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  • Investors Iraq News's Avatar
    Today, 06:57 AM
    By John Lee. The State Company for Glass & Refractories Industry (SCG&R), one of the Ministry of Industry and Minerals (MIM) companies, has announced an following investment opportunity at the following factories: Rehabilitation & operation of Ceramic Wall Tiles Factory Rehabilitation & operation of Ceramic Floor Tiles Factory Rehabilitation & operation of Ceramic Sanitary Ware Factory Full details available here. (Source: National Investment Commission) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 25 view(s)
  • Investors Iraq News's Avatar
    Today, 06:57 AM
    US-based security company Triple Canopy has agreed to pay $2.6 million to settle civil False Claims Act allegations that the company submitted false claims for payment to the Department of Defense for unqualified security guards stationed in Iraq. “Contractors must be held accountable for their actions, especially when the safety of government personnel is at stake” said Dana J. Boente, U.S. Attorney for the Eastern District of Virginia. “This settlement should remind contractors of the high value we place on safeguarding our personnel abroad.” The allegations stem from Triple Canopy’s one-year contract with the Joint Contracting Command in Iraq (JCC-I), an entity established to provide contracting support related to the government’s relief and reconstruction efforts in Iraq. Under the 2009 contract, Triple Canopy was required to perform a variety of security services at Al Asad Airbase, the second largest air base in Iraq.*** The government’s complaint in intervention alleges that Triple Canopy knowingly billed the United States for security guards who could not pass contractually required firearms proficiency tests. The tests were designed by the Army to ensure that the guards hired to protect U.S. and allied personnel were capable of firing their assigned weapons safely and accurately. The government further alleges that Triple Canopy concealed the guards’ inability to satisfy the firearms testing requirements by creating false test scorecards that Triple Canopy was required to maintain for government review, in an effort to induce the government to pay for the unqualified guards.**** Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 23 view(s)
  • Investors Iraq News's Avatar
    Today, 06:57 AM
    Ali Akbar Velayati, a senior member of Iran’s Expediency Council, rejected the notion that the Islamic Republic helped the central government in neighboring Iraq to take full control over the disputed region of Kirkuk, which was previously held by Kurdish Peshmerga forces. “Iran has no role in the Kirkuk operation,” Velayati told reporters on the sidelines of his meeting with Special Envoy of France to Syria Franck Gellet in Tehran on Tuesday. He further pointed to the independence referendum recently held in Iraq’s semi-autonomous Kurdistan Region and said the majority of Iraq’s Kurdish people are opposed to the ambitions of Kurdistan Regional Government (KRG) President Masoud Barzani. “We saw that the region (Kirkuk) was captured by the Baghdad government almost without any clashes,” said Velayati, who is also an international adviser to the Leader of the Islamic Revolution. Iraqi forces completed an operation to take control of all oil fields operated by state-owned North Oil Company in the Kirkuk region on Tuesday, according to a senior military officer. They took control of the Bai Hasan and Avana oil fields northwest of Kirkuk on Tuesday, after seizing the Baba Gurgur, Jambur and Khabbaz fields on Monday, he said, Reuters reported. Oil officials in Baghdad said all the fields were operating normally. The fields were previously held by Kurdish Peshmerga forces, but they pulled out of the area in the face of an advance by forces of the Iraqi central government. Tuesday’s deployment of Iraqi government forces in Dibis, where Bai Hasan and Avana are located, is part of an operation ordered by Prime Minister Haider al-Abadi to take control of Kurdish-held areas outside the three provinces that form Iraq’s semi-autonomous Kurdish region. The latest incidents come amid simmering tensions between the central government in Baghdad and the KRG over a recent controversial referendum on the secession of the semi-autonomous Iraqi Kurdish region. The plebiscite took place on September 25, sparking strong objection from Baghdad. Iraq’s neighbors and the international community also voiced concerns about the repercussions of the vote, which was only supported by Israel. Kirkuk, with some 10 percent of Iraq’s oil reserves, has long been contested by Baghdad and Erbil. (Source: Tasnim, under Creative Commons licence) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 23 view(s)
  • Investors Iraq News's Avatar
    Today, 06:57 AM
    By*Zep Kalb for*Al-Monitor.*Any opinions expressed are those of the author, and do not necessarily reflect the views of*Iran Business News. In the aftermath of the US-led invasion of Iraq in 2003, the country’s educational system all but collapsed. Illiteracy rates have exploded. Universities have turned into sectarian battlegrounds. Systemic violence — including beatings, rape and death threats — has forced students and faculty out of campuses. As state provision of higher education has receded, private donors have set up alternative institutions, often with a sectarian and religious twist. Foreign actors have also stepped in to fill the void. Before the US-led invasion, education indicators in oil-rich, Baathist-controlled Iraq improved similarly as in other middle-income countries, and in several ways even more so. The country’s first university, Baghdad University, opened its doors in 1957. In 1968, the government made education free and compulsory at all levels. In 