Threat to Haditha Dam 'Contained'
By John Lee. The Financial Times reports that US forces, Iraqi government troops and their militia allies say they have cleared Islamist militants threatening the crucial Haditha dam (pictured) in Anbar province, in Washington’s first attack in direct support of Baghdad since the launch of US operations a month ago. Baghdad has controlled the dam […]
Revised Production Target for Rumaila
By John Lee. BP has reportedly finalised its revised contract for Iraq's giant Rumaila oilfield, cutting the final production target from 2.85 million barrels per day (bpd) to 2.1 million bpd. According to Reuters, officials from BP and Iraq's oil ministry signed the amendment to the existing contract in a closed-door meeting at Rumaila on […]
Halfaya Oil Targets Reduced
By John Lee. The Missan Oil Company has announced an agreement with the China National Petroleum Corporation (CNPC) to reduce the final production target for the Halfaya oilfield from 535.000 barrels per day (bpd) to 400.000 bpd. As a result, production will be extended from 20 years to 30 years. CNPC has a 37.5 percent […]
Video: President Maps the Road Forward
From CNN. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. CNN's Christiane Amanpour speaks with Iraqi President Fuad Masum [Fouad Massoum].
Fmr US Ambassador Suspected of Money Laundering
By John Lee. Bloomberg reports that A US probe into alleged money laundering by former Ambassador to Iraq, Zalmay Khalilzad (pictured), has led Austrian authorities to freeze a Vienna bank account linked to him. Khalilzad allegedly transferred $1.4 million to a bank account owned by his wife, Cheryl Benard, in Vienna. According to reports, the money […]
Currency Auction Results, 9th Sept
By John Lee. The Central Bank of Iraq (CBI) has reported that 19 banks took part in its currency auction on Monday. A total of $265,331,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Iran, Iraq to Establish Joint Bank
By John Lee. The Iraqi Embassy's commercial attache in Tehran, Shaker Rawaq al-Da'ami, has said that Baghdad and Tehran plan to establish a joint bank to ease monetary transactions between the countries. The two sides agreed to sign a Memorandum of Understating (MoU) in order to facilitate financial exchanges. Al-Da'ami also said trade and economic […]
Cleric Wrecking Karbala’s Tourism-Based Economy
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Extremists And Errant Cleric Wrecking Karbala’s Tourism-Based Economy The southern Iraqi city of Karbala makes a lot of its money from religious tourism; it is the site of some of […]
UNESCO Condemns Attack on journalist
Axel Plathe, Director of UNESCO Office for Iraq, condemned today the bombing that targeted the house of Iraqi reporter Maytham Al-Shibani in Diwaniyah, calling for more efficient measures to ensure the safety of media professionals in Iraq. “On behalf of UNESCO, I strongly condemn the recent attack that targeted Maytham Al-Shibani, and I call the […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 4th Septemner 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,539 (+1.5%)/ $1,660 (+1.3%) (weekly change) (-17.5% and -16.4% YTD change, respectively). The number of week traded shares […]
Video: Children face 'Education Emergency'
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. School buildings in Iraq are frequently the only ones large enough to shelter the influx of families fleeing the advance of the Islamic State:
Repairing Baiji Refinery to take more than a Year
By John Lee. The KRG's Minister of Natural Resources, Ashti Hawrami, has said repairs to the Baiji refinery will take more than a year, following attacks by militants of the Islamic State in June. According to the report from NINA, he also confirmed that shipment of oil through the pipeline linking Kirkuk and the Turkish […]