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Asiacell to sell Mobile Phone Transmission Towers

By John Lee. Qatari mobile telecoms group Ooredoo is planning to sell its portfolio of transmission towers, which includes those owned by its Iraqi subsidiary Asiacell. Media sources suggest that this will be done on a sale-and-leaseback basis, and that the portfolio may be split by country. According to Reuters, Morgan Stanley is advising on […]

Petrel calls for Reform of Iraqi Oil Contracts

By John Lee. Petrel Resources has said that Iraq's Ministry of Oil should negotiate Production Sharing Agreements to replace the existing service contracts, as, "this would better align the interests of the parties, and create more wealth, value-added in downstream industries like refined products and petrochemicals, infrastructure and employment for Iraq." In its unaudited interim […]

Iraqi Parliament Speaker Resigns

By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi parliament speaker resigns Iraqi parliament speaker Mohammed al-Halbusi [Halbousi] (pictured) resigned from his post but is expected to be re-elected. Click here to read the full article.

Iraq Promotes Liquified Gas for Vehicles

By John Lee. The Undersecretary for Liquidation and Distribution Affairs at Iraq's Ministry of Oil, Hamid Younis, has said that the shift towards the use of liquified gas for vehicles is a strategic project for Iraq, which promotes sustainable development and supports the national economy, and is supported by the government and the Ministry. He […]

Italian Firm presents Plans for Major Iraqi Rail Project

By John Lee. Italian engineering consultancy Progetti Europa & Global S.p.A. (PEG) has met with the Secretary-General of Iraq's Council of Ministers, Dr. Hamid Naim Al-Ghazi, to discuss the rail project connecting southern and northern Iraq. At the meeting, the company gave a detailed presentation on the stages of feasibility studies, the proposed routes, the supporting […]

Moody's assigned Credit Ratings for National Bank of Iraq (NBI)

By John Lee. Moody's Investors Service has assigned first time local currency long-term/short-term deposit ratings of B3/NP for National Bank of Iraq (NBI), and foreign currency long-term/short-term deposit rating of Caa1/NP. At the same time, the rating agency has assigned a Baseline Credit Assessment (BCA) of caa2, Adjusted BCA of b3, as well as long-term […]

New Water Treatment Plant opened in Sinjar

The newly built Reverse Osmosis Water Treatment System in al-Qayrawan, Sinjar, has officially been opened with support from the United Nations Development Programme (UNDP), the United States Agency for International Development (USAID) and the Ninewa Governorate. The newly built water treatment system will provide uninterrupted access to clean drinking water to over 9,500 people living […]

EU Renews Support to UNITAD's Digitization of Evidence

The European Union renews its Support to UNITAD's Digitization of Evidence of ISIL crimes in Iraq The European Union (EU) extended its long-term commitment to justice and accountability with renewed support to the United Nations Investigative Team to Promote Accountability for Crimes Committed by Da'esh/ISIL (UNITAD). With this extension, the EU committed an additional €3.8 […]

Iraq: A Crisis of Elite, Consensus-Based Politics turns Deadly

By Haley Bobseine, for The Middle East Institute. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq: A crisis of elite, consensus-based politics turns deadly This article is the first in a three-part series on Iraq's political crisis. This piece analyzes the crisis […]

SOMO warns Int'l Companies not to buy Oil from KRG

By John Lee. Iraq's State Oil Marketing Organization (SOMO) has announced that it had taken "marketing measures" and informed all international companies not to buy crude oil from the Kurdistan Region of Iraq (KRI). SOMO Director, Alaa Al-Yasiri, also told the state-run Iraqi News Agency (INA): "The Federal Court issued a decision stipulating the invalidity […]

New Road Opened in Soran, Kurdistan

KRG Prime Minister Masrour Barzani has inaugurated the new Spilk-Khalifan highway in the Soran Autonomous Administration. The 8.5-km highway has been implemented at a cost of 64.2 billion Iraqi Dinars [$44 million]. At the inauguration ceremony, the Prime Minister described the highway as one of the many strategic projects aimed at enhancing the economic infrastructure […]