The Iraq Britain Business Council (IBBC) hosted members on-line, to discuss their annual council meeting and review its activities. The meeting was due to take place in Dubai, but due to sudden COVID restrictions it took place successfully online. Mr Zaid Elyaseri Vice President of BP Iraq and member of the IBBC Executive Committee, chaired […]
By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Market Review: "Of Assassinations and Corporate Activities" A quiet start to the new year would have been welcome after the drama of the currency devaluation […]
By John Lee. Iraq's Cabinet has agreed to supply 500,000 tons of heavy fuel oil annually to Lebanon. According to a statement from Prime Minister Mustafa Al-Kadhimi, the oil will be paid for in a barter deal, in return for services, medical goods, medicines and consulting services. (Source: Office of the Iraqi Prime Minister)
From UNDP Iraq: Discovering Beyond the Known During 2020: Innovative Approaches from UNDP Accelerator Lab in Iraq The UNDP Accelerator Lab (AccLab) in Iraq has shared 100 local innovations with the world to support the role of local communities innovations in accelerating development. Click here to read the full article.
By John Lee. The first meeting of the Committee in charge of establishing the National Company for Real Estate Development has been held at the headquarters of the National Investment Commission (NIC). The meeting was chaired by Suha Dawood Najar, Head of NIC, who said the new company will be "mixed sector", with 50-percent owned […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. KRG raises electricity rate by 20% The Kurdistan Regional Government's (KRG) Ministry of Electricity is increasing the price of national electricity by 20 percent, the spokesperson told Rudaw on Monday. Click here to read […]
By John Lee. Iraq's Ministry of Oil has announced initial oil exports for January of 88,922,697 barrels, giving an average for the month of 2.868 million barrels per day (bpd), up from the 2.846 million bpd exported in December. These exports from the oilfields in central and southern Iraq amounted to approximately 85,870,503 barrels, while […]
By Dr. Layth Mahdi. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Prime Minister's Job Development Office: Best Chance for Reducing Unemployment and Poverty Iraq economy has suffered for the past 18 years due to continued violence, economic mismanagement, flawed policies and the absence […]
By John Lee. The Dhi Qar Oil Company (DQOC) has reportedly said that Litasco, the international marketing and trading company of Russia's LUKOIL, will finance the doubling of capacity at the Nassiriyah oil field from 100,000 barrels per day (bpd) to 200,000 bpd. The project includes a 42-kilometer pipeline, and will be a joint venture […]
ALIPH and the Iraqi Ministry of Culture join forces to rescue the Arch of Ctesiphon, the world's largest brick vault constructed until modern times The International alliance for the protection of heritage in conflict areas (ALIPH) and the Iraqi Ministry of Culture, Tourism and Antiquities have announced urgent stabilization measures to protect the endangered Arch […]
By John Lee. Construction projects in Anbar province have created jobs, and provincial capital Ramadi could soon have Iraq's largest shopping mall, according to a report from Al Jazeera. It adds that the push for more investment underpins the province's ambitions for greater autonomy. Click here to read the full article. (Source: al Jazeera)
United Kingdom National Charged with Bribery and Kickback Scheme Involving Iraqi Reconstruction Contracts A United Kingdom national is charged with wire fraud and conspiracy to commit bribery for his role in a scheme involving the award of millions of dollars of U.S. Army Corps of Engineers (USACE) reconstruction contracts in Iraq, Acting U.S. Attorney Rachael […]
