Baghdad ruling deals Blow to Kurdistan's Gold Trade
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Baghdad ruling deals blow to Kurdistan Region's gold trade The Iraqi Civil Aviation Authority's decision to ban the import and export of gold to and from the Kurdistan Region last month has triggered anger […]
EBRD Considering Iraqi Membership
By John Lee. The European Bank for Reconstruction and Development (EBRD) is reportedly considering a request from Iraq to become a member. A decision is expected to be made within three weeks. The EBRD was established to help build a new, post-Cold War era in Central and Eastern Europe. It has since played a historic […]
US Grants Iraq New 60-day Waiver to Import Iranian Gas
By John Lee. The United States has reportedly granted Iraq a 60-day extension to a sanctions waiver allowing it to import Iranian gas. According to the report from AFP, Iraq relies on gas and electricity imports Iran to supply about a third of its electricity sector. More here. (Source: AFP)
Iraq Revokes Permission for Special Arbaeen Flights
By John Lee. The Government of Iraq has reportedly revoked permission for Pakistan International Airlines (PIA) to operate special flights to Iraq for people intending to observe Arbaeen. The move is a consequence of Iraq's decision to ban all foreign arrivals into Iraq, due to the spread of Covid-19. (Source: Dawn)
Iraqi Kurdish Police Arrest Journalist for "Defamation"
From the Committee to Protect Journalists (CPJ): Iraqi Kurdish police arrest journalist Bahroz Jaafer over criminal defamation suit filed by Iraq's president Kurdish authorities in Iraq should immediately release journalist Bahroz Jaafer, drop all charges against him, and allow the press to cover and write critically about politicians without fear of detention or legal action, […]
Trade Bank of Iraq names New Chairman
By John Lee. The Trade Bank of Iraq (TBI) has announced that Salem Chalabi [Salem Jawad Abdul Hadi Al-Jalabi] has taken over as the company's Chairman and President with immediate effect. Prime Minister Mustafa Al-Kadhimi appointed the Yale graduate to succeed Faisal Al Haimus, who has been named as head of the Iraq Securities Commission […]
US Charges Two over Alleged Bribery in Iraq
Two individuals have been charged with bribery offenses in connection with Department of Defense contracts as part of the Fraud Section's ongoing efforts to combat corruption and fraud in contracting on U.S. military installations overseas. Mark Alan Fryday, 37, and Lara Jumaah Mohammed, 30, both residing in Erbil, Iraq, were charged in an indictment filed […]
New Railway to be built between Mosul and Turkey
By John Lee. A new railway line will reportedly be built between Mosul and Turkey. Anadolu Agency quotes the governor of Mosul, Najim al-Jubouri, as saying that a team of engineers with the support of Turkish companies will start laying a new line "in the coming days". (Source: Anadolu Agency)
Investment Opportunity: Commercial Center in Diwanyah
By John Lee. The National Investment Commission (NIC) has announced the following investment opportunities: Construction of Commercial Centre in Diwanyah (Source: National Investment Commission)
Petrel Resources updates on Iraq Interests
By John Lee. In its financial results for the six months ended 30th June 2020, Petrel Resources made the following statement on its interests in Iraq: "Petrel is active once more in Iraq after a hiatus since 2010 due to political and financial instability. We negotiated a large exploration block, Block 6, in the Western […]
Iraq Bans Foreign Arbaeen Pilgrims over COVID-19 Fears
By John Lee. Iraq's Higher Committee for Health and National Safety has decided to "ban the entry into Iraq of visitors from all countries". The move is an attempt to combat the coronavirus (Covid-19). This will create problems for religious pilgrims hoping to attend the Shi'ite Muslim gathering of Arbaeen, held in early October, which […]
French Development Agency may open office in Baghdad
By John Lee. France has proposed the opening of a branch of the French Development Agency (Agence française de développement, AFD) in Baghdad. The idea was discussed at a meeting between the Head of Iraq's Europe Department, Ali Shamran, and Abdel Nour Barhami, the economic advisor at the French embassy in Baghdad. (Source: Ministry of […]