Video: IS Not a Repeat of Gulf, Iraq Wars
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. US Secretary of State John Kerry tells the Senate Foreign Relations Committee that US military action to counter Islamic State militants in Iraq and Syria is not a repeat of the Gulf or Iraq […]
Currency Auction Results, 18th Sept
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 $189,741,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Petroceltic Switches Focus to Dinarta
By John Lee. In its interim results on Wednesday, Petroceltic gave an update on its operations in Iraqi Kurdistan. The company, along with Hess (as operator) has been active in the Kurdistan Region since 2011 when the Shakrok and Dinarta blocks were awarded with Petroceltic holding a 16% interest in each. Activity for the first […]
Currency Auction Results, 17th Sept
By John Lee. The Central Bank of Iraq (CBI) has reported that 16 banks took part in its currency auction on Wednesday. A total of $218,422,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Weekly Security Update, 09 – 15 September 2014
By Anne-Laure Barbosa at Constellis Consulting The formation of the new Iraqi government last week led to the swift mobilisation of several Western powers pledging support to the Kurds and Iraqi forces. On 15 September, leaders from thirty countries promised to help fight the Islamic State militants in the north of Iraq, following an international meeting […]
Parliament Rejects Defense, Interior Ministry Candidates
By John Lee. The Iraqi parliament has rejected the two candidates proposed by Prime Minister Haidar al-Abadi for the posts of Interior Minister and Defense Minister. In what Bloomberg describes as a setback for efforts to unite the country against the Islamic State, moderate Sunni Jaber al-Jaberi has been rejected as defense minister, and Riyad […]
US Expands Airstrikes on IS
By John Lee. American aircraft have reportedly bombed Islamic State (ISIS, ISIL) fighters near Baghdad on Tuesday. US Central Command said the airstrike was "the first taken as part of our expanded efforts beyond protecting our own people and humanitarian missions". A spokesman said it was "an important strike" in Sadr al-Yusufiya, 25km (15 miles) […]
$69m Contract for Hellfire Missiles
By John Lee. Hellfire Systems LLC, of Orlando, Florida, has been awarded a $68,721,521 [80 billion Iraqi dinar] modification (P00104) to firm-fixed-price, foreign military sales contract W31P4Q-11-C-0242 to acquire 1,361 Hellfire II tactical missiles in containers and air-to ground missiles: model AGM-114R, AGM-114R-3, AGM-114P-4A, TGM M36E7, and ATM-114Q-6. The countries involved in this foreign military […]
Iran to Increase Cement Exports to Iraq
By John Lee. Iraq has agreed to increase cement imports from Iran. Jahanbakhsh Sanjabi Shirazi, the head of Iran-Iraq Joint Chamber of Commerce, told Fars News Agency: "As of September 1, each (Iranian) company can export 15,000t of cement into the neighbouring country from Shalamcheh, Chazzabeh and Mehran border terminals." He noted that the new […]
World Economic Forum visits KRG
Mr Miroslav Dosek, Head of Middle East and North Africa section of the World Economic Forum (WEF), visited the KRG Department of Foreign Relations to discuss economic developments in Kurdistan as well as the current security and humanitarian situation. Mr Dosek said, “The achievements and the success of the Kurdistan Region are very much lauded […]
UN calls for more Shelter, Protection
After concluding a three-day visit to Iraq, UN Humanitarian Chief Valerie Amos (pictured) said today that additional support is needed ahead of the long winter months for people who have been displaced by fighting, and for the communities supporting them. Iraq is facing an escalating emergency with up to 1.8 million Iraqis displaced since January. […]
$1.8m Support for Parliament, Civil Society
As part of its continued support to Iraq’s parliament, the United Nations Development Programme (UNDP) today signed with the Council of Representatives in Baghdad a project of US$1,797,999 funded by the Government of the Kingdom of Sweden. This initiative aims to strengthen the legislative and oversight role of the parliament, which now begins its third […]