Featured Stories
3G Should Bolster Telco Revenues Cyprus to Open Office in Erbil Profile: Qassem Suleimani EarthLink chooses Level 3
 
3G Should Bolster Telco Revenues

3G Should Bolster Telco Revenues

By John Lee. A telecommunications analyst has said that the recent launch of 3G services in Iraq should stabilize the revenue and profit of Iraq’s mobile phone operators this year, following the difficulties caused by the war against the Islamic State (IS, ISIS, ISIL). Omar Maher of EFG Hermes told Reuters that 2016 could see high […]

Cyprus to Open Office in Erbil

Cyprus to Open Office in Erbil

Minister for Foreign Affairs of the Republic of Cyprus, Ioannis Kasoulides, received Minister Falah Mustafa on Thursday to discuss bilateral ties between the Kurdistan Region and the Republic of Cyprus as well as latest developments in the wider region. In welcoming Minister Mustafa and his accompanying delegation, Foreign Minister Kasoulides said, “We are determined to […]

Profile: Qassem Suleimani

Profile: Qassem Suleimani

Iraqi army and militia forces are fighting to take back Tikrit from the so-called Islamic State. Pulling the strings on the Iraqi side is an Iranian: Major-General Qassem Suleimani, the ‘shadow commander’ who has been described as the single most powerful operative in the Middle East. As the leader of the foreign branch of Iran’s […]

EarthLink chooses Level 3

EarthLink chooses Level 3

Level 3 Communications has announced it has been selected by internet and communication solutions provider, EarthLink Telecommunications — the largest Internet Service Provider in Iraq — to provide the secure global connectivity needed to support enterprise customers from EarthLink’s Middle East location. EarthLink’s 400-plus points of presence enable its customers to communicate in its local market. Yet the company faced the challenge […]

FM al-Jaafari Meets Syrian President al-Assad

FM al-Jaafari Meets Syrian President al-Assad

25 March 2015

By John Lee. During an official visit to Syria on Tuesday, Foreign Minister Dr. Ibrahim Al Jaafari met Syrian President, Bashar Al Assad, and Foreign Minister, Walid Al Muallem. Minister Jaafari stressed in a joint press conference with his Syrian counterpart that the visit is part of Iraq's...

Read the full story

Posted in Politics, Security4 Comments

Weekly Security Update: 17 – 23 March 2015

24 March 2015

 National Overview Coalition prepares to cooperate in ISF-militia campaign to liberate Tikrit, amid extension of US reconnaissance and air support. While US drone flights are known to have been taking place since 21 March, (reaching as far east as Muqdadiya, 50km from the Iranian border),...

Read the full story

Posted in Weekly Security Update9 Comments

Will the CBI Try Dinar QE?

Will the CBI Try Dinar QE?

24 March 2015

By Mark DeWeaver. This year the Ministry of Finance (MoF) is set to sell IQD 11 trillion in new debt to the state sector banks, thereby partially filling the hole in the central government budget left by the recent collapse in oil prices. The new issuance should bring total treasury bills...

Read the full story

Posted in Investment, Mark DeWeaver on Investments and Finance15 Comments

LUKoil Confirms Commitment to Iraq

LUKoil Confirms Commitment to Iraq

24 March 2015

By John Lee. LUKoil President Vagit Alekperov had a meeting with Iraq’s Prime Minister, Haider al-Abadi, and the country’s Minister of Oil, Adel Abdul Mahdi, in Baghdad on March 22. The discussion focused on progress in the development of West Qurna-2 and the future of the field...

Read the full story

Posted in Oil & Gas7 Comments

Gazprom Neft to Conduct Seismic Survey

Gazprom Neft to Conduct Seismic Survey

24 March 2015

Gazprom Neft is to conduct a 2D seismic survey on the south-eastern section of the Halabja block. The technical equipment and personnel required for the survey are currently being transferred from the south-western section, where the company has already successfully completed a survey spanning...

Read the full story

Posted in Oil & Gas9 Comments

Germania Suspends Erbil Flights

Germania Suspends Erbil Flights

24 March 2015

By John Lee. Germania has suspended air services to Erbil, which has come under increasing threat from Islamic State (IS, ISIS, ISIL) terrorists. Germany's Federal Ministry for Transport (Bundesministerium für Verkehr und digitale Infrastruktur - BMVI) has prohibited all flights by German...

