By John Lee. Islamic State (IS, ISIS, ISIL) militants set fire to an abandoned oil field near Makhmour and Qaraj, east of Erbil, on Wednesday. Anofficial told BasNews that the oil field is located between Peshmerga and IS militants’ frontlines, about 2 kilometres away from Peshmerga forces. It is believed that the oil field was […]
The Kurdish airline Zagros Jet has been granted permission to fly domestically within Iraq. According to a report from Ruday, this adds Bagdad, Sulaimaniya, Basra and Najaf to its list of destinations. The new service will start April 20 when the airline will begin offering six flights each week from Erbil to Baghdad. Moafaq Sherwani, […]
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. The extremist Islamic State group has worked the Internet to it's advantage from the very start of its campaign in Iraq. Locals have lagged behind. But now, some say, they […]
By John Lee. Foreign Minister, Dr. Ibrahim Al Jaafari, received the Japanese Ambassador to Iraq, Kazuya Nashida, in Baghdad this week. Minister Jaafari referred to the role played by Japan in Iraq in the investment field and supporting the Iraqi government's efforts in countering terrorism, appreciating the humanitarian assistance provided by the Japanese government to […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Calm has returned to Tikrit two weeks after Iraqi security forces and allied paramilitaries retook the city from the Islamic State (IS, ISIS, ISIL) group.
By John Lee. Finance Minister Hoshyar Zebari (pictured) said on Wednesday that Iraq has decided to issue $5 billion in international bonds, as it attempts to finance a budget deficit of $25 billion for the current year. He told reporters in Washington that negotiations were in progress with Citibank and Deutsche Bank, but according to […]
By John Lee. On his official visit to the United States, Prime Minister Haider al-Abadi met a group of CEOs and chairmen of major US corporations in Washington on Tuesday. According to a statement from the PM's office, the business leaders shared their respective visions on assisting Iraq and on solutions to Iraq's economic and financial […]
By John Lee. During a visit to Basra, the Iranian Transport Minister, Abbas Akhwandi, has signed a Memorandum of Understanding (MoU) with the Governor of Basra, Majid al-Nasrawi, to lift sunken ships in the Shaat al-Arab waterway. According to a report from AIN, the two also laid the corner stone for a railway project linking […]
By John Lee. BasNews reports that Kurdistan's Ministry of Peshmerga and the Italian Consulate in Erbil are planning to cooperate on the construction of a hospital for wounded Peshmerga in Erbil. Peshmerga Minister Mustafa Said Qadir met with the Italian Consul Carmelo Ficarra and two Italian companies on Sunday to discuss the project, and a […]
By John Lee. A new privately-owned Iraqi airline carrier is expected to start international flights by July. Deputy Transport Minister Bangen Rekani told Bloomberg that FlyBaghdad, owned by Iraqi investors, will operate two Airbus Group NV A320 narrow-body planes and a Bombardier Inc. CRJ-200 regional jet. Start-up costs of are estimated at $25 million to $30 […]
By John Lee. The managing director of the National Iranian Gas Company (NIGC) has said it is possible for Iran to export natural gas to Kuwait through Iraq. Hamid Reza Araqi was quoted as saying that the pipeline which is being built to export gas to Iraq could be used for this purpose also. Iran […]
By John Lee. Iraq's Transport Minister has said that companies from the UAE, Iran, Turkey and China have offered to invest $7.4 billion dollars (8.6 trillion Iraqi dinars) for the development of the Grand Faw (Grand Fao) port project. Baqir Al Zubeidi told al-Forat news agency that the investment would cover the construction of quays […]
