By John Lee. According to a report from Platts, South Korea's state-owned Korea Gas Corporation (KOGAS) plans to sell a 47 percent stake in its 100 percent-controlled Akkas gas field. The company is under pressure from the Korean government to reduce its debts. The project was originally awarded to a consortium of Kogas and KazMunaiGas […]
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. A Pipeline In The Pipeline: Can Exporting Natural Gas Save Iraqi Kurdistan? Beginning 2016 Iraqi Kurdistan will begin to build a new natural gas pipeline to Turkey. But analysts say […]
By John Lee. According to a report from the International Monetary Fund (IMF), the fall in oil prices is causing a sharp deterioration of Iraq's fiscal position. The analysis finds that the budget deficit increased from 6 percent of GDP in 2014 to 15 percent of GDP in 2015 and a projected 10 percent of […]
Kurdistan Regional Government (KRG) officials contiued their visit to Washington this week with meetings with Administration and defense officials, as well as senators and media organizations. The visit comes as falling oil prices, the responsibility of 1.8 million displaced people, and the ongoing war against ISIS have put tremendous financial strain on the KRG and […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. More than three million people have been forced from their homes by ISIL's onslaught in Iraq. Many live in deplorable conditions in camps where tents are collapsing under winter rains and some children […]
By John Lee. Prime Minister Dr. Haider Al-Abadi has inaugurated the new 500-MW Najibiyah gas power station in Basra province. The Prime Minister congratulated the citizens and the people of Basra on this important achievement which will increase the supply of electricity. Dr. Haider Al-Abadi said electric power is the lifeblood of the country and […]
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. No Vacancies: 7 Million Iraqi Govt Employees Fear For Their Jobs Locals employed by the government fear the financial crisis may see them lose their jobs. Nobody seems to be […]
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 […]
