Turkey Denies Buying Oil from ISIL
By John Lee. The Turkish Energy Minister Taner Yildiz (pictured) has denied buying crude oil from The Islamic State of Iraq and the Levant (ISIL), pointing out that Turkey is a state of law. According to a report from KUNA, the Minister strongly denied that Turkey's oil refineries processed crude oil coming from ISIL, saying […]
KRG Seeks Mine Clearance Tools
By Patrick M Schmidt. A Kurdistan Regional Government (KRG) official has announced that security forces need more advanced equipment to clear minefields in areas once controlled by the Islamic State (IS). He also suggested there was a need for machines that can detect mines and also dispose of buried ordinance. “During the short time that […]
Germany Approves Arms Sale to KRG
By Patrick M Schmidt. At a press conference held by German Defense Minister Ursula Von Der Leyen (pictured) and Foreign Minister Frank-Walter Steinmeier, the German government officially announced the supply of arms to the Kurdish Regional Government (KRG). The deal includes 8,000 G36 assault rifles, 8,000 G3 rifles, ammunition, 200 Panzerfaust anti-tank systems, thirty MILAN […]
Amnesty International Reveals Evidence of Ethnic Cleansing
From Amnesty International. Fresh evidence uncovered by Amnesty International indicates that members of the armed group calling itself the Islamic State (IS) have launched a systematic campaign of ethnic cleansing in northern Iraq, carrying out war crimes, including mass summary killings and abductions, against ethnic and religious minorities. A new briefing, Ethnic cleansing on historic […]
Currency Auction Results, 2nd Sept
By John Lee. The Central Bank of Iraq (CBI) has reported that 15 banks took part in its currency auction on Tuesday. A total of $180,206,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Gazprom Starts Oil Deliveries from Badra
By John Lee. Russia's Gazprom Neft, the operator of the Badra oil field (pictured) in Iraq, has announced that first oil from the field is now being delivered to Iraq’s main pipeline system for transfer to the export terminal in Basra, on the Persian Gulf. Current deliveries from Badra to the pipeline stand at over […]
New JV Provides Consultancy to Babil Governorate
By John Lee. Mantid International has formed a joint venture with architecture and engineering consulting firms Laceco and Allen & Shariff Consortio International to provide full service consulting services to the Governorate of Babil. The MLA joint venture was awarded the contract for $10.6 million, renewable for four years. The team will be responsible for […]
UK Firm Supplies Security Gates
By John Lee. Frontier Pitts, a British manufacturer of security gates and barriers, has recently completed the supply and installation of anti-terrorist security equipment at the Rumaila oilfield in Southern Iraq. The project consisted of 25 Terra Manual Barriers and 18 Terra Sliding Cantilevered Gates, which have been successfully impact tested in accordance with the […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 28th August 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,516 (-0.4%)/ $1,638 (+0.5%) (weekly change) (-18.7% and -17.5% YTD change, respectively). The number of week traded shares […]
Casualty Figures for August 2014
According to casualty figures released on Monday by UNAMI, a total of at least 1,420 Iraqis were killed and another 1,370 were injured in acts of terrorism and violence in August*. The number of civilians killed was 1,265 (including 77 civilian police), while the number of civilians injured was 1,198 (including 105 civilian police). A […]
Video: US Jets Target IS Positions
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The US military has attacked Islamic State positions in the besieged northern Iraqi town of Amerli and airdropped humanitarian aid to civilians trapped there, the Pentagon has said. US aircraft delivered over a […]
Currency Auction Results, 1st Sept
By John Lee. The Central Bank of Iraq (CBI) has reported that 16 banks took part in its currency auction on Monday. A total of $187,306,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)