Iraq's Ministry of Planning, the Central Statistical Organization (CSO), together with the International Labour Organization (ILO) have launched a national Labour Force Survey, the first of its kind to be conducted in Iraq in the last decade. The survey presents estimates at the national, governorate, urban and rural levels and covers a broad array of […]
By John Lee. Jibal Yathrib For General Contracting LTD has won a contract with the United Nations for the rehabilitation of 37 damaged houses in Maghrib and Sikak neighborhood, Mosul City, Nineveh Governorate, Iraq. The contract is valued at $161,293.90, and has a stated potential end date of 11th May 2023. (Source: UN Procurement Division)
By John Lee. Fitch Ratings has assigned the Kurdistan International Islamic Bank (KIIB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the rating reflects the bank's "weak franchise, unstable business model and operations in the highly volatile operating environment of Iraq". More here. (Source: Fitch Ratings)
By John Lee. ZoodPay has announced that it has entered into a strategic partnership with Shopini, a leading Iraqi company in retail, e-commerce, shipping, supply chain, and food delivery. According to a statement, the company has one of the major online marketplaces in Iraq with over one million downloads, a network of offline stores in […]
By John Lee. The Iraqi Ministry of Oil has confirmed reports that three major US-based oilfield services companies have informed the Ministry that they will refrain from entering into new projects Iraqi Kurdistan. It says that Schlumberger, Baker Hughes and Halliburton have made the commitment to comply with the Federal Supreme Court ruling that oil […]
By John Lee. Prime Minister Mustafa al-Kadhimi has announced that the Eid al-Adha holiday will begin on Saturday 9th July, and end on Thursday 14th July. Government institutions will resume work on Sunday 17th July. The Iraqi Stock Exchange will also close during this period. (Sources: General Secretariat for the Council of Ministers, ISX, Rabee)
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for June of 101,191,236 barrels, giving an average for the month of 3.373 million barrels per day (bpd), up from the 3.300 million bpd exported in May. The exports from the oilfields in central and southern Iraq amounted to approximately 97,980,589 barrels, while […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for May of 102,303,020 barrels, giving an average for the month of 3.300 million barrels per day (bpd), slightly down from the 3.380 million bpd exported in April. The exports from the oilfields in central and southern Iraq amounted to approximately 98,946,914 barrels, […]
By Mohamed Sabry for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Egypt to build desalination plant in Iraq Egypt plans to build a desalination plant on the Euphrates River to help address acute water shortages in southern Iraq amid lack […]
By John Lee. Greek construction company Archirodon has filed a petition to enforce an arbitration award against the General Company for Ports of Iraq, the Iraqi Ministry of Transport, and the Republic of Iraq. According to Offshore Alert, the company is claiming $105 million relating to an arbitration award that was granted three years ago. […]
Norway reaffirms its commitment to stabilization in Iraq with US$ 7.5 million contribution The Government of Norway has made a new contribution NOK 70 million (approximately US$ 7.5 million) to the United Nations Development Programme (UNDP) Iraq's Funding Facility for Stabilization (FFS), which supports stabilization, durable solutions, and the safe return of internally displaced Iraqis […]
By John Lee. As part of the national campaign to eliminate the smuggling of oil derivatives, five vehicles prepared for smuggling were seized and four people were arrested in Salah al-Din Governorate. Four large storage tanks were also seized at the smugglers' base. A further four premises were seized in raids in Nineveh, Anbar, Babil […]
