IBBC Welcomes Five New Members
The end of 2016 saw several new members join the Iraq Britain Business Council (IBBC), each of which are underpinned by strong reputations for innovation, reliability and a commitment to investing in Iraq. GE, Khudairi Group, Pell Frischmann, Petronas and Siemens join 51 other world- and region-leading companies that form IBBC’s Council of Members. “IBBC […]
Fears for 750,000 Civilians in Western Mosul
Humanitarians fear for the 750,000 civilians in western Mosul 100 days after military operations to retake Mosul started, humanitarian partners are expressing deep concern about the plight of the estimated 750,000 civilians who are currently living in the western sections of the city where fighting is expected to start in coming weeks. "We are relieved […]
National Immunization Campaigns Launched in Iraq
A national immunization days campaign has today commenced in Iraq and targets over 6 million children aged 0 to 5 years of age. Supported by the Ministry of Health, WHO and UNICEF, the door-to-door campaign is being conducted for 5 days and will include the newly liberated areas in Mosul where thousands of children have […]
Iraqi Refining: Reality Check and Policy Thoughts for Consideration
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqi Refining Sector: Reality Check and Policy Thoughts for Consideration This Executive Summary falls in two parts: Part One provides brief baseline survey and situation analysis and thus it deals with two […]
Making Ends Meet in Iraqi Kurdistan
By Mark DeWeaver. Last November I was back at the American University of Iraq’s Institute of International and Regional Studies in Sulimaniyah, researching a report on the KRG’s latest economic reform initiatives. I was surprised to find that the KRG now has some promising programs underway to increase revenues and cut expenses. Given the dire […]
Genel Energy Shares Slide on Lower Production Forecast
By John Lee. Genel Energy has issued the following trading and operations update in advance of the Company's full-year 2016 results, which are scheduled for release on 30 March 2017. In the statement (see below), the company said it expects a significant drop in production in 2017. Share were trading down 11 percent on Tuesday. […]
Gulf Keystone, Shaikan Payment Update
Gulf Keystone Petroleum (GKP) has confirmed that a gross payment of $15.0 million has been received from the Kurdistan Regional Government ("KRG") for Shaikan crude oil export sales in October 2016. Gulf Keystone and the KRG's Ministry of Natural Resources ("MNR") continue to work towards agreeing the final form of the invoices for May to […]
IBBC Opens New Office on London’s South Bank
The Iraq Britain Business Council (IBBC) has relocated its London office south of the river to Lambeth, a short walk from its old premises in Westminster. The IBBC team moved into the new office, which is located in Westminster Tower along Albert Embankment, in late November 2016. It shares the space with the AMAR Foundation, […]
Military Strikes Continue Against ISIL in Syria, Iraq
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq yesterday, Combined Joint Task Force Operation Inherent Resolve officials reported today. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in Syria Rocket artillery and bomber, fighter […]
ISIL on Run in Eastern Mosul, Pentagon Spokesman Says
Iraqi security forces are finishing clearing operations in eastern Mosul while Islamic State of Iraq and the Levant fighters have ceased fighting and are on the run, Pentagon Press Operations Director Navy Capt. Jeff Davis said today. Speaking with reporters, Davis said ISIL fighters are moving to Mosul’s north bank of the Tigris River to […]
Iraqis Offer Turkish Firms $200m Project in Baghdad
By John Lee. Following a visit by the Turkish Prime Minister Binali Yıldırım (pictured) to Iraq last week, an Iraqi business delegation has come to Turkey and proposed a $200-million construction project in Baghdad to Turkish businessmen. Tevfik Öz, a member of the board of the Turkish-Iraqi Business Council, told Daily Sabah that the Iraqi […]
Nearly Half of Kurdish Businesses Pay no Tax
From Rudaw. Re-published with permission by Iraq Business News. Of nearly 25,000 registered companies in the Kurdistan Region, only around 13,000 of them pay corporate income tax, according to a new report from the Directorate of Taxes and Public Properties in Erbil. General manager of the directorate, Dr. Kamal Tayyib, told Rudaw the systematic tax […]