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  • Investors Iraq News's Avatar
    Today, 05:12 AM
    By John Lee. Five suspected members of an organized crime ring that was smuggling stolen cars into Iraq have reportedly been arrested in Turkey. Police detained three members of the gang, one of them a Greek national, at a customs office in Istanbul after they cleared a luxury Jaguar through customs. They later detained a Turkish national and the Iraqi leader of the group in a raid on a villa, also confiscating Mercedes SUV and $55,000 in cash. According to Hurriyet Daily News, the two cars will be returned to their owners in Germany. It adds that the leader of the is understood to be a prominent figure in Iraq’s automobile market, owning many auto galleries in the country. (Source: Hurriyet Daily News) (Picture: Smuggling, from dizain/Shutterstock) Source: Post your commentary below.
    0 replies | 17 view(s)
  • Investors Iraq News's Avatar
    Today, 03:00 AM
    The United Nations Mine Action Service (UNMAS) has welcomed a contribution of AUD 11 million (USD 8.6 million) from the Government of Australia dedicated to explosive hazard management in support of humanitarian and stabilization efforts. Approximately 2.1 million civilians are still displaced due to the recent conflict and unsafe conditions to allow their return. A nation-wide intentions survey was carried out by REACH in partnership with the Camp Coordination and Camp Management Cluster in internally displaced person (IDP) camps between 12 December 2017 and 14 January 2018 highlighted that 52% of people interviewed were not planning to return home. Of the 52% that will not return, 21% stated this was due to the possible presence of improvised explosive devices (IEDs) and unexploded ordnance. In effect, 1 in 10 IDPs in the camps surveyed who are not leaving the camp are not returning home because of the fear of explosive hazard contamination in or nearby their homes. The Government of Iraq maintains explosive hazard management capacities within a number of government entities and established mine action authorities, though the demand for assistance far exceeds the resources available. With the three-year contribution from Australia, UNMAS will conduct survey and clearance of liberated areas suspected to be affected by explosive hazards. This is in direct support of the Government priorities as outlined in the Directorate for Mine Action (DMA) “National Strategic and Executive Plan for Mine Action for 2017-2021” which highlights DMA’s aim to be able to survey, mark and render safe 50% of known explosive hazard contamination by 2021. Simultaneously, in collaboration with DMA, risk education will be provided to those living in and returning to liberated areas, directly mitigating the threat posed by explosive hazards and IEDs. The efforts will specifically target affected communities known or suspected to have an explosive hazard or IED threat. The Australian Ambassador to Iraq, Dr. Joanne Loundes (pictured) said: “Australia is proud to partner with UNMAS and provide AUD11 million over three years towards critical demining activities in Iraq. Even though Iraqi territory has been liberated from ISIL, explosives remain hidden in homes, schools, hospitals and roads in former ISIL controlled areas. Unless these areas are cleared, people cannot return home, stabilisation and reconstruction efforts will stall and the human toll from this devastating conflict will continue.” Pehr Lodhammar, UNMAS Senior Programme Manager, added: “Through this generous contribution, the Government of Australia will further enable UNMAS to respond to explosive hazards through survey and clearance and in turn enable safe and dignified returns.” (Source: UN) Source: Post your commentary below.
    0 replies | 16 view(s)
  • treasurehunter9's Avatar
    Today, 02:45 AM
    Thanks for the help
    4 replies | 215 view(s)
  • BatmaninIraq's Avatar
    Today, 12:03 AM
    88 replies | 13510 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 05:40 PM
    GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld’s Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments across the country. Please click here to download the latest report free of charge. For more information on how GardaWorld’s services can support your business in Iraq, please contact Daniel Matthews, Senior Director Iraq, at Source: Post your commentary below.
    0 replies | 26 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 11:14 AM
    DNO ASA, the Norwegian oil and gas operator, has completed the private placement of USD 400 million of new, five-year senior unsecured bonds to be issued at 100 percent of par with a coupon rate of 8.75 percent. The bond placement received strong investor demand across international markets and was oversubscribed. The bond issue is expected to be settled on or about 31 May 2018, subject to customary conditions precedent. An application will be made for the bonds to be listed on the Oslo Stock Exchange. In connection with the bond placement, the Company has agreed to roll over USD 200 million in nominal value of DNO01 bonds (ISIN: NO0010740392) at 103.25 percent of par plus accrued interest into the new bond. The rolled over bonds will be canceled and USD 200 million of outstanding DNO01 bonds will remain. Net proceeds from the new bonds will be used towards refinancing the outstanding DNO01 bonds and for general corporate purposes. Pareto Securities AS acted as lead manager and bookrunner with Danske Bank and SpareBank 1 Markets AS as co-managers and bookrunners. (Source: DNO) Source: Post your commentary below.
    0 replies | 33 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 11:14 AM
    By John Lee. The alliance headed by former Shia militia chief Moqtada al-Sadr has won the parliamentary election. But according to BBC News, Sadr cannot become prime minister as he did not stand as a candidate. He is, however, expected to play a key role in forming the new government. Sadr is strongly opposed to Iranian and US involvement in the country. The party of outgoing PM Haider al-Abadi was pushed into third place, behind a pro-Iranian alliance led by Hadi al-Amiri. More here and here. (Source: BBC, Reuters) Source: Post your commentary below.
    0 replies | 29 view(s)
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