By John Lee. Iraq's Commission of Integrity (COI) has announced that an accountant at the Al-Amara branch of the Agricultural Cooperative Bank has been given a 30-year prison sentence for the embezzlement of 996 million Iraqi dinars ($680,000). Her assets were also seized, and she will be required to repay the amount. A former director […]
Gulf Keystone Petroleum (GKP) has announced that its Board has approved the declaration of a special dividend of $25 million. Jon Harris (pictured), Gulf Keystone's Chief Executive Officer, said: "Given continuing strong oil prices, improving macroeconomic conditions and our robust financial position, we are pleased to deliver on our commitment to consider further shareholder distributions […]
By John Lee. Shares in oil companies operating in Iraqi Kurdistan have been hit by a change in payment terms imposed by the Kurdistan Regional Government (KRG). Genel Energy, Gulf Keystone Petroleum (GKP) and DNO this morning reported to the markets that they have received letters from the KRG proposing an amendment to payment terms […]
UNICEF and UNFPA Launch of National Youth Vision The Ministry of Youth and Sports in the Federal Government launched the 2030 National Youth Vision. The Vision was put in place in collaboration with the Ministry of Culture and Youth in the Kurdistan Regional Government, with technical support from UNFPA and UNICEF, and funding from Sweden, […]
Iraq's Minister of Agriculture, H.E Muhammad Karim Al-Khafaji, has received the Representative of the Food and Agriculture Organization of the United Nations in Iraq (FAO), Dr. Salah Hajj Hassan, and his accompanying delegation, in the presence of the Ministry's Technical Undersecretary Dr. Mithaq Abdul-Hussein, the Ministry's advisor, Dr. Mahdi Damad Al-Qaisi, and Adviser Raed Haddad […]
Freedom of expression increasingly curtailed in Kurdistan Region of Iraq - UN report Freedom of expression in the Kurdistan Region of Iraq has been increasingly curtailed over the past year, according to a UN report issued on Wednesday. Critics of public authorities have risked not only intimidation, restrictions on their movements and arbitrary arrests, but […]
By John Lee. Iraq is reported to have formally asked to buy ExxonMobil's share in the West Qurna 1 oil field. Basra Oil Company (BOC) director, Khalid Hamza, told Reuters that the US company is attempting to sell its 32.7-percent stake for $350 million. More here. (Source: Reuters)
By John Lee. Lockheed Martin is reportedly withdrawing its contractors from Balad Air Base, which has seen frequent rocket attacks in recent months. The company has been working on the program to maintain Iraq's fleet of F-16 fighter jets. More here and here. (Sources: Reuters, New York Times)
By John Lee. The United Nations Assistance Mission for Iraq (UNAMI) has published its latest report on Iraq's electoral preparations and processes. Iraqis will go to the polls for early elections in October 2021. The full report can be downloaded here. (Source: UNAMI)
The two project agreements were signed on Friday in Baghdad by the German Ambassador to Iraq, Dr. Ole Diehl, and EUAM Iraq Head of Mission, Mr. Christoph Buik. The funding from the German government will support the implementation of two important projects. The project of ''The National Database for Cultural Heritage Protection in Iraq -Phase […]
The United Nations Development Programme (UNDP) in Iraq has signed an agreement with Government of Iraq's Reconstruction Fund for Areas Affected by Terroristic Operations (REFAATO) to provide residents in Ishaqi, Salah-Al Din with access to safe reliable drinking water. Approximately $1.25 million, generously provided to REFAATO by the Islamic Development Bank, will be used to […]
By Shelly Kittleson, for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Islamic State takes border station in Iraqi desert with 'drug smuggling wali' A recent incident along Iraq's western border and alleged connections between drug smuggling and Islamic State cells […]
