Economic reforms and investment opportunities in the Kurdistan Region of Iraq were highlighted during a one-day conference in the United States. The conference, titled ‘Iraq’s Economy: Challenges and Opportunities’, was hosted by the Johns Hopkins University’s Center for Transatlantic Relations on Thursday, June 2. Dr. Noori Othman, acting chairman of the Kurdistan Board of Investment […]
Figures from Turkey’s ministry of trade and customs show that truck traffic between Turkey and Iraq fell from 685,000 in 2014 to 606,000 in 2015, with only 200,000 trucks from January to May this year, according to a report from Rudaw. Trade fell from more than $12 billion in 2013 to $8.5 billion in last […]
By Mohammed A. Salih for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Faced with what has been often described as the world’s most resourceful and sophisticated terror organization, Iraq’s news media outlets have stumbled in how to cover the Islamic State (IS). The country’s news media […]
By John Lee. AMTEC Corporation has heen awarded an $84,546,877 firm-fixed-price, foreign military sales contract (Iraq) for 40mm grenade systems. One bid was solicited with one received, according to a statement from the US Department of Defense. The work will be performed in Janesville, Wisconsin, with an estimated completion date of Sept. 30, 2018. AMTEC is […]
By John Lee. The Chief Executive of Russia's Lukoil has said he expects further investment in Iraq, now that the country "actively repaying" the international oil companies for their investment in the country. Vagit Alekperov (pictured) told Reuters: "Iraq is very actively repaying the operators. The situation has changed dramatically. "We know about the IMF […]
Italy Provides Additional Funding for Stabilization Activities in Liberated Areas The Italian Republic is contributing an additional US$4.91 million (€4.5 million) to UNDP’s Funding Facility for Immediate Stabilization (FFIS), which finances fast-track initiatives in areas liberated from the Islamic State of Iraq and the Levant (ISIL). This follows a contribution of $2.72 million (€2.5 million) […]
By John Lee. The United Nations has advertised several new positions in Iraqi Kurdistan: World Food Prorgamme - Assistant Storekeeper (UNDP) World Food Prorgamme - Driver (UNDP) Senior Advisor - Economic Development Policies & PPP (UNDP) Logistics Manager (UNICEF) Call Centre Operator (United Nations Office for Project Services, UNOPS) National Project Coordinator (United Nations Industrial Development Organization, […]
By John Lee. The United Nations has advertised several new positions in Iraq: Protection and Advocacy Manager (International Rescue Committee, IRC) Education Project Manager (Norwegian Refugee Council, NRC) ICLA Officer - Information & Counseling (Norwegian Refugee Council, NRC) ICLA Officer - Legal Assistance (Norwegian Refugee Council, NRC) Senior Public Financial Management Advisor (Chemonics International) Associate […]
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Iraq and Syria on Monday, Combined Joint Task Force Operation Inherent Resolve officials reported on Tuesday. 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 29 banks and 19 remittance companies took part in its currency auction on Wednesday. A total of $142,317,265 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Philippines-based International Container Terminal Services (ICTSI) is investing $130 million in Umm Qasr port, according to a report from Reuters. The Manila-based port management company signed a contract with General Company for Ports of Iraq involving the container facilities at Umm Qasr; it will operate, develop and expand the port. The three-stage […]
By John Lee. Russian oil company Lukoil has announced that, in the first quarter of 2016, the Group received 2.6 million tonnes of compensation crude from Iraq's state-owned South Oil Company as cost compensation within the West Qurna-2 project (in the first quarter of 2015, the Group received 2.3 million tonnes of compensation crude oil). […]
