By John Lee. An investment manager who correctly predicted that Dana Gas would miss payments on its Islamic bonds in 2012, has said the company's stocks and bonds are now core holdings for his company. Ghassan Chehayeb, who helps manage about $30 million of assets at Houston-based SanctaCapital Group, told Bloomberg that the $2 billion […]
Following a first-of-its-kind meeting hosted by Defense Secretary Ash Carter in Brussels on Thursday, the defense ministers of nations involved in the coalition to counter the Islamic State of Iraq and the Levant released a statement summarizing the meeting’s outcome. In addition to Carter, the defense ministers of Belgium, Bahrain, Canada, Denmark, Finland, France, Germany, […]
By Mustafa Saadoun for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Saudi ambassador's comments on Popular Mobilization Units stir ire of Iraqis The Saudi ambassador to Baghdad, Thamer Sabhan, who was appointed to this position by Saudi Arabia on June 2, 2015, has […]
By John Lee. Reuters reports that Russia is ready to sell Sukhoi Superjet civil airliners to Iraq. On a trade mission to Baghdad, accompanied by nearly 100 government and business officials, Deputy Prime Minister Dmitry Rogozin said Russia could provide Sukhoi Superjet airliners for Iraq's civil aviation, adding that Moscow would continue providing Iraq with […]
By John Lee. The Czech defense minister, Martin Stropnicky, says he is planning to send about 30 instructors and military technicians to Iraq to train pilots for Czech-made planes. The Czech Republic agreed to sell 15 Czech-made Aero Vodochody L-159 light combat planes to Iraq last year, but according to a report from Associated Press the deal […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq has completely retaken Ramadi from the Islamic State group, but now faces the enormous challenges of removing bombs, reestablishing basic services and rebuilding the shattered city, officials said Tuesday:
By John Lee. Genel Energy (GENL.L) will resume drilling at its Taq Taq oilfield in the coming weeks. Genel CFO Ben Monaghan told Reuters that the restart of drilling work will mark the first time in more than a year that Genel has drilled in the region. "It's a symbolic restart of our investments," he added. […]
By John Lee. Germany has agreed to lend 500 million-euros ($566 million) to Iraq to help rebuild the country's infrastructure. At a meeting with Iraqi Prime Minister Haider al-Abadi in Berlin, Chancellor Angela Merkel said Germany also wants to help with the demining of cities and towns in Iraq so that the country's 3 million internally […]
By John Lee. Iraq expects to load less Basra crude in March than in February, according to a report from Reuters. A preliminary loading programme for March shows exports of 3.38 million bpd from the southern terminals, down 6.9 percent from the 3.63 million bpd planned for February. February exports, if achieved, could exceed the […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraqi premier Haider al-Abadi urges Kurdistan to drop any plans for independence, criticising a proposed statehood referendum.
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 on Thursday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Fighter aircraft conducted […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 28 banks and 19 remittance companies took part in its currency auction on Thursday. A total of $130,183,718 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
