By John Lee. DNO ASA confirmed on Friday morning it does not intend to make an offer to acquire Genel Energy plc, following the Genel board's refusal to engage with its proposal. Genel shares fell more than 10% on the news. DNO had proposed 69 pence per share in cash, with a cash-and-share alternative. The […]
By John Lee. Plans to expand Iraq's customs automation system and introduce pre-payment of customs duties are under active review. Finance Minister Faleh Sari chaired a meeting on Wednesday with officials from the General Customs Authority and experts from the United Nations Conference on Trade and Development (UNCTAD) to discuss next steps. According to the […]
By John Lee. Iraq has set a target of raising oil production to around 10 million barrels per day (bpd) by 2030, under a strategic plan covering the period 2027-2030. According to the Prime Minister's Office (PMO), Prime Minister Ali al-Zaidi chaired a meeting at the Ministry of Oil attended by the ministers of finance […]
By John Lee. SalamAir is to begin direct flights between Muscat and Erbil from 25th October. The Omani low-cost carrier says the route will offer affordable direct connections between the two cities. (Source: SalamAir)
By Professor Oday Talal Mahmood, for JURIST. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Cannot Say Where $76 Billion Went, and No Law Compels It To Fourteen governorates share 2.8 percent of Iraq's national budget. Ministries in Baghdad direct 87 percent. Nothing […]
By John Lee. Iraq's Ministry of Trade has begun updating its Initial Goods Offer file as part of the technical requirements for the country's accession to the World Trade Organization (WTO). The work is being carried out by the Goods Trade Committee, a technical sub-committee of the national committee overseeing WTO accession, in coordination with […]
By John Lee. An Iraqi delegation has reportedly held talks with Iran on the smooth passage of oil tankers through the Strait of Hormuz, with expectations of reaching an understanding within the coming days. Minister of Oil Basim Muhammad Khudhair al-Abadi told the state-run Iraqi News Agency (INA) that the government's approach is based on […]
By John Lee. Iraq's prime minister has pledged to pursue corruption cases without exception, seek a fairer OPEC production quota, and announce a political and economic partnership with the United States, in a wide-ranging interview broadcast on Al Arabiya. Ali al-Zaidi told Al Arabiya that anti-corruption efforts would be pursued without regard to sectarian, ethnic, […]
By John Lee. SANY, a Chinese manufacturer of construction and heavy equipment, is now officially available in Iraq through a partnership with Khoshnaw. The company's product range includes excavators, wheel loaders, cranes, road machinery, and concrete equipment. SANY equipment is used in more than 180 countries worldwide Products will be distributed in Iraq and the […]
By John Lee. The World Bank has approved a $900 million financing package to rehabilitate and expand key road corridors in Iraq, with the aim of improving domestic mobility, regional integration, and job creation. The Board of Executive Directors approved the Iraq Transport Economic Corridors (ITREC) project on Thursday. According to the World Bank, the […]
By John Lee. A delegation from the Erbil Chamber of Commerce and Industry has held a series of meetings with Czech companies specialising in agriculture and food industries during a visit to Prague. The delegation, led by board member Rashid Mustafa Mirkhan and accompanied by a representative of Aro, met with Jiří Šer, Director of […]
By John Lee. The Raparin Regional Development Agency (RRDA) was officially launched on Sunday in Ranya [Rania], Sulaymaniyah. The opening ceremony was attended by Kurdistan Region Deputy Prime Minister Qubad Talabani, UK Consul General Andrew Bizley, and consuls from France and Armenia, alongside domestic and international guests. Talabani said a primary objective of the agency […]
