Lebanese security services arrested have reportedly arrested the former Iraqi trade minister, Abdul-Fallah al-Sudani [Abd al-Falah al-Sudani], who is convicted of corruption. Sudani, who is wanted by Interpol, was arrested in Beirut Rafic Hariri International Airport (pictured) on 10th September. In 2012, Sudani was convicted of embezzlement in absentia and sentenced to seven years in […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 7th Sept 2017). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD783 (+0.3%) / $803 (-0.1%) (weekly change) (-18.6% and -15.1% YTD change, respectively). The number of week traded […]
By John Lee. Iraq has replaced the head of its State Oil Marketing Organization (SOMO). Falah al-Amri [Falah Jasim Alamri, Falah al-Amiri], who has been in the top job at SOMO since March 2006, is to become an advisor on marketing and strategy at the Oil Ministry. He is to be replaced at SOMO by […]
Unit No.4 of the Hartha Thermal Power Station has re-started operations and is supplying 200MW of electricity to the grid, following rehabilitation works funded with the Japanese ODA loan. A completion ceremony was held on 7th September, attended by Mr. Adel Kadhim Jaryan, Deputy Minister of Electricity, Representatives of Basra Governorate, officials of Ministry of […]
Ahead of the international Basra Oil, Gas & Infrastructure 2017 Conference which CWC Group hosts annually with the Basra Governorate, the Basra Council and the Basra Oil Company, Nawar Abdulhadi, MENA Director for CWC Group interviewed Mr Ali Shadad Al Fares, Chairman of the Oil & Gas Committee at the Basra Council. Mr Ali Fares […]
By John Lee. Genel Energy announces that Tim Bushell and Martin Gudgeon have been appointed as independent Non-Executive Directors of the Company with immediate effect. Mr Bushell is a qualified geologist with over 35 years' experience working in the oil and gas sector. He is currently on the Boards of Petro Matad, Rockhopper Exploration, and Point […]
By John Lee. A recent report suggests that, in the uncertainty following the recent Angolan election, the Iraqi assets of the state-owned oil company Sonangol are in play. Writing in Seeking Alpha, Jay Currie says the the Najmah and Qaiyarah [Qayara] oil fields may be transferred to Russian service company Eurasia Drilling, and questions the […]
U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Friday, conducting 43 strikes consisting of 47 engagements, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of yesterday's strikes, noting that assessments of results are based on initial reports. Strikes in Syria In Syria, […]
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 […]
Reconstruction in Iraq could cost nearly $150 billion covering areas damaged by the war over the past three years, an Iraqi newspaper reported on September 7. The World Bank has made a preliminary assessment of rebuilding costs at the request of Iraq's Reconstruction Fund for Areas Affected by Terrorist Operations, according to the Arabic language […]
Moscow is holding negotiations with Iraqi authorities on the possibility of moving the Russian embassy, which currently occupies a building in Baghdad’s Mansour district, to a safer area of the Iraqi capital city, local media reported, citing a Russian diplomatic source. "The negotiations to provide Russia with a new site for the embassy in Baghdad […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The annual holiday of Eid is usually an occasion to take a break, visit family and exchange gifts. In the semi-autonomous northern region of Iraqi Kurdistan, locals prepare by buying […]
