Muthanna Already OKs 73% of Investment Projects
Thirty-seven percent of the investment plan projects for the year 2011 in the province of al-Muthanna were approved in a “record” time, according to the province's governor, Ibrahim Salman al-Mayyali, on Thursday. “Muthanna finalized referral of 73% of the projects in the 2011 investment plan, worth 66.680 billion Iraqi dinars [$55.6m], thus outstripping all other […]
Basra Investment Commission Considers Bottled Water Project
The legal department of the Basra Investment Commission (BIC) is carrying out the final study of the bottled water project. The head of the department, Mohammed Rhyad Hilal (pictured), said that the project submitted by the international company Everest Seven, includes the construction of a plant producing bottled water sterilized by ozone. The production capacity […]
Wassit Blacklists 19 Companies
The province of Wassit [Wasit] has blacklisted 19 general contracting companies for their slackness in implementign project, the province's governor announced on Thursday. “Nineteen were blacklisted and five of them had their licenses withdrawn for their delay in carrying out service projects,” Mahdi al-Zubaydi told Aswat al-Iraq news agency. He noted that the local administration […]
Asiacell Revenues Up 17% year-on-year
Asiacell has stated that its revenues increased 17% year-on-year to US$377.29 million in Q1, according to a report from Wireless Federation. EBITDA rose 14% to US$213.63 million, with EBITDA margin falling 1% to 57%. Revenue and EBITDA growth was driven by increased customer base and increased usage. At the end of Q1, Asiacell had 8.306 […]
UN Pays Out $880m in Reparations for Iraq’s Invasion of Kuwait
The United Nations Compensation Commission (UNCC), which settles the damage claims of those who suffered losses due to Iraq’s 1990 invasion of Kuwait, made $880 million available to nine successful claimants on Thursday. The latest round of payments brings the total amount of compensation disbursed by the Commission to $32.2 billion for more than 1.5 […]
Agriculture Ministry Allocates $285m for Dates
AKnews reports that the Iraqi Ministry of Agriculture has announced the allocation of $285 million [350 billion Iraqi dinars] for the rehabilitation of the country’s palm groves. Ministry spokesman Karim al-Tamimi told the agency that $177.3m of the allocation will fund an investment plan put together by the General Authority of Palms, $76.3m will be […]
Austrian Airlines to fly to Baghdad from June
Three flights a week from Vienna to Baghdad Austrian Airlines now flies to two destinations in Iraq Serves a total of 12 destinations in Middle East Austrian Airlines is to reincorporate the Vienna-Baghdad-Vienna route into its scheduled flight programme from 8 June 2011 onwards. The carrier will operate a total of three flights a week […]
Doing Business in Conflict Zones
Move One's Country Manager for Iraq, Cameron Marchand, gives an overview of what it takes to run a business in Iraq. An integral part of what has driven Move One to become a leader in its field is the ability to operate in the most challenging and inhospitable environments of the world. Until recently, Iraq […]
Cargo and Logistics Conference in Erbil
The inaugural edition of the annual Airports Expansion, Cargo and Logistics Conference and Exhibition, organised by Arabian Reach, the UAE-based company specialising in exhibitions and events management across the region, began Wednesday, April 27, 2011 in Erbil, Iraq, with the participation of over 2000 visitors from 33 countries across the world. UAE visitors alone comprise […]
Iraq Petroleum 2011, 12‐14 July, London
Following the announcement by the Iraqi Ministry of Oil that 12 exploration blocs, including the first sea exploration bloc, will be tendered in next year’s auction and alongside the current influx of hundreds of companies to Iraq, the development of its oil and gas industries look set to continue. The latest edition of CWC’s Iraq […]
ExxonMobil Equips University of Basra Labs
ExxonMobil Iraq Limited is contributing 1.2 billion Iraqi dinar (US$1 million) to equip petroleum engineering laboratories at the University of Basrah to be used by students seeking careers in Iraq's oil and gas industry. This grant will also fund faculty and curriculum development under which some 46,000 students are expected to study over the next […]
Germany's Bertling Plans Operations in Basra
The German company Bertling met the chairman of the Basra Investment Commission to discuss their plan to establish an project providing logistical support for oil and gas companies in Basra. A director of the company, Ali Majed Sabah, said ,"the conference that was held in Kuwait Chamber of Commerce recently and our follow up at […]