By John Lee. Kuwait Energy has announced that it intends to proceed with an initial public offering (IPO), and to list on the main market of the London Stock Exchange (LSE). In a statement to the markets this morning, the company said it expected to raise gross primary proceeds of approximately $150 million from the […]
By John Lee. Officials at Baghdad International Airport have reportedly intercepted a shipment of dollars and euros worth a total of $500m (£389m). Writing in The Independent, Patrick Cockburn claims the cash was contained in 23 large bags unloaded from a Qatari plane, and was intended as a ransom for 24 Qataris, several of them […]
By John Lee. US-based Sallyport Global is alleged to have turned a blind eye to alcohol smuggling, theft, security violations, and allegations of sex trafficking at its site in Iraq. An Associated Press investigation claims that the company, that was paid $686 million to secure Iraq’s Balad Air Base, also fired the investigators who uncovered the alleged […]
By John Lee. Iraq has failed to improve its rating in the World Press Freedom Index for 2017, again ranking 158th out of 180 countries. The result puts Iraq behind countries such as Turkey and Kazakhstan, but ahead of Iran and Libya. First place went to Norway, with North Korea coming last. Reporters Without Borders […]
A total of 317 Iraqi civilians were killed and another 403 injured in acts of terrorism, violence and armed conflict in Iraq in April 2017*, according to casualty figures recorded by the United Nations Assistance Mission for Iraq (UNAMI). The number of civilians killed in April (not including police) was 309, while the number of […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 38 banks and 11 remittance companies took part in its currency auction on Wednesday. A total of $159,531,681 sold at a price of 1184 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Iraq's State Oil Marketing Organization (SOMO) and Russia's Litasco — Lukoil‘s international marketing and trading arm — have set up a joint oil trading company in Dubai. A source told Reuters that the new venture, LIMA Energy, is building a team to work at the Dubai Multi Commodities Centre (DMCC) to trade […]
By John Lee. Czech company Zetor is reported to be planning to set up a tractor assembly plant in Iraqi Kurdistan in 2020, using parts imported from the Czech Republic. According to Rudaw, the company will set up an entire new division on the KRI by 2030. A spokesperson for the KRG's Ministry of Agriculture […]
Vikas Handa is joining the Iraq Britain Business Council (IBBC) as the UAE Representative to run the IBBC office in Dubai and will be responsible for the overall outreach in the Middle East & North Africa (MENA) region. Many IBBC members will know Vikas, who previously headed Weir Oil & Gas operations in the Eastern […]
Al Murabit Security Services has opened its new office in Burjessia, Basra, demonstrating its commitment to deliver its full security service offering to customers in southern Iraq, as well as through its headquarters in Baghdad. Situated in the southern oilfields, the new office relocates the team closer to their customers and enables them to better […]
By John Lee. A new report from the British House of Lords' Select Committee on International Relations has recommended that the United Kingdom should not support Kurdish independence. Describing the Iraqi Kurds as "a valuable ally", the report -- The Middle East: Time for New Realism -- says that while the UK should support the Kurdistan […]
U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria yesterday, conducting 15 strikes consisting of 38 engagements, Combined Joint Task Force Operation Inherent Resolve officials reported today. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in Syria In Syria, coalition […]
