China to Study Iraq's Offshore Oil Resources
By John Lee. The Iraqi Oil Exploration Company has signed a contract with China National Offshore Oil Corporation (CNOOC) to study Iraq's offshore oil block in the Gulf. The Undersecretary for Extraction Affairs represented the Oil Minister, Mr. Ihsan Abdul-Jabbar Ismail, at the signing ceremony. The General Manager of CNOOC Middle East and Iraq said […]
DNO issues Production Update
DNO ASA, the Norwegian oil and gas operator, will publish its Q3 2022 operating and interim financial results on 3 November 2022 at 07:00 (CET). The Company issues below an update on production and sales volumes for the quarter as well as other key financial information that will be further discussed in the earnings call. […]
CBI discusses Electronic Payments in Iraq
By John Lee. A high-level delegation from the Central Bank of Iraq (CBI), headed by the Deputy Governor, Dr. Ammar Hamad Khalaf, participated in the annual meetings held by the International Monetary Fund (IMF) and the World Bank in Washington, DC. During the meetings they parties discussed cooperation with Iraq, and to provide the necessary […]
Video: Power Blackouts persist in Energy-Rich Iraq
From Al Jazeera. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq is among the world's richest countries in energy, but that is doing little for the people who live there. For decades, many have suffered because of power outages, and there is no […]
IBBC's Tech Forum at the IBBC Dubai Conference
From the Iraq Britain Business Council (IBBC): This year's Tech forum is a forward looking and inspirational session, covering new initiatives in Education skills including AI/Cyber/Big data and online teaching courses, as well as an overview on how Iraq's start up economy is evolving and the challenges it faces. Laura Oliver of Iraq venture partners will take us through […]
$2.5bn Tax Fraud Uncovered in Iraq
By John Lee. Iraq's Federal Commission of Integrity (FCOI) has said it is investigating the theft of 3.7 trillion Iraqi dinars ($2.5 billion) from the General Tax Authority. The funds were allegedly stolen from the Tax Authority's account at the state-run Rafidain Bank. According to The National, the money was paid to five recently-created companies […]
Kirkuk International Airport Opened
By John Lee. The Iraqi Civil Aviation Authority (ICAA) has announced the opening of Kirkuk International Airport. Transport Minister Nasser Al-Shibli inaugurated the new facility on Sunday. The authority indicated that the airport has completed all international standards and requirements to be ready to receive all flights. (Sources: ICAA, Ministry of Transport)
Iraqi Finance Minister Replaced
By John Lee. On Sunday, Oil Minister Ihsan Abdul Jabbar Ismail was replaced as Acting Minister of Finance by Hiam Nemat Mahmoud (pictured). Ismail had be appointed in mid-August following the resignation of Dr Ali Allawi, who stepped down in protest at the widespread corruption in Iraq. According to The National, Parliament voted last week […]
Can a New Government Save Iraq?
By Sajad Jiyad, for The Century Foundation (TCF). Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Can a New Government Save Iraq? A little more than a year after the country's last elections, Iraq has finally broken its political deadlock. On Thursday, the […]
Video: Iraqi Political Groups Demand Changes
From Al Jazeera. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. After months of unrest, Iraq's new prime minister, Abdul Latif Rashid, is set to form a new government. But around the capital, small political parties have been gathering to remind the government they […]
Iraq to have Fastest Growing Economy in Middle East, Central Asia
By John Lee. According to the recently-published World Economic Outlook from the International Monetary Fund (IMF), Iraq's economy is forecast to grow by 9.3 percent this year, giving it the fastest real GDP growth of all the Middle East and Central Asia countries. The forecast is slightly down from the 9.5 percent projected in the […]
UAE Retailer to target Iraqi Market
By John Lee. Abu Dhabi-based retail chain Lulu Group is reportedly raising funds to finance an expansion into Iraq. A director told Khaleej Times that the company plans an IPO next year, and will continue to add new outlets and new markets, including Iraq and North Africa. More here. (Source: Khaleej Times)