$25bn Iraq Housing Deal with S. Korea
Dr. Sami Al- Araji, NIC Chairman, signed a Memorandum of Understanding in Seoul with a Korean company to build 500,000 housing units throughout Iraqi. The deal could have a possible total value of $25 billion, based on the previous information from the commission stating that each housing unit was expected to cost $50,000. Reuters reports […]
Iraq-Saudi Oil Pipeline May Be Re-Built
Iraq's Oil Ministry is studying an offer submitted by a private a Saudi company to rebuild the idled Iraq-Saudi oil export pipeline, ministry spokesman Asim Jihad told Reuters. Jihad and a representative of the Saudi firm, Ali Mahir, said the offer proposed involving Japan's Mitsubishi and a Hungarian company identified as OTV, which took part […]
World Bank Slates Iraq's Business Environment
As Iraq's politicians continue to haggle over the formation of the next government, the World Bank has issued its latest Doing Business 2011 report, and the incoming administration would do well to read it. Consider the following: Out of 183 countries monitored, Iraq ranks 166th, behind even Haiti and Zimbabwe; No business regulation reforms have […]
AAIB and Marsh Sign Exclusive Iraq Insurance Agreement
Marsh has announced that it had signed a mutually exclusive agreement with Anglo Arab Insurance Brokers, the only international broker to be licensed and registered to operate in Iraq with offices across the country. Under the terms of the agreement, Marsh and AAIB will co-operate on insurance coverage, risk management and claims handling issues for […]
Deloitte to Open Iraq Office
Global accounting and audit firm Deloitte plans to open its first office in Iraq and is working on an add-on acquisition to grow its Middle Eastern presence, according to report from Reuters. Omar Fahoum, chairman and chief executive of Deloitte Middle East, told Reuters that the company will open a branch in Baghdad in the […]
Iraq Shuns Rail to Protect Ports
Iraq’s Transport Minister has said that Iraq turned down a project to create rail links between Iraq and the Gulf states because it wanted to project Iraqi ports. He added that the border problem with Iran had hampered the clearing of sunken ships and materials in Shatt Al-Arab Waterway. “If the country is linked with […]
Increased Iraqi Tenders For Gasoline
Iraq is hoping to buy 9% more gasoline during the first half of 2011 than it did during the first six months of this year, according to Bloomberg. The State Oil Marketing Organisation (SOMO) plans to purchase 880,000 metric tons of gasoline for delivery between Jan. 1 and June 30, according to tenders posted on […]
Bhatia Brothers to Re-enter Iraq
Dubai-based Bhatia Brothers is looking to re-enter the Iraq market as there are business opportunities galore, a top company executive said. "We are working on Iraq. Previously, we have done business with Iraq. There were a number of complexities that restricted business opportunities in Iraq in the past 10 years. Now, that businesses are being […]
WesternZagros Completes Successful Test at Kurdamir-1 Well
WesternZagros Resources Ltd. (TSX VENTURE:WZR) has announced that it has successfully concluded the first cased hole test of the Lower Oligocene formation in the Kurdamir-1 exploration well. The tested zone was between 2,365 metres and 2,415 metres. The test achieved a maximum flow rate, after acidization, of 18.3 million cubic feet per day of gas […]
USAID-TIJARA Plans Microfinance Conference
The USAID-Tijara “Putting the Poor First” microfinance symposium, a program supported by the U.S. Government, will be held November 28-30 in Erbil. The Inclusive Financial Services Stakeholders’ Conference will bring together leaders from the 12 microfinance institutions (MFIs) that provide financial services throughout Iraq. The forum will attract Iraqi policy makers, donors, banks, small business […]
Syrian-Iraqi Business Council Launched
The Syrian-Iraqi Business Council was launched on Saturday with the aim of supporting and enhancing the economic relations and increasing the volume of trade and investment between the two countries. SANA also reports that the Council also aims to introduce businessmen and investors to the economic and investment opportunities available in Syria and Iraq, in […]
Anbar to Provide Affordable Internet Services to its Citizens
The Anbar Investment Commission said on Tuesday said that it plans to provide internet services to its citizens at affordable prices. Arkan Khalaf al-Tarmouz, the chairman of the committee, told AKnews that the investment project will provide a high-speed internet service at a cost of $70 per month [82,000 Iraqi dinars], eventually falling to 10,000 […]