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. Saudi Arabia cafe chain Kyan Café has opened its first branch in Iraq. The outlet in Basra will initially open from 2:00pm until midnight, but has plans to extend this to 24 hours. It is Kyan's 356th store worldwide. (Source: Kyan Café)
By John Lee. Iraq's Minister of Oil, Hayan Abdul Ghani, met with a delegation from Saudi Arabia's Al-Khorayef Petroleum on Tuesday, including senior representatives Mohammed Al-Dughmi and Khalid Hamza Al-Rikabi. Discussions focused on enhancing cooperation in the oil, gas, and energy sectors. Alkhorayef Group joined the Iraq Britain Business Council (IBBC) in 2023. (Source: Ministry […]
By John Lee. Iraq's National Investment Commission (NIC) Chairman, Dr. Haider Mohammed Makiyya, announced the signing of the Investment Protection and Promotion Agreement with Saudi Arabia on November 24, 2024. The agreement, finalized ahead of the 28th World Investment Conference in Riyadh, aims to create a secure environment for Saudi investors in Iraq, supported by […]
By John Lee. The Fuel Directorate of Iraq's Ministry of Electricity hosted a seminar featuring representatives from Saudi-based CNSA, attended by senior officials including the Ministry's Deputy for Production Affairs, Eng. Mohammed Nema, and other technical specialists. CNSA presented innovative technologies to enhance the efficiency of Iraq's power sector, including: Advanced fuel tank cleaning methods […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq, Saudi Arabia move to shore up military cooperation Iraq and Saudi Arabia have inked a new military cooperation agreement, marking a potentially significant step in their evolving rapprochement. The full article can […]
By John Lee. Saudi Arabia and Iraq have signed a memorandum of understanding (MoU) for cooperation in the military field. The agreement was signed during a visit by Iraq's Minister of Defense, Thabet Mohammed Saeed Al-Abbasi, to Saudi Arabia. No details of the agreement were announced. Saudi Minister of Defense, Khalid bin Salman, added that […]
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 […]
