A retired major in the U.S. Army was sentenced today to 24 months in prison for engaging in money laundering of criminally derived property totaling $400,000, which he received from a contractor following his deployment to Kuwait, announced Assistant Attorney General Lanny A. Breuer of the Criminal Division. Charles Joseph Bowie Jr., 45, of Georgetown, […]
Iraq's second largest museum in Sulaimaniya is recovering stolen artifacts by paying smugglers to return the treasures, as CNN reports: (Source: CNN)
“The opportunities are unlimited”, Iraqi Prime Minister Nouri al-Maliki told the audience at the Chamber of Commerce in Washington on Tuesday. He was leading a high-level business delegation to the US as President Obama welcomed back some of the last of the American troops to pull out of Iraq. “Our goal is simply to make […]
Prime Minister Nouri al-Maliki has called on U.S. companies to help rebuild Iraq, according to Reuters. In a speech at the U.S. Chamber of Commerce, Maliki said: "As much as we committed to defeat terrorism, we are now committed to grow the private sector ... It is now not the generals, but corporations and business […]
Oil production at Iraq's Rumaila oilfield has been cut from about 1.4 million barrels per day to by around 700,000 bpd after yesterday's a bomb attack on southern crude pipelines, according to Reuters. The fire that resulted raged all night but was put out on Wednesday morning. Salah Mohammad, general manager of the Rumaila Operating […]
Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement after a meeting with H.E. Nouri Al-Maliki, Prime Minister of Iraq in Washington on Tuesday: It was a pleasure to meet Prime Minister Al-Maliki today. Over the past several years, Iraq and the International Monetary Fund have engaged in a […]
In Iraqi Kurdistan, locals are enjoying a property boom. As demand outstrips supply, buying off-the-plan is more popular. But if this housing bubble bursts, the region could face severe economic and political consequences, according to this article from Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of […]
According to various sources, either two or three bombs hit a crude oil pipeline in Iraq's southern oilfields leading to storage tanks around Basra. The impact on oil production or exports was not immediately clear, but the deputy head of the Basra provincial council, Ahmed al-Sulaiti, said firefighters were still battling the fire late on […]
Basra Investment Commission has announced a new investment opportunity for the establishment of power plant in the Hartha area. The new plant will have a capacity of 100 MegaWatts. Companies interested in this opportunity should contact Basra Investment Commission for more details: [email protected] (Source: Basra Investment Commmission)
Diyala Province is reportedly planning to build a civilian airport in the Mansuriya district, 30 km east of the provincial capital of Baquba. Mujawal al-Tayee, head of Diyala Council's Investment Board, said his board is engaged in negotiations with an un-named American company for the construction of the airport . AKnews reports that an executive from […]
Unemployment in Iraq has reached one million, according to a report from AKnews. Dara Hasan, Deputy Minister of Labor and Social Affairs, told the agency: "We are working on a plan to bring the level of unemployment down. There are 13 new laws ready to be issued which will protect and stabilized employees' rights in […]
Discussions reportedly took place with the Central Bank of Iraq regarding the dropping of the three zeroes from Iraqi currency. MP Aziz Shareef al-Mayahi, a member of Parliamentary Economic Commission, added that detailed discussions were held on Tuesday with economic experts. The commission will study the suggestions in order to reach a suitable response on […]
