By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Media outlets are broadcasting the departure of hundreds of thousands of Syrians and Iraqis from their countries toward Europe by boat, train or on foot. The scenes of escape and displacement coupled with panic […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 29 banks and 11 remittance companies took part in its currency auction on Tuesday. A total of $207,554,813 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Canadian-based ShaMaran Petroleum and TAQA, the Abu Dhabi National Energy Company, are in dispute regarding the Atrush block in Iraqi Kurdistan. In a statement to the markets on Monday, ShaMaran said that its wholly owned subsidiary, General Exploration Partners (GEP), has received a Default Notice from TAQA Atrush B.V., the Operator of the Atrush Block, […]
By John Lee. Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] met on Sunday with a delegation from the French oil company Total, lead by Mr. Pascal Carrier. The Minister confirmed that Iraq is keen to foster relations with companies such as Total, and aims to expand cooperation in the field of oil and energy […]
Moody's Investors Service has today assigned a provisional rating of (P)Caa1 to Government of Iraq's planned USD-bond issuance, with a stable outlook. The rating was initiated by Moody's Investors Service and was not requested by the rated entity. It is being assigned ahead of planned issuance of USD-denominated debt by the Iraqi government in the […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 17th Sept 2015). Please click here to download a table of listed companies and their associated ticker codes. Note: There will be no trading session at the ISX from September 23, 2015 to September 27, 2015 due to the national holiday, Eid Al-Adha. […]
Iraqi government-backed militias carried out widespread destruction of homes and shops around the city of Tikrit in March and April 2015 in violation of the laws of war, Human Rights Watch (HRW) said in a report released on Sunday. Militiamen deliberately destroyed several hundred civilian buildings with no apparent military reason after the withdrawal of […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq's government has ordered daily water tests and other measures to try and contain an outbreak cholera that has been blamed for the deaths of at least six people in a town west […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 29 banks and 11 remittance companies took part in its currency auction on Monday. A total of $205,544,963 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Canada's SNC-Lavalin has announced the award of a contract to Kentz, a member of the SNC-Lavalin Group, by ExxonMobil, for a new oil processing facility to increase production at its West Qurna 1 oil field in Iraq. Kentz, with its regional partner, is providing the front-end engineering design (FEED), detailed design engineering, procurement, fabrication, construction, […]
The Iraqi Ministry of Planning has opened a new Procurement Help Desk to streamline the tendering process. Speaking at the opening of the facility, US ambassador Stuart E Jones (pictured) made the following statement: "Thank you for those excellent remarks and thank you for your support to the USAID and embassy teams that have been […]
By John Lee. Bloomberg quotes Iraqi Central Bank Governor Ali Mohsen Ismail (pictured) as saying that Iraq has enough foreign reserves to maintain its currency peg, but didn’t rule out a minor devaluation to shore up government revenue hurt by the slump in oil prices and the war on Islamic State militants. He said reserves […]
