Fitch Ratings has assigned Trade Bank of Iraq (TBI) a Long-Term Issuer Default Rating (IDR) of 'B-' with Stable Outlook. According to Saudi Gazette, this makes TBI the first bank in Iraq to get B- from Fitch. IDRS AND VIABILITY RATING TBI's IDRs are driven by the bank's Viability Rating (VR) and underpinned by potential […]
The secretary general of Iran-Iraq joint chamber of commerce highlighted an upward trend in the export of Iranian products to Iraq. In a meeting with Iranian and Iraqi trade delegations, Hamid Hosseini pointed to a growing trend in Iran’s exports to the Arab country, saying its daily value stands at $45 million and sometimes reaches […]
GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld's Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments […]
The Al-Bayan Center for Planning and Studies has proposed the creation of sovereign wealth fund in Iraq. Once used by only a few countries around the world, Sovereign Wealth Funds (SWFs) are becoming an increasingly common feature of international finance and state-led economic development. An increasing number of countries, predominantly developing countries, who rely on the export of commodities […]
By Amberin Zaman for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Sinjar road reconnects estranged Yazidis and Kurds with Baghdad Nadia Murad (pictured), the Nobel prize laureate who has emerged as the universal face of Yazidi persecution by the Islamic […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. There is a fight over energy in Iraq between the US and Iran. Iraq relies on Iranian gas for nearly half of its energy - gas that is now subject to US sanctions […]
By John Lee. US-based Schlumberger has won a deal with Iraq's Basra Oil Company (BOC) to drill 40 new wells at Majnoon oilfield. In a statement on Wednesday, the Ministry of Oil also announced that the BOC had entered into a 19-month contract with the Iraqi Oil Exploration Company to carry out 2D and 3D […]
By John Lee. The Iraqi government has said it intends to extend pension rights and other benefits to public sector employees on short term and daily contracts. At a cabinet meeting in Baghdad on Tuesday, Prime Minister Adil Abd Al-Mahdi told the Cabinet that the government intends to introduce measures to give public sector employees on […]
Even after the military defeat of ISIS, the Netherlands will continue working to ensure security and stability in Iraq and the wider region. Foreign minister Stef Blok made this point during his trip to Jordan and Iraq. ‘We have to do this to prevent ISIS from regaining strength,’ he said. Since the Netherlands joined the […]
By Michael Knights, for the Combating Terrorism Center. The Islamic State Inside Iraq: Losing Power or Preserving Strength? In addition to losing control of Iraqi cities and oilfields, the Islamic State has clearly lost much of the capability it developed within Iraq from 2011-2014. Quantitative attack metrics paint a picture of an insurgent movement that […]
By John Lee. The State-owned Trade Bank of Iraq (TBI) is reportedly looking to acquire a lender in Turkey, the country's biggest trade partner, after abandoning a previous attempt. Chairman Faisal Al Haimus is quoted by The National as saying that the TBI is keen on a conventional bank rather than a Sharia-compliant bank, but […]
The central banks of Iran and Iraq are finalizing negotiations to begin trade in their own currencies, chairman of Iran-Iraq Chamber of Commerce said. Speaking to Tasnim, Yahya Ale-Eshaq said negotiations between the central banks of Iran and Iraq are under way to reach an agreement on using rial and dinar in bilateral trade. Once […]
