July 18th, 2018 | 0 commentsThe Iraq Britain Business Council (IBBC) has announced that OILSERV has joined the Council. OILSERV is an independent Oilfield Service Company founded with the purpose of providing world class solutions to clients operating across the Middle East and North Africa. OISERV’s comprehensive range of business lines covers the full life cycle o...
July 18th, 2018 | 0 commentsIraqi Electricity Minister Qassem Al-Fahdawi said yesterday that his country has failed to convince Iran to resume supplying Iraq with electricity. Last Friday, Al-Fahdawi along with an Iraqi delegation arrived in Tehran where they held talks with Iranian officials to resume supplying Iraq with 1,000 megawatts of electricity, which Tehran...
July 9th, 2018 | 0 commentsOrascom Construction Egypt will partner up with German industrial conglomerate Siemens to rebuild Baiji power plant in Iraq after it was destroyed by ISIS, Iraq's commercial attaché to Cairo Haidar Nouri Al-Jabr said. He added that both firms will work on boosting the production capacity of the power plant to 1,500 megawatts, according to...
June 27th, 2018 | 0 commentsThe Iraqi parliament requested yesterday that 13 senior officials from the elections commission be dismissed before the manual counting of votes begins, Al-Araby Al-Jadeed reported. Based on the ruling of the High Federal Court the judges, who monitor the elections commission, decided on Sunday to manually recount votes in a number of pol...
June 27th, 2018 | 0 commentsIraq’s Prime Minister and Leader of Al-Nasser Coalition (Victory Alliance), Haider Al-Abadi, has been trying to avoid making a coalition with his predecessor, Nouri Al-Maliki, Al-Araby Al-Jadeed reported on Monday. Working with the Sa’eroon Coalition leader Muqtada Al-Sadr, Al-Abadi has been exerting efforts to avoid such a deal. Al-Nasse...
June 27th, 2018 | 0 commentsGulf Keystone Petroleum (GKP) has mandated Pareto Securities to arrange fixed income investor meetings in conjunction with a potential bond issue. Following these meetings, and subject to market conditions and acceptable terms, a 5-year senior unsecured bond issue of $100 million (the “New Notes”) may take place. The proceeds from the New...
June 27th, 2018 | 0 commentsThe International Finance Corporation (IFC), a member of the World Bank Group, is providing a financing package of $269 million to Zain Iraq, a leading mobile network operator, to help reconstruct the country’s telecom operations and spur economic growth. IFC arranged a $269 million debt package including $100 million from IFC’s own accou...
June 20th, 2018 | 0 commentsIn Baghdad, locals have been fretting about dramatic falls in the level of the Tigris river. The government has a plan. Only problem is, that plan requires billions in funding that Iraq does not have. The passengers in the small bus all peer out anxiously as the vehicle crosses the Sanak bridge – the name used by locals for the Rashid bri...
June 20th, 2018 | 0 commentsFly Erbil, Iraq’s only Kurdish airline, successfully completed its first scheduled flight on Monday. The plane set off from Erbil International Airport en route to Stockholm in Sweden. The airline’s administrative director Ahmad Jamal told AFP that Fly Erbil currently has three planes and plans to increase to 10 in the future. Other desti...
June 19th, 2018 | 0 commentsraq has reportedly bought 1.75 million tonnes of domestic wheat so far this season. According to the report from Reuters, the is well below a trade ministry’s target of 2.5 million tonnes. The wheat purchasing season began on 16th April and is expected to last until the end of June. -Iraq Business News
