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 Monday, 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, coalition military forces conducted 11 strikes consisting […]

Fitch Revises Outlook on Iraq to Stable; Affirms at ‘B-‘

Fitch Ratings has revised the Outlook on Iraq’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to Stable from Negative and affirmed the IDR at ‘B-‘. The Country Ceiling has been affirmed at ‘B-‘ and the Short-Term Foreign-Currency IDR at ‘B’. KEY RATING DRIVERS The revision of the Outlook reflects the following key rating drivers: Iraq’s fiscal […]

Zain Group names new CEO

By John Lee. At its annual Ordinary General Assembly in Kuwait on Monday, Zain Group appointed a new Board of Directors for the coming three years. Scott Gegenheimer, who has served as CEO for four-and-a-half years, has been moved to the new role of CEO of Operations, while Bader Al-Kharafi (pictured) becomes Vice-Chairman and CEO. […]

Premier Oil has “Successfully Exited” its Position in Iraq

By John Lee. Premier Oil has announced that it has “successfully exited” its position in Iraq. The company was awarded a 40-percent stake in the Block 12 concession in 2012, but said in December 2015 that it would assign its participating interest to the operator, Russia’s Bashneft, which was subsequently acquired by Rosneft. (Source: Premier […]

Japan supporting Community Police Centers in Kurdistan

Japan supports the construction and rehabilitation of the Community Police Centers in the Kurdistan Region of Iraq Thirty community police centers were handed over today to the Police Directorate of Kurdistan Regional Government’s Ministry of Interior, as part of the continuing support from the Government of Japan to Iraq. The project, “Improving the Impact, Effectiveness, […]

Military Strikes Continue Against ISIS Terrorists

U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Sunday, 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 In Syria, coalition military forces conducted five strikes […]

Video: Fear and Hunger in West Mosul

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The luckiest of west Mosul’s residents under Islamic State group rule had tomato concentrate. Potatoes were an almost unheard-of luxury. In parts of Iraq’s war-torn second city seized this week by Iraqi forces, hundreds […]

GardaWorld Weekly Security Report

GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld’s Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments […]

ICTSI Ramps Up Business at Umm Qasr

By John Lee. Philippines-based International Container Terminal Services Inc. (ICTSI) has said it has increased its volumes by 12 percent over the past year, mainly due to the continuing volume ramp-up at its terminal at Umm Qasr port. The company inaugurated the first phase of its $130-million greenfield port development at Basra Gateway Terminal (BGT) […]

Efforts to Privatize Electricity face Resistance

By Salam Zidane for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. In a meeting held Feb. 21, Najaf’s provincial council followed in the footsteps of Dhi Qar, Muthanna, Wasit and Diwaniyah and voted against the privatization of the electricity sector in […]

Counter-ISIS Strikes Continue in Syria, Iraq

U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria, conducting 22 strikes consisting of 82 engagements against ISIS targets on Saturday, 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 […]