By John Lee. A spokesperson for the Kurdistan Region's Syndicate of Investors has told BasNews that unemployment has risen sharply over the last two years and is now estimated at 20-25 percent with 700,0000 people losing their jobs in the private sector. But the Head of Sulaymaniyah Directorate of Statics, Mahmoud Othman, rejected the claims, […]
By John Lee. Washington DC-based communications and political advisory firm Sanitas International has reported that it has been engaged to work in the United States on behalf of Peace Ambassadors for Iraq (PAFI), and its President, Sheikh Jamal al-Dhari. In a statement made pursuant to the US’s Foreign Agents Registration Act (FARA), Partner Christopher Harvin […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The Pentagon will be deploying "specialised" troops in Iraq to help fight the Islamic State of Iraq and Levant (ISIL) group, said US Defense Secretary Ashton Carter.Al Jazeera's Rosiland Jordan, reporting from the […]
By John Lee. Prime Minister Haider al-Abadi has sacked the Minister for Trade, Mlas Mohammed Al-Kasanzan [Abdulkarim Malas al-Kasnazani] (pictured), for failing to show up for work. A statement from the Prime Minister's office said al-Kasnazani was dismissed because of his "absence ... from his duties as Minister of Commerce [i.e. Trade] for more than […]
Gulf Keystone Petroleum (GKP) has confirmed that, further to the recent statement by the Kurdistan Regional Government regarding the November payment to the exporting international oil companies ("IOCs") in the region, a gross payment of US$15 million (US$12 million net to Gulf Keystone) has been received by the Company. This payment satisfies the Company's invoice […]
By John Lee. The Swedish Transport Agency (Transportstyrelsen) has reportedly banned all flights from Northern Iraq. According to a report from ch-aviation.com, Transportstyrelsen said the increased military activity across northern Iraq posed a threat to civilian flights thus warranting a ban. Iraqi Airways and Germania had connected Sulaymaniyah with Malmö and Stockholm Arlanda respectively, while […]
By John Lee. Yonhap news agency reports that South Korea has offered an additional $1 million in aid to Iraqi refugees. This brings South Korea's total so far this year to $6 million, which has been offered through various international organizations such as UNICEF, the World Food Programme (WFP), the World Health Organization (WHO), and […]
KRG President Masoud Barzani as part of his visit to the Persian Gulf region has met with His Majesty King Salman bin Abdulaziz al-Saud, the king of Saudi Arabia. King Salman and President Barzani discussed the current issues facing the region in particular and te entirety of the world in general in the hands 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 today. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack aircraft conducted two […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 24 banks and 16 remittance companies took part in its currency auction on Wednesday. A total of $170,760,000 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Iraq's oil exports rose to a record average of 3.37 million barrels per day in November, up from 2.7 million bpd the previous month, reports Reuters. Officials at the South Oil Company (SOC) said the jump in exports was facilitated by the large quantities of crude held in storage due to bad […]
By John Lee. UAE-based Dana Gas has announced that it has reached an “amicable and mutually beneficial settlement agreement” with RWE’s trading unit RWE Suppy & Trading GmbH (RWEST) to resolve a dispute over its operations in Iraqi Kurdistan. The detailed terms of the settlement agreement are to be treated in accordance with the confidentiality […]
