By John Lee. Sabotage and theft from pipelines has cost the Kurdistan Regional Government (KRG) an estimated $501 million (584 billion Iraqi dinars) since the start of July, the KRG's Ministry of Natural Resources said in a statement: "Persistent theft and attempted theft from the Iraq-Turkey crude oil pipeline in the southeast of Turkey continues […]
By John Lee. The lastest phase of the Iraqi heatwave is expected to peak on Thursday. Forecasters are expecting highs of 51 degrees Celsius in most southern cities, and 49 degrees in Baghdad. They are also expecting higher-than-usual humidity. The Iraqi government recently introduced a policy of declaring public holidays when temperatures exceed 50 degrees. (Source: […]
By John Lee. Imperial Tobacco Group, Europe’s second-biggest tobacco company, has reported that its revenues and profits for the nine months to the end of June were reduced by difficulties with its Iraq business. In a statement to the markets, the company said: "Underlying tobacco net revenue was flat but grew 1 per cent excluding […]
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 today. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Airstrikes in Syria Bomber and fighter aircraft […]
Russian oilfield services group ERIELL has signed a contract with LUKOIL Middle East to drill 25 production wells at the West Qurna-2 oilfield. “Company’s entry to the Iraq market marks the beginning of development of the Middle East region, which we deem extremely promising in terms of implementation of the ERIELL strategy of the contract portfolio […]
Emirates Airlines has announced that it will recommence passenger flights to Baghdad from 17 September 2015. The airline suspended operations in January of this year. Emirates will operate with four weekly flights to Baghdad, served by an A330-200 aircraft in a three class configuration. Sheikh Majid Al Mualla, Divisional Senior Vice President Commercial Operations, Centre […]
By Shwan Rahman. The Impact of Foreign Direct Investment on Legal Compliance in the Iraqi Oil and Gas Industry This study seeks to ascertain the causal link between the inflow of Foreign Direct Investment (FDI) and compliance with international law standards. The reasons why various Iraqi governments since 1958 have been very reluctant to open […]
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. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Airstrikes in Syria Fighter and remotely piloted aircraft […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Soaring temperatures and inadequate resources do little to discourage Iraq's internally displaced students from quitting school. Al Jazeera's Mohammed Jamjoom reports from the outskirts of Baghdad:
By John Lee. As part of his recently-announced reform programme, Prime Minister Haider al-Abadi has ordered the immediate reduction in the number of ministers from 33 to 22: In a statement on Sunday, the Prime Minister said that he has: Abolished the posts of Deputy Prime Minister. Abolished the following ministerial positions: Ministry of Human […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 13th Aug 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,27 (-1.0%) / $1,315 (-0.1%) (weekly change) (-9.8% and -11.2% YTD change, respectively). The number of week traded […]
By John Lee. The highest judicial authority in Iraqi Kurdistan has reportedly extended the term of KRG President Massoud Barzani (pictured) for two more years. The Judicial Council of the Kurdistan Region said that Barzani will remain in his post until the 2017 KRG general election. According to the report from BasNews, Kurdish political parties […]