1977, the eradication of illiteracy was made legally binding. The developmental push appeared to be working. By 1980, Iraq had already achieved near universal primary school enrollment. Saddam Hussein’s devastating eight-year war with Iran in the 1980s and the sanctions imposed by the West over his invasion of Kuwait in the 1990s slowed these gains. By 2000, the literacy rate of youth aged 15-24 years old stood at 84.8%, slightly higher than that of regional neighbor Egypt. The gender gap was also narrowing: Female literacy rates stood at 80.5% in 2000, a figure Egypt reached only in 2006. At the same time, underinvestment in education by a cash-strapped government led to an aged and creaking infrastructure. For all its ills, the collapse of the Baathist regime in 2003 and its replacement with a US-installed government wrecked*the country’s educational system. Junior, inexperienced American officers who failed to understand the complexities of maintaining peace between the sects were put in charge of higher education. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 23 view(s)
  • Investors Iraq News's Avatar
    Today, 06:57 AM
    By Hamdi Malik for*Al-Monitor.*Any opinions expressed are those of the author, and do not necessarily reflect the views of*Iraq Business News. The Sept. 25 referendum, in which voters overwhelmingly voted for independence for Iraqi Kurdistan, increased the division between the Turkmen and Kurdish populations in the disputed city of Kirkuk. But Turkmens believe the Kurdish move, which raised objections from several parties, offers an opportunity to strengthen their position in Iraq. Turkmens reported intimidation and repeated attacks on their party in Kirkuk both before and after the referendum. On Oct. 2, someone reportedly fired on the party headquarters and even lobbed a grenade at the building. Turkmen parliament member Hassan Tauran confirmed the news in a TV interview, adding, “This is the fifth attack during the week that followed the referendum.” Turkmens strongly oppose the Kurdistan Regional Government’s efforts to annex Kirkuk and other mixed-population areas, and they hold the Kurdish side responsible for the attacks. On Sept. 19, Turkmen parliament member Jassim Mohammed al-Bayati accused what he called the “gangs” of Kirkuk’s Kurdish governor of kidnapping a young Turkmen. But it is difficult to get to the truth behind these attacks amid the tension plaguing the city. Kurdish forces affiliated with the Patriotic Union of Kurdistan gained full security and military control over the city after June 2014, when the Iraqi army’s 12th division withdrew in the face of the Islamic State’s overwhelming advance. Turkmens are the third-largest ethnic group in Iraq and say they have been denied their rights since Saddam Hussein was overthrown as president in 2003. Part of the problem is the deep sectarian conflict between Sunni and Shiite Turkmens that kept them from forming unified political blocs. When the new regime based on sectarian and ethnic quotas was established in Iraq, the Turkmens lacked the political experience of the Shiites and Kurds. The Turkmens have been involved in sectarian strife in many areas, particularly in Tal Afar, reaching the point of military clashes. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 24 view(s)
  • Investors Iraq News's Avatar
    Today, 06:57 AM
    By Bijan Khajehpour, for*Al-Monitor.*Any opinions expressed are those of the author, and do not necessarily reflect the views of*Iraq Business News. Iran and the Kurdistan Regional Government (KRG) in Iraq have historically been on good terms. During the Saddam Hussein years, Iran was one of the main countries to host Kurdish leaders. In the post-Saddam era, Tehran and Erbil have enjoyed good neighborly relations. This relationship manifested itself in Iranian forces coming to the rescue of the Kurdish regions in their fight against the Islamic State (IS) in the summer of 2014. However, the recent independence referendum in the KRG has angered Tehran, and it is clear that the Kurdish moves will impact on both bilateral ties and wider regional alignments. One important aspect to consider when assessing*the fallout between Iran and the KRG following the independence vote is the economic dimension of their relationship in the geostrategic context of Iranian concerns. Iran and the KRG have a multilayered relationship; most importantly, it is not all driven by the government. On the one hand, there are various trade links between the two sides, starting from very active border markets up to cross-border trade and investment. There are five border markets between Iran and*Iraqi Kurdistan. Prior to the recent events, there were plans to expand such entities*to create jobs and also shift the unofficial trade toward official*channels. In fact, the KRG is an important market for Iranian exporters. The trade volume between the two sides amounted to $8 billion in 2014, which made Iran the KRG’s second-largest trading partner, after Turkey. In recent years, Iranian exports to the Kurdistan Region*have dropped due to the conflict against IS. Yet, according to Kurdish sources, the trade volume between Iran and the KRG stood at $4 billion in 2016. This means that approximately 40% of the Iran-Iraq trade goes through the KRG. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 27 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 11:30 PM
