CBI Acts to Address Dollar Restrictions on Banks
By John Lee. The Central Bank of Iraq (CBI) has announced a series of measures to address issues affecting Iraqi banks restricted from dealing in US dollars. In remarks reported by the state-run Iraqi News Agency (INA), Ahmed Dawood Salman, Director of Transfers at the CBI, said the bank is working with international audit firms, […]
WHO Allocates $500k for Emergency Health Response in Iraq
By John Lee. The World Health Organization (WHO) has released $500,000 to support emergency coordination, trauma response, mental health services, and medical supply distribution in Iraq. The funding is part of a $2 million commitment in emergency funding to support health responses in Lebanon, Iraq and Syria as part of the WHO's Contingency Fund for Emergencies. […]
Used Tyres Recycled into Industrial Products
By John Lee. The State Company for Rubber Industries and Tyres, part of the Ministry of Industry and Minerals, has processed 170 tonnes of used tyres into industrial products as part of a recycling project implemented in partnership with the private sector. According to Director General Haider Nasser Dhaher, the output from 2025 included a […]
Iraqi Airspace to Remain Closed Until Wednesday Noon
By John Lee. The Iraqi Civil Aviation Authority (ICAA) has extended the closure of Iraqi airspace to all arriving, departing and transit aircraft until 12:00 noon on Wednesday. The authority said the decision was taken as a temporary and precautionary measure, based on an ongoing assessment of the security situation and in light of regional […]
Italy makes "Significant Contribution" to Refugees in Iraq
From the United Nations Refugee Agency (UNHCR). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Italy strengthens support for refugees in Iraq with a significant contribution UNHCR, the UN Refugee Agency, welcomes a generous contribution from the Government of Italy, through the Italian Agency […]
First Iraqi Bank Rating Placed On 'Watch Negative'
By John Lee. S&P Global Ratings has placed the 'B-' rating on First Iraq Islamic Bank For Investment And Finance JSC on CreditWatch with negative implications. It added: "A sharp decline in oil production tied to the increased escalation of the Middle East conflict could lead us to downgrade Iraq, which could, in turn, affect […]
NATO Moves Iraq Operations to Europe
By John Lee. The NATO Mission in Iraq (NMI) has relocated all its personnel from Iraq to Europe. In a statement, it confirmed that the final personnel departed Iraq on 20th March, with the mission now continuing from Joint Force Command Naples in Italy. Full statement from NATO: NATO Mission Iraq Posture Adjusted MONS, Belgium - […]
Basra Oil Output Down 73%
By John Lee. Basra Oil Company (BOC) has reduced crude oil production from 3.3 million barrels per day to 900,000 barrels per day following the suspension of exports from southern ports. The reduction was confirmed during a meeting chaired by Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul Ghani Al-Sawad to […]
Iraqi Airspace to Remain Closed Until Sunday Noon
By John Lee. The Iraqi Civil Aviation Authority (ICAA) has extended the closure of Iraqi airspace to all arriving, departing and transit aircraft until 12:00 noon on Sunday. The authority said the decision was taken as a temporary and precautionary measure, based on an ongoing assessment of the security situation and in light of regional […]
Joint Statement on the Strait of Hormuz: 19 March 2026
Joint statement from the leaders of the United Kingdom, France, Germany, Italy, the Netherlands, Japan and Canada on the Strait of Hormuz: 19 March 2026 19 March 2026 We condemn in the strongest terms recent attacks by Iran on unarmed commercial vessels in the Gulf, attacks on civilian infrastructure including oil and gas installations, and […]
Iraq Airspace Closure "Costs $43m"
From Shafaq. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq airspace closure costs $43 million during US-Israel war on Iran Iraq's aviation sector has lost nearly $43 million since authorities shut the country's airspace following the outbreak of the US-Israeli war on Iran […]
Najaf Seismic Programme Completed Ahead of Schedule
By John Lee. The Iraq Oil Exploration Company has completed a two-dimensional seismic survey programme for the Al-Qurnain exploration project in Najaf province, aimed at expanding Iraq's geological database and supporting future oil and gas discoveries. The project forms part of efforts by the Ministry of Oil to strengthen hydrocarbon exploration activities and increase the […]