Currency Auction Results, 24th May

By John Lee. The Central Bank of Iraq (CBI) has reported that 39 banks and 10 remittance companies took part in its currency auction on Wednesday. A total of $150,321,047 sold at a price of 1184 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)

SOMO considers JVs in Oil Shipping, Storage

By John Lee. Reuters reports that following the setting up a new oil trading firm with Lukoil subsidiary Litasco, the State Oil Marketing Organization (SOMO) is considering setting up similar ventures in shipping and oil storage. The news agency quotes the head of SOMO, Falah Alamri, as telling the CWC Iraq Petroleum Conference: “The idea is […]

Iraq bans Turkish Tomatoes

By John Lee. In a bid to boost local tomato production, The Iraqi government has banned the import of tomatoes from Turkey. A statement from the Iraqi Ministry of Agriculture and Water Resources said the tomato production of Najaf and Karbala is enough to supply all of domestic demand. Rudaw reports that Iraq imported tomatoes […]

Video: International Football Returning to Iraq

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. After a years-long absence predominantly due to security concerns, international football will return to Iraq when the country hosts a second-round match of the Asian Football Confederation (AFC) Cup.

Counter-ISIS Strikes Hit Terrorists in Syria, Iraq

U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Monday, conducting 27 strikes consisting of 99 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, […]

Currency Auction Results, 23rd May

By John Lee. The Central Bank of Iraq (CBI) has reported that 40 banks and 10 remittance companies took part in its currency auction on Tuesday. A total of $154,598,421 sold at a price of 1184 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)

Saudi Arabia, Iraq discuss Economic Cooperation

Prime Minister Haider Al-Abadi received the Saudi Arabian Minister of Energy, Industry and Mineral Resources, Khalid bin Abdul Aziz al-Faleh, and his accompanying delegation in his office on Monday. During the meeting, they discussed boosting cooperation in the oil sector, industry, petrochemicals, electricity, minerals, trade and banks, as well as reviewed cooperation to support OPEC […]

Military Strikes Continue Against ISIS Terrorists in Syria, Iraq

U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Sunday, conducting 22 strikes consisting of 72 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, […]

Currency Auction Results, 18th May

By John Lee. The Central Bank of Iraq (CBI) has reported that 38 banks and 10 remittance companies took part in its currency auction on Thursday. A total of $153,858,635 sold at a price of 1184 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)

Navistar Wins $18m Iraq Contract

By John Lee. US-based Navistar Defense LLC has been awarded an $18,778,845 firm-fixed-price foreign military sales contract for 115 medium tactical vehicles for Iraq. One bid was solicited and one bid received. Work will be performed in West Point, Mississippi; Ooltewah, Tennessee; and Marion Wisconsin, with an estimated completion date of Jan. 13, 2018. (Source: […]