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Iraq Business News

On Monday, Iraqi Ministry of Education said that Iraqi officials have opened 44 primary and secondary schools in various areas of Iraq for children displaced due to "Islamic State of Iraq and the Levant" (ISIL) violence.
The Iraqi Ministry of Defense assured the entrance of the Russian helicopter (Night Hunter) to the service to support terrorism fighting and Iraqi infantry forces.
The Premier, Haider al-Abadi, met with a delegation from Nineveh province.
BLOM, one of the largest banks in Lebanon, is eying the Gulf States and Iraq, but it is also cementing its presence in some of the other states in the region, the chairman and general manager of the bank said Tuesday.
Belarus is willing to dramatically expand cooperation with Iraq, Chairman of the House of Representatives of the National Assembly of Belarus Vladimir Andreichenko said as he met with Ambassador Extraordinary and Plenipotentiary of the Republic of Iraq to the Republic of Belarus Haidar Hadi on 29 October.
Human Rights Minister Mohammed Mehdi al-Bayati called for endorsing the federal budget and avoiding political affairs on this matter.
Parliament will host Minister of Oil, Adil Abdul Mahdi, within the next few days.
Deputy Premier Baha' al-Araji stated that the federal government will give more powers to provinces in the coming stages.
On Monday, the International Monetary Fund said that Iraq's economy is likely to shrink 2.7 percent this year, the first contraction since the U.S.-led invasion in 2003, after Islamic State militants have occupied swathes of the major oil exporter.
On Monday, the latest regional outlook for the Middle East and North Africa reported that the International Monetary Fund forecasts gross domestic product in Iraq to contract by a massive 2.7 per cent this year, down from 4.2 per cent growth last year.
The Ministerial Committee tasked to re-draft the Budget Law held a meeting headed by the Minister of Finance, Hoshyar Zebari, to complete its discussions over the priorities of the Budget of 2014.
The Oil Minister, Adel Abdul-Mahdi, discussed with the Italian Ambassador to Iraq the mutual relations and the means of promoting them.
Global equity markets slipped on Monday, hit by weak German business sentiment and another decline in oil, while Brazil slumped after incumbent Dilma Rousseff narrowly won a second term over an opponent seen as more pro-business.
The refinery, the largest in the country, is surrounded by ISIS fighters and their supporters. It's been shut down since mid-June, but the government is still clinging to control. A force of several hundred Iraqi troops and government supporters inside the refinery has fought off numerous attacks by insurgents over the past four months.
On Wednesday, a senior Iranian official said that Iran is fully ready to construct several modern department stores in Iraq.
Iraq's oil exports from its southern terminals are holding close to a record high in October and Kurdish shipments are climbing, a further sign that fighting has not derailed an expansion of supplies from OPEC's second-largest producer.
An Iraq desalination project to supply 400,000 people in the southern city of Basra with drinking water has been enlarged with added works for Veolia Environment (VIE), Hitachi Ltd. and Egypt engineering firm ArabCo.
Iraqi students returned to school on Wednesday amid tightened security as the academic year began a month late because thousands of people displaced by last summer's onslaught by the Islamic State group had taken shelter in school buildings.
Iraq’s oil ministry stated that Iraq’s crude oil export rose in volume but dropped in earnings in September due to lower prices on the international market.
Oil ministry spokesperson of Iraq, Assem Jihad, said that Iraq's oil ministry will hold a bidding round to develop its southern Nassiriya oilfield and construct an associated refinery before the end of 2014.
Today, the United Nations launched a USD 2.2 billion appeal to assist 5.2 million people who need protection and assistance in conflict-torn Iraq.
Classes started a month behind schedule Wednesday in many areas of Iraq because some schools are crowded with families seeking refuge from violence elsewhere in the country.
When the United Nations promoted World Humanitarian Day in 2012, Beyonce wrote lyrics, “I was here”, before the UN General Assembly in New York. When the song reached Baghdad, it sparked a campaign of the same game.
The security forces liberated some areas of central Ramadi city in Anbar.
Foreign Minister, Ibrahim al-Jaafary met with Turkish Ambassador, Farouk Qaemakji to discuss relationships between the two countries and prospects of developing them to serve the interest of countries as well as the security and political developments taking place in the Iraqi arena.
On Monday, Iranian Foreign Ministry spokesman Marzieh Afkham said that Iran and Iraq seek restoration of stability and tranquility by regional cooperation.
On Monday, Iraqi cabinet has approved $278.5 million drilling deal with U.S. oil service company Halliburton for the southern West Qurna- 1 oilfield, as revealed by a government statement.
GPK has declared the Shewashan light oil discovery commercial and is preparing the Field Development Plan (FDP) for submission to the MNR in accordance with the Khalakan PSC.
Iraqi Transport Minister Baqir al-Zubaidi discussed with the Japanese Charge d'Affairs the participation of Japanese companies in Greater Fao Terminal, railway projects and rehabilitation of Baghdad airport.
Karbala Investment Commission charged some ministries and governmental departments of obstructing the process of investment in the province, including not handing the lands to the investors.
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