US, Iraq Discuss Counter-terrorist Financing
The U.S. Department of the Treasury’s Under Secretary for Terrorism and Financial Intelligence, David S. Cohen (pictured), visited Iraq to continue the Treasury Department’s work on countering threats posed by terrorist financing, as well as the implementation of international sanctions against the governments of Iran and Syria. In a series of productive meetings with senior […]
Baghdad, Erbil Trade Accusations on Oil Payments
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Baghdad and Erbil, the capital of the semi-autonomous Kurdistan region of Iraq, have exchanged accusations over the payment of foreign oil companies for extraction costs, which the Kurdistan Regional Government (KRG) […]
Video: Is Iraq Heading for its own Arab Spring?
From Jewish News One. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Last week demonstrators in Iraq converged at the so-called 'tent city' protest to hear the Sunni finance minister announce his resignation live on stage, where he stated that "it doesn't honour me […]
KRG President Barzani Meets US Ambassador
In a meeting with the US Ambassador to Iraq Robert Beecroft on Sunday, President Barzani said the KRG believes that only through meaningful dialogue can Iraq’s current crisis be ended and that the KRG is working to initiate consultation meetings with other Iraqi sides in Erbil. In the meeting, President Barzani and Ambassador Beecroft discussed […]
Indonesia's Pertamina Eyes Iraq
By John Lee. Pertamina, Indonesia’s state-owned oil and gas company, has said it is considering expanding its upstream business in Iraq. The company's investment planning and risk-management director, Afdal Bahaudin, told The Jakarta Post that the second-largest oil producer in the country would keep on searching for producing onshore oil fields available to purchase in […]
New 4G Mobile Service to be Launched
Alcatel-Lucent and Regional Telecom, a communications service provider in Northern Iraq, are to launch the nation’s first 4G LTE network, providing the region with lightning-fast wireless broadband services including high-definition video streaming, high-speed Internet access and a range of business services. The new network will be the first in Iraq to offer large-scale wireless broadband […]
Iraq Shuts Syrian Border Post
By John Lee. Iraqi military sources say they have closed the Rabia border crossing with Syria until further notice as Syrian rebels seized the other side of the frontier post from the Syrian army. Reuters reports that the Iraqi army fired warning shots into the air late on Friday as Syrian insurgents fought government forces […]
Start of Production at Gharraf Delayed
By John Lee. Japan Petroleum Exploration (Japex) and its partners have delayed the start of production in the Gharraf [Garraf] oil field by six months, according to Bloomberg. Production was scheduled for the end of 2012, but will now be postponed until the end of June; a company official blamed the delay on problems with […]
Details of $700m Upgrade to Basra Steel Plant
Iraq’s ministry of industry and minerals has confirmed that it has finalised a $700 million contract with Turkish group United Brothers Holding to revamp and upgrade Iraq’s State Company for Iron & Steel, reports SteelGuru. SCIS, located on the southern outskirts of Basra, has been out of action since April 2003. The company had a design […]
US Promotes Growth Through Tijara Program
U.S. Ambassador to Iraq Stephen Beecroft (pictured) and USAID Deputy Mission Director David Harden celebrated on February 25 the completion of the U.S. Agency for International Development’s (USAID) five-year, $192 million Provincial Economic Growth Program-Tijara. Through partnership and joint cooperation with the Iraqi Ministry of Trade, project beneficiaries, and representatives from microfinance institutions, the Tijara […]
Iraqi Telecoms Infuse Stock Market
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Mobile phone company Zain Iraq announced that it will put 25% of its shares on the Iraqi stock market, less than three weeks after its rival Asiacell placed a portion of […]
Lebanese Entertainment Group to Open in Baghdad
Lebanese company Robert's Group is due to open its first family entertainment centre in Iraq next month. The standalone outlet in Baghdad will have 40 games and will be opened in conjunction with a local partner. According to a report from Intergame, the new unit is currently in the final stages of completion. Robert’s Group, […]