Non-Aligned Movement Adopts Iraq Resolutions
The 17th Ministerial Conference of the Non-Aligned Movement adopted 2 positive resolutions on Iraq in the final document of the conference. The conference welcomed Iraq's initiative of hosting the International Conference to Combat Terrorism in Baghdad, March 12-13, 2014, in order to promote and strengthen international cooperation in the fight against terrorism. The Ministers also […]
PM Barzani on KRG Oil Exports
The Prime Minister yesterday addressed the Kurdistan Parliament at length regarding the Region's financial situation, disputes with Baghdad, natural resources, and other matters. An excerpt of his address is below: “The Kurdistan Region’s policy from the beginning has been based upon solving outstanding issues with Baghdad. We want to find a solution and reach an […]
Opportunities in Islamic Finance Sector
Dubai Chamber of Commerce and Industry has urged Iraqi banks and financial companies to expand their networks within the Islamic economy through Dubai which is working hard towards becoming the capital of Islamic Economy in the World during a roundtable discussion on “Islamic Finance” held in Divan Hotel, Erbil, Kurdistan. The meeting, which identified the […]
Petroceltic Updates Operation, Shares Fall
By John Lee. Petroceltic International has issued an update on its operations including the following statement on its business in the Kurdistan Region of Iraq. The shares closed down 5.6 percent on Friday: The Shakrok-1 well on the Shakrok licence (Petroceltic 16%, Hess (Operator) 64% and the Kurdistan Regional Government 20%) reached its total depth […]
Video: National Youth Orchestra Seeks Funding
Founded in 2009 by 17-year-old Zuhal Sultan, a pianist in Baghdad, the National Youth Orchestra of Iraq is a group of 44 young musicians from across the country who overcome seemingly insurmountable barriers to make music together. That the orchestra exists at all is astounding. Despite the lack of infrastructure and shortage of music teachers, […]
Post-Election Attacks Kill Dozens
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. A post-election wave of attacks across Iraq, including car bombings in Baghdad and a northern city, killed at least 74 people:
A Power Struggle of a Different Kind
By Padraig O'Hannelly. While much of the world's media focuses, understandably, on the contest to form the next government, a power struggle of a different kind has come to a head between the central government in Baghdad and the semi-autonomous Kurdistan Regional Government in Erbil. In what many regard as a milestone for Kurdish independence, […]
KNOC Raises Stake in Sangaw Block
By John Lee. South Korea's state-run Korea National Oil Corporation (KNOC) has said it has acquired an additional 30 percent stake in the Sangaw South exploration block in Iraqi Kurdistan. Platts reports that this doubles the company's stake in the block to 60 percent. "KNOC plans to drill another exploratory well in Sangaw South next […]
Interview: Subhi Khudairi, EVP of Khudairi Group
The market for construction equipment is booming in Iraq, and Khudairi Group has grown to become one of the leading players. Iraq Business News spoke with the company's Executive Vice President, Subhi Khudairi (pictured), to get his perspective on this key sector. Iraq Business News: Our readers are very familiar with the general Iraqi growth […]
Iraq to Invest in Associated Gas
By Nassir al-Hassoub for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The official spokesman for the Iraqi Oil Ministry, Assem Jihad, announced that the licensing contracts with international oil companies bound them to formulate systems to invest in associated petroleum gas, stressing that […]
Devco Ships $53m Kit to Sulfur Mine
By John Lee. US-based engineering firm Devco has shipped $53 million worth of equipment to the Mishraq State Sulfur Mine in Mosul. This is the second major shipment from Devco’s $78.6 million order from the Iraqi Ministry of Industry. This contract, part of ongoing rehabilitation of the mine, is the largest contract awarded by Iraq’s […]
AMAR Fights Polio Outbreak in Iraq
AMAR is working alongside Iraq’s Ministry of Health to help fight an outbreak of polio – the first in 14 years -- helping the Ministry step up its vaccination campaign to prevent the disease from spreading. On March 30th, officials from the World Health Organisation confirmed a 6 year old boy in Baghdad had contracted […]