By John Lee. Iraqi Deputy Trade Minister Walid Habib al-Helou has reportedly announced that Tehran and Baghdad will sign a new memorandum of understanding (MoU) in the near future. The Deputy Minister called for increased trade between Iran and Iraq, adding that the MoU will remove obstacles to trade. (Source: IRNA)
By John Lee. DynCorp International has been awarded a $35,779,427 sales contract for contractor technical support services for multiplatform vehicles in Iraq. Work will be performed in Iraq with an estimated completion date of June 5, 2017. (Source: US Dept of Defense)
By John Lee. Iraq's oil exports are expected to decline in June for the second month in a row. According to loading data tracked by Reuters and an industry source, Iraq's southern exports in the first 29 days of June have averaged 3.14 million bpd, down 60,000 bpd from May. The head of the South […]
Operation Inherent Resolve continues to target ISIL illicit oil and natural gas activities in an operation called Tidal Wave II, a US military spokesman said on Wednesday. Col. Christopher Garver said targets include oil sites, equipment and vehicles for transporting oil and natural gas. Since September 2014, the coalition has conducted about 300 strikes against […]
By John Lee. The United States is to extend a $2.7-billion foreign military finance credit facility to Iraq. According to reports from Associated Press, the deal will allow Iraqi security forces to defer payment for the purchase of ammunition and maintenance of its F-16 aircraft and M1A1 Abrams tanks. The agreements grants Iraq a one-year […]
Britain will increase its training support to Iraqi forces taking the fight to Daesh, the Defence Secretary has announced today. Expanding the significant capacity building mission already underway, the UK will send around 50 additional trainers to the Al Asad Airbase in Western Iraq to provide instruction on countering improvised explosive devices (c-IED), infantry skills […]
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 Wednesday. 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 30 banks and 17 remittance companies took part in its currency auction on Wednesday. A total of $151,374,269 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. The father of a notorious ISIS terrorist is facing charges in Australia for allegedly conspiring to bribe officials at a company linked to the Iraqi government in the hope of winning lucrative building contracts. Mamdouh Elomar, aged 62, his brother Ibrahim Elomar (60) and businessman John Jousif (46) were charged following information […]
The Financial Times reports that Iran finds Iraq to be a big market for its domestically produced goods, including fresh milk, antibiotics and cement. Yahya Ale Eshaq, head of the Iran-Iraq Chamber of Commerce, told the newspaper: “Iraq needs everything, which makes it the best market for Iranian-made goods ... “We can work with European […]
By John Lee. US Secretary of State John Kerry has said Iran's presence in Iraq is "helpful" to American attempts to defeat the Islamic State group (IS, ISIL, ISIS, Daesh). He told the Aspen Ideas Festival: "... we have challenges with Iran as everybody knows and we are working on those challenges ... But I […]
By Shelly Kittleson for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Bloody power struggles continue in Iraq’s disputed territories The security situation in Tuz Khormato continues to deteriorate. On June 18, a car bomb exploded just outside the local headquarters of the largest […]
