Total "in Talks" to Sell Stake in Iraqi Oil Field
By John Lee. France's Total is reported to be in talks to sell its 18-percent stake in the Sarsang block in Iraqi Kurdistan, in a move aimed at reducing the company's debt. Bloomberg says the company is working with Jefferies Financial Group on the deal, adding that the holding could be worth as much as […]
Switzerland hopes to Reopen Embassy in Baghdad
By John Lee. Switzerland is hoping to reopen its embassy in Baghdad early next year. The announcement was made after the Chief of Iraq's Protocol Department, Mr. Ali Shamran, met with the Swiss ambassador to Iraq residing in Amman, Mr. Lukas Gasser, and discussed bilateral relations between the two countries and ways to develop them. […]
German Firm "the Only Certification Body" for Imports into Iraq
By John Lee. Germany's TÜV Rheinland has said it has been named as the only certification body for Iraq's new "Certificate of Registration (CoR)" procedure. In a statement, the company said all manufacturers and suppliers who export goods to Iraq will in future require a registration certificate, which was issued in accordance with the new […]
Iraqi MP says Govt to Devalue Dinar
By John Lee. A member of Iraq's Parliamentary Finance Committee has reportedly confirmed the government's intention to devalue the Iraqi dinar. MP Jamal Kocher told Shafaq News Agency: "I think that there is a government tendency to create an atmosphere for raising the dollar exchange rate more than it was in previous budgets ... The […]
How China "Took Control" of Exxon's Iraqi Oilfield
How China Took Control Of Exxon's Supergiant Iraqi Oilfield Recent reports suggest that Chinese oil giants China National Petroleum Corporation (CNPC) and China National Offshore Oil Corporation (CNOOC) are "considering acquiring" U.S. oil titan ExxonMobil's 32.7 per cent stake in Iraq's supergiant West Qurna 1 oil and gas field. Writing in Oil Price, Simon Watkins […]
Establishing a Sovereign Wealth Fund in Iraq
From the Al-Bayan Center for Planning and Studies. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The Prospects Of Establishing A Sovereign Wealth Fund In Iraq Throughout history, financial crises have been met with innovative reform plans that help develop the resilience of a […]
Activists fear Iraqi Cybercrime Law could Limit Press Freedom
By Omar Sattar for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Activists fear Iraqi cybercrime law could limit press freedoms The Iraqi cybercrime bill makes a reappearance amid widespread objections by civilians and activists who label it as repressive of […]
Market Review: Private Sector Deposit & Loan Growth Continues
By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Market Review: "Private Sector Deposit & Loan Growth Continues" The market, as measured by the Rabee Securities RSISX USD Index (RSISUSD), was up 1.0% in […]
Challenges Facing the Electricity Sector in Iraq
From the Al-Bayan Center for Planning and Studies. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Powering Iraq: Challenges Facing the Electricity Sector in Iraq On February 21, 2020, Iraq recorded its first case of the novel coronavirus. Five months later, total recorded cases […]
Korea extends Support to Stabilization in Iraq
The Ministry of Foreign Affairs of the Republic of Korea (MoFA) is supporting the United Nations Development Programme (UNDP) with an additional USD 5M million to support stabilization activities in areas liberated from the Islamic State of Iraq and the Levant (ISIL) in Iraq. The Republic of Korea's contribution will be channeled through UNDP's Funding […]
Netherlands to support UN Electoral Assistance to Iraq
UN signs financing agreement with the Netherlands to support UN electoral assistance to Iraq The United Nations in Iraq welcomes the contribution of EUR 3 million from the Netherlands to a UN-led project to support and assist capacity-building within the Independent High Electoral Commission (IHEC). The Dutch funding will also support deployment of UN electoral […]
Al-Sadr may be preparing a bid to be Iraq's next PM
By Omar al-Jaffal for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Muqtada al-Sadr may be preparing a bid to be Iraq's next prime minister The populist cleric appears to be gearing up for the upcoming parliamentary elections slated for June […]