US Army Can’t Show Delivery of $1bn Fuel to Iraq
By John Lee. The Special Inspector General for Iraq Reconstruction (SIGIR) has reported that U.S. Army Corps of Engineers (USACE) did not establish effective internal controls to document that goods and services paid for using DFI funds were received in Iraq. SIGIR sampled 12 DFI-funded payments, totaling about $1.1 billion, made to USACE and found that […]
Iraq and the US Elections: Who Actually Cares?
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. Over the past two decades the outcome of the US presidential elections has been hotly debated by Iraqis. However this year, the approaching American cliff-hanger hardly […]
Bad Weather Halts Basra Oil Exports Again
By John Lee. Bad weather on Sunday forced Iraq to cut exports from its southern oilfields from 2.35 million barrels to just 792,000 barrels. Port officials have said that things should start to pick up again on Monday, according to the report from Agenzia Giornalistica Italia. The same thing happened last week when adverse weather […]
45 New Oil Wells Drilled in Maysan
By John Lee. The Missan Oil Company has announced the completion of 45 new oil wells in the province as well as the rehabilitation of a number of old wells. The Director General of the Company, Ali M'arij, told AIN that "the Chinese company PetroChina drilled 30 new oil wells and rehabilitated six old ones […]
Iraq Ratifies Nuclear Protocol
By John Lee. The Iraqi Ambassador to Austria, Surood Rashid Najib, has met the Director General of the International Atomic Energy Agency (IAEA) Yukiya Amano at the IAEA headquarters in Vienna, and notified him that the Iraqi authorities have ratified the additional protocol to their comprehensive safeguards agreement and it has therefore entered into force. […]
Kurdish Villagers Demand Compensation for Forced Evacuations
By Abdul-Khaleq Dosky. 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. Almost 30 years ago they were forced from their land so Turkish military could freely hunt rebels across the border. Now the Kurdish villagers, who have […]
Foreign Minister Meets Russian Ambassador in Baghdad
By John Lee. Iraq's Foreign Minister, Hoshyar Zebari, has met the Russian Ambassador, Mr. Elia Murgunov, and handed him a reply message to his Russian counterpart Sergei Lavrov in response to his letter. The meeting was attended by Undersecretary for Policy Planning, Chairman of the Department of Europe and the Director of the Office of […]
Pakistan's Lucky Cement Enters JV in Iraq
By John Lee. Lucky Cement, which claims to be the largest manufacturer of cement in Pakistan, has entered into a joint venture for a cement grinding plant in Iraq, according the The News. "The contract for the supply of plant and machinery for this project has been signed and the project team, as well as […]
Overly Friendly Neighbours: Iran’s Influence in Iraqi Kurdistan
By Histyar Qader. 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. What plans do Iranian diplomats have for Iraqi Kurdistan? Recently there have been high level visits from both sides and locals say the Iranians, a major […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 25th October 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,457 / $1,576 (+1.3%) (weekly change). The number of week traded shares was 4.8bn and the weekly trading volume was ID6.5bn ($5.4mn). Note: There will […]
Iraqi Police Storm Central Bank, Arrest 36
By John Lee. Iraq's Interior Ministry says its forces have stormed Central Bank building in Baghdad and arrested 36 officials on suspicion of corruption. “A security force belonging to the ministry implemented an arrest warrant issued by the judicial council against a numerous officials of the Central Bank without any problem,” the ministry said in […]
Northrop Grumman Equips Iraqi Patrol Vessel
Advanced communication, sensor and navigation systems from Northrop Grumman have been installed on the Iraqi offshore patrol vessel, the Al-Fayhaa, which along with the Al-Basrah will conduct security missions in the northern Arabian Gulf According to a report from UPI, the systems for the first of two patrol vessels, procured by the U.S. Navy for […]