By John Lee. The son of former Iraqi Prime Minister and current Vice President Nouri al-Maliki has reportedly been arrested in Lebanon in possession of more than US $1.5 billion "in cash". BasNews cites Lebanese media sources as claiming that Ahmed al-Maliki is being detained in a prison on Beirut, and that Nouri al-Maliki has […]
By John Lee. Stuart Bowen, the former Special Inspector General for Iraq Reconstruction (SIGIR), has claimed that between $1.2 billion [1.4 trillion Iraqi dinars] and $1.6 billion [IQD 1.9 trillion] allocated for the reconstruction of Iraq was stolen and hidden in a bunker in Lebanon, as the American and Iraqi governments ignored appeals to recover […]
By John Lee. Iraq's Commission of Integrity has reportedly repatriated five billion Iraqi dinars [$4.3 million] that were smuggled to Lebanon. According to Aswat al Iraq, the money, in addition to some real estate investments, were illegally obtained by British businessman James (Jim) McCormick, who was sentenced to 10 years in prison in Britain for […]
By John Lee. Fadi Abboud, the former head of the Lebanese industrialists association, has told The Daily Star that Lebanon’s total exports to Iraq will see a sharp decline over the coming months due to the deteriorating security situation in the country. Adding that Iraq is the fifth-largest recipient of Lebanese products, he said that […]
By John Lee. Lebanese banks intend to expand their operations in Iraq, the president of the Association of Banks in Lebanon said on Friday. Addressing a Lebanese-Iraqi banking conference in Beirut, Francois Bassil said: “The size of the Lebanese banks in Iraq may be too small compared to the huge Iraqi market. "Iraq’s seven state-owned […]
By John Lee. Iraq’s transport minister, Hadi Al Ameri [Hadi al-Amiri] (pictured), has reportedly apologised for an incident in which a Lebanese airliner en route to Baghdad was ordered to turn back mid-flight to pick up his son, Mahdi. Gulf News reports that the Minister also pledged to turn his son in if an Iraqi […]
By Leanne Case. Solidere Beirut: A Good Practice Example of Urban Development for Other Post Conflict Cities to Follow? So many towns and cities have failed to achieve comprehensive regeneration in the aftermath of war. This paper, an abridged version of my MSc dissertation, explores the private sector led renewal model used in Beirut, commonly […]
A contract has been signed between the Lebanese company ViecoEast and Iraq's Al Fajr for waste water treatment plants. Delivery starts in January 2014. Vidoe of the signing can be viewed below: (Source: ViecoEast)
By John Lee. Lebanese investments in Iraqi Kurdistan account for 10 percent of the total investments in the region, and will exceed $3 billion, reports Aswat Al Iraq. The Chairman of the Lebanese-Kurdish Friendship Association, Ali Adeeb, said that the Lebanese investors were the first to come to the Kurdish region, investing in construction, banking, […]
By Abdel Hamid Zebari for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Over the past two decades, the citizens of the Iraqi Kurdistan region have refrained from going to movie theaters. Some of these theaters, which succumbed to neglect, have been demolished […]
Lebanon's Daily Star reports that deteriorating security in Syria is forcing Lebanese truck drivers to abandon the Damascus road and re-route through Iraq before entering Jordan. Until recently, the Syrian army accompanied convoys from the Masnaa crossing through Damascus before heading south to Jordan, but for the past two months this has proved impossible. Chafik […]
Lebanese company Robert's Group is due to open its first family entertainment centre in Iraq next month. The standalone outlet in Baghdad will have 40 games and will be opened in conjunction with a local partner. According to a report from Intergame, the new unit is currently in the final stages of completion. Robert’s Group, […]
