Currency Auction Results, 25th Feb
By John Lee. The Central Bank of Iraq (CBI) has reported that 29 banks and 20 remittance companies took part in its currency auction on Thursday. A total of $107,780,000 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Iraq Oil Sector Needs $300bn Investment
By John Lee. Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] has said that Iraq’s oil and gas industry will need an investment of $300 billion over the next 15 years. He made the statement during a visit to Japan, at which he also discussed the long relationship between the two countries in the energy […]
Weir Group Iraq Revenues Offset Declines
By John Lee. In its final results for the 52 week period ended 1 January 2016, released today, Weir Group announced that services revenues were more resilient with growth in Iraq partially offsetting declines in the North Sea and the Caspian. The company also said that is had acquired a service facility in southern Iraq. Keith […]
Petrofac will soon complete Badra Project
By John Lee. Petrofac announced its final results for the year ended 31 December 2015 on Wednesday. As part of its update, it said it has completed "the second of three trains on the Badra project in Iraq and the third train is expected to be completed shortly". (Source: Petrofac)
Iraq Begins Construction on Baghdad Wall
By Omar Sattar, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraqi government has embarked on the construction of a wall around Baghdad to protect the capital from terror attacks that have been ongoing since 2003 and to isolate it from hotbeds in […]
Military 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 today. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, fighter and ground […]
Why this Iraqi City is Starving
By Omar al-Jaffal, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The city of Fallujah in Anbar province has been under the Islamic State’s (IS) control for nearly two years. When asked about the living conditions there, Mahmoud Falluji (a pseudonym) said, “I reached a […]
Currency Auction Results, 24th Feb
By John Lee. The Central Bank of Iraq (CBI) has reported that 25 banks and 20 remittance companies took part in its currency auction on Wednesday. A total of $94,700,000 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Ministry of Oil Concludes Shaky Refinery Deal with Satarem
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Ministry of Oil Concludes Shaky Deal for Missan Refinery with Satarem The Ministry of Oil has decided to go ahead with the Missan Refinery deal with the legally bankrupt small Swiss […]
More Directorate Changes at Genel Energy
Genel Energy has announced that Jim Leng has indicated his intention to retire from the Board of Genel at the AGM in April 2016. Jim Leng has served over five years at Genel as Non-Executive Director, Senior Independent Director and as Chairman of the Remuneration Committee. Following his appointment in December 2015 as Non-Executive Chairman […]
Mobile Money Service goes live in Iraq
eServGlobal has announced the commercial launch of mobile money services with Zain Iraq. According to a statement from the company, the service was soft-launched in January and has already attracted strong interest. The service is called 'Zain Cash' and is offered by Iraq Wallet, which is an authorised company from the Central Bank of Iraq (CBI). […]
Military Strikes Hit 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, fighter and […]