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 […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th June 2021). Please click here to view a table of listed companies and their associated ticker codes. ISX decided to increase trading hours starting June 20, 2021 for every trading session. Accordingly, pre-opening period will be from 9:30 to 10:00 am. Trading […]
New MoU a New Step towards Gender Equality in Iraq
A Memorandum of Understanding (MoU) has today been signed between the General Secretariat of the Iraqi Council of Ministers' (GSCOM) Women Empowerment Directorate and the United Nations Development Programme (UNDP) to advance gender equality, women empowerment, and social cohesion in Iraq. Building upon existing structures and ongoing gender mainstreaming efforts, the new partnership will strengthen […]
Iraq "Planning 8 Nuclear Power Stations"
By John Lee. Iraq is reportedly planning to build eight nuclear power stations to provide much-needed electricity. According to Bloomberg, the $40-billion scheme would provide 11 GW of power to the Iraqi grid. Click here to read the full article. (Source: Bloomberg)
KRG begins Buying Wheat from Farmers for First Time
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. KRG begins buying wheat from farmers for the first time The Kurdistan Regional Government (KRG) began buying wheat from farmers on Tuesday for the first time, following the completion of the newly constructed multimillion-dollar […]
Caliburn Donates $250k to American Uni Sulaimani (AUIS)
Caliburn International Donates $250,000 to American University of Iraq, Sulaimani (AUIS) Caliburn International has announced its intention to commit an initial $250,000 toward a new scholarship campaign with the American University of Iraq, Sulaimani (AUIS). The campaign, called "We Share the Future," will raise money to provide students from diverse communities across Iraq with access […]
UK, Iraq sign Strategic Partnership
By John Lee. British Foreign Secretary Dominic Raab has met with Prime Minister Kadhimi, President Salih, Foreign Minister Hussein and other high-ranking officials in the Iraqi Government. Foreign Secretary Raab reaffirmed the UK's commitment to Iraq through signing the UK and Iraq's Strategic Partnership. He met commanders from the Global Coalition against Daesh in which […]