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 […]
'Oddballs' Fight for Cache of Seized Iraqi Dinars
By John Lee. A report from Canada's National Post sheds some light on the seizure of more than $7-million worth of Iraqi dinars on the US-Canadian border. According to the article: There is a strange, underground allure to Iraqi money, particularly in the United States, where a mélange of conspiracy theory, shaky geopolitical ideas and […]
Coalition Forces Continue 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 on Sunday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack and fighter […]
Nearly 1000 Iraqis Killed in December
According to casualty figures released today by UNAMI, a total of 980 Iraqis were killed and another 1,244 were injured in acts of terrorism, violence and armed conflict in December 2015*. The number of civilians killed was 506 (including 18 federal police, Sahwa civil defence, Personal Security Details, facilities protection police and fire department), and […]
Currency Auction Results, 3rd Jan
By John Lee. The Central Bank of Iraq (CBI) has reported that 26 banks and 19 remittance companies took part in its currency auction on Sunday. A total of $153,336,000 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Air Strikes Decimate ISIS Oil Production
By Simon Kent. When Coalition aircraft began targeting ISIS oil operations last year, they did so under strict rules of engagement that were designed to minimize civilian casualties: many of those transporting the oil were deemed civilians trying to earn a living under ISIS rule. Tactics in the early days of the Tidal Wave II […]
Turkish Forces Still in Iraq
By Simon Kent. Iraqi PM Haider al Abadi has said that remaining Turkish forces deployed with the Kurdish Peshmerga as trainers and advisers must leave Iraq immediately. The remarks come as it becomes clear that the Turkish forces have not been withdrawn, as promised by the Turkish government. Instead, the small contingent has been moved […]
Stock Market ends year Down 22%
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 27th Dec 2015). Note: ISX will be closed during December 28, 2015 - January 2, 2016 due to the end-of-year closing operations. The next session will be held on Sunday, January 3, 2016. Please click here to download a table of listed companies […]