Tag Archives | United Arab Emirates (UAE)

Dana Gas Expansion Plans "Well Underway" in Kurdistan

By John Lee. Dana Gas PJSC announced that its H1 2021 collections from the Kurdistan Region of Iraq (KRI), and Egypt have increased 106% year-on-year to $185 million (AED 678m), the highest level in more than five years. Dana Gas, which owns a 35% stake in Pearl Petroleum, saw its share of collections from sales […]

Engineers Still Held Without Charge in Iraq

By John Lee. Australian citizen Robert Pether and his Egyptian colleague Khalid Radwan are reportedly still being held without charge in Iraq, following a contract dispute relating to the construction of the new Central Bank of Iraq (CBI) head office in Baghdad. The pair were detained in early April, having allegedly been tricked into traveling […]

Masdar to Develop Solar Projects in Iraq

By John Lee. Masdar, a subsidiary of the Abu Dhabi-based¬† Mubadala Investment Company, has signed a strategic agreement to develop 2,000 MW of solar photovoltaic (PV) projects in Iraq. Heads of Agreement (HOA) were signed at a virtual ceremony by His Excellency Majid A. Hantosh, Minister of Electricity, the Republic of Iraq, Her Excellency Suha […]

Major UAE Firms want to Invest in Iraq

By John Lee. The UAE's Ambassador to Iraq, Salem Issa Al Zaabi, has reportedly to the Federation of Iraqi Chambers of Commerce that several major Emirati companies want to invest in Iraq. Salem Issa Al Zaabi added that he had a productive meeting with the Federation's President, Abdul Razzaq Al Zuhairi, who said that Iraq […]

ADIB launches Digital Banking Platform in Iraq

Abu Dhabi Islamic Bank (ADIB) has said it will strengthen its presence in Iraqi market by launching "ADIB Direct", a digital platform that meets the growing business demands in Iraq. ADIB Direct is an intuitive digital banking platform that integrates a suite of corporate banking solutions into a single, streamlined interface. The platform offers cash […]

Egyptian Architects to Rebuild Al-Nouri Mosque in Mosul

An international jury has announced that an entry by eight Egyptian architects won the international competition for the reconstruction of the historic Al-Nouri Mosque complex in Mosul, Iraq, a major component of UNESCO's ambitious project for the rehabilitation of the ancient city, Revive the Spirit of Mosul. Selected from among 123 entries, the winning design […]

GE Closes Financial Deal for Iraqi Electricity Projects

Iraqi Ministry of Finance and GE Mark Financial Close of Power Up Plan The Iraqi Ministry of Finance (MoF), GE and their financial partners have celebrated the financial close -- a critical milestone that marks the final step of a loan agreement becoming effective -- of the Power Up Plan 4 (PUP4). Under PUP4, GE […]

UAE announces $3bn Investment in Iraq

By John Lee. The United Arab Emirates (UAE) has announced a $3-billion investment in Iraq, with the aims of strengthening economic and investment relations, creating new opportunities for cooperation and partnership and advancing developmental growth to support the Iraqi people. The initiative was announced following Iraqi Prime Minister Mustafa Al-Kadhimi's official visit to the UAE […]

Dana Gas to Increase Drilling in Iraqi Kurdistan

Dana Gas PJSC, the Middle East's largest regional private sector natural gas company, today announced its Preliminary Unaudited Financial Results for the full year ended 31 December 2020. The Company reported a Net Profit of $36 million (AED 131mm) versus $88 million (AED 322mm) in 2019, excluding one-off non-cash impairments and other income. Including these […]

Al Faris Starts Operations at Khor al Zubair

By John Lee. Dubai-based cranes and heavy equipment supplier Al Faris has started operations at Khor al Zubair. According to a press release, the company has invested in the latest advanced equipment, including Liebherr cranes ranging from 100t to 600t, and its heavy haulage equipment includes hydraulic trailers, SPMT's, semi-trailers and low-bed trailers. It has […]