Currency Auction Results, 1st Oct
By John Lee. The Central Bank of Iraq (CBI) has reported that 26 banks and 9 remittance companies took part in its currency auction on Thursday. A total of $223,122,249 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Egypt Finalises Farm-in at Block 9
By John Lee. Egypt has finalised a farm-in at Iraq's Block 9 area in Basra province on Wednesday. Under the agreement, Kuwait Energy (KEC) will give up 10 percent of the concession, leaving it with a 60 percent share. According to a report from Reuters, this is the first time that the state-owned Egyptian General Petroleum […]
UNHCR Opens Two New Camps
The UN refugee agency, its partners and local authorities have opened two new camps for internally displaced persons (IDPs) in Baghdad province, providing shelter to close to 3,500 Iraqis who have had to flee Anbar province due to recent fighting. Sadr Al Yusufiya camp (pictured) opened on Tuesday (September 22), six kilometres from Bzeibiz bridge, […]
Lenders Rip Off Small Iraqi Businesses
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. In order to expand his men's shoe business, Mohammed Jizani had to borrow $100,000 from a loan shark. As is common in such cases, he was forced to pay the lender $4,000 […]
Iran, Iraq Foreign Ministers Meet
On the sideline of the UN General Assembly meetings, Iraqi foreign affairs minister Dr. Al-Jaafari met his Iranian counterpart, Mr. Mohammed Javad Zarif. During the meeting, they discussed the bilateral relations and horizons to promote them in the interest of the two neighbouring countries; in addition to, discussing the political and security situations in the […]
Currency Auction Results, 30th Sept
By John Lee. The Central Bank of Iraq (CBI) has reported that 23 banks and 16 remittance companies took part in its currency auction on Wednesday. A total of $264,748,636 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
PR Firm to support Iraqi Sunni Community
By John Lee. Washington DC-based communications consultancy Glover Park Group has reported that it has been engaged to work in the United States on behalf of the Iraqi Sunni community. In a statement made pursuant to the US’s Foreign Agents Registration Act (FARA), Managing Director Joel Johnson (pictured) said that the company is acting on […]
IKCO Iraq "at Full Capacity"
By John Lee. Iranian vehicle maker Iran Khodro (IKCO) has exported over 6,000 vehicles to the international markets in the first half of the current Persian calendar year surpassing the car manufacturer's export record throughout last year. IKCO 's Deputy for Export and International Department, Saeed Tafazzoli said IKCO's main foreign site is located in […]
Iraq Deploys Forces at Borders
By John Lee. Jordan's Petra news agency reported on Tuesday that Iraq has deployed border guards along the borders with Jordan and Saudi Arabia to prevent the infiltration of extremist elements. The Head of Anbar Provincial Council, Sabah Karhot, said two brigades were deployed at the Traibil [Turaybeel, Tirbil, Tarbiel, Trebil] border crossing with Jordan […]
Airstrikes Continue Against ISIL Terrorists
On Monday, U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported. Officials reported details of the strikes, noting that assessments of results are based on initial reports. Airstrikes in Syria Remotely piloted and fighter aircraft […]
Petrel Resources "Incurs no Costs" in Iraq
By John Lee. In its Interim Statement for period ended 30 June 2015, Irish-based Petrel Resources issued the following update on its operations in Iraq: "Our third theatre of activities is Iraq, where we have had a presence for 18 years. The original Petrel interest was in Block 6 in the Western Desert between Baghdad […]
Iran-Iraq Joint Summit on Border Patrols
By John Lee. According to a report from Mehr News Agency, the fifth joint summit on border patrolling of Iran’s west provinces and Iraqi border cities has begun in Mehran, Iran, with the presence of the Commander of the Iranian Border Guard Units General, Ghasem Rezaei [Qasem Rezaee] (pictured). The summit will review the security […]