By John Lee. Iraq is facing a combination of acute shocks which the country is ill-prepared to manage, according to a new World Bank report. It says the outlook for Iraq, which was already negative prior to the COVID-19 shock, has markedly worsened since. Click here to download the full report (Source: World Bank)
By Dana Taib Menmy for Al-Monitor. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq cuts federal budget from KRG, Kurds defy it as political Adel Abdul Mahdi's Iraqi caretaker government in Baghdad April 16 has ordered its Finance Ministry in an official document […]
From Middle East Monitor, under a Creative Commons licence. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Coronavirus to raise poverty rate in Iraq to over 20%, warns minister Iraq's poverty rate is expected to rise to more than 20 per cent as […]
The KRG's Regional Council of Oil and Gas Affairs has published a report containing verified statistics covering the Kurdistan Region's oil exports, consumption and revenues for 2019. The report, available in Kurdish, English and Arabic, provides a quarterly analysis of oil export information and average prices, together with a consolidated annual overview. The data verification […]
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has designated dual Iranian and Iraqi national Amir Dianat, a longtime associate of senior officials of Iran's Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF). Dianat, who is also known as Ameer Abdulazeez Jaafar Almthaje, is involved in IRGC-QF efforts to generate revenue and smuggle […]
By John Lee. The Iranian parliament, the Majlis, has approved a government bill to redenominate its currency, dropping four zeros. According to Tehran Times, the proposal came from the Central Bank of Iran (CBI), and will result in a new currency, the "toman", which will equal 10,000 rials. Reuters reports that the bill must now […]
By Dr Amer K. Hirmis. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Will crashing oil prices mean the collapse of Iraq's economy? No. Will the Iraqi economy (and people) suffer? Yes, a great deal... Since the crash in Iraqi oil prices from US$61.0 […]
Investment Horizons for Startups in the Post-Corona Age in Iraq and the MENA Region. Join us for a special online session on Tuesday 5th of May at 10 PM with KAPITA's Fund Manager Ali Al Suhail Sign up for the session in the link below: https://docs.google.com/forms/d/e/1FAIpQLSdZmz3QKLGFpfUSY4TMhcUVQkqDa7394LMqRvXnmrbyvto1pw/viewform (Source: Kapita)
As Prime Minister-designate Mustafa Kadhimi (pictured) attempts to form a new government, the following names are said to be in the running for cabinet positions, according to Hassan Hadad (@abufellah) on Twitter:
By Kate Denereaz, for AMAR International Charitable Foundation. Yazidis displaced in the Kurdistan Region of Iraq are particularly vulnerable to COVID-19. They also face a mental health crisis that the pandemic threatens to make worse. Zaid, 31, has just heard the news that a resident of Darashakran camp in Erbil has been diagnosed with COVID-19. […]
By John Lee. Mobile phone service Asiacell has reported revenue growth or nearly 2 percent in the first quarter of this year. In its results for the quarter ended 31 March 2020, the company said: "Asiacell reported revenue growth to QAR 1.09 billion in Q1 2020, up from QAR 1.07 billion in Q1 2019. The […]
By John Lee. Iraq's Ministry of Oil has announced oil exports for April of 103,144,911 barrels, giving an average for the month of 3.438 million barrels per day (bpd), slightly up from the 3.390 million bpd exported in March. These exports from the oilfields in central and southern Iraq amounted to 100,532,427 barrels, while exports […]
