Architectural Competition for Dakeer Island in Basra
By John Lee. Tamayouz Excellence Awards has invited architects and designers to submit their ideas to transform the underused Dakeer Island in Basra into a vibrant recreational urban destination for locals and visitors. As of now, Dakeer Island is packed with illegal settlements, wholesale and storage warehouses, and waste dumping areas. The shipyard business no […]
More Details of New Dam in Erbil
By John Lee. The Kurdistan Regional Government (KRG) has issued details of the Goma Span Dam, which is currently under construction in Erbil. With an area of 6.125 million square meters, it will be the biggest dam in Erbil province when completed, and the third largest in the Kurdistan Region after the Dukan and Darbandikhan […]
Youth Policy Dialogue to Improve Iraq's Business Ecosystem
Youth policy dialogue to improve Iraq's business ecosystem Youth entrepreneurs working in agriculture, business support organizations including start-up incubators, international organizations and government representatives convened in Baghdad to encourage informed policymaking for a stronger entrepreneurship ecosystem in Iraq. The Youth Policy Dialogue discussed the findings of the Youth Barometer Report published by the International Trade […]
Iraq, Jordan to Improve Cooperation on Drug Control
Iraqi Prime Minister Mohammed Shia' al-Sudani and Jordanian Interior Minister Mazen Faraya reached an agreement on Sunday to strengthen bilateral security cooperation, with a particular focus on combatting drug-related issues. During their meeting in Baghdad, the leaders discussed methods to enhance relations, facilitate travel between the two nations, combat terrorism, and address drug trafficking, as […]
GKP cancels Divi, Names New Chair of Board
Gulf Keystone Petroleum (GKP) provided an update on operational and corporate activity and the Company's upcoming 2023 Annual General Meeting ("AGM") on Monaday: Operational & Corporate Update Following the shut-in of the Iraq-Turkey pipeline on 25 March 2023, production from the Shaikan Field remains shut-in. The suspension of exports has resulted in a gross production […]
Parliament Brawl in Iraqi Kurdistan raises Questions
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Parliament brawl in Iraqi Kurdistan raises questions about détente Ministers belonging to the Patriotic Union of Kurdistan (PUK) are again participating in Kurdistan Regional Government (KRG) cabinet meetings, having ended a six-month boycott. […]
Iraqi Oil Exports via Turkey in "Weeks rather than Days"
By John Lee. A source, citing unofficial contact with Turkish energy officials, has told Reuters that that a resumption of crude oil exports from Northern Iraq via the Turkish port of Ceyhan (pictured) is expected to take weeks rather than days. Turkish pipeline operator BOTAS has reportedly said that it needs more time to check […]
Work Starts at Chinese Solar Plant in Erbil
By John Lee. KRG Prime Minister Masrour Barzani has laid the foundation stone at the first solar power plant in Erbil province. The 25-MW plant is being developed by a consortium consisting of Pluto Otto Cycle and Chinese companies Getting International Energy (which also has interests in neighbouring Jordan) and Shenglong Electric. The deal to […]
Fitch Rates Iraq's RTB Bank 'CCC+'
By John Lee. Fitch Ratings has assigned Erbil's Region Trade Bank for Investment and Finance Private Shareholding (RTB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the rating reflects the bank's, "limited franchise, unstable business model, volatile and concentrated customer deposit base and weak albeit improving profitability." […]
US Businessman Convicted of Torture in Iraq
Man Convicted Of Torture And Exporting Weapons Parts And Related Services To Iraq A federal jury convicted a Pennsylvania man on May 19 for numerous crimes, including the torture of an Estonian citizen in 2015 in the Kurdistan region of Iraq, in connection with the operation of an illegal weapons manufacturing plant in Kurdistan. According […]
Video: Brawl Delays Session of Kurdistan Parliament
By John Lee. Shafaq News Agency has publised a video clip of a brawl in the Kurdistan Parliament on Monday (22nd May). Click here to view. (Source: Shafaq News Agency)
Iraq Increases Funding for Small Projects
By John Lee. Iraq's Cabinet has approved a substantial capital increase in the Fund for Supporting Small Income-Generating Projects. The fund's capital will be increased from the previous amount of 150 billion dinars to 1,350 billion dinars ($1 billion). According to a government statement, this expansion is part of the Ministry of Labor and Social […]