From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq's top Shia cleric Ali al Sistani has called on the government to curb the activities of armed groups. At least seven Sunni mosques were bombed in eastern Iraq earlier this week, allegedly […]
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 Sunday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Remotely piloted aircraft […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 22 banks and 21 remittance companies took part in its currency auction on Thursday. A total of $172,403,000 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. According to a report from Platts, South Korea's state-owned Korea Gas Corporation (KOGAS) plans to sell a 47 percent stake in its 100 percent-controlled Akkas gas field. The company is under pressure from the Korean government to reduce its debts. The project was originally awarded to a consortium of Kogas and KazMunaiGas […]
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. A Pipeline In The Pipeline: Can Exporting Natural Gas Save Iraqi Kurdistan? Beginning 2016 Iraqi Kurdistan will begin to build a new natural gas pipeline to Turkey. But analysts say […]
By John Lee. According to a report from the International Monetary Fund (IMF), the fall in oil prices is causing a sharp deterioration of Iraq's fiscal position. The analysis finds that the budget deficit increased from 6 percent of GDP in 2014 to 15 percent of GDP in 2015 and a projected 10 percent of […]
Kurdistan Regional Government (KRG) officials contiued their visit to Washington this week with meetings with Administration and defense officials, as well as senators and media organizations. The visit comes as falling oil prices, the responsibility of 1.8 million displaced people, and the ongoing war against ISIS have put tremendous financial strain on the KRG and […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. More than three million people have been forced from their homes by ISIL's onslaught in Iraq. Many live in deplorable conditions in camps where tents are collapsing under winter rains and some children […]
By John Lee. Prime Minister Dr. Haider Al-Abadi has inaugurated the new 500-MW Najibiyah gas power station in Basra province. The Prime Minister congratulated the citizens and the people of Basra on this important achievement which will increase the supply of electricity. Dr. Haider Al-Abadi said electric power is the lifeblood of the country and […]
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. No Vacancies: 7 Million Iraqi Govt Employees Fear For Their Jobs Locals employed by the government fear the financial crisis may see them lose their jobs. Nobody seems to be […]
By John Lee. According to a report from the International Monetary Fund (IMF), the fall in oil prices since mid-2014 is expected to shift the current account balance from a surplus of 1 percent of GDP in 2014 to a deficit of 7 percent of GDP in 2015 and 6 percent of GDP in 2016. […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. It's been two months since Kurdish fighters recaptured the town of Sinjar from the Islamic State of Iraq and the Levant (ISIL). But for the ethnic Yazidis driven out in 2014, the possibility […]
