By John Lee. The head of the State Oil Marketing Organization (SOMO) has reportedly suggested that Iraq is interested in creating an oil price hedging program that would lock in prices for future trades far in advance. Falah Al Amri is quoted as saying: “We will not rush. This is a long process ... We […]
By Lara Saeed, Managing Editor, Bite.Tech. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Over the past 6 months, we at Bite.Tech have been mapping out the startup ecosystem in Iraq which consists of all the stakeholders who directly add value and and drive the […]
By Wassim Bassem for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. A new era has started in the northern Ninevah Plains, known for its ethnic and religious diversity, following the expulsion of the Islamic State (IS). IS took over the […]
Without urgent investment in education, Iraq’s future generations risk being left behind The future of Iraq, its economic security and prosperity depends on increasing investment in education today. And while the price of investing in Iraq’s education sector is high, failing to do so will cost the nation far more in the future. “The Cost […]
U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Wednesday, conducting 34 strikes consisting of 78 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, […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 38 banks and 10 remittance companies took part in its currency auction on Thursday. A total of $158,102,404 sold at a price of 1184 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. A plan has reportedly been made to rebuild the areas liberated from the Islamic State group (IS, ISIS, ISIL, Daesh) over the next 10 years with $100 billion in financing. According to Al Arabiya, Iraq’s Planning Minister Salman Al-Jumayli said on Wednesday: “The plan to bring stability and development for the liberated […]
The US Army failed to keep tabs on more than $1 billion worth of arms and other military equipment in Iraq and Kuwait according to a now declassified Department of Defense (DoD) audit, obtained by Amnesty International following Freedom of Information requests. The government audit, from September 2016, reveals that the DoD “did not have […]
U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Tuesday, conducting 12 strikes consisting of 32 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, […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 39 banks and 10 remittance companies took part in its currency auction on Wednesday. A total of $150,321,047 sold at a price of 1184 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Reuters reports that following the setting up a new oil trading firm with Lukoil subsidiary Litasco, the State Oil Marketing Organization (SOMO) is considering setting up similar ventures in shipping and oil storage. The news agency quotes the head of SOMO, Falah Alamri, as telling the CWC Iraq Petroleum Conference: “The idea is […]
By John Lee. In a bid to boost local tomato production, The Iraqi government has banned the import of tomatoes from Turkey. A statement from the Iraqi Ministry of Agriculture and Water Resources said the tomato production of Najaf and Karbala is enough to supply all of domestic demand. Rudaw reports that Iraq imported tomatoes […]
