Forum Calls on UK Business to Make the Most of Kurdistan
Many UK companies such as BTWShiells, HSBC, Land Rover and Mothercare have already joined international brands such as Carrefour, Coca-Cola, Diesel, Ecco, Lafarge, Pepsi, Levi’s and Mango in Kurdistan but there are many more opportunities for UK companies, in a surprisingly wide range of sectors in the Region. With 71 companies now operating in the […]
Kurdistan President Approves 2011 Budget
The president of north Iraq’s Kurdistan Region, Massoud Barzani (pictured), has approved the Region’s 2011 Budget, estimated at 13.9 trillion Iraqi dinars ($11.6 billion), the Region’s media director,Simko Anwar, told Aswat al-Iraq news agency. “The President of Kurdistan Region, Massoud Barzani, has approved the Region’s budget for the year 2011, last Thursday, after long discussions […]
Karbala Cuts Power to Cement Plant
Aswat al-Iraq news agency reports that Karbala's Provincial Council has decided on Monday to cut the electric power supplied to the cement plant run by French company Lafarge. “[The company] must get its power by itself and achieve an annual production of 30 million tons,” Tareq Gatifa al-Khikany, Chairman of the Council’s Economic Committee said. […]
Hermes Datacomms Wins BP Contract in Iraq
Hermes Datacommunications Middle East, a key specialist providing Wide Area Network communications to the upstream oil and gas industry has won a contract to continue providing VSAT communications to support BP’s operations in Iraq. Hermes will continue supporting degassing stations, rigs and static life support camps. Included in this contract renewal is additional bandwidth to […]
Basra Oil Workers Get 30% Salary Increase
Iraq’s government said it would raise salaries at its southern oil terminals, following threats of a strike that would paralyse oil exports, reports AFP. “The cabinet decided to grant a 30 percent increase in salaries of employees at the oil terminals in Basra and in Khor al-Aamaya” near the southernmost Faw peninsula, government spokesman Ali […]
Economic Committee Asks Government to Explain Japan Donation
Iraq’s parliamentary economic committee has asked the government to explain a $9.48 million aid donation to Japan to help deal with the aftermath of the devastating March 11 tsunami. The donation was announced last week in a government statement, alongside hints of a potential business arrangement between the two countries. “The government has agreed to […]
Minister Calls on UK Businesses to Invest in Kurdistan’s Tourism Now
Kurdistan Region Tourism Minister, Samir Abdullah Mustafa, yesterday called on British investors to make the most of the opportunity to invest in Kurdistan’s tourist sector at a conference in London. Setting out plans to build 2,500 new hotels to accommodate another 1.35 million visitors annually by 2015, the Minister also highlighted existing success stories within […]
Iraq May Abolish Customs Charges on Syrian Goods
Iraq’s Finance Minister, Rafie al-Issawi (pictured), has discussed with a visiting Syrian delegation in Baghdad on Monday the issue of the abolition of customs charges on all Syrian goods entering Iraq, a Finance Ministry statement reported. “Issawi has received a high-level Syrian economic delegation, and both sides have discussed means for boosting economic and banking […]
'Next Year Iraq Will be Really Big', Schlumberger
Iraq will be one of the main revenue contributors to Schlumberger's Middle East operations and will be bigger than most of the company's other markets in the region with the exception of Saudi Arabia, Chief Executive Andrew Gould (pictured) told the Financial Times on Tuesday. "Next year Iraq will be really big", said Gould. The […]
KRG Revokes 238 Investment Licences
After re-evaluating all investment ventures in the region the Kurdistan Regional Government has revoked the licences for 238 of them, the minister for municipalities and tourism said on Sunday, according to AKnews. Samir Abdullah told the agency that a number of other projects are being considered for scrapping. The moves are seen as an effort […]
Iraq Mobile Operators Facing Mandatory IPO Deadline
Iraqi operators Asiacell, Korek Telecom and Zain are facing a mandatory deadline for an initial public offering of stock, with reports stating that the companies have to sell-off a 25 percent holding on the local stock exchange within four years of acquiring their licences, according to Mobile Business Briefing. This means that the companies must […]
Iraq Telecoms 2011 Gold Sponsor Zain Considers Offers to Manage its Network
With 12 million subscribers in Iraq, Kuwait’s Zain is the market leader in the Iraq Telecoms industry, currently considering several tender offers to manage its telecoms network in Iraq. Zain is likely to award the contract in the next few weeks; the winner will be able to improve the network quality, while Zain will focus […]