By John Lee. An arbitration tribunal has been appointed in the case of Agility Public Warehousing Company K.S.C. v. Republic of Iraq (ICSID Case No. ARB/17/7). Its members are: Sarah Grimmer (New Zealand), President, appointed by agreement of the Parties; Stephen L. Drymer (Canadian), appointed by Claimant; and Dr. August Reinisch (Austrian), appointed by Respondent. […]
By John Lee. Iraq's Communications and Media Commission (CMC) has ordered the immediate suspension of internet services for Korek Telecom due to what it described as outstanding debts and continued violations. A statement from CMC said the decision aims to pressure the company into settling its financial obligations. The CMC has formally requested the Ministry […]
By John Lee. Kuwaiti logistics firm Agility has announced that Iraq's Korek Telecom has been ordered to pay it nearly $1.2 billion in damages. The judgement by International Chamber of Commerce (ICC)'s International Court of Arbitration relates to allegations of fraud and corruption orchestrated by Korek with a view to unlawfully causing the expropriation Agility's […]
By Dr. Joel Ruet, for Diplomatic Courier. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Foreign investment undermined by corruption risks in Iraqi Kurdistan Iraqi Kurdistan was once seen as a beacon of promise in the troubled country, but things have changed in recent […]
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Korek Telecom external telecommunications operational, says company rep The Kurdistan Region's premier telecommunications company, Korek Telecom, has announced that its international and cross-company communications are now operational and that it has resolved its issues […]
By John Lee. Erbil-based telecommunications company Korek Telecom has reportedly been blocked from communicating with other domestic and international carriers, according to Rudaw. This follows a public announcement last week from Iraq's Communications and Media Commission (CMC), which threatened to disconnect the company if it did not pay its financial obligations: "Based on the expiration […]
By John Lee. The head of Iraq's Communications and Media Commission (CMC) has said the regulator has won a judicial decision against Korek Telecom, obliging the company to pay approximately $800 million to the Iraqi state treasury. The decision resolves a long-standing legal dispute between the commission and the company over unpaid dues, and Dr. […]
By John Lee. The International Court of Arbitration of the International Chamber of Commerce (ICC) has released its findings in the arbitration case between Iraq Telecom Limited, a subsidiary of Kuwait's Agility Public Warehousing Company KSCP, and International Holdings Limited, an affiliate of Agility, as claimants; and Korek Telecom Limited and Sirwan Saber Mustafa Barzani, […]
From OpenSignal: Asiacell users have the fastest experience in Iraq Asiacell remains unbeaten in the average speeds seen by our Iraqi users. The operator wins Download Speed Experience and Upload Speed Experience for the third consecutive time, meaning no other Iraqi operator has won either award since we began reporting on the Iraqi mobile network […]
By John Lee. The Station Foundation for Entrepreneurship has opened its fourth branch in Erbil, According to a press release from The Station, the opening marks a significant step forward in ensuring that Kurdistan's youth can contribute to the ecosystem's enhancement and build a connected network of entrepreneurs, creatives, and innovators who can reach across […]
By John Lee. TipTop has announced a new investment of $5 million to expand its online food and grocery delivery service in Iraq. CEO and Founder Hassan Alsoud told readers on LinkedIn that the funding will be provided by Kurdistan-based mobile operator Korek. (Source: LinkedIn)
By John Lee. [Amended 7th Oct 2021 to include comment from Korek Telecom.] UAE-based Agility has announced an arbitration decision by the Lebanese Arbitration Center of the Chamber of Commerce, Industry and Agriculture of Beirut and Mount Lebanon, in the lawsuit filed by its subsidiary Iraq Telecom against the Intercontinental Bank of Lebanon (IBL) and […]
