ABB's Ventyx Wins Power Deal
Ventyx, an ABB company, has announced that it has signed an agreement with the Ministry of Electricity (MOE) in Iraq to provide state-of-the-art energy management systems that will help improve the availability, performance and reliability of power supplies in Iraq from main control centers in Baghdad, Kirkuk and Basra. The agreement is part of a […]
Empire World "On Track" for 2017 Completion
The vast Empire World real estate development -- the largest such development in Iraq -- is a centerpiece of the KRG's continued emphasis on creating a business friendly environment, including a luxury hotel, a villa residential neighborhood, and a surfeit of turnkey office space, all in one sprawling complex. Slated for completion in 2017, the […]
Travelport Renews Iraq Agreement
Travelport, a "leading distribution services and e-commerce provider for the global travel industry", has announced the renewal of a multi-year distribution partnership with Rawat-Al Hajer for Travelport technology and services in Iraq. The renewal of the agreement comes after four successful years of partnership between Rawat-Al Hajer and Travelport. Through this period, Travelport has experienced rapid growth in […]
Abu Ghraib Prison Shut due to Security Fears
By John Lee. Iraq’s justice minister, Hassan al-Shimmari, said on Tuesday that the notorious Abu Ghraib prison just outside Baghdad has been shut due to unspecified security concerns. According to a report from Washington Times, the prison’s 2,400 inmates have been taken to other facilities across the country. Several months ago, rebel al Qaeda groups […]
Weekly Security Update 08 - 14 Apr 2014
By Constellis Consulting www.constellis-consulting.com Despite repeated claims that Muqtada al–Sadr will remain on the sidelines of politics with regard to the upcoming elections, the latter has multiplied public appearances, in a clear attempt to influence the voting. On 13 April, Sadr met with influential Shia cleric Ali Al-Sistani and released a joint statement condemning sectarianism and violence. […]
IDB Contributes $217m for Major Trade Corridor
Iraq’s Finance Minister, HE Dr. Safauddin Mohammed Al Safi, and the Acting President of the Islamic Development Bank (IDB), Dr. Abdul Aziz Al Hinai (pictured), have signed an agreement for $217 million to fund the construction of Expressway No. 1, a major trade-corridor connecting Iraq to its neighbouring countries. The signing was attended by HE […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th April 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,823 (+0.1%)/ $1,943 (+0.1%) (weekly change). The number of week traded shares was 14.4bn and the weekly trading […]
UN Reaffirms Support in Fight Against Corruption
The Special Representative of the United Nations Secretary-General (SRSG) Mr. Nickolay Mladenov (pictured) has reaffirmed UN support to Iraq in its fight against corruption. This came at the opening session of the Baghdad Second International Forum on Stolen Assets Recovery, which was organized by the Integrity Commission. “The UN is taking accountability, transparency and anti-corruption […]
Govt Submits Controversial Emergency Powers Bill
By Mushreq Abbas for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. On April 4, the Iraqi Council of Ministers endorsed the “national safety” bill, which regulates the state of emergency and defines the prime minister’s powers and the steps he can take during “emergency” measures, which […]
Bulgaria Strengthens Links with Kurdistan
The Bulgarian Deputy Minister of Economy and Energy, Krassin Dimitrov, visited the KRG Department of Foreign Relations today to brief officials about his visit to Kurdistan. He is leading a delegation comprised of officials from both the public and private sectors visiting Kurdistan. The Iraqi Council of Ministers approved the Bulgarian government’s request to open […]
Old Phones, Computers Threaten Public Health
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. E-Waste Comes to Karbala: Old Phones and Computers Threaten Public Health In the relatively prosperous city of Karbala, locals are used to buying cheap mobile phones, then simply throwing them out […]
ICTSI to Invest $130m in Port Deal
By John Lee. The Philippines-based International Container Terminal Services Inc (ICTSI) said on Thursday that it signed a contract with General Company for Ports of Iraq, agreeing to operate, develop and expand the Port of Umm Qasr. In a stock exchange filing, the company said the contract grants it the right to manage and operate […]