Perhaps the biggest story of recent days was the shock dismissal of the Governor of the Central Bank of Iraq (CBI), Sinan al-Shabibi, and the issuing of arrest warrants for him and many of his staff. The nature of the allegations against Mr Shabibi are not entirely clear, but appear to center around manipulation of […]
By Gary Sandiford, Olive Group’s Dubai based assessments manager. Olive Group is a leading provider of security and technology solutions and has operated continuously in Iraq since 2003. Overview Olive Groups Iraq statistics are drawn from multiple sources, including media reporting and direct liaison with in country assets. Included within the statistics are a […]
Thousands of Syrians are fleeing the conflict at home to take refuge in neighbouring countries. Jordan has announced it will open a second camp meaning as many as 250,000 refugees could be held in the country. But Iraq, another Syrian neighbour , is now limiting the numbers coming over the border saying it lacks the […]
By John Lee. Investigators in Iraq have opened an inquiry into alleged manipulation of the exchange rate between the Iraqi dinar (IQD) and the US dollar, and arrest warrants have reportedly been issued for several officials including the head of the Central Bank of Iraq (CBI). Hassan Karim Aati, spokesman for the Commission on Integrity, […]
By John Lee. The Trade Bank of Iraq (TBI) has denied a report it had received cash or letters of credit from Syria for fuel supplies from Iraq, according to a report from Bloomberg. Chairwoman of the bank, Hamdiyah Al-Jaff, said in an emailed statement: "The Trade Bank of Iraq has not conducted such transaction(s)." […]
By Mohammed Hamid al-Sawaf. 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. Unofficial money changers are common in Iraq – and trade is particularly brisk in the tourist town of Karbala. But recently a gang of fraudsters […]
By John Lee. Presidents Maliki and Putin have issued the following statement after their meeting in Moskow: PRESIDENT OF RUSSIA VLADIMIR PUTIN: Mr Prime Minister, ladies and gentlemen, Our meeting with the Prime Minister of Iraq, Mr Nouri al-Maliki, was substantive and constructive. Some significant changes have have been taking place in Iraq since Mr […]
Murat Karayilan, the chief of the PKK's armed wing, explains the Kurdish role in Syria and the impact of the Arab Spring on the region, in this interview with Al Jazeera: (Source: Al Jazeera)
By John Lee. Iraq has agreed to buy 28 Czech-made Aero Vodochody L-159 advanced trainer/light-attack jets valued at $1 billion dollars (770 billions euros), a Czech defence ministry announced on Friday. Agreement to buy the 24 new planes and four older army surplus aircraft was reached at the end of a two-day visit to Prague by […]
By John Lee. Russia has agreed to sell up to $5bn worth of arms to Iraq. Are the motives behind the deal purely financial, and does it impact the delicate balance of power in the region? Guests: Sabah al-Mukhtar, Jorge Benitez, Dmitry Babich: (Source: Al Jazeera)
By John Lee. A high-level Iraqi delegation visiting Russia has made quite a stir this week: Arms deals worth $4.2 billion were announced, making Russia Iraq's second biggest supplier of arms after the US; A memorandum of understanding was signed for political and diplomatic cooperation between the two countries, with Iraq asking Russia’s help to […]
By John Lee. Iraq is to buy more than $4.2 billion of weapons from Russia under contracts signed in recent months, the Russian government announced on Wednesday, making it the largest weapons supplier to the Middle East country after the United States. While a spokesman for Russia's state-controlled arms exporter, Rosvooruzheniye, said it never discusses […]
