First Kuwaiti flight to Iraq in 22 Years
Najaf Airport saw the landing of the first Kuwaiti passenger plane in 22 years on Tuesday, according to AKnews The Jazeera Airways Airbus 320 landed at 6pm carrying the ambassadors of the two countries. The low-fare airline is expected to operate two flights per week between the countries. The flight comes after the Iraqi Prime […]
German Industry Expo Opens in Erbil
The third annual German Industry and Trade Chamber exhibition in Erbil opened on Tuesday and will run for the next two days, according to AKnews. The products of German companies, which operate across Iraq in fields of automobiles, cosmetics, transportation and communications, will be on show. (Source: AKnews)
The Resource Curse: Will Ordinary Iraqis Ever See Their Oil Money?
Iraq is on the way to becoming one of the biggest oil exporters in the world. As a nation it earns billions. But many ordinary Iraqis live in poverty. Now calls for a direct cash payout to each citizen are getting louder, according to this article from NIQASH. Any opinions expressed are those of the […]
Afren Jumps on Kurdistan Oil Find
Shares in Afren jumped more than 10% in early trading, before falling back slightly, following the company's announcement that the high impact Simrit-2 exploration well, located on the Ain Sifni PSC in the Kurdistan region of Iraq, has discovered a significant oil accumulation based on the results of drilling, wireline logs and sidewall core sampling. […]
Iraq On Target for Record Oil Exports in April
Reuters reports that Iraq's oil exports from its southern ports have jumped by 190,000 barrels per day (bpd) in April, indicating that shipments are heading for another post-war record. Exports from the al-Basra oil terminal (ABOT), Khor al-Amaya, and the new single-point mooring (SPM) on the Gulf have averaged a combined 2.11 million bpd in […]
Bell Helicopters Wins $15m Contract in Iraq
Bell Helicopter, a Textron Inc. company (NYSE: TXT), was awarded a contract by US Army Contracting Command, Redstone Alabama for the procurement of contractor logistics support for 30 Bell 407 helicopters in service with the Iraqi Army. The award valued at more than $15 million allows Bell Helicopter to provide logistics support of 24 Bell […]
UAE to Provide Floating Power Plants in Basra
Iraq has signed a contract to buy 250 megawatts of electricity from UAE's Oilfield Services. Under the two-year deal, the company will provide two power plants docked on ships in Basra. The ships are expected to reach the port within a few weeks, and the plants will be connected to the grid by 31st July, […]
Sweden to Open Trade Offices in Kurdistan
AKnews reports that Sweden is planning to open trade offices in Erbil, as well as an institute to help Iraqis address unemployment, in an attempt to broaden trade relations with both the region and Iraq. The announcement came in a press conference for the Swedish Trade Minister Eva Björling who is in Erbil on a visit. […]
Video: Kurdistan - What and When to Buy
Malcolm Graham-Wood of VSA Capital answers some questions for investors in Kurdistan-focused oil companies:
Iraq to Order Eight Cargo Vessels
Iraq will offer contracts for the construction of eight cargo ships over the next four years in an effort to expand its fleet, reports Bloomberg. The government also expects to take delivery of a $14 million cargo vessel in the next two weeks. The vessel, built by the Avic Dingheng Shipbuilding Company of China, is […]
As Paul Bremmer Wanted Them To Be
The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. […]
Dunia Weekly Iraq Market Tracker
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]