Kurdish Oil Production Reaches 80,000 bpd
Crude production from oilfields in Iraqi Kurdistan has reached about 80,000 barrels per day, but only about 50,000 bpd are being exported, sources at Iraq's North Oil Company said on Friday. "We have between 45,000 and 50,000 barrels per day being pumped from the Tawke oilfield to the export pipeline, while crude from Taq Taq […]
Iraq Fines Zain $262 Million
Reuters reports that Iraq has fined Kuwait-based telecoms provider Zain $262 million for putting 5 million Sim cards in the local market without permission, contravening its licence. The company has three months to pay. Zain's Iraq unit will appeal the fine, its chief executive, Emad Makiya, said. "They have no right to issue such a […]
Violent Protests Break Out in Iraq
Violent protests have broken out at various locations in Iraq, with anti-government protesters rallying against corruption, poor basic services and high unemployment. Basra: In the country's second largest city, about 1,000 people protested on Friday, demanding better services, jobs and improved pensions. They called for the provincial governor to resign, and blocked a bridge for […]
Happy Birthday to Us!
This week marks the first birthday of our Iraq Business News weekly newsletter -- from a modest start, our newsletter is now read by nearly 8,000 people each week, while our website receives more than 100,000 visitors each month. Our readership includes some of the best-informed decision makers in sectors such as energy, infrastructure, security, […]
Hyundai Power Station Deal Signed
The Iraqi Ministry of Electricity said on Tuesday it had signed a contract with Hyundai, of South Korea, for the construction of four new power generating stations at the al-Quds [al-Qudus] Gas Plant. Musaab Mudarris, the spokesman for the ministry, said the construction of the four new stations with a capacity of 125 megawatts (MW) […]
Arab League Summit in Baghdad Going Ahead
Iraq will host its first Arab League Summit in two decades on March 29 despite ongoing unrest in the Middle East, a foreign ministry official said. The summit is seen as crucial for Iraq's reintegration into the Arab world and comes at a critical time in the region following popular protests that have unseated Tunisia […]
KRG, a Model for the Middle East
By Chris Bowers, British Consul General in Erbil. This article was originally published by Rudaw, and is re-published with permission by Iraq Business News. It has been an interesting few weeks in Kurdistan – though I think I could have safely written that each week that I have been here so far – as society […]
Iraqi Inflation Rises in January
The Ministry of Planning and Development has reported that the inflation rate increased by 2% in January, bringing the rate to 5.8%. Abdul Zahra al-Hindawi told AKnews that the reasons behind the high inflation rate are higher rents and increases in the prices of imported food. The Ministry of Planning and Development in Iraq suggested […]
A Healthy Revulsion Against Presidential Inflation
The following article was published on Wednesday by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq […]
Iraqi Stability: A Year in Review
Iraq Business News has been shedding light on the investment climate in Iraq for a year. Over that period there have been numerous improvements in conditions. However, security has continued to play a major role in the business sector. Attacks and instability have persisted despite a significant reduction in overall violence in recent years. The […]
Unlocking Iraq's potentials: strategy and constraints
By Tariq Abdell, Iraq's political risk analyst, and Founder & CEO of Mesopotamia Insight. The opinions expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News. As Iraq-business news celebrates its one year anniversary, MENA region is witnessing a fundamental political upheavals and changes, costing Mubarak of […]
Weekly Security Update for 16th February 2011
Overview Levels of violence have been rising in Iraq over the past four weeks. The increase has been gradual, but consistent and last week saw more than 40 attacks reported countrywide for the first time since mid-December. Recent days have seen a particularly concerning rise in militant activity and social tensions in the northern city […]