By John Lee. Greek construction company Archirodon has filed a petition to enforce an arbitration award against the General Company for Ports of Iraq, the Iraqi Ministry of Transport, and the Republic of Iraq. According to Offshore Alert, the company is claiming $105 million relating to an arbitration award that was granted three years ago. […]
Tag Archives | Greece
Why 8000 Investors Chose Greece Golden Visa
Advertising Feature The Greece Golden Visa is a residency by investment program. It allows investors the opportunity to invest in Greece's real estate sector, in exchange for a permanent residence there. Data from Enterprise Greece (an official agency of the Greek State) indicate that a total of 8.011 investors have gained Greece Golden Visa. The […]
Ouzo Gains Popularity in Iraq
By John Lee. Greek ouzo has reportedly become extremely popular in Iraq in recent years, with imports increasing steadily. According to greekreporter.com, ouzo is now replacing Iraq’s popular arak, a transparent drink very similar to Greece’s ouzo or raki. Komotini-based company Distillery Winery of Thrace claims to have an 85-percent share of the Iraqi ouzo […]
Turkish Police Bust Iraq Car-Smuggling Gang
By John Lee. Five suspected members of an organized crime ring that was smuggling stolen cars into Iraq have reportedly been arrested in Turkey. Police detained three members of the gang, one of them a Greek national, at a customs office in Istanbul after they cleared a luxury Jaguar through customs. They later detained a […]
Flights from Greece to Iraq to Resume
By John Lee. The Iraqi Civil Aviation Authority (ICAA) has reached an agreement with its counterpart in Greece to re-start flights between the two countries, following a meeting between the parties on Tuesday. According to a report from Neos Kosmos, there will be 10 passenger flights and two cargo flights per week, commencing on Saturday 4th […]
Greece Opens Erbil Consulate
By Simon Kent. Greek Foreign Minister Nikos Kotzias has announced the opening of a consulate in Erbil, capital of the semi-autonomous region of Iraqi- Kurdistan. Greece already has an embassy in Erbil, and the announcement suggested the new consultate will "substantially upgrade" the country's diplomatic presence in Iraq. (Source: Independent Balkan News Agency)
Video: Iraq Migrants leave Greece for Macedonia
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Hundreds of Syrians and Iraqis cross the border from Greece into Macedonia.
Low Oil Price Threat to Iraq's Eurobond Bid
By Simon Kent. A recent report by Standard & Poor gave Iraq a B- foreign currency rating, indicating significant risk for investors, but nonetheless noted that in the short term, the economy would remain stable with 0.3% growth and longer term, up to 5% from rising oil output up to 2018. That is the good news […]
'Settlement Agreed' in Oil Shipping Case
By John Lee. A Greek shipping company has reportedly agreed to settle with Baghdad over its role in the export of crude oil from Iraqi Kurdistan, which Baghdad regards as illegal. Last September, the federal government in Baghdad filed a $300-million lawsuit against Marine Management Services (MMS), and subsequently banned three of its oil tankers from […]
Investors may be sought for Grand Faw Port
By John Lee. Iraqi Transport Minister Baqr Jabr Al-Zubeidi (pictured) has said that Iraq is considering seeking foreign investors to fund the multi-billion-dollar Grand Faw [Grand Fao] port project. Emirates 24/7 quotes the Minister as saying that the transport ministry is unable to execute the $6-billion (7-trillion-Iraqi-dinar) project, and is considering awarding the project "on […]
Iraq Bans KRG Tankers
By John Lee. Platts reports that Iraq has banned three oil tankers from loading at its oil terminals. in response to direct exports of crude by the Kurdistan Regional Government over the objections of Baghdad, shipping market sources said Friday. The United Carrier (pictured), the United Dynamic and the Nautilus have previously transported crude on […]
Iraq Sues Shipping Firm for "Illegal" Kurdish Exports
By John Lee. Iraq has taken legal action against Greece’s Marine Management Services (MMS) over its role in the export of crude oil from Iraqi Kurdistan, which Baghdad regards as illegal. The tanker concerned, the Marshall Islands-flagged United Kalavrvta (pictured), is still said to be fully laden off the coast of Texas, carrying $100m worth […]