The latest UAE Business News – Emirates, investment, services, construction, companies & more – brought to you by Iraq Business News
By John Lee. UAE-based Dana Gas is reported to be considering spinning off its upstream business, which would include its 35-percent stake in Pearl Petroleum, which owns the righs to the Khor Mor (pictured) and Chemchemal fields in the Kurdistan Region of Iraq (KRI). TradeArabia quotes Hamid Jafar, Chairman of Dana Gas, as saying: "We […]
By Alice Bosley and Patricia Letayf, Co-Founders of Five One Labs. Reflections on Investments in Iraq’s Tech Ecosystem 2019 showed an exciting development for Iraq's entrepreneurial ecosystem: the investments in two Iraqi tech startups - e-commerce company Miswag, which received investment from Iraq Tech Ventures, and Lezzoo, the first Iraqi startup to join Silicon Valley’s […]
Malta-based Medserv has announced that it has today completed the acquisition of Middle East Tubular Services (METS), a group of companies based in the UAE, Oman and Iraq. Established in 2006 in Sharjah, UAE, METS has grown rapidly becoming a market leader due to its position as the only one-stop-shop for oil country tubular goods […]
Iraq’s youngest airline, FlyBaghdad, is in talks to start flying to Dubai and plans to launch European routes in early 2016, according to a report from Gulf News. The airline’s Regional Commercial Manager, Mohammad Abdali, told the news agency that the Iraqi-owned airline started domestic flights to Erbil, Sulaymaniyah, Najaf and Basra from its hub […]
By John Lee. UAE-based Aerovista announced on Thursday that it is providing its A320-200 (SX-BDS) aircraft on an ACMI basis (i.e. aircraft, complete crew, maintenance, and insurance) to Iraqi Airways. "By partnering with Aerovista," the company said, "Iraqi Airways are able to provide services to Europe by using an EASA approved carrier with European crew. […]
By John Lee. The Kurdistan Region of Iraq has imported 26 tons of gold in the first six months of the year, a reduction on the same period last year. According to a report from Shafaaq News, 16.7 tons were imported through Sulaymaniyah International Airport, 8.2 tons through Erbil International Airport, and 1 ton through […]
By John Lee. The Kurdistan Regional Government (KRG) has reacted angrily to a statement from Sharjah-based Dana Gas. Shares in the company jumped 13.7 percent on the Abu-Dhabi stock exchange on Sunday after the company won a ruling in the London Court of International Arbitration (LCIA) in its long-running dispute with the KRG in Iraq […]
By John Lee. Abu Dhabi’s Bloom Holdings is reportedly planning to build a new town outside Karbala. The project, which will take 10 years to complete, involves the construction of 40,000 villas, along with hospitality and educational components, according to Khaleej Times. Sameh Muhtadi (pictured), CEO of Bloom Holdings, told the newspaper: “We have received […]
By John Lee. Iraq's Transport Minister has said that companies from the UAE, Iran, Turkey and China have offered to invest $7.4 billion dollars (8.6 trillion Iraqi dinars) for the development of the Grand Faw (Grand Fao) port project. Baqir Al Zubeidi told al-Forat news agency that the investment would cover the construction of quays […]
By John Lee. O3b Networks announced a multi-year agreement to provide trunking services to UAE-based Meosat, an internet service provider to the oil and gas industry. The new capacity is intended to serve oil industry clients in southern Iraq. (Source: Telecompaper)
By Patrick Schmidt. The United States military has repositioned and deployed additional military resources to Iraq in the wake of two major events. The brutal murder of a Jordanian fighter pilot by the Islamic State (IS, ISIS, ISIL) has sent another shock through the international community. As a result, the United Arab Emirates has withdrawn […]
By John Lee. Several airlines have suspended flights to Baghdad on Tuesday after bullets hit an airplane as it was landing at Baghdad International Airport. Reuters reports that two passengers were slightly injured when three or four bullets hit the body of a flydubai plane carrying 154 passengers on Monday evening. It was not known […]
