The latest news on Iraq – Kuwait business – investment, Disputes and more – brought to you by Iraq Business News
Iraq's Minister of Finance, Ali Allawi, arrived in Kuwait on Saturday for talks with senior officials. Mr. Allawi held discussions with the Prime Minister of Kuwait, Sheikh Sabah Al-Khalid Al-Sabah, on bilateral relations and delivered a written message from Prime Minister Mustafa Al-Kadhimi. He also held talks with the Minister of Finance, Barrak Al-Shitan, the […]
By John Lee. Iraq's Ministry of Health has confirmed the first case of the coronavirus (covid-19) in the country. It said that an Iranian student had tested positive for the virus in Najaf. The student is reported to have been immediately quarantined. Following the announcement, Kuwaiti state news agency KUNA said that Kuwait’s civil aviation […]
By John Lee. Bahrain-listed United Gulf Holding (UGH) has received approval from the Central Bank of Iraq (CBI) to buy a 51.8 percent stake in Bank of Baghdad. According to The National, the company will acquire the stake from Kuwait-based Burgan Bank. The stock-market announcement can be found here. (Sources: UGH, The National)
By John Lee. Iraq has reportedly signed a deal with the Gulf Cooperation Council Interconnection Authority (GCCIA) to import electricity at a rate of 500 megawatts of electricity from Sunni Arab gulf countries before next summer, Iraqi Ministry of Electricity spokesperson a told state newspaper on Thurday. According to Rudaw, the GCCIA will fund the […]
By John Lee. Court filings in the United States have reportedly shed new light on corruption in Iraq. Louis Auge, of EU Reporter, writes that two members of Iraq’s Communications and Media Commission (CMC) recieved houses in London in return for their role in the expropriation of over $800 million from French telecom firm Orange […]
From Middle East Monitor, under a Creative Commons licence. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraq and Kuwait are at loggerheads over conflicting maritime border claims Efforts to resolve a slow-burning maritime boundary dispute between Iraq and Kuwait hit a dead […]
Iraq has signed a landmark deal with the Gulf Cooperation Council (GCC) for a power line to import 500 megawatts of electricity by 2020, local reports said on Sunday. According to the Iraqi Electricity Ministry, the 300-kilometre line will run from Kuwait to Iraq’s southern port of Faw and be financed by the GCC. Electricity […]
By John Lee. The economic agreements signed between Kuwait and Iraq have recently raised concerns among Iraqi experts, who warned against “political courtesy” at the expense of the country’s interests in relation to the proposed free trade zone on the border between the Iraqi city of Basra and Kuwait. A member of the Council of […]
The Cabinet held its regular weekly meeting in Baghdad on Tuesday under the chairmanship of Prime Minister Mr. Adil Abd Al-Mahdi. It approved: the recommendation of the Ministerial Energy Council on the service contract for Al-Mansuriyah oil field in Diyala province; a draft law on public-private partnership to strengthen cooperation between government agencies and the […]
On Tuesday, the United Nations Compensation Commission (UNCC) made available $270 million to the Governmentof the State of Kuwait towards the Commission’s remaining claim with an outstanding award balance. The United Nations Compensation Commission was established in 1991 in accordance with Security Council resolutions 687 (1991) and 692 (1991) to process claims and pay compensation […]
Five years on from ISIL ‘caliphate’ proclamation in Iraq, Security Council makes first-ever visit The UN Security Council has concluded a first-ever visit to Iraq on Saturday, five years on from the proclamation, by the ISIL terrorist group, of a “caliphate” in the country. The visit, which also took in a trip to Kuwait, saw […]
By John Lee. Kuwait will reportedly fund the reconstruction of a major border crossing with Iraq. According to Anadolu Agency, Iraq's Border Crossing Authority said a memorandum of understanding (MoU) has been signed between the two countries to prepare the infrastructure for the crossing at Safwan. (Source: Anadolu Agency)
