By John Lee. AM General LLC has been awarded a $41,571,288 contract to procure 134 M1151A1B1 and 72 M1152 (pictured) High Mobility Multipurpose Wheeled Vehicles for the government of Iraq. Work will be performed in South Bend, Indiana, with an estimated completion date of Sept. 30, 2017. (Source: US Dept of Defense)
The eleventh edition of the Iraq Petroleum Conference taking place on 22-23 May 2017 in London is set to gather the Country’s industry experts to discuss the future of Iraq’s hydrocarbons sector. Ahead of the conference, CWC Group Director Nawar Abdulhadi interviews one of the key speakers of this year’s event, Mr Loris Tealdi, Managing […]
By Omar Sattar for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraq's firebrand Shiite cleric presents his political successor In a meeting with the ministers of defense and interior in Muqtada al-Sadr's Najaf office May 3, Sadr's nephew Ahmed al-Sadr […]
The AMAR International Charitable Foundation has issued an urgent plea to the international community for increased aid and support for persecuted religious minorities around Mosul. Speaking to MEPs and stakeholders at the European Parliament, AMAR’s Chief of Staff, Andrew Methven, spoke of the acute suffering of Iraq’s minorities, including Christians, Yazidis, Mandaens, Shabak and Turkmen, […]
U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Wednesday, conducting 34 strikes consisting of 81 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, […]
Shares in DNO ASA, the Norwegian oil and gas operator, were trading up 5 percent on Thursday morning after the company announced expanded investments, including doubling of planned 2017 wells at the Tawke field in the Kurdistan region of Iraq, on the back of strong first quarter results. The Company reported quarterly net profit of […]
By John Lee. Zain Group Vice-Chairman and Group CEO, Bader Al-Kharafi (pictured), has said that he anticipates improved performances in Iraq, "where several tax and litigation issues have been resolved and the new leadership there can now focus on driving the business." In its results announcement for Q1, the company added: "Despite the initiation of […]
By John Lee. Authorities in Iraq have reportedly announced the arrest a gang believed to have forged Iraqi dinars worth "billions of dollars". According to The New Arab, the mafia-like network with Lebanese links was detained after a woman arrested at the Baghdad Airport confessed to involvement with counterfeiting money. (Source: The New Arab)
By John Lee. Iraq's Ministry of Electricity (MOE) has announced an investment opportunity for the rehabilitation, operation and transfer (ROT) of the Al Nassiriyah Steam Power Plant. More details here. (Source: National Investment Commission)
Iraq’s first conference for the preparation of the National Development Plan Iraq’s Ministry of Planning launched the first round of discussions on the National Development Plan of Iraq (NDP) 2018-2022. The three-day conference was jointly organized in Erbil by the Ministry of Planning and the Local Area Development Programme (LADP), a project implemented by the […]
By John Lee. A new report from the International Monetary Fund (IMF) predicts more government spending in the current year. In its Regional Economic Outlook for the Middle East, the IMF says: "In Iraq, the fiscal stance is expected to loosen somewhat as the receipt of previously delayed donor financing relaxes the cash constraint faced […]
The Prime Minister of Iraqi Kurdistan has said the Region is safe and secure for investment, and encouraged foreign businesses to return to Kurdistan after the defeat of the so-called Islamic State (IS, ISIS, ISIL, Daesh) terror organization. Speaking at the opening ceremony of a new five-star hotel in Erbil, Nechirvan Barzani said: "Lebanese investors […]
