EIC Trade Mission to Iraq, Oct 2011
The EIC is organising an oil and gas trade mission to Baghdad and Basra in Iraq. Missioners will have the opportunity to attend organised group meetings with key local players, as well as incorporating a briefing meeting presented by qualified speakers with in-market experience and the opportunity to meet with local companies. Why Iraq? As […]
Iraq - The Model ….. for Democracy and Private Sector Development
By Gavin Jones, Director of Iraq Business News, and Partner at consultancy firm Upper Quartile. "Something we could not have predicted five months ago is that Iraq would emerge as the most advanced Arab democracy in the entire region. As messy as it is, when you think back to the months and months that it […]
Eni Confirms Probe into Alleged Bribes
The Italian oil company Eni, and its Saipem subsidiary, said in a statement Wednesday that they are the injured parties in an investigation into alleged bribes related to contracts in Kuwait and Iraq. BusinessWeek says Milan prosecutors are investigating whether executives took bribes from Italian engineering and construction firms for subcontracts in Iraq's Zubair oil […]
Alshaya Brings Mothercare to Iraq
Arabian News reports that Kuwait’s MH Alshaya Co, the Gulf franchise holder for H&M, Starbucks and TopShop, plans to debut the mother and baby equipment chain Mothercare in Erbil later this year, in a bid to tap into the country’s 30 million-strong population. This will be the Alaysha's first retail outlet in country. “We believe […]
Inflation Rate to Reach 7% in June
Iraq's Central Bank expects the inflation rate to reach 7% in June, and pointed out that the increase of oil prices is one of the main reasons of inflation in the country. Central Bank advisor Mazhar Mohammad Saleh told Al Sumaria TV that production of goods is weak in comparison to the services sector, which […]
KRG Representative Urges Greater Economic Partnership with US Companies
The Kurdistan Region in Iraq continues to grow and strengthen economically and remains a prime opportunity for investors to find a profitable home in the Middle East, Qubad Talabani (pictured), the KRG’s Representative to the United States, told investors in Manhattan yesterday. Addressing an audience at the 10th annual hedge fund symposium sponsored by Institutional […]
Iraq Insights: A Monthly Publication on Issues Affecting Private Sector Development
By T. Keyzom Ngodup, co-founder and Executive Director at Ideas sYnergy, an Iraq based private sector development consulting company. IRAQ INSIGHTS, published by Ideas sYnergy, aims to consolidate and build intellectual capital on private sector development, empowering stakeholders to address issues of access and structural reforms on a diverse range of topics impacting inclusive economic […]
Gas is Vital for the Future
By Chris Bowers, British Consul General in Erbil. This article was originally published by Rudaw, and is re-published with permission by Iraq Business News. Let me start by asking a question: why is gas less talked about than oil in Iraq? I am not sure why this is the case but it does seem to […]
Ban Ki-moon Calls for Iraq to Fulfil Pledges to Kuwait
United Nations Secretary-General Ban Ki-moon has encouraged the Iraqi Government to act quickly to fulfil its obligations to find Kuwaiti or third country nationals, property and archives lost in Saddam Hussein’s invasion of Kuwait more than 20 years ago. In his latest report to the Security Council on the subject, Mr. Ban says that the […]
Iran to Supply Iraq with Gasoil for Power Generation
Bloomberg reports that Iran has agreed to supply 1.5 million liters a day (9,400 barrels), of gasoil to Iraq over the next 12 months for power generation. Masaab Serri, spokesman for the Iraqi Electricity Ministry, said in an interview that the fuel will enable power plants to generate 250 megawatts, according to the agreement signed […]
Iraq and France Sign Deal to Develop Airports
According to a report from AKnews, Iraq has signed a preliminary deal with France for the development of Iraq’s airports. The French government has agreed to help with the construction of new buildings and the modernization of outdated equipment such as security scanners. A high-level delegation led by Transport Minister Hadi al-Amiri travelled to Paris […]
Korea Considers 80,000 Housing Units in Basra
The Chairman of Basra Investment Commission has called on Korean companies to study the city’s investment map and consider th opportunity to build 80,000 housing units in the city. The issue had been discussed in a meeting between Haider Ali Fadhel and Basra Governor, Khalaf Abdul-Samad, with the South-Korean Ambassador to Baghdad and his delegation […]