    U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria, conducting three strikes consisting of three engagements in recent days, Combined Joint Task Force Operation Inherent Resolve officials reported today. Officials reported details of the strikes, noting that assessments of results are based on initial reports. Strike in Syria In Syria, coalition military forces conducted one strike consisting of one engagement Oct. 15 near Dayr Az Zawr, engaging an ISIS tactical unit and destroyed two fighting positions. Strikes in Iraq In Iraq yesterday, coalition military forces conducted two strikes consisting of two engagements against ISIS targets: Near Rahwa, a strike engaged an ISIS tactical unit and destroyed an improvised explosive device weapons facility. Near Qaim, a strike destroyed a vehicle-borne-IED factory. Part of Operation Inherent Resolve These strikes were conducted as part of Operation Inherent Resolve, the operation to destroy ISIS in Iraq and Syria. The destruction of ISIS targets in Iraq and Syria also further limits the group’s ability to project terror and conduct external operations throughout the region and the rest of the world, task force officials said. The list above contains all strikes conducted by fighter, attack, bomber, rotary-wing or remotely piloted aircraft; rocket-propelled artillery; and some ground-based tactical artillery when fired on planned targets, officials noted. Ground-based artillery fired in counterfire or in fire support to maneuver roles is not classified as a strike, they added. A strike, as defined by the coalition, refers to one or more kinetic engagements that occur in roughly the same geographic location to produce a single or cumulative effect. For example, task force officials explained, a single aircraft delivering a single weapon against a lone ISIS vehicle is one strike, but so is multiple aircraft delivering dozens of weapons against a group of ISIS-held buildings and weapon systems in a compound, having the cumulative effect of making that facility harder or impossible to use. Strike assessments are based on initial reports and may be refined, officials said. The task force does not report the number or type of aircraft employed in a strike, the number of munitions dropped in each strike, or the number of individual munition impact points against a target. (Source: US Dept of Defense) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 33 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 11:10 AM
    By John Lee. Iraq is reportedly considering using security forces to prevent Kurdistan from blocking oil output from Kirkuk. A spokesman for the North Oil Company (NOC) told Reuters that Kurdish officials indicated that they would shut down production at the Kirkuk oilfield, ostensibly for security reasons, but as a means of putting pressure on Baghdad. Kirkuk produces around 200,000 barrels per day, out of total Kurdish production of over 600,000 bpd. More from Reuters here. (Source: Reuters) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 40 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 11:10 AM
    Federal forces in control of large areas of Kirkuk city; further Kurdish withdrawals in Nineveh/Diyala Over the course of October 16, Iraqi federal forces advanced into many parts of Kirkuk city and adjacent military and energy facilities. The Counter-Terrorism Service (CTS), supported by the Iraqi Army and Federal Police took control of the K1 military base, the governor’s palace, the Kirkuk Provincial Council headquarters, the North Oil Company and North Gas Company headquarters, the Kirkuk Regional Air Base, and key areas of Kirkuk city and road junctions. While Popular Mobilization Units (PMU) took part in operations in rural areas, they were not deployed into the Kirkuk city area.* Local Kurdish forces aligned with the Patriotic Union of Kurdistan (PUK) offered minimal resistance as federal forces moved into the area, many media reports have focused on an agreement in place between the PUK leadership and Baghdad for an orderly transfer of the facilities listed. As a result, Baghdad is now in control of the portions of PUK-controlled Kirkuk that it held prior to the 2014 military collapse.** Government forces were also reported to have moved into the oil fields of Dibis district that have been held by forces loyal to the Kurdistan Democratic Party (KDP) since 2014. These fields produce 275,000 barrels of oil per day, or nearly half the 620,000-barrel output of the Kurdistan Regional Government (KRG). Some media reports claimed that thousands of Kurdish civilians have fled Kirkuk city and its surrounding area.* Other reports claimed that crowds of ethnic Turkmen who opposed Kurdish control of the city celebrated on the streets of Kirkuk.* The US has not opposed Baghdad’s return to Kirkuk in part because the move was framed in terms of restoring the status quo before the Islamic State (IS) crisis.* This theme has been echoed by the majority of the international community. Separate unconfirmed reporting has indicated that Sinjar, 100km west of Mosul in Nineveh province, is now under the control of ISF/PMU forces following the withdrawal of Peshmerga forces from the town. Reporting on October 16 had indicated a build-up of government forces to the south and east of Sinjar. Reporting last night indicated that talks were underway for a peaceful handover. Yazidi elements of the region’s majority Shia PMU forces had apparently stated their unwillingness to confront Peshmerga owing to the close ties between the groups.* Reports from Diyala province have also claimed that Kurdish forces have withdrawn from positions in the Mandali district northeast of Baquba as Iraqi federal forces entered Khanaqin district to the south of Mandali. (Source: GardaWorld) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 35 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 11:10 AM
