Iraq Business News brings you the latest news from Erbil, Kurdistan, Iraq – including Banking, Airlines, Hotels, Property and more.
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Many Christian families have fled ISIL seeking refuge in other areas in Iraq. Erbil shelters many internally displaced people, including an unfinished mall which houses 400 families. Aidah Nouh is not the only […]
GE (NYSE: GE) has signed a contract with ENKA to supply power generation equipment for a new 750-megawatt (MW) combined-cycle plant being developed by Qaiwan Group in Iraq. GE will provide four 9E gas turbines and one steam turbine for a new power plant in Sulaimaniyah to support the government’s goal of strengthening the electricity […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. French expats in Erbil, Iraq, say they try to lead a normal life, despite threats against French citizens by the Islamic State. At the French school here, the walls have been enhanced and armed […]
By John Lee. Turkish officials close to their country's energy policy have announced that a total of 8 million barrels of oil have been exported via the Turkish port of Ceyhan. According to officials, while some buyers have been deterred by legal threats from Baghdad, the number of buyers is in fact increasing. The Kurds […]
By Patrick Schmidt. Kurdistan Regional President Massoud Barzani has announced coming reforms for the Kurdish security forces, most famous for the Peshmerga. The reforms would bring all units under a single unified command. In the past, the Minister of the Peshmerga did not have control over all troops, and the force was in some cases […]
By Patrick Schmidt. The Kurdish Minister of Natural Resources, Ashti Hawrami (pictured) announced that the Kurdistan Regional Government (KRG) has sold 7 million barrels of oil on the international market. He remains confident that the KRG will win the ability to sell oil in the US markets. Currently, the KRG produces 300,000 barrels of oil per […]
By Patrick Schmidt. A Kurdish oil tanker has arrived at the Croatian port of Omisalj and is preparing to begin offloading its cargo in the coming days. This delivery represents a success for the Kurdish Regional Government (KRG) in finding a buyer for their crude following legal threats from Baghdad. These threats have previously deterred […]
By Patrick Schmidt. Following recent gains of Kurdish security forces, in addition to a recent setback in Jalawla in northern Diyala, American officials have hinted that various government agencies have begun supplying Kurdistan with weapons to fight the Islamic State of Iraq and the Levant (ISIL). To date, America has mostly focused its attention on […]
Statement by Pentagon Press Secretary Rear Admiral John Kirby on Airstrikes in Iraq At approximately 6:45 a.m. EDT, the U.S. military conducted a targeted airstrike against Islamic State of Iraq and the Levant (ISIL) terrorists. Two F/A-18 aircraft dropped 500-pound laser-guided bombs on a mobile artillery piece near Erbil. ISIL was using this artillery to […]
By John Lee. After renewed consultation with the relevant national security authorities, the Lufthansa Group has decided to resume flights to Erbil in northern Iraq from Monday. Erbil lies well outside the direct crisis zone in Iraq, and flights to and from the city will be routed to avoid overflying the zone. Lufthansa flies twice-weekly […]
By John Lee. A 51-year-old American has been charged in federal court with defrauding the co-founders and investors of a company out of approximately $175,000, relating to proposed investments in Iraq. Prosecutors in Connecticut assert that Joseph T. Morris claimed to have extensive military and business experience in Iraq, and was the company’s in-country manager […]
By Patrick M Schmidt. While the security situation in some parts of Iraq remains in flux, the north region of Kurdistan continues to attract foreign businesses as a promising location for investment. With a 12 percent growth in Gross Domestic Product (GDP) in 2012 and another 8 percent growth of GDP in 2013, Kurdistan’s economic […]
