The latest news on Iraq – Kuwait business – investment, Disputes and more – brought to you by Iraq Business News
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 […]
The Kuwaiti ambassador to Baghdad, Ali al-Muamman, has announced that 50 Kuwaiti companies will begin work in Iraq at the end of this month, after being informed of the investment law details by the Chairman of the National Investment Commission (NIC), Sami al-Araji, who visited Kuwait recently. "The Kuwaiti companies were afraid of entering Iraq […]
Iraq has asked its Arab neighbours to forgive its pre-invasion debts, urging them to follow the United Arab Emirates and Algeria which have already written off what they were owed, according to Reuters. "We've asked Saudi Arabia, Kuwait, Qatar, Libya, Jordan, Sudan, Egypt and Morocco to help Iraq in closing up its debt situation," Iraqi […]
Iraq’s Minister of Transport Hadi al-Amiri (pictured) talks to NIQASH about Iraq’s role in alleged Iranian weapons smuggling into Syria as well US spy drones over Iraq monitoring Iranian activities. “It’s a lie,” al-Amiri says. Al-Amiri also talks about how a recent visit to Iraq’s neighbour, Kuwait, could see Iraqi Airways flying again. And he […]
Following the successful bilateral discussions between the governments of Kuwait and Iraq, Jazeera Airways announced that it has secured rights to operate the Kuwait-Al Najaf route and intends to launch the route within the next six months. Jazeera Airways, which currently operates 18 non-stop routes in the Middle East from Kuwait, will be the first […]
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