    Coalition military officials are monitoring military movements near Kirkuk, Iraq, following reports of an incident, Pentagon Director of Press Operations Army Col. Rob Manning told reporters today. “The coalition is monitoring movements of military vehicles and personnel in the vicinity of Kirkuk, he said. “These movements of military vehicles so far have been coordinated movements, not attacks.” Coalition forces and advisers are not supporting the activities of Iraqi government or Kurdistan Regional Government forces near Kirkuk, Manning said. “We are aware of reports of a limited exchange of fire during the predawn hours , and we believe this to have been an isolated incident,” he said of media reports of fighting between Iraqi and Kurdish fighters. “We have not seen levels of violence suggested in some media reports,” he said, adding that the coalition strongly urges all sides to avoid additional escalatory actions, opposes violence from any party, and urges against destabilizing actions that distract from the fight against ISIS and undermine Iraq’s stability. Support for Unified Iraq The United States continues to support a unified Iraq, Manning said. “Despite the Kurdistan Regional Government’s unfortunate decision to pursue a unilateral referendum, dialogue remains the best option to diffuse ongoing tensions and long-standing issues,” he noted. The Defense Department remains focused on the fight against ISIS, a terrorist organization that threatens the states in the region and the international community, Manning said. “We call on all actions in the region to focus on this common threat, and avoid stoking tensions among the Iraqi people. We remain focused on destroying ISIS,” he said. (Source: US Dept of Defense) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 37 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 11:10 AM
    From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Peshmerga fighters and civilian residents flee Kurdish areas around Kirkuk after Iraqi military forces gained control of the northern city. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 37 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 11:10 AM
    U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Sunday, conducting ten strikes consisting of 11 engagements, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in Syria In Syria, coalition military forces conducted two strikes consisting of two engagements against ISIS targets: Near Ash Shadaddi, a strike engaged an ISIS tactical unit and destroyed a fighting position. Near Dayr Az Zawr, a strike engaged an ISIS tactical unit and destroyed a tactical vehicle. Strikes in Iraq In Iraq, coalition military forces conducted eight strikes consisting of nine engagements against ISIS targets: Near Qaim, four strikes engaged an ISIS tactical unit and destroyed five supply routes, two vehicle-bomb factories and an ISIS-held building. Near Rutba, two strikes engaged two ISIS tactical units and destroyed three vehicles. Near Rawa, a strike destroyed two command-and-control nodes and an anti-air artillery system. Near Tuz, a strike engaged an ISIS tactical unit and destroyed a tunnel. Additionally, officials announced details today of an Oct. 14 strike near Qaim for which the information was not previously available. The strike destroyed five ISIS supply routes and a tunnel entrance. Part of Operation Inherent Resolve These strikes are conducted as part of Operation Inherent Resolve, the operation to destroy ISIS in Iraq and Syria. The destruction of ISIS targets in Iraq and Syria also further limits the group’s ability to project terror and conduct external operations throughout the region and the rest of the world, task force officials said. The list above contains all strikes conducted by fighter, attack, bomber, rotary-wing or remotely piloted aircraft; rocket-propelled artillery; and some ground-based tactical artillery when fired on planned targets, officials noted. Ground-based artillery fired in counterfire or in fire support to maneuver roles is not classified as a strike, they added. A strike, as defined by the coalition, refers to one or more kinetic engagements that occur in roughly the same geographic location to produce a single or cumulative effect. For example, task force officials explained, a single aircraft delivering a single weapon against a lone ISIS vehicle is one strike, but so is multiple aircraft delivering dozens of weapons against a group of ISIS-held buildings and weapon systems in a compound, having the cumulative effect of making that facility harder or impossible to use. Strike assessments are based on initial reports and may be refined, officials said. The task force does not report the number or type of aircraft employed in a strike, the number of munitions dropped in each strike, or the number of individual munition impact points against a target. (Source: US Dept of Defense) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 41 view(s)
  • Will-it-happen?'s Avatar
    10-16-2017, 09:43 PM
    Fantastic Where's the cash ?
    13 replies | 1152 view(s)
  • Wolverine's Avatar
    10-16-2017, 12:56 PM
    Petrochina expresses interest in Iraq's Nassiriya refinery 10/13/2017 BAGHDAD (Reuters) — Petrochina has expressed interest in developing the Nassiriya oil refinery in southern Iraq, the oil ministry said in a statement on Friday. A Petrochina executive expressed the company’s interest at a meeting with Oil Minister Jabar al-Luaibi in Baghdad. The refinery is part of a larger project to develop the Nassiriya region’s oil and gas reserves. The plan provides for increasing the fields’ output and the processing of their production at the new Nassiriya refinery, and to recover the associated gas to supply power stations or process it for exports. Reporting by Maher Chmaytelli; editing by Jason Neely
    0 replies | 56 view(s)
  • Investors Iraq News's Avatar
    10-16-2017, 11:58 AM
    By John Lee. Iraqi armed forces have reportedly captured the headquarters for the North Oil Company (NOC), northwest of Kirkuk, from Kurdish forces, without fighting. A Kirkuk-based official told Reuters that the Baghdad’s forces had also taken control of the K1 airbase and were deploying in the Baba Gurgur field and the North Oil refinery. Read more here. (Source: Reuters) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 46 view(s)
