Kuwait signs $100m Grant for Iraqi Reconstruction

Kuwait has approved a $100 million grant for Iraq to support humanitarian and reconstruction projects in areas retaken from IS, according to a statement from Iraq’s Reconstruction Fund chief Mustafa Al-Hiti. The grant is the first Kuwaiti financial assistance to Iraq since Iraq’s occupation of Kuwait in 1990/1991 under then-President Saddam Hussein. Officials from the […]

Asiacell Customer Numbers “Increased Significantly”

In its Q1 results, Ooredoo reports that its Iraqi division Asiacell maintained profitability and data market leadership in what it described as a “challenging economic and political environment”. Customer numbers increased significantly by 13% to reach 12 million customers following network reconnection in liberated areas of the country. Asiacell maintained stable revenues of QAR 1.1 […]

Mosul IDPs in Kurdistan Region rise to 164,000

Since the start of military operations in October 2016 to liberate the City of Mosul, the number of internally displaced persons, IDPs, who have taken refuge in the Kurdistan Region has risen to 164,000 people. They are mainly located in camps in Erbil and Duhok Governorates. In an interview with Kurdistan Regional Government website, Hoshang […]

Coalition Strikes Target ISIS Terrorists in Syria, Iraq

U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Wednesday, conducting 29 strikes consisting of 56 engagements, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in Syria In Syria, […]

Final Expansion at Halfaya Oil Field

By John Lee. The Head of the Missan Oil Company (MOC) has said that the third and final phase of work to expand the Halfaya oil field has been launched. Adnan Noshi told Reuters that the target is to double Halfaya’s capacity to 400,000 barrels per day in 2018. He said Halfaya, operated by PetroChina, […]

Iran Khodro ups Capacity at Iraq Plant

By John Lee. Iran Khodro (IKCO) has said that 2,500 units of its Samand model (pictured) are expected to be produced this year in its Iraq plant. The site at Iskandariya has been upgraded with new equipment, and now has the capacity to make 45 to 50 cars per day. (Source: IKCO)

Mercy Corps Conducts First Cash Aid Distribution in Mosul

The global organization Mercy Corps has begun providing civilians in the eastern half of Mosul with cash assistance, the first international aid organization to do so. The government of Iraq estimates that military operations in Mosul have led more than 362,000 people to flee their homes. “As we’ve entered previously inaccessible areas in the city, […]

Can Iran stop Iraqi Kurdistan Independence?

By Hamdi Malik for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.  As talk of an independence referendum for Iraq’s Kurdistan Regional Government (KRG) grows, Iran’s role is becoming more visible, especially that of Qasem Soleimani (pictured), the powerful commander of […]

Petrofac wins new $70m Iraq Contract

Petrofac has secured a series of contract awards worth more than US$70 million for engineering, operations and maintenance services in Iraq. Petrofac’s Engineering and Production Services’ (EPS) East business secured the awards during the first quarter of 2017 with two major International Oil Companies and the South Oil Company (SOC). Petrofac has been providing services […]

$27m to Overhaul Iraqi Military Patrol Boats

By John Lee. Swiftships LLC has been awarded a $27,402,593 firm-fixed-price modification to a previously awarded contract (N00024-14-C-4217) for the accomplishment of continuous lifecycle support for the Iraqi Navy. The contractor will provide technical expertise in preventative and planned maintenance, emergent repairs and platform overhaul support services for Iraqi patrol boats, offshore vessels, and defender […]

Officials Release Details of Latest Strikes Against IS

U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria yesterday, conducting 35 strikes consisting of 78 engagements, Combined Joint Task Force Operation Inherent Resolve officials reported today. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in Syria In Syria, coalition […]