By Mark DeWeaver. Given the importance of oil for Iraq’s economy, you might think that the price of this commodity would be a key driver for Iraqi stocks. Strangely, this has not always been the case—most notably during the global financial crisis. From July to December, 2008, even as the oil price fell by a […]
By John Lee. Reuters reports that Zain Iraq will list on the Baghdad Stock Exchange (ISX) on 23rd June. Under the terms of its 15-year licence awarded in 2007, the company, along with Iraq's two other mobile phone firms, was required to float at least a quarter of its shares on the ISX by August […]
By John Lee. A US man has pleaded guilty in a $175,000 fraud involving fake business opportunities in Iraq. Joseph T. Morris, aged 52, pleaded guilty on Tuesday to one count of wire fraud, and according to a report from Associated Press faces up to 20 years in prison. Morris and two others set up […]
At a meeting on Friday between Minister Falah Mustafa, Head of KRG Foreign Relations, and Børge Brende, Minister of Foreign Affairs of Norway, Minister Brende announced that Norway will soon open its representation office in the Kurdistan Region. During the meeting, which was attended by Iraq’s Ambassador to Norway Sundus Omer, Norwegian Ambassador to Jordan […]
The President of the International Bar Association (IBA), David W. Rivkin (pictured), has announced the launch of the eyeWitness to Atrocities mobile app, a new tool to document and report international atrocity crimes in a secure and verifiable way so that the information can be used as evidence in a court of law. Every day around […]
By John Lee. Iraq has reportedly surprised traders in Asia with a sharp increase in the price of its new Basrah Heavy crude grade. Despite the grade selling at a sharp discount in the spot market last month, the State Oil Marketing Organization (SOMO) raised the Official Selling Price (OSP) for Basrah Heavy by 85 […]
KRG Prime Minister Nechirvan Barzani received the Kuwait Consul-General to the Kurdistan Region, Dr. Omar Ahmad Al-Kandari, on Wednesday. Prime Minister Barzani welcomed the Kuwait Consul-General to his new position. They discussed the latest developments in the Kurdistan Region, particularly the war against terrorism and the economic and social impact of hosting nearly two million […]
By John Lee. The United States is considering opening a network of new bases in Iraq, to help in the war against the Islamic State (IS, ISIS, ISIL). General Martin E Dempsey (pictured), chairman of the Joint Chiefs of Staff, outlined the plan just a day after the White House announced that up to 450 […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq has so far exhumed the remains of 597 people believed to have been executed by jihadists in the so-called Speicher massacre, the human rights minister said:
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. Wednesday and 8 a.m. Thursday, local time, noting that assessments of results […]
Nina-iraq has been hacked. This is not a simple sabotage. In a hacking attempt similar to the one that saw data being stripped from the US government a few days ago the entire server of this leading, bilingual Iraqi magazine has been corrupted, bringing down many other sites also. Nina has been fending off constant […]
By John Lee. Reuters reports that Iraq has again reduced its oil production targets. Speaking at a conference in London, Falah Alamri, head of the State Oil Marketing Organization (SOMO), said Iraq now planned to produce 5.5-6.0 million bpd by 2020, down from the previously target of 8.4-9.0 million bpd. This would represent an increase […]
