At the end of a six-day visit to Iraq, the president of the International Committee of the Red Cross (ICRC) vowed to scale up assistance to displaced people and the communities hosting them. President Peter Maurer witnessed the difficult conditions endured by people as a result of ongoing fighting, long periods of displacement, loss of […]
Kurdistan Region Prime Minister, Nechirvan Barzani, has welcomed Germany’s Defence Minister, Ursula von der Leyen and her accompanying delegation in Erbil, which included a number of military and political officials, a number of members of the German Bundestag, German Ambassador to Iraq and the German Consul General to the Kurdistan Region. The German Defence Minister […]
Sweden’s Minister for Foreign Affairs, Margot Wallstrom, received Minister Falah Mustafa, Head of the KRG Foreign Relations, on Monday to discuss bilateral ties and latest humanitarian and security developments in Kurdistan and the wider region. In welcoming Minister Mustafa and his accompanying delegation, Foreign Minister Wallstrom said, “We enjoy excellent relations with the Kurdistan Region […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 9 banks took part in its currency auction on Tuesday. A total of $108,383,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Shares in Afren plc have fallen more than 20 percent on Monday morning, after the company provided the following update in relation to its sixty percent working interest in the Barda Rash field in the Kurdistan region of Iraq: An updated Competent Person's Report (CPR) of Barda Rash, carried out as part […]
By John Lee. Iraq Duty Free has reported a 16 percent increase in sales in 2014, despite the security crisis that forced the operation’s closure between June and September. The company, which operates the duty free business at Baghdad International Airport, attributed the growth to "renovation of points of sales, increased retail space and modern […]
By John Lee. Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra Light and Kirkuk crude grades for February. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced are relative to the Argus Sour Crude Index […]
Bitterly cold winter weather in Iraq has compounded the dire situation facing more than one million children, as the country continues to suffer from widespread violence and displacement. Official estimates indicate that over 2.1 million people, over half of whom are children, are displaced across Iraq. The vast majority of the displaced have fled to […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 18 banks took part in its currency auction on Monday. A total of $150,695,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
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 Kurdish Plan To Take Out International Loans: Financial Folly? The past year has done much damage to the economy of Iraqi Kurdistan. And late in 2014 the government of […]
By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Who are the Kharijites and what do they have to do with IS? Members of the Islamic State (IS) have often been described as modern-age Kharijites, in reference to the Muslims who rebelled against the […]
By John Lee. Tyre-maker Bridgestone has announced today that it has appointed Zantrak International s.a.l. as its first sole distributor in the Republic of Iraq. Under this agreement, Zantrak International will exclusively distribute Bridgestone brand tires and tubes in Iraq for trucks and buses, light trucks and passenger cars as well as for industrial, motorcycle […]
