Iraqi Kurdistan Launches New Investment Guide
The Kurdistan Regional Government's representation in Washington has launched Invest in Democracy, the KRG's official 2011- 2012 investment guide which outlines the buisness opportunities and investment climate for international companies in the region. The investment guide includes forewords by President Masoud Barzani, Prime Minister Barham Salih, as well as British Foreign Secretary William Hague, US […]
Petrofac Updates on Majnoon Oilfield Project
In its interim results for the first half of 2011, oil services company Petrofac gave the following update on its operations at Shell's Majnoon oilfield: "In March 2011, we announced the award of our first contract in Iraq, a US$240 million engineering, procurement and construction management project with Shell. The Majnoon field in southern Iraq […]
Iran, Iraq Agree to Develop Joint Oil Fields
Fars News Agency reports that a senior Iranian oil official has announced that the country has worked out an agreement with Iraq to develop joint oil fields along the countries' shared border. The Managing Director of the Iranian Central Oil Fields Company (ICOFC) Mehdi Fakour added, "We are waiting for the Iraqis to be prepared […]
Iraqiyya and the Kurds Challenge Maliki on Oil and Gas
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. […]
Korean Firm to Build 100,000 Homes in Baghdad
A South Korean firm said on Saturday that it will build a 100,000-unit housing development south of Baghdad, according to a report from AKnews. At the end of a visit to South Korea in April, Prime Minister Nouri al-Maliki signed a number of contracts in the areas of economy, construction and energy. A group of […]
Iraq's Inflation Hits 7.1% in July
Trade Arabia reports that Iraq's core annual inflation rate increased to 7.1 per cent in July, up from 6.4 per cent in June. The Deputy Governor of Iraq's central bank, Mudher Kasim, told Reuters that the increase was driven mainly by higher housing rental prices and an increase in the cost of building materials; the […]
The Last Straw? Maliki Appoints Dulaymi as Acting Minister of Defence
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. […]
Video: CNBC Interview with VP of US Iraq Business Council
CNBC recently interviewed Hussain Qaragholi, Vice President of the U.S. Iraq Business Council and Managing Partner of Phoenix Capital, about investing in Iraq: (Source:CNBC)
Expert Analysis of the New Version of Iraq's Oil Law
On Wednesday 17 August 2011 the Iraqi parliament began the first reading of a new version of oil law proposed by the oil and energy committee-OGC of the parliament itself. The timing and the procedure of the debate created confusion and prompted significant walkout of many parliamentarians members of influential political groups. The debate was […]
Third Turkish Power Supply Ship to Arrive at Umm Qasr
The Iraqi Electricity Ministry has said that a third Turkish ship will arrive within a few days in the Umm Qasr port (pictured) to supply 108 megawatts of power to Iraq's struggling electricity grid. A spokesman for the ministry has added that two other Turkish floating power plants off southern Iraq supply a total of […]
French Firm Begins Work on $15m Hotel in Nineveh
A French company began construction work on Tuesday on a $15 million luxury hotel in Nineveh’s Shallalat area, 10 km north of Mosul, according to AKnews. The Investment Commission's media spokesman told the agency that the 200-room hotel will be the first of its kind in the region. “The implementation of the project comes after […]
Turkish Company Builds New Hotel in Basra
The governor of Basra has laid the foundation stone for a new 120-room hotel in the city. The new hotel, which will have 7 floors and will include two restaurants, will be built at a cost of $14 million [17 billion Iraqi dinars] on a site covering 3.5 acres. According to the Basra Investment Commission, […]