By John Lee. A Saudi-based bottling company is reported to be planning to open a new factory in Iraq next year. According to The National, Aujan Coca-Cola Beverages Company (ACCBC), a subsidiary of Aujan Group Holding, will invest up to 250 million Saudi riyals ($67 million) over the next two years, creating for more than […]
By John Lee. The state-owned Trade Bank of Iraq (TBI) has reportedly received verbal approval from the Saudi Arabian Monetary Authority (SAMA) to open a branch in Saudi Arabia next year. Chairman Faisal Al Haimus told The National in Abu Dhabi that the bank will launch an asset management business in Abu Dhabi. The lender […]
By John Lee. Saudi Arabia has appointed Abdulaziz Al-Shammari as its new ambassador to Iraq. Al-Shammari, who has been Charge d'Affaires of the Saudi embassy in Iraq since October 2016, was sworn in on Sunday before King Salman in Riyadh. Relations between the two countries have been improving recently, with high-level visits, the opening of […]
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraqi-Saudi relations have witnessed significant improvement after years of boycott that had worsened during Nouri al-Maliki’s rule between 2006 and 2014. On Oct. 22, the establishment of a Coordination […]
By John Lee. Saudi Arabia and Iraq are to discuss the opening a border crossing between the countries for the first time in 27 years. On Tuesday, the Saudi Council of Ministers authorised the minister of finance to work with Iraq to draft an agreement on the re-opening of the Arar border post, which has […]
Saudi Arabian Airlines (SAUDIA), the national carrier of Saudi Arabia, began operating nonstop flights between the airline’s hub in Jeddah and the Iraqi capital city of Baghdad on Monday. The route will commence as a daily service until November 15, with double-daily frequency thereafter. A single-class Airbus A330 will be deployed on the route, featuring […]
By John Lee. Saudi Arabian budget airline Flynas is reported to be planning to start services to several Iraqi cities in the coming weeks. If the plan goes ahead, it would be the first service between the two countries since Saddam Hussein invaded Kuwait in 1990. (Source: Middle East Eye)
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Locals in Anbar celebrated when an important Iraqi-Jordanian border crossing was recently reopened. But the drivers who use it say many areas are still too dangerous to pass through. When […]
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. The Tureibil crossing, or more commonly known as the Karameh border crossing, between Jordan and Iraq reopened in early September in tandem with the opening of another border […]
By John Lee. Saudi Arabia is reportedly planning to re-open the Arar [Ar'ar] border crossing with Iraq for the first time since 1990. Sohaib al-Rawi, the governor of Anbar province, is quoted as saying that the Iraqi government had deployed troops to protect the desert route leading to Arar and called its opening a "significant […]
Iraqi Interior Minister Qasim al-Araji (pictured) has said that Saudi Prince Mohammad bin-Salman has "officially asked Iraq to act as a mediator between Tehran and Riyadh to reduce tensions." According to a news agency report, Al-Araji made the remarks at a joint press conference with his Iranian counterpart Abdolreza Rahmani-Fazli in Tehran. Referring to his […]
Reuters reports that a former Iraqi oil minister said it was necessary for Iraq to regain the Iraqi Pipeline in Saudi Arabia (IPSA), which has not carried Iraqi crude since Saddam Hussein invaded Kuwait in 1990, and which was confiscated by Saudi Arabia in 2001 as compensation for debts owed by Baghdad. Bahr Al Olum, […]
