By John Lee. Iraq has reportedly restarted talks with the International Monetary Fund (IMF) for a $4-billion loan to cover its budget deficit. More here. (Sources: Bloomberg, Arab News)
Iraq said to be Negotiating IMF Loan
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Contract Awarded for supply of Laptops
By John Lee. Baghdad-based Albilad Alhurra Company has won a contract with the United Nations Office for Project Services (UNOPS) for the supply of laptops. The contract is valued at $171,600. Albilad Alhurra is a joint venture between Habtoor Leighton Group, Kuwait Construction Company and M + W Group. (Source: UNGM)
Tags: Al Habtoor Leighton Group, Albilad Alhurra, featured, Kuwait, Kuwait Construction, M + W Group, mn, UN Office for Project Services (UNOPS), ungm, United Nations (UN)
Atlantic Council: A Conversation with Iraqi Finance Minister
By Hezha Barzani, for the Atlantic Council. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Event Recap: A conversation with Iraqi Deputy Prime Minister and Finance Minister Ali Allawi The Atlantic Council's Iraq Initiative recently hosted an event with His Excellency Ali Allawi, […]
Iraqi Oil Tankers Company to Expand its Fleet
By John Lee. The Iraqi Oil Tankers Company (IOTC) has confirmed that it plans to increase the size of its fleet. The company's general manager, Ahmed Khazal, told the Iraqi News Agency (INA), that it will both build and buy new tankers. IOTC currently owns four tankers. (Source: INA)
Suppliers chosen for UNMAS Contracts in Iraq
By John Lee. Two companies have won contracts with the United Nations Office for Project Services (UNOPS) for the provision of equipment to UNMAS in Iraq: Lot 1 - Adalk Co Ltd, for the supply of Head Torch, Dragon Light, Digital Camera, Voice Recorder and Hand Torch: Contract value $20,000 Lot 2 - Alfarez for […]
Tags: Adalk, Alfarez for General Contracts, featured, mn, UN Mine Action Service (UNMAS), UN Office for Project Services (UNOPS), ungm, United Nations (UN)
ECW announces $12.5m Grant for Iraqi Education
By John Lee. Education Cannot Wait (ECW) had announced a new multi-year resilience programme that it says will reach a total of 192,100 forcibly displaced children and youth in Iraq. An initial $12.5 million catalytic seed-funding grant from ECW will be implemented by Save the Children in coordination with the Iraq's Ministries of Education in […]
Tags: Education Cannot Wait (ECW), featured, humanitarian assistance, IDPs, internally displaced persons, mn, Refugees, Save the Children
KRG Approves DNO Purchase of Exxon Stake in Baeshiqa
By John Lee. DNO ASA, the Norwegian oil and gas operator, today announced that the Kurdistan Regional Government has approved the Company's acquisition of ExxonMobil's remaining 32 percent interest in the Baeshiqa license, doubling DNO's stake. In parallel, commerciality has been declared on the license with plans submitted for fast-track development including early production from previously […]
Tags: Baeshiqa, DNO, Exxon, Exxon Mobil, ExxonMobil, featured, KRG, Kurdistan News, mn, Norway, Peshkabir, Tawke, Zartik
Genel Energy Increases Dividend
By John Lee. Genel Energy has increased its interim dividend, announced in its unaudited results for the six months ended 30 June 2021: Bill Higgs, Chief Executive of Genel, said: "Genel continues to deliver on its strategy and demonstrate the merits of its business model. Capital investment made last year, despite the low oil price […]
Iraq Progresses Towards WTO Membership
The Chairperson of the Working Party on the Accession of Iraq to the World Trade Organization (WTO), Ambassador Omar Hilale (Morocco), visited Geneva on 16-18 June. Building on his earlier visits, the purpose of the Chairperson's meetings in Geneva was to identify steps and mobilise support in relaunching Iraq's accession process which had been challenging […]
Tags: featured, International Trade Center (ITC), mn, United Nations Conference on Trade and Development (UNCTAD), World Bank, World Trade Organisation, WTO
EU Provides Additional $8m for Mine Clearance in Iraq
The United Nations Mine Action Service (UNMAS) in Iraq welcomes an additional contribution of EUR 7,000,000 (approximately USD 8,059,000) from the European Union (EU), which will support the Government of Iraq in protecting vulnerable civilians from the threat posed by explosive ordnance left behind by the Islamic State of Iraq and the Levant (ISIL). Implementation […]
Tags: de-mining, Demining, European Union (EU), explosive remnants of war (ERW), featured, landmines, mn, unexploded ordnance, United Nations Mine Action Service (UNMAS), UXO
Market Review: The Economy Continues to Hum Along
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. June's heat wave continued into July with temperatures this year continuing to exceed recent averages (chart below), which combined with the onset of summer holidays, led to […]
Tags: Ahmed Tabaqchali, American University of Iraq Sulaimani (AUIS), Asia Frontier Capital (AFC), featured, mn
Iraqi Oil Exports for July Exceeded $6.5bn
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for July of 90,467,794 barrels, giving an average for the month of 2,918 million barrels per day (bpd), slightly up from the 2.892 million bpd exported in June. The exports from the oilfields in central and southern Iraq amounted to approximately 87,455,359 barrels, […]