopter charter market in Iraq, according to a report from Astro Awani. Weststar group managing director and owner of Westar Aviation, Tan Sri Syed Azman Syed Ibrahim, said the company was planning to enter the market as early as next year and will […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th July 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,502 (-1.1%)/ $1,604 (-1.0%) (weekly change) (-19.5% and -19.2% YTD change, respectively). The number of week traded shares […]
Iraq Blocks Kurdistan Flights
By John Lee. Cargo flights to and from Erbil and Sulaimanya [Slemani] have reportedly been suspended. A spokesman for Emirates SkyCargo told Lloyd’s Loading List that the airline’s freighter flights to and from Erbil “have been temporarily suspended at the request of the Iraqi Civil Aviation Authority. However, Emirates [passenger] flights are operating as per […]
New Delay in Forming Govt
By John Lee. The Iraqi parliament has again failed to break a political deadlock on the formation of a new government, reports Reuters. After a brief session on Sunday, parliamentary officials postponed efforts to reach agreement until Tuesday. Prime Minister Nuri al-Maliki (pictured) is seeking a third term but faces opposition from Sunnis, Kurds, and […]