Iraq agrees $328m GE Electricity Deal
By John Lee. Iraq has reportedly agreed a $328.8 million deal with General Electric. Electricity Ministry spokesman Musab al-Mudaris told Reuters that GE will provide equipment and maintenance for 10 power plants across the country, boosting capacity by 1,000 megawatts (MW). He added that Baghdad will pay GE in instalments over three years, starting in […]
KRG and US Delegation discuss Financial Crisis
Following a recent visit by senior Kurdistan Regional Government, KRG, delegation to the United States to brief the US Administration about the financial crisis in the Kurdistan Region, and to request US support, yesterday Prime Minister Nechirvan Barzani received the US Ambassador to Iraq, Mr. Stewart Jones and his accompanying diplomatic team. In the meeting, […]
Coalition Continues Anti-ISIL Strikes 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 and remotely piloted […]
Drug Smuggling Supported by Maysan’s Tribes
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Hash, Pills And Speed: Drug Smuggling In Iraq Supported By Maysan’s Tribes Smuggling drugs through Iraq on the way to the Gulf and Europe is big business in Maysan province […]
Currency Auction Results, 26th Jan
By John Lee. The Central Bank of Iraq (CBI) has reported that 25 banks and 22 remittance companies took part in its currency auction on Tuesday. A total of $157,930,094 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Southern Iraq Oil Output 4.13m bpd in December
By John Lee. Iraqi oil production averaged 4.130 million bpd in December, all of it from the southern oilfields (as the northern fields are under the control of the KRG). Reuters reports that of the more than 128 million barrels produced during the month, 99.7 million barrels were exported. The selling price averaged $29.288 cents […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 21st Jan 2016). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD944 (-2.0%) / $973 (-2.0%) (weekly change) (-13.4% and -15.1% YTD change, respectively). The number of week traded […]
'Recommendations Forthcoming' on US Troop Presence in N. Iraq
The United States potentially will make recommendations to position U.S. troops with Iraqi security forces in northern Iraq to support the next phase of isolating the key city of Mosul, the chairman of the Joint Chiefs of Staff said. Marine Corps Gen. Joseph F. Dunford Jr., who met here with his French counterpart for talks […]
Iraq Summons Saudi Envoy
Reuters reports that Iraq summoned the new Saudi ambassador, Thamer al-Sabhan, on Sunday after he suggested Iranian-backed Shi'ite militias were exacerbating sectarian tensions and should leave the fight against Islamic State to the Iraqi army and official security forces. Iraq's foreign ministry called the remarks "a break of diplomatic protocol and based on inaccurate information". Saudi […]
Al-Abadi receives Speaker of the Iranian Parliament
Prime Minister Dr. Haider Al-Abadi received in his office on Sunday the Speaker of the Iranian Parliament Ali Larijani and his accompanying delegation. During the meeting they discussed strengthening of relations between the two countries in various fields and the war on Daesh terrorist gangs and the situation in the region and the challenges faced […]
Kurdish Delegation visits UK Uni to create New Partnerships
A delegation of 20 Kurdish officials and businessmen, in London for the Iraq Britain Business Councils (IBBC)'s London Business Forum, visited the University of Wolverhampton last week to exchange ideas and explore partnerships with businesses in the West Midlands and the university itself. Dr Dara Jalil Khayat, President of Kurdistan Federation of Chambers of Commerce […]
Operation Inherent Resolve Strikes Continue 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 Sunday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Fighter, attack, ground-attack […]