Switzerland supports reopening Embassy in Baghdad
By John Lee. Iraq's Deputy Prime Minister and Foreign Minister, Fuad Hussain, met with Swiss Foreign Minister, Ignace Cassis, on Tuesday, on the sidelines of the Davos conference. Minister Hussain emphasized that Iraq is playing a role in bringing the perspectives of some regional countries together, with the aim of creating a stable environment in […]
KRG Clears 2m+ Square Meters of Mined Land
By John Lee. The Kurdistan Region Government (KRG) has issued data on the clearance of mined land over the past year: 2,316,756 square meters of land was cleared of mines and IEDs in the Kurdistan Region in 2022. 47 fields were cleared of landmines, with 27 cleared by the Iraqi Kurdistan Mine Action Agency (IKMAA) […]
Iraq's Economic Outlook "looks Bright"
By John Lee. The Founder and Chairperson of Iraqi stockbroker Rabee Securities has said that he is optimistic for the year ahead in Iraq. Shwan Ibrahim Taha told TradeArabia: "I am optimistic about Iraq's outlook; we will witness a gradual increase in production to reach five million barrels by 2028. Any significant downside in oil […]
Japan's Sumitomo seeks business in Iraqi Kurdistan
By John Lee. The General Manager of Japan's Somitomo in Iraq, Mr Miyaki, met with the Minister of Municipalities and Tourism of the Kurdistan Regional Government (KRG), Sasan Auni, to discuss expanding coordination and joint projects in the Kurdistan Region. The meeting follows a previous visit by the Minister and a delegation to Japan where […]
Turkish Exports to Iraq Up 16.4%
By John Lee. Exports from Turkiye (Turkey) to Iraq reportedly increased by 16.4 percent in 2022. According to data issued by the Turkish Exporters Association (TIM), Turkiye sold goods and services valued at $10.4 billion to Iraq during the year, up from $9.0 billion the year before. Meanwhile, Turkish projects in Iraq were valued at […]
Iraq - Country Climate and Development Report
In Iraq, a multidimensional development and climate crisis is brewing. Iraq's oil-dependent development model, weakening human and institutional capacity, and its deep social divides and inequalities are ingredients of a "perfect storm" centering on a development-climate-fragility nexus. Climate change threatens the social contract in Iraq, which has already been eroded by elite capture, widespread clientelism, […]
Iraqi Passport Ranks near Bottom of the List
By John Lee. Iraqi passports have ranked second-last in an index of 109 passports. The Henley Passport Index is based on data from the International Air Transport Association (IATA) and shows Iraq in 108th place, just ahead of Afghanistan, and behind neighbours such as Syria and Iran. Japan topped the list, ahead of Singapore and […]
CBI Approves Sale of Bank of Baghdad
By John Lee. Kuwait's Burgan Bank has announced that the sale of its 51.8-percent share in Bank of Baghdad (BBOB) to Jordan Kuwait Bank (JKB) has been approved by the Central Bank of Iraq (CBI). The deal's completion is subject to the fulfilment of legal documentation and Iraqi Stock Exchange requirements. Burgan Bank is a […]
Genel Energy starts 2023 with "Strong Balance Sheet"
Genel Energy has issued the following trading and operations update in advance of the Company's full-year 2022 results, which are scheduled for release on 22 March 2023. The information contained herein has not been audited and may be subject to further review. Paul Weir (pictured), Chief Executive of Genel, said: "Genel starts 2023 with a […]
DNO update on Production and Sales
DNO ASA, the Norwegian oil and gas operator, will publish its Q4 and full-year 2022 operating and interim financial results on 9 February 2023 at 07:00 (CET). A videoconference call with executive management will follow at 11:00 (CET). The Company issues below an update on production and sales volumes for the quarter as well as […]
Siemens to provide more Electricity Generation to Iraq
By John Lee. Federal Government welcomes Germany's contribution to the sustainable development of Iraq's energy infrastructure The CEO of Siemens Energy AG, Dr. Christian Bruch, has signed a cooperation agreement with the Iraqi Minister of Electricity, Zayad Ali Alrzij [Ziyad Ali Fadel, Ziad Ali Fadhil Sudani], on the further electrification of Iraq. The agreement was […]
Increased Scrutiny of Land Allocation at Baghdad Airport
By John Lee. Prime Minister Muhammad Shia Al-Sudani has chaired a meeting to discuss the best use of lands surrounding Baghdad International Airport (BIAP). He ordered a ban on the granting or investment licenses and what was described as the "illegal disposal" of these lands, and stressed that any projects being implemented in this region […]