By Joe Snell for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Scarred but still standing, Mosul museum reopens at last Ninevah's renowned cultural heritage museum, known for the Islamic State's disastrous attack on its treasures, has finally reopened to the […]
By John Lee. Jordan has found new reserves of natural gas at its Risha field, close to its border with Iraq. Hala Zawati, the Jordanian Energy Minister, said: "... drilling operations at Well 53 in the Risha field have shown promising results, while exploration and drilling operations continue at wells 50, 51 and 52." (Source: […]
By John Lee. Finland's Nokia has announced that Asiacell Telecom has chosen the company to provide nationwide network optimization for two years starting January 2021. According to a press release: "This partnership will leverage Nokia's global capabilities in network planning and optimization technology to boost Asiacell's competitive edge and transform its operational platforms for the […]
By John Lee. Moody's Investors Service has said that Iraq's credit profile (issuer rating Caa1) "is supported by the country's 'ba2' economic strength ... its 'caa3' institutions and governance strength ... its 'ba3' fiscal strength ... and its 'caa' susceptibility to event risk". The company made the announcement on Monday following its periodic review of […]
By John Lee. Dinar value falls as Iraq contemplates currency devaluation MPs say Iraq's 2021 budget is likely to bring a significant drop in the value of the dinar, helping the government's balance sheet but hurting the purchasing power of most Iraqis. More details here from Iraq Oil Report (subscription required) (Source: Iraq Oil Report) […]
By Amr Mostafa for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Egypt wins strong foothold in Iraq's reconstruction Millions of Egyptian workers may benefit from their government's involvement in Iraq's massive reconstruction process. Click here to read the full story.
By Omar al-Jaffal for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi government presses ahead with early elections next year The Iraqi government is striving to make the legal and political preparations for elections in June 2021, amid multiple political […]
By John Lee. Genel Energy has received notice from the Kurdistan Regional Government ('KRG') that override payments, whereby Genel receives 4.5% of monthly Tawke gross field revenues, will resume with the January 2021 invoice, to be paid in February 2021. Assuming the prevailing oil price, this translates into over $5 million of additional cash proceeds […]
By John Lee. Iraq is reportedly poised to sign a multibillion-dollar contract with China's ZhenHua Oil, in what Bloomberg describes as a bailout from Beijing. Under the deal, Iraq's cash-strapped government which will receive money upfront in exchange for long-term oil supplies. Click here to read the full article. (Source: Bloomberg)
By John Lee. The Iraqi Cabinet held its weekly meeting on Tuesday under the chairmanship of Prime Minister Mustafa Al-Kadhimi. Following discussions, the Cabinet agreed to authorise the Ministry of Higher Education and Scientific Research to grant licences to new private colleges in Baghdad, Anbar, Basra and Al-Muthanna provinces. (Source: Govt of Iraq)
Iraqi Airways has announced that it is resuming its regular service between London Gatwick and the Iraqi airports of Baghdad, Erbil and Sulaymaniyah. The first flights will operate on 19th December from Baghdad and Erbil. More details here.
By Salam Zidane for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi government considers sales tax to relieve budget crisis Iraq is mulling the possibility of imposing a sales tax amid concerns over the consequences of such a move on […]
