By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. This article was originally published by the LSE Middle East Centre. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq's Power Conundrum: How to Secure Reliable Electricity While Achieving Energy Independence Iraq remains […]
By John Lee. IFC, a member of the World Bank Group, is investing over $26 million in a new 161-bed hospital in Erbil in the Kurdistan Region of Iraq. The facility will increase the availability of quality healthcare services and help address gaps in the country's healthcare infrastructure. The $92 million Seema Hospital project is […]
By John Lee. Genel Energy's newly-appointed Senior Independent Non-Executive Director and Deputy Chairman has purchased shares in the company. Former UK Minister for Defence Sir Michael Fallon bought 9,000 shares on Thursday at £1.0967 per share, for a total price of £9,870.30. He was appointed to the board in early February. (Source: Genel Energy)
Due to a combination of security conditions and restricted travel options as a result of the global COVID-19 pandemic, the US State Department has ordered the departure of designated U.S. Government employees at the U.S. Embassy in Baghdad, the Baghdad Diplomatic Support Center, and the U.S. Consulate General in Erbil. Visa services at both posts […]
By Hassan Ali Ahmed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraqi government officials, clerics unite against COVID-19 As the number of coronavirus cases grows rapidly in Iraq, the Shiite religious establishment is offering to help the government, campaigning […]
By Bryant Harris for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Coronavirus forces partial US troop drawdown in Iraq The US-led global coalition to defeat the Islamic State announced today that the coronavirus pandemic has forced "temporary adjustments" in the […]
By John Lee. The China Petroleum Engineering & Construction Corp (CPECC) has reportedly won a $203.5 million engineering contract to treat sour gas at the Majnoon oilfield in Iraq. According to Reuters, the field is now producing around 240,000 barrels per day (bpd), with plans to boost output to 450,000 bpd in 2021. Originally awarded […]
Gulf Keystone Petroleum (GKP) has issued providing an operational and corporate update: Jón Ferrier, Gulf Keystone's Chief Executive Officer, said: "In these challenging times, we remain focused on the safety of our people and have adapted our operations to ensure their continued welfare. With the associated economic backdrop compounded by a delay in payments, we […]
COVID-19 is spreading rapidly across the world. Governments of even the wealthiest countries are struggling to cope with the scale of the Pandemic. For Iraq this is nothing short of disaster. Iraq's health care system is in almost permanent crisis, constantly on the brink of collapse. Only days ago, its Health Minister, Jafar Allawi, was […]
By John Lee. China's Anton Oilfield Services (AntonOil) has reported that the Group has received written confirmation from its Iraqi customer in advance that it will automatically renew the 2-year contract after its expiry on July 1, 2020 for one year. In its unaudited interim results for the one year ended 31 December 2019, it […]
By Sara Allawi and Michael O'Hanlon for USA Today. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The relationship between Iraq and the U.S. is in danger of collapse. That can't happen. Do the United States and Iraq, joined at the hip in tragic […]
By John Lee. The Central Bank of Iraq (CBI) has announced that the repayment of loans obtained under its '1 and 5 trillion dinars' finance initiatives for small and medium size businesses (SMEs) will be suspended for three months. According to a statement from the Government of Iraq, the move is an attempt to ease […]
