Will Iraqi Kurdistan Ever Get New Constitution?
By Alaa Latif. 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. Fighting About Religion and Power: Will Iraqi Kurdistan Ever Get It's New Constitution? Iraqi Kurdistan is now working on re-drafting its Constitution. It would define the region […]
Standard Chartered Appoints New Iraq CEO
By John Lee. Standard Chartered Bank has appointed Andreas Meletiou as its Chief Executive Officer for Iraq. Meletiou will split his time between Dubai and Baghdad, and has replaced Gavin Wishart, who has reportedly left the bank. The new CEO previously worked on developing the bank's strategy for entering Iraq in 2013, and was regional […]
KRG to set up Foreign Loans Committee
Kurdistan Region Council of Ministers on Tuesday held its ordinary meeting, chaired by Prime Minister, Nechirvan Barzani and attended by Deputy Prime Minister, Qubad Talabani. Prime Minister Barzani shed light on the latest developments in the relations between Kurdistan Regional Government, KRG, and the Iraqi Federal Government, highlighting the differences between the two sides over […]
Belarus, Iraq in Talks on Healthcare
By John Lee. The Ambassador of Belarus to Turkey and Iraq (non-resident), Andrei Savinykh, is paying a working visit to Baghdad this week. On 1 July he held meetings with Iraqi Minister of Health, Adila Hammoud Hussein, and with the Iraqi Foreign Ministry. During the meeting with Adila Hammoud Hussein the parties discussed the possibility […]
Iraq Bans Poultry Imports from US
By John Lee. Iraq has joined more than 30 countries in banning poultry imports from the United States because of bird flu, following the worst outbreak of avian influenza in US history. Bloomberg reports that the ban, announced on Wednesday, is to last for three months. Figures from the US Department of Agriculture (USDA) show […]
Coalition Continues to Target ISIL
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, which took place between 8 a.m. Tuesday and 8 a.m. Wednesday, local time, noting that assessments of results […]
Iraq "Not Making Sufficient Progress" on Money Laundering
By John Lee. As part of its on-going review of compliance with anti-money-laundering (AML) and countering the financing of terrorism (CFT) standards, the Financial Action Task Force (FATF) has singled out Iraq as a "jurisdiction not making sufficient progress." In a statement, the FATF has said: "Despite Iraq’s high-level political commitment to work with the FATF and MENAFATF […]
Currency Auction Results, 2nd July
By John Lee. The Central Bank of Iraq (CBI) has reported that 26 banks and 6 remittance companies took part in its currency auction on Thursday. A total of $260,621,299 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Iraq Oil Exports hit New Record
June oil exports from Iraq hit a record average of 3.187 million bpd, up from 3.145 million bpd in May. An average of 3.02 million bpd was exported from the Southern terminals (up from 2.69 million bpd in May), with exports via Ceyhan averaging just 164,700 bpd (down from 451,000 bpd in May). Southern exports were helped by the splitting of output […]
Lockheed Martin Awarded $119m F-16 Contract
By John Lee. Lockheed Martin has been awarded an $119,200,000 cost-plus-fixed-fee, undefinitized contract action for contractor logistics support (CLS) for the Iraq F-16 program. The work will be performed at Balad Air Base, Iraq, with ongoing CLS support activity in Tucson, Arizona; Fort Worth, Texas; and Greenville, South Carolina, and is expected to be complete by […]
Iraq to Issue Bonds in August
By John Lee. According to a report from TR Zawya, Iraq is planning to issue a total of $11 billion (13 trillion Iraqi dinars) in bonds in the next two months to cover the state budget deficit. Acting central bank governor Ali Al-Allaq told the news agency that the government would issue around $5 billion in domestic bonds […]
Inherent Resolve Airstrikes Target IS
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, which took place between 8 a.m. Monday and 8 a.m. Tuesday, local time, noting that assessments of results […]