Tag Archives | Kurdistan News

The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.

Diamonds in Demand in Kurdistan

A source at the directorate of jewelry quality control in Erbil told AKnews on Sunday that 19 Kg of diamonds have been imported into the Kurdistan Region so far this year. A diamond dealer confirms that demand for diamonds has grown in the Region in recent months. “We check diamonds and other jewelry imported into […]

Egyptian Trade Delegation in Iraqi Kurdistan

The Kurdistan Cabinet advisor for international relations, said Jihan Rashid Snedi, announced on Sunday that an Egyptian trade delegation will visit the Kurdistan Region. “The Egyptian trade delegation plans to talk with the chief of Kurdistan Chamber of Commerce about reconstruction, investment, business, technology, agriculture and higher education during its stay in Kurdistan,” Snedi noted. […]

Kurdish Crude Oil Still Smuggled to Iran

Despite a pledge by Iraqi Kurdistan to crack down on the flow of fuel being smuggled to Iran, the only real impediment truck drivers say they face are long lines that force them to wait for days to cross, according to a report from Reuters. Perhaps around 100 tanker trucks corralled into groups of 10 […]

Arabs Are Top Investors in Kurdistan

Investors from Arab countries have led other foreign investors in the Kurdistan Region in the last two years with nearly $2.7 billion (3.2 trillion Iraqi dinars) of investment in various sectors of the Region’s economy, a senior official of the Kurdistan Investment Board (KIB) told AKnews. “Four Arab countries — Kuwait, Lebanon, Egypt and Jordan […]

Turkish Companies’ Assets in Kurdistan Exceed US$ 600 Million

A source from Kurdistan Investment Board declared that the Turkish companies’ assets in Kurdistan Region amount to US$ 621 million. Confirming the figure, Haydar Mustafa, the Director General of Investigation & Information in the Board, told AKnews on Wednesday that although there are many Turkish companies operating in the Region the majority of them are […]

Vast Exploration Updates Iraqi Ops

Vast Exploration Inc. has provided an update on the settlement of final payment terms with the Kurdistan Regional Government with regard to the acquisition of an additional 10% working interest announced in September 2009, and a progress update on the Qara Dagh – 1 Exploration Well. Capacity Building Payment “Profits Royalty” As previously announced, in […]

Kurds and Baghdad in Row over Oil Smuggling

Iraqi oil officials and their Kurdish counterparts have exchanged accusations of smuggling large volumes of crude oil and by-products to neighboring Iran. There are two oil ministers in Iraq. Heading the Oil Ministry in Baghdad is Husain al-Shahristani. The semi-independent Kurdish region has its own government with Ashti Horami [Ashti Hawrami] heading the Ministry of […]

DNO Stock Surges on RAK Petroleum Bid Talk

Iraqi oil producer DNO International ASA (DNO.OL) leapt to a 14-month high on Wednesday, following reports that Emirates-based RAK Petroleum may bid for the 70 percent in the Norwegian company it does not already own. DNO was the first Western company to drill for oil in Iraq following the U.S.-led invasion and although it cannot […]

Iraq Kurds Say to Crack Down on Fuel Smuggling

Iraq’s northern Kurdish region is cracking down on fuel oil smuggling through the area and across Iraq’s borders, the government of the semi-autonomous region said on Sunday. The Kurdish Regional Government (KRG) issued a statement in response to a New York Times story on Friday that said hundreds of millions of dollars worth of crude […]

Financial Sector Developing in Kurdistan

Both public and private sectors are working hand in hand to establish and develop a modern financial sector in the Region that can support the economic growth in the Region, measure up with international standards, and be connected to world markets, something that is key to the soundness and efficiency of this sector. The sector […]

Investments in Erbil to Exceed $7bn

Investment projects in the capital of Kurdistan region, Erbil, are estimated at $7.5bn, the deputy governor reported on Tuesday. “We expect that investment will increase in the coming years,” Tahir Abdullah said. The projects have been carried out in different sectors, such as industry, reconstruction, agriculture and housing projects in Erbil, Abdullah noted. A member […]