The latest investment news from Iraq – news on the Dinar, finance and more – brought to you by Iraq Business News
Committees don't just sit around in Iraq. On 19th October the Iraqi government created a committee to increase business and economic relations with Turkey. Now, a member of the committee has said that the two countries are going to increase commercial exchange up to $12bn in 2011, reports AKNews. This is a more than three-fold increase on previous […]
Baghdad's airport road was considered the most dangerous motorway in the world, but the city is now turning it into "the most beautiful street in the world", according to AFP. The US military had called it "RPG alley" (that's rocket-propelled grenade), as road users were at the receiving end of particularly frequent attacks during 2006 and 2007. […]
It may be that the International DBX Trade Fair in Sulaymaniyah city in the Kurdistan region was one trade fair too many in Iraq, as it was unable to draw in the numbers that it wanted to in the four days to Sunday, 14th November. And yet, despite being held in the middle of nowhere easy […]
By Stan Harbison, Vice President of Research and Analysis at energy consultants EPRINC. The current efforts to dramatically increase Iraq’s oil production are huge in scale and revolutionary in forming a working partnership between Iraq’s own oil industry and the world’s largest oil companies. But more important at the present is the fact that they […]
Further to our reports of major gas contracts being agreed in principal on 20 October for three fields holding 11 trillion cubic feet of gas (4 trillion cubic metres), most of them have now been signed. Turkish Petroleum Corporation (TPAO), Kuwait Energy and Kogas won the right to operate Iraq's Mansuriyah gas fields and have committed to producing 320m cubic feet of […]
Project management specialists Parsons Brinckerhoff stated the obvious this week by saying Iraq is “risky, but full of opportunity”. After the war, the security and energy sectors were the most obvious risky opportunities. Re-building Iraq's decaying and war-torn infrastructure has come a close second. Since then, however, opportunities have snowballed into retail and agriculture, and […]
Request for expressions of interest: Technical assistance to Kurdistan Investment Board The Kurdistan Board of Investment of the Kurdistan Regional Government (BoI - KRG) seeks professional assistance to enhance the quality of the board's evaluation process from various perspectives, including the technical review and assessment of the investment proposals submitted to the board. The main […]
Iraq's developing situation continues to astound me when I contrast it with much of the west. Take the UK, where Prime Minister David Cameron has on 20 October announced £81bn ($127bn) of cuts from total government expenditure of £661bn ($1,040bn), the largest budget cuts in decades by a large margin. All this it needs to […]
Iraq's oil pipelines are decades past their use-by-date. “We are afraid of anything happening to them,” said Deputy Oil Minister Ahmad Shamma, according to Iraq Oil Report. US concerns for the ageing infrastructure were pushed as early as 2008, but now billions of dollars are being invested to create new pipelines to protect Iraqi oil […]
Kurdistan's sixth international trade fair in Erbil opened on Monday with 850 companies from 25 countries. Hundreds of companies are at the fair for the first time. Albert Awun of EFB Arak, which organised the fair, told AKnews: "The percentage of the participating new companies in the exhibition compared to last year is about 50%, while the […]
The city of Karbala in central Iraq has stretched its 90bn-dinar budget ($75m) to hundreds of investment projects and has now been granted another 12bn dinars ($10m) by Iraq's Finance Ministry. As our blogger Stewart Blair wrote this month: "UAE property developers/investors have been active in the south where mixed use developments in Karbala are springing up […]
Iraq is to get new power plants in order to boost its energy capacity by 2,500 megawatts, reports Reuters. This will significantly add to its meagre total current production, which is around 5,500 megwatts. All the contracts for the 20 gas turbines, which were bought from General Electric, have been awarded to three Turkish companies. The contracts are […]
