ALE wins business at Karbala Refinery Project
By John Lee. ALE has been awarded several contracts at the Karbala Refinery Project. The deals include the provision of approximately 50 crawler, rough terrain and mobile cranes, the execution of heavy lifting operations, as well as the heavy transportation of approximately 45 oversized items, weighing up to 250 tonnes each. The project has already […]
Oil Ministry Clarifies Gas Export Policy
The Ministry of Oil has confirmed that the gas recently exported from Iraq was what it described as "condensed liquids (C5) or 'natural gasoline,'" a by-product from the associated gas investment extracts used for the industrial purposes, and “not the dry gas which is used for the power generation”. Hamid Y. Salih, the deputy minister […]
Kurdish Yazidi Activist Wins "Int'l Women of Courage Award"
By John Lee. US Secretary of State John Kerry has awarded an ‘International Women of Courage Award’ to a Kurdish Yazidi activist. At a ceremony on Tuesday, Nagham Nawzat Hasan was one of 14 women from fourteen different countries who were honoured for their outstanding roles in their communities as activists, humanitarians and reformers. Yezidi […]
Military Strikes Continue Against ISIL Terrorists in Iraq, Syria
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 on Wednesday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, fighter and […]
Currency Auction Results, 30th Mar
By John Lee. The Central Bank of Iraq (CBI) has reported that 26 banks and 16 remittance companies took part in its currency auction on Wednesday. A total of $81,956,644 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Abadi Rejects Deadline for New Cabinet
By John Lee. Prime Minister Haider al-Abadi has called for parliament to either support or reject his calls for a technocratic government, pushing back against a looming deadline for a new cabinet, according to a report from AFP. He said Parliament must decide if it wants him "to present ministers from the political blocs or […]
IMF could Secure 3-yr Standby Deal for Iraq
By John Lee. Reuters reports that the International Monetary Fund could approve a standby arrangement (SBA) with Iraq as early as June, unlocking $15 billion in international assistance over the next three years. The head of the IMF’s mission in Iraq, Christian Josz, said on Tuesday that the package of assistance, nearly one third of it […]
UNDP and Japan partner to Support Iraq
UNDP and Japan partner to support stabilization and resilience in Iraq The Government of Japan is providing US$23.5 million to support the United Nations Development Programme (UNDP) in its work to help stabilize and build resilience in Iraq. Japan’s contribution will be channeled through UNDP’s Funding Facility for Immediate Stabilization (FFIS) and through UNDP’s Iraq […]
Social and Economic Inclusion Key to Stability in Iraq
World Bank Group President Jim Yong Kim (pictured) told a special session of the Iraqi parliament that the path to stability and shared growth in Iraq lay in empowering local governments, opening up and diversifying the economy, and improving the management of public finances by reforming the public sector and increasing accountability. The speech came […]
Coalition Strikes Continue Against ISIL Terrorists in Iraq
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Iraq yesterday, Combined Joint Task Force Operation Inherent Resolve officials reported on Tuesday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Iraq Attack aircraft conducted four strikes […]
Video: The Influence of Shia Cleric Muqtada al-Sadr
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. When Shia cleric Muqtada al-Sadr speaks, millions of Iraqis listen. Al Jazeera's Bernard Smith explains:
Currency Auction Results, 29th Mar
By John Lee. The Central Bank of Iraq (CBI) has reported that 25 banks and 18 remittance companies took part in its currency auction on Tuesday. A total of $80,514,348 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)