Olive Group, one of the global providers of integrated security solutions, and a regular contributor to Iraq Business News, is a Silver Sponsor at the forthcoming Iraq Mega Projects event in Istanbul, Turkey this October 26 - 28th. Olive Group will be speaking at this reputable event, and will host several networking opportunities throughout the […]
A U.S. company held talks on Thursday with Wassit Council on investment opportunities in the province, according to the council’s chairman. “The council discussed on Thursday morning (Oct. 21) investment opportunities with Mike Divhan, director of the U.S. company, the investment opportunities in Wassit,” Mahmoud Abdulreda told Aswat al-Iraq news agency. “The council highlighted the […]
We get many enquiries at Iraq Business News relating to the future of the Iraqi dinar (IQD), for example: Will the Iraqi dinar increase in value? Will the currency be re-denominated, dropping the 'three zeros'? Is it wise to buy Iraqi dinar? Firstly, Iraq Business News is not in a position to give investment advice. […]
The Kurdistan Regional Government's (KRG) Minister of Natural Resources, Ashti Hawrami, has welcomed Marathon Oil Corporation's entry into the Kurdistan Region oil and gas sector, saying that such an experienced company will be “a valuable partner in developing the resources of our Region to the maximum benefit of the people of Kurdistan and Iraq, in […]
The International Organization for Migration (IOM) Iraq Mission has signed an agreement with the United Nations Office for Project Services (UNOPS) to set up a project to support local private and semi-private Business Development Service (BDS) providers in the Governorates of Anbar, Basrah and Erbil. The project aims to develop sustainable business models and engage […]
The head of the National Investment Commission, Sami al-Araji, has said that the main obstacle standing in the way of attracting the foreign investment is the ownership of the land on which the projects will be carried out. He said that the Commission worked to overcome these obstacles but the ownership of the land and […]
National Overview The total number of officially reported hostile incidents nationally decreased slightly from 123 to 116. Baghdad again accounted for the largest proportion of incidents with hostile activity being characterised by assassinations of Iraqi Security Forces and Government of Iraq personnel rather than indiscriminate attacks. There was a notable decline in attacks from Shia […]
Iraq has awarded three of its established gas fields to foreign consortia in the third stage of an energy sell-off, as the country races to supply gas to local power plants and to export markets. The three fields, in the south, centre and far west of Iraq were sold at or slightly below the price […]
According to media reports, Iraq's Central Bank said on Tuesday that the decision to remove the three zeros from the Iraqi currency would require consultation with the next government. Quoting a consultant refered to as Mohammed Saleh, the report says that deleting three zeros from the currency would negatively affect Iraqi citizens, but would facilitate […]
Iraq plans to spend around $680 million in 2011 to renovate its dilapidated factories and start new projects, a senior Industry and Minerals Ministry official told Reuters on Monday. Haifa Hamid, head of the investment department in the ministry, said the economic reform plan was focused mainly on renovating existing factories or establishing new ones […]
Marathon Oil Corporation (NYSE: MRO) announced on Wednesday that it has acquired a position in four exploration blocks in the Kurdistan Region of Iraq. The Company has signed production sharing contracts (PSCs) for operatorship and an 80 percent ownership in two open blocks northeast of Erbil - Harir and Safen. The Kurdistan Regional Government will […]
As Iraq reports the results of its recent gas auctions, the western province of Anbar is demanding more control over its potentially huge energy reserves, including the vast desert province’s Akkas reservoir. According to Reuters, Anbar’s government last week rejected Baghdad’s plan for the auction due to the possibility that surplus gas will be exported. […]
