United Nations Human Settlements Programme (UN-Habitat) has received USD 15 million from the Government of Japan to implement two projects in Iraq: “Gender-sensitive Durable Shelter Support for Internally Displaced Persons in Iraq” and “Promoting Urban Recovery in Newly Liberated Areas in Iraq.” The conflict with the Islamic State of Iraq and the Levant (ISIL) has […]
By John Lee. The US government has said it will allow the Iraqi government to postpone the payment of $2.7 billion for arms purchases. On a visit to Baghdad, US Special Presidential Envoy Brett McGurk (pictured) met with Prime Minister Haider al-Abadi, Speaker of Parliament Saleem al-Jibouri, and the governors of Diyala, Salah ad-Din, Ninewa […]
Atlas Copco has appointed a new distributor, Merkez Al-Madina for Machinery and Equipment Trading Company. The company is part of the HMBS Group, which has been operating in Iraq for over 100 years and will now represent Atlas Copco’s Compressor Technique and Construction Technique business areas in Iraq. Equipment and aftermarket services covered by this […]
The Kurdistan Regional Government (KRG) today publishes the monthly crude oil export report for February 2016. The report details: All oil export volumes through the KRG-Ceyhan crude oil pipeline; all crude oil cargoes lifted from Ceyhan by the buyers; and the revenues received on account by the KRG during the month. The KRG exported 10,151,944 […]
Fitch Ratings has revised its outlook on Iraq's Long-term foreign currency Issuer Default Rating (IDR) to Negative from Stable and affirmed the IDR at 'B-'. The Country Ceiling has been affirmed at 'B-' and the Short-Term foreign currency IDR at 'B'. KEY RATING DRIVERS The revision of the Outlook reflects the following key rating drivers: […]
Khudairi Group, a leading provider of services to the energy, engineering and construction industries in Iraq, has been appointed by Shell as its macro-distributor for lubricants in the country. The new partnership was formalised at a signing ceremony attended by representatives from Khudairi Group and Shell in Dubai, UAE. Commenting on the partnership, Mr. Aziz […]
By John Lee. The Kurdistan Regional Government is cementing control over oil produced in the north of the country by agreeing to sell crude pumped in the contested province of Kirkuk, according to a report from Bloomberg Business. Kirkuk Governor Najmuddin Omar Karim (pictured) told Bloomberg that the agreement covers oil produced in Kirkuk, which Kurdish […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 3rd Mar 2016). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD900 (-3.6%) / $927 (-3.3%) (weekly change) (-17.5% and -19.1% YTD change, respectively). The number of week traded […]
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 Sunday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Fighter, attack, and […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. In eastern Iraq, Sunni civilians are fearing revenge attacks from Shia militias following a suicide bombing by the Islamic State of Iraq and the Levant group. The targets were senior members of a […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 29 banks and 18 remittance companies took part in its currency auction on Monday. A total of $93,871,486 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Genel Energy has announces its audited results for the year ended 31 December 2015, in which it declared its biggest-ever annual loss of $1.16 billion: Key figures 2015 revenue of $344 million, down 34% due to the fall in the oil price more than offsetting higher production volumes 2015 production of 84,900 bopd, an increase […]
