On Tuesday, the Export-Import Bank of the United States (EXIM) entered into a memorandum of understanding (MOU) with Iraq’s Ministry of Finance aimed at rebuilding Iraq and enhancing trade and economic cooperation between the two countries. EXIM’s Acting Vice Chairman Scott Schloegel signed the MOU today with Iraq’s Deputy Finance Minister Dr. Maher Hammad Johan […]
By John Lee. Saudi Arabia will reportedly re-open its consulate in Basra within two weeks. Al Arabiya says that the consulate closed in 1990 during the second Gulf war. (Source: Al Arabiya) (Picture: Iraqi Prime Minister Haider Al-Abadi meeting Salman bin Abdulaziz Al Saud, King of Saudi Arabia, 19th June 2017)
An Iraqi court on February 12 sentenced former trade minister Abdul Falah al-Sudani to 21 years in prison on corruption charges. Sudani was involved in a corruption scandal connected to the country's massive food rations programme. He was given three sentences, two for "negligence" with a 14-year jail term and a third for "misconduct" with […]
The World Bank Group and the Government of Iraq signed two projects today totaling US$510 million to help the Iraqi people by improving living conditions, enhancing water supplies, and creating jobs. The two projects along with the ongoing US$750 million Emergency Operation for Development program and other planned commitments, will increase the World Bank’s total […]
By John Lee. Genel Energy has announced the completion of competent person's reports ('CPRs') relating to the oil reserves and resources at Taq Taq, Bina Bawi, and Miran. McDaniel and Associates have updated the CPR relating to the Taq Taq field (Genel 44% working interest, joint operator). RPS Energy Consultants Ltd. ('RPS'), as part of […]
UN Secretary-General António Guterres launched the Iraq Recovery and Resilience Programme today at the Kuwait International Conference for the Reconstruction of Iraq. The two-year Recovery and Resilience Programme is designed to fast-track the social dimensions of reconstruction and help ensure that people see tangible improvements in their daily lives at the start of the reconstruction […]
By John Lee. Jordan's Minister of Municipalities, Walid Al-Masri, and Minister of Industry and Trade, Yarub Al-Qudah, have met representatives of the chambers of industry and commerce and members of the Jordan Truck Owners and Custom Clearance Associations to discuss arrangements for the entry of Jordanian trucks to Iraq. According to a report from Petra, […]
Significant progress in the fight to defeat the Islamic State of Iraq and Syria has resulted in a shift in focus to sustaining military gains in Iraq to ensure a lasting defeat of Islamic State of Iraq and Syria terrorists, The commander of U.S. Air Forces Central Command told Pentagon reporters today. An Air Force […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq is hoping for more concrete pledges from international donors on the second day of a conference on rebuilding cities and infrastructure shattered by the conflict with ISIL (the Islamic State of Iraq […]
UNMAS Iraq ‘Clearance Mission’ Seen as ‘Tipping Point’ Between Past Conflict and a Normal Future Lives and livelihoods in Iraq’s liberated areas are being restored at long last. In Fallujah, as many as 1,800 vehicles and 100 pedestrians per hour can cross the re-opened ‘new bridge’ linking Baghdad with Al-Anbar Province. The fibre optic cable […]
By John Lee. Spartan Air Academy Iraq LLC., Addison, Texas, has been awarded a $45,000,000 firm-fixed-price, indefinite-delivery/indefinite-quantity contract for the stand-up of an Air Academy training in support of the Iraq Air Force. Work will be performed at Balad Air Base, Iraq, and is expected to be complete by Feb. 8, 2019. This award is […]
By John Lee. Qatar-based Ooredoo has announced that revenue at its Asiacell subsidiary in Iraq increased 6 percent to QAR 4.5 billion, while and EBITDA increased 3 percent to QAR 2.0 billion, for the year ended 31th December 2017. EBITDA margin was put at 44 percent. In a statement, the company said: "A key opportunity […]
