What's Your Advice to Iraq?
If you're a regular reader of Iraq Business News, you'll know all about the huge opportunities in sectors such as oil and gas, mining, housing, and electricity. You'll also be aware of the sorts of challenges facing the country. But if you could change just three things about Iraq, what would they be? What three […]
40,000 Houses to be Built in Karbala
By John Lee. The National Investment Commission (NIC) has announced its intention to sign a contract with the local government of Karbala province to build 40,000 houses. NIC Chairman Sami al-Araji (pictured) said the housing complex (Thifaf Karbala), will be built by the UAE-based Bloom Properties, and is expected to be completed within eights years. (Source: […]
US, Iraqi Govts Work for Business-Friendly Environment
The U.S. Embassy, through the U.S. Agency for International Development (USAID) and working with the Government of Iraq (GOI) and private sector leaders, has launched the second phase of the Iraqi Solutions for Administrative and Regulatory Reform (ISRAR) project at Nahrain University. The Chairman of the Prime Minister’s Advisory Council Dr. Thamer Al Ghadhban, and […]
Weekly Security Update
By Tom Walker, Director, Assaye Risk. (Please click on graphics to view.) COUNTRY OVERVIEW The reporting week ended on a somewhat wretched note with the news that Baghdad had witnessed heightened levels of violence with the reported deaths of at least 52 people and approx. 108 wounded, however it is difficult to gauge […]
Second Attack on Baiji-Nineveh Pipeline
By John Lee. A second bomb blast has set fire to a pipeline carrying fuel oil from Beiji [Bayji, Baiji] refinery (pictured) to Nineveh province, reports Reuters on Wednesday. A similar attack on Saturday disabled the 16-inch pipeline, which is used to transport fuel oil. "Terrorists placed bombs and landmines around the location of the […]
New Oil Find in Iraqi Kurdistan
Gulf Keystone notes today's update by MOL Hungarian Oil and Gas Plc., the operator of the Akri-Bijeel Block in the Kurdistan Region of Iraq (in which Gulf Keystone has a 20 per cent working interest), on its extensive exploration and appraisal programme. Bakrman-1 Exploration Well Discovery Bakrman-1, the first exploration well to target the Bakrman […]
Cabinet OKs Iran-Syria Pipelines
By John Lee. Iraq's Cabinet has authorized the Oil Ministry "to sign an agreement of principles" on two key oil and natural gas pipeline projects, reports Platts. The agreement will be between the Iraqi Oil Ministry, the Iranian Oil Ministry, and the Syrian Oil and Mineral Resources Ministry, and it relates to the construction of […]
German IT Firm to Expand Iraq Operations
By John Lee. Germany's largest company and the world's leading business software company has announced it is ramping up operations in Iraq, according to Gulf Daily News. The managing director of SAP Middle East North Africa, Sam Alkharrat (pictured), told the newspaper: "Iraq is an exciting market for SAP ... This is a country where IT […]
Most Iraqis Unaware Of Insurance Rights
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. Few Iraqis are confident that their lives on the roadways are insured. In the event that they are in a traffic accident, they will receive appropriate compensation with no need to […]
Zain Iraq Plans IPO by July
John Lee. Zain Iraq's Chief Financial Officer, Wael Ghanayem (pictured), has told Bloomberg that the company plans to list 25 percent of its shares on the Iraq Stock Exchange (ISX) by the end of June. But Geoffrey Batt, managing director of the $44 million Euphrates Iraq Fund, told the news agency: “A more realistic estimate is […]
L-3 Wins F-16 Simulator Contract
L-3 Communications (NYSE: LLL) has announced that its Link Simulation & Training (L-3 Link) division has been awarded a contract from the U.S. Air Force Life Cycle Management Center at Wright-Patterson Air Force Base near Dayton, Ohio, to build two F-16 Block 52 Full Mission Trainers (FMTs) for the Iraqi Air Force. “L-3 is focused […]
Iraq Restores Historic Ottoman Site
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. At the restoration site of the Ottoman governor’s headquarters, known as Qishla, near the Tigris River in Baghdad, Iraqi journalist Imad al-Khafaji says, “I feel, as the work proceeds, that we […]