Ground-breaking Ceremony for Erbil Ring Road
Prime Minister Nechirvan Barzani attended the ground-breaking ceremony of the 150-meter ring road project of the city of Erbil. In a speech during the ceremony, Prime Minister Barzani said: “The 150-metre road project is one of many projects which were prepared for implementation by the Kurdistan Regional Government. If it had not been for hardships […]
Lawsuit Imperils Formation of Iraq National Oil Company
A coalition of Iraqi oil technocrats has filed a legal challenge against a law to re-establish the Iraq National Oil Company (INOC), which is likely to delay - if not derail - a major restructuring of the country's oil sector. Under the law, which took effect in April, the government has a six-month window to […]
New Investment Opportunities in Iraq
By John Lee. The National Investment Commission (NIC) has announced new investment opportunities in Iraq: Powder Milk Plant, General Company for Food Products Rehabilitation of factories, State Company for Petrochemical Industries Rehabilitation of factories, State Company for Glass and Refractories (Source: National Investment Commission) (Picture: Business opportunity word cloud, from ibreakstock/Shutterstock)
Video: Who can solve Iraq's Electricity Crisis?
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. This week, German conglomerate Siemens announced that it's in discussions to help rebuild and boost Iraq's power generation infrastructure. So, what are the challenges facing the new Iraqi government? Why can't one of […]
75 Iraqi Civilians Killed in September
A total of 75 Iraqi civilians were killed and another 179 injured in acts of terrorism, violence and armed conflict in Iraq in September 2018*, according to casualty figures recorded by the United Nations Assistance Mission for Iraq (UNAMI). The figures include ordinary citizens and others considered civilian at the time of death or injury, […]
US Evacuates Consulate in Basra
Due to concerns about the security of U.S. government personnel, on September 28, 2018, the Department of State ordered the departure of U.S. government personnel from the U.S. Consulate General in Basrah. In a statement, the State Department said: "Secretary of State Michael R. Pompeo [pictured] has made the determination to place Consulate Basrah on […]
Iran-Iraq Ferry Service Resumes
By John Lee. The Iraqi Ministry of Transport has that the ferry between Al-Ashar Quay on the banks of the Shatt al-Arab in Basra and the Iranian port of Khorramshahr has resumed after a three-year suspension. Forty-six passengers travelled on the first service on Saturday. The Director of the General Company for Maritime Transport, Abdul […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 27th Sept 2018). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD700 (-0.8%) / $748 (-0.6%) (weekly change) (-13.7% and -10.5% YTD change, respectively). The number of week traded […]
UK leads effort to boost Int'l Support for Iraq
Following a meeting hosted by the UK at the UN General Assembly, Minister for the Middle East Alistair Burt (pictured) has welcomed renewed commitments from international partners to support a strong stabilisation partnership with Iraq. Minister Burt said: "Today I hosted a roundtable on the future of Iraq with His Excellency Iraqi Foreign Minister Dr […]
New Zealand supports Explosive Hazard Mgt in Iraq
The United Nations Mine Action Service (UNMAS) welcomes a contribution of NZD 250,000 (USD 160,000) from the Government of New Zealand and is grateful for the deployment of an in-kind Improvised Explosive Device (IED) Threat Mitigation Advisor to support explosive hazard management activities in Iraq. Extensive conflict in Iraq involving the Islamic State of Iraq […]
Oil Production Resumes at Qayara
By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has announced the resumption of production at Qayara oil field in Nineveh province. The field has been rehabilitated following its destruction by the Islamic State group (IS, ISIS, ISIL, Daesh). It is currently producing 30,000 barrels of oil per day, with a plan to increase […]
GardaWorld Weekly Security Report
GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld's Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments […]