By John Lee. Research has found that the Tigris-Euphrates Basin -- comprising Turkey, Syria, Iraq and western Iran -- is losing water faster than any other place on the planet except northern India. According to the UN Development Progamme (UNDP), while scientists have been able to record falling water levels, political analysts have simultaneously observed […]
By John Lee. Citizens of Iraq are now eligible to apply for citizenship of Antigua & Barbuda, under the country's Citizenship by Investment Programme (CIP). Iraq's Newly appointed Ambassador to Antiqua & Barbuda, Ahmed Abbas Oleiwi Al-Hassani, thanked the government for, “opening the doors for Iraqis ... to Antigua”. On Friday, he signed a multi-million US-dollar […]
By Amberin Zaman, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Massoud Barzani vows to fight corruption with same dedication as KRG has fought IS These are critical times in the quasi-independent Kurdish entity in Iraq better known as the Iraqi Kurdistan Region, or […]
By John Lee. South Korea has offered US$7 million to help resolve the humanitarian crisis in Iraq. A statement on Thursday from Seoul's Foreign Ministry said: "Our government decided to provide assistance following a comprehensive review of the humanitarian crisis in Iraq, the international community's call for aid and other countries' provision of aid." South […]
By John Lee. Kurdistan's Qaiwan Group has secured two loans totalling $105 million to refinance part of the firm's investment in the 442-MW Bazian Power Plant (pictured). According to a report from Trade Arabia, Deutsche Bank has arranged an eight-year $75-million buyer credit, along with the Dubai branch of Lebanon's Bankmed. The finance is being […]
By John Lee. The Chairman and former CEO of Genel Energy is reportedly planning to set up an investment fund to buy distressed oil and gas assets. The Sunday Times reports that Tony Hayward (pictured) has held talks in recent weeks with potential backers including private equity firms and sovereign wealth funds in the Middle East. […]
The Governor of Anbar, Mr. Sohaib al-Rawi, and the United Nations Development Programme (UNDP) Resident Representative and UN Resident and Humanitarian Coordinator for Iraq, Ms. Lise Grande, visited Ramadi today to assess conditions and provide urgently needed support to families returning to their homes. The delegation met with security forces and representatives of the local […]
By John Lee. Iraqi forces have launched an operation to retake Mosul from so-called Islamic State group (IS, ISIS, ISIL, Daesh), which seized the city in June 2014. Iraqi military sources say the first part of the long-awaited offensive has recaptured several villages. The aim, according to a BBC report, is to retake Mosul within […]
By John Lee. Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] met with Mr. Kamal Kharrazi, the Head of the Foreign Relations Strategic Council in the office Mr. Ali Khamenei, the Supreme Leader of the Iran. At the meeting on Tuesday they discussed development of relations in the energy sector. (Source: Iraqi Ministry of […]
U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, 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 Ground-attack, attack, fighter, […]
The foundation for the Islamic Reporting Initiative (IRI) has appointed two new members to its Board of Directors; senior academic Dr Abdel-Aziz Sharabati and the award-winning entrepreneur Ms Amal Daraghmeh-Masri (pictured). Established in December 2015, the foundation has been set up to provide funding for the IRI, which is headquartered in the United Arab Emirates. […]
By John Lee. Genel Energy has decided to repurchase a nominal amount of USD 55.4 million of Bonds in connection with the Buy-Back Offer announced last week. The company will pay 63 percent of par value plus accrued unpaid interest. Settlement of the repurchases will occur on 30th March 2016. Shares in the company closed […]
