Royal Jordanian announces Flights to Najaf
Royal Jordanian is to start a direct regular service between Amman and Najaf, on 9th July. This will increase the number of Iraqi destinations on the RJ network to six, including Mosul,which has been suspended since June 2014. RJ President and CEO, Captain Haitham Misto (pictured), said that the service between Najaf and Amman will […]
Russian Wheat Cheapest in latest Tender
By John Lee. European traders said on Monday that Russian wheat was offered lowest at $231.00 a tonne c&f free out in the tender from Iraq's state grains board to buy at least 50,000 tonnes of hard wheat for shipment between 15th August and 13th September and delivery between 14th September and 28th October. According to […]
Airstrikes Hit ISIL Targets
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. Saturday and 8 a.m. Sunday, local time, noting that assessments of results […]
Video: US War Vets join Kurds against IS
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. US soldiers with combat experience from the occupation of Iraq are joining Kurdish units holding off armed group. Al Jazeera's Zeina Khodr reports from southern Kirkuk:
Iraq's Ambitious Wheat Target
By John Lee. The general manager of the Grain Board of Iraq, Saad al Hamdinee, has reportedly told a conference in London that Iraq is expected to produce 3.5 million tonnes of wheat this year. According to a report from Reuters, he said this was in accordance to our plans put in place over the […]
PM Barzani Praises Role of Private Sector
Kurdistan Region Prime Minister Nechirvan Barzani hailed the private sector for its effective contributions to the Kurdistan Region economy since approval of the Investment Law in 2004. Prime Minister Barzani expressed satisfaction with the expansion of investment in the sectors of agriculture and industry. His statements were made during last week’s visit to Dohuk Governorate, […]
Baghdad Approves 25 Projects so far this year
By John Lee. The chairman of the Baghdad Investment Commission (BIC), Shaker Al Zamli [Shakir al-Zamil, Shaker Shabib] (pictured), has told Iraq’s Arabic language daily Al Sabah that Baghdad governorate has awarded licences for 25 projects in housing, tourism, industry, health, trade and farming so far this year. One of the projects involves the construction […]
Iraqi Workers Protest for Wage Payment
By Adnan Abu Zeed for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Since February, mechanical engineer Faiz al-Sultani has gone without a salary. The government textile plant in Hilla has been unable to pay his wages due to Iraq's fiscal deficit. Dozens of textile and fabric […]
Oil and the ISX: Cause and Effect?
By Mark DeWeaver. Given the importance of oil for Iraq’s economy, you might think that the price of this commodity would be a key driver for Iraqi stocks. Strangely, this has not always been the case—most notably during the global financial crisis. From July to December, 2008, even as the oil price fell by a […]
Zain Iraq to start Trading soon on ISX
By John Lee. Reuters reports that Zain Iraq will list on the Baghdad Stock Exchange (ISX) on 23rd June. Under the terms of its 15-year licence awarded in 2007, the company, along with Iraq's two other mobile phone firms, was required to float at least a quarter of its shares on the ISX by August […]
US Man Admits Iraq Scam
By John Lee. A US man has pleaded guilty in a $175,000 fraud involving fake business opportunities in Iraq. Joseph T. Morris, aged 52, pleaded guilty on Tuesday to one count of wire fraud, and according to a report from Associated Press faces up to 20 years in prison. Morris and two others set up […]
Norway to open Office in Kurdistan
At a meeting on Friday between Minister Falah Mustafa, Head of KRG Foreign Relations, and Børge Brende, Minister of Foreign Affairs of Norway, Minister Brende announced that Norway will soon open its representation office in the Kurdistan Region. During the meeting, which was attended by Iraq’s Ambassador to Norway Sundus Omer, Norwegian Ambassador to Jordan […]