Iraq's New $6-trillion Energy Strategy
By John Lee. Iraq unveiled a new energy strategy on Wednesday that aims to raise $6 trillion from oil and gas sales by 2030 and massively increase local power generation, reports AFP. The Integrated National Energy Strategy (INES) would see Iraq invest $620 billion in the sector over nearly 20 years. Thamir Ghadhban (pictured), former […]
Emaar, Faruk to Build $2bn Resort at Dukan
By John Lee. Dubai-based Emaar Properties is expected to sign a contract worth over $2 billion with Kurdish company Faruk Group Holding to develop a resort in Sulaymaniyah. Herish Muharam Muhamad, chairman of Kurdistan Investment Board (KIB), said the Dukan tourist city project will include hotels, restaurants, residential areas, cinemas and casinos. Emaar last year signed […]
Hotel Construction Explodes In Erbil
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Taxi drivers in Erbil, the capital of the semi-autonomous Kurdistan region in northern Iraq, are keen to tell every non-Kurdish person they give a ride to that there are more hotels […]
Basra’s Miracle Flower Show
By Waheed Ghanim. 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. Basra’s Miracle Flower Show: Growing Petunias without Water In temperatures of over 50 degrees C, in a place where there is either no water or it’s […]
Iraq-Kuwait Relations Take a Step Forward
The official visit to Baghdad of Kuwait's prime minister, Sheikh Jaber Mubarak Al-Hamad Al-Sabah, appears to mark a significant development in the improving relations between the two countries. Following their meeting on Wednesday, officials from both sides signed a series of agreements relating to diplomacy, the economy, transport, culture, higher education and the environment. In […]
Designs Unveiled for New Baghdad Library
By John Lee. AMBS Architects has shown its designs for the first public library to be built in Iraq since the 1970s. The 45,000 m2 building will be located on a teardrop-shaped peninsula at the heart of the Youth City masterplan dedicated to supporting and inspiring young Iraqis. According to a report from Dezeen, the […]
Turkish Firms to Sell Electricity to Iraq
By John Lee. The Turkish Energy Market Regulatory Authority (EPDK) has approved the applications of two Turkish companies, Aksa and Kartet, to export electricity to Iraq. The two companies will have the "equal rights" to export power to the Mosul region of Iraq, using the existing 154 kilovolt (kV) PS3-Zakho power transmission line. They will […]
Japan to Lend $1.2bn to Iraq for Port, Refinery
By John Lee. Japan has offered a loans of about 120 billion yen ($1.24 billion) to Iraq to build a new refinery and rebuild a port. Nikkei reports that Japan will initially lend 82.7 billion yen to build a refinery to extract natural gas liquids at the Rumaila oil field, while a second loan of […]
New Electronic Food Voucher System
In a technical workshop held this week, the Government of Iraq and the UN World Food Programme (WFP) will discuss the potential introduction of electronic food vouchers in the Iraqi Public Distribution System (PDS). They will be joined by financial payments experts from MasterCard, the leading global technology and payments company, which, under a global […]
Weekly Security Update 06 - 12 June 2013
By Tom Walker, Director, Assaye Risk COUNTRY OVERVIEW In a week peppered with violence Iraqis continue to bear the brunt of heightened sectarian tensions and increased insurgent bombings as the country’s political elite continue to procrastinate and find little way forward. Bombing and fighting across the northern and central belts throughout the reporting has left […]
Northrop Grumman Wins $115m Contract
By John Lee. Northrop Grumman has reportedly won contracts worth $115 million to provide AN/APG-68 (V)9 radar systems (pictured) for Iraq and the Royal Thai Air Force. Twenty-two of the 38 systems, an upgrade targeting system for F-16 fighter jets, are destined for Iraq. Capital Gazette reports that the contract was awarded by the Air Force […]
BIOGH Masterplan Receives Planning Approval
BIOGH has announced that the Masterplan for the Basra International Oil and Gas Free Zone has been formally approved by the Consulting Bureau of the College of Engineering at the University of Basra, and by the Iraq General Commission for Free Zones. This planning approvals milestone represents an ongoing successful collaboration, notably with the efforts […]