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KRG Approves Reforms to Kurdistan Tax System

KRG Prime Minister Masrour Barzani and Deputy Prime Minister Qubad Talabani chaired a meeting of the cabinet on Wednesday to discuss implementing best practice for the taxation system of the Kurdistan Region. The ministers reviewed an internal pilot project tasked with developing a new legal and auditing framework. The framework updates current auditing practices and […]

Palestine asks to Import Fuel from Iraq

By John Lee. The Palestinian Authority has reportedly filed a formal request to Israel to allow the import of fuel from Iraq. Palestinian Prime Minister, Mohammed Shtayyeh, told Israel’s Haaretz newspaper that although the request was made four months ago, Israel has yet to respond. He said: “Fuel is our biggest expense … The cheaper […]

Trump “Reiterates Support for Iraq”

As a part of his meetings with a number of leaders and heads of State, President Salih held in-depth talks with US President Donald Trump on Wednesday, on the sidelines of the World Economic Forum (WEF) in Davos. The President stressed the need to intensify international efforts to establish international and regional security and stability, […]

GKP Plans 30% Year-on-Year Growth

Gulf Keystone Petroleum (GKP) has issued an operational and corporate update in advance of the Company’s full year 2019 results which are scheduled to be released on 26 March 2020. Operational Average gross production for 2019 of 32,883 barrels of oil per day (“bopd”), meeting original 2019 gross production guidance. Current production rates from the […]

Iraq may Stop Iran Gas Transfers if US Waiver Ends

By John Lee. The head of Trade Bank of Iraq (TBI) has reportedly said that the bank would stop processing payments for Iranian gas imports if a US sanctions exemption expires next month. Faisal al-Haimus told AFP: “As a bank, the most important thing we have is that we are compliant (with international regulations). That’s […]

Snr NATO Official meets Iraqi Deputy FM

On Tuesday, the NATO Assistant Secretary General for Operations Dr. John Manza and his delegation met with the Deputy Minister of Foreign Affairs of the Republic of Iraq Mr. Abdul Karim Hashim Aboualgus and his team. The Deputy Minister and Dr. Manza discussed the current state of the NATO Mission in Iraq and cooperation between […]

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BP “Pulls Out” of Kirkuk Oilfield

By John Lee. BP has reportedly finished its work at Iraq’s giant Kirkuk oilfield. According to Reuters, sources confirmed that the decision followed the expiration of its $100-million exploration contract at the end of December, at which point there was no agreement on the field’s expansion. It quotes a source at BP as saying: “In […]

New Factory Creates Jobs for Women in Halabja

By John Lee. A recently established tote bag factory has reportedly created jobs for 25 women in the Kurdistan Region’s Halabja. According to Rudaw, the initiative aims to promote alternatives to plastic, and is part of the “Green City Halabja” campaign, run by the NWE NGO and partially funded by the German Consulate and WADI […]

Airlines Continue Using Iraqi and Iranian Airspace

Qatar Airways, Emirates and several other Persian Gulf airlines still fly in Iranian and Iraqi airspace and to cities in both countries since Iran and the United States traded military strikes. “Iranian airspace is important for all carriers in this region,” said Adil al-Ghaith, Emirates’ senior vice president, commercial operations, Persian Gulf, Middle East and […]

Iraq a “Potentially Vulnerable” Energy Supplier

By John Lee. The International Energy Agency (IEA) has warned that Iraq is a “potentially vulnerable” energy supplier. In its Oil Market Report, it says that in the medium term, “heightened security concerns might make it more difficult for Iraq to build production capacity“. More here. (Source: IEA)

Video: Iraqi Youth Angry at Slow Pace of Reform

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq protests swell with youth angry at slow pace of reform Protests escalated across Iraq’s capital Baghdad as demonstrators sealed off streets with burning tyres in outrage at the government’s slow pace of reform. […]