New Direct Flights between Kirkuk and Antalya
By John Lee. Iraqi Airways is to launch direct flights between Kirkuk and the Turkish city of Antalya from 14 July, operating twice weekly on Tuesdays and Fridays. The airline's Director General, Manaf Abdul Moneim, said the new route coincides with the summer holiday season and rising passenger numbers, with the twice-weekly schedule intended to […]
OCCRP: Iraq Intensifies Anti-Graft Drive
By Mujab Salaheddine, for OCCRP. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Intensifies Anti-Graft Drive with Dozens of High-Profile Arrests, Asset Seizures While the government's latest crackdown resulting in the arrest of top officials and the seizure of millions has won praise, […]
JP Morgan to Arrange Financing for $1.6bn Basra Urea Plant
By John Lee. KAR Electrical Power Plant Production Trading FZE (KEPPT) has engaged JP Morgan to arrange development financing for a $1.6 billion urea plant in Basra. According to a statement from KEPPT, the company will work with the bank to progress financing for the project in conjunction with several leading export credit agencies. The […]
Iraq, Germany's GIZ discuss Energy Transition
By John Lee. Iraq's Ministry of Planning has held talks with Germany's Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) on preparing a proposed strategic project to support the transition in Iraq's electricity and renewable energy sector. According to a statement from the Ministry, the project, which remains under study, aims to develop sector policies, improve energy […]
Ministry of Trade launches Mechanism to Report Corruption
By John Lee. The Ministry of Trade has launched official channels for reporting corruption cases within its departments, to be overseen directly by the Minister. According to the Ministry of Trade, citizens and staff are being encouraged to submit reports backed by documents or evidence of corruption or the waste of public funds, via a […]
Basra-Baku Route to launch on Wednesday
By John Lee. Iraqi Airways will begin direct flights between Basra and Baku today (Wednesday), operating one flight per week as part of plans to expand its international network and meet growing demand for travel. The company's Director General, Manaf Abdul Moneim, said the new route responds to increased seasonal demand and gives passengers from […]
World Bank Backing for Iraqi Entrepreneurs
By John Lee. Iraq's Ministry of Planning has held a meeting with representatives of the World Bank to discuss cooperation on supporting entrepreneurship, empowering small and medium-sized enterprises (SMEs), and creating a more efficient and attractive business environment for investment. According to a statement from the Ministry, Sunday's meeting discussed a proposed programme aimed at […]
Buy the Rumour, Sell the News; yet the Market Rises Further
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Buy the Rumour, Sell the News; yet the Market Rises Further The market, as measured by the Rabee Securities U.S. Dollar Equity Index (RSISX USD Index), closed […]
Halliburton to Boost Output at Two Iraqi Oil Fields
By John Lee. Basra Oil Company (BOC) has signed a five-year contract with US firm Halliburton for the integrated management of the Nahr Bin Umar oil field and Sindbad field. The signing took place under the auspices of Minister of Oil Basim Muhammad Khudhair al-Abadi, in line with government plans and directives from Prime Minister […]
Studies Approved for New Iraqi Oil Export Pipelines
By John Lee. The Council of Ministers has approved the signing by Basra Oil Company (BOC) of a Heads of Agreement (HOA) and a non-disclosure agreement (NDA) with a consortium comprising US firm Capital TI, Qatar's UCC [Urbacon Trading & Contracting], and US major Chevron. The approval allows for a state-owned company to be added […]
Ministers Discuss Progress of Iraq-Jordan Economic City
By John Lee. Iraq's Minister of Industry and Minerals, Mohammed Nouri, received his Jordanian counterpart, Minister of Industry, Trade and Supply Yarub Qudah, along with an accompanying delegation, on Thursday. The two sides held a meeting to discuss ways of strengthening industrial and trade cooperation, and expanding joint coordination in areas serving the shared interests […]
Iraq, Jordan Discuss Basra-Aqaba Oil Pipeline Project
By John Lee. Iraq's Prime Minister, Ali al-Zaidi, held talks on Thursday with a Jordanian ministerial delegation led by Jordan's Minister of Industry, Trade and Supply, Yarub Falah Al-Qudah, with Iraq's Minister of Industry and Minerals, Mohammed Nouri Ahmed, also in attendance. According to the Ministry of Industry and Minerals, the Jordanian delegation also included […]