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  • Investors Iraq News's Avatar
    Today, 12:00 AM
    By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for March of 105,102,927 barrels, giving an average for the month of 3.390 million barrels per day (bpd), essentially the same as the 3.391 million bpd exported in February. These exports from the oilfields in central and southern Iraq amounted to 101,395,907 barrels, while exports from Kirkuk amounted to 3,287,439 barrels, and from Qayara 129,041 barrels. Exports to Jordan were 290,540 barrels. Revenues for the month were $2.989 billion at an average price of $28.436 per barrel. February export figures can be found here. (Source: Ministry of Oil) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 12 view(s)
  • Investors Iraq News's Avatar
    Today, 12:00 AM
    Prime Minister Adil Abd Al-Mahdi on Wednesday chaired a meeting of the Higher Committee for Health and National Safety. The Committee was established to direct and coordinate Iraq's national efforts to combat Covid-19. The Committee agreed a number of measures, including: Exempting all medicines, medical supplies and devices, diagnostic and laboratory equipment from import license regulations Transferring 50 million US dollars to the General Company for Marketing Medicines and Medical Supplies Establishing a committee to assess current and future market needs in terms of food, medical supplies and agricultural produce, with a mandate to promote Iraqi products Facilitating the transit of lorries and refrigerated trucks carrying foodstuff, agricultural products, medical and veterinary materials between provinces and within cities Monitoring the prices of essential goods to ensure that they remain stable, and to take measures against profiteers, according to law Facilitating the transport of agricultural harvesters and livestock between provinces Establishing a committee at the General Secretariat of the Council of Ministers to investigate and report on support mechanisms for workers in the private sector during Covid-19 Establishing a committee to be chaired by the Minister of Planning to report on the financial impact of Covid-19 on citizens, and to suggest options to provide financial support to affected groups, especially those on low income The Committee also discussed declaring a national day of solidarity to show support for those leading the national effort to combat Covid-19, to thank all Iraqis for their steadfastness and unity, and to pay the nation's respect to Iraqi families who lost loved ones because of Covid-19. During the proposed national day of solidarity, which will be specified later, sirens will sound at a particular moment in the day, and the national anthem will be played on all TV channels, radio stations and other media throughout Iraq. The Higher Committee for Health and National Safety, which is chaired by the Prime Minister, includes several ministers, the Secretary-General of the Council of Ministers, the Governor of the Central Bank of Iraq, the National Security Adviser, and a number of other officials. The Committee is mandated with setting out policies, and adopting the necessary measures to contain Covid-19. It will also coordinate with the Council of Representatives (Parliament), the judicial authorities, as well as relevant international organisations. The Government Crisis Cell will continue to have responsibility for taking the necessary preventive measures and the delivery of Covid-19 health services, subject to the approval of the Prime Minister. (Source: Govt of Iraq) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    Today, 12:00 AM
    By Lujain Elbaldawi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqi government calls on civil society to fight COVID-19Despite the Iraqi government's intensive efforts to fight the novel coronavirus, it seems unable to accommodate the difficult circumstances due to its limited resources, not to mention the political crisis that has been plaguing it since protests erupted in October 2019. The Iraqi government is thus calling on civil society and charities to provide aid with their resources. Click here to read the full story. Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    Today, 12:00 AM
    By Maurizio Coppola for openDemocracy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. While the Iraqi government imposes a curfew and some cities close schools, universities and malls to limit the spread of the coronavirus, living conditions are getting more and more precarious due to lack of social and health protection. Social protests are shrinking due to risk and fear of contagion, but tens of thousands of people continue to build popular solidarity. The coronavirus has now reached the Middle East and North Africa and is having a serious impact on people's daily lives. Today, the virus is also producing important changes with regard to the social protests that had begun to rock a number of states in the region in the past year. More here. (Source: openDemocracy) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    Yesterday, 12:09 PM
    Intelyse, a Sicuro Group company, has announced that it is will provide extraction flights for clients to get them home from Iraq during the coronavirus/COVID-19 crisis. It will fly people from Baghdad and Erbil to Doha, using a 150-seat Boeing 737-700. The first flight goes into Iraq next week with a further two flights to follow. (Source: Sicuro) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    Yesterday, 10:00 AM
    By John Lee. Russia's Gazprom Neft has reportedly said it will not reduce investment in its projects in Iraqi Kurdistan, despite a request from the Kurdistan Regional Government (KRG) to do so. Reuters reports that following a slump in oil prices, oil producers have been asked to reduce their investments, which governments often have to partially reimburse as part of their contractual arrangements. Gazprom Neft holds a participating interest of 40 percent in the Garmian block and 80 percent in the Halabja and Shakal blocks. The Sarqala field is located within the Garmian block. More here. (Source: Ekurd, Reuters) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 11 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 10:00 AM
    By John Lee. The coronavirus pandemic has reportedly led to thousands of new jobs to truck drivers in the Kurdistan Region. According to a report from Rudaw, while the Ibrahim Khalil border crossing between Turkey and Iraqi Kurdistan has been closed to tourists and truckers alike, freight is being transferred to local truck drivers to be delivered to destinations in the region. More here. (Source: Rudaw) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    Yesterday, 10:00 AM
