CBI tries to find way to pay Russian Oil Companies
By John Lee. Mustafa Ghaleb Mokhif, the Governor of the Central Bank of Iraq (CBI) has met with the Russian Ambassador to Iraq, Elbrus Kutrashev, to discuss the payments due to Russian companies operating in Iraq. In a statement after the meeting, both parties expressed the need to find appropriate solutions to this issue. Payments […]
Iraq's Judiciary Shuts Down as Sadrists Escalate Protests
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's judiciary shuts down as Sadrists escalate street politics Iraq's supreme judicial council has announced the suspension of the operation of courts. This comes as the Shiite Coordination Framework says it will end […]
Iraq to Strengthen Telecom Link to Europe
By John Lee. Telecom Egypt and Orange Jordan have reportedly announced an agreement to connect Iraq's telecommunications system to Europe through Jordan and Egypt. According to Zawya, the new system will be known as the "Cairo Amman Baghdad System (CAB System)." It is planned to be operational in the current quarter. (Source: Zawya)
Work Begins on Akkas Gas Pipeline
By John Lee. Work has begun on the project to extend the gas pipeline from the Akkas gas field to the Akkas power station, in the Qaim district of Anbar Governorate. The General Manager of the State Company for Oil Projects (SCOP), Shaker Mahmoud Khalaf, said the pipeline (pictured) will be 35 kilometers in length. […]
Contract Awarded for Solar Street Lights in Anbar
By John Lee. Al-Safwa Office has won a new contract with the United Nations Office for Project Services (UNOPS), for the supply and installation of solar street lights in Anbar. The contract is valued at $449,560. (Source: UNGM)
UNESCO, UNICEF commend Iraq's commitment to Education
UNESCO and UNICEF commend Iraq's commitment to transform national education by engaging in the Transforming Education Summit UNICEF and UNESCO have commended Iraq for the submission of the National Statement of Commitment for the upcoming Transforming Education Summit (TES), that will take place in New York from 16 to 19 September. This Commitment outlines a […]
WFP Iraq Country Brief, July 2022
In Numbers 256,176 people assisted in July 2022 US$3.2 m cash-based transfers made US$44.2 m six months (August 2022-Jan 2023) net funding requirements Operational Updates In July, WFP provided cash and food assistance to 184,091 internally displaced persons (IDPs), 68,725 refugees, and 3,360 people from vulnerable communities through resilience building initiatives. In early July 2022, […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 18th August 2022). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD877 (-0.02%) / $764 (-0.02%) (weekly change) (-4.5% and -5.1% YTD change, respectively). The number of week traded […]
$500m for Improvement of Public Services in Kurdistan
By John Lee. As part of reform efforts by the Kurdistan Regional Government's ninth cabinet to improve the delivery of public services and foster economic development in the Kurdistan Region, Prime Minister Masrour Barzani (pictured) has announced the government will allocate 736.7 billion dinars [$505 million] for the years 2022 and 2023 in cash and […]
New Conditions for completion of $-multi-billion Housing Project
By John Lee. The Chairwoman of the National Investment Commission (NIC), Suha Daoud Najjar, has said that the NIC has specified "a number of legal and financial conditions" to proceed with the development of the Bismaya Residential City southeast of Baghdad. She said the NIC is now waiting for a reply from South Korean firm […]
Possible removal of Iraqi Airways from EU Banned List
By John Lee. The European Union is preparing to allow Iraqi Airways planes to operate again within the EU. On Wednesday, the Ambassador of the European Union to Iraq, Ville Varjola, told the Secretary-General of the Council of Ministers, Hamid Naim Al-Ghazi, of his quest to resolve this issue with the relevant authorities. The airline […]
Are Iraq's Ambitious Oil Production Goals Feasible?
Writing in Oil Price, Simon Watkins argues that while Iraq's plans to increase oil production are, in broad terms, entirely realistic, the extent of Iraq's ultimately recoverable oil resources is subject to a large degree of uncertainty. Click here to read the full article.