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Iraq Business News

Private banking sector of Iraq is having trouble meeting customers’ demands because of liquidity issues, leading to unrest and worry.
On Thursday, U.S. Defense Secretary Ash Carter arrived unannounced in Baghdad to assess the government's progress in healing the country's sectarian divisions and hear the latest on support for the Iraqi army's coming attempt to recapture the key city of Ramadi from Islamic State in Iraq and the Levant (ISIL).
On Wednesday, the US-led coalition and the Iraqi air force have launched 32 airstrikes in Iraq, the Cell of the Military Media announced in a statement.
Putting U.S. air controllers with Iraqi forces closer to combat areas so they can identify and direct bombing would improve air strikes on Islamic State rebel targets and should be "seriously considered," a top U.S. general told lawmakers on Tuesday.
The Ministry of Planning announced in Wednesday, rising inflation for March index with percentage (0.4%), an annually rise by (2.2%) while confirming that three Iraqi provinces were not included because of the security situation witnessed in those provinces.
The Chinese Ministry of Foreign Affairs condemned the ISIL attack on Khan Bani Saad district, southwest of Baqubah city when the car bomb targeted the market on Friday
Workers from Iraq near a pipeline, as it ejects oil at Al Tuba oil field in Basra, southeast of Baghdad. There's a bigger threat to oil prices than Iran.
Anton Oilfield Services Group, a leading independent oilfield services provider in China, is pleased to announce that the Group has received a notification from an international oil company customer operating oilfield projects in south Iraq that the Ministry of Oil of Iraq has lately cleared the general contract awarded to Antonoil for the provision of oilfield workover and completion services.
The toll for a massive suicide vehicle bomb attack carried out by the Islamic State group north of Baghdad rose to 90 dead and 17 missing today. It also blames them for the November shooting and killing of eight worshippers in the eastern Saudi Arabian village of al-Ahsa.
US army MQ-1C Gray Eagle, known as a drone seemed to lose power and fall in desert of Al-Samawa province, southwest of Baghdad about 280 kilometer, a security source said on Tuesday.
Oil prices steadied on Tuesday, helped by a dip in the dollar, but were on track for their biggest monthly drop since March in the face of a global supply glut.
The Iraqi Cabinet approved a resolution over reducing the salaries of the key officials, Ministers and MPs.
Defense ministry of Iraq stated that four US F-16 warplanes landed in Iraq, and this is the first batch of a much-delayed delivery aimed at boosting the ailing Iraqi military's capacity.
A long awaited, large scale military operation has been started by Iraqi government to dislodge the IS militants from Iraq's western Anbar province.
Chairman of the U.S. Joint Chiefs of Staff, army Gen. Martin Dempsey, has
On Thursday, oil prices rose after a power outage closed the UK's largest oilfield, restricting flows to the North Sea's main oil stream that underpins the global benchmark Brent crude. Oil prices were also supported by data on Wednesday that showed a fall in U.S. crude inventories.
The Spanish Ministry of Foreign Affairs condemned the ISIL attack on Bani Saad district, southwest of Baqubah city when the car bomb targeted the market on Friday evening, killing more than 100 citizens and wounding 146 others.
Through a statement, Iraqi Interior Minister Muhammud Saleem al-Ghaban announced that Iraqi security forces have arrested some terrorists involved in Diyala’s explosion.
On last Friday, Brent crude price shows rise in price, underpinned by a weaker dollar and a power outage at Britain's largest oilfield, though a supply glut kept prices pinned near $57 per barrel.
Central bank of Iraq has announced that the selling more than 76 million dollars in its daily auction on Sunday. Rate exchange of 1166 IQD is 1 dollar.
The Kurdish administration of Iraq has recently made a decision on independent sale of oil. This can be seen as another attempt of the administrator to gain freedom for the region of Kurdistan.
On Sunday, Rafidain Bank expressed its keenness to deliver support in the field of commercial banking and investment funds and provide funding for the various sectors in accordance with the development plans.
Haider al-Abadi, Prime Minister of Iraq, said that administrative and financial corruption is equivalent to terrorism, as both harm the country immensely.
On the front line of the war with ISIS, Kurdistan has broken with Iraq’s government and begun to sell oil on its own account. The decision by the Kurdistan Regional Government (KRG), taken in recent weeks, marks the latest escalation in a long-running feud with Baghdad over oil receipts.
Iraq's currency, the dinar, has depreciated over 15 percent since the beginning of this year, increasing the price of commodities in the country. Analysts say the country's currency depreciation is partly caused by the government's war against Islamic State (IS) militants, who have taken control over key areas in Iraq, including the oil-producing city of Kirkuk and the Fallujah dam, which has a direct impact on the country's pillar industries - oil and agriculture.
On Wednesday, Iraq celebrated the return of hundreds of historical artifacts, from an ancient Assyrian statue to a 20th century presidential tea set, which were looted, lost or loaned abroad over recent decades.
On Wednesday, an Iraqi court has sentenced 24 people to death over charges of killing about 1,700 soldiers when the Islamic State (IS) militants seized the city of Tikrit, the capital of Salahudin province, in June 2014, a judicial spokesman said.
Iraq’s self-ruling Kurds are threatening to bypass the country’s central government and sell oil produced in the neighboring Kirkuk region in a dispute over revenue from crude sales by OPEC’s second-largest producer.
As per a British Bank spokesperson, Andreas Meletiou has been appointed as chief executive officer of Standard Chartered Plc of its Iraq business with immediate effect.
Ministry of Finance of Iraq stated that the World Bank had agreed to lend $1.7 billion to solve its economic crisis and budget deficit. The announcement comes after a meeting between Iraq’s Finance Minister Hoshyar Zebari and Robert Bou Jaoude, World Bank Special Representative for Iraq on Wednesday in the Iraqi capital Baghdad.
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