By Shelly Kittleson for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Restrictions on Iraq's displaced people worsen Shiite-Sunni divide Shiite Turkmen who fled Islamic State (IS, ISIS, ISIL) beheadings in northwestern cities have traveled several hundred kilometers to places of pilgrimage and […]
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. Flirting With The Law: Baghdad's Policewomen Experiment On The Roads In Baghdad, an experiment that sees women police officers directing traffic for the first time in years has become a […]
By John Lee. Iraq plans to export a record volume of crude oil from its Gulf ports in June, reports Reuters. The State Oil Marketing Organization (SOMO) has reportedly allocated over 3.1 million bpd of Basra crude to buyers in a preliminary June loading programme, up from the usual monthly total of between 2.6 million […]
By John Lee. Kuwait's Zain Group has reported a 26.7 percent fall in first-quarter profit on Tuesday, as its Iraq business suffered from political instability and intense competition. Zain Group CEO, Scott Gegenheimer (pictured) noted: “The quarter reflected mixed results in what were quite challenging conditions in several of our key markets, especially Iraq where […]
By John Lee. Shares in ShaMaran Petroleum were trading down 10 percent on the Vancouver stock exchange, following the announcement of its financial and operating results for the three months ended March 31, 2015: Production Facilities Implementation of the 30,000 bopd Atrush Phase 1 Production Facility is in progress. Construction has continued on foundations for […]
By John Lee. A report from the Financial Times claims that an Iraqi company has helped to Iran acquire nine large commercial aircraft, in defiance of international sanctions. According to the report, Iran's Mahan Air, which is blacklisted by the US and Europe because of alleged links to Iran’s revolutionary guard -- allegations denied by […]
Hermes Datacomms, a leading global provider of managed networks for the upstream oil and gas industry, part of the SpeedCast Group, today announced the opening of its newest office in Erbil, Iraq. The new facility is in direct response to increasing demand for services from the oil and gas sector in Iraq and will enable […]
Iraq’s new Displacement Tracking Matrix (DTM) published this week recorded 2,834,676 internally displaced Iraqis from January 2014 through 25 April2015. The majority of the new displacement identified in the two-week period was caused by conflict in the Ramadi area of Anbar governorate. Following the outbreak of the Ramadi crisis, which occurred around 10 April, DTM […]
By John Lee. The former president, chief executive officer, and chairman of the board of a New Jersey-based international engineering consulting company has been sentenced to 12 months of home confinement and fined $4.5 million for conspiring to defraud the U.S. Agency for International Development (USAID) with respect to billions of dollars in contracts over […]
Iraq Business News (IBN) recently interviewed Colin Findlay, General Manager of Severn Valve Solutions and Executive Director of the Severn Glocon Group of companies, about doing business in Iraq. IBN: Can you tell us a little about your business in Iraq? Colin Findlay: Severn Valve Solutions was formed in 2012 and has quickly become the […]
By Imtiaz Ahmad. Over the last seven to eight years, Iraq remained very attractive for international investment especially in the oil and gas sector. Almost all major international oil companies (IOCs) invested, either individually or in partnership with others. By contrast, Iraq showed slow progress in setting out proper petroleum and tax policy for existing […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 7th May 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,168 / $1,161 (+3.8%) (weekly change) ) (-16.2% and -21.6% YTD change, respectively). The number of week traded […]
