Iraqi Airlines Re-Admitted to Turkey
By John Lee. Turkish authorities have allowed Iraqi Airlines to operate in the country again following the suspension of the airline due to a lack of punctuality in departures and arrivals. The General Directorate of the Turkish State Airports Authority (Devlet Hava Meydanları İşletmesi, DHMİ) said it would allow Iraqi Airlines to continue operations until […]
Inflation Running at 7% Year-on-Year
By John Lee. Inflation for July was up 7% year-0n-year, according to the Central Statistics Department of the Planning Ministry. Prices of some food and beverages, particularly fruits and vegetables, fell. Houses prices were up by 10% nationwide, with rents up 13%. In a separate report, 'core inflation', which strips out fuel prices, fell to […]
Communications Minister Resigns over 'Political Interference'
By John Lee. The Iraqi Minister for Communications, Mohammed Tawfiq Allawi, has resigned, accusing Prime Minister Nouri Maliki of refusing to stop "political interference" in his ministry. Mr Allawi is a member of the Sunni-backed Iraqiyya bloc, and a cousin of its leader Ayad Allawi. "I present my resignation because I have become incapable of working […]
Petroceltic Announces Interim Results and Operational Update
By John Lee. Petroceltic International, the independent oil & gas exploration company with interests in Iraqi Kurdistan, has announced its results for the period ended 30 June 2012. Highlights: Proposed Merger of Petroceltic & Melrose Resources plc ('Melrose') announced 17 August. Declaration of Commerciality announced 9 August for the Ain Tsila Field in Algeria. Final […]
34 Tons of Gold Imported into Kurdistan
By John Lee. AKnews reports that gold imports into Iraqi Kurdistan have hit 34 tons during the first seven months of the year. The increase in imports coincides with a surge in jewel and gold stores in the region’s three main cities. Of the total, 12,376 kilograms were imported through Erbil International Airport, with 22,384 […]
Kirkuk Pipeline Disrupted by Fire
By John Lee. Oil pumping from Iraq to Turkey was suspended temporarily on Monday due to a pipeline fire in Turkey. The fire occurred in Dorkulu village, near the town of Slopi in Turkey's Sirnak province. It is understood that the fire has been extinguished, but the loading of tankers at Ceyhan port has been […]
Russia Consolidates its Position in Iraq Upstream Petroleum
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraqi Ministry of Oil confirmed in late July that Russia’s Bashneft had accepted the ministry’s maximum acceptable remuneration fee (MARF) for exploration Block 12, which was offered in the fourth bid […]
Video: Iraqi Youth Orchestra finds Harmony Amid Conflict
By John Lee. The Iraqi National Youth Orchestra formed three years ago. Since then, an uncertain security situation has made it difficult for them to perform at home. But now they have found a new audience in England. Al Jazeera's Barnaby Phillips reports: (Source: AlJazeera)
Video: US Officials Say Iraq Helping Iran
By John Lee. CNN's Jill Dougherty reports on allegations Iraq is helping Iran navigate around the sanctions placed on Tehran: (Source: CNN)
Iraq to Offer Better Terms for Oil Contracts
By John Lee. Iraq's Deputy Prime Minister with responsibility for energy affairs, Hussein al-Shahristani (pictured), has reportedly said that Baghdad was considering offering foreign oil firms more lucrative contracts. According to a report from Aswat al-Iraq, he admitted that the recent fourth auction of exploration blocks had not been as successful as officials had hoped. […]
Al-Qaim Border Crossing with Syria Closed
By John Lee. Iraqi forces have closed the Al-Qaim border checkpoint with Syria with a three-metre concrete wall, Xinhua reports. Syrian rebels waged fierce battles with regime troops in the town of Albu Kamal [Al-Bukamal] along the Iraqi border, capturing a string of security posts and the local police headquarters. Taking full control of the […]
Vodafone to Partner with Zain?
By John Lee. Vodafone, the world’s second-largest mobile-phone company, is said to be nearing an agreement with Zain to expand access to networks across countries including Saudi Arabia, Iraq and Bahrain. According to a report from Bloomberg, the deal would let UK-based Vodafone lower roaming fees and share handset- purchasing costs. Vodafone is seeking to tap […]