By John Lee. Iraq has signed a contract with the Gulf Cooperation Council Interconnection Authority (GCCIA) for the import of electricity. The project aims to enhance Iraq's energy stability and reduce reliance on costly conventional energy sources. The Gulf-Iraq electricity link is expected to supply Iraq with 3.94 TWh (terawatt-hours) annually by 2025 at competitive […]
By John Lee. Saudi Arabia's Ambassador to Iraq, Abdulaziz Al-Shammari, is quoted as saying that a commercial representation office for Saudi Arabia is being established in Erbil, as part of broader efforts to strengthen trade ties between Saudi Arabia and Iraq. The office will function under the commercial consulate in Baghdad. In a statement to […]
By John Lee. The Saudi Arabian Cabinet has approved a Memorandum of Understanding (MoU) with Iraq aimed at tackling money laundering and terrorist financing. In a statement, the state-run Saudi Press Agency (SPA) reported that agreement involved, "exchanging financial investigations related to combating money laundering and terrorism financing between the Saudi General Directorate of Financial […]
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 […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Will growing Saudi investment in Iraq hit Iranian roadblock? Gulf Arab investment in Iraq has swelled in recent years, signaling a new and widening rapprochement with Baghdad. Yet, while Iran and Saudi Arabia last […]
By John Lee. Iraqi Prime Minister Mohammed Shia' Al Sudani met with a delegation of Egyptian, Saudi, and Iraqi business leaders specializing in real estate development and integrated smart cities. The delegation included Hisham Talaat Moustafa, Chairman of Egypt's Talaat Moustafa Group (TMG); Suleiman Abdul Qader Al-Muhaidib, Chairman of Saudi Arabian Al-Muhaidib Group, along Essam […]
By John Lee. The Chairman of the Federation of Saudi Chambers, Hassan Al-Huwaizi, has met in Riyadh with the Chairman of the Iraqi-Saudi Parliamentary Friendship Committee, Sheikh Shaalan Al-Karim. According to a press release from the state-run Saudi Press Agency (SPA), the meeting explored investment and trade prospects and emphasized the importance of legislation that […]
By John Lee. The Iraqi Ministry of Communications, under the direct supervision of Minister Dr. Hayam Al-Yasiri, announced the signing of a contract for the deployment of the 2Africa Pearls undersea cable. The agreement, signed with Gulf Submarine Cables Company owned by Saudi Arabia's STC, aims to route internet capacities from around the world through […]
From Action Contre la Faim (ACF). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Farmers in southern Iraq hit by water crisis Situated at the crossroads of Iran, Kuwait and Saudi Arabia, Basra is surrounded by salt-stained desert plains and the flares of oil […]
By John Lee. Saudi air carrier flynas has launched its first direct flight between Dammam and Al Najaf on Saturday. An inaugural ceremony was held at King Fahd International Airport (KFIA) in Dammam, attended by HE Iraq ambassador to Saudi Arabia and representatives from flynas, the Saudi-Iraqi Coordination Council, the Saudi General Authority of Civil […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Inside story: Saudi Arabia opens up to Iraq's Shiite shrines Indicating a changing approach to Iraq, Saudi Ambassador to Baghdad Abdulaziz Al-Shammari has paid a highly publicized visit to a major Shiite shrine […]
By John Lee. The Development Fund for Iraq has signed Memoranda of Understanding with 12 Saudi companies. A statement from Saudi Arabia's Ministry of Investment did not specify the companies or the details of the MoU's, but said that they are intended to enhancing cooperation with Iraqi "in a number of qualitative investment projects." (Source: […]