    The Iraqi Children Foundation (ICF) has announced that, due to the ongoing COVID-19 crisis, it has made the difficult decision to cancel its annual "In Their Shoes" 5K run, originally scheduled for June. In a statement, the ICF also renewed its call for donations to help it support Iraqi children and their families: Dear friends, At ICF, our highest priority is the health and safety of Iraqi children, and of our community of wonderful supporters around the world. With this in mind, and considering the ongoing COVID-19 crisis, we have made the difficult decision to cancel our "In Their Shoes" 5K in June this year. While we are disappointed that we will not get to meet in person in June, we need your support now more than ever. Iraqi children and their families face many of the biggest challenges imaginable, now including the rapid spread of COVID-19. We are committed to continuing to support these children with essential services including healthcare and nutrition, and we will continue to update you with how we are responding to the ever-evolving challenge of the current pandemic. Please watch this space for more information about how you can support and help us grow our community. We look forward to staying in touch virtually for now, and we will look forward to seeing you for our "In Their Shoes" 5K in 2021. We will be in touch with anyone who has registered online for the 5K already to outline next steps. If you have the capacity to donate at this critical time, please click the button below. Thank you for your ongoing support; together we will continue to work to protect the vulnerable orphans and street children of Iraq. With love, The ICF Team Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    Yesterday, 07:52 AM
    By Adnan Abu Zeed and Dana Taib Menmy for Al-Monitor. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi prime minister-designate faces challenges in gaining political supportAs Iraq's Prime Minister-designate Adnan al-Zurfi struggles to secure adequate parliamentary votes for his candidacy, Iraqi political parties are uncertain about whether they should support him, find a new candidate or even keep caretaker Prime Minister Adel Abdul Mahdi in office. President Barham Salih nominated Zurfi on March 17. He must now form a cabinet and obtain parliamentary approval for that Cabinet by April 17 to become prime minister. Click here to read the full story. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 11 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 07:52 AM
    The Government of Japan has contributed US$ 1.3 million towards UNFPA interventions for integrated lifesaving reproductive health and gender-based violence services to vulnerable women and girls in five governorates across Iraq. UNFPA has been adopting an integrated approach to enable women and girls to receive a comprehensive package of services, continuum of care, as well as timely referrals. The Japanese contribution will ensure that 40,000 women and girls, out of whom 25,000 are pregnant women, from the IDP, returnee, and refugees in the humanitarian settings in Anbar, Diyala, Kirkuk, Ninewa and Salah Al-Din governorates, have access to prevention and response to reproductive health and gender-based violence services which include awareness-raising sessions and case management, as well as consultations and treatment. In addition, the new commitment will enable UNFPA to improve the capacity of national service providers, especially female caregivers, to deliver high-quality assistance, including psychosocial and referral services in the targeted five governorates. Dr Oluremi Sogunro, UNFPA Representative to Iraq, said: "We are thankful for Japan's trust in UNFPA programme in Iraq ... Women and girls continue to suffer from the impact of the humanitarian crisis. "Thanks to Japan's trust, we will ensure that not only we provide the muchneeded reproductive health and gender-based violence services but we strengthen the existing national capacities to build the resilience of the system." His Excellency Mr Naofumi Hashimoto, Ambassador of Japan to Iraq, stated: "Japan has recently decided to provide a new assistance package for Iraq amounting to USD 41 million including this project as assistance for women and girls. "With this package, the total amount of Japan's assistance to the people affected by the crisis reaches US$ 540 million since 2014. I hope that the assistance from the Government and people of Japan will help ensure protection of women and girls among IDP, returnee and refugees." Japan has been a UNFPA long-standing partner with contributions amounting to a total of US$ 11,852,085 over the last five years ensuring women and girls across Iraq have access to health and protection services. UNFPA, the United Nations Population Fund, delivers a world where every pregnancy is wanted, every childbirth is safe and every young person's potential is fulfilled (Source: UN) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • BatmaninIraq's Avatar
    Yesterday, 01:50 AM
    The central bank announces that it will begin to boost bank balances abroad through the foreign currency sale window | readings: 97 Baghdad / Nina / The Central Bank of Iraq announced that it would begin to boost bank balances abroad through the foreign currency sale window. A bank statement said: The efforts of various institutions in our country are joining together to combat the Corona epidemic and to get out safely from this crisis. He called on banks, exchange companies and electronic payment companies to take their responsible role at this stage. He added: Although the curfew has affected the activities and actions of all official institutions, including the Central Bank of Iraq, we have taken the initiative to employ our cadres in order to sustain the payment of salaries and finance of food, agricultural, medical and all necessary materials. He stressed that there is no change in his policy in financing trade and imports, which will resume after the ban is completely lifted. He explained: As for the current stage, the bank will begin to enhance bank balances abroad through the window of selling foreign currency according to a schedule of working days and according to the requirements of the situation and this is to be reported first-hand, for the purposes of financing the credits of importing foodstuffs, agricultural supplies, medical materials and goods necessary for the country and citizens.
