US Man Pleads Guilty to Illegal Dinar Sales
By John Lee. An American man has pleaded guilty to operating an illegal business selling Iraqi dinar. ArgusLeader reports that 60-year-old David Olmsted, also known as Dale Cooper Jr., received daily Federal Express packages with shrink-wrapped piles of dinar bills that had been smuggled out of Iraq and into Jordan. The man, from South Dakota, was […]
My Voice Counts: Iraq, the Cradle of Civilisation
Iraq conjures up many enduring cultural images: the great lions of Babylon, the Ishtar Gate (pictured), and the superb spiral mosque of Samarra are some of the most renowned. These vast archaeological riches, spanning centuries of civilization, are part of the national heritage that is shared by all Iraqis – and part of the patrimony […]
Video: Learning from Iraq - a New Model for Reconstruction
The Middle East Institute is pleased to welcome Stuart Bowen, the Special Inspector General for Iraq Reconstruction (SIGIR), to discuss his proposals for how best to conduct Stability and Reconstruction Operations. Stability and Reconstruction Operations, or (SROs), entail governmental efforts to rebuild crucial infrastructure, implement rule of law, and ensure security in developing countries before, […]
Black Skies over Qayara: Oil Fire Poisons Locals
By Abdullah Salem. 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. After extremists set off bombs on Iraq’s most dangerous oil field, the resulting fire burned for a month. The result: toxic smoke, two deaths, accusations, environmental […]
Iraq to Ban Cement Imports
By John Lee. Iraqi Cabinet decided to ban the importation of cement from 1st July, according to a report from Aswat Al Iraq. The ban includes white cement, and it will be lifted if local production is not sufficiency to meet demand. (Source: Aswat al-Iraq) (Picture: Falluja Cement Factory)
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 30th May 2013). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,733 (-2.7%) / $1,823 (-1.5%) (weekly change). The number of week traded shares was 39.8bn and the weekly […]
Dodgy Dinar: Fake Passports in Bogus Banking, Currency Crisis
By Mustafa Habib. 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. During the past month of violence, the Iraqi dinar’s value has fluctuated radically. Now black market money men are using Iraq’s poorer passport holders to take […]
More than 1,000 Iraqis Killed in May
According to casualty figures released today by UNAMI, a total of 1,045 Iraqis were killed and another 2,397 were wounded in acts of terrorism and acts of violence in May. The number of civilians killed was 963 (including 181 civilian police) and the number of civilians injured was 2,191 (including 359 civilian police). A further […]
Video: Maliki Vows Action Against Extremists
From Jewish News One. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq civil war fears: PM Maliki vows action against extremists as sectarian violence spirals. Iraqi Prime Minister Nouri al-Maliki has vowed to confront sectarian militants following a recent spate of car bombings […]
Video: Attacks Kill Dozens as Violence Spirals
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Attacks in Iraq kill dozens of people and bring the death toll from May's violence above 600, sparking fears of all-out sectarian conflict.
Shares in GKP, Genel, Up on Oil Find
Gulf Keystone (GKP) and Genel Energy announced a commercial oil discovery at the Ber Bahr-1 exploration well on the Ber Bahr block in the Kurdistan Region of Iraq. Shares in GKP were up more than 5 percent on the day, with Genel Energy up 1.2 percent. Genel Energy, as operator, made the following statement: "The […]
Iraq to Buy 150,000t of Thai rice
By John Lee. Iraq has bought 150,000 tonnes of rice from Thailand in a nominal tender for at least 30,000 tonnes, a source at the trade ministry has told Reuters. The rice is to be purchased from two sources: Olam International is to supply 120,000 tonnes; and, Ameropa is to supply the remaining 30,000 tonnes. […]