Abu Dhabi-based AD Ports Group and Iraq's International Development Bank (IDB) have signed a Memorandum of Understanding to review opportunities for ports and logistics projects that could enhance trade flows between the UAE and Iraq. The agreement was signed by Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, and […]
By John Lee. The Abu Dhabi Exports Office (ADEX) has reportedly signed a line-of-credit agreement worth AED36.7 million (US$10 million) with the National Bank of Iraq (NBI). According to WAM, the financing agreement was signed virtually by Khalil Al Mansouri, Acting Director-General of ADEX, and Ayman Abu Dhaim, CEO of the National Bank of Iraq. […]
By John Lee. Abu Dhabi-based retail chain Lulu Group is reportedly raising funds to finance an expansion into Iraq. A director told Khaleej Times that the company plans an IPO next year, and will continue to add new outlets and new markets, including Iraq and North Africa. More here. (Source: Khaleej Times)
By John Lee. Dubai- based Coffee Planet has announced its new partners in Iraq, Business River. In a statement, the company said: "Being one of the largest importers of FMCG products in the region, Business River will be the exclusive distributors of Coffee Planet in Iraq." Business River is an Iraqi company established in early […]
IBBC focused on 'Business Opportunities' at this year's Dubai Iraq Conference, 10 & 11 November Iraq Britain Business Council (IBBC)'s Dubai Autumn Conference this year is going to be significantly focused on 'Business Opportunities' for members and delegates, with the discussion of tangible investment and business opportunities throughout the sessions. Iraq has a bullish consumer […]
By Hamdi Malik and Michael Knights for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi Militia Group Makes Credible New Threat Against the Gulf States The facade group in question tends to follow through on its […]
By John Lee. Iran has reportedly closed its land borders to Iraq in response to the upsurge in violence in the country. According to AFP, Iranian flights to the country have also been halted. Meanwhile, Iran's Mehr News says that while passenger travel is suspended, people are being allowed to return to their home countries, […]
Dana Gas PJSC has announced its financial results for the half year ended 30 June 2022. In the first six months of the year, the Company generated a net profit of AED 407 million ($111mm) or 5.8 fils per share, an 82% increase compared to an adjusted net profit (excluding reversal of impairment) of AED […]
By John Lee. Dubai-based air and travel services provider dnata has announced significant expansion of its operations in Erbil. The company opened a new, advanced cool chain facility and a bus maintenance facility for its state-of-the-art bussing fleets at Erbil International Airport (EBL), which together represent a total investment of US$ 3.5 million. dnata has […]
By John Lee. The Sri Lankan Ministry of Foreign Affairs has announced that it will temporarily close its Embassy in Baghdad. The decision, with effect from 30 April 2022, is part of a general restructuring of Sri Lanka's diplomatic representation overseas, undertaken in the context of economic situation and foreign currency constraints faced by the […]
KRG Prime Minister Masrour Barzani and UAE Minister of Cabinet Affairs, Mohammed al-Gergawi on have signed a Memorandum of Understanding (MoU) on governance and the exchange of information. The MoU will further cooperation between the KRG and UAE, with the UAE offering the Kurdistan Region assistance in the development of government affairs and human resources, […]
By John Lee. The UN Working Group on Arbitrary Detention has concluded that Australian engineer Robert Pether and Egyptian engineer Khalid Radwan were "arbitrarily detained on discriminatory grounds", and demanded their immediate release. The pair have been detained in Iraq since April 2021, following a contract dispute relating to the construction of the new Central […]
