By John Lee. Iraqi counter-terrorism experts have announced that the recent increase in US air strikes in the Mosul dam area (north of Mosul) have caused two waves of ISIL retreats. Following the beheading of American journalist James Foley, the Islamic State issued a warning to the US that further strikes would see the execution […]
By Patrick Schmidt. The Iraqi government has announced that security forces have reclaimed the K3 Refinery in Haditha. The Islamic State of Iraq and the Levant (ISIL) had occupied the facility and expelled its staff from the area. Security officials announced that they had killed a number of militants and were now inspecting the facility […]
By John Lee. The Canadian government has confirmed that they have two cargo planes operational to assist in the transfer of arms and supplies to Iraqi Kurdish forces. Canadian Foreign Minister John Baird (pictured) went as far as to endorse US air strikes against the "brutal" ISIS: “Canada supports all efforts, including United States supply drops […]
By John Lee. Iraqi Foreign Minister Hoshyar Zebari has recently given an interview with Rudaw English discussing his hopes for a new Iraqi government that can improve the relations between Baghdad and the Kurdish Regional Government. Despite a joint Kurdish--Iraq security operation to re-take Mosul dam with US air cover (initially reported as being solely Kurdish) […]
By John Lee. The Italian government has joined Germany and France in saying they are preparing to send arms and other assistance to both Kurdish aligned forces and the federal government of Iraq in Baghdad. The move follows a visit to Iraq by Italian Prime Minister Matteo Renzi, who announced on his return that Italy […]
By John Lee. French President Francois Hollande has called for an international conference to discuss new strategies to counter the Islamic State of Iraq and the Levant (ISIL). It is not the first time such an idea has been discussed, with counter-terrorism expert David Kilcullen suggesting a repeat of the WW2 ARCADIA conference, only this time aimed […]
The Sea Triumph, an oil carrier chartered by LITASCO (LUKOIL's international marketing and trading arm) has departed the port of Basra in Southern Iraq with the first batch of oil as part of the recovery of LUKOIL's costs from the West Qurna-2 project. The shipment volume amounts to 1 million barrels of oil. The vessel […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Kurdish fighters in northern Iraq have regained control of several towns east of Mosul from the Islamic State group. The Peshmerga, backed by US air strikes, are fighting to retake the Mosul Dam, […]
The United Nations refugee agency said on Tuesday that it is launching one of its largest humanitarian aid pushes in response to the deteriorating situation in Iraq, aiming to help close to a half million people who had been forced to flee their homes. Barring last minute delays, an air, road and sea operation will […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 17 banks took part in its currency auction on Tuesday. A total of $242,710,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By Patrick Schmidt. The Baghdad local government has announced the opening of refugee camps in Al-Nahrawan for those who are fleeing the violence of the Islamic State (IS) in the north. The complex cost $4.3 million dollars and can house up to 1,000 families with facilities including schools, hospitals, shops, and recreational facilities. "The complex […]
By Patrick Schmidt. The United States government has approved a $500 million program that would assist and train Iraqi pilots. The funding is directed toward helping the Iraqi Air Force mobilize its American-made rotary wing aircraft, including the Bell 407, OH-58, and Huey II. The Iraqi government made the request for support at the end […]
