From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Classes started a month behind schedule Wednesday in many areas of Iraq because some schools are crowded with families seeking refuge from violence elsewhere in the country.
By John Lee. The Central Bank of Iraq (CBI) has reported that 21 banks took part in its currency auction on Wednesday. A total of $267,318,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. The US State Department has approved a possible sale to Iraq for M1A1 Abrams tank ammunition and associated equipment, parts and logistical support for an estimated cost of $600 million (700 billion Iraqi dinars). The Defense Security Cooperation Agency delivered the required certification notifying Congress of this possible sale. The Government of […]
By John Lee. The Iraqi cabinet has approved a drilling deal with Halliburton value at $278.5 million (324 billion Iraqi dinars). Reuters reports that under the 30-month contract, Halliburton will drill 30 oil wells in the 8.7-billion-barrel West Qurna-I field, operated by U.S. major ExxonMobil. Production at the field is currently running at around 360,000 bpd […]
By John Lee. Warwick International Hotels Group (WIH) has opened its portfolio new 300-room Babylon Warwick Hotel in Baghdad. The company has entered into a contract with Al Ebaa Company to manage the propertly, located on the edge of the Tigris River opposite of the USA Embassy. According to an announcement from the Groip, the hotel […]
From January through 5 October, 2014 the International Organization for Migration (IOM)’s Displacement Tracking Matrix (DTM) identified an estimated 1,814,862 displaced people (302,477 families) in Iraq. This figure represents an increase of more than 61,000 displaced people since late September. Ninewa and Anbar remain the governorates of origin for the largest displaced populations, reported as […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 17 banks took part in its currency auction on Tuesday. A total of $247,265,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. The Iraqi State Oil Marketing Organization (SOMO) has proposed splitting its Basra Light crude supply into two grades. Reuters cites trade sources as saying that SOMO and has requested feedback on the proposal by the end of the week from buyers in Asia. Iraq now plans to offer two grades of crude for […]
By John Lee. Hanwha E&C has announced that the company received the fourth deposit of US$387.5 million (452 billion Iraqi dinars) for the construction of the Bismayah New City (pictured) outside Baghdad. This sum brings Hanwha receipts from the project to $1.9375 billion, 25 percent of the total construction cost. The $8-billion project is the […]
By John Lee. Iraq's new Minister of Electricity, Qasim Mohammad Abid Hammadi al-Fahadawi [Qassim al-Fahdawi] (pictured), is to travel to Iran on Tuesday to hold talks on electricity imports. At a meeting with his Iranian counterpart, Hamid Chitchian, the Minister will also discuss the expansion of economic ties between Tehran and Baghdad. In 2013, the […]
Iraqi and British politicians will be joining senior business leaders from both countries at the Iraq Britain Business Council’s (IBBC) eighth London conference in early November. Entitled “Iraq – Accentuating the Positive”, the event is being held at the spectacular Institution for Civil Engineers building, One Great George Street, on November 5th and 6th. In light […]
Prime Minister Nechirvan Barzani today received Ivan Šimonović, the United Nations Assistant Secretary-General for Human Rights, and his accompanying delegation. The delegation said that compared to their previous visit back in 2011, they noticed sound improvements made by the Kurdistan Region in the areas of diplomacy, foreign relations, infrastructure, a free press, freedom of speech, […]
