India-Iraq Friendship to be of "Equity Partners"
India is looking forward to further strengthening its relations with Iraq as an "equity partner" in areas like oil exploration and petrochemicals, the country's President, Pranab Mukherjee, said on Friday. Speaking during the visit of Iraqi Prime Minister Nouri al-Maliki, the President added: "Iraq has become India's second largest crude oil supplier. This is a […]
Initiative to Improve Business Registration
On Thursday August 22, the Ministry of Trade (‘Ministry’) in cooperation with the Federation of Chambers of Commerce (‘Federation’) launched Iraq’s first “One Stop Shop” for company registration. The Ministry of Trade was represented at the event by Deputy Minister Waleed Habeeb Al-Mosawy; the Federation was represented by Secretary General Abdulhuessein Almubaraka. The U.S. Embassy […]
Consul General Promotes Opportunities in Iraq
In an interview with The Arab American News, Al Manhal Al Safi, the Iraqi Consul General in Detroit, said: “You don’t see it on television, but, actually, people are traveling to Iraq, people are building new houses...You won’t see that it’s normal in the media, but when there is a car bomb, or whatever, they […]
Voter's Revolution in Ninawa
By Abdullah Salem. 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. Voter's Revolution in Ninawa: Local Minorities take over Provincial Govt Local elections in the troubled northern state of Ninawa have seen the provincial council dominated by […]
Exxon to Sell West Qurna Stake
Reuters reports that Exxon Mobil is selling part of its stake in the West Qurna-1 oilfield to PetroChina and Indonesia's Pertamina. Oil Ministers Abdul Kareem Luaibi [Elaibi] told the news agency that 25 percent will go to PetroChina and 10 percent to Pertamina. He added that the deal would be done "maybe after two to […]
Afren Updates on Kurdistan Operations
By John Lee. As part of its half-year results, Afren has issued the following update on its operations in Iraqi Kurdistan: Barda Rash Approximately 18,800 barrels of oil were held in storage during 1H 2013. Preliminary crude oil sales to the local market have commenced with initial sales of 1,300 bopd achieved since 8 July […]
WesternZagros Plunges on Kurdamir Results
By John Lee. Shares in WesternZagros Resources closed 27 percent down on Wednesday following what the company described as "unexpected results" from its Kurdamir-3 well. The company has completed the first two drill stem tests (DST #1 and DST #2) on the Kurdamir-3 well in the Kurdistan Region of Iraq. The first Kurdamir-3 test, DST […]
Money Laundering Estimated "in the Billions"
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. Political and economic Iraqi circles confirm the presence of extensive money-laundering operations in Iraq. Weak monitoring systems and political conflicts of interest, however, prevent the exposure of these operations. These same […]
UK to Engage in Syrian Refugee Crisis
Today Minister Falah Mustafa received a delegation from Department for International Development (DFID) to establish a mechanism for their support towards the Syrian refugees in Kurdistan Region. DFID currently has working teams in Jordan, Lebanon and in London to provide humanitarian assistance. They also provided assistance to the Kurdish people in 1991 following the creation […]
Video: Syrian Refugees Arrive in Iraq
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Syrian Kurds continue to come across the border into northern Iraq. Some 31 thousand have made the journey since the border was opened on Thursday of last week. They are being housed in […]
Maliki Heads to India for Investment
Prime Minister Nouri al-Maliki is to visit India on Thursday to push for investment in reconstruction, reports AFP. The four-day trip to New Delhi and Mumbai, with a delegation of ministers and business leaders, follows the visit of India Oil Minister M Veerappa Moily to Baghdad last month. But the prospects of luring foreign investment to […]
Qatar Airways Launches 5th Iraqi Destination
Qatar Airways launched flights on Wednesday to its fifth destination in the Republic of Iraq, Sulaymaniyah, increasing the airline’s frequency across Iraq from 16 to 20 flights each week. The new services, which will operate four-times-a-week non-stop from the airline’s Doha hub, brings the carrier’s global network to 129 destinations worldwide. The Doha – Sulaymaniyah route […]