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  • Investors Iraq News's Avatar
    04-01-2020, 06:21 PM
    By John Lee. UAE-based Dana Gas is reported to be considering spinning off its upstream business, which would include its 35-percent stake in Pearl Petroleum, which owns the righs to the Khor Mor (pictured) and Chemchemal fields in the Kurdistan Region of Iraq (KRI). TradeArabia quotes Hamid Jafar, Chairman of Dana Gas, as saying: "We are studying the feasibility of a demerger as we believe it could be value accretive for our shareholders." The new company would also be listed on the Abu Dhabi Stock Exchange (ADX). More here. (Source: TradeArabia) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    04-01-2020, 06:21 PM
    Ambassador Stephen Hickey addresses IBBC members via videoconferenceOver 50 Iraq Britain Business Council (IBBC) members yesterday participated in a video conference call with Ambassador Stephen Hickey, from his office in the UK Baghdad Embassy. The Ambassador updated members on the current situation in Iraq, covering four key areas of interest: COVID 19 response and challenges, The Political landscape and implications for Government , the Economy and impact of oil prices, and Security and how this is impacting on coalition activity in the region. The Ambassador took questions from a number of members concerned about decision making within Government at this time of uncertainty, the role and support of UKEF regarding on going projects, the role of the dollar and local currencies, the likely nature of a new Government, and the general outlook for Iraq. Feedback from the Conference suggests videoconferencing will become a regular feature of IBBC activity and reporting, due to the high volume of attendees, and IBBC expect to set up regular calls with Ministers, institutions and officials to engage with members directly and as a group. (Source: IBBC) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 14 view(s)
  • Investors Iraq News's Avatar
    04-01-2020, 06:21 PM
    By Dr Khalil Abdul Kareem, Manager, AMAR ICF Clinic, Khanke Camp, Iraq. Iraqis Prepare for Another War. This Time it's Covid-19Life is so unfair. Just when you think a displaced person's world can't get any worse here in northern Iraq, along comes a virus that threatens to be the biggest disaster of all. For almost six years, hundreds of thousands of Yazidi men, women and children have lived a truly miserable life. First the monsters of Daesh (ISIS) attacked their towns and villages. Thousands were killed and thousands more women and girls were kidnapped, raped and sold as slaves. The rest managed to escape. But they left behind their homes, their precious possessions, their jobs. Their lives changed beyond recognition for ever. Since then, the majority have been forced to live in the sprawling displacement camps. For years now they have slept under canvas, on hard concrete floors. Sanitation is basic. This part of Iraq is dreadfully cold in winter and insanely hot in summer - it is sometimes more than 50c! It is the perfect breeding ground for sickness. Now we are faced with COVID-19. In an environment like this, it will spread like wildfire unless we take every possible precaution. It is a race against time. Here in Khanke Camp, on the outskirts of the city of Dohuk, we have been working non-stop. Khanke is home to more than 15000 people, and there are almost double that amount of people living as IDPs around the perimeters. I manage the only health centre here, which is run by the UK-based charity The AMAR International Charitable Foundation (www.amarfoundation.org) We have a small staff of locally trained medical professionals - doctors, nurses, lab technicians and pharmacists - and around 25 women health volunteers (WHVs). For the last week we have all been working non-stop to try educate the entire camp about how to keep COVID-19 at bay. The place is already over-crowded and there can be as many as 10 people sharing just one tent. All our teams are out from first light, visiting people and giving them as much information as we possibly can. The biggest message is of course to wash your hands for at least 20 seconds. Something that is very easy to do when you have access to a proper bathroom and running water, but not so easy here. But people are scared, so they are really getting the message. They understand the need to distance and to stay away from others as much as they can. Our clinic is staying open six days a week, and we get up to 200 patients a day. Gastric infections are commonplace of course, as is flu, hypertension, chronic anxiety and depression. Now every patient is given a lesson in how to keep themselves safe from COVID-19. Everyone knows it's a threat. They all see it on the news, so they are eager to find out any way they can to protect themselves. My staff too - like medics around the world - are frightened they could be the first to develop the symptoms. They all have families. Most are the sole providers. If they get sick, what will happen they ask me. We all take every possible precaution. But access to PPE is limited. The Dohuk Health Directorate supply us, but they have limited stocks of masks, gowns, gloves. Certainly nowhere near enough to supply the population of the entire camp. We need outside help and support. Right now. We have done what we can. The rest is up to god. We pray COVID-19 will not make it here. SUPPORT AMAR ICF VIA VIRGIN MONEY HEREorPLEASE FIND THE DONATION FORM HERE Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    04-01-2020, 06:21 PM
    KEY MESSAGES 695 confirmed cases of COVID-19 in Iraq as of 1 April 2020 50 fatalities confirmed due to COVID-19 as of 1 April 2020 170 patients who have recovered from the virus Curfews/airport closures extended WHO expects spike in recorded cases due to increased testing New ministerial high committee formed SITUATION OVERVIEW As of 1 April 2020, the Iraqi Ministry of Health has confirmed 695 cases of COVID-19 in Iraq; 50 fatalities; and 170 patients who have recovered from the virus. Approximately one-quarter of the cases are in the Kurdistan Region of Iraq (KRI; the remainder are in federal Iraq. The Government of Iraq (GOI) has extended curfews and movement restrictions in federal Iraq until 19-April. The Kurdistan Regional Government (KRG) has extended curfews and movement restrictions until 10-April, and announced that government offices will remain closed until 16-April. Airports throughout Iraq and the KRI will remain closed until 11-April. The GOI has established a ministerial High Committee for National Health and Safety to help contain the outbreak of COVID-19. The committee is chaired by the Prime Minister and includes the Ministers of oil, finance, planning, foreign affairs, interior, higher education, trade, health, agriculture, labor and social affairs, communications and transportation. Other members include the National Security Adviser, Civil Aviation Authority Director, Kurdistan Region representative, Communication and Media Commission Director, Border Authority Director and the head of the Iraqi media network. The confirmed case load in Iraq has doubled over the past week, which the World Health