  • Investors Iraq News's Avatar
    10-16-2017, 11:58 AM
    DNO ASA, the Norwegian oil and gas operator, today reported the first payment from the Kurdistan Regional Government under the recently concluded agreement covering outstanding receivables for past crude oil deliveries. Under the agreement effective 1 August 2017, the Company was assigned the Government’s 20 percent interest in the Tawke license as well as three percent of gross Tawke license revenues payable monthly over a five-year period. The payment of USD 4.02 million to DNO represents three percent of gross Tawke license revenues during August. An entitlement invoice for that month’s export deliveries has been issued separately and will be shared pro-rata with Genel Energy plc upon receipt. Following the receivables settlement, DNO’s stake in the Tawke license stands at 75 percent with Genel holding the balance. (Source: DNO) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 47 view(s)
  • Investors Iraq News's Avatar
    10-16-2017, 11:58 AM
    Iraqi Security Forces (ISF), Counterterrorism Services (CTS), Federal Police (FP), and Popular Mobilization Units (PMU) launched a combined offensive with intent to seize the K1 military base, Kirkuk airport, and Kirkuk’s oilfields at around 0200hrs (local) on October 16. The offensive followed two days of failed negotiations after the government of Iraq demanded Kurdish forces withdraw from the disputed areas around Kirkuk and cede control to Iraqi federal forces. Crisis talks on October 15 failed to resolve the standoff as Kurdish leaders refused Iraqi government demands to reject the referendum result. Clashes were subsequently reported to have broken out between Iraqi and Kurdish forces south of the city of Kirkuk. Iraqi state media said that federal troops had entered disputed territories occupied by the Kurds, saying they had taken control of ‘vast areas’ without opposition from the Kurdish Peshmerga. Kurdish officials, however, denied that the Iraqi forces had been able to get close to Kirkuk city and said that the oil fields west of the city were still under Kurdish control. The Kurdistan Region Security Council (KRSC) said in a statement that federal forces were advancing along two routes along the Taza-Kirkuk intersection and Maryam Bag Bridge, both South of Kirkuk. Separate reports claimed artillery fire could be heard to the south of Kirkuk city in the early hours.* An initial statement by the US state department said it was ‘very concerned’ about reports of a confrontation and was ‘monitoring the situation in Kirkuk closely’. Oil prices reported to have jumped early on October 16 amid reports of the clashes in Kirkuk. (Source: GardaWorld) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 45 view(s)
  • Investors Iraq News's Avatar
    10-16-2017, 11:58 AM
    On Thursday 12th October a delegation of IBBC Members, led by Baroness Nicholson, Honorary President, met with H. E. Mr Asaad A., the recently appointed Governor of Basrah. The meeting took place in the Governor’s office, included a Lunch and lasted until the early evening. The Governor presented his plans for Basrah and asked the company representatives how they could contribute to help achieve his ambitious objectives. IBBC members used the opportunity to introduce their companies and their services to the Governor and to participate in a wide ranging discussion with him. Mr Rasmi Al Jabri, Deputy Chairman of IBBC, who facilitated the meeting was delighted with its many outcomes. He said that with Mr Edani at the helm of the Governorate the Province had a real chance to develop and modernise. He further commented that IBBC and all of its members stood ready to support Governor in his crucial work. The IBBC delegation included representatives of the following companies: Basrah Engineering Group, Basrah Chamber of Commerce, Dar Al-Handasah, Ernst & Young, Garda World, Gulftainer, International Islamic Bank, Khudairi Group, Pell Frischmann, Penspen, Petrofac, Raatba Contracting Company, Restrata, Rumaila Operating Organisation (ROO) and Solar Turbines. The meeting was also attended by Dr Ali Nasir and Phil Sherwood of the AMAR foundation. (Source: IBBC) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 46 view(s)
  • Investors Iraq News's Avatar
    10-16-2017, 11:58 AM
    Iran reported to have shut crossing with Kurdish region; subsequently denied by Iran Reports on October 15 claimed that the Iranian authorities shut a main border crossing with the Kurdish region amid increased tensions. Ali Tawfiq, director of the terminal in Sulaimaniyah province reported that the main border crossing at Bashmaq had been closed by the Iranian authorities; he added that no reason has been cited for the Iranian move. Iran has three main official crossings with the Kurdish region; Haji Omaran in Erbil Province and Parwezkhan, and Bashmaq in Sulaymaniyah province. Reports later on October 15 claimed that Iran’s Foreign Ministry subsequently denied reports that Tehran had closed its border crossings with the Kurdish region. (Source: GardaWorld) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 52 view(s)
  • Investors Iraq News's Avatar
    10-16-2017, 09:43 AM
    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 daniel.matthews@garda.com Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 48 view(s)
  • haggisbasher's Avatar
    10-16-2017, 08:04 AM
    Been asking for CD and sent it to all warka e-mail addresses I have and just got a response form 3044 giving me totals of shares in good name and also shares with warka proxy account, and asked them to be transferred to good name.GOOD NEWS FOR WARKA RESPONSE.
