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Startups & Businesses Thrive In Iraq

By Olivia Bridge. Iraq's global perception might not be optimistic, but the country is proving itself as an incubator for startups and small businesses. Why startups and businesses are thriving in Iraq To the uninformed, the idea of Iraq being capable of nurturing online businesses, start-ups and entrepreneurs might seem far-fetched. Disinformation and rumours haven't […]

Market Review: The Economy Continues to Hum Along

By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. June's heat wave continued into July with temperatures this year continuing to exceed recent averages (chart below), which combined with the onset of summer holidays, led to […]

Iraqi Oil Exports for July Exceeded $6.5bn

By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for July of 90,467,794 barrels, giving an average for the month of 2,918 million barrels per day (bpd), slightly up from the 2.892 million bpd exported in June. The exports from the oilfields in central and southern Iraq amounted to approximately 87,455,359 barrels, […]

Asiacell Grows Customer Base in Iraq

By John Lee. Mobile phone service Asiacell has reported a sharp drop in revenue, when expressed in Qatari riyals, as a result of the devaluation of the Iraqi dinar. In its results for the half year ended 30 June 2021, parent company Ooredoo said: "Asiacell reported revenue of QAR 1.7 billion during the first half […]

Further $600m Paid to Kuwait for Invasion by Iraq

The United Nations Compensation Commission has made available $600 million to the Government of the State of Kuwait towards the Commission's remaining claim with an outstanding award balance. The United Nations Compensation Commission is a subsidiary organ of the United Nations Security Council. It was established in 1991 in accordance with Security Council resolutions 687 […]

Analyzing and Understanding Petroleum Fiscal Systems

By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. ORCID identifier is: https://orcid.org/0000-0002-0946-9898 Upstream petroleum (Oil, Gas and Condensates) sector occupies very critical position and, accordingly, has influential impacts on the national economies of Iraq, some Middle East and North America- […]

Iraq "still needs US help to defeat IS"

By Al Monitor staff. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq still needs US help to defeat Islamic State, foreign minister says Iraqi Foreign Minister Fuad Hussein made the remarks ahead of Prime Minister Mustafa al-Kadhimi's visit to Washington on Monday. […]

KRG Bureaucracy Delays DNO Investment

DNO ASA, the Norwegian oil and gas operator, has reported operating profit of USD 61 million in the quarter ending 30 June 2021, its second consecutive profitable quarter since the onset of the COVID pandemic. Revenues totaled USD 184 million, up USD 14 million from the previous quarter, as higher oil and gas prices more […]

Iraq and Lebanon sign Fuel Barter Deal

By John Lee. Iraq and Lebanon have finalised an agreement under which Iraq will provide the Lebanese Electricity Corporation with 1 million tonnes of heavy fuel oil over a one-year period. Lebanon's caretaker Energy Minister, Raymond Ghajar, signed the deal in Baghdad at the weekend. The oil will be paid for in goods and services. […]

World Bank President discusses Iraqi Projects

By John Lee. World Bank Group President David Malpass met with Iraqi Prime Minister Mustafa Al-Kadhimi during his visit to the United States this week. During the meeting, they discussed the cooperation in financing infrastructure projects in the fields of water, airports, natural gas and energy projects, especially solar. President Malpass affirmed to Prime Minister […]

Founder Institute launches Accelerator Programme in Iraq

The Founder Institute, the world's largest pre-seed startup accelerator, is excited to announce that it is officially launching its newest chapter in the Levant Region focusing on founders from Jordan, Iraq, and Lebanon. While the Silicon-Valley based programme has chapters in over 200 cities worldwide. Early-stage entrepreneurs in the Levant can now take advantage of […]