Iraqi Airways grounds its Airbus A220-300 Aircraft
By John Lee. The Iraq Civil Aviation Authority (ICAA) has directed Iraqi Airways to ground its Airbus A220-300 aircraft. According to a letter from the ICAA on 3rd May, "it was decided to stop operating all aircraft of the aforementioned model (A220-300) immediately and until further notice, and until the investigation procedures are completed." The […]
Korek ordered to Pay $800m to State Treasury
By John Lee. The head of Iraq's Communications and Media Commission (CMC) has said the regulator has won a judicial decision against Korek Telecom, obliging the company to pay approximately $800 million to the Iraqi state treasury. The decision resolves a long-standing legal dispute between the commission and the company over unpaid dues, and Dr. […]
A Roadmap for Successful Economic Development in Iraq
By Dr. Layth Mahdi. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq: A roadmap for successful economic development With every change of government, we hear similar political statements about rebuilding Iraq. I genuinely believe the Iraqi people are capable of developing an economy […]
Shake-Up and New Expansion at Baghdad International Airport
By John Lee. According to a report from Rudaw. the director of Baghdad International Airport (BIAP) has submitted his resignation on Sunday, following an encounter with Prime Minister Mohammed Shia' al-Sudani, at which the PM strongly criticized the director for the airport's poor quality of services. Prime Minister of Iraq, Mr. Mohammed S. Al-Sudani, has […]
Iraq Oil Exports Increase in April
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for April: Total exports of crude oil in April: 98,634,947 barrels Revenues from April's crude oil exports: $7.796 billion Oil fields in central and southern Iraq accounted for all of April's crude oil exports, as exports from Kirkuk through the port of Ceyhan […]
The Rise and Demise of EITI in Iraq
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Rise and Demise of EITI in Iraq Enthusiasm and commitment to the international Extractive Industry Transparency Initiative (EITI) in Iraq gathered momentum and zeal from 2008 to mid-2013, then declined sharply […]
Pakistani Firm Sells Stake in Iraqi Cement Maker
By John Lee. Pakistan's Attock Cement Pakistan Limited will reportedly sell its investment in its cement grinding facility in Iraq. Pro Pakistan reports that its 60-percent share in Saqr Al-Keetan for Cement Production Company Limited (SAKCPCL), located at Khor Al-Zubair, Basra, will be sold for a US$23.4 million, to be paid in three tranches. The […]
Discussions on Transfer of German Health Tech to Iraq
By John Lee. The Iraqi Minister of Health of Iraq, Prof. Dr. Saleh Al-Hasnawi, met with representatives from the German Agency for International Cooperation (Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH) and the German Deputy Minister of Health to discuss cooperation between the two countries. They discussed increasing cooperation in digital electronic governance, transferring German […]
Iraqi Kurdistan to Build Three New Dams
In coordination with the Iraqi Ministry of Water Resources, the Kurdistan Region will construct three new strategic dams to capture one billion cubic meters of water. Within the framework of the Kurdistan Regional Government's strategic plan to fight drought, three dams named "Dalga", "Mandawa", and "Bakrman" will be constructed in the Erbil, Duhok and Raparin […]
Overpass Construction Starts at New Intersections in Baghdad
By John Lee. Prime Minister Mohammed S. Al-Sudani has supervised the launch of two new projects aimed at relieving traffic congestion in Baghdad. The first project involves the construction of two overpass bridges at the intersection of Aden and Sana'a squares on the Karkh side of Baghdad. The second project includes the construction of two […]
France opens Visa Centre in Mosul
By John Lee. The French Consul General in Mosul, Jean-Christophe Augé, has opened a new visa application centre in Mosul. This makes France the first EU country to open visa service in the city. Based in the offices of Mosul Space, the centre is run by TLScontact, part of Paris-based Teleperformance Group. (Source: @AugJeanChristo1)
CBI launches Banking Supervision Reporting System (BSRS)
By John Lee. The Central Bank of Iraq (CBI) has launched the Banking Supervision Reporting System (BSRS), which will collect financial data from banks and non-banking financial institutions. According to a statement from the CBI, the system will provide the Banking Control Department with a clear view of the financial status of financial institutions, enabling […]