By John Lee. Afren announced today that Willkie Farr & Gallagher (UK) LLP (WFG) has completed its independent review into the receipt of unauthorised payments by members of management and senior employees. In connection with the conclusion of this review, the company has decided to terminate the employment and directorships of Osman Shahenshah and Shahid […]
By John Lee. The Financial Times reports that a looming fiscal crisis is threatening to limit Iraq’s ability to finance its war against the Islamic State insurgents. This is despite the country having large oil revenues, billions of dollars in reserves and surplus funds left from unexecuted projects. In recent years, expenditures have "skyrocketed", with […]
By John Lee. One possible consequence of the budgetary crisis facing Iraq is a fall in the value of the Iraqi dinar. As a result of the massive burden of public sector wages and salaries, in addition to subsidies for food and energy, the country faces major expenses in looking after its nearly 2 million […]
By John Lee. Iraq's Foreign Minister, Dr. Ibrahim Al Jaafari, received his British counterpart, Philip Hammond, on Monday. During the meeting, the two ministers discussed the Iraqi political and security developments and the importance of supporting Iraq in eliminating the terrorist Islamic State (IS). Minister Jaafari and Minister Hammond held a joint press conference on […]
By Anne-Laure Barbosa at Constellis Consulting Elevated levels of violence continued to be reflected in a high number of casualties, with at least 408 recorded deaths over the reporting period. While reporting remains interrupted in large swathes of the North, evidence of war crimes committed by Shia fighters against Sunni populations was described in a briefing […]
By John Lee. Stuart Bowen, the former Special Inspector General for Iraq Reconstruction (SIGIR), has claimed that between $1.2 billion [1.4 trillion Iraqi dinars] and $1.6 billion [IQD 1.9 trillion] allocated for the reconstruction of Iraq was stolen and hidden in a bunker in Lebanon, as the American and Iraqi governments ignored appeals to recover […]
The Special Representative of the United Nations Secretary-General for Iraq (SRSG), Mr. Nickolay Mladenov (pictured) held meetings on Sunday with the Kurdistan Region of Iraq’s Parliament. The meeting focused on the continuous cooperation between the KR-I and the central government, as well as on the current humanitarian burden on the KR-I. He received a copy […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. A triple suicide attack tore through a Kurdish compound in eastern Iraq, killing at least 29 members of the security forces and wounding 88, according to hospital and security officials. A roadside bomb […]
The KRG Ministry of Planning and the United Nations have finalised an immediate response plan for Iraqi IDPs sheltered in the Kurdistan Region, including clear objectives to be met by 15 November 2014. The joint document states: "This massive influx of people in a short period has created a grave humanitarian crisis and is pushing […]
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. Money-Making Plots: Extremists Now In Real Estate Business In Mosul The Sunni Muslim extremist group that has taken over the northern city of Mosul has a new source of income: […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Until ten days ago the Iraqi town of Taza Khormatho [Tuz Khormato,Tuz Khurmatu], just south of Kirkuk city, was in the hands of ISIL fighters. But a week ago the Iraqi army and […]
By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Shiite community has much more religious coherence than its Sunni counterpart. This raises several questions for Sunni authorities, including the ones raised by prominent Iraqi Sunni cleric Sheikh Ahmad al-Qabisi in response to Ali […]
