Weekly Security Update 21-27 Jan 2014
By Constellis Consulting www.constellis-consulting.com. Clashes in rural districts of Anbar province and shelling on the cities of Fallujah and Ramadi continued to fuel Iraq’s cycle of violence, whilst over 140,000 civilians have reportedly fled their homes since the outbreak of the crisis in December 2013, in the most important displacement of population since 2006-2008. Although […]
Veolia wins $115m Desalination Contract
The Iraqi Ministry for Municipalities and Public Works has chosen Veolia to build and operate for five years a desalination plant in Basra, Iraq. For Veolia, this contract represents cumulated sales of $115 million. Limited water resources and conflict over its use have made water a crucial resource for Iraq's development, especially in the country's […]
New State-Funded Investment Bank
By John Lee. Iraq plans to establish a state-funded investment bank to help finance major infrastructure projects and steer money towards private sector companies. Sami Al Araji, chairman of the National Investment Commission (NIC), told Reuters: “We need this [state-funded investment bank] to push forward the economy ... Our existing commercial banks do not have […]
US Embassy Officials Talk Franchising
The Embassy’s Commercial and Economic Sections and the U.S. Department of Commerce’s CLDP (Commercial Law Development Program), in association with the National Investment Council (NIC), hosted a seminar on "Developing Franchise Opportunities in Iraq" on January 22. The program represents a joint initiative to expand US -Iraq business engagement through franchising. The Iraqi Chamber of […]
Launching the "National Teacher Training Strategy"
Launching the "National Teacher Training Strategy": The main step towards educational innovation in Iraq After months of studies and continuous consultations, UNESCO officials and main stakeholders from the government of Iraq met in Baghdad to announce the launch of the "National Teacher Training Strategy"; another technical revelation in the process of driving teacher education and […]
Iraq, Iran Plot Oil Revolution, Challenge Saudi
By John Lee. Iraq and Iran, which together hold more oil reserves than Saudi Arabia, are planning to challenge Saudi Arabia's grip on OPEC and its status as the "swing producer" in the cartel, according to a report from The Telegraph. With Iraq poised to triple its capacity to 9 million bpd by 2020, the result […]
Arabtec to Expand to Iraq
Arabtec Holding PJSC has announced its intention to open an office in the Iraqi capital, Bagdad, to capitalize on the country’s high potential, particularly in oil and gas and infrastructure. The opening of Arabtec’s office in Baghdad to facilitate the company’s planned growth in the Iraqi Market is in line with the Company’s business growth […]
Elections Commission Assigns Electoral Ticket Numbers
By Reidar Visser. The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraqi electoral commission (IHEC) today held a lottery for electoral […]
VP of the German Bundestag meets KRG
Claudia Roth, who is the Vice-President of the German Bundestag as well as a member of Germany’s Green Party, met with the Head of the KRG Department of Foreign Relations (DFR), Minister Falah Mustafa to discuss areas of mutual concern and bilateral relations. The Ambassador of the Federal Republic of Germany, Brita Wagener, the German […]
Bulgaria to Open Consulate in Erbil
By John Lee. Bulgaria's government has decided to open a consulate in Erbil, according to a report from Sofia News Agency. In the beginning of 2013, Bulgaria reopened its embassy in Baghdad, which had been closed since 2003. (Source: Sofia News Agency)
Afren Expects Resource Upgrade
By John Lee. Shares in Afren rose by more than 5 percent on Tuesday morning following a positive trading update. The company made the following statement on its operations in Iraqi Kurdistan: On the Ain Sifni block in Kurdistan, following the world class discovery with the Simrit-2 exploration well 1,509 feet of net oil pay […]
Oryx Updates on Kurdistan Operations
By John Lee. Oryx Petroleum has announced an update on its drilling activities at Banan and Demir Dagh in the Hawler license area in the Kurdistan Region of Iraq. The company the operator and has a 65 percent participating and working interest in the Hawler license area. Commenting today, Henry Legarre (pictured), Oryx Petroleum’s Chief […]