Cursor International executes projects and collaboration activities across several industries.
By John Lee.
Private investors from Iraq and Turkey have reportedly held preliminary negotiations with Iran to expand and modernize its fuel stations.
According to a report from Petrol Plaza, there are 3,600 fuel stations and 2,400 compressed natural gas (CNG) stations in Iran which need renovation and investment.
To date, more than 250 state-controlled fuel stations have been privatized in the country.
(Source: Petrol Plaza)
(Picture credit: Asadi S)
US Ambassador to Iraq Douglas Silliman (pictured) has joined other distinguished guests and speakers at the Iraq Banking and Investment Summit on December 2.
The Ambassador spoke about the need to create economic opportunity for Iraq’s younger generation through a transition from a government-controlled, oil-based economy, toward a more diversified free market system that fosters and encourages private investment.
He noted the need to improve the ease of doing business in Iraq and emphasized that a sound banking system will be crucial to provide financing for aspiring entrepreneurs and business people.
The U.S. Embassy supports Prime Minister Abadi’s efforts to address these reforms and is actively engaged in promoting U.S. business investment in Iraq.
(Source: US Embassy)
By John Lee.
The escalating tensions between Baghdad and Erbil have triggered an unprecedented upsurge in applications from wealthy Iraqi nationals for second citizenship programs.
Data collected by Savory & Partners, one of the largest companies in the Middle East that provides citizenship-by-investment programs, shows that compared to the same quarter last year, interest has increased by 300 percent, while applications processed are more than 42 percent higher than last year.
Company founder and CEO Jeremy Savory (pictured) told Iraq Business News:
“The immediate days following the Kurdistan referendum saw a remarkable spike in the number of applicants from Iraq, not only from Kurdish Iraqis, but from all parts of Iraq.
“In the past, the Iraqi passport was very strong … but over recent years the number of countries which have visa-free waivers has dropped considerably; hence, the need for second passport that enables people to travel to more countries visa free has seen a great spike.
“We have done Iraqi citizenship applications for Iraqi nationals for all the five Caribbean jurisdictions, all of which have been approved by the government. We have done European citizenship applications for Malta and Cyprus for Iraqi nationals, too.”
Iraqis constitute the company’s third largest client group after Syrians and Lebanese, with St. Kitts, Grenada and Dominica in the three most popular programs with an equal demand for all three programs. The company had only one Iraqi rejection in the last six years out of total of close to 800 passports, a rejection rate of less than 1 percent.
Iraq Britain Business Council holds successful Autumn Conference in Dubai
Following on from the first Iraq Britain Business Council conference in Dubai in 2016, the IBBC was delighted to host its Autumn Conference in the UAE once again. The event was strongly supported by the UAE authorities.
Alongside Baroness Nicholson, the UK Prime Minister’s Trade Envoy to Iraq and President of the IBBC, the conference was opened by H.E. Abdullah Al Saleh, Under Secretary for Foreign Trade and Industry, UAE Ministry of Economy.
The Minister reminded delegates that non-Oil & Gas related trade between the UAE and Iraq had already passed 11 Billion USD in 2016, with Dubai in particular being a hub for local and international companies in the region.
The Minister firmly believes that the UAE’s role in the rebuilding of Iraq will continue to expand and expressed his wish to cooperate with organisations such as the IBBC to accomplish this crucial task.
Vikas Handa, IBBC UAE Representative and the Managing Director of the Emirati Company DrillTech, warmly thanked the minister and stated that the IBBC stands ready to work even more closely with the UAE in Iraq.
The Government of Iraq sent a high calibre ministerial delegation led by H.E. Mr Qasim Al-Fahdawi, The Minister of Electricity, to the conference. The delegation included H.E. Mrs Ann Naufi Aussi Balbool, Minister of Construction Housing and Public Municipalities; H.E. Kadhim Fijan Al Hamami, Minister of Transport; H.E. Dr Sami Al Araji, Chairman of the National Investment Commission (NIC); and H.E. Mr Fayadh Hassan Nima, Deputy Minister of Oil for refining affairs.
The conference was structured around several sessions in which the Iraqi officials and international companies operating successfully in Iraq, most of which are members of the IBBC, exchanged their views and experiences.
