Contracts Signed for New Residential City near Baghdad
By John Lee. Under the patronage of Prime Minister Mohammed Shia Al-Sudani, the signing ceremony for the new Ali Al-Wardi Residential City project took place on Wednesday. Iraq's Minister of Housing, along with the director of Egypt's ORA Developers, Mr. Naguib Sawiris, signed the contract. This project is the largest of five new residential city […]
Minister pushes Phosphate Fertilizer Project in Anbar
By John Lee. Iraq's Minister of Industry and Minerals, Dr. Engineer Khaled Battal Al-Najm, chaired a meeting of the Board of Directors of the General Company for Phosphates on Tuesday. The meeting was attended by the directors of the control, legal, technical, and investment departments within the ministry to discuss the latest developments regarding the […]
Khor Abdullah Dispute: Saudi Arabia sides with Kuwait
By John Lee. Kuwait and Saudi Arabia have renewed their call for Iraq to respect the agreement between the Iraq and Kuwait on the regulation of maritime navigation in the Khor Abdullah waterway. In September, the Iraqi Federal Supreme Court declared the agreement to be unconstitutional. A joint statement issued on Wednesday at the conclusion […]
GKP Remains Focused on Maximising Local Sales
Gulf Keystone Petroleum (GKP) has this morning issued an operational and corporate update. The information contained in this announcement has not been audited and may be subject to further review. Jon Harris, Gulf Keystone's Chief Executive Officer, said: "2023 was a challenging year for GKP and our industry as Kurdistan crude exports were suspended in […]
Minister of Trade Meets with Toyota Iraq
By John Lee. Iraq's Minister of Trade, Mr. Atheer Al-Ghareeb, recently met with a delegation from Toyota Iraq to discuss suitable ways and mechanisms to strengthen cooperation with Toyota. During the meeting, the Minister emphasized the ministry's eagerness to collaborate with automotive companies, including Toyota. This collaboration extends to successful partnership contracts and investments with […]
PM Meets Iraqi Businesswomen
By John Lee. Prime Minister Mohammed Al-Sudani met with a group of Iraqi businesswomen at the weekend, affirming the government's determination to support women in business. Al-Sudani said that reforms in the financial and banking sectors have prioritised supporting the business sector for women and providing employment opportunities for Iraqi women in the private sector. […]
Firms ask US to help Restart Kurdistan's Oil Exports
By John Lee. The Association of the Petroleum Industry of Kurdistan (APIKUR) has appealed to the United States Congress for immediate action to help resolve halted crude oil exports from the Kurdistan Region of Iraq (KRI). The export halt, affecting over 400,000 barrels of oil per day, has lasted more than 10 months and is […]
US Sanctions Iraqi Bank; $6bn Fraudulently Transferred
By John Lee. The US Treasury Department has sanctioned Iraq's Al-Huda Bank, and its owner and Chairman, Hamad al-Moussawi. On Monday, the Department's Financial Crimes Enforcement Network (FinCEN) said the bank, "serves as a conduit for terrorist financing, as a foreign financial institution of primary money laundering concern." Along with its finding, FinCEN proposed imposing […]
Iraq Finalises December Oil Sales
By John Lee. Iraq's Ministry of Oil has announced finalised oil export figures for December: Total exports of crude oil: 108,056,590 barrels. Revenues from crude oil exports: $8.311 billion. Oil fields in central and southern Iraq accounted for 107,592,532 barrels of crude oil exports. Exports from Kirkuk through the port of Ceyhan have been suspended. […]
New Initiative to Help Iraqi Entrepreneurs
By John Lee. The International Finance Corporation (IFC), Iraq Venture Partners (IVP), and Innovest Middle East have created a new initiative that aims to address the challenges faced by entrepreneurs in Iraq. A statement from IFC said the new program, "Scale Iraq (#ScaleIraq)", will support 20 startups, addressing their specific needs and gaps, esigning and […]
President urges Spanish Businessmen to Invest in Iraq
By John Lee. The Iraqi President, Abdul Latif Jamal Rashid, met with a delegation led by Spain's Minister of Foreign Affairs José Manuel Albares at Baghdad Palace on Thursday. Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein also attended the meeting. President Rashid emphasized the importance of working together to strengthen relations between […]
Iraq, Jordan sign Anti-Corruption MoU
By John Lee. Judge Haider Hanoun, head of the Federal Integrity Commission in Iraq, called on all countries, especially those parties to the United Nations and Arab anti-corruption agreements, to unite, cooperate, and combine efforts to mitigate the danger of corruption. He emphasized that corruption has become a phenomenon crossing national borders, and modern methods […]