Organization (WHO) attributes primarily to more labs opening throughout the country and the increased availability of testing. There is expected to be a continued surge in confirmed cases in coming days. The Iraqi Red Crescent Society has undertaken a mass disinfection campaign throughout the country, sterilizing thousands of sites including markets, shops, residential areas, hospitals, health institutions, prisons, mosques and shrines. Camp management actors are working with the Iraq Information Centre (IIC) on the mass dissemination of information related to COVID-19 prevention and preparedness via SMS for families living in camps. The IIC is a call centre that provides information on humanitarian assistance in Iraq to IDPs, returnees, asylum seekers, refugees, and vulnerable host community members. Some banks are re-opening in both KRI and federal Iraq, on reduced operating hours. This is expected to help ease reported problems with cash-based transfers to people in camps, as well as the payment of salaries for national staff. Partners continue to monitor the liquidity of financial institutions. (Source: OCHA) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    04-01-2020, 04:20 PM
    Over the past few years, Iraq's health system has faced many challenges, including internal conflict and the world's biggest mass displacement in 2014-2016, all of which had a tough toll on an already fragile health system. With the detection of COVID-19 in China in December 2019, WHO immediately initiated preparedness efforts, and arranged a series of technical meetings with emergency teams in both federal and regional ministries of health to assess health facilities' resources and preparedness capacities to respond to a potential importation of the disease. The sudden eruption of the virus in neighbouring Islamic Republic of Iran scaled up the risk of the disease spread in Iraq and necessitated faster prevention and infection control measures especially in the holy cities and pilgrimage sites, bordering governorates, and vulnerable communities in internally displaced and refugee camps. Dr Adham Ismail, WHO Representative and Head of Mission in Iraq, said: "WHO is aware of the impact of a pandemic like COVID-19 on Iraq's health sector and recovering services. "We discussed with the health authorities in the Center and Kurdistan Region the means of urgent support to contain the transmission of the disease in the country. Joint work is underway and cooperation is at highest levels." On 2 February, WHO proactively began strengthening national disease surveillance capacities in Iraq and providing case definition and management training, in addition to large-scale risk communications activities. Hundreds of thousands of prevention and transmission control messages were printed and provided to 20 directorates of health in the 18 governorates, including the Kurdistan region governorates of Erbil, Dohuk, and Suleimaniya. Mobile health teams took to main streets, public and religious places, remote cities and hard-to-reach villages in addition to airports, border points, state institutions, and camps hosting refugees and internally displaced people. Maha Salam and Najah Ahmed from Wasit Directorate of Health in Wasit governorate, eastern Iraq, were among the mobile health team distributing WHO health messages to the public as early as 16 February 2020. Early mobilization campaigns to distribute WHO COVID-19 educational materials succeeded in raising public awareness and readying preparedness efforts to protect individual health and that of the community in general. WHO is working with the federal and regional ministries of health to increase and augment case management capacities, as well as detection and surveillance. An urgent consignment of PPEs and laboratory test kits was delivered to ministries of health to enable the timely detection of cases and protect health workers in designated hospitals. As of 30 March, Iraq reported a total of 572 confirmed cases with 42 deaths and 143 recoveries all over the country. The reported figures are still moderate so far, but WHO expects a spike in the coming two weeks due to the scale up in laboratory testing capacity which are going to be of high importance in terms of infection transmission and control," concluded Dr Ismail. (Source: WHO) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    04-01-2020, 04:20 PM
    Newly trained women in Ninewa produce face masks to combat spread of COVID-19 in IraqIn January 2020, UNDP and Kurdistan Human Rights Watch (KHRW) collaborated to train sixty women on sewing and tailoring in Ninewa over the course of a ten-day workshop. At the time, these women could not have foreseen how their newly developed skills would contribute to combatting the deadly coronavirus disease (COVID-19) pandemic currently sweeping the globe. As of 25 March 2020, the World Health Organization has tracked over 400, 000 cases of COVID-19 with over 18, 000 confirmed deaths. The pandemic has affected 197 countries, areas, and territories, including Iraq. When a pharmaceutical company contracted by the Ninewa Department of Health was tasked with producing five million disposable face masks in response to the spread of COVID-19, thirty of the recently trained women were employed to use their skills to produce the masks. After briefings on the health standards and nature of the environment required for mask production, the seamstresses began creating thousands of masks daily in controlled conditions. Working swiftly to produce this vital personal protection equipment despite the curfew in Ninewa Governorate, these skilled women are directly contributing to the mitigation of COVID-19 in Iraq. Aseel, 45, says: "We have produced thousands of pieces and the major portion is delivered to the Ninewa Health Department. Some other organizations are also receiving face masks from us and they distribute those free of cost in communities and camps." Not only has the sewing and tailoring skills training empowered sixty women with new abilities, it has also instilled within them hope for their futures. Sustainable development projects such as these are at the forefront of UNDP Iraq's priorities. Nora, 37, says: "I am working on developing myself in the sewing profession and in the future, I would like to create a workplace for sewing or a small factory." The organization and facilitation of skills development workshops with Kurdistan Human Rights Watch is part of a project spearheaded by UNDP Iraq under the Social Cohesion Programme, which aims to improve the enabling environment for peace and social cohesion in all areas of Iraq. (Source: UNDP) Source: Iraq-BusinessNews.com. Post your commentary below.
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    04-01-2020, 04:20 PM
    From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq has seen a relatively low number of infections compared to its neighbour, Iran, the regional hotspot of the pandemic. Iraq has reported 547 confirmed cases and 42 deaths. But there is growing concern the virus could overwhelm its fragile healthcare system. Al Jazeera's Simona Foltyn reports from Baghdad. Source: Iraq-BusinessNews.com. Post your commentary below.
