By John Lee. UAE-based Dana Gas said on Wednesday that its Pearl Petroleum subsidiary recently received $101 million payments from the Kurdistan Regional Government (KRG). However, the shares were trading down approximately 1 percent, as overall revenues and profits saw a decline. Full statement from Dana Gas: Highlights - H1 2023 KRI production increased by […]
By John Lee. The Kurdistan Region of Iraq has started to export potatoes to the United Arab Emirates. According to a statement from the KRG, more orders are expected. Full statement from KRG: The agricultural sector in the Kurdistan Region is experiencing remarkable growth, particularly in the area of potato cultivation. This progress is evidenced […]
By John Lee. The Iraqi Minister of Transport, Mr. Razaq Mahibis Al-Saadi, held a wide-ranging meeting with a delegation from the United Arab Emirates (UAE) representing Abu Dhabi Ports and Etihad Rail at the Ministry's headquarters in recent days. He welcomed the visiting delegation, highlighting the exceptional relationship between Iraq and the UAE and expressing […]
By Salim A. Essaid for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Saudi Arabia, UAE invest $6 billion in Iraq operations The United Arab Emirates and Saudi Arabia will join together to boost trade and commerce in Iraq. Click here […]
Basra Gateway Terminal (BGT), International Container Terminal Services, Inc.'s (ICTSI) operation at the Port of Umm Qasr, recently welcomed the first direct freight service between the United Arab Emirates (UAE) and Iraq. Operated by DP World, the service connects Jebel Ali in Dubai with Umm Qasr and potentially all of Iraq with what a press […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Emir's second visit in two years highlights rising Qatari role in Iraq Qatar's Emir Sheikh Tamim bin Hamad Al Thani has met with top officials in Baghdad in his second visit to Iraq […]
By John Lee. The Central Bank of Iraq (CBI) has reportedly been ordered to pay $13 million to Abu Dhabi-based Cardno ME (CME), relating to a dispute over the construction of its new headquarters in Baghdad. The International Chamber of Commerce (ICC)'s International Court of Arbitration is said to have made the ruling in February, […]
DP World has launched what is says is the first direct freight service between the UAE and Iraq, "to make the flow of goods between the two countries faster, safer and more efficient." The service caters for what the industry calls "unaccompanied trailers" -- trailers which can be transported by sea without the driver and […]
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani has held talks in recent days with representatives of business interests from several countries: On Monday, the Prime Minister received the President of the US-Iraqi Business Council, and the Vice President of the American Chamber of Commerce for Middle East Affairs, Mr. Steve Lutes. The meeting […]
Dana Gas has announced its financial results for the first quarter ended 31 March 2023. For the first quarter of 2023, the Company generated a net profit of AED 183 million ($50 million) as compared to AED 198 million ($54 million) in Q1 2022. Profitability for the quarter dropped just 7% compared to a 22% […]
By John Lee. Pakistan's Attock Cement Pakistan Limited has given notice of an Extraordinary General Meeting (EGM) to be held on 25th May to approve the sale of its cement grinding facility in Iraq. According to a stock excchange filing, Attock proposes to sell its 60-percent share (18 million shares) in Saqr Al-Keetan for Cement […]
By John Lee. Iraq's Ministry of Transport met with a delegation from the Dubai-based company Gravo DMCC to discuss the delegation's request for support and development of Iraq's railway sector through partnership. The meeting was attended by the relevant department directors. It was decided to continue meetings between the parties to try to achieve shared […]
