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 […]
Iraq EITI Latest Annual Report: Disappointing Despite Improvement
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraq Extractive Industries Transparency Initiative (IEITI) published its seventh annual report (Report 2015) on 31 December 2016; a second annual report released in one year after it released its Report 2014 […]
Hanwha receives $560m for Bismaya Project
Korean firm Hanwha Engineering and Construction received about $560 million in construction fees last week from the Iraqi government for its ongoing new city project, the company said on Monday. The company has been building the 1,830-hectare new city Bismayah, 10 kilometers southeast of Baghdad, an $8-billion contract signed in 2012. The two parties agreed […]
Currency Auction Results, 4th Jan
By John Lee. The Central Bank of Iraq (CBI) has reported that 30 banks and 17 remittance companies took part in its currency auction on Wednesday. A total of $158,266,383 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Iraq Stock Market closes year Down 12%
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 29th Dec 2016). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQ960 (+1.4%) / $947 (+1.4%) (weekly change) (-12.0% and -17.3% YTD change, respectively). The number of week traded […]
Iraq to start Gas Exports to Kuwait
The National reports that Kuwait has agreed to start a long-delayed gas import deal with Iraq. The plans had been delayed because of the continuing conflict in Iraq, and a lack of investment for infrastructure to convert the huge amount of gas it flares from its oilfields. Meeting with Kuwait’s newly appointed oil minister, Essam […]
Iran Denies Pipeline Deal with Iraqi Kurdistan
Iran has denied that it has reached an agreement with the Kurdistan Region of Iraq for laying joint oil pipelines. The public relations department of the Iranian Ministry of Petroleum announced on Tuesday that the country has made no agreements with the Iraqi Kurdistan for construction of two pipelines to deliver its crude oil to […]