New Oil Development Opportunities in Iraq

By John Lee. Iraq’s Ministry of Oil has requested proposals from international oil companies interestsed in developing a number of small- and medium-sized oil fields. The fields concerned are: Sindebad (Basra governorate); Umm Qasr [Um Qaser] (Basra governorate); Rachi (Basra governorate); Abu Khema (Basra governorate); Kumait (Missan governorate); Noor (Missan governorate); Umara (Missan governorate); Dema […]

Iraq Stock Market Gains 11% on Week

Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 20th Oct 2016). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQ883 (+2.7%) / $875 (+11.3%) (weekly change) (-19.0% and -23.6% YTD change, respectively). The number of week traded […]

Iraq Resists Joining OPEC Production Cut

By John Lee. Reuters reports that oil prices came under pressure on Monday as Iraqi oil minister Jabar Ali al-Luaibi [Allibi] said Baghdad wants to be exempt from any production cut the Organization of the Petroleum Exporting Countries (OPEC) is aiming to achieve. Falah al-Amiri, head of the State Oil Marketing Organization (SOMO) added that […]

Iraq Bans Alcoholic Beverages

By John Lee. The Iraq Parliament has approved a law “forbidding the import, manufacture and sale of all kinds of alcohol drinks.” Alcohol has been made readily available in shops, bars, restaurant and hotels in Baghdad and in some of the provinces of Iraq, and it was not unusual for young people in Baghdad to […]

Campaign to Immunize 5.8m Iraqi Children against Polio

Major campaign launched to immunize 5.8 million Iraqi children against polio Today, on World Polio Day the Ministry of Health with support from UNICEF and the World Health Organization (WHO) launched a weeklong nationwide campaign to immunize Iraq’s children against polio. Under the slogan “two drops can change a life,” the five-day campaign aims to […]

Military Strikes Target ISIL Terrorists in Iraq, Syria

U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Iraq and Syria on Saturday, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, fighter and […]

Oil Fires Burn South of Mosul

Combined Joint Task Force – Inherent Resolve is assessing the potential risk to personnel at Camp Swift and Qayyarah West Airfield, located about 50 miles south of Mosul, as a result of nearby burning oil wells and a sulfur plant fire. The coalition has taken air samples and analysis is ongoing to determine what, if […]

Carter Meets With Abadi, Addresses Troops in Baghdad

Defense Secretary Ash Carter met with Iraqi Prime Minister Haider al-Abadi yesterday in Baghdad and spoke with troops there about the fight against the Islamic State of Iraq and the Levant and the ongoing military campaign to retake the city of Mosul. On this week’s international trip Carter also is visiting Turkey, the United Arab […]

Video: Iraq offensive against IS in Mosul

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Al Jazeera‘s Zeina Khodr reports on Iraq’s bid to retake ISIL’s stronghold in the country.

Currency Auction Results, 24th Oct

By John Lee. The Central Bank of Iraq (CBI) has reported that 34 banks and 15 remittance companies took part in its currency auction on Monday. A total of $157,823,144 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)

Union of Iraqi Publishers joins International body

By John Lee. National publishers associations from Iraq, Ivory Coast, Mauritania, Morocco and Senegal became provisional members of the International Publishers Association (IPA). The General Assembly of the Geneva-based IPA agreed that the five applicants had met the conditions to become provisional members. After a period of up to three years, these publishers’ associations will […]

Police Overwhelmed as Drugs from Iran flood Basra

By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.  In the oil-rich city of Basra in southern Iraq, drug-trafficking gangs are gaining power. Through certain areas on the Iraqi-Iranian border, drugs come in from Iran to be consumed in […]