Islamic State buying up Businesses in Iraq
By John Lee. The Islamic State group (IS, ISIS, ISIL, Daesh) has reportedly laundered its cash reserves by investing in legitimate businesses in Iraq and elsewhere. According to a report from The Economist, in Iraq it has used middlemen to buy farms, car-dealerships, hotels and hospitals. It adds that weak institutions and rampant corruption make […]
New Career Opportunities in Iraq
By John Lee. The United Nations has advertised new positions in Iraq: Evaluation of UN Women's Leadership, UN Women - United Nations Entity for Gender Equality and the Empowerment of Women Security and Humanitarian Access Coordinator, International Rescue Committee (IRC) Senior Child Protection Manager, International Rescue Committee (IRC) Nutrition Coordinator, International Rescue Committee (IRC) Humanitarian […]
New Career Opportunities in Iraqi Kurdistan
By John Lee. The United Nations has advertised new positions in Iraqi Kurdistan: Media Coordinator, Norwegian Refugee Council (NRC) Head of Programme, Norwegian Refugee Council (NRC) Monitoring and Evaluation Manager, Norwegian Refugee Council (NRC) Finance Controller, International Rescue Committee (IRC) Livelihoods Program Manager, International Rescue Committee (IRC) Operations Director, Mercy Corps Education Programme Manager, Save […]
"It’s Not the Donations, Stupid": Key Points from Kuwait Conference
By Ahmed Tabaqchali (pictured), 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. ‘It’s Not the Donations, Stupid’: Key Points from the Kuwait Conference With a few exceptions, the coverage of the “Kuwait International Conference for the […]
Qayara Refinery available for Investment
By John Lee. The Ministry of Oil has announced an opportunity to invest in a 100,000-bpd refinery at the Qayara field in Ninawa governorate. In a statement, the Ministry said: The execution is according to the methods of BOOT or BOO and according to the investment law of the refineries No.64 for the year 2007 […]
CEO Jailed for Fraud
The owner and chief executive officer of an armored vehicle company was sentenced today to 70 months in prison for his role in orchestrating a scheme to defraud the United States by providing the U.S. Department of Defense with armored gun trucks that did not meet ballistic and blast protection requirements set out in the […]
Iran to process Russian Wheat for Iraqi Flour Market
By John Lee. Iran is said to be negotiating a deal to import around 100,000 tonnes of wheat per month from Russia, enabling private millers it to increase flour exports to Iraq. Iraq imports about 3 million tons of flour a year, almost half of its demand of 6.9 million tons a year. According to […]
Pentagon Stops Budgeting for Peshmerga Salaries
By Jack Detsch for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Trump administration’s budget proposal for next fiscal year does not include peshmerga salaries even as the Pentagon aims to continue training the Kurdish force. The Department of Defense had requested $365 million in stipends […]
UNDP Iraq Launches Trilingual App
The United Nations Development Programme (UNDP) in Iraq launched a trilingual mobile application for iOS and Android to become the first ever UNDP Country Office to have such an application and one of a few within the UN community worldwide. UNDP Iraq’s Communications Unit led the development process of this application with support on information […]
Chevron Resumes Drilling in Kurdistan
By John Lee. Chevron has reportedly announced that it had resumed drilling operations at the Sarta-3 well in Iraqi Kurdistan. The US company temporarily suspended operations in October following the controversial independence referendum, which increased tensions between Baghdad and Erbil. According to Kurdistan 24, it currently operates and holds an 80-percent contractor interest in two […]
Abadi says Laws will Protect Foreign Investors
By John Lee. Prime Minister Haider al-Abadi has promised to crack down on corruption, and says laws will protect nervous foreign investors. He told CNBC: "We are laying down all the legal framework ... I think the worry is corruption, number one, which is hiding behind red tape and bureaucracy. We have established a higher […]
Baghdad keen to Restart Oil Exports through Turkey
By John Lee. Iraqi Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] is to visit Turkey this week to discuss expanding cooperation in the oil and energy sector. Among the topics for discussion will be the possible restarting of oil exports via the Turkish port of Ceyhan (pictured), and the export the Iraqi oil “by SOMO company […]