Chinese Firm Wins $210m Construction Contract in Erbil

2020-11-24 01:54:35
By John Lee. The China Machinery Engineering Corporation (CMEC) has announced that it been awarded the contract to build the Harir cement plant in Erbil. According to a stock exchange filing, the contract is valued at approximately $210 million, and the project is expected to be completed within 30 months. (Source: CMEC)
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Germany's New EUR 10m Contribution to Iraq

2020-11-24 01:53:00
New €10m contribution from Germany expands UNDP Iraq's Coronavirus response into 15 governorates German Government's KfW Development Bank and the United Nations Development Programme (UNDP) in partnership with the Government of Iraq, have today signed a EUR 10 million agreement (US$11.75 million) to support Iraq's response to COVID-19. The contribution was made by the German […]
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China to help Build 1,000 New Schools in Iraq

2020-11-24 01:52:10
By John Lee. Iraqi Prime Minister Mustafa al-Kadhimi met on Sunday with the Supreme Committee for Building Schools in Iraq. During the meeting, they discussed the launch of a project to build 7,000 new school buildings across the country. The first phase of the project will be the construction of 1,000 new schools following a […]
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Management Buyout at Intellect Code

2020-11-24 01:50:50
By John Lee. Erbil-based Intellect Code, which specialises in advertising, marketing and market research, has announced the acquisition of 100 percent of the company's shares by Ahmed Gorani, who is the current CEO of the company. A statement from the company said that Mr Gorani bought the shareholdings of his partners Mohamed Emad and Waleed […]
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Successful IBBC Conference in Dubai

2020-11-23 11:58:29
IBBC's 5th Annual Iraq Conference in Dubai - Opportunity in Adversity The Iraq Britain Business Council (IBBC) was much praised at its conference on Thursday for pioneering in COVID-19 times by bringing together senior officials from Iraq, the UAE and the UK, prominent international and Iraqi businessmen, bankers and professional advisers as speakers and over […]

GKP Shares Rise as Workover Completed

2020-11-23 11:58:21
By John Lee. Shares in Gulf Keystone Petroleum (GKP) were trading up 5 percent on Monday morning as the company announced that the planned workover on the SH-12 well has been completed safely. Jón Ferrier (pictured), Gulf Keystone's Chief Executive Officer, said: "We continue to successfully manage the challenging macro backdrop and make operational progress. […]

China to Buy of Exxon's stake in West Qurna?

2020-11-23 01:54:07
By John Lee. The China National Petroleum Corporation (CNPC) and China National Offshore Oil Corporation (CNOOC) are reportedly considering acquiring Exxon Mobil's remaining stake in Iraq's West Qurna 1 oilfield. According to sources cited by Bloomberg, the stake could fetch more than $500 million. ExxonMobil originally had a 60% stake in the field, but sold […]

Cabinet authorises Contract for Automating Customs Procedures

2020-11-23 01:53:58
By John Lee. At a meeting last week under the chairmanship of Prime Minister Mustafa Al-Kadhimi, the Iraqi Cabinet agreed to: Approve the draft Pension and Social Security Law and refer it to Parliament. The draft law aims to give the same pension, social security and other rights to workers in the private sector as […]

Int'l Architectural Competition to Rebuild Al-Nouri Mosque

2020-11-23 01:52:57
UNESCO launches an international architectural competition to rebuild Al-Nouri mosque UNESCO calls on talents around the world to participate in an exclusive International Architectural Competition for the reconstruction and rehabilitation of the Al-Nouri Mosque Complex, funded by the United Arab Emirates (UAE), in the Iraqi city of Mosul. Joining the initiative "Revive the spirit of […]

Will Biden chart new course for US Policy in Iraq?

