Japan's Marubeni-Itochu Steel has joined the Iraq Britain Business Council (IBBC). The company is a joint venture between Marubeni Corporation and Itochu Corporation, established in October 2010 when the two companies merged their respective steel divisions. Its Tubular Products Division, which operates under the name Marubeni-Itochu Tubulars, supplies tubular products for the energy sector; its […]
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Iraq and Syria on Tuesday, Combined Joint Task Force Operation Inherent Resolve officials reported on Monday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, bomber, […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 28 banks and 17 remittance companies took part in its currency auction on Monday. A total of $154,804,895 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
The Belarusian Universal Commodity Exchange (BUCE) recently held a meeting with a delegation from the Iraqi Businessmen Association (IBA). In the course of the talks, the representatives of Iraq’s production and trading companies learnt about BUCE main activities and principles as well as the advantages of leveraging the exchange mechanism to boost Belarus-Iraq bilateral trade. […]
Scotland-based casing and completion tool specialist Deep Casing Tools has continued its Middle East expansion with a successful deployment of its unique drillable turbine technology in Iraq. The company’s 7” Turbocaser Express™ high-speed reaming system was deployed recently for a client who had experienced previous liner running issues. The Turbocaser Express™ reamed through multiple problematic […]
By John Lee. The United States has filed a False Claims Act complaint against DynCorp International Inc. (DynCorp) alleging that it knowingly submitted inflated claims in connection with a State Department contract to train Iraqi police forces (CIVPOL contract). The United States filed the complaint in the U.S. District Court for the District of Columbia. […]
By John Lee. Russia's Uralvagonzavod (UVZ) reportly stopped deliveries of armoured vehicles to Iraq due to delayed payments. TASS, citing UVZ`s 2015 annual report, stated: "In 2015, the UVZ Corporation stopped the shipping of the defense production to the No.356 customer (Iraq) due to delayed payments." (Source: Defense World)
By John Lee. The Islamic State group (IS, ISIS, ISIL, Daesh) has ordered internet service providers (ISPs) to block access to the internet for residents of Mosul. But according to local sources, the ISPs still have to provide services to specific IS headquarters across the city, so online activities can be easier monitored by the […]
Humanitarian Partners Warn that Time is Running Out: $284 Million is Urgently Needed to Prepare for the Mosul Humanitarian Operation Humanitarian partners in Iraq are warning that urgent steps need to be taken to prepare for Mosul. Partners are appealing for USD 284 million to start preparing for the operation, which could impact as many […]
By Muhannad Al-Ghazi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqi forces are advancing toward the city of Mosul from the four corners of the country. Kurdish peshmerga are moving from the north and east, while government-controlled forces are heading toward the city from the […]
By John Lee. The UK's Serious Fraud Office (SFO) has announced that it is conducting a criminal investigation into Unaoil, the Monaco-based company that has been implicated in an international corruption scandal. A statement from the SFO called for information relating to the allegations: "The SFO is conducting a criminal investigation into the activities of […]
By John Lee. Iraqi Prime Minister Haider al-Abadi has accepted the resignations of the ministers of oil, transport, housing and construction, water resources and industry, as well as interior, which had been previously announced. Abadi has previously called for the cabinet to include technocrats, a call later taken up by Shia cleric Moqtada al-Sadr, but […]
