Dubai's Majid Al Futtaim Holding (MAF), sole franchisee of hypermarket chain Carrefour in the Gulf, is to set up a sukuk programme (debt securities structured to comply with the Islamic law) as market volatility continues to thwart its plans for a conventional issue, according to a report from Reuters. MAF completed roadshows for an offering […]
Paris Gallery, the Dubai-based luxury retailer, has scrapped plans to expand in Syria, Egypt and Lebanon, following the unrest in parts of the Middle East. Instead, the perfumes and cosmetics retailer will focus on economies it considers more stable, such as Iraq, Turkey, Azerbaijan and India. "We opened one store in Aleppo, but the process […]
Reuters reports that Iraq has approved six more energy companies to participate in its 4th energy auction, raising the number of pre-qualified bidders to 46. "We have six companies that were not qualified first, but after reviewing their information, we asked them to submit further documents to support their position. We have decided to qualify […]
Emirates will commence passenger flights to Baghdad from the 13th November 2011, marking the airlines’ second destination in Iraq. Operating four times per week Baghdad will be Emirates’ fifth international destination to launch in 2011 with Basra and Geneva already operational and Copenhagen and St Petersburg to follow on 1st August and 1st November respectively. […]
Emirates has marked its 110th international destination today with its inaugural flight to Basra, the airline's first service into Iraq. Emirates is the largest international carrier to operate services into Iraq, helping link the country to the rest of the world through its convenient connections in Dubai. “Iraq is experiencing a surge in growth and […]
Basra will be Emirates' first Iraqi destination since the airline postponed the launch of flights to Baghdad earlier this year citing "operational reasons", according to Reuters. "The city's recent growth has paved the way for numerous multinational companies and industries to invest in infrastructure and we have seen strong potential from a number of our […]
Iraq's Transport Minister, Shirwan al-Waeli [al-Waili], met with the deputy president of DP World (formerly Dubai Ports Authority) on Monday in Basra, to discuss signing a deal between Iraqi and Dubai ports, according to Aswat al-Iraq news agency. “Talks between the two sides tackled steps to implement the deal between the two sides,” said Anmar […]
Flydubai, Dubai's first low cost airline, has announced flights to destination number 22, Erbil in Iraq. Flights to Iraq's third largest city and capital of the Kurdish region of Northern Iraq, will start on Friday, July 16. Flydubai's CEO, Ghaith Al Ghaith, said, "Erbil is reinventing itself and undergoing an economic boom with new hotels, […]
Dubai UAE developers and companies are considering investments worth $70 billion (Dh257 billion) throughout Iraq, according to a top Iraqi official.
