By Padraig O'Hannelly. The world has broadly welcomed the approval by the Iraqi parliament of the new cabinet of Prime Minister Haider al-Abadi. While the formulation of the new cabinet attempts to keep all factions involved and working together, it was clear from al-Abadi's speech that his arm was twisted in the negotiations, and that […]
By John Lee. Shares in Dragon Oil closed up 0.2 percent on Wednesday following the discovery of oil at Block 9. Kuwait Energy, Dragon Oil's partner in Block 9, issued the following update on the exploration well, Faihaa-1, being drilled in the block: Kuwait Energy announces that the consortium comprised of Kuwait Energy (70% and […]
By John Lee. Influential trade body, the Iraq Britain Business Council (IBBC), has welcomed three new members since the start of August: Zaha Hadid Architects (ZHA), the internationally renowned design firm – with British-Iraqi Pritzker Architecture Prize winner Zaha Hadid at its helm – is set to bring its bold and visionary design to Iraq, […]
By John Lee. At the request of the government of Iraq to provide urgent military support, the UK will supply heavy machine guns and nearly half-a-million rounds of ammunition. China's Xinhua news agency values the assistance at $2.6 million (3 billion Iraqi dinars). According to the statement from the British Ministry for Defence, this will […]
The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The new Iraqi cabinet headed by Haydar al-Abbadi [Abadi] has been approved by the […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Kurdish officials have said that they will support the Iraqi central government and Prime Minister Haider al-Abaddi's cabinet for a three month trial period. But the union remains on shaky ground, with the […]
From CNN. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. CNN's Christiane Amanpour speaks with Iraq's new Deputy Prime Minister Hoshyar Zebari.
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. New prime minister Haider al-Abadi wins parliamentary approval for a power-sharing cabinet. Adrian Finighan speaks to Tariq al Hashimi - a former vice president of Iraq; Ahmed Rushdi - Director of the House […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 15 banks took part in its currency auction on Wednesday. A total of $181,154,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
On 08 September, the Iraqi Parliament voted to form a new government around Prime Minister Haider al-Abadi. The vote did not include the key positions of Defense and Interior Ministers however, which were previously occupied by Nouri al-Maliki and are considered crucial to the Sunni participation in the new cabinet and political process. While the […]
By John Lee. The Dhi Qar governorate intends to invest 500 billion Iraqi dinars ($430 million) in power projects in the next three years, according to a report from Emirates 24/7. Shanan Al Zamli, chairman of the electricity committee in the governing council, told al-Sumaria that the investment will add 2,000 MW to its generating capacity, […]
By John Lee. The Iranian Fars News Agency has reported that construction of Iran-Iraq gas pipeline, which runs to the Al-Mansoureh power plant in Iraq, is now complete. A source told the news agency that supply of Iranian gas along the 48-inches-diameter pipeline should have started already but has been delayed due to the unrest […]
