IBBC and the Southern Governorates

By Robert Tollast. The following opinions are the author’s only, and do not necessarily represent the views of Iraq Business News. Despite the grim headlines, the main challenge for doing business in many parts of Iraq is not really security, it is still bureaucracy and a lack of clarity regarding who is responsible for different […]

Iraq Signs Convention on Settlement of Investment Disputes

The Chairman of Iraq’s National Investment Commission (NIC), Dr. Sami Al-Araji, has signed the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention). Iraq has become the 160th country to sign the Convention and the 152nd country to become a member of the International Centre Settlement of […]

PM Barzani Opens Deralok Hydropower Project

In a ceremony attended by Japanese new Ambassador to Iraq, Mr. Fumio Iwai, KRG Prime Minister Nechirvan Barzani inaugurated the 36 megawatt hydropower project near Deralok town in Duhok Governorate. The project is funded by the Japan International Cooperation Agency (JICA) within the framework of Japan’s loan to Iraq. Earlier last week, Prime Minister Barzani […]

Court Orders KRG Pay Dana Gas $100m

The UK’s High Court has ordered the Kurdistan Regional Government (KRG) to pay a consortium led by Dana Gas $100 million within 14 days. In a statement, the KRG’s Ministry of Natural Resources said: “The Court’s decision does not relate to the substantive merits of the claims and counterclaims in the on-going arbitration between the […]

Baghdad-KRI Flights Suspended

By Simon Kent. The Iraqi Civil Aviation Authority has suspended flights from Baghdad to Sulaymaniyah and Erbil in the Kurdish region of Iraq (KRI) for two days, effective from today. The move follows concern that Russian jets and cruise missiles pass though that airspace from the Caspian Sea region, to targets in Syria. It is […]

Japan Lends Funding for Water Treatment

By Simon Kent. Japan will extend a loan worth “billions” of Yen to construct a water treatment facility in Samawah, southern Iraq. According to the Japan Today, the southern city of 300,000 people currently lacks adequate treatment facilities. Between 2003-04 a contingent of Japanese troops were stationed in the city, and the new loan represents […]

Coalition Airstrikes Continue Against ISIL in Syria, Iraq

U.S. and coalition military forces 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 Sunday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, ground-attack, fighter, bomber […]

Currency Auction Results, 23rd Nov

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 Monday. A total of $271,347,366 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq) Related posts: Currency Auction Results, 5th Aug Currency Auction Results, 5th […]

Rare Attack Hits Yusifiyah

By Simon Kent. An improvised explosive device has killed at least 9 people and injured many more in the town of Yusifiyah, about 20km south of Baghdad. The town used to be part of what was once called the “triangle of death” along with nearby Mahmudiyah and Iskandariyah, and was once the scene of almost […]

Concern Grows Over Cholera Outbreak

By Simon Kent. Concern is mounting in Iraq following an outbreak of cholera which has caused at least 5000 cases since September, with many more suspected to have gone unreported. World Health Organization official Rana Sidani described the current crisis, noting that, “We expect an increase in the rate of infections [beyond] the officially declared […]

Row Over Paramilitary Salaries

By Simon Kent. Iraqi Prime Minister Haidar al-Abadi faces new political pressure over the payment of salaries for the 100,000 strong Popular Mobilization Units (PMU) or Hashd al-Shaabi, as they are known in Iraq. The Hashd al-Shaabi were formed last summer after a call from the holy figure Grand Ayatollah Ali al Sistani, to defend […]

Ashti Hawrami: KRG Disguises Oil Shipments

By Simon Kent. In a striking admission of the policy of the Kurdish Regional Government (KRG) Minister of Natural Resources Ashti Hawrami (pictured) has described the outcome of the political deadlock with Baghdad, which has led to secret oil exports by the KRG. Quoted in Reuters,  Hawrami says that following former PM Nouri-al Maliki’s blocking of the KRG […]