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    03-30-2020, 11:56 PM
    By John Lee. French container transportation and shipping company CMA CGM, has announced the first closing of its agreement with China Merchants Port (CMP), with the sale of its stakes in eight port terminals to Terminal Link. Among the facilities involved is the Umm Qasr Terminal in Iraq. The Terminal Link joint venture was created in 2013 and is 51% owned by CMA CGM and 49% by CMP. In line with the terms and conditions of the agreement announced on 20th December 2019 this first transaction represents a total all-cash consideration of USD 815 million. It will enable Terminal Link to expand its geographic footprint and global network, thereby enhancing its business development prospects. This initial disposal includes the following terminals: Odessa Terminal (Ukraine) CMA CGM PSA Lion Terminal (CPLT), Singapore Kingston Freeport Terminal (Jamaica) Rotterdam World Gateway (Netherlands) Qingdao Qianwan United Advance Container Terminal (China) Vietnam International Container Terminal, Ho Chi Minh City (Vietnam) Laem Chabang International Terminal (Thailand) Umm Qasr Terminal (Iraq) The sale of the last two terminals covered by the agreement between CMA CGM and CMP should be completed by the end of first-half 2020 for an all-cash consideration over USD 150 million, pending approval by the competent regulatory agencies. With this transaction, CMA CGM is proceeding with the delivery of its USD 2.1 billion liquidity plan announced on 25th November 2019. This plan among others reduces CMA CGM consolidated debt by more than USD 1.3 billion by the end of first-half 2020 and allows to extend certain financing facilities maturing during the year. The CMA CGM Group strengthens its balance sheet amidst the high uncertainty created by the global Covid-19 health crisis. While the crisis has had a limited impact in the first quarter of 2020, the Group expects a decline in volumes, particularly outbound to Europe and the United States. On this occasion, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, states: "This transaction, announced on the 20th of December 2019, is an important step in its 2.1 billion USD liquidity plan and will allow us to strengthen our balance sheet. Amid the high uncertainty created by the COVID-19 health crisis, the closing of this transaction as previously announced demonstrates the resilience of the CMA CGM Group." (Source: CMA CGM) Source: Iraq-BusinessNews.com. Post your commentary below.
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    03-30-2020, 11:56 PM
    By John Lee. The Prime Minister of the Kurdistan Regional Government (KRG), Masrour Barzani, has reportedly called for the public prosecutor to launch an investigation into allegations that Russian state oil company Rosneft paid $250 million to a consultant to secure deals in Iraqi Kurdistan. Earlier this month, Bloomberg claimed that the oil company paid the money an unknown individual in 2017 and 2018 to become the dominant foreign player in the Kurdish oil industry. More here. (Source: Ekurd) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 18 view(s)
  • Investors Iraq News's Avatar
    03-30-2020, 11:56 PM
    By John Lee. European countries including France, Spain and the Netherlands have reportedly announced the temporary withdrawal of troops from the anti-Islamic State (IS) coalition and NATO Training Mission in Iraq. According to Janes 360, the withdrawals follow an announcement by Combined Joint Task Force Operation Inherent Resolve (CJTF-OIR) that it had ceased training Iraqi security forces to reduce the spread of Covid-19. More here. (Source: Janes 360) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 15 view(s)
  • Investors Iraq News's Avatar
    03-30-2020, 11:56 PM
    By Omar al-Jaffal for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Implementation of curfew to fight COVID-19 proves difficult in IraqIraq is working hard to limit the spread of the novel coronavirus, which had infected 382 people in the country as of March 26, killing 36. However, people's refusal to comply with government instructions threatens to exacerbate the health situation. Click here to read the full story. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 21 view(s)
  • BatmaninIraq's Avatar
    03-30-2020, 04:07 AM
    Victory Coalition: the option of printing the currency is destructive to the economy and Parliament must hold the government accountable 3/28/2020 14:32 Victory Coalition - the option of printing the currency is destructive to the economy and Parliament must hold the government accountable The victory coalition confirmed, on Saturday, that the option of printing the currency is devastating to the economy, stressing that Parliament should hold the government accountable. A member of the Victory Ali Al-Sunaid coalition said in a press statement that “the options revealed by the head of the Follow-up Cell in the Prime Minister’s Office yesterday, Friday, are catastrophic options for the state’s financial, economic and social security.” He called on Parliament to “hold the current government accountable for its reckless spending policies and misuse.” Authority to manage public interests. ” He added, “This government inherited a cash surplus from the Abadi government, which fought wars of liberation and unity with the lowest financial budgets. However, with rational management of wealth, it managed to hand over 14 billion dollars to the government of Abdul-Mahdi, in addition to the 2019 budget, but it was wasted, and today we are on the cusp of A stifling financial crisis due to the deterioration of oil prices. ” And Sunaid added that “what the head of the follow-up cell mentioned is dangerous and puts the government in front of legal and political accountability, saying that the state of the state will be affected starting next month (including the salaries of employees), which may prompt Iraq to print the currency as a last option, something that threatens the state of the whole state, and not It must be covered politically and conclusively by the beneficiaries at the expense of the country and the citizen. ” He pointed out that “the coalition of victory has always warned against the policies of waste, corruption and theft of wealth, the last of which was its warning on 10 March last,” calling for “a rapid recovery of the crisis and the development of valid and decisive solutions to ensure the state’s financial and economic security.” alliraqnews.com
