Market Review: “Of Banks and Budget Surpluses”
By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Activity in the economy at large, and the market in particular, came to a virtual standstill at the start of the month as it coincided […]
US Lawmakers Visit Baghdad, Erbil, and Mosul
U.S. Senators Lindsey Graham, Jeanne Shaheen, and Elizabeth Warren visited Iraq July 1-4 to meet with senior Iraqi government and security officials and to observe Iraq’s stabilization efforts following the military defeat of ISIS. Senators Graham and Shaheen spent July 1-2 discussing Iraq’s cooperation with the Global Coalition to Defeat ISIS with U.S. and Iraqi […]
Iraq "in Talks" with Turkey, KRG over Kirkuk Exports
By John Lee. Iraqi Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has said that Iraq is still in talks with Turkey and Kurdish regional authorities to resume exports of Kirkuk crude oil through the Turkish port of Ceyhan (pictured). He said that production from Kirkuk is currently 220,000 bpd, which is entirely used by local […]
Iraq no longer subject to FATF Monitoring
By John Lee. The Financial Action Task Force (FATF) has congratulated Iraq for the significant progress made in addressing the strategic deficiencies in the areas of anti money laundering (AML) and countering the financing of terrorism (CFT) identified earlier by the FATF and included in its action plan. Iraq will no longer be subject to […]
Iraqi Red Crescent provides Assistance in Mosul
One year after the events of Mosul ended in July 2017, the Iraqi Red Crescent teams continue to provide humanitarian assistance to the residents inside the city or to the displaced who face some challenges to return to their homes after their homes have been damaged. After thousands of houses were destroyed, roads and bridges […]
EU Supports Conflict-Affected Iraqi Families
Vulnerable farming families in post-conflict areas in Iraq's Ninewa plains, west of Mosul, will be able to better withstand shocks thanks to a European Union-funded UN Food and Agriculture Organization (FAO) project that aims to increase household income while building, repairing and maintaining local infrastructure and creating communal and public productive assets. The €6 million […]
Floating Oil Island for Iraq's Expected Spurt in Exports
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. Floating Oil Island will handle Iraq's expected Spurt in Exports The South Oil Co. (SOC) [possibly should be Basrah Oil Company (BOC), as per comment below, - Editor] […]
KRG and Iraqi Customs Duties to be Unified
By John Lee. Iraq and the Kurdistan Regional Government (KRG) will reportedly soon unify customs duties to streamline the system and prevent the double taxation of the Kurdistan Region’s businessmen. According to Rudaw, Erbil and Baghdad have two different customs fees, causing disputes between the two aresa. They previously reached a preliminary agreement on unifying […]
Investment Opportunity: Bentonite Mill
By John Lee. The National Investment Commission (NIC) has announced a new investment opportunity in Iraq: Rehabilitation and Operation of Bentonite Mill, General Company for Mining Industries (Source: National Investment Commission) (Picture: Business opportunity word cloud, from ibreakstock/Shutterstock)
Reconstruction: Reviving the Spirit of Mosul
Reconstruction and recovery in Iraq: Reviving the Spirit of Mosul The ‘Revive the Spirit of Mosul’ Initiative was presented on 30 June 2018 during the 42nd session of the World Heritage Committee. Launched by UNESCO Director-General Audrey Azoulay in February 2018, the Mosul Initiative is conceived in partnership with the Iraqi Government to integrate the […]
Oil Exports Rise in June
By John Lee. Iraq’s Ministry of Oil has announced interim oil exports for June of 105,640,160 barrels, giving an average for the month of 3.521 million barrels per day (bpd), an increase from the 3.490 bpd exported in May. These exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan. Revenues for […]
Oil Ministry Finalises Export Figures for May
By John Lee. Iraq’s Ministry of Oil has announced final oil exports for May of 108,175,920 barrels, giving an average for the month of 3.490 million barrels per day (bpd), an increase from the 3.340 bpd exported in April. These exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan. Revenues for […]