Despite media reports to the contrary, business is still being done in Iraq, and Iraq Business News is the place to learn about it. Some random examples from the past week include further progress and stage payments to Hanwha for the construction of the Bismaya New City housing development, a $278-million drilling contract for Halliburton […]
By John Lee. Innospec has announced the successful conclusion of a lawsuit brought against the company by Jalal Bezee Mejel Al-Gaood & Partner and Future Agencies Company Limited in connection with alleged loss of profits in Iraq. The matter had been filed in the High Court of Justice in the United Kingdom, and the judge […]
By Devin Morrow for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A small pile of stones in a field may look harmless to the casual observer, but they are a marker for a real danger in Iraqi Kurdistan. Land mines and other explosive remnants of war […]
By John Lee. Latvian lingerie manufacturer New Rosme has reportedly opened its first store in Iraq, located in the city of Najaf. A spokesperson for the company said: "Although Najaf is one of the most religious cities in Iraq, where publicly exposing a woman's beauty is forbidden more than in any other part of the […]
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 […]
