By John Lee. Four industry sources have told Reuters that Swiss oil trader Trafigura is still indirectly supplying gasoline to Iraq through another firm, despite being banned from participating in tenders for 2013 after buying oil from Iraqi Kurdistan. Baghdad's State Oil Marketing Organization (SOMO) finalised a deal in November to buy 1.56 million tonnes […]
By John Lee. An Iraqi lawsuit accusing more than 90 companies of conspiring with Saddam Hussein's regime to frustrate the United Nations' program, and depriving Iraqis of roughly $10 billion of essential aid, has been dismissed by a court in New York. Reuters reports that U.S. District Judge Sidney Stein said the government of Iraq […]
By John Lee. Swiss company Cotecna has been officially appointed by the Iraqi Central Organization for Standardization and Quality Control (COSQC), to handle the implementation of a verification of conformity program for goods imported into Iraq. Based on article 3 (clause 8) of Iraqi law n°54 of 1979, COSQC has been empowered by the Iraqi […]
By John Lee. The Missan Oil Company (MOC) has announced the completion of the exploratory oil well in the Deema-1 [Dima-1] formation. Oil Minister Abdul Kareem Luaibi [Elaibi] said that the Ad Daimah [Deima, Dima, Deema, Dimah] Field, which is located in Maysan governorate, was completed 100 percent successfully, and in a record time, without […]
Due to current events in Anbar province and throughout Iraq, Al-Anbar Investment Commission (AIC) announced today that it is postponing its third annual international conference which was scheduled for February 16, 2013 in the city of Erbil, Kurdistan, Iraq. The Commission's Board of Directors decided it would be best to postpone the conference. This decision […]
Since its launch in April 2008, the USAID-Tijara Provincial Economic Growth Program has used an integrated approach to economic development that combines financial incentives with educational opportunities to spur private sector development in Iraq. Tijara, which means trade in Arabic, is a multi-faceted USAID program that works in the areas of sustainable microfinance, bank lending […]
The U.S. Embassy in Baghdad hosted a panel discussion with Iraqi government and civil society leaders on January 31 in commemoration of World Wetlands Day. World Wetlands Day is celebrated around the world to promote public awareness of wetlands’ ecological, economical, and social value and benefits. The program featured remarks by Shaimaa Ubaid Karim of […]
By John Lee. Iraq has risen two places to rank 150th out of 179 countries in the World Press Freedom Index for 2013, but this followed a fall of 22 places last year. The security situation for journalists continues to be very worrying, with three killed in connection with their work in 2012 and seven […]
By John Lee. Iraq participated in the International Donors Conference to support the humanitarian situation in Syria, which was held in Kuwait City, with a delegation headed by Muhammed Jawad al Dourki, Undersecretary of the Foreign Affairs Ministry, and Undersecretary of the Displacement and Migration Ministry. According to a statement from the Ministry of Foreign […]
By Karin Laub, The Associated Press. Used with permission by Iraq Business News. An Iraqi telecom company raised nearly $1.3 billion Sunday on Baghdad's small stock exchange in one of the region's biggest share offers in years — a sign of investor confidence in the fledgling private sector despite violence that still plagues the country. […]
The U.S. Mission in Iraq, through the United States Agency for International Development’s (USAID) Financial Development Project, is working with the Iraqi banking industry to help banks improve best practices. The U.S. Mission invited seven banks from across Iraq for the January 21-28 launch of the first in a series of 20 training seminars in […]
By John Lee. The General Secretariat of Iraq's Council of Ministers has ruled out the replacement of the currency or cancellation of three zeros "at this stage", and it is seeking to raise the value of the dinar against the dollar. The Secretary General of the Council of Ministers said that the project to replace […]