These sessions focused on strengths, weaknesses and opportunities of the economy in Iraq, Reconstruction & Infrastructure, Transport, Power and Oil & Gas. In parallel, a series of high level round-table discussions between investors and Iraqi Government representatives took place.
The conference included for the first time a presentation on the rapidly developing Tech sector in Iraq , given by the CEO of Zain.
IBBC thanks the International Finance Corporation (World Bank) and the IMF for its participation. Thanks also go to the IBBC members who sponsored the conference: Gold Sponsor International Islamic Bank; Silver Sponsors Serco and Gulftainer; Lunch Sponsor Rolls-Royce; pre-reception Sponsor Wood; and Coffee Break Sponsors Eversheds Sutherland and KCA Deutag.
IBBC Managing Director, Christophe Michels, stated that the increasing involvement of the UAE and wider GCC with Iraq was a game changer for the country. The IBBC very much welcomes this development and is delighted to be part of it and support it. The organisation will increase its presence in the UAE and the Autumn Conference in Dubai will become a regular feature in its calendar of events.
(Source: IBBC)
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.
The economy in the Kurdish region of Iraq has taken a hit after the referendum on secession.
The central government in Baghdad has closed international airspace, tourists are staying away, and there’s been fighting between Iraqi forces and Kurdish Peshmerga.
And while a ceasefire is now in place, uncertainty continues to affect the region and its economy.
The Kurds are disappointed in the people they thought were their allies, especially the US.
Al Jazeera‘s Stefanie Dekker reports from Dohuk, Northern Iraq@
Iraqi ministers intend to announce and discuss up to 60 intended projects at the IBBC summit conference this weekend in Dubai.
In a surge of confidence, a number of Iraqi ministers will be unveiling a raft of infrastructure, oil, power and industrial projects across numerous industry sectors:
Vikas Handa, Director of IBBC Dubai says:
“We have been pleasantly surprised by the volume of opportunities the Iraqi Ministers have come forward with this Autumn, and it’s clear they are keen to drive forward economic development through major projects. There are also numerous adjacent opportunities on offer for a broad range of sectors.
“For those companies interested to attend the Conference, they will also be able to engage with the Delegation at more intimate round table discussions.
“We welcome companies to enjoy the inside track, to meet the attending ministers and discuss how your company can engage with these opportunities.”
To attend, register and sign up for the conference here: www.webuildiraq.org/ibbc-conference/autumn-conference/
Rebuilding Iraq is central to the agenda of the Iraq Britain Business Council (IBBC) autumn conference at The Address, Dubai Marina on 12th November.
The opportunity for businesses in the region to engage in Iraq is reflected by the attendance of a number of high profile Iraqi Ministers: from Electricity, Transport, Oil, Construction and Housing, to the Governor of Basrah and International financiers, including the IMF and World Bank.
Vikas Handa, the IBBC UAE representative agrees:
“Iraq is the second largest oil producer in OPEC and has one of the biggest programmes for new power generation projects in the region; Iraq presents massive opportunities for housing, Infrastructure and FMCG businesses. The event is designed to discover the opportunities and projects live and intended in Iraq, for business people to meet the decision makers, to obtain insights and to network”.
UAE is increasingly seen as the regional hub for corporate operations in Iraq and the place where business decisions are determined.
We can confirm this as a range of leading international companies are attending, including GE, Siemens, BP, Wood, Serco, Shell, Petronas, Gulftainer, Zain, KCA Deutag, the International Islamic Bank and more. There will also be plenty of networking and engagement on the sidelines beyond the main stage.
The IBBC Dubai conference is also the location for the Governor of Basrah to outline his vision for the future, and it is expected ministers will outline the latest thinking on the evolving situation in Iraq and the opportunities this brings.
To register, please follow the link: http://www.webuildiraq.org/ibbc-conference/autumn-conference/
(Source: IBBC)
Rebuilding Iraq is central to the agenda of the Iraq Britain Business Council (IBBC) autumn conference at The Address, Dubai Marina on 12th November.
The opportunity for businesses in the region to engage in Iraq is reflected by the attendance of a number of high profile Iraqi Ministers: from Electricity, Transport, Oil, Construction and Housing, to the Governor of Basrah and International financiers, including the IMF and World Bank.