    11 replies | 701 view(s)
  • Investors Iraq News's Avatar
    03-30-2020, 01:02 AM
    By John Lee. Iraq's National Investment Commission (NIC), in coordination with the General Committee for Free Zones, has announced the following investment opportunities: The expansional area in Khor Al- Zubair on the land lot No. (13/8 M 44 Hila and 1/3, 2/2, 1/3 M 20 Shaawan) with total area of (20,364,200 M²) that is overlooking khor Al- Zubair stream and adjacent to the sea port and the Fertilizers company with only 55 km paved distance from Safwan border point and full covered by the power grid services. Qaem Free zone , on the land lot No. (133/7533 M 21 Deyom Al- maneai) with total area of (430,000 M²) , the land is adjacent to Qaem Border Point and near to Electricity and water sources and close to the center of Qaem District while only (25) km distant from Ukaz gas field. Lands allocated for free zones in Qaem - Ukashat , on the land lot No. (133/7533 and 11/5 M 21 Deyom Al- maneai) with total area of (6,612,500 M²) , the land is adjacent to Qaem Border Point that is only 20 paved kilo meters distant from its strategic location which is close to the Phosphates factory in Ukashat near Ukaz Gas field. Willing investors are invited to apply through sending their applications to the One Stop Shop dept. of NIC oss@investpromo.gov.iq or by visiting the General Committee for Free Zones in Baghdad - Nidhal Street - White palace next to the Building of the General Committee for customs. (Source: NIC) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    03-30-2020, 01:02 AM
    By Aymen Al-Faisal, for the Al-Bayan Center for Planning and Studies. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The Implications of the Coronavirus on the Overall Situation in IraqWith the spread of the coronavirus globally, many countries around the world face several challenges in the absence of any looming solutions so far. Economies are the most affected by this virus that led to restrict the movement and the freedom of travel between countries, limit the transport of goods by sea and land, and raise spending on precautionary measures to limit the virus spread. Since the discovery of the virus in January, the stock market has not declined only in China, but it has impacted the Asian and the American markets as well. Click here to read the full article. Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    03-30-2020, 01:02 AM
    By Michael Knights, Hamdi Malik and Aymenn Jawad Al-Tamimi, for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Honored, Not Contained: The Future of Iraq's Popular Mobilization ForcesHastily raised when the Islamic State was knocking at the gates of Baghdad, the state-backed Iraqi militia network al-Hashd al-Shabi has swollen into a 160,000-strong armed force with an annual budget exceeding $2 billion. But more than five years after its formation, the Hashd -- also known as the Popular Mobilization Forces -- still lacks defined roles and has largely fallen under the sway of Kataib Hezbollah and other Iranian-backed factions. Now that Iranian Qods Force commander Qasem Soleimani and Kataib Hezbollah leader Abu Mahdi al-Muhandis are no longer on the scene, observers are asking what comes next for the Hashd. In this highly detailed Policy Focus, meant as a primer for Iraqi and international agencies, analysts Michael Knights, Hamdi Malik, and Aymenn Jawad Al-Tamimi lay out the PMF's current status, offering a novel look at its functions, structure, and activities as a military institution. The study identifies achievable security-sector reforms while exploring longer-term options around which consensus must first be built. Although demobilization is not a realistic goal in the near term, Iraq and its partners can take practical steps to honor Hashd units for their sacrifices while also containing them in the interests of national sovereignty and stability. Full 236-page report here. Source: Iraq-BusinessNews.com. Post your commentary below.
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  • BatmaninIraq's Avatar
    03-29-2020, 09:26 PM
    The central bank clarifies about news of the printing of the currency Economie 2020-03-29 | 06:58 27,828 views The Central Bank of Iraq issued, today, Sunday, an explanation regarding what is being circulated by news of the possibility of printing an Iraqi currency to "avoid" economic problems. He said, "An authorized source" in the bank, according to a statement received by Alsumaria News, that "printing Iraqi banknotes is a routine technical procedure practiced by the central bank according to the requirements of cash circulation, and that printing the banknotes is a completely separate process from the cash issuance process."
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  • Investors Iraq News's Avatar
    03-29-2020, 01:04 AM
    By Omar al-Jaffal for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Coronavirus damages Iraqi economy with fall in tourism, oil pricesAs of March 23, Iraq had registered 266 novel coronavirus cases, with 23 deaths. Although Iraq is much better off than many other countries, the fast-growing number of cases - 33 new infections and three more deaths in a 24-hour period - indicate that Iraq soon may face a very difficult situation. Also, measures the government has taken to fight the virus have damaged the economy; these steps have included imposing a curfew, closing roads between cities and canceling all religious tourism. This is not mention the oil price drop. Click here to read the full story. Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    03-29-2020, 01:04 AM
    By Azhar Al-Rubaie, for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Despite Political Turmoil and Coronavirus, Iraq's Protest Movement ContinuesWith neighboring Iran one of the most severely affected areas of coronavirus, Iraqi authorities are also confirming rising infections and deaths despite closing the border between the two states. However, Iraqi protestors maintain that "oppression and fear are more dangerous than coronavirus," and have consistently demonstrated a will to continue what has become known as the October 2019 revolution. Full report here. Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    03-28-2020, 02:12 AM
