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Iraq Business News

Global oil glut has resulted into geopolitical instability and the economic crash in Iraq.
Iraq is in news these days due to government and allied militia forces fight to reclaim territory from the Islamic Group militants.
Shabak community has been considered as one of the ethnic minorities in Iraq.
After a lot of turmoil, Iraq’s parliament has finally approved five new ministers nominated by Prime Minister Haidar al-Abadi.
Iraq Wallet’s ‘Pay with ZainCash’ has been anticipated to have a major impact on expanding e-commerce nationwide supporting the creation of an enabling environment for entrepreneurs to operate, while stimulating Iraq’s digital economy and kick-starting the adoption of e-commerce.
World has experienced the rise of ISIS, which led Iraq is deep economic worries.
Oil ministry of Iraq stated that a new natural gas unit has been started to be operated by Iraq in the southeastern region as part of a plan to use gas that was previously flared to generate electricity.
Jabbar al-Luaibi, the former head of Iraq’s biggest crude producer who was appointed oil minister, stated that he observes ways to resolve the energy dispute with the self-governed Kurds in the north of OPEC’s No. 2 producer.
In early August, oil export flow from Iraq’s Kurdistan region fell sharply due to pipeline outages. Due to recent attacks on the oilfield, production has also been declined.
According to health ministry of Iraq’s spokesperson, a fire that killed 13 children in an Iraqi maternity ward was apparently started intentionally. Ahmed al-Rudeini had previously said that fire at Yarmuk Hospital, one of the main such facilities in Baghdad, had been started by an electrical fault.
Iraq’s parliament has approved five new ministers after months of delay and repeated setbacks to Prime Minister Haider al-Abadi's efforts to replace the cabinet.
Reconstruction Fund for Areas Affected by Terrorism (REFAATO) has announced initiating an agreement for rehabilitating al-Muthana Bridge in northern Baghdad. The agreement has been signed with Ministry of Housing, and cost of the agreement is around five billion dinars.
Middle East region is now facing the worst heat waves ever. Experts have warned that high temperature can lead to such extent that human survival would become impossible. They have also advised to control greenhouse gas emission.
According to a report, Iraq has signed an agreement with the United Nations Development Program (UNDP) to upgrade the water network for Sulaimaniyah City
A new batch of F-16 fighting Falcon aircraft has been received by Iraqi Air Force from the US. This fresh arrival of new aircraft will help the country to fight against the violent militant group ISIS.
In southern Iraqi oilfields, clashes between protestors and security forces have erupted. According to local media, on last Sunday clashes began after a group of protesters attempted to block a road leading to oil fields in the district of Zubair, located near the country’s main port city of Basra.
Iraq makes agreement with Shell, Lukoil and BP to restart stalled investment in oil fields the firms are developing. Projects were in halt for more than a year, but with the fresh agreements the halted projects are expected to be started.
Oman Air has announced its global expansion with commencing flights to Najaf, Iraq, from the month of September this year. This is Oman Air’s first destination in Iraq, and the carrier will operate the flights aboard Boeing 737-800 aircraft.
A United Nations agency said on Thursday it would help Iraq to tackle endemic graft that is eroding its economy and institutions as Baghdad struggles to defeat Islamic State militants.
Minister of Education of Iraq, Mohammad Iqbal announced introducing a new project for changing educational framework of Iraq. The project proposes the conversion of three stages of education to four years for each phase dispersed among elementary, middle and junior high stages.
Abdel Hussein Abtan, Iraqi Minister of Transportation, stated that Iraqi Airways will restart its flight services to Europe from upcoming Sunday.
The United Nations Development Program (UNDP) in Iraq has officially endorsed a project that has been aimed to end water problem of the country.
Iraqi forces prepares for fresh attacks again IS to regain its territory from the militants. A few residents inside the city of Mosul, captured by IS militants. They have expressed their relief after escape.
On last Wednesday, a well that pumps oil from the Kirkuk fields in northern Iraq had been blown up, as reported by the North Oil Company.
Corruption case against Parliament Speaker Salim al-Jabouri by Defense Minister Khaled al-Obeidi has been turned downed down by the court, citing lack of evidence.
Officials from the state-run North Oil Company say a well controlled by Kurdish peshmerga fighters in Kirkuk has exploded.
Gazprom Neft, a Russian oil and gas company, has commissioned its 10th production well (P-07) at the Badra oil field of Iraq.
On last Monday, Iraq’s Ministry of Oil has announced that the country has exported around 95 million barrels of oil during June from the central and southern oil fields.
The Iraqi military will use a medieval tactic to keep control of Fallujah after recapturing it from the Islamic State group last month: It is digging a trench around the city.
On Friday, last week, oil price settled at lower side, losing 4% on the week.
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