The latest news on Iraq – Kuwait business – investment, Disputes and more – brought to you by Iraq Business News
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 […]
Iraq and Kuwait pledged on Wednesday to work toward resolving border disputes and debt issues as the two former enemies seek to repair relations damaged by Saddam Hussein's 1990. Iraq's Foreign Minister, Hoshyar Zebari (pictured), and the Kuwaiti ambassador made the remarks at a flag-raising ceremony at the new Kuwaiti Embassy in Baghdad — the […]
A Fox News talk show host has called for the US to take Iraq's and Kuwait's oil to "make them pay for their liberation". Sean Hannity (pictured), who was discussing high oil prices with his “Great American Panel”, expressed outrage at the proposed increases in the price of oil and suggested that Kuwait and Iraq […]
An appeal by the Iraqi government against Kuwait Airways' (KAC) claim over the theft of its aircraft during the Iraqi invasion of Kuwait has been summarily dismissed by a Canadian court of appeal, Arabian Aerospace has reported. Last year, KAC seized Iraqi Airways and the State of Iraq interests in an order of new aircraft […]
The Kuwaiti premier, Sheikh Nasser al-Mohammed al-Sabah (pictured), and Iraqi Prime Minister, Nouri al-Maliki, discussed issues relating to borders, security and finance, during the first visit by a Kuwaiti premier to Baghdad since the 1990 Gulf War. The two neighbours are locked in a dispute over billions of dollars in war reparations from Baghdad, relating […]
