UK Pharma Startup Exports Medicines to Iraq
By John Lee. CurePharma, a UK-based medicines and pharmaceuticals wholesaler and distributor, has exported the first consignment of British manufactured medicines to Iraq. The consignment of prescription and over-the-counter medicines, worth around £50,000 in current prescription and retail values, was sent to a large pharmaceutical distributor in Baghdad, from which it will be delivered to […]
Iraq Begins to cut Oil Production
By John Lee. Iraq has begun reducing its crude oil output from the start of the year, in line with its OPEC commitments. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] said in a statement on Thursday: "Iraq confirms its commitment to the decision of OPEC, which was taken during the last meeting in Vienna, by […]
Iraq to Receive $1bn Loan from US
By John Lee. The Iraqi government has signed a one-billion-dollar loan with the United States to "[assist] Iraq to achieve victory in its battle against IS, and to realize economic reform". Stephanie William, the U.S. Embassy's Chargé d'Affaires and Fadhil Nabi, the Iraqi Deputy Minister of Finance signed the agreement in Baghdad on Thursday. The […]
U.S. Airstrikes Weaken Al-Qaida, ISIL Terrorists
A series of precision U.S. airstrikes against al-Qaida operatives this week in northwestern Syria’s Idlib province killed more than 20 militants and destroyed eight vehicles and nine structures, Pentagon Press Secretary Peter Cook told reporters today. A U.S. strike on Jan. 1 hit two al-Qaida vehicles that had departed a large al-Qaida headquarters near Sarmada, […]
Is Iraq turning into a Drug-Producing Country?
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 Nov. 23 report by specialized judges revealed the establishment of plants to produce Krystal — the local name of crystal methamphetamine or crystal meth. The findings suggest that […]
Military Strikes Target ISIL Terrorists in Syria, Iraq
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Iraq and Syria yesterday, Combined Joint Task Force Operation Inherent Resolve officials reported today. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, bomber, fighter and […]
Currency Auction Results, 5th Jan
By John Lee. The Central Bank of Iraq (CBI) has reported that 33 banks and 17 remittance companies took part in its currency auction on Thursday. A total of $158,915,838 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
KBR Not Liable over Iraq Human Trafficking Claims
By John Lee. A U.S. appeals court has ruled that the engineering firm and military contractor KBR Inc is not liable for a case of alleged human trafficking in Iraq. According to Reuters, the case concerned the 2004 kidnapping and murder by insurgents of 12 Nepali men, who were being transported in Iraq to work […]
Govt Internet Shutdowns Cost Iraq $209m
By John Lee. Iraq, along with India, has the most government shutdowns of the internet. According to a report from the Brookings Institution, Iraqi authorities shut down the country's internet on 22 separate occasions between 1st July 2015 and 30th June 2016, at an estimated economic cost of $209 million. Iraq was taken offline in […]
ExxonMobil pulled out of Kurdistan "Because of Iranian Influence"
By Dilshad Abdullah for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. International oil companies pull out of Kurdistan Exxon Mobil has pulled out of three of the six exploration blocks it operated in the Kurdistan Region. The American oil giant withdrew […]
13,000 people flee Mosul over Five Days
More than 13,000 people have fled Mosul in just five days since 29 December, as the second phase of military operations to retake the Iraqi city from Islamic State of Iraq and the Levant (ISIL/Da’esh) terrorists has apparently begun, a United Nations spokesperson said today. “The average daily displacement numbers have increased by nearly 50 […]
Coalition Strikes Continue Against Terrorists
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Iraq and Syria on Tuesday, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, bomber, fighter […]