The latest news on Iraq – Kuwait business – investment, Disputes and more – brought to you by Iraq Business News
By John Lee. Reuters reports that Iraqi Airways will resume flights to Kuwait on Saturday for the first time since the invasion in 1990. In December, Kuwait Airways dropped legal cases against Iraqi Airways in return for compensation of $500 million. However, Kuwait's state-run airline has not resumed flights to Iraq. Iraqi Airways flies to regional […]
By John Lee. Foreign Minister Hoshyar Zebari met with his Kuwaiti counterpart, Sheikh Sabah Al Khalid, in Riyadh to discuss relations between the two countries. Amongst the issues discussed were the compensation due to Kuwaiti Airways, the endorsement of the joint administration agreement for the navigation of the Khor Abdullah, and the start of the […]
By John Lee. Kuwait MPs have overwhelmingly ratified the $500-million settlement deal to end the 22-year-old dispute between Kuwaiti Airways Corporation (KAC) and Iraqi Airways. Iraqi Airways agreed in July to pay the compensation to KAC for damages caused by Saddam Hussein's troops during the 1990-91 invasion of Kuwait. Kuwait says 10 of its planes as […]
By John Lee. Foreign Minister Hoshyar Zebari has met with Mr. Martin Kobler, Representative of the Secretary-General of the United Nations (UNAMI) in Iraq. During the meeting they discussed the mandate of the UN Mission in Iraq and its role in helping Iraq, and the role of the Mission to assist in the upcoming electoral […]
Prime Minister Nouri Al-Maliki received a Kuwaiti media delegation at his office on Wednesday. During the meeting, the Prime Minister emphasized that resolving the problems between Iraqi Airways with Kuwait is a positive gesture which could lead to greater cooperation and improved relations between the countries. The Prime Minister said Iraq continues to work to […]
By John Lee. The Emir of Kuwait has signed into law the financial settlement reached with Iraq regarding Kuwait Airways. Iraq's Ministry of Foreign Affairs says that law firms in Britain have been told to drop all proceedings against Iraqi Airways and Iraqi properties. Under this settlement, Iraq will pay $500 million as final compensation to […]
By John Lee. According to the general secretary of the Iraqi Cabinet, Ali al-Allaq, Iraq will not pay compensation to Kuwait Airways for a debt dispute before Kuwait drops legal claims against Iraqi Airways. Under an agreement reached in March, the two countries decided that Kuwait would abandon all lawsuits against Iraqi Airways in return […]
By John Lee. The Governments of the Republic of Iraq and the United States of America reaffirmed their strategic partnership during a meeting of the Political and Diplomatic Joint Coordination Committee (JCC) on September 2, in Baghdad. This meeting, held at the Iraqi Ministry of Foreign Affairs, was co-chaired by Iraqi Foreign Minister Hoshyar Zebari […]
By John Lee. Iraq’s Oil Ministry has signed a contract with Kuwait Energy to carry out a seismic survey at the Siba gas field in Basra province. Kuwait Energy and Turkey's TPAO won the Siba contract in October 2010, agreeing to produce 100 million standard cubic feet of gas a day at a price of […]
By John Lee. Iraq’s Cabinet has agreed to allocate $500 million to resolve the long-running dispute with Kuwait over the debts of Iraqi Airways, according to Bloomberg. The Cabinet asked parliament to approve the allocation of $300 million from the 2012 budget and another $200 million in 2013, , State Minister Ali al-Dabbagh said on […]
By John Lee. The Kuwaiti government has announced the cancellation of the fourth stage of the Mubarak Port, reports AKnews, due to harm to Iraqi navigation. Iraq’s Ministry of Transport called it an important step, but it does not eliminate the damage to Iraqi navigation. An adviser to the ministry, Karim al-Nouri, said: "We consider […]
Najaf Airport saw the landing of the first Kuwaiti passenger plane in 22 years on Tuesday, according to AKnews The Jazeera Airways Airbus 320 landed at 6pm carrying the ambassadors of the two countries. The low-fare airline is expected to operate two flights per week between the countries. The flight comes after the Iraqi Prime […]
