Key Stats on Progress on Khor Abdullah Canal
By John Lee. The Director of the General Company for Iraqi Ports, Eng. Farhan Al-Fartousi, has announced some key statistics for the new navigational canal project at Khor Abdullah and the Grand Faw basin: Up until the 10th of August, a total of 8,764,460 cubic meters of mud have been dredged. The ongoing projects include […]
Platforms to Empower Youth to Combat Climate Change in Iraq
From UNICEF: UNICEF in Iraq and Ministry of Youth and Sports Launch Platforms to Empower Youth to Combat Climate Change On International Youth Day, UNICEF and the Ministry of Youth and Sports launch a series of new innovative platforms designed to empower Iraqi youth and address the pressing challenges posed by climate change. These pioneering […]
The Iraqi Dinar, and the Conundrum over the Dollar and Iran
By Ahmed Tabaqchali, Chief Strategist of Asia Frontier Capital (AFC) Iraq Fund, for the London School of Economics (LSE) Middle East Centre. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Dinar, and the Conundrum over the Dollar and Iran A report in a […]
Saudi Export Mission to Erbil Strengthens Trade Ties with Iraq
By John Lee. The Saudi Export Development Authority (SEDA), under the banner of "Made in Saudi Arabia, Exported to the World," has conducted a trade mission to Erbil, Iraq. The mission, held on August 15, 2023, featured the participation of 34 Saudi companies and 140 Iraqi companies across diverse sectors including construction materials, food products, […]
Progress on Masdar Solar Projects in Iraq
By John Lee. The Minister of Electricity presided over a significant meeting with a delegation from the UAE-based company Masdar. The company is planning solar power projects in Maysan, Thi Qar, Anbar, and Kirkuk. The minister highlighted the government's commitment to diversify energy sources and reduce reliance on gas and fossil fuels. He emphasized the […]
Jordanian Firm Expands in Iraq
By John Lee. OFFTEC Iraq, a subsidiary of Jordanian-based OFFTEC Holding Group PLC (OHG), has recently established a special division for lighting solutions at its Baghdad and Erbil branches, in cooperation with WATCO, an OHG subsidiary specialized in lighting solutions. According to a statement from the company, this move aligns with OHG's new business strategy […]
Court "Seizes Assets" of Former Iraqi Oil Minister
By John Lee. The Karkh Investigation Court, which is specialized in integrity issues, has reportedly issued an order to seize the movable and immovable assets of former Oil Minister Ihsan Abdul-Jabbar. According to the state-run Iraqi News Agency (INA), citing a court source, the case relates to the alleged exploitation of his position and the […]
Call for Production Sharing Contracts in Iraqi Kurdistan to be honoured
By John Lee. An industry group representing international oil companies (IOCs) in Iraqi Kurdistan has urged the Iraqi Federal Government in Baghdad and the Kurdistan Regional Government (KRG) to honour their production sharing contracts (PSCs). The Association of the Petroleum Industry of Kurdistan (APIKUR) added that it wants those rights to be incorporated into Iraq's […]
Qatari Firm Opens 2 Subsidiaries in Iraq
By John Lee. Qatar's Estithmar Holding Q.P.S.C. has announced that its subsidiary, Elegancia Healthcare W.L.L., has established a branch in Iraq in line with the memorandum of understanding that was signed recently with the aim of managing and operating several hospitals that will start soon in Iraq. Estithmar also announces that it's subsidiary, Elegancia Marine […]
Structural Designs for New Sadr City Project Approved
By John Lee. Prime Minister Mohammed Shia Al-Sudani chaired the fourth meeting regarding the New Sadr City project. During the meeting, initial structural designs for the project were approved after a detailed presentation by the company responsible for its development. Key points discussed during the meeting included the resolution of land ownership procedures involving the […]
First Iraqi Bank launches New Payment Service via Visa
By John Lee. Iraq's first digital bank, First Iraqi Bank, has announced the launch of Visa Direct for the first time in the Iraqi market, in partnership with Visa. According to a press release, Visa Direct is a real-time point-to-point payment service that will enable Iraqi consumers to enjoy real time transfers for the first […]
Chinese Firm Wins $194m Drilling Contract in Iraq
By John Lee. A subsidiary of China National Petroleum Corp (CNPC) has reportedly won an engineering, procurement and construction contract worth $194 million to drill wells at Iraq's Rumaila oilfield. According to Channel News Asia, the contract was awarded to Daqing Drilling Engineering Company, which has been active at the field since 2010. More here. […]