By John Lee. UAE-based Intertech FZC has won a contract with the United Nations Office for Project Services (UNOPS) for the supply of drones for UNMAS Iraq The contract is valued at $39,200. (Source: UNGM)
UAE Firm to supply Drones to UNMAS Iraq
Tag Archives | mn
Tags: drones, featured, Intertech, mn, UN Mine Action Service (UNMAS), UN Office for Project Services (UNOPS), United Arab Emirates (UAE), United Nations (UN)
Opinion: The Iraqi Dinar needs Political Support!
By Dr Amer K. Hirmis, Capital Business Strategies Ltd. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqi Dinar needs political support...to serve the economy! The Iraqi Dinar (IQD) was devalued by nearly 23 percent on Saturday, December 19, 2020, from its previous (official) […]
Tags: Central Bank of Iraq (CBI), devaluation, dinar, Dinar Exchange Rate News, Dinar Revaluation News, Dr Amer K. Hirmis, featured, International Monetary Fund (IMF), IQD, Iraqi Dinar News, mn, re-denomination, re-valuation, Redenomination
Jordan "negotiating New Oil Contract with Iraq"
By John Lee. Iraq's State Oil Marketing Organization (SOMO) has reportedly said that Jordan is negotiating with Iraq to resume purchases of crude oil. Shafaq News Agency quotes the company's Director, Alaa al-Yasiri, as saying that Iraq exported no crude oil to Jordan in December due to the expiration of the old contract. More here. […]
Iraq to Participate in Buna Payment Platform
By John Lee. The Central Bank of Iraq (CBI) has reportedly announced its participation in the Arab Monetary Fund's Buna payment platform. The AMF describes Buna as a multi-currency payment platform, providing clearing and settlement services, in Arab and international currencies. More here and here. (Sources: Shafaq News Agency, AMF)
Peter Hunt MBE
By Padraig O'Hannelly. It is with great sorrow that we report the passing of our dear friend Peter Hunt MBE. A founding member of the Iraq Britain Business Council (IBBC), Peter was well known for his knowledge and love of Iraq, its history, people and culture. He was so passionate about rebuilding the country and […]
Iraq to use Euro Account to pay Iran Debts
By John Lee. Iran's Minister of Energy has said that a euro account is to be opened in Baghdad so that Iraq can pay its debts to Iran for electricity and natural gas purchases. IRNA reports that Reza Ardakanian added that the same account can be used for Iraq's debts to Iranian private sector companies. […]
KRG proposes new Minister of Natural Resources
By John Lee. The Prime Minister of the Kurdistan Regional Government (KRG), Masrour Barzani, has nominated Dr. Kamal Atroshi to the post of Minister of Natural Resources, a position which includes responsibility for the oil and gas portfolio. A statement from KRG spokesperson Dr. Jotiar Adil said, "It is our hope that the Kurdistan Parliament […]
Tags: featured, France, Gas & Oil Field Services Company (GOFSCO), KRG, Kurdistan News, Kurdistan Regional Government, Kuwait, Kuwait Foreign Petroleum Exploration Company (KUFPEC), mn, Total
Iraq Increases Oil Exports for December
By John Lee. Iraq's Ministry of Oil has announced initial oil exports for December of 88,211,750 barrels, giving an average for the month of 2.846 million barrels per day (bpd), up from the 2.709 million bpd exported in November. These exports from the oilfields in central and southern Iraq amounted to approximately 85,195,608 barrels, while […]
Iraq's Switch enters Strategic Partnership with ZoodMall
By John Lee. Iraqi financial services company Switch has reportedly entered a strategic partnership with shopping app and cross-border e-commerce marketplace ZoodMall. According to Startup MGZN, all Switch cardholders, subject to approvals, will have instant access to three types of "buy-now-pay-later" solutions on ZoodMall's mobile-only shopping app. (Source: Startup MGZN)
Schneider Electric signs MoU for Electricity Distribution in Iraq
Iraqi Ministry of Electricity, Schneider Electric sign MoU to upgrade of 33/11kV Electricity Distribution Network in Iraq This is a part of the French government's efforts to rebuild Iraq and upgrade its electricity distribution network Emrah Tekdemir: The experience of Schneider Electric in energy efficiency helped our engineers gain great experience to train their peers […]
Iraqi Banks undertake Overdue Reforms
By Omar al-Jaffal for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi Banks undertake Overdue Reforms The Central Bank of Iraq (CBI) announced in a statement Dec. 19 the devaluation of the Iraqi dinar to 1,450 to help reduce the […]
Tags: banking, Central Bank of Iraq (CBI), devaluation, dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, IQD, Iraqi Dinar News, mn, Rafidain Bank, Rasheed Bank, re-denomination, re-valuation, Redenomination, reforms
Belgium enhances Support for Stabilization in Iraq
The Government of Belgium has invested an additional EUR 2 million in the Funding Facility for Stabilization (FFS). The contribution will support stabilization efforts implemented by the United Nations Development Programme (UNDP) across Iraq's five governorates in Anbar, Diyala, Kirkuk, Ninewa and Salah Al-Din. Since 2016, Belgium has contributed EUR 12.12 million to the Facility, which was recently […]