Rotana Opens Second Hotel in Iraq
By John Lee. Hotel management company Rotana has opened its second property in Iraq. The Karbala Rayhaan is a five-star property in the tourist city of Karbala, which attracts more than 12 million visitors a year. Omer Kaddouri, executive vice president and chief operating officer, said: “In 2012 Iraq posted a GDP growth rate of […]
Petrojet wins Gas Pipeline Contract
By John Lee. Egypt's Petrojet has won a $100-million tender to design, supply and install the butane pipeline project from Nasiriyah to Khor Al-Zubair in Basra. Company boss Mohamed Shemy [Mohamed Shimy] said the project is to be completed within 18 months. According to a report from Egypt Independent, the company beat competition from Russia, […]
KRG President Barzani meets UK Trade Delegation
Ten members of the Iraq Britain Business Council's trade and education mission to Iraq met the President of the Kurdistan region, Massoud Barzani, at his residence North of Erbil on Wednesday (November 20th) The members, part of the biggest ever trade delegation to Baghdad and Erbil, were warmly welcomed by the President. The IBBC’s Executive […]
Chinese Firm Wins Badra Contract
By John Lee. Russia's Gazprom Neft has picked a contractor to drill six production wells in the Badra field in Iraq which it operates. China’s Zhongman Petroleum and Natural Gas Group Co., Ltd (ZPEC) has won the tender. The contract includes engineering, procurement and drilling of wells. Two rigs will start drilling in March 2014. […]
SPETCO eyes Iraq Expansion
By John Lee. Oil Review Middle East reports that the Kuwait-based Safwan Petroleum Technologies Company (SPETCO) has said that it is looking to expand its upstream oil and gas services in Iraq and Saudi Arabia. Anish Abraham, the company's manager of OFS/BD, told ORME that its specific attention in terms of marketing and distribution was […]
France's Orange sees Huge Growth in Iraq
By John Lee. French-based telecommunications company Orange has said that it expects rapid customer and revenue growth in Iraq, where it took a 20 percent stake in mobile operator Korek two years ago. Marc Rennard (pictured), the company's executive vice president for Africa, the Middle East and Asia, told Reuters: "We have just reached five […]
Lebanon Invests $3bn in Kurdish Region
By John Lee. Lebanese investments in Iraqi Kurdistan account for 10 percent of the total investments in the region, and will exceed $3 billion, reports Aswat Al Iraq. The Chairman of the Lebanese-Kurdish Friendship Association, Ali Adeeb, said that the Lebanese investors were the first to come to the Kurdish region, investing in construction, banking, […]
Basra "Threatens Autonomy"
By John Lee. Local authorities in Basra province have reportedly threatened to break away from the central government and create an autonomous region of their own. The idea was rekindled by MP Wail Abd al-Latif, who told Rudaw: “Efforts toward making Basra an autonomous region is a project and not a trump card against the […]
17k Tons of Iraqi Dates Exported
By John Lee. Aswat al-Iraq reports that an estimated 17.000 tons of dates were exported last month to Asian countries, and the exports are still continuing. Before the Iran-Iraq war, about 500,000 tons of dates are typically exported annually, but damage to the date plantations resulted decreased this figure. (Source: Aswat Al Iraq) (Dates image […]
PM Maliki Opens IBBC Conference
Iraq’s Prime Minister, Nouri Al Malki, was the special guest on the first day of the Iraq Britain Business Council’s six-day UK trade mission to Iraq. Mr Al Maliki officially opened the event, which was held at Baghdad’s Al Rasheed Hotel on Monday (November 18th). The event, jointly organised with United Kingdom Trade and Investment […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 14th November 2013). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,755 (-0.3%)/ $1,864 (-0.1%) (weekly change). The number of week traded shares was 4.2bn and the weekly trading […]
Kurdistan, Hungary Seek to Strengthen Relations
The State Secretary at the Ministry of Foreign Affairs of Hungary, Mr. Zsolt Nemeth, has received the Head of the KRG Department of Foreign Relations, Minister Falah Mustafa to discuss a number of issues including ways to further enhance mutual relations. The meeting was also attended by the Hungarian Ambassador to Iraq, Mr Tibor Szatmari. […]