By John Lee. The Central Bank of Iraq (CBI) has reported that 26 banks and 8 remittance companies took part in its currency auction on Wednesday. A total of $289,496,419 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
The Basra Gas Company (BGC) has awarded UnaE&C Iraq, an engineering and construction subsidiary of Unaoil Group, a contract for the Rehabilitation of West Qurna Compressor Stations CS7 and CS8 at West Qurna, Iraq. BGC is a joint venture between state run South Gas Company (51%), Shell (44%) and Mitsubishi (5%). The project will enable […]
The Basra Industrial Community (BIC) has welcomed MEOSAT as a new resident company. Residents of BIC now have access to the fastest, most secure and most stable high-speed satelite internet in southern Iraq. MEOSAT is the only active authorized distributor of O3B in Iraq and has just completed testing. O3B provides high-speed internet via a system […]
Minister Falah Mustafa, Head of the KRG Foreign Relations received on Sunday the Kuwaiti Consul General and Vice Chairman of the Board of Directors of the Kuwait Red Crescent Society. The Consul General of Kuwait Dr Omar Ahmed al-Kandari stated that on the 11th of June 2015, the Emir and the Government of Kuwait agreed […]
By Ahmed Mousa Jiyad. Midyear Review of the State Budget and Oil Export Revenues The State budget for 2015 was based on an oil export volume of 3.3 million barrels per day (mbd) and a price of $56 a barrel. Accordingly, oil export revenues were estimated to finance 83% of budget revenues. Despite marked improvement […]
By John Lee. The agreement between the Kurdistan Regional Government (KRG) and the Iraqi central government agreement on budget and oil exports looks set to collapse. Kurdish MP Ardalan Nouraddin told BasNews that a new agreement will be signed, adding, “the details are yet to be revealed.” Under the December agreement, the KRG was to […]
By John Lee. Oil firms expecting to load Kirkuk crude at the Turkish port of Ceyhan have had to cancel tankers, as the Kurdistan Regional Government ramps up independent oil sales at the expense of sales through the State Oil Marketing Organization (SOMO). According to a report from Reuters, tanker cancellations included Eni’s Seanostrum, Socar’s […]
U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported. Officials reported details of the latest strikes, which took place between 8 a.m. Sunday and 8 a.m. Monday, local time, noting that assessments of results […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. A bomb fell from an Iraqi Sukhoi warplane and exploded in eastern Baghdad on Monday because of a "technical problem", killing at least eight people and wounding 17, officials said.
By Khales Joumah. 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. Interview with Yazidi MP in Baghdad: 'Yazidi Are Divided But We Still Want Our Own Region' Yazidi MP, Haj Kandour al-Sheikh, updates NIQASH on his people's security […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 21 banks and 7 remittance companies took part in its currency auction on Tuesday. A total of $225,115,111 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. On Sunday, Prime Minister Haider al-Abadi received the new Minister of Industry, Mohammed al-Darraji [Daraji, Derraji]. Al-Darraji takes over from Naseer al-Issawi, who submitted his resignation at the request of his political bloc, the Ahrar bloc of the Sadrist movement. He served as Minister for Housing and Reconstruction in the previous al-Maliki administration. […]
