Video: Maliki gives up PM Job
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Nouri al-Maliki has in a television address announced his decision to step down as Iraq's prime minister and endorsed Haider al-Abadi as his successor. He said his decision was aimed at preserving the […]
Maliki Quits as PM in Favour of Abadi
By John Lee. Iraqi Prime Minister Nouri Maliki has finally bowed to pressure and stepped aside to make way for Haider al-Abadi [Haydar al-Abbadi], who has been asked by Iraq's president to form a government. Appearing on state TV flanked by Mr Abadi and other Shia politicians, Mr Maliki said: "I announce before you today, to […]
Urgent Appeal to Help Refugees
British Charity Makes Urgent Appeal to Help Refugees Fleeing Islamic State A British-run charity has launched an emergency appeal to help the many hundreds of thousands of people forced from their homes by the Islamic State (IS) fighters in Iraq. The AMAR International Charitable Foundation is one of the only organisations offering help to families […]
Video: Col. Tim Collins talks Iraq Strategy
From CNN. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Col. Tim Collins, Former British Army Commander, speaks with CNN's Hala Gorani about the chaos in Iraq:
CBI Currency Auction Results, 14th Aug
By John Lee. The Central Bank of Iraq (CBI) has reported that 18 banks took part in its currency auction on Thursday. A total of $244,818,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
ISIL's Financial Strength
By Patrick Schmidt. For a terrorist organization, the Islamic State of Iraq and the Levant (ISIL) follows relatively normal business practices. It may come as a surprise to those not familiar with the group, but the organization has published an annual report revealing its secrets to success and longevity. ISIL is thought to earn at […]
UN: Northern Iraq a Major Emergency
By John Lee. The United Nations have declared the highest level of emergency in northern Iraq, estimating that over a million people have been displaced in the aftermath of the June offensive by the Islamic State of Iraq and the Levant. Nicolay Mladenov, head of UNAMI (United Nations Assistance Mission: Iraq) has said that in […]
TAQA Adjusts Iraq Strategy
By John Lee. In an effort to improve cash flow, the Abu Dhabi National Energy Co. (TAQA) have ended acquisition plans for some projects in Iraq and India.Security does not appear to have been a factor in the company's decision regarding an Iraq based project. However, the company are taking some precautions with ongoing oil […]
Maliki Pledges Peaceful Fight to Retain PM Title
By John Lee. It's something many academics and Maliki observers have long feared: that if cornered, Maliki would use loyalist Iraqi forces, in particular the Iraqi Special Operations Forces, to hold onto power. Instead, The Wall Street Journal have reported that Maliki has pledged to pursue his fight to retain the top spot through the courts, […]
Yazidi Evacuation Suspended
By Patrick Schmidt. Following the arrival of additional American military advisors to Iraq yesterday, the Defense Department reported that some of those troops had traveled to Sinjar Mountain. After almost a week of airstrikes by American aircraft and a simultaneous offensive by Kurdish security forces, thousands Yazidis who were trapped on the mountain can now […]
ISIL Controls Vital Agricultural Resources
By Patrick Schmidt. While the Islamic State of Iraq and the Levant’s (ISIL) conquest of oil fields and major dams has garnered the attention of the international community, the seizure of some of Iraq’s most valuable farmland has not received the same amount of attention. ISIL has large portions of Iraq’s top five most productive […]
Germany Pledges "Non-Lethal Aid" to Iraqi Army
By John Lee. Following on from France's move to rapidly supply Kurdish Peshmerga led forces with arms and equipment, Germany's Federal Ministry of Defence has pledged "non lethal aid" to the Iraqi army. Typically, non-lethal aid is sent when a matter is politically sensitive, or if a government has reservations about supplying one side in […]