Weekly Security Update, 20 - 26 January 2015
National Overview UAE airlines suspend flights to Baghdad international airport (BIAP) following small arms fire attack on passenger aircraft. At approximately 16:40 on Monday 26 January, at least four bullets were recorded to have struck a Fly Dubai Boeing 737-800 as it arrived on the runway at Baghdad airport, causing superficial damage to the plane’s […]
Shell Signs $11bn Petrochemical Deal
By John Lee. Shell has reportedly signed a deal with Iraq worth $11 billion (12.8 trillion Iraqi dinars) to build a petrochemicals plant in Basra. On Wednesday, Industry Minister Nasser al-Esawi [Nasser al-Issawi] told a press conference that the Nibras complex would make Iraq the largest petrochemical producer in the Middle East. The news comes […]
Disputed Kurdish Tanker Leaves US
By John Lee. The tanker of oil from Iraqi Kurdistan, which had been waiting off the US coast for six months due to legal proceedings, is reported to have finally set sail on Tuesday. According to a report from BasNews, the United Kalavyrta [United Kalavrta] (pictured) is now headed for the Straits of Gibraltar, following […]
Investors may be sought for Grand Faw Port
By John Lee. Iraqi Transport Minister Baqr Jabr Al-Zubeidi (pictured) has said that Iraq is considering seeking foreign investors to fund the multi-billion-dollar Grand Faw [Grand Fao] port project. Emirates 24/7 quotes the Minister as saying that the transport ministry is unable to execute the $6-billion (7-trillion-Iraqi-dinar) project, and is considering awarding the project "on […]
Yazidi Girls Tell of Escape from IS
By Fazel Hawramy for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. For Ibtisam, a 15-year-old Yazidi girl, the six months after the Islamic State (IS) attacked her hometown could not have been crueler. Her mother and three younger sisters were taken from the village of Tel […]
Currency Auction Results, 28th Jan
By John Lee. The Central Bank of Iraq (CBI) has reported that 10 banks took part in its currency auction on Wednesday. A total of $40,151,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Is New National Guard the Key to Unifying Iraq?
By Mushreq Abbas for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A wide range of armed forces beholden to different authorities outside the defense and interior ministries are spread across Iraq. This reality was not spawned by the occupation of Mosul by the Islamic State (IS) […]
Afren Shares Crash on Liquidity Fears
By John Lee. Shares in Afren plc have crashed by 67 percent by lunchtime on Tuesday, following an announcement from the company regarding its financing. The full text of the announcement follows: Afren plc ("Afren" or the "Company") provides an update regarding the review of its capital structure, liquidity and funding requirements announced on 20 […]
Flights Suspended After Airplane Shooting
By John Lee. Several airlines have suspended flights to Baghdad on Tuesday after bullets hit an airplane as it was landing at Baghdad International Airport. Reuters reports that two passengers were slightly injured when three or four bullets hit the body of a flydubai plane carrying 154 passengers on Monday evening. It was not known […]
Nina Iraq: Goodbye 2014, Hello 2015
By Samar Rassam-Whitticombe, CEO of Somer Industrial Projects (SIP). This is an extract from an article originally published by Nina Iraq, and is reproduced here with permission. As we wave goodbye to 2014, I am reminded of all the superb achievements of the last 12 months. The ever-changing shifts in the international socio-political scene have […]
Egypt Forgives Iraqi Debt in Exchange for Oil
By Ayah Aman for Al Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the opinions of Iraq Business News. Iraqi Prime Minister Haider al-Abadi’s visit to Cairo on Jan. 11 included several political, military and economic agreements, and marked a new chapter in Egypt-Iraq relations. These agreements also contributed in […]
Video: Yazidis Hunker Down for Winter
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Last summer, tens of thousands of Yazidis faced searing heat as they fled a murderous jihadist onslaught in northern Iraq, but many survivors are now shivering in the snow: