DNO Completes $400m Bond Placement
DNO ASA, the Norwegian oil and gas operator, has completed the placement of USD 400 million of new, five-year senior unsecured bonds with a coupon rate of 8.75 percent and an issue price of 87.5 percent of par value. The bond placement received strong investor demand across international markets and its combination of a fixed […]
Minister Orders Cheaper Internet Access
By John Lee. The Minister of Communications, Hassan Rashid [Kazem Hassan Rashed] (pictured), has reportedly ordered a reduction in the cost of internet services, to make them more accessible to all segments of society. Shafaaq News also report that the Ministry of Communications has completed an optical fibre project to provide high-speed internet access in Babil […]
Airstrikes Destroy ISIL Oil Infrastructure
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. Sunday and 8 a.m. Monday, local time, noting that assessments of results […]
Video: Shiite Milita fights IS in Baiji
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraqi fighters from the Shiite popular mobilisation unit were still fighting jihadists from the Islamic state on the outskirts of Iraq's Baiji oil refinery, about 200 kilometres north of Baghdad, on Sunday.
KRG Rep to France begins Mission
The newly appointed KRG Representative to France, Mr. Dara Bakir Salih, has begun his mission. Minister Falah Mustafa Bakir, Head of the Department of Foreign Relations, arrived in Paris today to oversee the handover of the Representation from Ms. Khaman Zirar, the former Representative, to Mr. Salih, the new Representative. During the handover ceremony, Minister […]
KRG FM Receives Belgian Deputy PM
In the meeting between Minister Falah Mustafa, Head of the KRG Foreign Relations, and Deputy Prime Minister and Minister of Foreign Affairs of Belgium Didier Reynders, military as well as humanitarian aid for the Kurdistan Region were at top of the list of priorities discussed. Minister Mustafa welcomed Minister Reynders in his first visit to […]
Currency Auction Results, 7th June
By John Lee. The Central Bank of Iraq (CBI) has reported that 16 banks and 4 remittance companies took part in its currency auction on Sunday. A total of $112,250,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
New Army to Defend Oil and Electricity Facilities
By John Lee. Iraq is committing 27,000 security personnel to protect its oil and energy infrastructue from attacks by the Islamic State (IS, ISIS, ISIL). Oil Minister Adel Abdel Mahdi (pictured) announced the new force following the latest round of meeting with the Organisation of Petroleum Exporting Countries (OPEC). According to a report from The […]
More UK Military Trainers for Iraq
By John Lee. The United Kingdom is to send an extra 125 military trainers to Iraq to help in the battle against the Islamic State (IS, ISIS, ISIL). Prime Minister David Cameron made the announcement at the G7 summit in Germany, ahead of a meeting with Iraqi leader Haidera al-Abadi, scheduled for Monday. He said: […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 4th June 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,358 / $1,325 (+2.3%) (weekly change) (-2.5% and -10.6% YTD change, respectively). The number of week traded shares […]
Iraq gets $833m IMF Emergency Funding
An International Monetary Fund (IMF) mission led by Carlo Sdralevich visited Amman from May 27 – June 4, 2015 to discuss with the Iraqi authorities financial assistance to Iraq under the Rapid Financing Instrument (RFI). At the end of the visit, Mr. Sdralevich issued the following statement: “The mission has reached a staff-level agreement with […]
Latest Airstrikes Against ISIL
U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant (ISIS, ISIL, IS) terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported today. Officials reported details of the latest strikes, which took place between 8 a.m. Saturday and 8 a.m. Sunday, local time, noting […]