Iraq Gov’t Bank Managers Arrested, $360m Missing
Three managers of state-owned Iraqi banks have been arrested on suspicion of using bogus transfers to siphon off billions of dollars of government money to invest in private business.
Turkish Companies Participate in the Food Products Exhibition in Basrah
The first international fair for food products and household items continue in Basrah for the third day, with over 40 Turkish companies, as well as a number of international and local companies.
China’s Shanghai Electric in $1bn Power Deal
China's top power equipment maker Shanghai Electric is moving ahead with a $1 billion power-generating plant to boost Iraq's electricity capacity by 1,320 megawatts, officials said on Saturday.
Iraq to Wind Up Airline in Kuwait Dispute
The $1.2bn (£837m, €979m) reparations relate to aircraft and parts taken by Iraq during its occupation of Kuwait. The decision to wind up Iraqi Airways is an attempt to avoid the claims filed by Kuwait Airways.
Lufthansa Launches Flights from Munich to Iraq
Lufthansa is introducing a new route between Munich and Baghdad on 30 September 2010 served four times weekly with a Boeing 737.
Plan Underway to Build 9 New Quays in Basra’s Umm Qasr
A plan is underway to build nine new quays in Basra’s Umm Qasr port in light of a surge in the number of ships arriving at Iraqi ports, the Iraq Ports Company director revealed on Sunday.
Italian Group to Establish Residential Compound
Head of the Diwaniya Investment Commission said on Friday that a Memorandum of Understanding has been signed with an Italian group to establish a residential compound in the province.
Iraq Considers Third Oil Auction
Iraq is considering holding a third oil auction for some of its supergiant fields, such as Kirkuk and East Baghdad, if there is enough interest from foreign players, Oil Minister Hussain Shahristani said today.
Dutch Delegation to Visit Basra to Discuss Investment Opportunities
“An agreement has been reached with official Dutch authorities to send a delegation of 30 businessmen and traders to Basra to review the investment opportunities and economic capabilities in the province,” said Shaltagh Abboud al-Mayah
Turkish Company to Develop the Infrastructure of Baghdad
The Municipal Secretary of The Secretariat of Baghdad, Naeim Alkaabi, has met with a Turkish Company the discuss the possibilities to develop the infrastructure of the Capital city of Baghdad.
Iraq Building Two New Power Plants
28 May 2010 - Azzaman Two new power plants are to be built in the southern provinces of Babel and Karbala, the Electricity Ministry said in a statement. The statement said Electricity Minister Kareem Wahid laid down the foundation stones for both plants, which will cost nearly $170 million. It will take the gas-driven […]
Kuwait Airways Will Take Legal Measures Against Iraqi Airways Liquidation
Kuwait Airways Corporation will take the necessary legal measures to protect its rights, after Baghdad's decision to liquidate the Iraqi Airways