Shares in Genel Energy were trading down 3.5 percent on Thursday morning following the company's trading and operations update in respect of the third quarter and first nine months of 2021. The company said it now expects production in the year to be slightly below the 2020 average of 31,980 bopd. Bill Higgs, Chief Executive […]
UNFPA launches Social Responsibility Skills for Young Entrepreneurs Project UNFPA and the Ministry of Labour and Social Affairs with the Ministry of Culture and Youth in the Kurdistan Regional Government launched the Social Responsibility Skills for Young Entrepreneurs project in Erbil. The project was based on the success story of the "Orange Corners Erbil Programme" […]
By John Lee. The Kurdistan Regional Government (KRG) has recently launched what it describes as "two massive electricity projects" in Makhmour. They are the Bnar power station, built by the Girshin Company, and a 33 KV power-line at Qaraj, implemented by Palos. The projects have a combined cost of 1.742 billion dinars [$1.2 million]. (Source: […]
By John Lee. The Prime Minister of the Kurdistan Regional Government (KRG) has opened a new wheat marketing center in Erbil, a year after announcing the project. In a statement on Twitter, Masrour Barzani said: "In less than a year, we are back to inaugurate the $250-million wheat marketing project in Erbil. A great new […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Tomato farmers say they're making a loss Tomato farmers in the Kurdistan Region say they are making a loss after a tough year, dealing with water shortages and finding a market for their produce. […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Kurdistan's unemployed youth blame the government The Kurdistan Regional Government (KRG) has banned imports of tomatoes from Iraq, following protest from farmers because of the low price of their fruit. Click here to read […]
By John Lee. The head of the Kurdistan Board of Investment has reportedly said that it has granted of 112 licences for factories making construction materials, with the intention of helping to ease the housing crisis in the region. According to the report from IQ News, the total investment is valued at $4 billion. (Source: […]
By John Lee. The Kurdistan Regional Government's Council of Ministers approved on Wednesday the Agricultural Projects Oversight Bill. According to a statement from the KRG, the bill will play a significant role in creating new jobs for recent graduates, notably from agricultural colleges and institutes. (Source: KRG)
By John Lee. The Kurdistan Regional Government (KRG) has issued a new 77-page guide for investors in the region. It lists opportunities in many sectors of the economy, along with useful data and background information. Click here to download the full report. (Source: KRG)
By John Lee. The Kurdistan Regional Government has said it is working on addressing the rising costs of bread and other basic commodities. In a statement, it said that the relevant ministries and administrative authorities will aim to assist bakeries in the near term, and address the reliance on imported flour in the long term […]
By John Lee. Shares in Genel Energy fell more than 15 percent in mid-morning trading after the company announced that the Kurdistan Regional Government (KRG) intends to terminate its contracts at Bina Bawi and Miran. In a statement, the company said: "Genel has received notice from the Ministry of Natural Resources of the Kurdistan Regional […]
The Kurdistan Regional Government (KRG) has announced that it will be allocating 2.5 billion dinars in funds to combat droughts across the region and 1.5 billion dinars in emergency funds to address urgent water shortages in the Erbil province. As the first phase of its water security strategy, the government will be distributing funds to […]
