ISIL's Dehumanization of Women and Girls
Press Release from the Embassy of the United States: Just days after we saw the best of humanity when Malala Yousafzai and Kailash Satyarthi were awarded the Nobel Peace Prize, we again confront the worst of inhumanity in ISIL. No one needed a reminder of ISIL’s depravity and evil. But now we have the latest […]
Peshmerga: Iran set Ambushes for us
By Vager Saadullah for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iranian Peshmerga Chief: Iran set Ambushes for us The head of the Iranian peshmerga said his forces acted in self-defense during rare clashes with Iranian forces on Sept. 13, which resulted in deaths on […]
Currency Auction Results, 16th Oct
By John Lee. The Central Bank of Iraq (CBI) has reported that 16 banks took part in its currency auction on Thursday. A total of $189,284,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Time to Bite the Bullet
If Iraq didn't face enough challenges already, the slump in the price of crude oil is another unwelcome development for the new Abadi government to deal with. At a current price of $81.78, the benchmark West Texas Intermediate (WTI) crude is down nearly 25 percent from its June high, driven in part by a strong […]
GE’s to Provide Turbines to Iraq
GE (NYSE: GE) has signed a contract with ENKA to supply power generation equipment for a new 750-megawatt (MW) combined-cycle plant being developed by Qaiwan Group in Iraq. GE will provide four 9E gas turbines and one steam turbine for a new power plant in Sulaimaniyah to support the government’s goal of strengthening the electricity […]
$307m Bill for 3G Spectrum
By John Lee. Iraq is reportedly seeking $307 million [358 billion Iraqi dinars] from each of the country's three mobile phone operators for spectrum to run 3G (third-generation) services. According to Reuters, all three operators – Zain Iraq (owned by Kuwait's Zain), Asiacell (owned by Ooredoo) and Korek (Orange) – paid $1.25 billion each for so-called "technology-neutral" […]
DNO Increases Exports to Turkey
By John Lee. In a market update this morning, Norwegian oil and gas operator DNO said it is logging the 834 meter horizontal section of the recently drilled Tawke-28 well and plans to place the well on production by early November. The next horizontal well in the field development program, Tawke-27, will spud shortly thereafter. […]
UK to Fund Peshmerga Training
The UK has announced that it is funding state-of-the-art bomb disposal training to assist the Kurdistan Region of Iraq’s Peshmerga forces in their frontline battle against ISIL. This funding is for a four-week pilot course, delivered by a UK firm, which will initially train up to 18 students from the Peshmerga to counter Improvised Explosive […]
Video: Sunni Refugees Caught in Conflict
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Many who escaped fighting between army and ISIL say they are also targets of Shia armed groups who are destroying homes. Al Jazeera's Zeina Khodr reports now from Kirkuk.
Currency Auction Results, 15th Oct
By John Lee. The Central Bank of Iraq (CBI) has reported that 14 banks took part in its currency auction on Wednesday. A total of $203,311,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Afren Dismisses CEO, COO and Assoc Dirs
By John Lee. Afren announced today that Willkie Farr & Gallagher (UK) LLP (WFG) has completed its independent review into the receipt of unauthorised payments by members of management and senior employees. In connection with the conclusion of this review, the company has decided to terminate the employment and directorships of Osman Shahenshah and Shahid […]
Ericsson Still Bullish on Iraq
By John Lee. Tarek Saadi, President of Ericsson's North Middle East Region, has said his company remains bullish on Iraq despite the threat of terrorism. Speaking on the sidelines of a trade event, he said: “Iraq is one of the more important markets for Ericsson in the Middle East ... We still believe in the […]