Caterpillar to take over Weir Oil and Gas
By John Lee. Scottish engineering company Weir Group has announced the sale of its Oil & Gas division to US-based Caterpillar Inc. The all-cash sale gives its Texas-based division an enterprise value of US$405m (£314m), subject to customary working capital and debt-like adjustments at closing. The move is part of Weir's strategy to become a […]
Duhok Tourist Sites Booming
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Duhok tourist sites welcome more than 12,000 visitors in two weeks Tourist sites in Duhok province have seen upwards of 12,000 tourists in the two weeks since holidaymakers were allowed in from other parts […]
Iraq discusses sourcing Covid Vaccine with AstraZeneca
By John Lee. The Ambassador of Republic of Iraq in London, Mr. Muhammad Jaafar Al-Sadr, chaired a meeting with representatives of the British pharmaceutical group, AstraZeneca, which is a leading company in Coronavirus vaccine in cooperation with the University of Oxford in Britain, through video conference. The meeting discussed the possibility of Iraq obtaining adequate […]
Salaries of Iraqi Officials Depleting State Budget
From Middle East Monitor, under a Creative Commons licence. Any opinions expressed are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Salaries of Iraq senior officials depleting state budget The "astronomical" salaries of the president, ministers, members of parliament and other senior ranking officials in Iraq are depleting […]
Iraqi to Build Nuclear Reactors, Combat Electricity Woes
By Joe Snell for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. New Iraqi committee to build nuclear reactors, combat electricity woes Iraq's Prime Minister Mustafa al-Kadhimi ordered on Sept. 24 the formation of a committee tasked with overseeing the building of […]
Turkey Suspends Flights with Iraq
By John Lee. The Turkish Civil Aviation Authority has reportedly suspend flights between Turkey and Iraq from Saturday 3rd October. According to Shafaaq news agency, the decision was made to prevent the spread of coronavirus (covid-19). (Source: Shafaaq)
Kadhimi follows through on Security Reform Promises
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. Kadhimi follows through on promises to reform Iraq's security sector Since he took office in May, Iraqi Prime Minister Mustafa al-Kadhimi has made a series of changes in senior […]
JGC signs Contract for Basra Refinery Upgrade
By John Lee. Yesterday (Thursday), the South Refineries Company (SRC) and Iraq's Ministry of Oil (MOO) signed the contract with Japan's JGC Corporation to start construction of a new Fluid Catalytic Cracking (FCC) Complex at Basrah Refinery. The project is funded by the Japan International Cooperation Agency (JICA)'s ODA (Official Development Assistance) loan project. The […]
Iraq announces Oil Export Data for Sept
By John Lee. Iraq's Ministry of Oil has announced initial oil exports for September of 78,388,619 barrels, giving an average for the month of 2.613 million barrels per day (bpd), slightly up from the 2.597 million bpd exported in August. These exports from the oilfields in central and southern Iraq amounted to 75,000,000 barrels, while […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 1st Oct 2020). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD662 (+0.5%) / $693 (+0.5%) (weekly change) (+0.4% and -1.2% YTD change, respectively). The number of week traded […]
Video: IBBC Alumni Conference
The Iraq Britain Business Council (IBBC) hosted a virtual conference chaired by Prof. Mohammed Al-Uzri to inaugurate its newly launched network of Iraqi Alumni of UK universities. The conference was opened by Baroness Nicholson. The guest speaker, Dr. Hamid Ahmed, Deputy Minister of Iraq's Ministry of Higher Education and Scientific Research, confirmed the ministry's strong […]
Lockheed Martin wins $19m Iraq Contract
Lockheed Martin Rotary and Mission Systems has been awarded a $19,294,391 cost-plus-fixed-fee contract for Iraq Integrated Air Defense System contractor logistics support (CLS). The contract provides for follow on CLS sustainment support to include subject matter expert support, engineering support, return and repair and in country assessment visits. Work will be performed in Iraq; and […]