2020-11-23 01:51:16
By Dr Renad Mansour for the Royal Institute for International Affairs (Chatham House). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. When Donald Trump became US president, Iraq was on the verge of defeating ISIS and heading towards stabilisation - as he leaves office, […]

Iraq Falls in Prosperity Index

2020-11-22 01:52:07
By John Lee. Iraq has fallen one place in this year's Legatum Institute Prosperity Index, ranking in 137th place out of the 167 countries measured. The Index consists of 12 pillars of prosperity, built upon 66 actionable policy areas (elements), and is underpinned by 294 indicators. Denmark, Norway and Switzerland took the top three positions. […]

Will Biden Avoid the Barzani Trap in Iraq?

2020-11-22 01:51:08
By Michael Rubin, resident scholar at the American Enterprise Institute, for 1001 Iraqi Thoughts. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Will Biden Avoid the Barzani Trap in Iraq? There has never been a U.S. president-elect more well-versed in Kurdish affairs than Joe […]

BISI and Friends of Basrah Museum to Merge

2020-11-21 01:53:49
By John Lee. The British Institute for the Study of Iraq (BISI) and the Friends of Basrah Museum (FOBM) have announced that they are to merge. This follows the successful culmination of a decade-long project, championed by FOBM, to open a new museum in Basra to celebrate and conserve the heritage of southern Iraq. Under […]

US continues to fund GBV Prevention in Iraq

2020-11-21 01:52:26
UNHCR welcomes the new generous contribution from the U.S. Department of State's Bureau of Population, Refugees, and Migration towards UNHCR's Gender Based Violence (GBV) prevention and response activities for internally displaced persons, returnees, and refugees in Iraq. GBV remains a major area of concern to UNHCR and is generally underreported due to social stigma, fear […]

IRGC Eyes Naval Cooperation with Iraq

2020-11-21 01:51:57
The commander of the Islamic Revolution Guards Corps (IRGC) Navy has voiced his readiness for military cooperation with Iraq in the naval industries. In a Sunday meeting in Tehran, Iraqi Navy Commander Rear Admiral Ahmed Jassim al-Ma'arij and Commander of the IRGC Navy Rear Admiral Ali Reza Tangsiri discussed the regional developments and ways for […]

Biden "Unlikely to Turn Back in Iraq"

2020-11-20 18:55:39
By Al Monitor staff. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Biden unlikely to turn back in Iraq Former Secretary of Defense Chuck Hagel says Biden knows Iraq "as well or better than just about anyone." Click here to read the full […]

COVID-19's impact on Social Cohesion in Iraq

2020-11-20 18:55:07
COVID-19's impact on Social Cohesion in Iraq cannot be ignored in recovery efforts: New report The impact of COVID-19 on social cohesion in Iraq represents yet another challenge faced by communities across the country and must be addressed to ensure Iraq's full recovery from the pandemic, according to a new report released today by the […]

Iraq-Saudi Border Crossing Reopens after 30 years

2020-11-19 00:50:19
By Al Monitor staff. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq-Saudi border crossing reopens after 30 years The Arar border crossing linking Iraq and Saudi Arabia has reopened for trade after a 30-year closure, Iraq's border authority said Wednesday. The Saudi-Iraqi border […]

Iraq Pushes Faw Refinery Project

2020-11-19 00:50:06
By John Lee. The Iraqi Ministry of Oil has invited international companies to participate in the competition to implement the Faw Refinery Project in Basra. The project will be offered on a BOO (Build, Own, Operate) or BOOT (Build, Own, Operate, Transfer) basis. Oil Minister Ihsan Abdul Jabbar Ismail said the refinery will be environmentally […]

Fmr Australian Exec Arrested over Alleged Iraq Bribery

2020-11-19 00:49:53
By John Lee. The Australian Federal Police (AFP) has made one arrest, and issued a further two arrest warrants, following an investigation into alleged improper payments made by Singapore-registered Leighton Offshore Pty Ltd, regarding two contracts with Iraq Crude Oil Export in 2010 and 2011. The Sydney Morning Herald names the arrested suspect as Russell […]