Read the full story

Posted in Security, Transportation5 Comments

PM al-Abadi to Visit US

PM al-Abadi to Visit US

24 March 2015

By John Lee. President Obama will host Iraqi Prime Minister Haider al-Abadi at the White House on Tuesday, April 14. According to a statement from the United States' Embassy in Baghdad, the Prime Minister’s visit underscores the strategic partnership between the United States and Iraq and...

Read the full story

Posted in Politics, Security3 Comments

The Many Names of Abu Bakr al-Baghdadi

The Many Names of Abu Bakr al-Baghdadi

24 March 2015

By Ali Hashem for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Even to those who have hunted him and followed his every move, Islamic State (IS) Caliph Abu Bakr al-Baghdadi remains a mystery. “Before anything I...

Read the full story

Posted in Security5 Comments

Kuwait Energy, EGPC Partner on Block 9

Kuwait Energy, EGPC Partner on Block 9

23 March 2015

By John Lee. Kuwait Energy and Egyptian General Petroleum Corporation (EGPC), the national oil company of Egypt, have jointly announced the signing of an agreement whereby EGPC has farmed in a 10 percent participating interest in the Block 9 license. The Block 9 field is located in the Basra...

Read the full story

Posted in Oil & Gas8 Comments

France Considers Projects in Wassit

France Considers Projects in Wassit

23 March 2015

By John Lee. The French Consul General has reportedly said the French companies are interested in investing in Wassit Wasit] on a deferred payment basis. The Governor of Wassit province, Malik Khalaf, told AIN that during a visit to the province the Consul General discussed infrastructure...

Read the full story

Posted in Industry & Trade, Oil & Gas6 Comments

Iraq Stock Market Report

Iraq Stock Market Report

23 March 2015

Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 21st March 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,215 (+14.8%) / $1,275 (14.8%) (weekly change) )...

Read the full story

Posted in Investment5 Comments

HEESCO Meets Turkish Companies

HEESCO Meets Turkish Companies

23 March 2015

By John Lee. The director general of the Heavy Engineering Equipment State Company (HEESCO) has held a meeting with a delegation from the Turkish companies ENKA and Gimtas. Mr. Deiaa Gumar said the two companies recognised the capabilities of HEESCO in making equipment for oil refining,...

Read the full story

Posted in Construction & Engineering, Oil & Gas4 Comments

Armenia to Open Consulate in Erbil

Armenia to Open Consulate in Erbil

23 March 2015

Kurdistan Region Prime Minister, Nechirvan Barzani, has received Mr. Levon Sargsyan, Ambassador-at-large and Special Envoy of the Armenian Government, and Mr. Karin Gregorian, Ambassador of Armenia to Iraq. Mr. Sargasyan conveyed the greetings of the President and Prime Minister of Armenia to...

Read the full story

Posted in Industry & Trade4 Comments

Iraq to Sell Heavy Basra Crude from May

Iraq to Sell Heavy Basra Crude from May

22 March 2015

By John Lee. Reuters cites sources as saying that Basra Heavy crude, with an API gravity of 24 degrees, will be sold from May. It will be allocated to companies with technical service contracts, such as Lukoil , Petronas, CNPC, CNOOC, BP, ExxonMobil and Shell. The State Oil Marketing...

Read the full story

Posted in Oil & Gas0 Comments

India Builds Oil Reserves with Basra Crude

India Builds Oil Reserves with Basra Crude

22 March 2015

By John Lee. India's oil ministry has instructed state refiners Indian Oil Corp and Hindustan Petroleum Corp (HPCL) to buy eight million barrels of Basra crude oil for delivery in May and June. The country is looking to build up its strategic petroleum reserve (SPR) at the current low market...

Read the full story

Posted in Oil & Gas0 Comments

Iraq Wants to Attract more Brazilian Companies

Iraq Wants to Attract more Brazilian Companies

22 March 2015

Iraq wants to expand the presence of Brazilian companies in its market. That was the theme of the visit made by Adel Alkurdi, ambassador of the Arab country in Brasilia, to the Arab Brazilian Chamber of Commerce in São Paulo this Thursday (19th). The diplomat was welcomed by the president of the...

Read the full story

Posted in Industry & Trade0 Comments

IBN Newsletter 'FREE Weekly Subscription'

Advertise with IBN