New IEA report provides practical roadmap to address Iraq’s current electricity shortfall and future energy needs Iraq, one of the world's biggest energy producers, can address its current electricity shortfall and growing power needs through immediate action to relieve pressure on the system, according to an in-depth report published Thursday by the International Energy Agency […]
By John Lee. Foreign Minister Mr. Mohamad A. Alhakim Head of the Iraqi side and Russian Deputy Prime Minister Mr. Yury Borisov Head of the Russian side, signed the joint meeting minutes of the eighth session of the joint Iraqi-Russian committee. They agreed to develop and enhance mutual cooperation in various productive and service sectors, as well […]
Cumulative production at the West Qurna-2 field has reached 100 million tons of oil as part of successful implementation of Phase 1 of the project. With 184 wells drilled at the field, the average daily production rate is 400,000 barrels. Operator Lukoil said in a statement that, to manage the field's production, it uses "the […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 25th April 2019). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD584 (-1.2%) / $629 (-1.1%) (weekly change) (-11.4% and -11.4% YTD change, respectively). The number of week traded […]
By John Lee. The National Investment Commission (NIC) has announced a new investment opportunity in Iraq: Rehabilitation of Bismayah Connecting Road, Ministry of Construction, Municipalities and Public Works (Source: National Investment Commission) (Picture: Business opportunity word cloud, from ibreakstock/Shutterstock)
Top Mountain LLC hosted the first annual Business Canvas Erbil conference which was attended by 120 participants and took place in the Dedeman hotel. The conference was funded by the European Union and German Federal Ministry for Economic Cooperation and Development through GIZ. The event was also sponsored by GroFin Iraq, a financing organization that […]
By John Lee. The United Nations has advertised new positions in Iraq: Finance Officer, Danish Refugee Council (DRC) Supply Chain Officer, Danish Refugee Council (DRC) Monitoring & Evaluation Coordinator - Accountability, Norwegian Refugee Council (NRC) Information Management (IM) Officer, Norwegian Refugee Council (NRC) ICT Assistant, Norwegian Refugee Council (NRC) Security Coordinator, Norwegian Refugee Council (NRC) […]
By John Lee. The United Nations has advertised new positions in Iraqi Kurdistan: Gender Officer, UNDP - United Nations Development Programme Finance Manager, Danish Refugee Council (DRC) Livelihoods Specialist, Danish Refugee Council (DRC) Deputy Director of Operations, International Rescue Committee (IRC) Internship, Graphic Designer, UNICEF - United Nations Children's Fund Internship, Child Protection, UNICEF - […]
The total amount of the Iranian exports to neighboring Iraq during the last Persian calendar year (March 2018- March 2019) hit a record high, the data released by Iran’s Customs Office showed. During the last Iranian year, the Islamic Republic exported $9 billion worth of products to Iraq, indicating a 36 percent increase comparted to […]
"It's a money-making machine," says garage owner Karhi Bakr, 59, about the import of secondhand car parts into the Kurdistan capital of Erbil. Containers full of parts from cars written off after accidents in the West continue to pour into the city, which has become a major hub for the trade. Some of the 200 or […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq to expand Karbala shrine for growing number of pilgrims The Iraqi city of Karbala is planning a major expansion of a key religious site to cope with a growing number of pilgrims. […]
By John Lee. Approximately $64 million has reportedly been embezzled in Mosul by officials said to be close to the recently-sacked governor, Nawfel Akoub, who is currently on the run following a warrant for his arrest in relation to the Mosul ferry disaster. AFP quotes Iraq's Integrity Commission as saying that officials "close to Akoub" […]
