Denmark Donates another $8m to Iraq
The United Nations Development Programme (UNDP) in Iraq welcomes an additional DKK 50.3 million (US$8 million) contribution from the Government of Denmark to its flagship Funding Facility for Stabilization (FFS). The funding will support the safe return of people in areas liberated from ISIL in Iraq by rehabilitating critical infrastructure, creating livelihoods and building social […]
UNESCO Strengthens Iraq's Online Distance Learning
UNESCO strengthens MoE Iraq's capacities in online distance learning to respond to COVID-19 The closure of schools and disruption to learning brought about by the COVID-19 pandemic have highlighted the need to utilize online and distance modes of learning to promote learning continuity. Distance learning, known synonymously as online learning or e-learning, serves as a […]
Five One Labs announces Recipients of Growth Funding
Five One Labs, a start-up incubator for entrepreneurs based in the Kurdistan Region of Iraq (KRI), has announced the grant recipients of its Growth Funding Project (GFP). The program aims to support early- and later-stage startups that were impacted by COVID-19 with seed funding grants to grow their businesses, as well as business advisory from […]
New COVID-19 Guidelines for Travelers by Iraqi Kurdistan
In accordance with the global response against COVID-19 and the cautious lifting of restrictions, the Kurdistan Regional Government's Ministry of Health has updated official guidelines for travel to the Kurdistan Region. Taking into consideration the public interest and the government's ongoing efforts to combat the spread of COVID-19, travelers entering the Kurdistan Region by land […]
Amnesty: Arbitrary Arrests and Enforced Disappearance in Kurdistan
By Amnesty International. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Kurdistan Region of Iraq: Arbitrary arrests and enforced disappearance of activists and journalists Over the past year the authorities in the Kurdistan Region of Iraq (KR-I) have ruthlessly cracked down on journalists, activists […]
BP to Spin Off Iraq Operations?
By John Lee. UK-based BP is reportedly considering a plan to spin off its operations in Iraq into a separate company. According to Dow Jones, the new company would be jointly owned by the China National Petroleum Corporation (CNPC), BP's partner in the giant Rumaila project. More here. (Source: Dow Jones)
Increased Capacity at Dora Refinery
By John Lee. Iraq's Minister of Oil has opened two plants for improving gasoline and hydrogen production at the Al-Dora refinery in Baghdad. The new gasoline line will increase capacity from 3 million liters per day to 4 million liters per day, and is part of a program to reduce fuel imports by 50 percent […]
Iraq "Cancels Interest" on Housing Loans; Increases Funding
By John Lee. The Central Bank of Iraq (CBI) has announced increased funding for the housing sector, and the cancellation of interest on "old and current" loans. It said it has allocated 1 trillion dinars [$685 million] to the Real Estate Bank and about 900 billion dinars [$616 million] to the Housing Fund. (Source: CBI)
Kuwait and Iraq discuss Grid Connector
By John Lee. Iraq's Ambassador to Kuwait, H.E. Mr. Al-Manhal Al-Safi, met on Friday with the Kuwaiti Minister of Electricity, Water and Renewable Energy, H.E. Dr. Mishaan Al-Otaibi. They discussed cooperation in renewable energy and natural gas, as well as developments in grid connection to supply Iraq with electrical power. (Source: MoFA)
GKP Shares Rise on Corporate Update
By John Lee. Shares in Gulf Keystone Petroleum (GKP) ended the day up more than 6 percent on Friday, as the Kurdistan-focused oil producer gave an operational and corporate update: Jon Harris (pictured), Gulf Keystone's Chief Executive Officer, said: "We continue to safely navigate a challenging operating environment due to COVID-19, with gross average year-to-date […]
Central Bank Warns Against Speculation in Iraqi Dinar
By John Lee. The Central Bank of Iraq (CBI) has confirmed its commitment to a stable foreign exchange rate for the Iraqi dinar. According to a statement from the bank, "the dollar exchange rate is fixed and there are no intentions to change." It added that the rate chosen at the end of 2020 was […]
UN, US supporting Land Rights of Minority Groups
UN-Habitat Executive Director meets with the US Ambassador to Iraq to discuss on-going partnership to support the land rights of minority groups UN-Habitat's Executive Director (ED), Mrs. Maimunah Sharif, met with Ambassador Matthew H. Tueller, the United States' Ambassador to Iraq, and thanked the US Government for its longstanding partnership and continued trust in UN-Habitat's […]