From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. More than three million people have been forced from their homes by ISIL's onslaught in Iraq. Many live in deplorable conditions in camps where tents are collapsing under winter rains and some children […]
By John Lee. Prime Minister Dr. Haider Al-Abadi has inaugurated the new 500-MW Najibiyah gas power station in Basra province. The Prime Minister congratulated the citizens and the people of Basra on this important achievement which will increase the supply of electricity. Dr. Haider Al-Abadi said electric power is the lifeblood of the country and […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. No Vacancies: 7 Million Iraqi Govt Employees Fear For Their Jobs Locals employed by the government fear the financial crisis may see them lose their jobs. Nobody seems to be […]
By John Lee. According to a report from the International Monetary Fund (IMF), the fall in oil prices since mid-2014 is expected to shift the current account balance from a surplus of 1 percent of GDP in 2014 to a deficit of 7 percent of GDP in 2015 and 6 percent of GDP in 2016. […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. It's been two months since Kurdish fighters recaptured the town of Sinjar from the Islamic State of Iraq and the Levant (ISIL). But for the ethnic Yazidis driven out in 2014, the possibility […]
Ooredoo is expanding its mobile financial services (MFS) following the launch of AsiaHawala exclusively with Asiacell, part of Ooredoo Group, in December 2015. AsiaHawala is the first-ever mobile money service provider to launch in Iraq, licenced by the Central Bank of Iraq. The service enables Asiacell customers to make a number of Mobile Money transactions […]
The National Investment Commission (NIC) has announced two new investment opportunities: Hotel, residences and offices in Basra Development at Aljawadain Holy Shrine
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Conflict Currency: Fear That New 50,000 Dinar Notes Will Hurt Low Income Iraqis Iraq's Central Bank has issued new 50,000 dinar notes. But it could have a particularly negative impact […]
The Managing Director of the International Monetary Fund (IMF) approved a Staff-Monitored Program (SMP) for Iraq covering the period of November 2015-December, 2016, on which the authorities and staff had reached ad-referendum agreement in November 2015 (see Press Release No. 15/509). Iraq is facing a double shock arising from ISIS attacks and the sharp drop […]
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 Thursday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Bomber and remotely […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 25 banks and 21 remittance companies took part in its currency auction on Thursday. A total of $201,219,926 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
The Czech Republic has contributed US$200,000 to UNDP’s Funding Facility for Immediate Stabilization (FFIS) which channels fast-track support to help rehabilitate civic infrastructure, kick-start local economies, boost government capacity and promote community reconciliation. UNDP Resident Representative and UN Resident and Humanitarian Coordinator for Iraq, Ms. Lise Grande said: “The generous contribution from the Czech Republic comes at a […]
