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  • Investors Iraq News's Avatar
    Today, 04:06 AM
    “Mine clearance is crucial to prevent the loss of civilian lives, to ensure access for emergency aid, and to enable hundreds of thousands of internally displaced people to return safely to their homes. This is why we are now increasing our support for mine clearance in Iraq and Syria“, Norway’s Foreign Minister Ine Eriksen Søreide (pictured) has said. ISIL planted vast numbers of landmines and explosives in the areas they formerly controlled. These explosives pose an enormous threat to civilians. Against this backdrop, Norway has increased its support for mine clearance in Iraq and Syria from NOK 110 million in 2017 to NOK 154 million in 2018. Last summer the city of Mosul in Iraq was liberated from ISIL, and last autumn the global coalition liberated the city of Raqqa, formerly ISIL’s headquarters in Syria. According to the UN, the number of landmines and unexploded ordnance in Iraq and Syria is extreme, with 50 to 70 casualties a week in the city of Raqqa alone. ‘The human suffering caused by these explosives must be brought to an end. The situation in Raqqa and Mosul is particularly serious. A substantial share of Norway’s support for mine clearance is being channelled to these two cities,’ said Ms Eriksen Søreide. Norway is one of the five largest donors to international mine clearance efforts. In 2017 Norway provided a total of NOK 312 million for this work. Activities supported by Norway include mapping hazardous areas, training the local population in risk management, and clearing landmines and unexploded ordnance so that land and buildings can be used again. (Source: Norwegian Ministry of Foreign Affairs) (Picture Credit: Torbjorn Kjosvold, Norwegian Armed Forces) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 13 view(s)
  • Investors Iraq News's Avatar
    Today, 04:06 AM
    Iraqi Electricity Minister Qassem Al-Fahdawi (pictured) said yesterday that his country has failed to convince Iran to resume supplying Iraq with electricity. Last Friday, Al-Fahdawi along with an Iraqi delegation arrived in Tehran where they held talks with Iranian officials to resume supplying Iraq with 1,000 megawatts of electricity, which Tehran cut off about two weeks ago due to the accumulation of debts owed by Baghdad. Al-Fahdawi explained in a statement received by Anadolu News Agency that his ministry “has put an alternative plan to importing electricity from Iran”. Iraq has been importing electricity from Iran for many years after their power infrastructure was destroyed by decades of war and blockade. According to figures released by the Iraqi Ministry of Electricity in August, last year the country produces 15,700 megawatts of electricity, however it needs more than 23,000 megawatts of electricity to meet its population needs. The power outage caused by the Iranian move contributed to fueling violent protests in the southern Iraq provinces which led to at least five people being killed and 190 wounded after security forces fired on protesters. (Source: Middle East Monitor) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 12 view(s)
  • Investors Iraq News's Avatar
    Today, 04:06 AM
    On August *10th, ten of Iraq’s best seed-stage startups will compete in Erbil to represent the country at the Seedstars Summit in Switzerland and win up to USD 1 million in equity investments and other prizes. The first Seedstars competition in Erbil is marked by the excitement and commitment of Seedstars and its partners in investing in Iraq’s recent, yet vibrant, startup ecosystem. Seedstars World, the largest startup competition for emerging markets and fast-growing startup scenes is coming to Iraq for the 1st time to hold a dynamic pitch event on August *10th, at TechHub in Erbil. Omar Barakat, Regional Associate for MENA at Seedstars, explains: “Seedstars is a platform connecting the next generation of entrepreneurs from places where normally people wouldn’t think startup ecosystem have such traction, growth and buzz, to a worldwide community of changemakers focused in emerging markets. “Therefore, we are very excited to be in Iraq, highlighting the hidden potential of such a bustling entrepreneurial ecosystem. We are here to witness the reality and foster talent and good ideas. “We are also experts in identifying which solutions to pull through and how. We’re impressed by what we have seen in the region so far and cannot wait to add startups from Iraq on our map.” The companies selected to pitch at the Seedstars Erbil event need to be less than 2 years old, have raised less than USD 500,000 in funding and built a minimum viable product, ideally with existing traction. The Seedstars team is searching for one additional criterion: the startup’s regional and global scalability. With a strong network of international partners, such as Merck, SPECo, Enel or Continental (amongst others) the competition organizers are looking for smart startups that tackle regional issues and develop profitable and sustainable products for the global market. The applications are open until July 30th and startups are invited to apply on Seedstars Erbil website. After a careful screening, the Seedstars team will shortlist 10 of the best seed-stage startups in Erbil to pitch on August 10th for the opportunity to compete at the Seedstars Summit, that annually takes place in Switzerland. In order to provide local entrepreneurs with this opportunity and aiming to deliver the best possible event, Seedstars is closely working with TechHub, Iraq’s first co-working space located in Erbil, who are representing the initiative throughout the year. Hal Miran, Co-Founder at TechHub, said: “Seedstars’ mission to impact people’s lives through technology and entrepreneurship is a perfect match with ours. Their experience with startup ecosystems and entrepreneurs, and the international community they’ve built around them have been crucial factors in our decision to join forces to scout for the best solutions to tackle local issues in Iraq. We really hope local startups appreciate this incredible opportunity.” It’s Seedstars’ goal to place the spotlight on entrepreneurs from emerging markets, especially those targeting solutions that align with UN Sustainable Development Goals. With that in mind, Seedstars World is travelling to more than 65 countries to identify the most innovative seed-stage startups, awarding them the opportunity to win up to USD 1 million and network with investors and mentors from around the world at the global Seedstars Summit in Switzerland. Its previous participants have raised over USD 92M collectively, providing employment to more than 2.100 employees worldwide. The 10 startups selected will give a five minute pitch in English, in front of a jury made up of local startup heavyweights. Members of the public and press are welcome to come join the fun and should register on the above Seedstars Erbil website as well! (Source: Seedstars) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 14 view(s)
  • Wolverine's Avatar
    Yesterday, 11:05 PM
    Chuck you , Schumer !!!
