By John Lee. The Central Bank of Iraq (CBI) has allocated $5.1 billion (6 trillion Iraqi dinars) in loans to banks in a bid to keep a handle on inflation. Ali Allaq, Central Bank general manager, told the Al-Hayat newspaper on Monday that the CBI is responsible for the stability of the market, adding that […]
By John Lee. BlackRock Frontiers Investment Trust has said that the fund's most significant detractors from performance were its Iraqi oil stocks. In its Half-yearly Report, the fund commented: "Although Kurdistan has started exporting oil through it's pipeline to Turkey, the International Oil Companies ("IOCs") are still not receiving payment for these exports which is […]
The Kurdistan Regional Government (KRG) says it has been struggling to provide adequate humanitarian assistance to an overwhelming number of Iraqi internally displaced persons, IDPs, and Syrian refugees. However, according to the KRG Ministry of Planning, the Kurdistan Region needs further assistance from United Nation agencies and the international community in order to be able […]
By John Lee. SOS International (SOSi) of, Reston, Virginia, has been awarded a $36-million (42-billion-Iraqi-dinar) modification to contract W56KGZ-15-C-4000 for base life support at Camp Taji, Iraq. The estimated completion date is June 30, 2015. Funding will be determined with each order. Army Contracting Command Kuwait, is the contracting activity. (Source: US Dept of Defense) […]
By John Lee. Oil major BP has reportedly agreed with the Iraqi oil ministry to cut this year's expenditure on development work at Rumaila oilfield from $3.5 billion (4.1-billion-Iraqi-dinar) to $2.5 billion. According to The Economic Times, the cut in spending will have no impact on production from the oilfield this year, where output is […]
By John Lee. The head of Iran’s Department of the Environment, Masoumeh Ebtekar, and Iraq’s Minister of the Environment, Ibrahim Turki al-Juburi (Qutaiba al-Jibouri), have met to search for solutions to the environmental issues affecting the countries. According to the report from BasNews, the Ministers discussed the dust storms that blanket the region, particulate pollution, […]
By Shukur Khilkhal for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. In a society where conservative religious trends and the rule of tribal law are on the rise, the dissemination of human rights principles is a difficult task. Often, interpretations of religious and tribal customs contradict […]
Kurdistan Region Prime Minister, Nechirvan Barzani, has received Mr. Akihiko Tanaka, head of Japan International Cooperation Agency (JICA) and Japan’s Ambassador to Iraq. Mr. Tanaka expressed his appreciation for the assistance that Kurdistan Regional Government, KRG, provides to the agency during the implementation of their projects in the Region. He briefed the Prime Minister about […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 14th May 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,213 / $1,206 (+3.9%) (weekly change) ) (-12.9% and -18.6% YTD change, respectively). The number of week traded […]
By John Lee. Iran’s Defense Minister, Brigadier General Hossein Dehqan [Dehghan], arrived in Baghdad on Monday for talks with senior officials. The Minister and his delegation were welcomed by the Chief of Staff of the Iraqi Armed Forces, General Babak Zebari. Dehqan is scheduled to meet with the Iraqi Minister of Defense, Khalid al-Obeidi; Iraqi […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Fighters from the Islamic State of Iraq and the Levant (ISIL, ISIS) group have overrun one of the last remaining districts held by government forces in the Iraqi city of Ramadi, security officials […]
The Kurdistan Regional Government has appointed Mr Karwan Jamal Tahir as its new Representative to the United Kingdom. The Head of the Kurdistan Regional Government’s Department of Foreign Relations, Minister Falah Mustafa, said that under the recommendation of the President of the Kurdistan Region, Masoud Barzani, and in order to develop and further strengthen bilateral […]
