Iraq on Friday signed a contract with a consortium led by Italy's Eni to develop the giant al-Zubair oil field in the southern province of Basra. Iraq's oil Ministry and Eni led consortium were negotiating the deal to develop the 4-billion-barrel oil field since last year. Besides Zubair deal, Iraq, first time since 2003, will also strike seven new contracts for other oil finds.

Bloom Properties, a leading realty firm from Abu Dhabi has announced its business plans for Iran by investing $18 billion in the country as reported by UAE daily ‘The National’ on Tuesday.

The firm, according to some confidential sources, is in negotiations with Iraqi authorities for getting some development contracts in the Shi'ite holy city of Karbala where two million pilgrims comes to visit the Imam Hussein and Hadrat Abbas shrines.

French state-owned airport operator Aeroports de Paris, has secured an order worth $42.5 million contract from Iraq’s transport ministry for a new upcoming international airport in Baghdad.

The new airport, which will be built between the three provinces of Kerbala, Najaf and Hilla, is scheduled to be ready within 3 to 5 years, with an initial capacity of five million passengers per year and eventual capacity of 35 million per year.

Baghdad Airport currently manages around 7 million passengers a year

Kuwait-based company Al-Nukhba has received an order worth $35 million to build a hotel at Basra International Airport in Iraq.

Sources reported that the hotel will be established according to the international Holiday Inn standards, and include 4 restaurants, swimming pools, meeting halls, a movie theatre and a business centre.

The project is scheduled to be completed in next 8 months.

Bahrain Air has revealed that it has taken the necessary preparations to start direct commercial flights from Bahrain to the Republic of Iraq, Baghdad and Najaf, International Airports at a total of seven flights a week, where by two weekly flights to Baghdad International Airport, and five weekly flights to Najaf International Airport, starting from August 28, 2009.

With the aim to lend support to war-struck Iraq, Sheikh Mohammed bin Zayed al-Nahayan, Abu Dhabi crown prince on Tuesday paid a surprise visit to Iraq.

Nuri al-Maliki, PM of Iraq, warmly welcomed the crown prince at Baghdad international airport and gladly informed that he is really thankful for the support extended by the United Arab Emirates, of which Abu Dhabi is the capital.

In the latest high profile visit by regional Arab dignitaries to Iraq, the crown prince of Abu Dhabi was welcomed by Iraq’s PM.

It was reported by Sheik Mohammed Bin Zayed Al Nahyan, who is also the deputy commander of the United Arab Emirates’ that his visit aims at building and strengthening friendly ties between the two countries.