The latest corruption news from Iraq – company or government bribes, theft, stealing – brought to you by Iraq Business News
We reported recently on the excessive salaries and expenses being drawn by Iraq's parliamentarians -- it now seems the country has run out of money to pay for widows' benefits, farm crops and other programs for the poor. According to Associated Press, in only the parliament's fourth session since being elected in March, its members […]
As Iraq's politicians continue to haggle over the formation of the next government, the World Bank has issued its latest Doing Business 2011 report, and the incoming administration would do well to read it. Consider the following: Out of 183 countries monitored, Iraq ranks 166th, behind even Haiti and Zimbabwe; No business regulation reforms have […]
Swedish truck maker Scania paid $5 million in kickbacks through the U.N.'s oil-for-food program in Iraq, possibly violating both U.S. and Swedish laws, an anti-corruption investigator said on Friday, according to a report from Associated Press. Swedish prosecutor Nils-Eric Schultz told the agency he is preparing to file charges in Sweden against several company officials […]
According to a report from Associated Press, Iraq's 325 members of parliament have collected their $90,000 stipends, are claiming $22,500 a month in salaries and allowances, and are spending free nights in Baghdad's finest hotel. That's what they get for attending the only session of parliament since the March elections, a session that lasted about […]
Federal authorities say a U.S. Army engineer took hundreds of thousands of dollars in bribes for funneling Iraq reconstruction contracts to friends, building a $1.1 million mansion with the proceeds. John Alfy Salama Markus, 38, was arrested at his home on Wednesday and charged in New Jersey with money laundering and conspiracy to commit bribery […]
By Tariq Abdell, Founder & Chairman, Mesopotamia Insight. The opinions expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News. The absence, thus far, of a democratically elected and accountable government -- over six months of political horse-trading -- underscores Iraq's fragile democracy that is exacerbated by […]
ABB, the Swiss-Swedish engineering group, has agreed to pay more than $58m to settle criminal and civil charges in relation to alleged payment of bribes and kickbacks in Mexico and Iraq. The Swiss-Swedish engineering group was charged by the US with conspiracy and violating the Foreign Corrupt Practices Act. Prosecutors alleged that ABB and its […]
Further to our report yesterday on the police raid on CNPC's al-ahdab oilfield, Iraq's Oil Ministry said on Tuesday that security forces had violated the law, and expressed concern for the affect it could have on foreign investment in the oil sector. "Oil sites and facilities are under the control of the Central Government and […]
A media department official in Wassit Council said on Sunday that they had expelled executives from the Al-Ahdab oil field accusing them of embezzling public funds. Taha Hassan Abdul told AKnews that the decision came after a delegation from Wasit council including its deputy chairman visited the field, 30 km west of Kut, with a […]
AKnews quotes a media source in Najaf, 160km southwest of Baghdad, as saying that the municipality will set regulations for notification when public property is put up for sale, rent, or auction. A recent report from the Services Commission highlighted a lack of public notification when state property comes up for sale or rental which […]
South African President Jacob Zuma said there are no legal means to prosecute traders for paying bribes to win Iraqi oil contracts under the United Nations’ oil- for-food program that operated before 2003, according to a report from Bloomberg. Zuma closed an investigation into trader Sandile Majali, citing loopholes in local laws. Majali was named […]
Seven years after the invasion that ousted Saddam Hussein, Iraq largely has been unable to revamp business laws that would help make the country more attractive to investors, according to a report from Bloomberg. “Investors still note security concerns, but now are more likely to cite regulatory hindrances and other practical barriers to doing business,” […]
