DNO Chief: New Iraqi Govt Positive for Kurdish Oil Exports
Bloomberg reports that DNO International ASA, the Norwegian Oil company with operations in Iraqi Kurdistan, regards the formation of a new government in Iraq as an “important milestone” in paving the way for the resumption of oil exports from the Kurdish region. “Getting a government in place is a necessary step for this process to […]
Azerbaijan, Iraq Sign Trade Cooperation Agreement
The Iraqi and Azerbaijani governments have signed an agreement on trade, economic, scientific, technical and cultural cooperation, according to a statement from the Ministry for Trade. The agreement was signed by Azerbaijan`s Deputy Premier, Abid Sharifov, and Iraqi Minister of Trade, Safaa Al-Din Mohammad Al-Safi, at the end of the two-day Iraqi-Azerbaijani committee’s meetings. Al-Safi […]
Iraq to Open Bank Branches in Iran's Free Zone
The managing director of Iran's Arvand Free Zone, Ali-Asghar Parhizgar, has said Iraqi banks have filed requests to set up branches in the zone, according to a report from Tehran Times. Since the establishment of foreign banks' branches in Iran's free zones was facilitated, Iraqi banks have welcomed setting up shops in Arvand Free Zone, […]
Qatar's Woqod to Enter Iraqi Lubricants Market
The Qatar Fuel Company (Woqod) is entering the UAE and Iraqi markets with its automotive lubricants. “We are launching our lubricants within the region and to other markets such as Africa and Asia and the CIS countries,” said Mohamed Turki al-Sobai, vice chairman and managing director of Woqod, after appointing distributors to the UAE and […]
IMF Calls for Iraq to Clear its Debts
An adviser to the Central Bank of Iraq (CBI) said on Wednesday that the International Monetary Fund (IMF) has renewed its call for Iraq to clear its outstanding debts. Nathhar Mohammed Saleh told AKnews that the IMF called on the Ministry of Finance and the Central Bank to develop feasible solutions to its external debts. […]
Trade Ministry to Invest in Baghdad Fair
Iraq's Trade Ministry has prepared a plan to rehabilitate the Baghdad International Fair at a cost of 4 billion dinars [$3.4m], according to a media director. “The ministry has mapped our a plan to rehabilitate the Baghdad International Fair in preparation for the coming 38th season,” Mohammad Hanou told Aswat al-Iraq news agency. “The ministry […]
New $2.6m Medical Centre in Baghdad
The Minister for Labor and Social Affairs, Mahmoud al-Sheikh Radhi [Mahmoud Mohammed al-Radhi], has opened a new $2.6m [3 billion Iraqi dinars] medical center for occupational illnesses in Baghdad. The center is the first of its kind in Iraq. He told AKnews that "the Ministry is seeking to build occupational medical centers in all the […]
Obama Welcomes Iraq's New Government
Following the re-election of Nouri al-Maliki to the position of Prime Minister, US President Barack Obama welcomed the formation of the new Iraqi government. "This agreement marks another milestone in the history of modern Iraq," he said at the G2o conference in Seoul. "There are still challenges to overcome, but all indications are that the […]
News Flash: Allawi Walks Out of Parliament
Just as Iraq's politicians had finally hammered out a deal to create the next government, Ayad Allawi [Iyad Allawi] joined an estimated 57 Iraqiya MPs in walking out of the chamber. The parliament, meeting in only its second session since the election in March, had just elected as Speaker Osama al-Nejeifi [al-Nujaifi], a Sunni hard-liner […]
Light at the End of the Tunnel
After eight months it seems that finally we are close to an agreement on the formation of the next Iraqi government. When the talks finally reach a conclusion, there's a long list of issues to be addressed by the incoming government, not least of which is Iraq's abysmal ranking in the World Bank's latest Doing […]
$233m New Projects in Najaf
The Najaf Investment Commission has granted three investment licences worth a total of $233m [273 billion Iraqi dinars] to two Iraqi companies and a Turkish company. The head of the board, Wafi Albhash, told AKnews that the Turkish company was granted an investment license for a housing project worth $ 218 million. A licence to […]
International and Local Efforts to Develop Basra's Ports
The business associations and economic organizations in Basra, in collaboration with the International Private Projects Center, have held a conference to review the problems experienced by the private transport sector in the province. Abdul Saleh Saheb, the supervisor of the Conference and Vice-President of Businessmen's Union, told AKnews that the conference aims to review the […]