Missan to Get New Power Station
By John Lee. AIN reports that Iraq has approved the construction of a new power station in Maysan province. The head of the Provincial Council, Abdul Hussein Abdul Reda, said that the country’s Ministry of Planning had approved a scheme to build a station of between 200 and 250 Megawatts. Iraq’s Ministry of Oil and […]
Atlasjet Plans Iraq Subsidiary
By John Lee. Atlasjet Airlines has confirmed further details of its plans to launch new subsidiaries in Iraq and South Sudan later this year. According to the managing director of Zagros Air (Iraq), Can Akcay, Atlasjet's joint venture carrier with Zagros Group plans to launch operations from Erbil in spring with three Airbus aircraft after […]
Iraqi Kurdistan Considers Lebanese Trade Ties
By John Lee. A business delegation from Iraqi Kurdistan considered strengthening economic ties with Lebanon’s second-biggest city Tripoli. “Iraqi Kurdistan is seeing an economic boom and we hope that Lebanese businessmen continue to benefit from facilities offered by the regional government,” head of the Tripoli Chamber of Commerce Tawfik Daboussi said. Former Iraqi Trade Minister […]
Iraq Warns KRG Over Oil Exports to Turkey
By John Lee. Iraqi Oil Minister Abdul Kareem Luaibi [Elaibi] has issued a stern warning to the KRG over their attempts to export large quantities of crude oil to Turkey, describing it as "a red line". "The Kurds are under obligation to ferry all the oil they produce to the national export systems," said the […]
Qatar Airways Expands Network In Iraq
Qatar Airways has introduced its latest gateway in the Republic of Iraq with the launch of scheduled flights to the central city of Najaf. Following its move into Iraq six months ago with the start of flights to both the capital Baghdad and Erbil, the Doha-based airline has inaugurated new services to its third city […]
New Sri Lankan Ambassador to Iraq
By John Lee. Foreign Minister Hoshyar Zebari has received the credentials of Mr. Somit Nakindla the new Ambassador accredited to the Republic of Sri Lanka in Iraq. The Minister welcomed the guest and stressed the importance of developing and relations between the two countries, and expressed the ministry's readiness to provide support for the success […]
Erbil International Airport Wins Int'l Award
An international jury at the Emerging Markets Airport Show in Dubai has voted Erbil International Airport the best airport amongst emerging market airports with less than five million passengers per annum, across Africa, the Middle East and Asia. Citing the exceptional growth, 53% in 2012, in passenger numbers to 947,400, and 54% in cargo tonnage, […]
Progress on Visas
It's always good to see progress. The United Kingdom has finally opened its visa application centre in Baghdad, making it much easier for Iraqis to enter the UK for tourism, to meet friends and family, or to do business. At Iraq Business News we have expressed our concerns about the problem of visas in the […]
Exxon Must Choose: Southern Iraq or Kurdistan
By John Lee. Iraq has again told Exxon Mobil that it must choose between working in its southern oilfields or in Kurdistan. Reuters reports that Oil Minister Abdul Kareem Luaibi [Elaibi] expects the company to make a final decision within a few days, adding: "We made it clear to Exxon in the last meeting that the […]
Asiacell IPO "Fully Booked"
By John Lee. Asiacell’s share sale has been fully subscribed before its closing date, according to the IPO’s organizer. Shwan Ibrahim Taha, chairman of Rabee Securities, confirmed to Bloomberg News: "The offering is now comfortably covered with a good mix of retail and institutional demand from within Iraq as well as institutional and high net […]
UK Opens New Visa Centre in Baghdad
The British Minister for Trade and Investment, Lord Green of Hurstpierpoint, officially opened the new Visa Application Centre in Baghdad along with the Foreign Minister of Iraq, His Excellency Hoshyar Zebari. For the first time, members of the Iraqi public are now able to apply for UK visas from Baghdad. In comments made at the […]
New Background Paper on Iraqi Budget
By John Lee. The United Nations' Joint Analysis Policy Unit (JAPU) has issued a background paper on Iraq's budget for 2013. The Government expenditure for 2013 totals IQD 138.4 Trillion ($ 118.3 Billion), with an increase of 18% over 2012 and exceeding 70% of GDP. The budget has three main headings: Energy, Security / Defense […]