By Padraig O'Hannelly. What are we to make of the current situation in Iraq? The country has a new government, which is a positive development, but the Prime Minister's nominations for some key posts have been rejected. Meanwhile, the US is hitting the Islamic State (IS) with airstrikes, but President Obama confirms that there will […]
By John Lee. The Kurdistan Region of Iraq has exported more than 14 million barrels of oil from its independent oil pipelines to Turkey in the last nine months, according to a report from BasNews. A spokesman for the KRG's Natural Resources Committee told the news agency that the exports have brought in over 1 […]
Minister Falah Mustafa, Head of the Department of Foreign Relations, began a weeklong visit to Washington DC by thanking America for supporting the peshmerga in their battle against the Islamic State of Iraq and al-Sham and briefing US congressmen and businesspeople about the humanitarian crisis facing the Kurdistan Region. Minister Mustafa will be joined by […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. US Secretary of State John Kerry tells the Senate Foreign Relations Committee that US military action to counter Islamic State militants in Iraq and Syria is not a repeat of the Gulf or Iraq […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 16 banks took part in its currency auction on Thursday. A total of $189,741,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. In its interim results on Wednesday, Petroceltic gave an update on its operations in Iraqi Kurdistan. The company, along with Hess (as operator) has been active in the Kurdistan Region since 2011 when the Shakrok and Dinarta blocks were awarded with Petroceltic holding a 16% interest in each. Activity for the first […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 16 banks took part in its currency auction on Wednesday. A total of $218,422,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By Anne-Laure Barbosa at Constellis Consulting The formation of the new Iraqi government last week led to the swift mobilisation of several Western powers pledging support to the Kurds and Iraqi forces. On 15 September, leaders from thirty countries promised to help fight the Islamic State militants in the north of Iraq, following an international meeting […]
By John Lee. The Iraqi parliament has rejected the two candidates proposed by Prime Minister Haidar al-Abadi for the posts of Interior Minister and Defense Minister. In what Bloomberg describes as a setback for efforts to unite the country against the Islamic State, moderate Sunni Jaber al-Jaberi has been rejected as defense minister, and Riyad […]
By John Lee. American aircraft have reportedly bombed Islamic State (ISIS, ISIL) fighters near Baghdad on Tuesday. US Central Command said the airstrike was "the first taken as part of our expanded efforts beyond protecting our own people and humanitarian missions". A spokesman said it was "an important strike" in Sadr al-Yusufiya, 25km (15 miles) […]
By John Lee. Hellfire Systems LLC, of Orlando, Florida, has been awarded a $68,721,521 [80 billion Iraqi dinar] modification (P00104) to firm-fixed-price, foreign military sales contract W31P4Q-11-C-0242 to acquire 1,361 Hellfire II tactical missiles in containers and air-to ground missiles: model AGM-114R, AGM-114R-3, AGM-114P-4A, TGM M36E7, and ATM-114Q-6. The countries involved in this foreign military […]
By John Lee. Iraq has agreed to increase cement imports from Iran. Jahanbakhsh Sanjabi Shirazi, the head of Iran-Iraq Joint Chamber of Commerce, told Fars News Agency: "As of September 1, each (Iranian) company can export 15,000t of cement into the neighbouring country from Shalamcheh, Chazzabeh and Mehran border terminals." He noted that the new […]
