Kuwait Energy Updates on Iraqi Operations
In its latest quarterly report, Kuwait Energy has issued an update on its Iraqi operations: The Iraqi Ministry of Oil announced its intention to offer 12 exploration blocks covering various locations in Iraq. Technical data for each block was made available for purchase in September 2011 along with a preliminary Exploration, Development and Production Service […]
Iranian Company to Develop Iraqi Railways
Iraq's Transport Ministry has agreed in principle to award the business to develop and maintain its damaged railway system to with 'Vadi Albar' company, reports AKnews. The agreement comes after extensive talks between the state-owned Railways Company and Vadi Albar in Iran about the revival of Iraq's railway system and the maintenance of 219 trains […]
Iraq Bourse Faces Challenge in Listing Telecom Firms
Foreign investors’ appetite for Iraq’s stock market is rising before planned IPOs by the country’s three mobile telephone operators, but the fledgling market’s small size means it may struggle to cope with the listings, according to a report from Gulf News. The Iraq Stock Exchange (ISX) is an outpost of private sector business in Iraq, […]
German Truck Maker MAN in $14m Iraq Venture
German truck and bus maker MAN has signed a $14 million [17 billion Iraqi dinar] deal with Iraqi firm Numoor Al-Bararry to manufacture commercial trucks in Baghdad, according to report from AKnews. Under the contract, the two companies will establish an assembly line and maintenance workshop, said Peter Mayr, managing director of Terramar Company, which […]
Foreign Companies to be 'Encouraged' to Hire Locals
The Iraqi government is to provide financial incentives for foreign companies to hire Iraqi workers, according to AKnews. The parliamentary committee for labor and services decided to reduce taxes and other 'not specified obligations' towards the Iraqi government, as well as to provide facilities to these companies. "The foreign companies can rely on their skilled […]
MP Reports Embezzlement in Najaf
There is a case of 'serious fraud' in a project intended for Najaf City, the Capital of Islamic Culture in 2012, an Iraqi MP has warned. Hussein Sharifi, a member of Tourism and Archeology Committee in parliament, told AKnews the case involved is the construction of a three-floor building for which 100 billion Iraqi dinars […]
Iraq and Germany Agree Economic Cooperation
Iraq and Germany have signed a memorandum of understanding (MuO) in Baghdad, commiting them to cooperate in areas of industry, trade, agriculture and transportation. The Iraqi Minister for Industry, Ahmed Dali, told a press conference following the signing of the protocol that the signing of the MuO will encourage more German companies to come to […]
More Federalism Chaos
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. […]
Mapping Violence in Iraq
Levels of violence crept up in Iraq over the past fortnight, but conditions have been generally quieter over the last four months when compared to earlier in the year. AKE has compiled maps showing the distribution of the latest violence. The first map shows the location of specific incidents of violence, pinpointed around the country. […]
Claremont Group Poised to Grow in Kurdistan
The Claremont Group has expanded its international development operations into the rapidly growing commercial and residential real estate market in the Kurdistan region of northern Iraq. The New York-based real estate firm has launched construction on a major modern residential community in the region's capital of Erbil, Iraq's most secure and fastest-growing city. The Atlantic, […]
Iraq’s Lessons for The Arab Spring
This article was written by Abeer Mohammed, and was originally published by the Institute for War and Peace Reporting, iwpr.net. It is reproduced by Iraq Business News with permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. On its road to democracy, Iraq may […]
German and US Firms Propose Grain Silo near Nassiriya
German and American companies have proposed building a grain silo in Shatra County, north of Nassiriya, a Provincial Council member announced on Friday. Hamoud al-Shatri told Aswat al-Iraq that two companies proposed building the storage facility which will have a capacity of 30 thousand tons. The silo project is one of the main infrastructure projects […]