The latest news on Iraq – Kuwait business – investment, Disputes and more – brought to you by Iraq Business News
By John Lee. Iraq’s Communication and Media Commission (CMC) has scrapped a $100-million fine imposed on mobile phone operator Zain Iraq. The telecom watchdog had claimed that Zain Iraq sold mobile phone SIM cards without its permission. Reuters reports that a CMC committee considering the case decided not to impose the fine. (Source: Reuters) (Dollars […]
KRG Prime Minister Nechirvan Barzani received the Kuwait Consul-General to the Kurdistan Region, Dr. Omar Ahmad Al-Kandari, on Wednesday. Prime Minister Barzani welcomed the Kuwait Consul-General to his new position. They discussed the latest developments in the Kurdistan Region, particularly the war against terrorism and the economic and social impact of hosting nearly two million […]
Mr. Omer Al Kandari, the Consul General of the State of Kuwait, visited the KRG Department of foreign Relations to present his exequatur as his country’s first diplomat to be posted to Kurdistan and to discuss potential areas of cooperation. Minister Falah Mustafa, Head of the KRG Foreign Relations, congratulated Consul General Al Kandari on […]
By John Lee. Kuwait's Zain Group has reported a 26.7 percent fall in first-quarter profit on Tuesday, as its Iraq business suffered from political instability and intense competition. Zain Group CEO, Scott Gegenheimer (pictured) noted: “The quarter reflected mixed results in what were quite challenging conditions in several of our key markets, especially Iraq where […]
By John Lee. Petrojet has been awarded a $185-million (216-billion-Iraqi-dinar) contract to build the first gas-processing plant for Iraq’s Siba field. The Egyptian state-owned company will handle all the gas-processing plant’s related works including engineering, procurement, and construction (EPC). The project aims to increase the field’s production to 110 million cubic feet per day within […]
By John Lee. The managing director of the National Iranian Gas Company (NIGC) has said it is possible for Iran to export natural gas to Kuwait through Iraq. Hamid Reza Araqi was quoted as saying that the pipeline which is being built to export gas to Iraq could be used for this purpose also. Iran […]
By John Lee. Kuwait Energy and Egyptian General Petroleum Corporation (EGPC), the national oil company of Egypt, have jointly announced the signing of an agreement whereby EGPC has farmed in a 10 percent participating interest in the Block 9 license. The Block 9 field is located in the Basra Governorate, in Southern Iraq. The signing […]
By John Lee. Several major project announcements are expected shortly in Diwaniyah, according to a report from ConstructionWeekOnline. These including projects attached to the $1.35bn Al-Diwaniyah International Commercial Airport (pictured), which is to be built by Kuwait’s Al-Nasriyah Company, and is due to be completed by the end of 2017. Other projects include a $210-million […]
By John Lee. Three Iraqi civilians were reportedly killed on Wednesday when a booby-trapped truck exploded near the Kuwaiti border in Iraq. The Kuwaiti news agency KUNA quoted a local Iraqi official as saying that the explosion happened at a garage near the main road about 12 km (7.5 miles) north of the Safwan border […]
By John Lee. Kuwait will host the 23rd soccer Gulf Cup in early 2016, after Iraq declined to host the tournament due to a deficit in the State budget. According to Arab News, Iraq will instead bid to host the 24th edition of the Cup. Iraq had been due to host the event in Basra. […]
By John Lee. Kuwait's Al-Nasriyah Company has signed an agreement to build a new airport in Diwaniya. The $1.35-billion airport will be operated by the company under the 45-year contract. Following the signing ceremony, the Governor of Diwaniya, Ammar Al-Madani, said the airport will cover an area of seven dunams (roughly 17,500 sq. m.) in […]
By John Lee. The Kuwaiti deputy prime minister, Sheikh Subah Al-Subah [Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah], arrived in Baghdad on Sunday for an official visit. The two sides discussed the promotion of relations between the countries, and the efforts to fight terrorism. Sheikh Al-Subah said that Iraq represents a basic pillar to stabilize the region, […]
