President Barzani Welcomes French Business Delegation
The Kurdistan Region President and Prime Minister last week met with France’s Ambassador to Iraq, Mr Gauer Denys, and a French business delegation representing major French companies and business associations. In his meeting with the delegation, President Masoud Barzani said that the Kurdistan Region is eager to enhance economic relations with French companies and thanked […]
Baghdad, Moscow Get Closer: Business Opportunity Or Conspiracy?
By Amir Hassan Fayad. 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. Iraq and Russia have been getting cosy lately with high ranking visitors and multi-billion dollar arms deals. Is this friendship just a business opportunity? Related […]
Gas Flaring Costs Iraq $5m a Day
By John Lee. Azzaman reports that the flaring of associated gas from the country’s producing oil fields, particularly in Basra, is costing the country $5 million a day. But there is good news, according to Dhia al-Mawsawi, the Director-General of South Oil Company, who said there should be no flaring of gas in Basra by […]
Iraq Industrial Sector Attracts Growing Investment
By John Lee. Private investment in Iraq's industrial sector is expected to reach $7 billion this year, up from $3 billion in 2011, reports Reuters. Adel Karim, the deputy industry minister, told the news agency that the country is reaping the rewards of opening up its financial and industrial sectors and luring foreign investment and […]
Prime Minister Opens Hilla Gas Power Station
By John Lee. Prime Minister Nuri al-Maliki has inaugurated the new Hilla gas-powered electricity station in Babil province. Ministry of Electricity spokesman Musab Al-Mudarris said that the station's total power is 250 MW, using two 125-MW GE generators. The project was carried out by the Al-Hurra International company at a cost of $84 million, under […]
Dubai's DAMAC in New Iraqi Deal
DAMAC Properties has announced the signing of a memorandum of understanding (MoU) with Al Fao General Engineering Company a subsidiary company of the Iraqi Ministry of Housing and Construction to further develop projects in Iraq. The agreement was reached during a high-level visit to the Iraqi capital Baghdad where DAMAC Executives met with the Minister […]
Federal Budget to Include Loans for Industrialists
By John Lee. A member of the Parliamentary Economy and Investment Committee has told AIN news agency that the 2013 federal budget will include low-interest loans for the industrialists. MP Abdul Hussein Abtan said: "The industrial sector needs such projects because it needs money and support after the embargo imposed on the country during the […]
Number of Iraqi Students in the USA Growing
The United States Embassy in Baghdad is pleased to announce a 71% increase in the number of Iraqi graduate students and a 31% increase in the total number of Iraqi students who studied in the United States in the 2011-2012 academic year over the previous year. According to the Open Doors Report on International Educational […]
Why Iraq’s Ration Card Can’t be Scrapped
By Hassan Latif al-Zubaidi. 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. It’s not the first time the Iraqi government has tried to abolish the ration card system. And it won’t be the last. Kufa University’s Hassan […]
KRG and UK Discuss Closer Relations
A senior delegation from the Kurdistan Regional Government discussed ways to further strengthen bilateral relations with the UK at a meeting with Britain's Minister for the Middle East, Alistair Burt. Falah Mustafa Bakir, Head of the KRG Department of Foreign Relations, and Professor Serwan Baban, Minister of Agriculture and Water Resources, met Mr Burt while […]
Total Says Unclear if Iraq Wants it to Exit Halfaya
By John Lee. The chief executive of French energy giant Total, Christophe de Margerie (pictured), has said that it is not clear if Iraq wants the company to withdraw from the Halfaya oilfield due to its dealings in Iraqi Kurdistan. Total recently acquired a 20 percent interest in the Taza oil exploration block there from […]
Video: Shahristani on Oil Market, Production Outlook
Iraqi Deputy Prime Minister for Energy Hussain Shahristani speaks to Reuters about crude production in the country and the global oil market outlook. (Source: Reuters)