Fitch Ratings issued its first rating on Iraqi sovereign debt, giving it the fifth-worst junk grade, due in part to the cost of the civil conflict and the global slump in oil prices. The rating comes as the country is planning a $5-billion bond issue towards the end of this year. The international ratings agency […]
One of Iraq's deputy prime ministers has stepped down, and is to be investigated for corruption, reports HuffPost. Baha al-Araji (pictured), deputy prime minister for energy affairs, resigned on Monday. On Tuesday, Prime Minister Haider al-Abadi's anti-corruption reform bill, which includes the elimination of the three Deputy Prime Minister positions, was passed by parliament. (Source: […]
By John Lee. Iraq has decided to lift a ban on the import of fresh and frozen chicken and chicken products from Iran. The ban was imposed three weeks ago following an outbreak of H5N1 avian flu in Iran. On 2nd August, the head of the Iran Veterinary Organization (IVO) declared the country free 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. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Airstrikes in Syria Bomber, fighter and remotely piloted […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 22 banks and 8 remittance companies took part in its currency auction on Tuesday. A total of $336,991,311 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
A severe funding shortfall in Iraq is pushing the United Nations World Food Programme (WFP) to cut the amount of aid it delivers to nearly one million displaced people in the war-torn country, the Organization has confirmed. “Unfortunately, lack of funds and the rise in the number of displaced Iraqis forces us to reduce the […]
By John Lee. The Iraqi cabinet has approved Prime minister Haider al-Abadi’s wide-ranging plan to slash spending and improve the government’s performance. The seven-point plan, which includes the abolition of the three vice-presidential posts and the three deputy prime minister posts, now goes before parliament for approval. According to the unedited statement from the Office of […]
The Kurdistan Regional Government (KRG) has published its monthly export report for July 2015. The KRG exported 16,019,090 barrels of crude oil (an average of 516,745 barrels per day (bpd)) in the month of July through the Kurdistan pipeline network to the port of Ceyhan in Turkey. Of this amount, fields operated by the KRG […]
By John Lee. DynCorp International, of Fort Worth, Texas, has been awarded a $45,470,349 cost-plus-fixed-fee foreign military sales contract with options for technical support for multiplatform vehicles. Work will be performed in Iraq with an estimated completion date of 4th September, 2018. According to the announcement from the US Dept of Defense, one bid was […]
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 Attack, fighter and remotely piloted […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 6th Aug 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,258 (-1.0%) / $1,317 (-0.2%) (weekly change) (-9.7% and -11.1% YTD change, respectively). The number of week traded […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. As temperatures soar across Iraq, public discontent is also close to boiling point. Iraqis are protesting against government corruption and power shortages. Al Jazeera's Mohammed Jamjoom reports from Baghdad - where security has […]