    13 replies | 1152 view(s)
  • Investors Iraq News's Avatar
    10-14-2017, 06:03 PM
    Advertising FeatureRabee Securities Iraq Stock Exchange (ISX) market report (week ending: 12th Oct 2017). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD778 (+2.5%) / $795 (+2.1%) (weekly change) (-19.0% and -16.1% YTD change, respectively). The number of week traded shares was 14.4bn and the weekly trading volume was IQD20.2bn ($15.9mn). ISX Company Announcements Al-Bilad Islamic Bank for Investment & Finance (BLAD) will resume trading on Oct. 15, 2017, because the company fulfilled ISX request to explain why the prices have touched the lower limit in the two sessions (Oct. 5-8, 2017). The company announced that the shares of Mr. Abdul-Jalal Said Btti were offered to be sold based on a decision of the Badaa’a Court. Al-Ameen Financial Investment (VAMF) completed the capital increase procedures from IQD1.0bn to IQD1.5bn through 50% rights issue. Iraqi Engineering Works (IIEW) will hold AGM* on Oct. 15, 2017 to discuss and approve 2016 annual financial results. ISX suspended trading of IIEW starting Oct. 10, 2017. Ishtar Hotels (HISH) resumed trading on Oct. 9, 2017 after fulfilling ISC disclosure requirements and publishing 6M17 financial results. Gulf Commercial Bank (BGUC) held AGM* on Oct. 12, 2017 to discuss and approve 2016 annual financial results and distributing 1.96% cash dividend (IQD0.0196 dividend per share, 5.8% dividend yield). ISX suspended trading of BGUC starting Oct. 9, 2017. Modern Chemical Ind. (IMCI) will hold AGM* on Oct. 20, 2017 to discuss and approve 2016 annual financial results and distributing cash dividend. ISX will suspend trading of IMCI starting Oct. 17, 2017. Economy Bank (BEFI) sent to the ISX the CBI letter of Oct. 2, 2017 confirming its letter of Feb. 2, 2017 that the CBI has lifted the custody of BEFI and requested all relevant parties to settle their commitments with the new management to obtain all their financial rights as well as lifting the block on fixed and current assets so that the bank can resume its activities and fulfill its obligations. Mamoura Realestate Investment (SMRI) completed the capital increase procedures from IQD19.2bn to IQD 22.78bn through 15% rights and 3.6% bonus issues. Iraq Baghdad for General Transport (SBPT) resumed trading on Oct. 11, 2017 after discussing and approving 2016 annual financial results and deciding to distribute 130% cash dividends (IQD1.3 dividend per share, 9.3% dividend yield). Cross Transactions: 5.0bn shares of Baghdad Soft Drinks (IBSD) on Oct. 9, 2017, which represents 2.8% of IBSD capital. 1.25bn shares of Trans Iraq Bank for Investment (BTRI) on Oct, 9, 2017, which represents 0.47% of BTRI capital. 2.0bn shares of Al-Harir Money T. (MTAH) on Oct. 10, which represent 4.4% of MTAH capital. 2.0bn shares of Trans Iraq Bank for Investment (BTRI) on Oct. 12, 2017, which represents 0.75% of BTRI capital. 0.5bn shares of Cihan Bank for Islamic & Finance (BCIH) on Oct. 12, 2017, which represents 0.2% of BCIH capital. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 86 view(s)
  • Investors Iraq News's Avatar
    10-13-2017, 03:46 PM
    By John Lee. Austria’s OMV has said its third-quarter clean operating result “was positively impacted” by about 90 million euro ($107 million) following a settlement over a dispute relating to the Khor Mor and Chemchemal fields in Iraqi Kurdistan. On August 30, 2017, the Kurdistan Regional Government (KRG) and Dana Gas , Crescent Petroleum and Pearl Petroleum Company Limited reached a settlement under which the KRG agreed to immediately pay $1 billion to the consortium to settle the long-running legal dispute. Of the EUR 90 million, OMV received approximately 60 percent as dividend from Pearl while around 40 percent was put into a dedicated accountfor future investments in Khor Mor. (Source: OMV) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 87 view(s)
  • Investors Iraq News's Avatar
    10-13-2017, 03:46 PM
    Genel Energy has announced that Paul Schofield is stepping down from the role of Chief Operating Officer and will leave the Company on 16 October 2017. Dr. William (Bill) Higgs will succeed him in the role and will join the Company on 6 November 2017. Dr. Higgs has nearly 30 years of global exploration, development and operations experience, including over five years in executive roles for independent Exploration and Production companies. He is a qualified geologist with extensive expertise in all engineering and other technical and commercial aspects of hydrocarbon development and production. Most recently, as Chief Operating Officer for Ophir Energy plc, he was responsible for managing the global asset portfolio. Prior to joining Ophir he was Chief Executive Officer of Mediterranean Oil and Gas, overseeing the successful sale of the company in 2014. He previously spent 23 years at Chevron across a number of global roles, including responsibility for reservoir management of the giant Tengiz oil and sour gas field in Kazakhstan. Murat Özgül, Chief Executive of Genel, said: “I would like to thank Paul for his efforts at Genel and wish him all the best for the future. I look forward to working with Bill as we continue to maximise the value of our assets in the Kurdistan Region of Iraq.” (Source: Genel Energy) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 85 view(s)
  • Investors Iraq News's Avatar
    10-13-2017, 03:46 PM