    US Treasury Designates Vast Network of IRGC-QF Officials and Front Companies in Iraq, IranThe U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has designated 20 Iran- and Iraq-based front companies, senior officials, and business associates that provide support to or act for or on behalf of the Islamic Revolutionary Guards Corps-Qods Force (IRGC-QF) in addition to transferring lethal aid to Iranian-backed terrorist militias in Iraq such as Kata'ib Hizballah (KH) and Asa'ib Ahl al-Haq (AAH). Among other malign activities, these entities and individuals perpetrated or supported: smuggling through the Iraqi port of Umm Qasr; money laundering through Iraqi front companies; selling Iranian oil to the Syrian regime; smuggling weapons to Iraq and Yemen; promoting propaganda efforts in Iraq on behalf of the IRGC-QF and its terrorist militias; intimidating Iraqi politicians; and using funds and public donations made to an ostensibly religious institution to supplement IRGC-QF budgets. The terrorist militias supported by the Iranian regime such as KH and AAH have continued to engage in attacks on U.S. and Coalition forces in Iraq. "Iran employs a web of front companies to fund terrorist groups across the region, siphoning resources away from the Iranian people and prioritizing terrorist proxies over the basic needs of its people," said Treasury Secretary Steven T. Mnuchin. "The United States maintains broad exceptions and authorizations for humanitarian aid including agriculture commodities, food, medicine, and medical devices to help the people of Iran combat the coronavirus." Today's designations were taken pursuant to Executive Order (E.O.) 13224, as amended, which targets terrorists and those providing support to or acting for or on behalf of designated terrorists or supporting acts of terrorism. RECONSTRUCTION ORGANIZATION OF THE HOLY SHRINES IN IRAQ The Reconstruction Organization of the Holy Shrines in Iraq (ROHSI) is an IRGC-QF-controlled organization based in Iran and Iraq whose leadership was appointed by the late IRGC-QF Commander Qassem Soleimani. Though ostensibly a religious institution, ROHSI has transferred millions of dollars to the Iraq-based Bahjat al Kawthar Company for Construction and Trading Ltd, also known as Kosar Company, another Iraq-based entity under the IRGC-QF's control. Kosar Company has served as a base for Iranian intelligence activities in Iraq, including the shipment of weapons and ammunition to Iranian-backed terrorist militia groups. Additionally, Kosar Company has received millions of dollars in transfers from the Central Bank of Iran, which was designated pursuant to E.O. 13224 in September 2019 for its financial support of the IRGC-QF and Lebanese Hizballah. Both the IRGC-QF and Hizballah have been designated by the U.S. Department of State as Foreign Terrorist Organizations under section 219 of the Immigration and Nationality Act. In addition, IRGC-QF officials have used ROHSI's funds to supplement IRGC-QF budgets, likely embezzling public donations intended for the construction and maintenance of Shiite shrines in Iraq. ROHSI and Kosar Company are being designated pursuant to E.O. 13224 for being owned, controlled, or directed by, directly or indirectly, the IRGC-QF. OFAC is also designating Mohammad Jalal Maab, the current head of ROHSI, who was personally appointed to the position by former IRGC-QF Commander Soleimani. Jalal Maab succeeded Hassan Pelarak, an IRGC-QF officer and co-owner of Kosar Company, who was selected by Soleimani to serve as his special assistant on an IRGC-QF-led committee focused on sanctions evasions activity. Pelarak also worked with IRGC-QF officials to transfer missiles, explosives, and small arms to Yemen, intensifying the Yemeni conflict and exacerbating one of the world's worst humanitarian catastrophes. Mohammad Jalal Maab is being designated pursuant to E.O. 13224 for being a leader or official of ROHSI. Hassan Pelarak is being designated pursuant to E.O. 13224 for having acted or purported to act for or on behalf of, directly or indirectly, the IRGC-QF. Alireza Fadakar, another co-owner of Kosar Company, has worked in Iraq on behalf of the IRGC-QF for several years and is an IRGC-QF commander in Najaf, Iraq. Muhammad al-Ghorayfi is an IRGC-QF affiliate and employee of Kosar Company who provides administrative support to Fadakar and has facilitated the travel of IRGC-QF officials between Iraq and Iran. Alireza Fadakar is being designated pursuant to E.O. 13224 for having acted or purported to act for or on behalf of, directly or indirectly, the IRGC-QF. Muhammad al-Ghorayfi is being designated pursuant to E.O. 13224 for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Alireza Fadakar. Masoud Shoustaripousti, another co-owner of Kosar Company, has worked in Iraq on behalf of the IRGC-QF for several years and has laundered money for the group. Shoushtaripousti worked with Mashallah Bakhtiari, who used Kosar Company to launder money and worked with officials at the Baghdad-based branch of Iran's Bank Melli to deposit funds for the IRGC-QF in Iraq. OFAC designated Bank Melli in November 2018, pursuant to E.O. 13224, for acting as a conduit for payments to the IRGC-QF which also used Bank Melli to dispense funds to Iranian-backed terrorist groups in Iraq. Masoud Shoustaripousti is being designated pursuant to E.O. 13224 for having acted or purported to act for or on behalf of, directly or indirectly, the IRGC-QF. Mashallah Bakhtiari is being designated pursuant to E.O. 13224 for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, the IRGC-QF. AL KHAMAEL MARITIME SERVICES Separately, OFAC is taking action against Al Khamael Maritime Services (AKMS), an Iraq-based company operating out of Umm Qasr port in which the IRGC-QF has a financial interest. The IRGC-QF leveraged Shiite militia group contacts to evade Iraqi government inspection protocol at Umm Qasr port and has charged foreign companies and vessels fees for services at its terminal at the port. AKMS