By John Lee. Norwegian oil and gas operator DNO reported record oil and gas output in 2014, but the results were impacted by one-off impairment charges in the fourth quarter driven in part by the drop in global oil prices. Gross output was up 66 percent last year to 117,482 barrels of oil equivalent per […]
By John Lee. The UN Security Council has reportedly approved the appointment of Nikolay Mladenov as the United Nations' top Middle East envoy, replacing Dutch diplomat Robert Serry. Mladenov, aged 42, has been the UN envoy in Iraq since August 2013, and has previously served as Bulgarian foreign and defense minister. No replacement for Mladenov […]
By John Lee. Iraq is to permanently lift a decade-old curfew on Baghdad. Brigadier General Saad Maan, the spokesman for the Baghdad Operation Brigade, told the AFP news agency that Prime Minister al-Abadi ordered that the curfew be completely lifted from this Saturday. According to a report from Al Jazeera, the hours it has been […]
The head of the United Nations Educational, Scientific and Cultural Organization (UNESCO) voiced alarm today over the reported destruction of thousands of books in museums, libraries and universities across Mosul – the northern Iraq city currently controlled by the Islamic State of Iraq and the Levant (ISIL). According to the UN agency, the books – […]
By John Lee. Kuwait will host the 23rd soccer Gulf Cup in early 2016, after Iraq declined to host the tournament due to a deficit in the State budget. According to Arab News, Iraq will instead bid to host the 24th edition of the Cup. Iraq had been due to host the event in Basra. […]
By John Lee. A move in cabinet to reform Iraq's controversial debaathification law has been opposed by Sunni ministers. Current laws prevent former Baath Party members from participating in Iraq’s government and public service. The Sunni ministers said the reforms do not go far enough, while the rest of the cabinet approved them. The reforms […]
By John Lee. The Islamic State (IS, ISIS, ISIL) is reported to be exports 100 tankers of crude oil every day from the Hamrin oil fields in southern Kirkuk. The US has previously warned that IS is using oil as a major source of funds. An Iraqi army officer, who declined to be identified, told […]
By John Lee. Iraq has bought about 80,000 tonnes of rice from Thailand. Reuters reports that the deal was agreed at a price of of $443.90 per tonne, including cost, insurance and freight free out (CIFFO). (Source: Reuters) (Rice image via Shutterstock)
By John Lee. The Iraqi Cabinet approved a draft law on Tuesday to create a new National Guard. Reuters reports that Sunni political and tribal leaders have billed the move as a way to handle their own security in the fight against the Islamic State (IS, ISIS, ISIL). The National Guard would consist of locally […]
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. The militant activities of the Islamic State (IS) and its counterparts have contributed to the rise of moderate Islam in the Islamic world. The fact is that it is Muslims, of all sects, who have […]
Kurdistan Regional Government’s Prime Minister, Nechirvan Barzani, yesterday in Erbil received the Austrian Foreign Minister, Sebastian Kurz and his accompanying delegation, which included the Chairman of the Foreign Relations Committee of the European Parliament, the Austrian Ambassador to Iraq and a number of senior officials from the Austrian Foreign Ministry, as well as Iraq’s Ambassador […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 23 banks took part in its currency auction on Tuesday. A total of $69,611,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
