Iraq-Iran Gas Pipeline Operational by March
By Patrick M Schmidt. The Managing Director of the Iranian Gas Engineering and Development Company, Alireza Gharibi, said he expected tests to begin on the new Iran-Iraq gas pipeline by next month. "Operations for the construction of Iran-Iraq gas pipeline are complete and we are now in the pre-startup testing phase, after which the pipeline […]
German Advisors Arrive in Kurdistan
By Patrick M Schmidt. The Kurdistan Regional Government (KRG) has welcomed forty German military advisors who will begin training Peshmerga security forces on weapons newly received from Germany. The advisors have previous experience training foreign militaries. The German military assistance package is valued at $92 million and is aimed to assist in their fight against […]
Oil Pipeline Sabotaged in Diwaniya
By John Lee. An oil pipeline passing through the governorate of Diwaniya has reportedly been sabotaged by an explosion, the first event of its kind in the province. Aswat al-Iraq reports that the explosion was made by dynamite underneath the pipeline that runs from Basra to Baghdad. The explosion took place in Saniya area, 12 […]
Video: Shia Group Accused of Revenge Attacks
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Shia militias fighting against the Islamic State group (IS) in Iraq have been accused of exacting revenge against Sunnis. Kurdish fighters say the Iranian-backed Badr brigade, has carried out reprisals against villagers suspected […]
Currency Auction Results, 15th Sept
By John Lee. The Central Bank of Iraq (CBI) has reported that 18 banks took part in its currency auction on Monday. A total of $237,698,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Listing of New Iraqi Cabinet
Niqash has issued the following listing of the new Iraqi cabinet, translated from the Arabic official government announcement: Deputy Prime Ministers: Hoshyar Zebari (Kurdish); Saleh al-Mutlaq (Sunni); Bahaa al-Araji (Shiite) Ministry of Agriculture: Falah Hassan al-Zaidan (Sunni) Ministry of Communication: Kazem Hassan Rashed (Shiite) Ministry of Construction and Housing: Tariq al-Khikani (Shiite) Ministry of Culture: […]
Central Bank gets New Governor
By John Lee. The Secretary General of the Council of Ministers, Ali Mohsin Ismail (pictured), has been appointed Governor o the Central Bank of Iraq (CBI), replacing Dr Abdulbasit Turki [Abdul Basit Turki Saeed]. His position as GSCOM is to be filled by Dr. Hamed khalaf Ahmad. Mr Ismail said he was leaving his former […]
Money from Fake Bomb Detectors Repatriated
By John Lee. Iraq's Commission of Integrity has reportedly repatriated five billion Iraqi dinars [$4.3 million] that were smuggled to Lebanon. According to Aswat al Iraq, the money, in addition to some real estate investments, were illegally obtained by British businessman James (Jim) McCormick, who was sentenced to 10 years in prison in Britain for […]
Unemployment Increases in Kurdistan Region
By John Lee. BasNews reports that the unemployment rate in Kurdistan has risen from 7 percent at the end of 2013 to 10 percent currently. The number unemployed is nearly 100,ooo, of which 52 percent are men. The increase has been blamed on the general economic situation in Iraqi Kurdistan, and on the sanctions that Baghdad […]
New French Ambassador to Iraq
By John Lee. The new Minister of Foreign Affairs, Dr. Ibrahim al-Jaafari has met the new French Ambassador to Iraq, Mr. Francois Bartley, and received a copy of his credentials. During the meeting, they discussed relations between Iraq and France and ways to enhance prospects of joint cooperation. They also discussed the ongoing preparations for […]
Germany Funds Field Kitchens for IDPs
The United Nations World Food Programme (WFP) has welcomed a contribution of €2 million from the Government of Germany to help fund its emergency field kitchens in Iraq supplying hot meals to over a quarter of a million people. Since August, WFP, alongside its local partner, the Barzani Charity Foundation, has successfully served more than […]
BP, CNPC Increase Stakes in Rumaila
By John Lee. Reuters reports that a revised contract signed last week by BP and China's CNPC for the Rumaila oilfield has raised both companies' stakes in the project. Thamer Ghadhban (pictured), energy adviser to former Prime Minister Nuri al-Maliki, told the news agency that BP's share has been increased from 38 percent to 47.6 […]