Dubai-based Fashion Retailer to Expand in Iraq
Dubai-based Redtag, the value fashion and home lifestyle brand, has announced that it plans to open 20 more stores in the MENA region in 2016 including in Saudi Arabia, Oman, Egypt, Iraq, and Uzbekistan. Out of a total of the brand’s over 170 stores across the Middle East, 101 are currently in Saudi Arabia, with […]
IS 'Loses 40% of Territory in Iraq'
The Islamic State group (IS, ISIS, ISIL, Daesh) has lost 40 percent of the territory it once controlled in Iraq, a spokesman for the US-led coalition has said. BBC News quotes Col Steve Warren (pictured) as saying that IS was "on the defensive", and had "not gained one inch in Iraq since May". But despite […]
Video: Mop-up Ops continue in Ramadi
From Iran's PressTV. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraqi forces took control of Ramadi a week ago and they’re now fighting small pockets of terrorists in an effort to fully liberate the capital of Anbar province. Government troops have repelled last-ditch […]
Genel Energy Confirms Taq Taq Payment
By John Lee. Genel Energy has announced that the Taq Taq field partners have received a gross payment of $30 million from the Kurdistan Regional Government ('KRG') for oil exported through the Kurdistan Region of Iraq-Turkey pipeline. This represents the fourth export payment by the KRG since payments recommenced in September 2015. Genel's share of […]
Turkey Reopens Iraq Border Crossing
By John Lee. The Habur border crossing between Iraq and Turkey has reopened on a limited basis on Tuesday, but with only 1,250 vehicles being allowed to through each day, according to Today's Zaman. Turkey had closed the crossing on 14th December due to ongoing clashes between Turkish security forces and the Kurdistan Workers' Party […]
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 Tuesday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strike in Syria Fighter aircraft conducted […]
Turkish Airlines Launches New Iraq Route
By John Lee. Turkish Airlines is to launches regular flights from Istanbul to Basra from 2nd March. TK308 will depart from Istanbul at 05:00 on Mondays, Wednesdays, Saturdays, arriving at Basra at 09:10. The return TK309 flight leaves Basra at 10:10 on Mondays, Wednesdays, Saturdays. (Source: Rus Tourism News)
Video: Displaced Christians hope to Return Home
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Hundreds of thousands of Iraqis have been displaced from the country's second-largest city of Mosul. Many of them belong to minority communities, as Al Jazeera's Osama Bin Javaid reports from Erbil:
Currency Auction Results, 5th Jan
By John Lee. The Central Bank of Iraq (CBI) has reported that 26 banks and 23 remittance companies took part in its currency auction on Tuesday. A total of $161,737,563 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Plans to Sell Shares in $1.3bn Iraqi Port
By John Lee. Iraq is reportedly planning to sell shares in the $1.3-billion Grand Faw container port to the public. The head of the Basra provincial council, Sabah Al-Bazooni, told Bloomberg Business that the local government in Basra will seek permission from Baghdad in the coming days to set up a holding company to sell the […]
$10bn Needed to Rebuild Ramadi
By John Lee. Anbar officials estimate that the reconstruction of Ramadi, recently liberated from the Islamic State group (IS, ISIS, ISIL, Daesh), will cost $10 billion (12 trillion Iraqi dinars), as the government says that about 80 percent of the city has been destroyed. According to the report from the Wall Street Journal (WSJ), Iraqi politicians […]
PetroChina, Exxon Approached to Boost Production
By John Lee. Iraq has reportedly approached PetroChina and ExxonMobil about investing in a multi-billion dollar project to help boost output from a number of smaller southern fields. The Deputy Chairman of the South Oil Company (SOC), Basim Abdul Kareem, told Reuters that the "Integrated South Project" consists of building oil pipelines, storage facilities and […]