US's $51bn Iraq Projects at Risk, Says Inspector
Bloomberg reports that billions of dollars in Iraqi reconstruction projects may be wasted as the U.S. transfers them to the Iraqi government. Special Inspector General for Iraq Reconstruction (SIGIR), Stuart Bowen (pictured), told the US's House Oversight Committee: “There remains a vulnerability that thousands of projects [completed with $51 billion in American reconstruction funds] will […]
Video: US House Oversight Cmte on Transition to Civilian-led Mission
The US House Oversight Committee held a hearing to assess the transition of control in Iraq from a military to a civilian-led mission. Witnesses included: The Honorable Patrick Kennedy, Under Secretary for Management, U.S. Department of State; Mr. Peter Verga, Chief of Staff for the Under Secretary for Policy, U.S. Department of Defense; The Honorable […]
KRG participates in UN Commission on Status of Women
The KRG will participate in the inauguration ceremony of the United Nations' 56th session of the Commission on the Status of Women for the first time, with the participation of more than 190 countries. Dindar Zebari told Iraqi News agency: “The meeting will evaluate progress on gender equality, identify challenges, set global standards and formulate […]
Heritage Oil Suspends Shares Following Acquisition
Shares in Heritage Oil, the petroleum explorer and producer with operations in Iraqi Kurdistan, have been suspended following the announcement of a major acquisition in Nigeria. Together with a local Nigerian partner, Shoreline Power Company Limited, the company has reached agreement to acquire a 45% participating interest in a producing oil mining lease in Nigeria […]
250 Mercedes-Benz Trucks Delivered to Iraq
In yet another major order for Mercedes-Benz Trucks, Iraq’s State Company for Automotive Industry (SCAI) recently purchased 250 trucks to assist in reconstruction efforts in the country. The last of the ordered vehicles were delivered to SCAI just a few days ago. “We’re very pleased to help with the reconstruction of Iraq by supplying 250 […]
Trade Ministry Seeks US Support to Join WTO
Iraq's Ministry of Trade has requested support and assistance from the United States to help his country join the World Trade Organisation (WTO). The National Iraqi News Agency (NINA) reports that following talks with the Iraqi-US Commercial Committee, Minister Khayri-allah Babakir [Dr Khairallah Hassan Babiker] (pictured) said: "Iraq has a lot of opportunities that can […]
Kurdish-Dutch Business Association Launched
AKnews reports that a Kurdish-Dutch business association has been established in Amsterdam to enhance economic and financial relations between the Kurdistan Region and the Netherlands. Association member Bakir Lashkri said: "The club's function is to help Dutch companies that want to invest in the Kurdistan Region and also to improve relations between the Kurds and […]
Shahristani Invites Indonesian Companies to Invest in Iraq
Iraq's Deputy Prime Minister for Energy Affairs, Hussein al-Shahristani (pictured), has invited Indonesian companies and investors to participate in the reconstruction of Iraq, according to a report from AIN. The DPM emphasised opportunities in the areas of petrochemical plants and fertilizers factories. During his speech to the Indonesian Parliament, he assured MPs that "Iraq is […]
Memoranda Signed Between Iranian and Iraqi Provinces
Memorandums of Understanding (MoUs) have reportedly been signed between 12 bordering provinces of Iraq and Iran, according to a report from AKnews. The governor of Erbil, Nawzad Hadi, said the memorandums were signed between cities bordering Iran and Iraq at a conference in Iran in the presence of a number of Iranian government officials. "The […]
Russia's Bashneft wins Iraqi Energy Contract
Russian oil giant Bashneft has been award the rights to explore for oil in the south of the country after nearly one month of negotiations, a senior Baghdad official said on Sunday, according to a report from Bloomberg. This brings the total number of Russian companies with oil deals in Iraq to three. During Iraq's […]
Deleting Zeros from Dinar "Needs Further Deliberations"
The Iraqi Central Bank (ICB) said on Sunday that the deletion of zeros from the currency still needs further deliberations with relevant institutions, according to a report from AKnews. The ICB added that it is seeking to make the Iraqi currency stronger and more stable through new mechanisms with regard to dealing with banks for […]
Pertamina to Invest in Iraqi Oil Fields?
Indonesia’s state-owned oil company Pertamina wants to buy stakes in at least two Iraqi oilfields, according to a report from Bloomberg. During meetings between Iraqi and Indonesian government officials in Jakarta, company President and CEO Karen Agustiawan (pictured) told reporters the company may acquire a 10 percent share in an area that produces 2.5 million barrels […]