Netherlands will Continue Support to Kurdistan Region
Prime Minister Nechirvan Barzani yesterday received a delegation of The Netherland's Parliament Foreign Affairs Committee headed by Committee Chairperson Ms. Angeline Eijsink, along with representatives of political parties at the Dutch Parliament. The delegation praised the people, government, and the Peshmerga forces of the Kurdistan Region, who, under very difficult circumstances, have been combating the […]
Currency Auction Results, 2nd May
By John Lee. The Central Bank of Iraq (CBI) has reported that 26 banks and 20 remittance companies took part in its currency auction on Monday. A total of $96,077,314 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Gazprom Updates on Iraq Ops
By John Lee. In a Management Report released to the markets, Gazprom gave the following update on its operations in Iraq: The Badrah field (pictured) (30% held by Gazprom Neft Group): In 2015 production was 1.4 million tons of oil, a level sufficient for the project to pay back. The Garmian block in Iraq (Kurdistan) […]
GKP seeks Relief with Bondholders
By John Lee. Shares in Gulf Keystone Petroleum (GKP) closed down nearly 3 percent on Friday after it reached agreement with less than 75 percent of its bondholders to delay making interest payments. The company's full statement: Further to the Company's disclosure on 14 April 2016, Gulf Keystone confirms that constructive dialogue continues with a […]
Strikes Continue Against ISIL Targets in Iraq, Syria
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 on Friday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack and remotely […]
$375m Financing Deal for Power Sector
By John Lee. Dimitris Tsitsiragos, the Vice President of the World Bank's private sector investment arm, told Reuters on Thursday that the bank had arranged $375 million in financing for an Iraqi power company. The International Finance Corporation (IFC) will provide a debt and equity package of $250 million, with another $125 million from Lebanon's […]
Iraq shuts down Al Jazeera Baghdad Bureau
The Iraqi Communications and Media Commission (CMC) has reportedly shut down the Baghdad bureau of Al Jazeera Media Network and banned its journalists from reporting in the country. According to a report from Al Jazeera, in a letter to the company on Wednesday, the CMC said it was withdrawing the licence that allowed Al Jazeera […]
Japan to open Consulate in Erbil
President Masoud Barzani received a Japanese embassy delegation headed by Ambassador Fumio Iwai, Japan's Ambassador to Iraq. President Barzani and Ambassador Iwai spoke of the current political situation in Iraq and expressed optimism that matters will be moving in a more positive direction. The two sides also spoke of the military operations against the terrorists […]
Video: Mass Protests in Baghdad
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Mass protests against Iraq’s government have once again swamped the streets of Baghdad. They want the government out and new leadership that prioritises eliminating corruption. The political standoff in Iraq’s parliament is having […]
Coalition Strikes Hit ISIL Targets in Iraq
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Iraq on Tuesday, Combined Joint Task Force Operation Inherent Resolve officials reported on Wednesday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Iraq Bomber, fighter, ground attack […]
Currency Auction Results, 28th Apr
By John Lee. The Central Bank of Iraq (CBI) has reported that 28 banks and 22 remittance companies took part in its currency auction on Thursday. A total of $121,558,416 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Iraq "one of the Biggest Investment Opportunities"
By Padraig O'Hannelly. The United Kingdom's Ambassador to Baghdad has said Iraq has the potential to become an economic force in the region, and encouraged British businesses to take advantage of the opportunities it presents. Addressing senior executives at the Iraq Britain Business Council (IBBC)'s Spring Conference in London on Wednesday, H.E. Frank Baker OBE said […]