Currency Auction Results, 14th Jan
By John Lee. The Central Bank of Iraq (CBI) has reported that 19 banks took part in its currency auction on Wednesday. A total of $216,081,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Weekly Security Update, 06 - 12 January 2015
National Overview International support for Iraq’s counter-ISIS offensive saw a further rally in the wake of last week’s terrorist attacks in Paris, with EU nations Sweden and Finland joining regional allies in preparing to send direct military training and assistance to Iraq’s fragile national armed forces. Coming shortly after PM Abadi announced that it could […]
Egypt Requests 130,000 bpd Iraqi Oil
By John Lee. Oil Minister Dr. Adel Abdul Mahdi [Adel Abdel Mehdi] (pictured) has said that Egypt would like to purchase 4 million barrels of Iraqi oil per month, equivalent to about 130,000 bpd. The Minister, who is accompanying Prime Minister Haider al-Abadi on his visit to Egypt, added that talks on subject are still […]
Short Term Investment Essential for Long Term Benefit
By John Lee. Delivering the keynote speech to the Al-Kindi Society for Engineers forum -- The Role of Engineering during Iraq's Crisis -- in London at the weekend, Baroness Emma Nicholson of Winterbourne (pictured) emphasised that short term investment in Iraqi infrastructure was essential for the long term benefit of the country. Baroness Nicholson, who […]
ICRC: Greater Support Needed for IDPs
At the end of a six-day visit to Iraq, the president of the International Committee of the Red Cross (ICRC) vowed to scale up assistance to displaced people and the communities hosting them. President Peter Maurer witnessed the difficult conditions endured by people as a result of ongoing fighting, long periods of displacement, loss of […]
Germany Continues Support to KRI
Kurdistan Region Prime Minister, Nechirvan Barzani, has welcomed Germany’s Defence Minister, Ursula von der Leyen and her accompanying delegation in Erbil, which included a number of military and political officials, a number of members of the German Bundestag, German Ambassador to Iraq and the German Consul General to the Kurdistan Region. The German Defence Minister […]
Sweden to Strengthen Ties with Kurdistan
Sweden’s Minister for Foreign Affairs, Margot Wallstrom, received Minister Falah Mustafa, Head of the KRG Foreign Relations, on Monday to discuss bilateral ties and latest humanitarian and security developments in Kurdistan and the wider region. In welcoming Minister Mustafa and his accompanying delegation, Foreign Minister Wallstrom said, “We enjoy excellent relations with the Kurdistan Region […]
Currency Auction Results, 13th Jan
By John Lee. The Central Bank of Iraq (CBI) has reported that 9 banks took part in its currency auction on Tuesday. A total of $108,383,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Afren Slumps on Barda Rash Downgrade
By John Lee. Shares in Afren plc have fallen more than 20 percent on Monday morning, after the company provided the following update in relation to its sixty percent working interest in the Barda Rash field in the Kurdistan region of Iraq: An updated Competent Person's Report (CPR) of Barda Rash, carried out as part […]
Iraq Duty Free Posts Strong Growth
By John Lee. Iraq Duty Free has reported a 16 percent increase in sales in 2014, despite the security crisis that forced the operation’s closure between June and September. The company, which operates the duty free business at Baghdad International Airport, attributed the growth to "renovation of points of sales, increased retail space and modern […]
Iraq Reviews Oil Prices
By John Lee. Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra Light and Kirkuk crude grades for February. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced are relative to the Argus Sour Crude Index […]
UNICEF Iraq Distributes Winter Clothing
Bitterly cold winter weather in Iraq has compounded the dire situation facing more than one million children, as the country continues to suffer from widespread violence and displacement. Official estimates indicate that over 2.1 million people, over half of whom are children, are displaced across Iraq. The vast majority of the displaced have fled to […]