Quantcast
Saturday , September 23 2017
Breaking News

Iraq

Iraqi farmers fight against imported goods, corruption

IRAQW

  BAGHDAD: The Tureibil crossing, or more commonly known as the Karameh border crossing, between Jordan and Iraq reopened in early September in tandem with the opening of another border crossing with Saudi Arabia. This means that more foreign goods are likely to flow into the Iraqi market, which already lacks national products, especially food and agricultural goods. The prospects ... Read More »

ADES profit falls as IPO costs offset revenue rise

IRAQ

  BAGHDAD: ADES International Holding Ltd. (ADES.LN) on Tuesday reported an 11% fall in pretax profit for the first half of 2017, despite increased revenue due to costs associated with its initial public offering. The Middle East and Africa-based oil and gas drilling company made a profit of $16.6 million for the six months ended June 30, compared to $18.7 ... Read More »

Central Bank of Iraq auctions $169,726,685 on 12 Sept 2017

CBI

BAGHDAD: The Central Bank of Iraq (CBI) currency auction on September 12 registered $169,726,685 in sales, a 6.40% volume increase from the US $159,518,994 sold by Iraqi Dinar, credit and transfer at the previous auction held on September 11. The latest auction was attended by 41 banks and 10 remittance companies. 1 fewer institutions attended the auction held on September ... Read More »

Jordan border crossing with Iraq opens in major boost to ties

IRAQ

  BAGHDAD: Jordan officially opened its main border crossing with Iraq on Wednesday (August 30) for the first time since 2015, now that Iraqi forces have gained control of the main highway to Baghdad from Islamic State (ISIS) militants, both governments said. “It is very important, this is a sign for peace,” said Mohammed al-Halboosi, the Mayor of Anbar Province.” ... Read More »

Iran exports light-duty trucks to Iraqi Kurdistan region

IRAQ

  BAGHDAD: Iran has started to export locally-produced light-duty trucks to the Iraqi autonomous Kurdish region, