Iraqi Banks Too Small for Major Projects
Iraqi banks are too small to be useful to international companies, resulting in major investment projects being impeded, Iraqi Electricity Ministry Spokesman Musab al-Mudarres told AKnews on Tuesday. “Iraqi banks cannot provide financial guarantees to foreign companies because their capital is below the guarantees expected by corporations", he said. "The Ministry of Electricity has submitted […]
Sulaimaniyah Needs 3 New Hospitals
Three more maternity hospitals need to be built in Sulaimaniyah to deal with the fact that a baby is born every 35 minutes in the province, medical officials say. The Director of Sulaimaniyah's only maternity hospital, Shler Fayaq Gharib, said the province needs three more maternity hospitals to deal with the increase in births. AKnews […]
Nineveh Signs Agreement with German Businesses
Nineveh Chamber of Commerce has signed a memorandum of understanding with a delegation of German business people for the exchange of expertise, the head of the chamber told AKnews. Moqbel Ahmed Dabbagh said on Monday that the agreement will see coordination between both sides to increase the booming investment in the Iraqi province. He said […]
Maliki Goes to China in Search of Investment
Iraqi Prime Minister Nouri al-Maliki will travel to China this week in a bid to attract Chinese investors to Iraq, an advisor to the PM told AKnews on Tuesday. Ali al-Mousawi said that Maliki will head a trade delegation, following an official invitation from the Chinese government. Mousawi said Chinese companies are already heavily engaged […]
Hermes Wins Iraq Communications Contract
Hermes Datacommunications Middle East, a key specialist providing Wide Area Network communications to the upstream oil and gas industry has secured a contract to provide Very Small Aperture Terminal (VSAT) communications to Expro North Sea Ltd in Iraq. The contract outlined will include a fully managed VSAT network, bandwidth, equipment, installation and support to The […]
Etihad - Record Increase in Revenues
Etihad Airways has reported its most successful first half year, with revenues up 28 per cent to US$ 1,720 million (H1 2010: US$ 1,342 million), driven by solid performances in both passenger and cargo activities. A 2 per cent reduction in costs per available seat kilometre, despite large increases in oil prices, also helped deliver […]
Shell, Mitsubishi, Sign Iraqi Gas Capture Agreement
Shell and Mitsubishi signed a final draft agreement with Iraq on Tuesday for a deal worth between $12 billion and $17 billion to capture flared gas at the southern oilfields. The long-awaited deal still needs the approval of Iraq's cabinet, Oil Minister Abdul-Kareem Luaibi [Elaibi] said in a statement. The Iraqi government will hold 51 […]
US Consulate General opens in Erbil
US Deputy Secretary of State Thomas Nides yesterday opened the United States Consulate General in Erbil. He was joined at the ceremony by Kurdistan Region President Masoud Barzani, Prime Minister Barham Salih, Speaker of Parliament Dr Kamal Kirkuki and other KRG and American senior officials. The solid relationship that the Kurdistan Region has maintained with […]
Iraqi Oil Pipeline to Syria Blown Up
Aswat al-Iraq reports that an Iraqi oil pipeline, carrying crude oil to Syria, was blown up northwest of Mosul on Sunday, stopping oil exports to Syria Ninewa police source said “a group of armed men have blown an oil pipeline carrying crude oil from northwestern Mosul’s Ain-Zalah refinery to Syria”, adding that the explosion took […]
Iraqi-US Business Council Opens in Basra
The chairman of the Iraqi National Investment Commission (NIC) has announced the official launch of the Iraqi-U.S. Business Council in Baghdad, which will be an extension of the American Chamber of Commerce in Iraq. The council will deal with the Iraqi private sector to encourage economic development, particularly in small- and medium-sized industries. NIC Chairman […]
2nd Basra Oil & Gas is heading for a Record
Advertising Feature The 2nd edition of Basra Oil & Gas, taking place from 25-28 November 2011, is set to be the largest industry event to date in Iraq. It will certainly exceed the record of the first event which hosted 218 exhibiting companies in 2010. 2nd edition is assumed to be held with more than […]
UN's Ad Melkert on World Population Day
Speech by the Special Representative of the Secretary-General for Iraq, Ad Melkert, on the World Population Day. Today is a welcome occasion to highlight the new stage that Iraq has embarked upon after so many years of suffering and devastation. It is the stage of substituting the confrontation of the past for cooperation towards a […]