Iraq Auditor Questions $636m in Costs
By John Lee. The Special Inspector General for Iraq Reconstruction (SIGIR), Stuart Bowen (pictured), has found serious weaknesses in the government’s controls over Iraq reconstruction funds that put billions of American taxpayer dollars at risk of waste and misappropriation. The precise amount lost to fraud and waste can never be known, but SIGIR believes it […]
Iraqi Ministry to Build Housing Complex for Employees
By John Lee. Iraq's Minister of Science and Technology, Dr. Abdul Kareem Al-Samarra’yie [Abdul-Karim al-Sammaraie, Abd al-Karim al-Samarrai], has signed a contract with the "Bank Company for Construction Contracting" to build an integrated residential complex for the employees of the Ministry in Tuwaitha site. A statement by the ministry quoted the Minister as saying "The […]
Toyota to Open Sales Center in Basra
By John Lee. Japanese car giant Toyota says it wants to open a sales center in Basra province, and Basra Investment Commission (BIC) has offered to help facilitate the project, according to a report from AIN. Saleh Rauf, the Executive Director of Toyota, said: "The Company has an earnest and ambitious plan to start this […]
Foreign Minister Opens Iraqi Consulate in Frankfurt
By John Lee. Minister of Foreign Affairs, Hoshyar Zebari, inaugurated the new Iraqi Consulate General in Frankfurt on Wednesday. Present at the ceremony were; Representative of Hessen Province Premier, Rudolf Chris, the Iraqi Ambassador in Berlin, Representative of the German Ministry of Foreign Affairs and Iraq's File Manager, Accredited Consul Generals in Frankfurt, and prominent […]
Site Allocated for Concrete Factory in Babel
By John Lee. The Committee on Studying Land Allocation for Investment and Development Projects has agreed to allocate an 8 donum (2 hectare) site for the construction of a ready-mixed concrete factory in Babel province. The project, for the Al-Rashid Company, should start within a maximum period of 6 months, otherwise the allocation will be […]
HRW: "Iraq Cybercrimes Law Violates Free Speech"
A new draft law on information technology crimes would restrict free speech in violation of international law and poses a severe threat to journalists, whistleblowers, and peaceful activists, Human Rights Watch said in a report released today. The pending law includes vague provisions that would allow Iraqi authorities to harshly punish expression they decide constitutes […]
Tensions Rise as Kurdistan Trucks Oil to Turkey
By John Lee. Turkey has started importing the crude oil from the Kurdistan Region of Iraq, and will hold negotiations over direct sales to the natural gas. The Turkish Energy Minister said in a press conference on Friday that "Turkey has started importing five to ten trucks of crude oil per day from Kurdistan, and […]
Foreign Minister Opens Iraqi Embassy in Paris
By John Lee. Iraq's Minister of Foreign Affairs, Hoshyar Zebari, inaugurated the new Iraqi Embassy building in the French capital, Paris, on Thursday following refurbishment work on the building. Present at the ceremony were; Iraqi Prime Minister's Counselor, Dr. Fadhil Mohammed Jawad, Minister Delegate for the French Foreign Ministry for Development Affairs, Pascal Canfin, Representative […]
Splitting Iraq: How Likely is an Independent Kurdistan?
By Shwan Zulal. 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. The disputes between Baghdad and Iraqi Kurdistan have led some local politicians to call for the semi-autonomous region to secede from Iraq and become its own […]
"Influential Figures" Manipulating Dinar Exchange Rate
By John Lee. An MP and member of the Parliamentary Economic and Investment Committee, Aziz Sharif al-Mayahi, has demanded that the Iraqi Central Bank dismiss and replace some "influential figures" in the Bank who allegedly manipulate the exchange rate of the Iraqi dinar against the US dollar. The article in AIN refers to what it […]
Shell to Start Pumping Gas in Southern Iraq
By John Lee. Shell plans to start pumping gas from its gas joint venture in southern Iraq in the next three weeks according to Reuters. Initial production will be 60 million cubic feet per day, but Shell's Iraq boss Hans Nijkamp told Deputy Prime Minister Hussain al-Shahristani that output would be increased by a further […]
KRG PM Barzani Announces Duhok International Airport
By John Lee. KRG Prime Minister Nechirvan Barzani this week announced that the foundation stone for Duhok International Airport will be laid within two months. The future airport will further strengthen tourism and trade links in Duhok, which is one of Iraq's most prosperous governorates. The premier’s news came in a statement also unveiling broader […]