English-language Summary of Iraq's White Paper
By John Lee. The Government of Iraq has issued an English-language summary of its recently-approved white paper on economic reforms: The Iraqi government has formally adopted the White Paper for Economic Reforms prepared by the Crisis Cell for Financial and Fiscal Reform. The White Paper seeks to put Iraq's economy on a path that allows […]
Islamic State resurfaces with attacks in Diyala
By Shelly Kittleson, for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Islamic State resurfaces with attacks in Iraq's Diyala province The Islamic State's gruesome killing of a sheikh and some of his relatives by rigging his corpse with explosives has […]
The Inevitability of Reform in Iraq
By Ahmed Tabaqchali, for the Atlantic Council. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. The irrefutable logic of numbers and the inevitability of reform in Iraq On October 13, Iraq's Council of Ministers endorsed the White Paper for financial and fiscal reform. […]
"Impressive Performance" for Zain Iraq
By John Lee. Zain Iraq's 9M 2020 revenue reached USD 708 million and EBITDA amounted to USD 285 million, reflecting EBITDA margin of 40%, according to the company's results statement for the first nine months of the year. The operation reported a net profit of USD 61 million for 9M 2020. The operator served 15.7 […]
Genel Energy issues Trading and Ops Update
Genel Energy has issued the following trading and operations update in respect of the third quarter and first nine months of 2020. Bill Higgs (pictured), Chief Executive of Genel, said: "Genel continues to demonstrate its resilience and ability to be move quickly to navigate changing external conditions. Production has remained robust, increasing quarter on quarter, […]
Iraqi Parliament votes on Final Version of Electoral Law
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. Iraqi parliament votes on final version of electoral law The Iraqi parliament managed to overcome the hurdle of constituencies impeding the legislative elections law, passing the final version Oct. 29 amid […]
New System boosts Ease of Doing Business in Iraq
A new online single window system for business registration in Iraq is supporting an entrepreneurial environment during COVID-19. Opening a business in Baghdad has never been easier. All that is needed is one dream, one form and one payment to complete the administrative side of establishing operations. Budding entrepreneurs can reserve a name, register, and […]
Lukoil and Iraqi PM discuss Cooperation
The Prime Minister of Iraq, Mustafa Al-Kadhimi, and Iraqi Oil Minister Ihsan Abdul Jabbar Ismail, received a delegation from LUKOIL on Monday, headed by its President Vagit Alekperov (pictured). The meeting was also attended by the Russian Ambassador Maxim Maximov. The parties discussed the progress of the West Qurna-2 project and Eridu field (Block-10), as […]
Iraq Increases Oil Exports in Oct
By John Lee. Iraq's Ministry of Oil has announced initial oil exports for October of 89,153,899 barrels, giving an average for the month of 2.876 million barrels per day (bpd), up from the 2.613 million bpd exported in September. These exports from the oilfields in central and southern Iraq amounted to approximately 86,000,000 barrels, while […]
Demands for Payment from Militias stalling Investment
By Salam Zidane for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Demands for payment from tribes, militias stalling investment in Iraq Economic projects in Iraq are facing major setbacks due to ongoing payment demands from tribes and armed groups. Click […]
Iraqi Cabinet urges cooperation with Turkey over Tigris River
The Iraqi Cabinet has authorised the Minister of Water Resources to negotiate and sign a protocol of cooperation between Iraq and Turkey on the management of the water resources of the Tigris River. According to the UN, intake from the Tigris and the Euphrates rivers - Iraq's primary sources of water - is decreasing at […]
Why IBBC Autumn Conf will be Different and Full of Promise
From the Iraq Britain Business Council (IBBC). Why IBBC Autumn conference will be different and full of promise: Opportunity in Adversity To be honest, the idea of holding a conference in the year of COVID, might look fool hardy, but sometimes you have to face down challenges and move forward, just like the Government of […]