The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
By John Lee. Singaporean/Swiss-based commodity trader Trafigura has reportedly ended its relationship with the Kurdistan Regional Government (KRG). According to a report from Bloomberg, the decision follows the KRG's refusal to renegotiate the terms of the contract, following a drop in the price of Kurdish oil. KRG Minister Masrour Barzani is also said to have […]
By John Lee. A new industrial zone is to be built in Duhok province. The project consists of five areas and covers an area of 300 dunams [30 hectares; 74 acres], at a cost of more than $ 62 million. Three of the five areas of the project have been completed which include, according to […]
Gulf Keystone Petroleum (GKP) has provided an operational and corporate update today. The information contained in this announcement has not been audited and may be subject to further review. Jon Harris, Gulf Keystone's Chief Executive Officer, said: "2022 was a strong year for GKP, in which we made progress on multiple fronts that will position […]
By John Lee. China's Gezhouba Group has offered to invest $10 billion in Iraq's Kurdistan region. According to a report from Kurdistan24, a translation of which was published on the company's website, the investment is intended for roads, railways, the power sector and dams. Mohammed Shukri, chairman of the Kurdistan Investment Board, is quoted as […]
KRG Prime Minister Masrour Barzani received the United Kingdom's new Consul-General in Erbil, Rosey Cave on Thursday. The Prime Minister congratulated her on her appointment and wished her success in her duties and expressed the Kurdistan Region Government's full support for the new Consul in order to further promote the strong relationship between the UK […]
By John Lee. Iraq's Federal Supreme Court has ruled that budget payments from the Federal Government in Baghdad to the Kurdistan Regional Government (KRG) are unlawful. In response to the court's decision, the KRG issued a statement strongly opposing this verdict, calling it "unconstitutional and illegitimate". The statement also added: "This court is not constitutionally […]
By John Lee. The Kurdistan Regional Government (KRG) has said that the opening of the state-owned Nishtiman Bank in the Region can help provide mortgages to citizens and make a connection between Iraqi and international banks, all of which are reasons for economic development and strengthening the banking system in our region. The establishment procedures […]
By John Lee. The Kalar-Darbandikhan road project has completed its first phase, according to a press release from the KRG. Garmian Roads Director Adnan Khalil said: "The first phase of the project, 24 kilometers long and 17 meters wide, has been completed at a cost of 46 billion dinars. "The second phase of the project […]
By John Lee. Two new projects were officially launched in sector 128 of Ankawa district on Monday, January 16th. The projects, which include street paving, sidewalk construction, water supply, and sewerage will be financed by the KRG's Ministry of Municipalities and Tourism. Additionally, an expansion of the sector's electricity network will be financed by the […]
Kurdistan Region Government (KRG) farmers, who used to grow wheat, barley, vegetables and fruits, are now growing dozens of other crops, including corn. The Kurdistan Region Government (KRG) needs one million tons of corn annually and the Ministry of Agriculture of the Kurdistan Region Government (KRG) has paid attention to this product and plans to […]
By John Lee. The Kurdistan Region Government (KRG) has issued data on the clearance of mined land over the past year: 2,316,756 square meters of land was cleared of mines and IEDs in the Kurdistan Region in 2022. 47 fields were cleared of landmines, with 27 cleared by the Iraqi Kurdistan Mine Action Agency (IKMAA) […]
By John Lee. The General Manager of Japan's Somitomo in Iraq, Mr Miyaki, met with the Minister of Municipalities and Tourism of the Kurdistan Regional Government (KRG), Sasan Auni, to discuss expanding coordination and joint projects in the Kurdistan Region. The meeting follows a previous visit by the Minister and a delegation to Japan where […]
