Afren Shares Rally on Deferred Payment
By John Lee. Shares in Afren plc were trading 20 percent higher on Monday after the company announced that it has negotiated a deferral of the US$50m amortisation payment due on 31 January 2015 until 31 March 2015. The agreement was made with the lenders of the US$300m Ebok debt facility. In addition, the Board […]
Oil Exports Reach 2.6m bpd in Feb
By John Lee. Reuters reports that Iraq's oil exports rose in February to an average 2.597 million barrels per day, up from 2.535 million bpd in January. Iraq's southern terminals reached 2.293 million bpd, slightly down on the previous month due to bad weather, while exports from the north via the Kurdistan pipeline more than […]
United Kalavyrta Unloads in Israel
By John Lee. The tanker which was blocked for months by a Baghdad legal challenge from unloading its 1 million barrels of Kurdish crude oil in Texas, has reportedly delivered its cargo to Israel. The United Kalavyrta [United Kalavrvta, United Kalvrvta] (pictured) spent several months off the coast of Texas after Baghdad tried to have […]
Mott MacDonald, Khudairi to Deliver Iraqi Projects
Mott MacDonald has joined up with Khudairi Group to deliver oil and gas projects in Iraq. The move combines the consultancy’s full range of engineering and procurement technical support services with Khudairi Group’s procurement, inspection, expediting and construction management services. Albert Allan, managing director of Mott MacDonald’s oil and gas business, said: “I am delighted […]
Video: Iraqi National Museum Reopens
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq's Prime Minister Haider al-Abadi promised to safeguard the country's heritage, especially after ISIL destroyed ancient statues in Mosul. Al Jazeera's Jane Arraf reports from Baghdad.
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 26th February 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,058 (-10.6%) / $1,111 (-10.6%) (weekly change) ) (-24.0% and -25.1% YTD change, respectively). The number of week […]
Over 1,100 Iraqis Killed in February
According to casualty figures released by UNAMI, a total of 1,103 Iraqis were killed and another 2,280 were wounded in acts of terrorism and violence in February*. The number of civilians killed was 611 (Including 30 civilian police), and the number of civilians injured was 1,353 (including 29 civilian police). A further 492 members of […]
Japan Agrees Loan for Power Plant Refit
By John Lee. The Japan International Cooperation Agency (JICA) has agreed a loan for the rehabilitation of the fourth unit at the Al Hartha Thermal Power Plant in Basra; the amount of the loan as not been disclosed. The plant was originally constructed by a Japanese company in the late 1970s, and consists of four […]
Bogus University Grads Clog Job Market
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. Meager employment opportunities have led Iraqi university graduates holding doctoral and master's degrees to despair, as they pursue fruitless searches for jobs in government ministries and the private sector. In Babil province Feb. 3, […]
UN Worried about Anbar Refugees
The United Nations Deputy Special Representative of the Secretary General, Lise Grande, along with Neill Wright, the country’s UN refugee agency (UNHCR) representative, today visited Iraqi families recently displaced from Al Baghdadi district in the western province of Anbar. “The situation facing these families is very worrying. They have been under siege for days and […]
Traffic Snarls, Violence Accompany Motorcades
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. On Feb. 18, the bodyguards of national security adviser Faleh al-Fayad beat up a group of journalists and media workers in the Al-Nahrain Center for Strategic Studies when they refused to leave the conference Fayad […]
Iran to Open Medical Univ. in Iraq
By John Lee. Iran’s Minister of Health, Seyed Hassan Hashemi, has announced the opening of a branch of the University of Medical Sciences in Iraq. Following a meeting with Iraq’s Minister of Education, Hasemi said that several deals have been made in the fields of pharmaceuticals, medical facilities, investment in the construction of hospitals and health […]