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 […]
Kuwaiti Investor plans $58m Project in Basra
By John Lee. A Kuwaiti businessman is reportedly planning to grow 100,000 date palms and build a nature reserve complete with ostriches and deer in southern Badia, 150 km from the city of Basra. According to Reuters, Abdul-Aziz al-Babtain is investing $58 million in the project, which will see the palms grown over the next […]
IBBC, RUSI brief on Iraqi Election Results
The Iraq Britain Business Council (IBBC) has held an event in partnership with the Royal United Services Institute (RUSI) on ‘The Iraq Election Results: what next for Iraq’s political stability?’. The panel event, in partnership with the Royal United Services Institute gave an initial assessment of the Iraqi election result and commented on the early […]
Rosneft, KRG sign Gas Development Agreement
As part of the XXII St. Petersburg International Economic Forum, Rosneft and the Kurdistan Regional Government of Iraq signed an agreement securing the intention of the Parties to make a detailed analysis of potential gas cooperation options. The Parties ensure stepwise implementation of the arrangements following the Investment Agreement signed at the XXI St. Petersburg […]
ZhenHua signs East Baghdad Deal
By John Lee. China's ZhenHua Oil [Jinhua] has signed a service contract to develop the southern part of the East Baghdad oil field. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] said that the signature of the contract was significant for Baghdad because it is the first project in the capital. The development of the field […]
US in ‘Wait and See’ Position After Iraq Election
The victory of Shiite cleric Moqtada al-Sadr’s party in Iraq’s recent election has put the United States in a wait-and-see position, Defense Secretary James N. Mattis told reporters yesterday in Colorado Springs, Colorado. The secretary was in Colorado to preside at the change-of-command ceremony for North American Aerospace Defense Command and U.S. Northern Command. “History […]
Legislators call for Canceling Election Results
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Many Iraqi legislators call for canceling election results On May 21, a group of Iraqi parliament members submitted a request to the speaker to cancel the results of the May 12 […]
Mosul Dam Engineer may be Rescued
By John Lee. Reuters reports that Bain Capital Credit has been chosen for a 900-million-euro ($1.06 billion) deal to rescue the heavily-indebted Italian engineering firm Trevi. Among Trevi's current projects is the stabilisation of Iraq’s Mosul Dam. More here from Reuters. (Source: Reuters)
Can Sadr swing Nonsectarian Government?
By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. After the Sairoon (On the Move) Alliance emerged victorious in the May 12 Iraqi elections, its leader, Muqtada al-Sadr, has been seeking meetings with the leaders of the other top-vote-getting alliances to discuss the possibility of forming the […]
Coalition Trainers in Iraq Helping ‘Make a Good Force Better’
Coalition Trainers in Iraq Helping ‘Make a Good Force Better’ The coalition training effort in Iraq is all about “making a good force better,” said Italian army Brig. Gen. Roberto Vannacci, the deputy commanding general for training for Operation Inherent Resolve's Joint Forces Land Component Command in Iraq. Iraqi security forces continue to press the […]
Market Review: Elections, the Economy and the Stock Market
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. Market Review: The Elections, the Economy and the Stock Market A key aspect of the Iraq investment opportunity is arbitraging the delta between real and […]
Rosneft Discovers Oil at Block 12
By John Lee. Bashneft, a subsidiary of Russia's Rosneft, has found oil at its Salman-1 exploratory well at Block 12 in Iraq. In a statement, the company said that an exploration well was successfully drilled to depth 4,277 metres; oil was found, "which gives grounds for expecting the discovery of industrial reserves". Rosneft said it […]