Trade Bank of Iraq names New Chairman

By John Lee. The Trade Bank of Iraq (TBI) has announced that Salem Chalabi [Salem Jawad Abdul Hadi Al-Jalabi] has taken over as the company's Chairman and President with immediate effect. Prime Minister Mustafa Al-Kadhimi appointed the Yale graduate to succeed Faisal Al Haimus, who has been named as head of the Iraq Securities Commission […]

US Charges Two over Alleged Bribery in Iraq

Two individuals have been charged with bribery offenses in connection with Department of Defense contracts as part of the Fraud Section's ongoing efforts to combat corruption and fraud in contracting on U.S. military installations overseas. Mark Alan Fryday, 37, and Lara Jumaah Mohammed, 30, both residing in Erbil, Iraq, were charged in an indictment filed […]

New Railway to be built between Mosul and Turkey

By John Lee. A new railway line will reportedly be built between Mosul and Turkey. Anadolu Agency quotes the governor of Mosul, Najim al-Jubouri, as saying that a team of engineers with the support of Turkish companies will start laying a new line "in the coming days". (Source: Anadolu Agency)

Petrel Resources updates on Iraq Interests

By John Lee. In its financial results for the six months ended 30th June 2020, Petrel Resources made the following statement on its interests in Iraq: "Petrel is active once more in Iraq after a hiatus since 2010 due to political and financial instability. We negotiated a large exploration block, Block 6, in the Western […]

French Development Agency may open office in Baghdad

By John Lee. France has proposed the opening of a branch of the French Development Agency (Agence française de développement, AFD) in Baghdad. The idea was discussed at a meeting between the Head of Iraq's Europe Department, Ali Shamran, and Abdel Nour Barhami, the economic advisor at the French embassy in Baghdad. (Source: Ministry of […]

Iraq to Export Barley for the First Time

By John Lee. Iraq's Ministry of Agriculture has reportedly announced that it will export barley for the first time. A ministry spokesman told Shafaaq News Agency that 700,000 tons of barley will be auctioned next week, with ten countries expressing an interest in bidding. (Source: Shafaaq)

Call for EU to Remove Iraq from List of High-Risk Countries

Foreign Minister Renews Call for European Commission to Remove Iraq from List of High-risk Countries in Terrorist Financing and Money Laundering Foreign Minister Mr. Fuad Hussein has met with Mr. Josep Borrell, the High Representative for Foreign Affairs and Security Policy in the European Union, at the European Commission headquarters in Brussels. Minister Fuad Hussein […]

Iraqi Govt steps up Fight Against Corruption

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraqi Government steps up Fight Against Corruption The arrest of six senior officials on corruption charges shows that serious steps are taken in the fight against corruption, amid […]

Security Council Extends UNITAD Mandate

Security Council Unanimously Extends UNITAD Mandate The Security Council decided unanimously today to extend the mandate of the United Nations Investigative Team to Promote Accountability for Crimes Committed by Da'esh/ISIL (UNITAD) until 18 September 2021. The extension, reflected in resolution S/RES/2544 (2020), was made at the request of the Government of Iraq. Special Adviser and […]

India creates Air Transport Bubble with Iraq

By John Lee. India has created an air bubble arrangement with Iraq. Indian and Iraqi carriers are now permitted to operate services between India and Iraq and carry the following categories of persons on such flights: A. From India to Iraq i. Nationals/residents of Iraq; ii. Any Indian national holding any type of valid visa […]