New Oil & Gas Blocks to be offered
By John Lee. Iraq has invited international oil companies (IOCs) to bid for contracts to explore and develop nine new oil and gas blocks. The blocks are along the borders with Iran and Kuwait, with one located in the territorial waters. According to Reuters, the bidding terms will be finalised by the end of May, […]
Iraq plans New Bond Issue in 2018
By John Lee. Following Iraq's successful return to the bond markets earlier this year, it is now reportedly planning a $2 billion sovereign bond issue in 2018. The Governor of the Central Bank of Iraq (CBI), Dr. Ali Mohsen Ismail Al-Allaq [Alak] (pictured), told Reuters that the plan is currently awaiting parliamentary approval. He added […]
Trade Bank of Iraq to establish Saudi branch
By John Lee. The state-owned Trade Bank of Iraq (TBI) has reportedly received verbal approval from the Saudi Arabian Monetary Authority (SAMA) to open a branch in Saudi Arabia next year. Chairman Faisal Al Haimus told The National in Abu Dhabi that the bank will launch an asset management business in Abu Dhabi. The lender […]
New Pipeline to Export Kirkuk Oil via Ceyhan
By John Lee. Iraq's Oil Ministry has announced that it will build a new pipeline from Baiji to Fishkabur, enabling Kirkuk oil to be exported again from Turkey's Ceyhan port (pictured). Kirkuk’s oil was previously being exported via the Kurdistan Regional Government’s (KRG) pipeline to Ceyhan, but this has been on hold since Baghdad took […]
Inherent Resolve Strikes Target ISIS in Syria, Iraq
U.S. and coalition military forces have continued to attack the Islamic State of Iraq and Syria yesterday, conducting 11 strikes consisting of 36 engagements Nov. 24 and 25, Combined Joint Task Force Operation Inherent Resolve officials reported today. Officials reported details of the most recent strikes, noting that assessments of results are based on initial […]
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 […]
Fear of Extinction pushes Basra’s Christians to Isolation
By Saad Salloum for Al Monitor. Any opinions here are those of the author, and do not necessarily reflect the views of Iraq Business News. Shiites around the world celebrated the Arbaeen holiday Nov. 9. This year, Christians in Iraq participated in the Shiite ritual to attest to the coexistence and social interaction between the Christian […]
UNFPA scales up Response after Iraq Earthquake
In the aftermath of the powerful earthquake that struck the Iraq-Iran border on 12 November, UNFPA has scaled up its emergency response to meet the needs of women and girls. The 7.3 magnitude earthquake struck the border region between Iraq and the Islamic Republic of Iran, 30 km southwest of Halabja in Iraq. According to […]
Video: Iraq launches final sweep to flush out IS
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq launches final sweep to flush out IS: Watch on YouTube
Military Strikes Continue Against ISIS Terrorists in Syria, Iraq
U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria, conducting 10 strikes consisting of 14 engagements Nov. 10-23, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of the strikes, noting that assessments of results are based on initial reports. Strikes in Syria Yesterday near […]
GE signs $400m Contract for 14 Electric Substations
The Iraqi Ministry of Electricity (MoE) has signed an agreement worth over $400 million with GE Power (NYSE: GE) to develop 14 electric substations on a turnkey basis and supply critical equipment such as transformers, circuit breakers and other outdoor equipment to rehabilitate existing substations and bring much-needed power to areas facing significant electricity shortages […]
Abadi Promises War on Corruption
Iraqi Prime Minister Haider al-Abadi has warned "the corrupt ones against playing with fire" as he pledged to fight corruption in state institutions, saying "the coming war will be against the corrupt ones." In his weekly press conference, Abadi stressed the need for "a comprehensive economic reform in both public and private sectors." "The corrupt […]