    The European Commission has adopted a €60.4 million stabilisation package to support Iraq after the liberation of areas held by Da’esh, with the country still facing humanitarian, security, stabilisation and reconciliation challenges. This new funding comes in addition to EU humanitarian aid in the country and other forms of financial assistance that now total €608.4 million since the beginning of the crisis. High Representative/Vice-President Federica Mogherini (pictured) said: “At this important juncture in Iraq history, we stand at the side of the Iraqi people and authorities who have shown courage and resilience in their fight against Da’esh. Today more than ever, the EU is present to assist them in building their post-Da’esh future. “We are and will continue to be active on the political, humanitarian, security and development sides to help stabilising the liberated areas. This is a pre-condition for reconciliation,*for the return of the many internally displaced who are eager to come back and*for the longer term stability in Iraq.” Commissioner for International Cooperation and Development Neven Mimica said: “The liberation of Mosul and other areas previously occupied by Da’esh is a first step towards peace. The EU has been supporting the needs of millions of Iraqis and will not stop there. They can also count on EU assistance for the further stabilisation and development efforts of their country.” The stabilisation package includes €50.4 million help to restore basic services, repair essential public infrastructure, as well as to reactivate economic activity through grants to small businesses. This will be done through the UNDP Funding Facility for Stabilisation, which is working in newly retaken areas in Anbar, Salah al-Din, Kirkuk, Ninewah and Diyala Governorates. Thanks to more than 1,200 projects, over 2.2 million people have been able to return to their homes. A further €10 million will continue to facilitate the clearance of lands previously contaminated by explosives, by supporting the United Nations Mine Action Service (UNMAS). This will also help creating the conditions for a safe, voluntary and dignified return of more than 3 million internally displaced persons (IDPs). In the past year and a half, with the EU playing a key role in coordination, UNMAS has surveyed and cleared more than 1.8 million m² of land in and around Fallujah and around 160 thousand m² in al Anbar Province. (Source: European Commission) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    10-13-2017, 03:46 PM
    U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Wednesday, conducting 31 strikes consisting of 39 engagements, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in Syria In Syria, coalition military forces conducted 27 strikes consisting of 33 engagements against ISIS targets: Near Abu Kamal, a strike engaged an ISIS tactical unit and destroyed an ISIS vehicle. Near Raqqa, 24 strikes engaged two ISIS tactical units; damaged nine fighting positions; destroyed 11 fighting positions, 12 vehicles, two communication nodes and one ISIS supply route. Near Shadaddai, two strikes destroyed an ISIS headquarters and one staging area. Strikes in Iraq In Iraq, coalition military forces conducted four strikes consisting of six engagements against ISIS targets: Near Qaim, three strikes destroyed an ISIS training camp and staging area. Near Rawah, a strike destroyed a vehicle-borne improvised explosive device and three ISIS supply routes. Oct. 10 Strikes Additionally, two strikes consisting of six engagements were conducted in Syria and Iraq on Oct. 10 for which the information was not previously available: Near Raqqa, a strike engaged an ISIS tactical unit and destroyed a fighting position. Near Rawah, a strike destroyed a VBIED, an ISIS fuel tanker and a vehicle. Part of Operation Inherent Resolve These strikes were conducted as part of Operation Inherent Resolve, the operation to destroy ISIS in Iraq and Syria. The destruction of ISIS targets in Iraq and Syria also further limits the group’s ability to project terror and conduct external operations throughout the region and the rest of the world, task force officials said. The list above contains all strikes conducted by fighter, attack, bomber, rotary-wing or remotely piloted aircraft; rocket-propelled artillery; and some ground-based tactical artillery when fired on planned targets, officials noted. Ground-based artillery fired in counterfire or in fire support to maneuver roles is not classified as a strike, they added. A strike, as defined by the coalition, refers to one or more kinetic engagements that occur in roughly the same geographic location to produce a single or cumulative effect. For example, task force officials explained, a single aircraft delivering a single weapon against a lone ISIS vehicle is one strike, but so is multiple aircraft delivering dozens of weapons against a group of ISIS-held buildings and weapon systems in a compound, having the cumulative effect of making that facility harder or impossible to use. Strike assessments are based on initial reports and may be refined, officials said. The task force does not report the number or type of aircraft employed in a strike, the number of munitions dropped in each strike, or the number of individual munition impact points against a target. (Source: US Dept of Defense) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    10-12-2017, 12:39 PM
    Agility has opened a state-of the-art training facility, known as the Center of Excellence, at the Rumaila Energy Park in southern Iraq. In partnership with Strategic Analytics Team (SAT), the Center of Excellence offers training courses for the local workforce in the oil and gas industry, led by internationally accredited trainers. Training covers a wide variety of topics, including health and safety, lifting and hoisting, defensive driving and logistics solutions. With SAT’s expertise in the field of operational logistics, courses will meet international oil and gas industry standards and focus on developing accredited local content, while enhancing the capabilities of Iraq-based contractors. The Rumaila Energy Park is a one million-square meter, fully serviced industrial park developed by Agility Real Estate to provide a one-stop-shop for companies operating in southern Iraq. The park includes warehouse facilities, workshops, lay-down yards and offices. It is strategically close to the region’s major oil and gas subcontractors. The inauguration was attended by representatives from oil and gas companies and academic institutions, as well as Iraqi government officials. Colin Hindley, CEO, Agility