German Company to Inspect Iraqi Imports
The Iraqi Ministry of Planning has reportedly signed a technical contract with a German company to inspect imports into Iraq. The Ministry said that the aim of the contract is "to limit the importation of bad goods or expired commodities and foodstuffs". According to a report from Aswat al-Iraq, the contract was signed with the […]
Iraq Makes no Purchase in 50,000 ton Wheat Tender
The Iraqi Ministry for Trade has made no purchase in a tender for at least 50,000 tonnes of wheat, according to a report from Reuters. The tender for wheat of any origin had closed on 1st October, with offers having to stay valid until 5th October. A source at the trade ministry gave no reason […]
Iran's Ahmadinejad May Visit Iraq Soon
Tehran Times reports that Iranian President Mahmoud Ahmadinejad will visit Iraq in the near future. In an interview with the Persian service of the Mehr News Agency on Sunday, the Iranian Ambassador to Iraq, Hassan Danaiifar, also said that the commander of the Islamic Revolution Guards Corps (IRGC) Naval Force, Rear Admiral Ali Fadavi, will […]
DAMAC Strengthens its Presence in Iraq
Dubai's DAMAC Properties has signed a memorandum of understanding with the Iraqi Minister for Construction and Housing on the final day of Cityscape Global 2012. The region’s largest private luxury developer already has two plots of land in Baghdad that was previously bought from the private sector and is currently developing designs with the projects […]
USAID Microfinance Conference in Erbil
The USAID-Tijara Provincial Economic Growth Program in cooperation with Iraq’s 12 microfinance institutions and Iraqi Microfinance Network will hold an Inclusive Financial Services Stakeholders Conference at Hotel Rotana, Erbil, on October 23 and 24, 2012. The theme of this year’s conference will be “Iraqi Microfinance - The Path to Economic and Social Advancement”. The conference […]
KOGAS wins $127m Iraqi Pipeline Project
By John Lee. Korea’s state-run Korea Gas Corporation (KOGAS) has won a $127m contract to build a 110-kilometer pipeline linking the Iraqi cities of Kirkuk and Baiji. The company said it will sign the contract with Iraq’s state-run Oil Pipelines Company (OPC) this month. KOGAS was selected as the preferred builder in a process that had eight […]
Iraq may Sign $5bn Defence Contract with Russia
By John Lee. Russia's Pravda reports that Iraq may be about to buy $5 billion worth of MiG fighter jets, Russian helicopters, anti-aircraft missile systems, armored vehicles and other weapons. Between 2008 and 2011 Baghdad purchased Russian weapons worth $246 million dollars, most of which were helicopters. In the same period, deliveries of weapons and […]
Iraq "Won’t Pay Kuwait Before Airline Lawsuit Dropped"
By John Lee. According to the general secretary of the Iraqi Cabinet, Ali al-Allaq, Iraq will not pay compensation to Kuwait Airways for a debt dispute before Kuwait drops legal claims against Iraqi Airways. Under an agreement reached in March, the two countries decided that Kuwait would abandon all lawsuits against Iraqi Airways in return […]
US, Iraq Sign Agreement to Improve Access to Justice
By John Lee. On October 4, 2012, the United States government, through the U.S. Agency for International Development (USAID), signed a memorandum of understanding (MOU) with Iraq’s Council of Representatives (COR) to launch a joint program to improve access to the Iraqi legal system for vulnerable and disadvantaged populations. The signing ceremony was attended by […]
Genel Still Pumping as KRG Receives Baghdad Payment
By John Lee. Genel Energy has said it that it will continue shipping crude oil from Iraqi Kurdistan, following confirmation from the KRG that it has finally received an initial payment from Baghdad. Despite Iraq's finance ministry issuing an initial payment early last week, by Friday the funds had still not landed in the KRG account, […]
New Air Arabia Route to Erbil
Low-cost airline Air Arabia has announced the launch of services to Erbil, its second destination in Iraq. Flights to the Iraqi city will commence on October 14th, marking Air Arabia’s 76th destination worldwide. The carrier will offer four weekly services between Sharjah and Erbil. On Mondays, Fridays and Sundays, flights depart from Sharjah International Airport […]
Universal Pensions the Key to Iraqi Economic Woes?
By Shwan Zulal. 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. How will I support myself in my old age? People ask this question all around the world. One Kurdish writer argues that a universal pension scheme […]