On July 29, 2015, the Executive Board of the International Monetary Fund (IMF) approved SDR 891.3 million (about US$1.24 billion or 75 percent of quota) for Iraq under the Rapid Financing Instrument (RFI). The purpose of this financial assistance is to help Iraq address present and urgent balance of payment and budget needs in 2015 […]
NATO Allies have just agreed on a defence capacity building package for Iraq. It will help strengthen the country’s security and defence sector by providing support in areas where NATO is best-placed to add value. This decision, taken today by the North Atlantic Council, underscores NATO’s commitment to deepening our partnership with Iraq. The programme […]
By John Lee. The Ministry of Electricity has reportedly signed a contract with the German company Siemens for the provision of that includes processing equipment, civil works and the rehabilitation of four 132 kV substations in Baghdad. Shafaaq News reports that the contract includes processing equipment and the execution of civil works for the four […]
By John Lee. Serbia and Iraq have signed an agreement on cooperation in telecommunications sector. The document was signed by Serbian Minister of Trade, Tourism and Telecommunications Rasim Ljajic and Iraqi Minister of Telecommunications Hassan Al Rashid, at the end of the Iraqi minister's three-day visit to Serbia. During his visit, the Minister visited Serbian […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Political Independence Doesn't Pay: Basra's Beleaguered Governor Under Fire As they have done with the pictures of his predecessors, the protestors in Iraq's southern Basra province were so angry they […]
By John Lee. Critical Solutions International (CSI), of Carrollton, Texas, has been awarded a $12,702,031 firm-fixed-price foreign military sales contract (Iraq) for Husky Mark III 2-Operator 2G vehicles with manuals and spare parts, with an estimated completion date of Dec. 20, 2015. One bid was solicited with one received. (Source: US Dept of Defense)
By John Lee. The General Manager of the Projects Department in the Kurdistan Region’s Ministry of Planning, Zagros Fattah, has said that economic growth in the Kurdistan Region of Iraq is expected to be less than 1 percent this year. This follows growth of 8 percent in 2013 and just under 5 percent in 2014. […]
UNESCO and Iraq today signed an agreement for the Conservation and Management of the World Heritage site of Samarra Archaeological City, which will start with the restauration of the Great Mosque and Al-Malwiyah Minaret. The site has been on UNESCO’s List of World Heritage in Danger since 2007. The agreement was signed at UNESCO’s Headquarters […]
By Patrick Schmidt. The Islamic State group (IS, ISIS, ISIL) has continued its recruitment efforts in its territory even after almost 15,000 fighters were killed in coalition led airstrikes. The international coalition began its air campaign on August 8, 2014 and has conducted over 5,500 strikes on IS targets. The United States does not maintain […]
The Resident and Humanitarian Coordinator for Iraq welcomes the humanitarian contribution from Japan The Resident and Humanitarian Coordinator for Iraq, Ms. Lise Grande today welcomed a contribution of US$10 million from the Government of Japan for life-saving and stabilisation activities in Iraq. “We are so grateful for this contribution. Just yesterday, we announced that humanitarian […]
By John Lee. Gulf Keystone Petroleum (GKP), the operator of the Shaikan field in the Kurdistan Region of Iraq, has announced that all production and truck loading operations currently continue without interruption at both Shaikan production facilities (PF-1 and PF-2) in a safe and secure manner. On 29 July 2015, production totalled 43,700 barrels with […]
By John Lee. London-listed oil explorer Afren has been forced into administration. Crisis management consultants from AlixPartners were brought in after the company failed to find financial backers to meet a growing cash crisis. In a statement to the markets, the company said: “The board believes that all the possible routes have now been explored […]
