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Iraq Business News

Iraqi forces said on Sunday they retook two towns north of Baghdad from Islamic State fighters, driving them from strongholds they had held for months and clearing a main road from the capital to Iran.
The Governor of Basra, Majid al-Nasrawi, denied suffering an ailment as it what some media outlets reported.
U.S. Vice President Joe Biden welcomed an agreement between Iraq's central government and its northern Kurdistan region over the management of oil exports, a step forward in a feud that has threatened the unity of Iraq.
The USA Rice Federation has learned that after being passed over in the previous Iraqi rice tender, U.S. rice has been awarded 120,000 MT of long grain in the current tender.
On Friday, Kurdistan Region President Massoud Barzani said that Baghdad would send Erbil $500 million as part of an agreement reached between both sides last week on solving their budget disputes.
The President of Kurdistan Region, Masoud Barzani, assured pumping the oil of Kurdistan Region to Turkey for the benefit of the Iraqi government.
The Minister of Oil Adil Abdul Mahdi assured "the growth of Iraq economy depends on rehabilitating the other sectors most notably the industrial and agricultural sectors.
The President, Foud Masoum, hosted the Turkish Prime Minister Ahmed Davutoglu and the accompanying delegation at Salam Palace in Baghdad on Thursday.
The Turkish Prime Minister, Ahmet Davutoglu, arrived in Erbil, capital of Kurdistan Region.
The President, Foud Masoum, hosted the Turkish Prime Minister Ahmed Davutoglu and the accompanying delegation at Salam Palace in Baghdad.
According to the reports, fetched from the officials, a suicide bomber detonated an explosives-rigged vehicle in the heart of the usually secure Iraqi Kurdish regional capital Arbil.
The President, Foud Masoum, hosted the Turkish Prime Minister Ahmed Davutoglu and the accompanying delegation at Salam Palace in Baghdad.
Iraqi Oil Minister Adil Abdul Mahdi said, "The Iraqi oil extracted from Kirkuk oil fields is now pumped through the oil pipes and infrastructure built by the Kurdistan Regional Government through the Turkish territories after concluding the an agreement between Baghdad Government and the KRG last week to end a long dispute over oil revenues."
On Thursday, Pentagon stated that some of the 1,500 new U.S. troops authorized to advice and train Iraqi forces in their fight against Islamic State militants will deploy to the country in the next few weeks without waiting for Congress to fund the mission.
Iraq’s biggest oil refinery at Baiji is set to restart processing in about three months after government troops forced Islamic State armed militants away from the facility.
The government of Iraq and the semi-autonomous Kurdistan region have begun implementing a deal under which Baghdad resumes funding Kurdish civil servant salaries in return for a share of Kurdish oil exports, Iraq's finance minister said on Wednesday.
Belgian Foreign Minister Didier Reynders on Wednesday urged for stronger trade and political relations between Europe and the Arab World.
Islamic banking operations account for 1.5% of total assets of Iraqi banks and could rise to 6% in the next three years if stability returns to the country and a legal framework is put in place to regulate the industry, experts said.
With the Islamic State on their doorstep, Kurdish leaders have scaled back their once grandiose ambitions to focus on ensuring the survival of their enclave.
Since the 1980s, Turkey has positioned itself as a major manufacturing center with a focus on exports. It's Europe's largest commercial vehicle producer, the 16th-largest manufacturer of motor vehicles, and Europe's largest manufacturer of home appliances and televisions.
The telecoms infrastructure in Iraq is representative of an embattled country that has endured decades of conflict.
Given the many official and unofficial holidays in Iraq, the country seems to be almost on permanent vacation throughout the year. Schools find themselves unable to complete their curricula, while economists warn against a recession due to the excessive number of holidays. Iraq recognizes 150 official vacation days, which is equivalent to one-third of the year, according to a law that was passed by the Iraqi parliament in April 2013.
A formal agreement was made Oct. 21 between the UofA and the University of Karbala in Iraq that would further each institution’s academic objectives by exchanging research, educational materials and developing study programs for students in Iraq and the U.S.
Iraq's current southern oil output is averaging about 3 million barrels per day (bpd) and average export levels stand at about 2.5 million bpd, the country's oil minister said on Saturday.
According to a reliable source, it has been unveiled that the Iraqi Parliament will host the Oil Minister, Adil Abdul Mahdi, during its session on Monday.
Goran Mohammed had just completed his second year of university in the northern Iraqi city of Irbil when he dropped out to help his father run the family grocery store. When that still didn't earn the family enough money, the 19 year old was forced to take a second job as a taxi driver.
The Ministry of Interior announced the inauguration of a police station in Beiji district in Salah il-Din province.
The G20 summit in Australia has entered its second and final day with the focus on economic growth. World leaders are due to declare a commitment to growing their economies by 2% more than expected by 2018.
Burgan Bank Group, the regional commercial bank and the second largest commercial bank by Assets in Kuwait where it is headquartered, announced that the appointment of Mr. Faisal Al Haimus, as the Chief Executive officer to Bank of Baghdad - a Burgan Bank Group’s Subsidiary in Iraq is a step among many that have been undertaken to build Iraq’s best in class commercial bank that is present in the 18 governorates in Iraq.
Iraq's current southern oil output is averaging about 3 million barrels per day (bpd) and average export levels stand at about 2.5 million bpd, the country's oil minister said Saturday.
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