KFB Group signed a Memorandum of Understanding (MoU) with the US firm Eaton Corporation for co-operation in a wide range of activities from trading and distribution of IEC products, assembly of IEC MV Systems and promotion of its busway systems in the Kingdom of Saudi Arabia.

Iraq will receive loans from Japan totalling US$750mn to help rebuild the countrys damaged and ageing infrastructure, after Japans rime Minister Yoshihiko Noda met with Iraqi leader Nouri al-Malik.

IFC, the World Banks investment arm, will invest around US$800mn into Iraq over the next three years to help boost development in the private sector, Rashad Kaldany, vice president of IFC said.

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International Finance Corporation (IFC), the World Banks investment arm, will invest around US$800mn into Iraq over the next three years to help boost development in the private sector, Rashad Kaldany, vice president of IFC said.

North American Western Asia Holdings (Nawah), set up by former Silicon Valley executive and US government official Paul Brinkley and American businessman Thomas Pritzker, will also offer advisory services to build enduring businesses in the region. Nawah said its initial investment focus will be in Iraq.