News for Jan, 2014 issue

Oil Discovery in KRG

The Canadian oil company, Oryx Petroleum, announced the discovery of a new oil well south of Erbil. According to the primary research the area contains about 23 million barrels of crude oil. (Aswat AL-Iraq)


Standard Chartered Bank in Baghdad

The prime minister of Iraq’s Central Government, Mr. Nouri AL-Maliki officially opened Standard Chartered Bank’s branch in Baghdad on Nov 17, 2013. The goal is to connect Iraq with the financial institutions around the world through the existence of international banks in Iraq.  (Aswat Al-Iraq)


Iraq to Import Food from Azerbaijan

Representative from the Iraqi Ministry of Agriculture met with Azerbaijan delegate early December 2013. Iraq addressed the country’s need for importing vegetables and fish and Azerbaijan offered to export the needed to Iraq; the whole trading value between the two countries is expected to be $419 million. (Iraq Business News)


Turning Waste into Energy, Finally in Implementation

Iraq’s Ministry of Industry and Minerals announced that it would implement a project to turn waste into electric energy and chemical product. Al-Rasheed Company will head this project and the Ministry will contract with 18 international companies to help make the project a success. (Al-Sumaria)


Startup Weekend Basrah

After a series of successful Startup events in Erbil, Sulaimani, and Baghdad now it is Basrah’s turn. Startup Weekend Basrah is expected to be held in Basrah early 2014.