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Iraq Business News

Iran has signed a contract to launch a trade center in Iraqi northern city of Erbil with the aim of facilitating trade with Iraq's semi-autonomous Kurdistan region.
BP has cut its development budget for Iraq's giant Rumaila oilfield by $1 billion this year after the government warned a slump in crude prices and its battle against Islamic State was making it difficult to pay oil companies.
The Iraqi Air Force destroyed the shelters of the ISIL terrorists in Fallujah.
Jeff Rathke, US Director, Press Office within the US Secretary of State stated that the participation of the Popular Mobilization Units in liberating Anbar province in very important.
The Iraqi Cabinet called in its session today the international community and the neighbouring states
Central Bank of Iraq has reportedly allocated $5.1 billion in loans for governmental and private banks throughout the crisis-hit country in a bid to keep a handle on inflation.
Islamic State of Iraq and the Levant (ISIL) militants have reportedly taken control of the western Iraqi city of Ramadi over the weekend after killing dozens of Iraqi Security Forces.
Congress is rewriting a sustenance to directly arm Iraqi Kurdish and Sunni militias after a recoil from Baghdad and threats to US troops.
The Iraqi Gold climbed up to IQD 202, 911, 25 per-Mithkal on Thursday morning.
The Iraqi Ministry of Defense assured the death of the second man of the ISIL group, Abu Ala’a Aferi,
Ahmed Karim, the speaker of Salah-il-Din Provincial Council, denied on Friday that the ISIL terrorists controlled 80% percentage of Baiji refinery.
Ammar al-Hakim, the head of the Supreme Iraqi Islamic Council, assured his rejection to dealing with Iraq as constituents.
The videos of Islamic State militants destroying ancient artifacts in Iraq's museums and blowing up 3,000-year-old temples are chilling enough, but one of Iraq's top antiquities officials is now saying the destruction is a cover for an even more sinister activity the systematic looting of Iraq's cultural heritage.
On Tuesday, the New Zealand Defense Force stated that its troops have set up base in Iraq.
Ahmed al-Jabouri had hoped the worst was over after Iraqi forces drove Islamic State from his town near Baghdad. Instead, he returned six weeks ago to find bombed out homes, looted shops and a growing list of grievances.
Iraq’s economy minister stated that economic growth and job creation crucial to maintaining stability within the nation. The UAE will invest in post-war Iraq and Yemen in an effort to stabilise the two war-torn countries through economic growth and job creation, Sultan Bin Saeed Al Mansouri, UAE Minister of Economy.
In an interview with Al-Monitor, Transport Minister Baqir Jabr al-Zubeidi (also known as Bayan Jabr Solagh) said that the best way to overcome Iraq's exceptional circumstances is to develop plans that are both realistic as well as sound. While conditions pose significant economic challenges and prohibit certain development projects, Zubeidi asserted that growth should not come to a halt, even amid the toughest challenges. Rather, exceptional conditions impose different approaches to planning and action. Zub
The ruins of the city of Babil, some 56 miles south of Baghdad, flourished as the ancient Mesopotamian capital of Babylon, founded in the 19th century BC. Since that time, the city has suffered from neglect, and poor treatment of its buildings and the very ground it was built on. There is now talk among Iraqi cultural officials of reviving tourism in the city.
President, Fuad Masoum, will visit Iran today Tuesday night to meet the Iranian officials.
A security source reported on Tuesday that the security forces started a campaign to liberate Baiji district from the ISIL control.
The Iraqi Gold on Tuesday got dropped to IQD 193, 987per-Mithkal.
The joint committee between the Swedish Ministry of Defense and the Parliament suggested sending military troops to Iraq.
Economist Adnan Janabi, the former head of the Iraqi parliament's oil and gas committee, has criticized Baghdad's oil policies and laid the blame on ex-prime minister Nouri al-Maliki.
On Friday, it is reported that the Iraqi Air Force destroyed ISIL shelters at Hamrin Mountains within Salah-il-Din province.
Ahmed Karim, the speaker of Salah-il-Din Provincial Council, denied on Friday that the ISIL terrorists controlled 80% percentage of Baiji refinery.
On May 7th, American forced reportedly trying to relieve pressure on Iraqi forces at the geographically important Baiji oil refinery, hitting militants with 26 air strikes since Tuesday and helping drop 18 pallets of supplies.
Ammar al-Hakim, the head of the Supreme Iraqi Islamic Council, assured his rejection to dealing with Iraq as constituents.
Neither Iran nor Saudi Arabia, the two rival parties to the proxy and direct wars in the Middle East, was satisfied with the signals sent by Iraqi Prime Minister Haider al-Abadi during his visit to Washington in April.
In weekend trading, oil prices have fallen after Iraq's Ministry of Petroleum announced its crude oil exports have hit a record in April. During weekend trading, June Brent crude fell 32 cents to settle at USD 66.46 a barrel. Brent price had experienced a 21-percent jump in April.
Iraq is planning for obtaining a sovereign credit rating and also planning to approach credit agencies, as it is getting prepared for a $5 billion bond issue, which will be required to cover a budget deficit caused by low oil prices.
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