Military Strikes Target ISIL Terrorists in Syria, Iraq

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

Iraq Raises March Oil Prices

By John Lee. Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra and Kirkuk crude oil for March. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced are relative to the Argus Sour Crude Index (ASCI); […]

Shell Boss meets Oil Minister

By John Lee. Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] met on Sunday with the CEO of Shell in Iraq, Hans Nijkamp. The meeting was attended also by Mr. Hamid Y. Salih, the deputy minister of gas, Mr. Abd Al-Mahdi Al-Ameedi the director general of the Petroleum Contracts & Licensing Directorate (PCLD), and other […]

Mosul Dam at ‘Higher Risk’ of Failure

By John Lee. A new report by the U.S. Army Corps of Eengineers (USACE) says that the probability of Mosul Dam collapsing is even greater than was previously believed. According to Associated Press, the problem is that the dam was shoddily built on unstable ground: The earth underneath it is constantly being eroded by water. […]

How to Overcome Iraq’s Economic Crisis

By Ali Mamouri, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq’s economic crisis is about to get worse. The government, which relies on oil for 90% of its revenue and 80% of foreign exchange earnings, faces plunging oil prices combined with rampant corruption and […]

Currency Auction Results, 10th Feb

By John Lee. The Central Bank of Iraq (CBI) has reported that 26 banks and 19 remittance companies took part in its currency auction on Wednesday. A total of $120,740,000 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq) Related posts: Currency Auction Results, 10th Jan Currency Auction Results, 10th […]

UK Software Firm Wins Contract with TBI

UK-based financial software company Misys announced today that it has been selected by Trade Bank of Iraq (TBI) as a strategic partner to assist the bank in upgrading to a next generation digital platform in order to gain a competitive edge in Iraq’s growing banking industry. Hamdiyah Mahmood Faraj Al-Jaff, Chairman, Trade Bank of Iraq […]

Al-Abadi calls for ‘Fundamental’ Change to Cabinet

By John Lee. Prime Minister Haider al-Abadi has called for the inclusion of technocrats and academics in the government in a “fundamental” reshuffle to his cabinet, according to a report from AFP. In a speech on Tuesday, al-Abadi called on parliament “and all the political blocs to cooperate with us in this serious phase“. Iraqi […]

UNICEF, Iraqi Govt Renew Promise to Children in Need

UNICEF and the Government of Iraq today signed the 2016-2019 Country Programme Action Plan, a four year framework by which both parties will work to ensure a bright future for Iraqi children. “In the context of continuing violence across the country, it is all the more critical that we work hand in hand with our […]

Iraq Struggles to Combat Evolving Terrorist Threat

By Mustafa al-Kadhimi, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq needs to up its game if it hopes to keep up — or rather, catch up — with ever-evolving terrorist groups such as the Islamic State (IS). The Iraqi government is unable to secure its […]

Strikes Hit ISIL Terrorists in Syria, Iraq

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