Vikas Handa, the IBBC UAE representative agrees:
“Iraq is the second largest oil producer in OPEC and has one of the biggest programmes for new power generation projects in the region; Iraq presents massive opportunities for housing, Infrastructure and FMCG businesses. The event is designed to discover the opportunities and projects live and intended in Iraq, for business people to meet the decision makers, to obtain insights and to network”.
UAE is increasingly seen as the regional hub for corporate operations in Iraq and the place where business decisions are determined.
We can confirm this as a range of leading international companies are attending, including GE, Siemens, BP, Wood, Serco, Shell, Petronas, Gulftainer, Zain, KCA Deutag, the International Islamic Bank and more. There will also be plenty of networking and engagement on the sidelines beyond the main stage.
The IBBC Dubai conference is also the location for the Governor of Basrah to outline his vision for the future, and it is expected ministers will outline the latest thinking on the evolving situation in Iraq and the opportunities this brings.
To register, please follow the link: http://www.webuildiraq.org/ibbc-conference/autumn-conference/
(Source: IBBC)
On Thursday 12th October a delegation of IBBC Members, led by Baroness Nicholson, Honorary President, met with H. E. Mr Asaad A., the recently appointed Governor of Basrah. The meeting took place in the Governor’s office, included a Lunch and lasted until the early evening.
The Governor presented his plans for Basrah and asked the company representatives how they could contribute to help achieve his ambitious objectives. IBBC members used the opportunity to introduce their companies and their services to the Governor and to participate in a wide ranging discussion with him.
Mr Rasmi Al Jabri, Deputy Chairman of IBBC, who facilitated the meeting was delighted with its many outcomes. He said that with Mr Edani at the helm of the Governorate the Province had a real chance to develop and modernise. He further commented that IBBC and all of its members stood ready to support Governor in his crucial work.
The IBBC delegation included representatives of the following companies: Basrah Engineering Group, Basrah Chamber of Commerce, Dar Al-Handasah, Ernst & Young, Garda World, Gulftainer, International Islamic Bank, Khudairi Group, Pell Frischmann, Penspen, Petrofac, Raatba Contracting Company, Restrata, Rumaila Operating Organisation (ROO) and Solar Turbines.
The meeting was also attended by Dr Ali Nasir and Phil Sherwood of the AMAR foundation.
(Source: IBBC)
IBBC Autumn Conference 2017: ‘Together We Build Iraq’
12 November 2017, The Address Dubai Marina, Dubai
The Iraq Britain Business Council (IBBC) is pleased to invite you to the IBBC Autumn Conference at The Address Hotel Dubai Marina, United Arab Emirates, on Sunday 12 November 2017.
This years’ event follows IBBC’s successful inaugural conference of 2016 held in the UAE, a hub for global and regional companies that operate in the Middle East.
The theme of this year’s Autumn Conference is ‘Together We Build Iraq’ and will focus predominantly on the ongoing effects and needs of Iraq’s reconstruction and the opportunities of investment available to British and International companies during this process. There will also be panels discussing the Power and Oil & Gas sectors.
The five conference sessions will focus on:
The IBBC Autumn Conference 2017 will be chaired by Vikas Handa, IBBC UAE Representative and will be led by the following confirmed speakers:
A pre-conference reception and networking event will be held on Saturday 11 November at 18:00 at the Address Dubai Marina.
IBBC warmly thanks the International Islamic Bank, which has generously agreed to be the event’s Gold Sponsor, in addition to Silver sponsors Serco & Gulftainer. Completing the sponsorship line-up are Amec Foster Wheeler, which will serve as the Reception sponsor, and Coffee Break Sponsors KCA Deutag & Eversheds Sutherland.
Sponsorship opportunities are still available. Please email london@webuildiraq.org for details.
Registration is now open. The registration fee for non-members is £700. IBBC members and members of partner organisations are entitled to special discounted rates. To request the discount codes or if you need assistance, please email the team at london@webuildiraq.org or phone +44 (0) 20 7222 7100.
The IBBC team looks forward to seeing you in Dubai for the Autumn Conference.
Download the latest Agenda Here.