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 […]
By John Lee. Genel Energy has announced that it signed a definitive sale and purchase agreement with OMV to acquire its 36% operated stake in the Bina Bawi field. Completion of the acquisition is subject only to government approval, which is expected shortly. The consideration comprises an upfront payment of $5 million. A contingent payment […]
By Wassim Bassem for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq’s government, society struggle with widespread bribery With shocking innocence, Ali al-Sultani from Babil, a city 100 kilometers (62 miles) south of Baghdad, told Al-Monitor what he does to have official documents dealt with […]
KRG continues direct oil export despite sabotage attempt on pipeline In August, direct oil export from Kurdistan Region continued despite sabotage and attempted theft on the export pipeline inside Turkey borders, which occurred on 27 July and extended to the first week of August. According to the Kurdistan Regional Government, KRG, Ministry of Natural Resources […]
By John Lee. Iranian Economy Minister Ali Tayyebnia said that trade between Iran and Iraq is currently estimated at $12 billion when transit and tourism are taken into account, and that Tehran and Baghdad expect to increase the figure to $20 billion in the near future. The statement followed a meeting with Iraqi Finance Minister […]
As the security environment in Iraq remains complex and challenging, Security Sector Reform (SSR) is a prerequisite for both long-term stability and peace. The United Nations Development Programme (UNDP) has been engaged with the Office of the National Security Adviser (ONSA), through its Support to Security Sector Reform Phase I, to develop a National Security […]