also worked to sell Iranian-origin petroleum products in contravention of U.S. sanctions against the Iranian regime. AKMS is being designated pursuant to E.O. 13224 for being owned, controlled, or directed by, directly or indirectly, the IRGC-QF. OFAC is also designating Hasan Saburinezhad, also known as Engineer Morteza, who is involved in the finances of AKMS. As a representative of AKMS, Saburinezhad worked to facilitate the entry of Iranian shipments into Iraqi ports for the benefit of the IRGC-QF. Saburinezhad is also involved in IRGC-QF financial and economic activities between Iran, Iraq, and Syria, including smuggling activities along the Syria/Iraq border. Saburinezhad also runs smuggling routes to help Iraqi terrorist group KH and the IRGC-QF smuggle goods into Iraq from Iran, and has assisted KH in funding the acquisition and transfer of goods out of Iran. Saburinezhad is the Managing Director and a member of the board of directors of Mada'in Novin Traders (MNT), an Iran- and Iraq-based company associated with multiple IRGC-QF officials, including Vali Gholizadeh, who has worked with Saburinezhad for the benefit of both AKMS and MNT. Hasan Saburinezhad is being designated pursuant to E.O. 13224 for having acted or purported to act for or on behalf of, directly or indirectly, the IRGC-QF. Mada'in Novin Traders is being designated pursuant to E.O. 13224 for being owned, controlled, or directed by, or to have acted or purported to act for or on behalf of, directly or indirectly, Saburinezhad. Gholizadeh is being designated pursuant to E.O. 13224 for being a leader or official of Mada'in Novin Traders. OFAC is also designating Mohammed Saeed Odhafa Al Behadili, the Managing Director of AKMS, and Ali Hussein Falih Al-Mansoori, also known as Seyyed Rezvan, the company's deputy managing director and head of its board of directors. Additionally, as of 2018, Al Behadili was focused on facilitating shipments and business transactions to circumvent U.S. sanctions against the Iranian regime. Al-Mansoori has worked with IRGC-QF officials on business issues related to AKMS. Mohammed Saeed Odhafa Al Behadili is being designated pursuant to E.O. 13224 for having acted or purported to act for or on behalf of, directly or indirectly, AKMS. Ali Hussein Falih Al-Mansoori is being designated pursuant to E.O. 13224 for being a leader or official of AKMS. Sayyed Reza Musavifar, who is responsible for the accounts and finances of AKMS, has worked with the IRGC-QF to transfer money to terrorist militias, including KH and Lebanese Hizballah. In 2014, Musavifar transferred the equivalent of millions of dollars of foreign currency to senior IRGC-QF officials. Musavifar is a part owner of Middle East Saman Chemical Company, an Iran-based company that maintained an account at Rashed Exchange, an Iran-based exchange house used to convert currency for the IRGC-QF that was designated in May 2018 for being owned or controlled by Mohammadreza Khedmati, an individual designated for support to the IRGC-QF. Sayyed Reza Musavifar is being designated pursuant to E.O. 13224 for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, the IRGC-QF. Middle East Saman Chemical Company is being designated pursuant to E.O. 13224 for being owned, controlled, or directed by, or to have acted or purported to act for or on behalf of, directly or indirectly, Sayyed Reza Musavifar. Additionally, Ali Farhan Asadi is being designated pursuant to E.O. 13224 for having acted or purported to act for or on behalf of, directly or indirectly, AKMS. SAYYED YASER MUSAVIR AND MEHDI GHASEMZADEH IRGC-QF official Sayyed Yaser Musavir has been deployed to Iraq extensively since early 2014 in support of the IRGC-QF, and he has coordinated operations between the group and Iraqi terrorist militia group officials. In 2019, Musavir coordinated with IRGC-QF officials to sell Iranian petroleum products to Syria. In 2018, Musavir coordinated propaganda efforts with AAH on behalf of senior IRGC-QF officials. AAH was designated in January 2020 by the U.S. Department of State as a Foreign Terrorist Organization under section 219 of the Immigration and Nationality Act and as Specially Designated Global Terrorist (SDGT) pursuant to E.O. 13224. Sayyed Yaser Musavir is being designated pursuant to E.O. 13224 for having acted or purported to act for or on behalf of, directly or indirectly, the IRGC-QF. Mehdi Ghasemzadeh is an IRGC-QF official and is being designated pursuant to E.O. 13224 for having acted or purported to act for or on behalf of, directly or indirectly, the IRGC-QF. SHAYKH 'ADNAN AL-HAMIDAWI Shaykh 'Adnan Al-Hamidawi is a Special Operations Commander for KH who in 2019 planned to intimidate Iraqi politicians who did not support the removal of U.S. forces from Iraq. KH, an Iranian-backed terrorist militia group that has been a U.S. Department of State-designated Foreign Terrorist Organization and SDGT since 2009, receives lethal support from the IRGC-QF, and has been responsible for numerous terrorist acts against Iraqi, U.S., and Coalition forces in Iraq for over a decade, including bombings, rocket attacks, and sniper operations. Shaykh 'Adnan Al-Hamidawi is being designated pursuant to E.O. 13224 for having acted or purported to act for or on behalf of, directly or indirectly, KH. SANCTIONS IMPLICATIONS As a result of today's action, all property and interests in property of these persons that are in or come within the United States or in the possession or control of U.S. persons must be blocked and reported to OFAC. OFAC's regulations generally prohibit all dealings by U.S. persons or within (or transiting) the United States that involve and property or interests in property of blocked persons. In addition, persons that engage in certain transactions with the persons designated today may themselves be exposed to sanctions. Furthermore, any foreign financial institution that knowingly conducted or facilitated any significant transaction on behalf of individuals and entities designated today could be subject to U.S. correspondent account or payable-through account sanctions. Identifying information on the entities designated. (Source: OFAC) Source: Iraq-BusinessNews.com. Post your commentary below.
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