The latest UAE Business News – Emirates, investment, services, construction, companies & more – brought to you by Iraq Business News
By Patrick M Schmidt. In the wake of other airlines and the American Federal Aviation Administration’s (FAA) ban for American commercial airlines, Abu Dhabi based airline, Etihad Airways, has announced that they will redirect their aircraft around Iraqi airspace. The airline has cancelled all flights to Erbil, but will maintain its current flight operations to […]
By Patrick M Schmidt. Sir Tim Clark, Chief Executive of Emirates Airlines, has announced that the airline would no longer allow its own aircraft to fly over Iraq. This statement comes as a reaction to the missile strike on Malaysian Airlines MH-17 and concerns about ISIS militants in the north of Iraq being in possession […]
By John Lee. The Kurdistan Regional Government (KRG) has rejected a statement by Abu Dhabi-listed Dana Gas to the effect that the London Court of International Arbitration had awarded the company the right to receive some outstanding payments from the Kurdish government. Dana Gas said on Sunday that its consortium with Crescent Petroleum and Pearl Petroleum […]
The United Arab Emirates Deputy Minister of Economy and Trade, Abdullah Saleh, visited the Kurdistan Region this week to attend the 2014 TradeUAE Iraq conference in Erbil. The conference included 115 Emirati companies specializing in a wide range of sectors, including energy, the food industry, petrochemicals, construction, as well as companies offering banking and communications […]
Dubai Chamber of Commerce and Industry has urged Iraqi banks and financial companies to expand their networks within the Islamic economy through Dubai which is working hard towards becoming the capital of Islamic Economy in the World during a roundtable discussion on “Islamic Finance” held in Divan Hotel, Erbil, Kurdistan. The meeting, which identified the […]
Dubai Investments PJSC [DI] has announced that Dubai Investments International – its wholly-owned subsidiary targeting overseas expansion, is currently tapping into business opportunities in Africa and Asia. As a first step in scaling up its overseas operations, DI International is targeting investments, joint ventures and strategic partnerships across Africa and Asia, and also eyeing commercial […]
By John Lee. Dubai's Dragon Oil reports that it has spudded an exploration well using a drilling rig from the Iraqi Drilling Company. The well is targeting two prospective reservoirs, and testing is expected to take place in 2H 2014. The consortium consists of Dragon Oil (30 percent) and Kuwait Energy Corporation (70 percent and […]
NAWAH Port Management (NPM), a business unit of North America Western Asia Holdings (NAWAH), has completed the offloading of the third container vessel running weekly service between the United Arab Emirates and the company’s container terminal at Al Maqal Port in urban Basra. Historic Al Maqal Port, also known as the Port of Basra and […]
Abu Dhabi's Bristol Vehicle Manufacturing Division (Bristol VMD) has announced it has rolled out seven new fire-fighting and emergency response vehicles as part of a multimillion-dollar contract with Russia's Gazprom Neft. ConstructionWeekOnline reports that the new fleet of vehicles -- five oilfield fire-fighting vehicles, one rescuer and pollution-control vehicle, and a water and foam support trailer […]
By John Lee. Dubai Chamber of Commerce and Industry (DCCI) plans to open an office in Iraqi Kurdistan during the first quarter of 2014. Hamad Buamim (pictured), DCCI president and CEO, told Gulf Business: “Kurdistan is a market that is experiencing considerable growth ... “Iraq as a whole, given its rebuilding efforts, has significant potential […]
Cihan Bank, a leading private sector Islamic bank from Iraq, is planning to set up a representative office in the UAE and has plans to enter into tie-up with leading UAE banks, according to reports from Gulf News. “Currently, we have an office in Dubai," Gulf News quoted Nawzad Yahya Bajger, vice chairman of Cihan. […]
By John Lee. Foreign Minister Hoshyar Zebari has opened the new Iraqi embassy in Abu Dhabi , capital of the brother United Arab Emirates with the participation of His Highness Sheikh Abdullah Bin Zaied Al Nuhaiyan, UAE Minister of Foreign Affairs, senior officials, members of the Arab and foreign diplomatic corps and a group of […]
