The latest news on Iraq – Kuwait business – investment, Disputes and more – brought to you by Iraq Business News
The United Nations Compensation Commission has made another $1,038,375,281 available to the Government of Kuwait for distribution to eight successful claimants in compensation for Iraq’s 1990 invasion. This payment leaves approximately $18 billion outstanding to six compensation awards. Successful claims are paid with funds drawn from the United Nations Compensation Fund, which is funded by […]
Minister Ali al-Dabbagh, Iraqi Government Spokesman, was interviewed by Padraig O'Hannelly for Iraq Business News at last week's Iraq Mining 2011 conference in London. In this first part of the interview, Dr al-Dabbagh discusses the controversial Mubarak port: Iraq Business News: Firstly, Dr Ali al-Dabbagh, thank you for agreeing to speak to us. I'd like […]
According to a report from Associated Press, Iraq's Foreign Minister Hoshyar Zebari (pictured) says that a dispute over a planned Kuwaiti port has been resolved, and that the facility will not disrupt Iraqi shipping in the Persian Gulf. The minister said that a technical review showed that the Mubarak port on Boubiyan Island "won't affect our […]
According to lawmakers, the border area between Kuwait and Iraq should no longer be disputed territory. However Iraqi locals see it differently and accuse Kuwait of blocking their waterways, stealing their oil and teaching their children untruths about the area, according to this report from Niqash. As dusk falls along the southern borders that Iraq […]
Officials in Basra have reportedly blocked a $500m power generation deal with Korea's Hyundai, because of the company's involvement with the controversial Mubarak Port in Kuwait. The project was due to be launched on Thursday. Ayad al-Amara, an official spokesman for Basra Governorate told AKnews that the Governorate has decided to stop work with all […]
Three rockets were fired in the area of the Iraq-Kuwait border on Friday. Reuters quotes an Iraqi official as saying that they landed inside Iraq and were not aimed at Kuwait or the disputed Mubarak port. "The rockets targeted the (former) Bucca prison building, which is used by foreign companies," Ali al-Maliki, head of the Basra […]
The Iraqi Transport Ministry said on Wednesday that the designs for Grand al-Faw port will be ready in less than a year. AKnews reports that the statements said that all the necessary preparations have been made to initiate the construction of the port including the financial allocations and the technical and engineering staffing. Iraq announced […]
Al-Iraqiya television has reported that Iraq is threatening to take the case of Kuwait's Mubarak al-Kabir Port to the United Nations if the harbour violates its maritime rights. An Iraqi Technical Delegation, led by the government’s Advisor, Thamer al-Ghadban, reportedly arrived in Kuwait on Sunday for a 2-day official visit. Bloomberg reports that Prime Minister […]
AKnews reports that a primary school funded by a Kuwaiti grant of more than $2 million [2.4 billion Iraqi dinars] was opened in Karbala on Wednesday. Opening the school, the undersecretary of the education ministry said that Iraq needs more than 5,000 schools to be opened during the next year to cope with the rising […]
Levels of violence rose slightly in Iraq over the past week although conditions remain quieter than much of the year so far. Fewer than 50 people were killed, which is a moderate figure by Iraqi standards, albeit still abhorrently high. A notable number of the dead and injured were caught up in a double suicide […]
The UN has approved the release of another US$1bn from the reparations fund that compensates Kuwaiti businesses, government bodies and international organisations for losses due to Iraq's invasion of Kuwait in 1990. Iraq has now repaid more than $33bn of its $52bn due in damages claims. The $1bn comes from a 5% cut of Iraqi oil […]
Iraqi prime minister Nouri al-Maliki and his Kuwaiti counterpart, Naser al-Subah, have been talking directly by telephone to try to prevent a diplomatic crisis from worsening. A spokesperson for Maliki said on Monday that Kuwait had shown "more flexibility" in ongoing discussions over a new Kuwaiti port. Mubarak Port, due to be completed in 2016, […]
