The latest news on Iraq – Kuwait business – investment, Disputes and more – brought to you by Iraq Business News
Basra's Investment Commission (BIC) announced on Sunday that the Kuwaiti Bukhamseen Group [Bukhamsin] visited its premises to show engineering designs for a number of projects, and to learn about possible future investment projects in the province. Director of the Commission, Haidar Ali Fadhil, told Aswat al-Iraq that the delegation proposed a palm tree plantation, concrete […]
Kuwait's Arabian Beverage Company (ABC), which distributes water, juice and dairy products in the Gulf region, plans to boost production and also aims to penetrate the Iraqi market this year, according to Reuters. The company, owned by Kuwaiti conglomerate Bukhamseen Holding [Bukhamsin], founders of Kuwait International Bank and Abu Dhabi listed First Gulf Bank, wants […]
Kuwait will open consulates in Erbil and Basra in the next few days in an effort to increase the country’s investment in the regions, the Kuwaiti Embassy in Baghdad said today. Kuwait's ambassador to Iraq Ali al-Muamman said: "Kuwait is working to expand diplomatic and economic relations with Iraq by opening consulates in various Iraqi […]
Citigroup and Bank of Baghdad have announced a strategic partnership which offers corporate clients, with major business presence in Iraq, a seamless cash management solution and other relevant banking services. The client offer encompasses account services, domestic and international payments and collections, liquidity management and electronic banking solutions, backed by a comprehensive customer service and […]
Teh Arab Times reports that Kuwait is ready to sign an agreement with Iraq to guarantee that the Mubarak Al-Kabeer port project will not hinder the construction of Iraq's Grand Faw port. According to the Director of Information at the Iraqi Ministry of Foreign Affairs, Aous Al-Tamimi, the Iraqi Minister of State for Foreign Affairs […]
Iraq's main port of Umm Qasr in Basra will lose 60% of its business if Kuwait goes ahead with a neighbouring port of its own, reports AKnews. In addition to thousands of dock workers losing their jobs, it is also believed that the livelihoods of local fishermen will be affected. A dispute over the territory […]
A few dozen Iraqis protested on Wednesday against Kuwaiti plans for a new port near Umm Qasr, Iraq’s only deep-water port. AKnews reports that public committees from Basra organized the protests to show public opposition against the Kuwaiti Mubarak port across the border. "Everyone knows that Kuwait does not need this port since it has […]
The foundation stone was laid for a new $10m [12 billion Iraqi dinar] commercial complex and shopping centre in Erbil on Sunday. Samir Abdullah, Minister of Municipalities and Tourism of the Government of the Kurdistan Region, emphasised the importance of Kuwaiti investments in the region. Nasser Al Sayer, Chairman of the Kuwait Al-Sayer Group of […]
The United Nations Compensation Commission (UNCC), which settles the damage claims of those who suffered losses due to Iraq’s 1990 invasion of Kuwait, made $880 million available to nine successful claimants on Thursday. The latest round of payments brings the total amount of compensation disbursed by the Commission to $32.2 billion for more than 1.5 […]
According to a report from Reuters, Iraqi telecom operator Kalimat plans to invest $250 million in 2011, and to launch an initial public offering (IPO) next year. The company's chief executive, Wilson Varghese, said the planned IPO should help the company to expand as it eyes a nationwide rollout of services by the end of […]
Kuwait Airways will seek compensation from Iraq for having allegedly stolen its aviation equipment and 10 aircrafts worth $1.2 billion during the first Gulf war, according to a report from Al-Arabiya. A lawyer from the Airline is quoted as telling Iraq Oil Report that the company will seek to enforce a 2006 English Supreme Court […]
According to a report from The National, lawyers for Kuwait Airways have vowed to seize international assets owned by the Iraqi government following a recent court ruling in its long-running dispute with Iraqi Airways. A UK court ruling has granted Kuwait Airways the right to file proceedings against the Iraqi government and ministries of transport […]
