By John Lee. Shares in Afren plc have fallen more than 20 percent on Monday morning, after the company provided the following update in relation to its sixty percent working interest in the Barda Rash field in the Kurdistan region of Iraq: An updated Competent Person's Report (CPR) of Barda Rash, carried out as part […]
By John Lee. Iraq Duty Free has reported a 16 percent increase in sales in 2014, despite the security crisis that forced the operation’s closure between June and September. The company, which operates the duty free business at Baghdad International Airport, attributed the growth to "renovation of points of sales, increased retail space and modern […]
By John Lee. Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra Light and Kirkuk crude grades for February. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced are relative to the Argus Sour Crude Index […]
Bitterly cold winter weather in Iraq has compounded the dire situation facing more than one million children, as the country continues to suffer from widespread violence and displacement. Official estimates indicate that over 2.1 million people, over half of whom are children, are displaced across Iraq. The vast majority of the displaced have fled to […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 18 banks took part in its currency auction on Monday. A total of $150,695,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Kurdish Plan To Take Out International Loans: Financial Folly? The past year has done much damage to the economy of Iraqi Kurdistan. And late in 2014 the government of […]
By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Who are the Kharijites and what do they have to do with IS? Members of the Islamic State (IS) have often been described as modern-age Kharijites, in reference to the Muslims who rebelled against the […]
By John Lee. Tyre-maker Bridgestone has announced today that it has appointed Zantrak International s.a.l. as its first sole distributor in the Republic of Iraq. Under this agreement, Zantrak International will exclusively distribute Bridgestone brand tires and tubes in Iraq for trucks and buses, light trucks and passenger cars as well as for industrial, motorcycle […]
By Patrick Schmidt. Since the outbreak of violence in Iraq, due to the rise of the Islamic State, the American government has supplied massive amounts of military aid to the Iraqi government. A recent report from Bloomberg indicated that part of the aid given to the Iraqi government has been passed along to Shia militias. […]
By John Lee. A Texas court has ruled that the case of a disputed shipment of crude oil from Iraqi Kurdistan, which has been waiting off the Galveston coast for several months, falls within its jurisdiction. The court also rejected the Kurdistan Regional Government's claims of sovereign immunity, leaving the way open for Iraq's oil […]
By John Lee. A source at Iraq’s North Oil Company has said that technical problems have stopped the export of Kirkuk crude oil to Turkey via the Kurdistan pipeline. He told BasNews that the problem happened in Turkey, not in the Kurdistan Region. It remains unclear when the problem will be resolved. (Source: BasNews)
By Wassim Bassem for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Social media user Kamal Rahal expressed his wish for Iraqi nurses to “get married and have a happy life” on the "Iraq Nurse" Facebook page. Rahal did not make this wish out of the […]
