UK, Iraq sign Strategic Partnership
By John Lee. British Foreign Secretary Dominic Raab has met with Prime Minister Kadhimi, President Salih, Foreign Minister Hussein and other high-ranking officials in the Iraqi Government. Foreign Secretary Raab reaffirmed the UK's commitment to Iraq through signing the UK and Iraq's Strategic Partnership. He met commanders from the Global Coalition against Daesh in which […]
China to Rehabilitate the Nassiriyah International Airport
By John Lee. Iraq and China have signed a contract for the rehabilitation of Nassiriyah International Airport. Prime Minister Mustafa al-Kadhimi attended the signing on Tuesday. According to Shafaq, the contract was signed by the Iraqi Civil Aviation Authority (ICAA) and the China State Construction Engineering Corporation (CSCEC). (Sources: Govt of Iraq, Shafaq)
Iraq to Distribute Plots of Land to Citizens
By John Lee. Prime Minister Mustafa al-Kadhimi has said the Iraqi Government is working on a national project to distribute plots of land to citizens. In a statement following Tuesday's cabinet meeting, al-Kadhimi added: "In order to prevent any manipulation, and for the sake of justice in the distribution of entitlement, there will be an […]
Addressing the Needs of Iraq's Most Vulnerable
Addressing needs of Iraq's most vulnerable critical for inclusive and sustainable recovery from COVID-19, new UNDP reports say Recovery strategies targeting Iraq's vulnerable populations - including women, youth and Internally Displaced Persons (IDPs) - must be prioritized to ensure inclusive and sustainable recovery from COVID-19 in Iraq, according to two new complementary reports released today […]
KRG to rely 100% on Natural Gas for Electricity
Ten electricity plants were provided with transformers at a ceremony attended by Deputy Prime Minister Qubad Talabani in Koya town on Thursday. The Deputy Prime Minister commended the Koya transformer project and addressed developments in the electricity sector, including the Kurdistan Regional Government's decision to go all in on natural gas. "The power generation costs […]
Iraqi Tankers Re-Registered in Umm Qasr
By John Lee. Two oil tankers owned by the State Company for Maritime Transport (SCMT) have been transferred from Jordanian registration to registration in the Iraqi port of Basra, following the lifting of sanctions. Iraqi Transport Minister, Captain Nasser Hussain Bandar Al-Shibli [Captain Nasser Hussein Bandar Al-Shibli], raised the Iraqi flags on the vessels, the […]
Global Solidarity Needed for Iraq's Vulnerable Children
From Iraq Solidarity News (Al-Thawra). Re-published with permission by Iraq Business News. In this conversation with Liz McRae, Hussein Al-alak hears about the efforts which the Iraqi Children Foundation have been undertaking, during the course of the Covid-19 pandemic. Liz McRae is the Executive Director of the Iraqi Children Foundation. Can you tell us about […]
LUKoil announces Plans for Iraq's Block 10
By John Lee. The head of Russia's LUKoil has said that the company plans to start production at Iraq's Block 10 at the end of 2022 or in 2023. Vagit Alekperov (pictured) told a Reuters that output will start at 30,000 barrels per day (bpd). The field is being developed by LUKoil (60%) and Inpex […]
Petrel Resources' Focus will be Iraq
By John Lee. In its preliminary results for the year ended 31st December 2020, Petrel Resources made the following statement on its interests in Iraq: "Meanwhile Petrel continues to push its interest in Iraq and Ghana. For the foreseeable future oil will play a major part in world economic development. "Iraq has some of the […]
The Station announces Collaboration with Baghdad Legal Firm
By John Lee. The Station Foundation for Entrepreneurship announces a collaboration with the law firm Al Muhamoon Al Mutahidoon. According to a statement from The Station, this collaboration arose from the two parties' desire to collaborate in an effective manner in order to support startups, particularly those located in The Station's coworking space, for the […]
Market Review: "Market Consolidates Gains"
By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Market Review: "Market Consolidates Gains" The market, as measured by Rabee Securities RSISX USD Index, paused its three-month string of gains in May, ending the […]
Addressing Iraq's Human Capital Crisis
Iraq Human Development Public Expenditure Review: Addressing the Human Capital Crisis - A Public Expenditure Review for Human Development Sectors in Iraq Iraq is facing a human capital crisis despite having been one of the early investors in health and education in the MENA region. The World Bank's Human Capital Index shows that a child […]