By John Lee. Prime Minister Dr. Haider Al-Abadi recently received in his office the director of the World Bank in the Middle East and North Africa, Mr. Farid Belhaj, and the Special Representative of the World Bank Mission in Iraq, Mr. Robert Bu Jodah. The meeting discussed the challenges of Iraq's economy caused by the […]
By John Lee. Critical Solutions International (CSI) has announced that the Iraqi Ministry of Defense has purchased the Husky 2G as its Improvised Explosive Device (IED) and mine clearing vehicle. According to a statement from the company, this procurement represents a critical enhancement to Iraq's route clearance mission and its ability to maintain freedom of […]
By John Lee. Iraqi Airways is to fly direct from Manchester Airport, it has been announced. Starting on Sunday, 15 March 2015, the airline will commence weekly flights to Sulaymaniyah at 22:00, with flights to Erbil departing on Wednesdays at 22:00. Both routes will be operated by a new Boeing 737-800 with capacity for 162 […]
By John Lee. The Deputy Managing Director of of Iranian vehicle maker Iran Khodro (IKCO) has said the company has chosen Iraq as a target market for its car exports, and opened a new showroom in Baghdad last week as a first step. Meqdad Mahmudi told Iran's IRNA news agency that both the Iraqi Oil […]
By John Lee. Iraq's Deputy Oil Minister, Fayadh Al-Nema [Fayyad Al-Nima], has opened three new oil storage tanks near Basra, to help cope with the export bottlenecks caused by bad weather and to accommodate rising production. The new facility will bring crude-storage capacity from 9.5 million to 10.5 million barrels. The minister told reports that another four to […]
By John Lee. A joint Iraqi-Kurdish military force of up to 25,000 fighters is being prepared to retake the city of Mosul from the Islamic State (IS, ISIS, ISIL). A senior US military official said the operation to recapture the northern city will probably take place in April or May, as the heat could cause […]
By John Lee. The Iraqi Grain Board (IGB) has delayed until Sunday a decision on whether to buy at least 50,000 tonnes of hard wheat in an international tender. Reuters quotes traders as saying that no purchase had yet been made, with Australian wheat offered at the lowest price of $279.70 a tonne c&f free […]
LUKOIL has finished its 2D seismic survey at Block 10 in southern Iraq. The seismic survey began in April 2014 and covered 2,000 linear kilometers. It was completed according to the highest standards six months ahead of schedule. The acquired seismic data will be processed and interpreted to identify promising sites for exploration drilling. The […]
Delivering his final briefing as the United Nations Special Representative of the Secretary-General for Iraq, Nickolay Mladenov today stressed to the Security Council the optimism he feels for the country’s future, while tempering those hopes with fear over the many things that can go wrong. “I am a paranoid optimist,” said Mr. Mladenov, noting the […]
Kurdistan Regional Government Prime Minister, Nechirvan Barzani, yesterday received the Japanese Ambassador to Iraq, Mr. Kazuya Nashida. The Japanese Ambassador thanked the Kurdistan Regional Government for its stance and support following the murder of the Japanese citizen in Syria at the hands of the Islamic State terrorist organization, known as ISIS. He conveyed his condolences […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Young American fighters are among the Western recruits who have returned to Iraq to fight the Islamist State jihadist group alongside Dwekh Nawsha, a Christian militia:
By John Lee. The Central Bank of Iraq (CBI) has reported that 24 banks took part in its currency auction on Thursday. A total of $85,993,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
