EU adopts €56m Reconstruction Package for Iraq
The European Union has adopted today a €56.5 million package to promote sustainable job creation and strengthen support to refugees, internally displaced populations and their host communities in Iraq. This brings the total EU development assistance mobilised in favour of Iraq in 2018 to €129 million and it is part of the €400 million pledged […]
Gas Imports from Iran Interrupted
By John Lee. Gas exports from Iran to Iraq have reportedly been interrupted as authorities in Iran repair pipeline damage caused during a recent earthquake. The gas is used for electricity generation, with the cut reducing available power by 2,500 megawatts (MW). Supplies are expected to be restored over the coming days. (Sources: Iraq Oil […]
Iraq Falls Again in Prosperity Index
By John Lee. Iraq has fallen one place in this year’s Legatum Institute Prosperity Index, ranking in 143rd place out of the 149 countries measured. The index ranks countries according to its nine pillars of prosperity: Economic Quality, Business Environment, Governance, Personal Freedom, Social Capital, Safety and Security, Education, Health and Natural Environment. Despite Iraq’s […]
Janus opens Operations Center in Mosul
By John Lee. Janus Global Operations (JGO) has reportedly opened an operations center in the east of Mosul. According to PRNewswire, the center will provide mobile and static security support for its commercial clients, coordinate the company's demining and explosive ordnance disposal teams, and perform other tasks to help restore stability to the area. The […]
WHO provides Urgent Support for Victims of Flooding
The World Health Organization (WHO) has conducted an urgent needs-assessment mission to Qayyarah’s Jadaa internally displaced person (IDP) camps in Ninewa governorate to assess the health situation of the population affected by the heavy rain which caused flash flooding in a number of IDP camps in the governorate. Tens of thousands of families have lost […]
Giving Tuesday: Choose Iraqi Kids!
It's here! #Giving Tuesday! Make a high impact gift to Iraqi orphans and vulnerable children today. How? $40,000 is available in matching funds for education, nutrition, legal protection, medical care, and psychosocial support for orphans, street kids, and displaced children. Donate $25, $50, $100, or more and get a 100% match PLUS, for every $25 donated, a girl or boy gets a gift […]
260+ attend IBBC Iraq Reconstruction Conference
IBBC welcomed 260+ delegates to Dubai to discuss ‘Iraq – Reconstruction & Rebuilding, how to deliver Vision’ with expert Industry, Government and International Organisations on 25th November Iraq Britain Business Council held its annual Autumn Conference in Dubai yesterday on the 25th November at the Address Dubai Marina in Dubai. The event hosted many speakers […]
GE, Standard Chartered, TBI close $600m Financing
By John Lee. General Electric (GE), Standard Chartered Bank and the state-run Trade Bank of Iraq (TBI) are reported to have jointly closed a $600-million financing agreement to fund the ambitious electricity project 'Power Up Plan' in Iraq. According to Trade Arabia, the project will be implemented in two phases, providing more than 2 gigawatts […]
How Water Scarcity could Destabilise the ME
Testing the water: How water scarcity could destabilise the Middle East and North Africa The Middle East and North Africa is the most water-scarce region in the world. Nearly two-thirds of the population there are living in areas that lack sufficient renewable water resources to sustain current levels of activity and growth, according to a […]
7m Sq Meters cleared of IS Explosives
Over seven million square meters in areas liberated from ISIS cleared of explosives The Iraqi Kurdistan Mine Action Agency (IKMAA) has cleared 7,414,199 square meters in areas liberated from ISIS of explosive devices and difused 43,057 IEDs and UXO pieces, said Siraj Barzani, Head of IKMAA, in an interview with the Kurdistan Regional Government website. […]
Iran-backed PMU Militias Raising Profile
By Shelly Kittleson for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. In Iraq, tension between the US-led coalition and armed groups linked to Iran has risen in recent months. For example, the United States sanctioned key representatives of Lebanese militant group Hezbollah on […]
Oil Ministry Finalises Export Figures for October
By John Lee. Iraq’s Ministry of Oil has announced final oil exports for October of 107,821,261 barrels, giving an average for the month of 3.478 million barrels per day (bpd), a slight decrease from the 3.560 bpd exported in September. These exports from the oilfields in central and southern Iraq amounted to 107,530,008 barrels, giving $7.898 […]