By John Lee. Dubai-based online fashion retailer Elabelz has started shipping to Iraq. According to a report from Forbes, it will "be the first pioneering player in the uncharted waters of Iraqi e-commerce market". The company, founded in May 2016, has reportedly developed a customized solution of delivery and payment for its clientele in Iraq, […]
Dubai-based Drake & Scull International PJSC (DSI) has announced that it has been awarded a AED 226 million ($61 million) engineering, procurement and construction (EPC) contract for the construction of a water injection network installation project at the Zubair oil field in Basra, Iraq by ENI Iraq B.V. (EIBV) a subsidiary of the Italian oil […]
The Financial Times reports that Iran finds Iraq to be a big market for its domestically produced goods, including fresh milk, antibiotics and cement. Yahya Ale Eshaq, head of the Iran-Iraq Chamber of Commerce, told the newspaper: “Iraq needs everything, which makes it the best market for Iranian-made goods ... “We can work with European […]
By John Lee. Iraq has reportedly overtaken the United Arab Emirates (UAE) to become the largest raw sugar importer in the Middle East. GulfNews quotes an analyst at Platts Kingsman as saying that Iraq imported 210,000 metric tons of raw sugar in the first quarter, compared with 156,600 tons imported by the UAE. Iraq’s only […]
The Iraq Britain Business Council (IBBC) is pleased to announce the appointment of Samer Al-Omari as its UAE Representative. Working part-time from the Weir Group’s offices in Dubai, Samer will help promote IBBC to companies and organisations in the UAE; drive membership recruitment; and coordinate the planning of the IBBC Autumn Conference, which will be […]
By John Lee. In its results for the first quarter of 2016, the Abu Dhabi National Energy Company PJSC (TAQA) has said that its Atrush oil project in Iraqi Kurdistan is expected to commence oil production this year with a maximum gross capacity of 30,000 barrels per day. (Source: TAQA)
By John Lee. The UAE government is set to start work on two new hospital projects to serve Syrian refugees and displaced Iraqis in Kurdistan. The projects, which will include an eye treatment centre, are being carried out with the help of Emirates Red Crescent (ERC). The ERC has already opened a number of new projects […]
By Rami Khrais for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Do gas condensate exports represent new beginning for Iraq's hydrocarbon industry? Iraq exported its first shipment of gas condensate on March 20, from the port at Khor al-Zubair to Fujairah in […]
By John Lee. Kurdistan's Qaiwan Group has secured two loans totalling $105 million to refinance part of the firm's investment in the 442-MW Bazian Power Plant (pictured). According to a report from Trade Arabia, Deutsche Bank has arranged an eight-year $75-million buyer credit, along with the Dubai branch of Lebanon's Bankmed. The finance is being […]
Malta-based Medserv has announced that it has today completed the acquisition of Middle East Tubular Services (METS), a group of companies based in the UAE, Oman and Iraq. Established in 2006 in Sharjah, UAE, METS has grown rapidly becoming a market leader due to its position as the only one-stop-shop for oil country tubular goods […]
By John Lee. Bloomberg reports that Dana Gas PJSC is still waiting for payment of the $1.98 billion that it and two other energy companies -- Crescent Petroleum and Pearl Petroleum -- were awarded by the London Court of International Arbitration (LCIA) in November. The court gave the Kurdistan Regional Government 28 days to pay […]
Dubai-based Redtag, the value fashion and home lifestyle brand, has announced that it plans to open 20 more stores in the MENA region in 2016 including in Saudi Arabia, Oman, Egypt, Iraq, and Uzbekistan. Out of a total of the brand’s over 170 stores across the Middle East, 101 are currently in Saudi Arabia, with […]
