By John Lee. The International Monetary Fund (IMF) may provide a large loan to Iraq to help stabilize the country's finances, a senior IMF official has told Reuters. Masood Ahmed (pictured), Director of the IMF's Middle East and Central Asia Department, said an IMF team will discuss with Iraqi officials early next month how to […]
Hertz Global Holdings has announced that Hertz Equipment Rental Corporation (HERC) has entered into a franchise agreement with the Khudairi Group for the exclusive license to provide rental equipment in Iraq using the "Hertz Equipment" brand and proprietary system. This move will significantly add to HERC's existing network in the Middle East, with HERC Iraq […]
KRG Minister for Foreign Relations, Falah Mustafa Bakir, this week discussed business and economic opportunities in the Kurdistan Region with senior members of the New Zealand Middle East Business Council. The Members of the Council included Vice Chairman of the Council, Michael Webb, Executive Committee Member, Deborah Schlichting, and Executive Advisor, Michelle Boag. Mr. Bakir […]
By John Lee. In his first news conference following the Liberal victory in federal elections, Canada's new prime minister designate Justin Trudeau (pictured) has confirmed that Canada will withdraw its fighter jets from Iraq and Syria. He did not set out a timeline for the withdrawal. Canada currently has six CF-18 fighter jets taking part […]
At the request of the family of Jacqueline Sutton, the Institute for War & Peace Reporting and the family release the following joint statement: Jacqueline (Jacky) Sutton, IWPR’s acting Iraq country director, was found dead at Istanbul’s Ataturk Airport overnight on October 17-18. She had flown from London to take an onward flight to her base […]
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 Wednesday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Airstrikes in Syria Attack and fighter […]
By John Lee. Iraq's Cabinet has approved a budget of 106 trillion Iraqi dinars ($91 billion) for 2016. The figures are based on crude oil output of 3.6 million barrels per day (BPD) at a price of $45 a barrel. Spokesman Saad al-Hadithi told The Associated Press that Iraq will run with a deficit of […]
By John Lee. An arrest warrant has been issued for the Iraqi Trade Minister, Malas Abdulkarim al-Kasnazani (pictured), and his brother, on charges of financial corruption. According to the report from AFP no details on the accusations have been issued, but local media said the Minister is suspected of awarding contracts without tenders to firms […]
By John Lee. Moody's Investors Service has today withdrawn its provisional rating of (P)Caa1 for Government of Iraq's planned USD bond issuance. The issuance rating has been withdrawn following statements made by Iraq's Deputy Finance Minister that the issuance plans have been put on hold. The last rating action was in September 2015 when Moody's […]
The UN refugee agency has opened its most recent camp for internally displaced persons in Iraq’s restive Anbar province – host to the largest number of 3.2 million Iraqis uprooted across the country and where more than 250,000 civilians have fled their homes over the past six months. The new “Marzaki camp is strategically located […]
Genel Energy issues the following trading and operations update. The information contained herein has not been audited and may be subject to further review. Murat Özgül (pictured), Chief Executive of Genel, said: "The third quarter of 2015 has been a turning point for Genel. September's payment for exports, coupled with local sales, has stabilised the […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Finance Committee of the Iraqi Parliament: The Need for More Accuracy and Better Transparency The Finance Committee of the Iraqi Parliament sent formal communication/ letter (number 738 dated 8 October 2015) […]
