By John Lee. Lebanese-based Comin Insurance Brokerage is reportedly planning to enter the Iraqi insurance market by the end of this year. Managing Director Roger Zaccar is quoted by Daily News Egypt as saying that both Iraq and Jordan will be added to its portfolio this year; The company was founded in 2017, and is […]
By John Lee. The governments of Iraq and Lebanon have signed a Memorandum of Understanding (MoU) wherein Iraq will supply Lebanon with quantities of fuel and crude oil. The agreement, in line with Cabinet Decision No. 23265 in 2023, aims to support Lebanon's electricity sector and strengthen cooperation between the two countries, serving their mutual […]
By John Lee. Iraq's Council of Ministers has announced its commitment to assist Lebanon by meeting its oil derivative requirements. Additionally, they will provide support in operating the country's electricity production plants and extend the existing supply agreement for an additional third year. The State Oil Marketing Organization (SOMO) will ensure full supply as per […]
By Al Monitor staff. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq agrees to provide Lebanon with fuel for another year Lebanon's fuel crisis is showing no signs of letting up, but an exchange with Iraq is keeping one source flowing. Click […]
By John Lee. A Beirut-based delivery startup has said it will use new funding to support expansion in Iraq. Toters last month raised more than $15 million in series-B funding from the International Finance Corporation (IFC), March Holding, and BY Venture Partners, having previously raised over $5 million in two previous rounds. According to Naharnet, […]
By Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. From Beirut to Baghdad: Lebanese flee crisis seeking jobs in Iraq Iraq, once synonymous with conflict and chaos, is becoming a land of opportunity for Lebanese job-seekers fleeing a deep economic crisis […]
By John Lee. Lebanese company Primesouth International Offshore has commenced arbitration proceedings against Iraq at the International Centre for Settlement of Investment Disputes (ICSID). Details of the dispute have not been released, but in 2020 the company was reported to have signed a two-year contract, along with China CAMC Engineering Co (CAMCE), to install 640 […]
By John Lee. Lebanese-based Khatib & Alami (K&A) has announced the successful handover of the Mheila Reverse Osmosis Water Treatment Plant (WTP) on the banks of Basra's Shatt al-Arab river, with a capacity of 72,000 m³/day. The plant is the first of its kind in the region because it's reverse osmosis system enables flexible operation […]
By John Lee. [Amended 7th Oct 2021 to include comment from Korek Telecom.] UAE-based Agility has announced an arbitration decision by the Lebanese Arbitration Center of the Chamber of Commerce, Industry and Agriculture of Beirut and Mount Lebanon, in the lawsuit filed by its subsidiary Iraq Telecom against the Intercontinental Bank of Lebanon (IBL) and […]
By John Lee. The Iraqi-Lebanese Business Conference has been held in Beirut, under the auspices of the Lebanese Minister of Industry. The meeting discussed the promotion of trade in areas such as agriculture, industry and tourism. A representative of Beirut's Chamber of Commerce, Industry and Agriculture said that the Lebanese private sector is always ready […]
By John Lee. A Kurdistan-based manufacturer of potato chips (crisps) has reportedly opened a new state-of-the-art potato storage facility. According to PotatoPro, Beirut Erbil for Potato Products (BEPPCO) installed ten cold storage rooms on an area of 5,332 square meters, with a storage capacity about 10,000 tons. The company sells under the brands Mr. Krisper […]
By John Lee. Iraq and Lebanon have finalised an agreement under which Iraq will provide the Lebanese Electricity Corporation with 1 million tonnes of heavy fuel oil over a one-year period. Lebanon's caretaker Energy Minister, Raymond Ghajar, signed the deal in Baghdad at the weekend. The oil will be paid for in goods and services. […]
