$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.
Iraq Invites Bids for Dam on Shatt al-Arab
By John Lee. Iraq's Ministry of Water Resources has reportedly invited bids from three international companies to build a dam on the Shatt al-Arab waterway, to help reduce salinity in the river. Economy News lists the firms invited to bid as Energoprojekt of Serbia, Hydronova of Italy, and Deltares from the Netherlands. It says that […]
UPDATE: Iraq's Finance Minister reportedly Resigns
By John Lee. Iraq's Minister of Finance, Ali Allawi, has reportedly resigned during the Cabinet meeting today (Tuesday). Both Associated Press and Shafaq News Agency cite sources as saying that Prime Minister al-Kadhimi accepted the resignation, and appointed the Oil Minister, Ihsan Abdul-Jabbar Ismail, as Acting Finance Minister. The Prime Minister's statement following the cabinet […]
US Ambassador discusses Money Laundering, Terror Financing
By John Lee. The Governor of the Central Bank of Iraq (CBI), Mustafa Ghaleb Mokhif, received the US Ambassador to Iraq, Alina Romanowski and her accompanying delegation on Monday. He reviewed the efforts of the CBI to support development through monetary policy tools and the direct impact of its initiatives on the real sector progress, […]
KRG Cabinet authorizes 206 Projects in three years
The Kurdistan Regional Government's Ninth Cabinet has implemented several projects and authorized numerous others since assuming office on July 27, 2019. In the past three years, the Cabinet has authorized the implementation of 206 investment projects with a total budget of $11,629,355,000 in different areas of the Kurdistan Region. Crucially, of those 206 projects, 202 […]
DNO publishes Corporate Social Responsibility (CSR) Report
By John Lee. DNO, the Norwegian oil and gas operator with significant operations in Iraqi Kurdistan, has released its 2021 Social Corporate Responsibility Report. Click here to download the full report. (Source: DNO)
Understanding Iraq's Coordination Framework
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Understanding Iraq's Coordination Framework The Coordination Framework is an umbrella bloc of Iraqi Shia parties united mostly by their opposition to the Sadrist movement. Click here to read the […]
Contract Awarded for Anbar Water Treatment Plants
By John Lee. Ummet Al Salam Co. Ltd. for General Trading & Contracting has won a new contract with the United Nations Office for Project Services (UNOPS), for the rehabilitation of water treatment plants in four different locations in Anbar The contract is valued at $680,000. (Source: UNGM)
Iraq Completes Airport Communication System
By John Lee. Iraq's General Company for Air Navigation Services has reportedly announced the completion and activation of its new AMHS ground-to-ground communications system. AMHS (Air Traffic Services Message Handling Services) is a standard for aeronautical ground-ground communications, such as for the transmission of NOTAM, flight plans or meteorological data. According to the report from […]