Netherlands Substantially Increases Support to Iraq
The Netherlands has contributed an additional USD 23.2 million (EUR 20 million) to UNDP’s Funding Facility for Stabilization (FFS), which finances fast-track initiatives to stabilize areas liberated from the Islamic State of Iraq and the Levant (ISIL). This brings the Netherlands’ total contribution to USD 65.4 million (EUR 57 million). Marta Ruedas, Deputy Special Representative […]
IRCS distributes Food Parcels in Tikrit
The Teams of the Iraqi Red Crescent distributes more than 500 food parcels for the families who have returned to their areas in Tikrit. The Iraqi Red Crescent Society (IRCS) has distributed more than 500 food parcels for the families who have returned to their areas in Tikrit district. ” The teams of the IRCS have […]
New Investment Opportunities in Iraq
By John Lee. The National Investment Commission (NIC) has announced new investment opportunities in Iraq: Textile and leather plants, State Company for Textile and Leather Industries Sulfur production, Mishraq Sulfur State Company Production of ethylene and high-densite polyethylene (HDPE), State Company for Petrochemical Industries Dextrin and starch production, State Company for Food Products Al-Qadisiya Brick […]
EU Supports Reproductive Health Services in Iraq
The EU Supports Reproductive Health Services in Iraq with a new contribution to UNFPA The European Union continues its support to UNFPA in Iraq through a EUR 5 million contribution to sustain reproductive health and clinical management of rape services across Iraq. The United Nations estimates that around 825,000 women of reproductive age are in […]
SOMO "Close to JV" with China's Zhenhua
By John Lee. Iraq's State Oil Marketing Organization (SOMO) is reported to be close to a deal with China's state-run Zhenhua Oil to boost its crude oil sales. According to Reuters, China is under pressure to cut oil purchases from Iran, as the United States re-imposes sanctions on Tehran. More here. (Source: Reuters)
Coalition Strikes Continue Against ISIS Targets
Combined Joint Task Force Operation Inherent Resolve and its partners continue to pursue the lasting defeat of the Islamic State of Iraq and Syria in designated parts of Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported today. Operation Roundup, which began May 1 to accelerate the defeat of ISIS in the […]
Agreement Expected with Kuwait on Joint Oil Fields, Gas Exports
By John Lee. Kuwait reportedly expects to reach agreement with Iraq on joint oil fields and the import of Iraqi gas by the end of this year. KUNA quotes Kuwait's Oil Minister and Minister of Electricity and Water Engineer, Bakheet Al-Rashidi, as saying: "We are in the process of selecting a global consultant to study […]
US Sanctions cause Big Losses for Iraqi Investors in Iran
By Salam Zidane for Al Monitor. Any views expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iranian economy has spiraled out of control since a new set of US-enforced sanctions against trade with Iran went into force Aug. 7, as its currency value has been plummeting ever since while inflation rates are […]
FLS to Transport Oil Pipes and Equipment to Iraq
By John Lee. Fleet Line Shipping (FLS) has won a contract to transport 11,000 tons oil and gas equipment and pipes from the United Arab Emirates (UAE) to Iraq. The first batch of pipe laying machines, each weighing 45 tons, was loaded on a ro-ro ship from Jebel Ali to the port of Umm Qasr […]
Basra Protests spark Govt Scramble to Create Jobs
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. The Iraqi Cabinet announced Aug. 12 that it has approved a regulation by the Ministry of Labor requiring that 50% of foreign oil company employees working in the country be Iraqis. The move followed […]
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 […]
Talks continuing on Iraq-Kuwait Electricity Link
By John Lee. Talks are reportedly continuing to complete the electricity linkage between Iraq and Kuwait. KUNA quotes Kuwait's Oil Minister and Minister of Electricity and Water Engineer, Bakheet Al-Rashidi (pictured), as saying: "We expect that these negotiations will ultimately lead to linking Iraq's electricity grid with the Gulf network and then link with Turkey […]