The United Nations World Food Programme (WFP) welcomes a timely and generous contribution of US$19.24 million from the U.S. Agency for International Development's Bureau for Humanitarian Assistance (USAID-BHA). The funding will help provide life-saving assistance to 181,000 displaced Iraqis and 72,000 Syrian refugees in the form of cash transfers that support their immediate food needs. The U.S. […]
By John Lee. Petronas Carigali Iraq Holding B.V. has opened its K-123 well in the Garraf Contract Area in Dhi Qar. Present at the event were, Petronas Vice President International Assets of Upstream Mr. M Jukris A Wahab; Director, Managing Executive Officer and President of Middle East, Asia & Europe Project Division of Japex, Mr. […]
By John Lee. Al-Mruoj Al-Badhaa Company has won a contract with the United Nations Office for Project Services (UNOPS) for the rehabilitation of five primary health centers in Al Ramadi, Anbar Governorate. The contract is valued at $813,800. (Source: UNGM)
By John Lee. Norwegian biometric authentication firm Zwipe is partnering with Areeba to pilot biometric payment cards based on Zwipe Pay ONE in Lebanon and Iraq. According to a press release from Zwipe, these pilots reflect a strong and growing demand from issuers and processors across the region for next-generation contactless payment cards. In these […]
By Kumar Pratik, for CS Global Partners. Last year, the world came to a standstill following the outbreak of the COVID-19 virus, disrupting life as we knew it. One of the greatest challenges to the impending global health crisis was the introduction of stringent travel restrictions which saw many, near and far, trapped in a […]
By John Lee. Iraq has successfully completed the sale of a 1-trillion-dinar (£685-million) construction bond issuance, also know as a "binaa bond". The Ministry of Finance issued the bonds for sale on the local financial market at the start of October, in two categories: IQD500,000 bonds with annual interest of 6 percent for two years; […]
From the World Bank: Economic growth is gradually recovering following last year's pandemic-related contraction, partly due to higher non-oil activity. Improved global oil market conditions are expected to reinforce growth in the medium term and turn the fiscal and external balances to surpluses from 2021, and to reverse the recent surge in debt. Latest Developments: […]
By John Lee. The audio streaming service Spotify has been launched in Iraq. A statement from the company on Wednesday said that both free and premium services will be available, and that local artists will receive an opportunity to reach new audiences both at home and abroad. It added: "Iraq has exported many recognizable names, […]
By Mohammed Koperly (LLB, PstgD, MCIArb), for Al Nesoor Law. One of the most significant worldwide developments during Covid-19 was the increase in consumer engagement in financial markets, many for the first time especially in Iraq. The coronavirus outbreak has acted as a catalyst for a digital revolution facilitated by financial technology (fintech). As Iraq […]
By John Lee. The Iraqi Ministry of Health has signed the contract for the construction of the Shatrah General Hospital, in Dhi Qar governorate. Acting Minister of Health, Dr. Hani Al-Uqabi, signed the contract with a Jordanian company to build the 200-bed facility, with funding including a loan from the Japan International Cooperation Agency (JICA). […]
The following Security Council press statement was issued today by Council President Juan Ramón de la Fuente Ramírez (Mexico): The members of the Security Council welcomed the Secretary-General's report on Iraq's electoral process and the assistance of the United Nations Assistance Mission for Iraq (UNAMI) to that process, pursuant to resolution 2576 (2021). The members […]
By John Lee. Russia's LUKoil and Japan's Inpex Corporation have applied to Iraq's state-owned Dhi-Qar Oil Company (DQOC) for what Lukoil describes as "commerciality of reserves", and filed a preliminary proposal on the development of the Eridu oil field within Block-10. According to Lukoil, geological exploration has proved significant reserves, making Eridu the largest discovery […]
