By John Lee. The Central Bank of Iraq (CBI) has reported that 27 banks and 4 remittance companies took part in its currency auction on Thursday. A total of $156,610,848 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Shares in Gulf Keystone Petroleum (GKP) were trading up 12 percent on Thursday following the announcement of its results for the six months ended 30 June 2015. Operational highlights Security situation and HSE performance All operations in the Kurdistan Region of Iraq remain safe and secure with no significant HSE incidents during the period Shaikan […]
By John Lee. Iraq's Ministry of Electricity has invited investment in a new power station at al-Yusufiyah, in Baghdad. The contract for the 1200-1400 MW plant will be granted on a build, own and operate basis. Further details are available from the Ministry of Electricity: [email protected] (Source: National Investment Commission) (Electricity image via Shutterstock)
UN agencies launch call centre to provide displaced communities across Iraq with information on humanitarian assistance To call the IDP Information Centre, dial 6999 from an Iraqi mobile phone. A national hotline for Iraqi citizens affected by the ongoing humanitarian crisis has been launched to provide timely information on humanitarian services such as food distribution […]
Just a year after it opened, the RSK combined geotechnical–environmental laboratory outside Basra, Iraq, is aiming to expand its services and recruit more young scientists to augment its staff of nearly 20. The RSK Iraq laboratory, which has been operational since May 2014, is the first combined geoenvironmental laboratory in Iraq to achieve this International […]
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. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Airstrikes in Syria Remotely piloted aircraft conducted two […]
By John Lee. The Korea Gas Corporation (KOGAS), the state-run South Korean gas company, is to invest $4.9 billion (5.7 trillion Iraqi dinars) to develop the Zubair oilfield. In a stock exchange filing, the company said this investment is part of the total $19.4 billion capital expenditure required for the project, and added that it […]
By John Lee. Iraq has paid international oil companies (IOCs) $9 billion in remaining arrears for 2014, according to a report from Reuters. Oil Minister Adel Abdel Mahdi (pictured) said that the outstanding fees for 2015 will be paid in stages until the beginning of next year. (Source: Reuters)
By John Lee. A foreign-exchange crunch cause by the drop in oil prices could force a devaluation of the Iraqi dinar, according to a report from Bloomberg. Data compiled by Bloomberg show that dollar reserves fell by approximately 20 percent to $59 billion as of July 23, while in the first 25 days of August […]
By John Lee. The United Nations has condemned the execution by the Iraqi Kurdistan Regional Government of three people convicted of murder and kidnapping - the first use of the death penalty in the region in seven years. Rupert Colville (pictured), Spokesperson for the UN High Commissioner for Human Rights, said in a statement: "We […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Al Jazeera has spoken to one of the most powerful military leaders in Iraq - Hadi Al Ameri, from the Badr organisation. It is the strongest Shia militia fighting the Islamic State of […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 28 banks and 10 remittance companies took part in its currency auction on Wednesday. A total of $218,346,331 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
