New Project to Protect Iraqi Cultural Heritage
New UNESCO project launched in Baghdad to protect Iraqi cultural heritage "Today, we show our solidarity in the face of unprecedented cultural cleansing, cultural eradication and cultural looting ... And we pledge our commitment to do everything we can to halt this cultural cleansing”, said UNESCO Director-General, Irina Bokova, at the launch of the new […]
Weekly Security Update: 24 - 30 March 2015
National Overview US involvement in Tikrit air campaign sparks discord within Shia PMU factions, as regional issues overshadow ongoing anti-ISIS offensive. Since Thursday 26 March, key players in Iraq’s Popular Mobilization Unit (PMU) alliance, including the Iranian-backed Badr Organization, Asaib al-Haq and Kitaib Hezbollah are understood to have withdrawn from the Tikrit theatre in protest […]
Iraq Owes Oil Companies $20bn
By John Lee. The Deputy Minister for gas refineries at the Ministry of Oil, Fayaz Hassan, has told reporters that Iraq owes almost $20 billion (24 trillion Iraqi dinars) to foreign oil companies working in the country. BasNews quotes him as saying that the Iraqi Oil Ministry has met with the Finance Ministry and Central […]
Textron Wins $52m Drone Contract
By John Lee. Maryland-based Textron Systems has been awarded a $51,762,329 conract for performance based logistics and operational support for Shadow tactical unmanned aircraft systems for the Army and Marine Corps. The Work will be performed in Maryland, Afghanistan, and Iraq, and the estimated completion date is 31st October, 2015. (Source: US Dept of Defense)
OFFTEC Opens First Branch in Iraq
Jordanian-based OFFTEC, a subsidiary of OFFTEC Holding Group, announced the opening of its first branch in Iraq. Located in the city of Erbil, the new branch further builds on OFFTEC 's growing network, which encompasses multiple branches across Jordan, Palestine and Sudan, all of which specialize in the provision of innovative business and technology services […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 26th March 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,144 / $1,200 (-5.9%) (weekly change) ) (-17.9% and -19.0% YTD change, respectively). The number of week traded […]
New School for Pilots in Baghdad
Airways Aviation is opening its latest Aviation Theory School in Baghdad later this month, paving the way for aspiring Iraqi pilots to launch their flying careers. The new Iraqi school, equipped with modern teaching facilities including a flight simulator, is located in the education precinct close to the University of Baghdad and will offer several […]
Luxemburg Pledges Support to Kurdistan
On Saturday, the Head of KRG Foreign Relations, Minister Falah Mustafa, received Mr. Jean Asselborn, Minister of Foreign and European Affairs of Luxemburg and his accompanying delegation to discuss strengthening of bilateral relations as well as developments in the region. Minister Mustafa welcomed Minister Asselborn in his first visit to Kurdistan and expressed the desire […]
Imported Goods Crowd Out Local Production
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. Qasim al-Rubaie, a teacher from Babil province, told Al-Monitor in front of a grocery store, “You will not find any Iraqi grown vegetables and fruits. Instead you'll find imported goods from Jordan, […]
Contractor Pleads Guilty in Iraq Bribes Case
By John Lee. A man extradited from Iraq to the United States has pleaded guilty to conspiracy to commit wire fraud, and to two charges related to leaving the country after his arrest. Metin Atilan, who has dual Turkish and U.S. citizenship, was charged with conspiring to pay bribes and kickbacks to win a contract […]
Is the Shiite Revival Here?
By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. In the book "The Shia Revival: How Conflicts within Islam Will Shape the Future," Vali Nasr, an Iranian-American researcher on the crises in the Middle East, came to the conclusion in 2006 […]
3G Should Bolster Telco Revenues
By John Lee. A telecommunications analyst has said that the recent launch of 3G services in Iraq should stabilize the revenue and profit of Iraq’s mobile phone operators this year, following the difficulties caused by the war against the Islamic State (IS, ISIS, ISIL). Omar Maher of EFG Hermes told Reuters that 2016 could see high […]