Dubai Chamber of Commerce and Industry has urged Iraqi banks and financial companies to expand their networks within the Islamic economy through Dubai which is working hard towards becoming the capital of Islamic Economy in the World during a roundtable discussion on “Islamic Finance” held in Divan Hotel, Erbil, Kurdistan. The meeting, which identified the […]
Dubai Investments PJSC [DI] has announced that Dubai Investments International – its wholly-owned subsidiary targeting overseas expansion, is currently tapping into business opportunities in Africa and Asia. As a first step in scaling up its overseas operations, DI International is targeting investments, joint ventures and strategic partnerships across Africa and Asia, and also eyeing commercial […]
By John Lee. Dubai's Dragon Oil reports that it has spudded an exploration well using a drilling rig from the Iraqi Drilling Company. The well is targeting two prospective reservoirs, and testing is expected to take place in 2H 2014. The consortium consists of Dragon Oil (30 percent) and Kuwait Energy Corporation (70 percent and […]
By John Lee. Arab Bridge Maritime, the joint venture established by the governments of Iraq, Jordan and Egypt in 1985, is planning a two ferry service between Basra and Dubai. The venture will initially cost $2 million per year based on the hiring cost of the ferries, and if successful the ferries will be purchased, […]
By John Lee. Iraq is now among the biggest spenders in the Middle East when it comes to planned or under-way infrastructure projects, rivalling the expenditure of Saudi Arabia and the UAE, according to the MEED's Gulf Project's Index. Iraq's southern neighbours are spending $1.o5 trillion and $713bn respectively,but Iraq's rising expenditure on energy projects […]
By John Lee. Dubai Chamber of Commerce and Industry (DCCI) plans to open an office in Iraqi Kurdistan during the first quarter of 2014. Hamad Buamim (pictured), DCCI president and CEO, told Gulf Business: “Kurdistan is a market that is experiencing considerable growth ... “Iraq as a whole, given its rebuilding efforts, has significant potential […]
By John Lee. Dubai-based MAG Container Lines (MCL), a division of the multinational MAG Group, has added three new automated vessels to its existing fleet on the UAE-Iraq route. According to the report from TradeArabia, the addition of the Al Hussein, MAG Bride (pictured) and MAG Pearl boosts the company's potential capacity on the route by 60 […]
Prime Minister Nechirvan Barzani kicked off the nearly-$3-billion “Downtown Erbil” project on Sunday, calling the venture that is estimated to create 35,000 jobs and transform the face of the Kurdish capital, “a milestone for the Kurdistan Region.” “This project will be a source of pride and a source of income for thousands of families,” Barzani […]
The Iraq Club is a business-focussed forum run by people who understand the nature of doing business in Iraq. This exclusive network brings together senior professionals to share experiences of working in Iraq’s energy and construction sectors. Our guests make connections that will help them solve the particular challenges they are facing in country. Please note […]
By John Lee. Dubai-based Emaar Properties is expected to sign a contract worth over $2 billion with Kurdish company Faruk Group Holding to develop a resort in Sulaymaniyah. Herish Muharam Muhamad, chairman of Kurdistan Investment Board (KIB), said the Dukan tourist city project will include hotels, restaurants, residential areas, cinemas and casinos. Emaar last year signed […]
Foreign Minister Hoshyar Zebari inaugurated on June 6, 2013 the first Iraqi passports issuance center abroad in the Consulate General of the Republic of Iraq in Dubai. This center is connected to the central office in Baghdad and will save the Iraqi people a lot of effort, time, travel and facilitations, the center was established […]
Dubai-based DAMAC Properties has announced a comprehensive strategic plan to expand its operations to Iraq. The company has begun work on Princess Tower – a 26-storey, luxury furnished apartment complex in the heart of the Iraqi capital, Baghdad. The US$ 100 million project is the first stage of a long-term commitment to the country, said […]
