Doing Business In Iraq
The following editorial was published on Wednesday by the Voice of America. The Voice of America, founded in 1942, is among the world’s most trusted sources of news and information. VOA is a multi media broadcasting organization based in Washington, D.C. Expanding economic opportunity in Iraq is as essential as building democratic institutions. The United […]
UAE's Dodsal to Build $106m Pipeline at Majnoon
Shell and Petronas have awarded Dubai-based Dodsal Group a $106m contract to lay a pipeline at the Majnoon oilfield, an Iraqi oil official said. Reuters reports that under the deal, Dodsal Group will build a 79-km (50-mile) pipeline to carry oil from the supergiant Majnoon oilfield to a crude storage depot near Zubair in southern […]
Govt Approves $692m Cement Factory
Iraq’s cabinet has approved a $692 million [810 billion Iraqi dinar] contract for the construction of a cement factory in southern Iraq, according to Arab News. Government spokesman Ali Al-Dabbagh (pictured) said the factory will be built in Diwaniya province, 150 km south of Baghdad, and will cover an area of about 185 acres. The […]
Iraq Must Regulate Private Security Firms - UN
A UN working group said on Thursday that Iraq should tightly regulate private security firms to prevent abuses by their employees when they stay on in the country after a scheduled U.S. military withdrawal. While the number of incidents involving private military and security companies in Iraq has decreased in recent years, the Government should […]
Maliki Dissolves the National Alliance, Says No to US Forces
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. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. […]
Iraq Tenders Intl Railroad for Investment for Lack of Funds
The Iraqi Transport Ministry is planning to tender a railroad line links Iraq to several Asian countries through Iran for foreign investment for lack of funds. The 200 km Mundhiriya-Qasr Shirin railway will link Iraq’s Baqouba city to Iran through the Mundhiriya border crossing, and from there to several other Asian countries including India and […]
Helping Your Countrymen Succeed in Iraq
US Secretary of State, Hillary Rodham Clinton, didn't mince her words: "According to the IMF, Iraq is projected to grow faster than China in the next two years. Now, let me repeat that, because when I read it I said, okay, are you sure because we always think of China as being the juggernaut? But […]
Lukoil to Explore in Iraq?
Lukoil is interested in seeking exploration licenses in Iraq, according to a report from Bloomberg. The company's Chief Executive Officer, Vagit Alekperov, met Iraq's Oil Minister, Abdul Kareem al-Luaibi [Elaibi], in Moscow on Wednesday. Alekperov and al-Luaibi also discussed the West Qurna-2 project, and development of infrastructure to ship oil from the field. (Source: Bloomberg)
Iraqi Army to Guard Pipelines and Refineries
Iraqi Prime Minister Nuri al-Maliki has ordered the army to increase its protection of the country’s pipelines and refineries. “Any breaches will cause problems at the Dora [Doura, Daura] and Baiji [Bayji] refineries (pictured) and the pipelines feeding the power stations,” Maliki said yesterday during a televised Cabinet meeting on the government’s performance during its […]
Exiled TBI Boss Denies Allegations - Open Letter from Bank's Advisor
The exiled former head of the Trade Bank of Iraq (TBI), Hussein Al-Uzri [Hussein al-Azri], has denied allegations of corruption and mis-management in a telephone interview with Reuters. "It's about control of this bank," the U.S.-educated banker, aged 48, told the news agency in his first media interview since fleeing Iraq. "Having control of the […]
Baghdad Co Wins $130m Najaf Power Contract
According to a report from Bloomberg, the $130 million [150 billion Iraqi dinar] contract to build a 500-megawatt power station in central Iraq has been won by the Baghdad Company for Gas Turbines Ltd. The privately owned company was founded in 1993, and re-registered in 2003. The company is scheduled to build the natural-gas fired […]
Kuwait to Open Consulates in Erbil and Basra
Kuwait will open consulates in Erbil and Basra in the next few days in an effort to increase the country’s investment in the regions, the Kuwaiti Embassy in Baghdad said today. Kuwait's ambassador to Iraq Ali al-Muamman said: "Kuwait is working to expand diplomatic and economic relations with Iraq by opening consulates in various Iraqi […]