The latest news on Iraq – Kuwait business – investment, Disputes and more – brought to you by Iraq Business News
By John Lee. Iraq's Minister of Electricity, Eng. Ziyad Ali Fadel, has addressed key energy issues in interviews with Al Arabiya and Al Hadath, outlining government efforts to secure power supply and mitigate potential summer shortages. Key points include: The halt of exemptions has affected 800 MW of electricity imports from Iran, impacting Diyala, Maysan, […]
By John Lee. An arbitration tribunal has been appointed in the case of Agility Public Warehousing Company K.S.C. v. Republic of Iraq (ICSID Case No. ARB/17/7). Its members are: Sarah Grimmer (New Zealand), President, appointed by agreement of the Parties; Stephen L. Drymer (Canadian), appointed by Claimant; and Dr. August Reinisch (Austrian), appointed by Respondent. […]
By John Lee. Iraqi President Dr. Abdul Latif Rashid met with the new Kuwaiti Ambassador to Iraq, Hassan Mohammed Al-Zaman, in Baghdad on Monday, 10th February, to discuss bilateral relations and economic cooperation. President Rashid reaffirmed Iraq's commitment to strengthening ties with Kuwait, highlighting investment opportunities and the importance of expanding economic collaboration. He also […]
By John Lee. Qatar-based Ooredoo Group has partnered with France's Alcatel Submarine Networks (ASN) to build the Fibre in Gulf (FIG) submarine cable. The cable, connecting Qatar, Oman, the UAE, Bahrain, Saudi Arabia, Kuwait, and Iraq, will have a capacity of up to 720Tbps with 24 fibre pairs. Ooredoo said in a statement that the […]
By John Lee. Iraqi President Abdul Latif Jamal Rashid has formally received the credentials of the newly appointed ambassadors of Kuwait, Japan and Armenia during a ceremony at Baghdad Palace. The ambassadors welcomed included: Hasan Mohammad Zaman of Kuwait, Akira Endo of Japan, and Ruben Soghoyan of Armenia. The event was also attended by Deputy […]
By John Lee. Kuwait-based Safir Hotels & Resorts has announced its entry into Iraqi Kurdistan with a new 5-star hotel in Erbil. The management contract was officially signed between Hariri Building & Contracting Co. HARCO Offshore, the hotel's owning company, represented by Mr. Mostafa Al-Hariri, Chairman of the Board, and Safir International Hotels & Resorts, […]
By John Lee. The Iraqi Drilling Company (IDC) has completed drilling a new injection well in the Siba Gas Field in Basra Province. The well, drilled to a depth of 1,215 meters, marks the first project completed under a contract with Kuwait Energy. Kuwait Energy recognized the drilling team's exceptional performance, awarding them for completing […]
By John Lee. Canada's Sonoro Energy has announced the signing of a Heads of Agreement ("HOA") with TransAtlantic Petroleum LLC, a privately owned energy company headquartered in Dallas, Texas, to evaluate production investment opportunities in Iraq. Sonoro is chaired by Sara Akbar (pictured), co-founder of Kuwait Energy Company (KEC), which has had interests in Iraqi […]
By John Lee. Kuwaiti logistics firm Agility has announced that Iraq's Korek Telecom has been ordered to pay it nearly $1.2 billion in damages. The judgement by International Chamber of Commerce (ICC)'s International Court of Arbitration relates to allegations of fraud and corruption orchestrated by Korek with a view to unlawfully causing the expropriation Agility's […]
By John Lee. On-demand food and Q-commerce app talabat has announced a new partnership with the Asian Football Confederation (AFC), becoming an Official Regional Partner of the AFC club competitions. Under the partnership, talabat will deliver prizes and other benefits for football fans in Iraq, the UAE, Qatar and Jordan. A spokesperson for talabat told […]
By John Lee. The Kuwait Fund for Arab Economic Development (KFAED) has said it will provide two KWD 35 million (USD 224 million) loans to support the Gulf Electricity Interconnection System Project, which will export electricity from Saudi Arabia to Kuwait and Iraq. According to a press release from the Fund, the financing constitutes 40 […]
By John Lee. On Thursday, Dr. Haider Mohammed Makkiya, President of the National Investment Commission (NIC), met with a team from the United Nations Development Programme (UNDP), led by Mr. Mamunur Rashid, the Environment, Energy, and Climate Change Program Portfolio Manager. According to a statement from the NIC, the discussions focused on enhancing cooperation between […]
