The latest news on Iraq – Kuwait business – investment, Disputes and more – brought to you by Iraq Business News
By John Lee. Direct flights between Kuwait and Iraq have resumed after 2 decades, Mawtani reports. After initially starting at 2 flights a week, the eventual aim is to have daily flights, according to Iraqi Airways company director Capt. Saad al-Khafajy. Al-Khafajy was optimistic about flying more passengers between the two countries on Iraq's national carrier, noting […]
By John Lee. The Kuwait National Cleaning Company has reportedly won a three-year, 207-billion-Dinar contract to remove trash from Basra city. According to a report from Alsumaria, the company beat six competitors from Germany, Lebanon, Turkey and Iran. The Governor’s advisor for services, Mohamad Jaafar, said: "Al Basra’s Governor, Majed Al Nasrawi, reiterated on numerous […]
By John Lee. The Bank of Bahrain and Kuwait (BBK) has announced plans to open a branch in Kurdistan this year. Abdul-Karim Bujeery, CEO of the bank, said: "The expansion in Kurdistan Region will be the next step to the bank , if the study of market [leads] to positive results." The bank hsa appointed […]
The United Nations Compensation Commission has made available $1.03 billion to the Government of the State of Kuwait towards the Commission’s remaining claim with an outstanding award balance. The United Nations Compensation Commission was established in 1991 in accordance with Security Council resolutions 687 (1991) and 692 (1991) to process claims and pay compensation for […]
The US government has filed a complaint against Kellogg, Brown & Root Services Inc. (KBR) and Kuwaiti companies La Nouvelle General Trading & Contracting Co. (La Nouvelle) and First Kuwaiti Trading Co. (First Kuwaiti) for submitting false claims in connection with KBR’s contract with the Army to provide logistical support in Iraq, the Department of […]
Foreign Minister Hoshyar Zebari and his accompanying delegation arrived the State of Kuwait on January 14, 2014. They were greeted at the airport, by the head of the Arab Ambassador Hamid Failkawi and the Iraqi Ambassador in Kuwait Mr. Mohammed Bahr al-Ulum and Kuwaiti Ambassador in Iraq, Mr. Ghassan Al-Zawawi. The delegation will be headed […]
By John Lee. The Kuwaiti Ambassador to Iraq, Mr Ghassan Al-Zawai, met with the Head of the KRG Department of Foreign Relations, Minister Falah Mustafa yesterday to discuss ways of further developing ties with Kurdistan particularly as Kuwait plans to open its Consulate General in Erbil soon. After Kuwait’s decision to open its Consulate General […]
By John Lee. Oil Review Middle East reports that the Kuwait-based Safwan Petroleum Technologies Company (SPETCO) has said that it is looking to expand its upstream oil and gas services in Iraq and Saudi Arabia. Anish Abraham, the company's manager of OFS/BD, told ORME that its specific attention in terms of marketing and distribution was […]
By John Lee. Kuwait Energy and Dragon Oil have secured a rig from the Iraqi Drilling Company (IDC) to spud an exploratory well at Block 9 in Basra Province by the end of the year. In parallel, the consortium has selected a provider for Environmental Impact Assessment, Environment Base Line Survey and contractors to perform de-mining […]
By John Lee. Reuters reports that China's state-owned Sinochem Corp plans to use Iraqi crude oil for 40 percent of the capacity of its new refinery, in what the article describes as "the latest example of Iraq beating Middle Eastern rivals in the competition for new markets in Asia". The deal wold replacing a preliminary […]
By John Lee. Vice-President of the Republic Dr. Khudair Alkhozai and the Minister of Foreign Affairs Mr. Hoshyar Zebari met His Highness Prime Minister of the State of Kuwait the Amir Sheikh Sabah Al-Ahmad Al-Sabah and Kuwaiti Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah on the sidelines of the sixty-eighth session of the General Assembly […]
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq has decided to exempt foreign companies involved in the Faw Port project from customs duties and taxes. This decision was an attempt to accelerate the completion of the stalled project, through […]
