GKP Shares Rocket on Possible Takeover
By John Lee. Shares in Gulf Keystone Petroleum (GKP), operator of the Shaikan field (pictured) in the Kurdistan Region of Iraq, jumped 65 percent on Wednesday after the company announced that it has recently engaged in discussions with a number of parties in relation to possible asset transactions or a sale of the company. GKP […]
Slovakian Diplomat to head up UN Iraq Mission
Secretary-General Appoints Ján Kubiš of Slovakia as His Special Representative for Iraq United Nations Secretary-General Ban Ki-moon today announced the appointment of Ján Kubiš (pictured) of Slovakia as his Special Representative for Iraq and Head of the United Nations Assistance Mission for Iraq (UNAMI). Mr. Kubiš succeeds Nickolay Mladenov of Bulgaria to whom the Secretary-General […]
Pentagon Expedites $17.9m Equipment for Iraq
The Defense Department has expedited $17.9 million in equipment and supplies –- some which have already been delivered –- to the Iraqi government, Pentagon spokesman Army Col. Steve Warren told reporters on Tuesday. Warren provided a general update on equipment and supplies authorized for delivery to the Iraqis. “This was a $17.9 million [Foreign Military […]
Turkey Agrees Loan for KRG
By John Lee. Turkey has agreed to provide a $500-million [600 billion Iraqi dinar] loan to the Kurdistan Regional Government (KRG) to help pay the wages of state officials. According to a report from Daily Sabah, the loan will be repaid by either being set off from Turkey's crude oil debts or being repaid directly […]
PM Barzani "Fully Committed to Baghdad Agreement"
Kurdistan Region Prime Minister, Nechirvan Barzani told the press that Kurdistan Regional Government is committed to the agreement reached between Erbil and Baghdad last December on oil export and Kurdistan Region's share in the 2015 federal budget. In a meeting held yesterday with representatives of media outlets in Kurdistan Region, Prime Minister Barzani highlighted the […]
The Importance of Sunni Unity in Iraq
By Mustafa al Kadhimi for Al Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the opinions of Iraq Business News. Many Iraqi politicians do not hide their concerns and skepticism regarding moves made by Sunni political and tribal groups — whether in the region or Washington — to ensure […]
Iraq gets First Female Mayor
By John Lee. Zekra Al Wash [Thikra Alwash] (pictured), a civil engineer and director general of the Ministry of Higher Education, has been named as the new mayor of Baghdad. According to a report from AFP, this makes her the first woman to be given such a post in the whole country. Al Wash replaces […]
Iran Exports $6bn Eng. Services to Iraq
By John Lee. The Head of Tehran Chamber of Commerce, Yahya Al-e Es'haq [Yahya Ale-Eshaq] (pictured), has said that Iran exported technical and engineering services valued at almost $6 billion (7.2 trillion Iraqi dinars) to Iraq in the first eleven months of the current Iranian calendar year (March 21, 2014-February 19, 2015). Fars News Agency […]
Iraq Boosts Lucky Cement Results
By John Lee. Pakistan's Lucky Cement has reported progress at its grinding unit in Iraq. Analyst Nabeel Khursheed at Topline Securities commented that operations from Iraq contributed net earnings of Rs323m (eps Re1) to Lucky’s consolidated bottom-line. (Source: DAWN.COM) (Picture: Muhammad Ali Tabba, CEO of Lucky Cement)
British Charity Opens Clinic for Refugees
British Charity Opens Medical Clinic for Iraqi Refugees in Najaf The British-Iraqi charity, the AMAR International Charitable Foundation, has opened a clinic in the Iraqi city of Najaf to give medical assistance to the 70,000 refugees who fled to the region from the Islamic State (ISIL/Daesh). The majority of the Internally Displaced People (IDPs) are […]
Rights Violations of "Increasingly Sectarian Nature"
A United Nations report released this week details widespread human rights violations of an increasingly sectarian nature in Iraq, as well as a deterioration of the rule of law in large parts of the embattled country. The report, produced jointly by the UN Assistance Mission for Iraq (UNAMI) and the Office of the UN High […]
Weekly Security Update, 17 - 23 February 2015
National Overview The United States offers April date for Mosul offensive as use of foreign military hardware is increased across Iraq’s western battle zones. Announced to the international press on Thursday 20 February (and confirming details reported by EI in December 2014), the United States has committed to training a joint Arab-Kurdish force, including divisions […]