By John Lee. According to a report from the International Monetary Fund (IMF), the fall in oil prices since mid-2014 is expected to shift the current account balance from a surplus of 1 percent of GDP in 2014 to a deficit of 7 percent of GDP in 2015 and 6 percent of GDP in 2016. […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. It's been two months since Kurdish fighters recaptured the town of Sinjar from the Islamic State of Iraq and the Levant (ISIL). But for the ethnic Yazidis driven out in 2014, the possibility […]
Ooredoo is expanding its mobile financial services (MFS) following the launch of AsiaHawala exclusively with Asiacell, part of Ooredoo Group, in December 2015. AsiaHawala is the first-ever mobile money service provider to launch in Iraq, licenced by the Central Bank of Iraq. The service enables Asiacell customers to make a number of Mobile Money transactions […]
The National Investment Commission (NIC) has announced two new investment opportunities: Hotel, residences and offices in Basra Development at Aljawadain Holy Shrine
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Conflict Currency: Fear That New 50,000 Dinar Notes Will Hurt Low Income Iraqis Iraq's Central Bank has issued new 50,000 dinar notes. But it could have a particularly negative impact […]
The Managing Director of the International Monetary Fund (IMF) approved a Staff-Monitored Program (SMP) for Iraq covering the period of November 2015-December, 2016, on which the authorities and staff had reached ad-referendum agreement in November 2015 (see Press Release No. 15/509). Iraq is facing a double shock arising from ISIS attacks and the sharp drop […]
U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported on Thursday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Bomber and remotely […]
The Czech Republic has contributed US$200,000 to UNDP’s Funding Facility for Immediate Stabilization (FFIS) which channels fast-track support to help rehabilitate civic infrastructure, kick-start local economies, boost government capacity and promote community reconciliation. UNDP Resident Representative and UN Resident and Humanitarian Coordinator for Iraq, Ms. Lise Grande said: “The generous contribution from the Czech Republic comes at a […]
By John Lee. According to a report from the International Monetary Fund (IMF), the external outlook for Iraq has worsened since the latest Article IV consultation assessment (May-June), mainly owing to a further weakening of global oil prices. The analysis finds: "Lower capital spending on the back of falling oil revenue is expected to contract […]
By Rebecca Bradshaw for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Despite IS threat, Iraqi Kurdistan tries to lure tourists Until the beginning of 2014, the Kurdistan Regional Government’s (KRG) fledgling tourism industry was growing at an impressive pace. Domestic and international investment was on […]
As a necessary step after the liberation of Shingal district mid November 2015, the Ministry of Interior of the Kurdistan Regional Government (KRG), Joint Crisis Coordination Centre (JCC) has conducted a rapid damage assessment on the early recovery needs for the town of Shingal. On the 13th of November 2015, the Peshmerga forces, supported by […]
Prime Minister Nechirvan Barzani yesterday received Mr. Marco Carnelos, Italy's ambassador to Iraq, accompanied by a diplomatic and military delegation. Mr. Marco Carnelos reiterated his country’s commitment to continue providing military and humanitarian aid to the Kurdistan Region. He commended the Peshmerga forces of the Kurdistan Region for their role in defending all the citizens […]
