Iraqi Dinar falls 17% against US Dollar
By Adam Lucente for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi dinar falls 17% against dollar amid US restrictions over Iran deals The current depreciation follows 14 Iraqi banks being barred from using the dollar amid a crackdown on […]
The Baghdad Job: Who was behind History's Biggest Bank Heist?
By Nicolas Pelham, for The Economist. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. The Baghdad job: who was behind history's biggest bank heist? Criminals stole $2.5 billion from Iraq's largest state bank in broad daylight. Nicolas Pelham follows their trail. Read the […]
Erbil Logistics Firm joins Project Cargo Network
By John Lee. Erbil-based freight forwarding and customs clearance company Almas Group Logistics has joined the Project Cargo Network (PCN). Established in 2009, the company has three offices in Erbil, Baghdad and Sulaymaniyah. PCN provides access to a global network of agents who can handle shipments; it comprises more than 350 companies in 125 countries. […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 27th July 2023). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Change RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 1,121.7 0.7% 23.2% RSISX USD Index 1,103.0 […]
Depreciation of Iraqi Dinar sparks Protests
By John Lee. Dozens of people have reportedly protested in front of the offices of the Central Bank of Iraq (CBI) in Baghdad following a fall in value of the Iraqi Dinar (IQD) against the US dollar. Over the previous two days, the dollar is said to have risen from 1,470 dinars to 1,570 dinars. […]
Iraq Britain Business Council (IBBC) welcomes New Member
By John Lee. Defaf Al Khaleej Security Services (DAK) has joined the Iraq Britain Business Council (IBBC). Mr Rafid Al Jasim, Chairman of Defaf Al Khaleej Security Services (DAK), expressed his enthusiasm about the partnership, stating: "We are truly delighted to become a part of the esteemed Iraq British Business Council (IBBC). We truly value […]
Iraqi Airlines to Auction Saddam Hussein's 747
By John Lee. Iraqi Airways has announced that it will conduct a public auction for the sale of two Boeing 747 aircraft, which are parked at Tozeur-Nefta Airport in Tunisia. Both Pratt and Whitney-engined planes were made in 1982, and have been parked at the airport since 1991. It is understood that both planes were […]
Iraq Finalises Oil Export Data for June
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for June: Total exports of crude oil: 100,059,052 barrels Revenues from crude oil exports: $7.179760 billion Oil fields in central and southern Iraq accounted for 98,725,620 barrels of crude oil exports. Exports from Kirkuk through the port of Ceyhan have been suspended. Oil […]
Will Iraq succeed in quest to join WTO?
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Will Iraq succeed in quest to join World Trade Organization? Iraq's 19-year-long push to join the World Trade Organization (WTO) is gathering pace. Baghdad initially submitted a request to join the international trade body […]
Iran's Taban Airlines launches Karaj-Najaf Flights
From Tasnim, under a Creative Commons licence. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The public relations department director of Iran's Taban Airlines announced the launch of weekly Najaf flights from Payam International Airport in Karaj on Saturdays. Speaking in an interview with […]
Capacity to Double at Iraqi Fertilizer Plant
By John Lee. AAA Holding Group (AHG) has announced a doubling of capacity at its fertilizer plant at Khor al Zubair, in Basra governorate. The new line, producing di-ammonium phosphate (DAP) fertilizer, will have a capacity of 500,000 tons per year, bringing total production at the plant to one million tons annually. Amet Selman, CEO […]
UK Trade with Iraq Up 57%
By John Lee. The UK's Department for Business and Trade has said that total trade in goods and services (exports plus imports) between the UK and Iraq was £1.2 billion [$1.5 billion] in the four quarters to the end of Q4 2022, an increase of 57.3% or £432 million in current prices from the four […]