KRG issues Investment Guide with New Opportunities
By John Lee. The Kurdistan Regional Government (KRG) has issued a new 77-page guide for investors in the region. It lists opportunities in many sectors of the economy, along with useful data and background information. Click here to download the full report. (Source: KRG)
AA to distribute Laboratoires Gilbert in Iraq
Iraq Britain Business Council (IBBC) member AA for Global Trading and Commercial Agencies has announced that it has started importing the products of Laboratoires Gilbert of France to Iraq, as per an agreement signed in 2020. Based in France's Normandy region, Laboratoires Gilbert manufactures and markets 30 brands and 1,900 references such as Physiodose, Physiolac, […]
Iraq may Buy Drones from Turkey
By John Lee. Iraq is said to be interested in buying unmanned aerial vehicles (UAVs), attack helicopters and military hardware from Turkey. Defense Minister Juma Anad Saadoun is quoted as saying that Iraq has already reached agreement with Turkey to purchase Bayraktar TB2 drones, made by Turkey's Baykar Defence. According to Breaking Defense, any decision […]
GKP Shares Rally on Half-Year Results
By John Lee. Shares in Gulf Keystone Petroleum (GKP), a leading independent operator and producer in the Kurdistan Region of Iraq, were trading 12 percent higher today after the company announced its results for the half year ended 30 June 2021. Jon Harris (pictured), Gulf Keystone's Chief Executive Officer, said: "I am pleased to report […]
DNO Completes $400m Bond Placement
DNO ASA, the Norwegian oil and gas operator, has completed the private placement of USD 400 million of new five-year senior unsecured bonds with a coupon rate of 7.875 percent. The placement met strong investor demand across international markets and was significantly oversubscribed, leading the Company to upsize the new bond issue from USD 300 […]
Iraq Oil Exports Exceed 3m BPD
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for August of 94,660,239 barrels, giving an average for the month of 3.054 million barrels per day (bpd), up from the 2.918 million bpd exported in July. The exports from the oilfields in central and southern Iraq amounted to approximately 91,655,930 barrels, while […]
KRG to tackle Cost of Bread
By John Lee. The Kurdistan Regional Government has said it is working on addressing the rising costs of bread and other basic commodities. In a statement, it said that the relevant ministries and administrative authorities will aim to assist bakeries in the near term, and address the reliance on imported flour in the long term […]
Al-Sadr Reverses Decision to stay Out of Iraqi Elections
By Hassan Ali Ahmed, for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Muqtada al-Sadr reverses decision to stay out of Iraqi elections After his withdrawal from October elections due to public anger against the ministers of health and electricity - […]
Iraq ratifies Mauritius Convention on Transparency
With the deposit of the instrument of ratification at the UN Headquarters in New York, Iraq becomes the ninth State Party to the United Nations Convention on Transparency in Treaty-based Investor State Arbitration, also known as the "the Mauritius Convention on Transparency". Iraq joins Australia, Benin, Bolivia, Cameroon, Canada, Gambia, Mauritius and Switzerland as a […]
Nokia to build Asiacell's Next-Gen Microwave Network in Iraq
By John Lee. Finland's Nokia today announced that Asiacell Telecom has chosen Nokia to build its next-generation microwave network in Iraq. In the five-year deal, Nokia's Wavence microwave packet radio will help Asiacell address demand for more capacity and provide fiber-like connectivity everywhere, including remote and difficult-to-reach areas In a press release, Nokia said that […]
Baghdad Summit "Clear Win" for Kadhimi
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Even without breakthrough, Baghdad summit clear win for Kadhimi The Aug. 28 Baghdad Conference for Cooperation and Partnership ultimately managed to gather senior officials from neighboring and regional countries in a bid to […]
Opening of Village Dairy Centers for Milk Processing
First Opening of Village Dairy Centers for Milk collection, Processing and Marketing in Nineveh Governorate For the purpose to complement the humanitarian efforts carried out by the United Nations in Nineveh Governorate, and within the framework of supporting income generation for returning families and local communities, the Food and Agriculture Organization of the United Nations […]