COVID, Low Oil Prices, push Millions of Iraqis into Poverty

2020-11-19 00:49:48
COVID-19 and Low Oil Prices Push Millions of Iraqis into Poverty The twin shocks of COVID-19 pandemic and the collapse of oil prices have caused significant economic challenges and pushed millions of Iraqis into poverty, according to the new issue of the World Bank's Iraq Economic Monitor. The new Fall 2020 edition of the Iraq […]

Amnesty: Mass Execution of 21 Individuals "an Outrage"

2020-11-19 00:49:44
By Amnesty International. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Mass execution of 21 individuals is an outrage Responding to the execution on Monday of 21 individuals in Iraq, including individuals allegedly affiliated to the Islamic State (IS) and convicted of terror-related charges, […]

KRG to Prioritise Private Enterprise

2020-11-18 00:32:01
By Padraig O'Hannelly. A major conference has heard that Iraqi Kurdistan will prioritise a shift towards private enterprise and a more efficient public sector. In his keynote speech to CWC/GFEn's Kurdistan Iraq Economic Forum (KIEF) conference, held online, Kurdistan's Deputy Prime Minister, Qubad Talabani (pictured), said: "We must create an environment to let the private sector […]

More than 16,000 Ghost Workers removed in Kurdistan

2020-11-18 00:31:55
By Padraig O'Hannelly. The Kurdistan Regional Government's (KRG) biometric registration program is claimed to have removed more than 16,000 'ghost workers' from the state's payroll. Addressing the CWC/GFEn's Kurdistan Iraq Economic Forum (KIEF) online conference, Kurdistan's Deputy Prime Minister, Qubad Talabani, said: "Building on phase one of our biometric registration program, where every wage-earner was enrolled, […]

Iran, Iraq may Cooperate on Military Helicopters

2020-11-18 00:31:51
Commanders Discuss Iran-Iraq Interaction in Helicopter Industry Ranking army generals from Iran and Iraq weighed plans to promote cooperation between the two neighbors in the field of military helicopters. Commander of the Iranian Army Ground Force's Airborne Division General Yousef Qorbani and his Iraqi counterpart General Samir Zaki Hussein met in Tehran on Sunday. The […]

HRW: "No Justice for Enforced Disappearances"

2020-11-18 00:31:44
By John Lee. Iraqi authorities should fulfill a commitment to locate victims of enforced disappearance and ensure that those responsible are held accountable, Human Rights Watch (HRW) said on Monday. Since taking office in May 2020, Prime Minister Mustafa Al-Kadhimi announced that his government was creating a new mechanism to locate victims of enforced disappearances, […]

Int'l Financial Alliance forms to Help Iraq

2020-11-17 00:55:23
By Salam Zidane for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. International financial alliance forms to help Iraq Several countries are forming an economic alliance to help Iraq in its financial crisis. Click here to read the full story.

Ummet Al Salam wins $920k Contract in Diyala

2020-11-17 00:55:17
By John Lee. Ummet Al Salam Co. Ltd. for General Trading & Contracting has won two contracts with the United Nations Office for Project Services (UNOPS): Rehabilitation of Internal Roads in in Al Khaless in Al Mansouriah District, Diyala Governorate. Contract worth $680,000; Supply and installation solar street lights in in Al Khaless in Al […]

Iraq Reparations to Kuwait Extended to 2022

2020-11-17 00:55:12
By John Lee. The United Nations Compensation Commission (UNCC), which was established to pay compensation for losses and damage as a direct result of Iraq's unlawful invasion of Kuwait in 1990, has made available $230 million to the Government of Kuwait towards the Commission's remaining claim with an outstanding award balance. With this payment, the […]

US threat to shutter Baghdad Embassy 'Ongoing'

2020-11-17 00:55:05
By Al Monitor staff. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. US threat to shutter Baghdad embassy 'ongoing,' says Syria envoy Outgoing US Syria envoy James Jeffrey says the State Department's threats to close the US Embassy in Iraq is "very serious." […]