    215 replies | 5071 view(s)
  • BatmaninIraq's Avatar
    Yesterday, 10:06 PM
    Central Bank: Sirens sounded at the Banks Complex launched as training practices July 18 2018 5:19 PM The Central Bank of Iraq, in a statement issued on Wednesday, that the sirens launched today at the banks complex comes within the training practices. The Central Bank said in its statement that the warning sirens launched today at the banks complex in Al-Rashid Street are the regular training practices carried out by the Department of Civil Defense in coordination with the security services, "adding that" these practices continue for two days. It is worth mentioning that the means of social communication There were reports today that warning sirens were fired today at the banks complex at the banks complex in Al-Rashid Street, without giving further details.
    127 replies | 18829 view(s)
  • BatmaninIraq's Avatar
    Yesterday, 10:01 PM
    7/18/2018 ----BAGHDAD / MESSALA: The social networking sites have been reported as a security spread around the Central Bank of Iraq. And monitored the "obelisk" published by activists on Facebook: "the launch of warning sirens in the Central Bank of Iraq, and the spread of security forces, without knowing the details." Which caused the spread of security forces as pictured:
    127 replies | 18829 view(s)
  • Wolverine's Avatar
    Yesterday, 08:41 PM
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    Yesterday, 07:58 PM
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    Yesterday, 07:17 PM
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    Yesterday, 06:26 PM
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    Yesterday, 05:07 PM
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    Yesterday, 04:50 PM
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    Yesterday, 04:41 PM
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    Yesterday, 04:08 PM
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    Yesterday, 04:03 PM
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    Yesterday, 03:45 PM
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    Yesterday, 03:40 PM
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    Yesterday, 02:33 PM
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  • Wolverine's Avatar
    Yesterday, 12:35 PM
    Iraq just exported most crude oil since November 2016 By Anthony DiPaola on 7/17/2018 DUBAI (Bloomberg) -- Iraq exported oil at the fastest pace since late 2016 during the first half of July, indicating OPEC’s second-largest producer is pumping more after the group eased production limits. Crude shipments during the first two weeks of the month were 4.05 MMbpd, the highest since November 2016, according to tanker tracking and port agent data compiled by Bloomberg. That’s 6% higher than the daily average of exports for all of June. Preliminary tanker tracking data is subject to change because shipments can be delayed and the average for a full month can be higher or lower. The Organization of Petroleum Exporting Countries and allied producers agreed last month to ease production cuts to ensure sufficient supply to markets, starting in July. Saudi Arabia, the world’s largest exporter, and Russia said that OPEC and partners would increase output by about 1 MMbpd. They had been curtailing output since the start of 2017 to help curb a global glut. Brent crude recovered from below $30/bbl in 2016 to $80.50/bbl in May this year. Iraq sold 3.84 MMbpd of crude on average in June and pumped 4.5 MMbpd that month, according to data compiled by Bloomberg. That would indicate domestic refinery demand of about 650,000 bpd. If Iraq maintains exports at the same level for all of July and domestic crude use remains consistent with June, the country would pump about 4.7 MMbpd in July. That would be the highest monthly production ever, according to data compiled by Bloomberg. Iraq ‘committed’ Oil ministry spokesman Asim Jihad said Iraq was “committed” to the output limit set by OPEC when asked about the country’s production level. Iraq’s output was capped at 4.35 MMbpd under the 2016 deal. While the country has exceed that level every month but one since the start of the OPEC deal, Bloomberg data show, the group’s decision to raise output has called the country-level quotas into question because some members aren’t able to pump as much as they agreed. Iraq’s production is probably closer to 4.8 MMbpd currently, said Jaafar Altaie, managing director of consultant Manaar Group in Abu Dhabi. “The higher oil price is paying off and allowing the Iraqis to invest more in some of the government-controlled fields.” Higher spending is adding production at fields in the central and northern parts of the country, some of which isn’t being exported, Altaie said. The country can maintain output at about 4.8 MMbpd for the rest of the year, while even greater levels of spending will be needed to keep that pace into 2019, he said. Iraq has raised refining capacity to 750,000 bpd as the country works to restore crude-processing units damaged by Islamic State militants, Deputy Oil Minister Fayyad Al-Nima said in an interview in Baghdad earlier this month. It’s working to resume crude processing at the 310,000-bpd Baiji plant in the north and is building a new 140,000-bpd refinery at Karbala. Exports from the Middle Eastern country could be even higher if the central government and the administration in the semi-autonomous Kurdish region solve a dispute over oil revenue that’s blocked federal exports from using a northern pipeline to Turkey, the International Energy Agency said this month.
    0 replies | 46 view(s)
  • Wolverine's Avatar
    Yesterday, 12:11 PM
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