Iraq, said: “The Center of Excellence is part of Agility’s ongoing commitment to building Iraq’s infrastructure and human capital. We are strongly committed to building local capacity in our areas of operations, and this new center is part of this strategy.” Paul Jorgensen, Senior Partner, Strategic Analytics Team, said: “Our partnership with Agility makes the Center of Excellence the first of its type in the Gulf region. At SAT, we take pride in our knowledge and skills in the logistics business, and we are in a unique position to impart the same to aspiring professionals seeking further development. “This is a very exciting opportunity for both SAT and Agility. With a fully developed culture of learning in an open environment that enables access to the latest information and technological innovations, we want the Center of Excellence to become the go-to resource for both logistics companies and students.” Agility Iraq has offices in Basra, Baghdad, and Erbil, serving international airports and the ports of Umm Qasr and Khor Al Zubair. Agility’s operations include freight forwarding (air, ocean, road), cross-border trucking, customs clearance, project logistics, open yard/warehousing distribution, approved HSSE training and route surveys. All of Agility’s operations in Iraq are ISO 9001, ISO 14000, OHSAS 18001-certified. (Source: Agility) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    10-12-2017, 12:39 PM
    By John Lee. Malaysia’s Petronas has reportedly decided to withdraw from its 30-percent participating interest in*Iraq’s giant Majnoon oil field. According to Bloomberg, the decision came as the company considers the returns to be too low. It is expected to hire advisers to help find an interested party to take up the holding. Shell is also said to be trying to sell its 45-percent stake in the field, following a failure to reach agreement with Iraq’s Ministry of Oil. Both Chevron and Total have expressed interest in the project. Petronas is currently involved in Iraq’s Badra, Garraf, Halfaya, and Majnoon. (Source: Bloomberg) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    10-12-2017, 12:39 PM
    By John Lee. Saudi Arabian budget airline Flynas is reported to be planning to start services to several Iraqi cities in the coming weeks. If the plan goes ahead, it would be the first service between the two countries since Saddam Hussein invaded Kuwait in 1990. (Source: Middle East Eye) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    10-12-2017, 12:39 PM
    Finland’s Nokia will modernize and expand Zain Iraq‘s radio networks with its most advanced technologies across Karbala, Najaf and Basra, with a special focus on the holy cities of Karbala and Najaf, to support the expected increase in data and voice traffic during Zeyara as millions of people converge on the region. Zeyara is an annual event in the holy city of Karbala, which culminates in the event of Al Arba’een. It attracts visitors from across the globe and is one of the world’s largest public gatherings. Once completed, the upgrade will allow users to enjoy improved indoor and outdoor coverage in both urban and rural areas as well as increased data throughput, leading to an overall superior customer experience. Nokia’s project management and proven services expertise will be used to expand and modernize Zain Iraq’s 2G and 3G network, providing ubiquitous coverage and faster mobile broadband. Additionally, the Nokia Mass Event Handler will be deployed to address the surge in data and voice consumption expected during Zeyara. The network modernization will allow visitors to remain continuously connected with their loved ones through superior voice and data connectivity during Al Arba’een and beyond. Ali Al-Zahid, Chief Executive Officer of Zain Iraq, said: “Our top priority is to provide superior services for our subscribers. This network modernization and expansion is only the beginning of providing the best possible service quality and coverage with the most advanced technologies across the overall Karbala and Najaf and rest of sourthern region. “We selected Nokia, our longstanding technology partner, for this important project, as we are confident that its advanced technologies will enable our network to provide such superior services. The current project will also enable a best-in-class mobile experience for visitors to Zeyara when we expect a high turnout this year.“ Bernard Najm, head of the Middle East Market Unit at Nokia, said: “Nokia fully understands Zain Iraq’s requirements and is committed to providing leading technologies to enable pioneering services for its subscribers. Nokia’s solutions cater to the unique connectivity requirements of mass events, and will help Zain Iraq address the expected surge in data and voice consumption during Zeyara.” Overview of the solutions: The high capacity and energy-efficient Nokia Flexi Multiradio 10 Base Station will be used to add the third carrier of 5 MHz on the 900 MHz band, to enhance capacity and increase coverage in suburban and rural areas. Nokia’s Mass Event Handler will ensure network performance is not adversely affected because of heavy traffic during Zeyara. Another feature of the software – HSUPA Interference Cancellation – handles data more efficiently, enabling end users to upload pictures without any network glitch. Nokia FlexiZone will be deployed to enhance coverage and capacity of the existing 3G network in Karbala. Nokia’s refarming service will refarm GSM 900 MHz frequency to expand the operator’s 3G network. Nokia’s NetAct virtualized network management software will provide robust capabilities for troubleshooting, assurance, administration, software management and configuration. Nokia’s Network Planning and Optimization (NPO), Network Implementation , and Care services will ensure smooth execution of the project and maximize the return on Zain’s technology investments. (Source: Nokia) Source: Iraq-BusinessNews.com. Post your commentary below.
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