Bribery Alleged in Czech Plane Deal
By John Lee. Iraqi politicians have reportedly made allegations of corruption relating to the sale of Czech military aircraft to Iraq. According to media sources, Iskandar Watoot, from the Iraqi parliament's security and defense committee, says corruption worth millions of dollars has accompanied the purchase of the L-159 subsonic combat planes, while Haitham al-Jubouri, a […]
Coalition Airstrikes Destroy Bomb Factory
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. “In the past 48 hours, coalition airstrikes hit five vehicle-borne [improvised explosive devices] and a factory producing these weapons in Ramadi,” said Army Lt. […]
Currency Auction Results, 15th July
By John Lee. The Central Bank of Iraq (CBI) has reported that 29 banks and 8 remittance companies took part in its currency auction on Wednesday. A total of $364,691,686 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Bell Textron Wins $56m Iraq Contract
By John Lee. Texas-based Bell Helicopter Textron has been awarded a $55,600,000 cost-plus-fixed-fee foreign military sales contract in Iraq. The firm will supply technical advice and maintenance and logistics support for maintenance and logistics for Bell aircraft. Work will be performed in Iraq with an estimated completion date of 7th August, 2016. According to a […]
Oil Export Stats for 2014
By John Lee. Iraq's oil exports in 2014 accounted for 95.5 percent of the country's total revenue from exports, according to statistics released by the Ministry of Planning's Central Bureau of Statistics. A total of 918 million barrels of oil were exported over the year, up 5.3 percent on the 872 million barrels shipped in […]
Iran Deal "a Catalyst for Regional Stability"
By John Lee. A spokesman for Iraqi Prime Minister Haider al-Abadi (pictured) has said that the nuclear deal announced on Tuesday between Iran and world powers will be "a catalyst for regional stability." Saad al-Hadithi told the Associated Press that it will lead to better unity in the fight against terrorism. But Hamid al-Mutlaq, an […]
Iraq Declares Thursday a Holiday
By John Lee. The Iraqi government has declared an official holiday on Thursday due to the continuing heatwave affecting the country. The Daily Mail reports that several provinces have reported temperatures above 50C (122F), causing particular difficulties for people who are fasting during the long daylight hours in the Muslim holy month of Ramadan. The Eid […]
Airstrikes Hit ISIL 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. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Airstrikes in Syria Bomber, fighter and remotely piloted […]
Electricity Crisis means Lights Out for Iraqis, Again
By Wassim Bassem for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Never-ending Electricity Crisis means Lights Out for Iraqis, Again Electricity generators have often saved Iraqis from summer temperatures that can reach 50 degrees Celsius (122 degrees Fahrenheit). Yet, they have also become a symbol […]
Without Curfew, Baghdad's a New City during Ramadan
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. Food, Family, No Sleep: Baghdad A New City During Ramadan, Thanks to End of Curfew For the first time in years locals in Iraq's capital city are getting to enjoy […]
Iran Starts $2.3bn Gas Pipeline to Iraq
By John Lee. Iran has reportedly started construction on a new gas pipeline to Iraq, which will feed two power plants near Baghdad. The line is an extension of Iran’s 6th cross-country gas pipeline, and will extend 590 kilometers and include five booster stations. The Managing director of Iran's Gas Engineering and Development Company, Alireza […]
Baghdad Cancels Ceyhan Oil Schedule
By John Lee. According to a report from Platts, 9 of the 14 tankers intending to load oil from Iraq's State Oil Marketing Organization (SOMO) at the Turkish port of Ceyhan in June, have had their orders cancelled and have left the area. The remaining five are also cancelled but are still waiting, as they […]