Amnesty Int'l Condemns 'Shocking Surge' in Death Sentences
From Amnesty International. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The 40 death sentences handed down today in Iraq after a fundamentally flawed mass trial show a reckless disregard for justice and human life, said Amnesty International and brings the total sentenced in […]
Currency Auction Results, 22nd Feb
By John Lee. The Central Bank of Iraq (CBI) has reported that 28 banks and 21 remittance companies took part in its currency auction on Monday. A total of $107,570,000 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Iran Sets Up Pickup Assembly Line in Iraq
By John Lee. Mohammad Reza Nematzadeh, Iranian minister of Industry, Trade and Mines, has opened a new assembly line at Iran Khodro (IKCO)'s assembly plant in Iskandariya, Iraq. The factory has the capacity to manufacture 30 Arisan pickup trucks per day; the Arisan, also called the “PU1”, replaces the Paykan pickup in Iran’s market. Parts […]
New Import Tariffs Causing Port Chaos
By John Lee. A new 30-percent customs tariff in Iraq is reported to be slowing business at the port of Umm Qasr (pictured), which handles 80 percent of the country's imports, choking the port with thousands of uncollected cargo containers. But according to the report from Reuters, the new rate does not apply in Iraqi […]
Senior Officials Referred to Court on Corruption Charges
By John Lee. Iraq’s Commission of Integrity has referrd four former senior officials to court on charges of corruption. Middle East Monitor reports the the Commission referred two former deputies of Prime Minister Haider al-Abadi, the former director of former Prime Minister Nouri al-Maliki’s military office, and Baghdad’s former mayor. Bahaa al-Araji, Saleh al-Mutlaq, Farouk […]
UltiSat wins Satcom Contract with SOS Int'l
UltiSat has been awarded a contract by SOS International (SOSi) to provide an integrated and managed satellite communications network solution in Taji, Iraq. SOSi is a provider of logistics, construction, training, intelligence, and information technology solutions to clients in the defense, diplomatic, intelligence and law enforcement communities. UltiSat is tasked to deploy, operate, and maintain […]
Iran, Iraq MoU on Financial Corruption
By John Lee. High-ranking officials from Iran and Iraq are to sign a memorandum of understanding (MoU) to improve cooperation in fighting financial corruption. The Head of the General Inspection Office of Iran, Nasser Seraj, hosted a visit from Hasan Al-Yasiri, the head of Iraq's Commission of Integrity, at which various aspects of the anti-corruption […]
KRG Authorises GKP Shaikan Payment
Gulf Keystone Petroleum (GKP) announced today that the Kurdistan Regional Government has authorised a gross payment of US$15 million (US$12 million net to Gulf Keystone) to the company. Further to the KRG's Ministry of Natural Resources ("MNR") press release of 1 February 2016, this payment is being made on the basis of the Company's monthly […]
Weatherford, SGS deny Responsibility for Stolen Radioactive Material
By John Lee. The International Atomic Energy Agency (IAEA) has told Reuters of a theft a radioactive source in Zubair. The industrial radiography device is described Ir-192 in a shielding container, which is classified as a Category 2 radioactive substance, meaning that if not managed properly it could be fatal to someone exposed for a […]
Air Power Vital to Counter-ISIL Success, Commander Says
As the U.S.-led coalition’s air campaign to counter the Islamic State of Iraq and the Levant in Iraq and Syria brings its capabilities to the fight, joint interoperability continues to degrade the terrorist organization, the commander of U.S. Air Forces Central Command said today. Air Force Lt. Gen. Charles Q. Brown Jr., who also serves […]
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 on Thursday. 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, 18th Feb
By John Lee. The Central Bank of Iraq (CBI) has reported that 28 banks and 19 remittance companies took part in its currency auction on Thursday. A total of $111,400,000 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)