The latest UAE Business News – Emirates, investment, services, construction, companies & more – brought to you by Iraq Business News
By John Lee. Dubai’s overall exports and re-exports from the private sector to Iraq rose by more 350 percent to value $11.4bn in 2012, according to data from the Dubai Chamber. Trade with Libya was up by 300 percent, while trade with Turkey doubled. The Chamber’s director general, Hamad Buamim, said Dubai accounts for 75 […]
By John Lee. Abu Dhabi's Invest AD plans to buy into the Asiacell IPO (initial public offering), making it the top holding in its Iraq fund. Sherif Salem (pictured), the manager of the Invest AD Iraq Opportunity Fund, and one of our Expert Bloggers on Iraq Business News, said: "Asiacell is going to be one […]
By John Lee. Air Arabia, the first and largest low-cost carrier (LCC) in the Middle East and North Africa, today announced the start of services to Basra, its third destination in Iraq. Inaugural flight G90377 landed in Basra international airport today at 09:15 commencing the start of service to the Iraqi City. The carrier offers […]
The Anbar provincial council has announced a new project to cultivate desert of the western region. Hasssan al-Mulla, chairman of the council's investment committee, told Aswat al-Iraq news agency: "The provincial council signed a memorandum of understanding with a UAE company, which includes a group of foreign companies, including a British one, to cultivate the […]
By John Lee. Majid Jafar (pictured), the chief executive of UAE-based Crescent Petroleum, has said the company is gearing up for expansion in the Iraqi oil and gas sector. Speaking to Reuters on the sidelines of the World Economic Forum (WEF) in Dubai, he said: "We are looking at entering Libya with the right opportunity. […]
By John Lee. Dana Gas may become the first United Arab Emirates (UAE) company to fail to pay an Islamic bond on maturity, according to a report from Reuters which cites "three sources familiar with the matter". Shares in the UAE's largest listed natural gas firm fell more than 4% on the Abu Dhabi Securites […]
Low-cost airline Air Arabia has announced the launch of services to Erbil, its second destination in Iraq. Flights to the Iraqi city will commence on October 14th, marking Air Arabia’s 76th destination worldwide. The carrier will offer four weekly services between Sharjah and Erbil. On Mondays, Fridays and Sundays, flights depart from Sharjah International Airport […]
By John Lee. Air Arabia is to launch services to Erbil from 14th October, according to a report from Arabian Aerospace. The company will offer four weekly services between Sharjah and Erbil: On Mondays, Fridays and Sundays, flights depart from Sharjah International Airport at 07:00 and arrive in Erbil International Airport at 09:00. Return flights […]
By John Lee. Emirates Airlines has commenced flights to Erbil, considered to be one of the oldest cities on earth. An Emirates’ A340-300, carrying a VIP delegation and media landed in Erbil, the capital of northern Iraq and the airline’s third gateway into the country after Baghdad and Basra. Travelling aboard the inaugural flight, which […]
Aquascapes, the swimming pools design and construction division of UAE based Belhasa Projects has won new projects in Iraq and Maldives. In Erbil, Iraq, the company has won contracts for landscape design for a luxurious villa and a hotel. According to Malay Shah, General Manager, Aquascapes: "We are excited to enter the landscape design market […]
By John Lee. Two contracts have been signed with a company from the United Arab Emirates to invest in the Zubair Free Zone, according to a report from Aswat al-Iraq. AIN names the company as "Oren Hidrocker Pons", and says it is a specialist in the chemical industry. One project is described as "commercial", the […]
By John Lee. Abu Dhabi Islamic Bank (ADIB) said on Tuesday that it has launched operations in Iraq, reportedly the first UAE-based financial institution to get approval from the Iraqi Central Bank to operate there. The lender said it would initially serve corporate and private banking customers, but will eventually offer corporate finance, investment banking […]
