GKP outlines Payments to Govts for 2021
By John Lee. Gulf Keystone Petroleum (GKP) has just published details of its payments to governments for the year 2021: Introduction This report sets out details of the payments made to governments by Gulf Keystone Petroleum Ltd and its subsidiary undertakings ("Gulf Keystone") for the year ended 31 December 2021 as required under Disclosure and […]
Ukraine War: Iraq grapples with Rising Food Costs
By Ayser Jabbar for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq grapples with rising food costs as a result of Ukraine war Ripple effects from the Russian invasion of Ukraine are driving the Iraqi government to allot additional funds […]
Turkey may 'lock' Borders with Syria and Iraq
By Fehim Tastekin for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Turkey may 'lock' borders with Syria and Iraq to deal with Kurdish militants There is speculation about a secret deal between Ankara and Baghdad eyeing a contiguous, 30-kilometer-deep buffer […]
Earthlink to use Nokia solution to improve coverage
Earthlink to use Nokia's GPON solution to improve coverage in Iraq's eight governorates Earthlink Telecommunications will use the Nokia solution over eight governorates/provinces in the country with high-speed and quality fixed access services to over 1.5 million subscribers, as part of one of the largest Fiber-to-the-Home (FTTH) projects awarded in the country. Earthlink will use […]
Historic Sawa Lake disappears from Iraqi Map
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Historic Sawa Lake disappears from Iraqi map The Sawa Lake in Iraq has been associated with tales of history and human activity for hundreds of years, but today […]
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 9.5 percent this year, giving it the fastest real GDP growth of all the Middle East and Central Asia countries. The 2023 expectation of 5.7 percent is just one percentage point behind […]
Improving Economic Conditions drive Asiacell Iraq Growth
By John Lee. Mobile phone service Asiacell has reported a healthy increase in its customer base and revenue. In its financial results for the quarter ended 31 March 2022, parent company Ooredoo said: "Asiacell reported revenue of QAR 883 million during Q1 2022, an increase of 4%, compared to QAR 852 million in Q1 2021, […]
New Iraqi Innovation Fund Launched
Orange Corners Innovation Fund signs an MoU with the National Bank of Iraq (NBI) to launch the Orange Corners Innovation Fund (OCIF) program in Baghdad KAPITA, a leading private sector development company, has signed a Memorandum of Understanding with the National Bank of Iraq (NBI) to launch the Orange Corner Innovation Fund (OCIF) in Baghdad. […]
IDC starts Drilling 20 Oil Wells at Nasiriyah
By John Lee. The Iraqi Drilling Company (IDC) has started work on the first of its 20 oil wells at the Nasiriyah oil field in Dhi Qar. IDC's Director General, Basem Abdul Karim, said that the project is part of a contract with the Dhi Qar Oil Company (DQOC) in cooperation with Weatherford. The planned […]
ShaMaran reports Record Oil Revenues at Atrush
ShaMaran Petroleum has released its financial and operating results and related management's discussion and analysis (MD&A) for the three months and year ended December 31, 2021. Dr. Adel Chaouch, President and Chief Executive Officer of ShaMaran, commented: "2021 has been a transformational year for ShaMaran. The Company generated the highest annual oil sales revenues in […]
Eid al-Fitr Holiday to begin on Sunday
By John Lee. The Iraqi Government has confirmed that the Eid al-Fitr holiday will begin on Sunday 1st May, and end on Thursday 5th May. Official working hours will resume in all government institutions on Sunday 8th May. (Source: General Secretariat for the Council of Ministers)
New Efforts to Release Businessmen Detained in Iraq
By John Lee. High-level diplomatic efforts have reportedly been stepped up in the hope of securing the release two foreign businessmen held in an Iraqi jail. Australian citizen Robert Pether and his Egyptian colleague Khalid Radwan have been detained since April 2021. They have been sentenced to five years in prison and jointly fined $12 […]