Iraq Business News brings you the latest news from Erbil, Kurdistan, Iraq – including Banking, Airlines, Hotels, Property and more.
DNO International today [Wednesday] received a second payment of USD 60 million from the Kurdistan Regional Government in respect of oil exports from the Tawke field operated by the Company in northern Iraq. A first payment of USD 103.7 million was received in June 2011. The Company had previously reported temporary reductions in production from […]
The Iraqi-Italian Economic Forum was opened in Erbil on Monday, with the participation of between 40 adn 50 Italian companies, along with representatives from the Italian Chambers of Commerce and Industry and Iraqi Chambers of Commerce. The forum, also attended by Iraqi Kurdistan Region’s Minister of Industry & Trade, Sinan al-Chalaby [Chalabi] and the Minister […]
Hilton Worldwide is set to open its first hotel in Erbil, the flourishing capital city of Iraqi Kurdistan, under a management agreement with New York based real estate developer The Claremont Group. Comprising of 200 serviced apartments, DoubleTree Suites by Hilton Erbil is expected to open at the end of 2013. The new hotel will […]
Erbil’s employment committee announced today that it has overseen for the first time the recruitment of 1,868 new primary and secondary school teachers in the province. AKnews reports that the names of the new recruits were announced in a ceremony at the Health Directorate Conventions Hall at the heart of the provincial capital. At the […]
The UK's Middle East Association (MEA), in partnership with UK Trade & Investment, Invest Northern Ireland and the Kurdistan Regional Government, will be leading a Trade Delegation to Iraqi Kurdistan from 23rd to 28th October to coincide with the seventh Erbil International Trade Fair, Iraq’s largest general trade exhibition. Mission Participants will have the opportunity […]
Iraq’s oil wealth is massive, with significant economic potential for years to come. Unfortunately, development is being hampered by endemic violence and ongoing instability. However, the main reserves are not evenly distributed around the country and neither is the violence. By avoiding the violent hotspots companies can still make significant profits with minimal exposure to […]
The capital of Iraqi Kurdistan is seeing a building boom, as developments go up at around the same rate as real-estate prices rise. Despite all the construction, though, the average citizen still can’t afford their own home. At times Erbil resembles a building site. Construction sites, both residential and commercial, dot the cityscape. Yet the […]
A new school funded by the Kuwaiti government was opened in Erbil on Sunday. AKnews reports that the school, which is one of the seven schools that Kuwait plans to construct across Iraq to assist education in the country, was built at a cost of $2.5 million [3 billion Iraqi dinars]. It is located in […]
A new children’s hospital in Kurdistan won a prestigious international design award at a ceremony in Boston on July 9th. The hospital, which was commissioned by the Kurdistan Regional Government, will be the first in Kurdistan dedicated to the treatment of children. The vision for the children’s hospital in Erbil, capital of the Kurdistan Region, […]
The Turkish AlBaraka Bank will open a branch in Erbil in August, according to a report from Turkish Weekly. It would be Albaraka's first branch in a foreign country. "The Erbil branch will contribute to bilateral relations between Iraq and Turkey," Albaraka's director general Fahrettin Yahsi said. There have been reports of AlBaraka opening an […]
Etihad Airways, the national airline of the United Arab Emirates, will double its flights from Abu Dhabi to Erbil at the beginning of September. The current twice-weekly service will increase to four services per week, complementing Etihad's daily operation to its other Iraqi destination, Baghdad. Etihad commenced two-class Airbus A320 operations to Erbil in June […]
Erbil property has been one of the best investments in Iraq over the past year. While the ISX is up about 50% over the last twelve months, prices for residential and office space in the Kurdish capital have more than doubled. 600 sq m single detached houses in the city’s Italian Village development, for example, […]
