By John Lee. A report published on Thursday by the World Bank focuses on the implications of low oil prices for eight developing countries -- Egypt, Tunisia, Lebanon, Jordan, Iran, Iraq, Yemen and Libya -- and the economies of the GCC (Gulf Cooperation Council). The Plunging Oil Prices report questions the practice of pegging the […]
By John Lee. Lockheed Martin Aeronautics has been awarded a $9,500,000 fixed price, indefinite-delivery/indefinite quantity contract for F-16 aircrew training to Iraq Air Force personnel. The work will be performed at Tucson, Arizona, and is expected to be complete by Jan. 27, 2017. (Source: US Defense Dept) (Picture: First flight of F-16 Fighting Falcon for […]
By John Lee. The Belarusian company Minsk Tractor Works (MTZ) has said it is ready to supply both assembled tractors and assembly kits to Iraq, and it is now looking for partners in the country. A spokesperson for the company told the BelTA news agency that an Iraqi delegation led by President of the Federation […]
By Adnan Abu Zeed for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Lamia Hassan is a science teacher at a primary school in Babil. She explains natural phenomena in religious terms, such as “the science of God” and “the ability of the creator” when teaching topics […]
The humanitarian situation of Iraqis recently displaced to the southern governorates of Najaf, Kerbala and Babel is reaching critical levels, according to an assessment by the United Nations World Food Programme (WFP). WFP assists 50,000 displaced families in Basrah, Thi Qar, Qadissiya, Missan, Wassit, Muthanna, Najaf, Kerbala, and Babel. “Despite the dangers and challenges posed […]
The Canadian Ambassador to Iraq, Mr Bruno Saccomani and his accompanying delegation today visited the KRG Department of Foreign Relation to brief Minister Falah Mustafa on Canada’s military, humanitarian, and developmental support and to discuss the future of bilateral relations between Canada and Kurdistan. Ambassador Saccomani said, “The government of Canada has been very supportive […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 20 banks took part in its currency auction on Thursday. A total of $98,234,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Shell has reportedly signed a deal with Iraq worth $11 billion (12.8 trillion Iraqi dinars) to build a petrochemicals plant in Basra. On Wednesday, Industry Minister Nasser al-Esawi [Nasser al-Issawi] told a press conference that the Nibras complex would make Iraq the largest petrochemical producer in the Middle East. The news comes […]
By John Lee. The tanker of oil from Iraqi Kurdistan, which had been waiting off the US coast for six months due to legal proceedings, is reported to have finally set sail on Tuesday. According to a report from BasNews, the United Kalavyrta [United Kalavrta] (pictured) is now headed for the Straits of Gibraltar, following […]
By John Lee. Iraqi Transport Minister Baqr Jabr Al-Zubeidi (pictured) has said that Iraq is considering seeking foreign investors to fund the multi-billion-dollar Grand Faw [Grand Fao] port project. Emirates 24/7 quotes the Minister as saying that the transport ministry is unable to execute the $6-billion (7-trillion-Iraqi-dinar) project, and is considering awarding the project "on […]
By Fazel Hawramy for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. For Ibtisam, a 15-year-old Yazidi girl, the six months after the Islamic State (IS) attacked her hometown could not have been crueler. Her mother and three younger sisters were taken from the village of Tel […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 10 banks took part in its currency auction on Wednesday. A total of $40,151,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
