Iraq Considering Compulsory Military Service
By John Lee. The Iraqi Defence Minister is reportedly working on a draft law to make military service compulsory. According to BasNews, the ministerial council has recently suggested the bill, and the governmental advisory committee is now working on it before presenting it to the council of ministers. If the draft law is approved by the […]
Video: Town Lives in Shadow of World's 'Most Dangerous Dam'
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Amid growing talk that Iraq's largest dam risks bursting, residents of the town of Wana, which would be wiped out within minutes of a breach, are both sceptical and anxious:
Coalition Strikes Target ISIL Terrorists in Syria, Iraq
U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported on Monday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack and remotely […]
Calls for Greater Women's Representation in Decision Making
International Women’s Day: Calls for Greater Representation in Decision-Making as Iraqi Women Continue to Suffer from the Crisis UN Women, in partnership with the Women Parliamentary Committee, organized a high-level event today at the Council of Representatives (Parliament) in Baghdad to mark International Women’s Day. The event comes at a particularly difficult time for Iraqi […]
Japan gives $15m to UN-Habitat Projects in Iraq
United Nations Human Settlements Programme (UN-Habitat) has received USD 15 million from the Government of Japan to implement two projects in Iraq: “Gender-sensitive Durable Shelter Support for Internally Displaced Persons in Iraq” and “Promoting Urban Recovery in Newly Liberated Areas in Iraq.” The conflict with the Islamic State of Iraq and the Levant (ISIL) has […]
US Allows Iraq to Postpone $2.7bn for Arms Purchases
By John Lee. The US government has said it will allow the Iraqi government to postpone the payment of $2.7 billion for arms purchases. On a visit to Baghdad, US Special Presidential Envoy Brett McGurk (pictured) met with Prime Minister Haider al-Abadi, Speaker of Parliament Saleem al-Jibouri, and the governors of Diyala, Salah ad-Din, Ninewa […]
Atlas Copco Appoints a New Distributor in Iraq
Atlas Copco has appointed a new distributor, Merkez Al-Madina for Machinery and Equipment Trading Company. The company is part of the HMBS Group, which has been operating in Iraq for over 100 years and will now represent Atlas Copco’s Compressor Technique and Construction Technique business areas in Iraq. Equipment and aftermarket services covered by this […]
Pipeline Outage Almost Halves KRG Oil Exports
The Kurdistan Regional Government (KRG) today publishes the monthly crude oil export report for February 2016. The report details: All oil export volumes through the KRG-Ceyhan crude oil pipeline; all crude oil cargoes lifted from Ceyhan by the buyers; and the revenues received on account by the KRG during the month. The KRG exported 10,151,944 […]
Fitch revises Iraq's Outlook to Negative
Fitch Ratings has revised its outlook on Iraq's Long-term foreign currency Issuer Default Rating (IDR) to Negative from Stable and affirmed the IDR at 'B-'. The Country Ceiling has been affirmed at 'B-' and the Short-Term foreign currency IDR at 'B'. KEY RATING DRIVERS The revision of the Outlook reflects the following key rating drivers: […]
Khudairi Appointed as Shell Lubricants Macro Distributor in Iraq
Khudairi Group, a leading provider of services to the energy, engineering and construction industries in Iraq, has been appointed by Shell as its macro-distributor for lubricants in the country. The new partnership was formalised at a signing ceremony attended by representatives from Khudairi Group and Shell in Dubai, UAE. Commenting on the partnership, Mr. Aziz […]
KRG Tightens Grip on Oil with Kirkuk Deal
By John Lee. The Kurdistan Regional Government is cementing control over oil produced in the north of the country by agreeing to sell crude pumped in the contested province of Kirkuk, according to a report from Bloomberg Business. Kirkuk Governor Najmuddin Omar Karim (pictured) told Bloomberg that the agreement covers oil produced in Kirkuk, which Kurdish […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 3rd Mar 2016). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD900 (-3.6%) / $927 (-3.3%) (weekly change) (-17.5% and -19.1% YTD change, respectively). The number of week traded […]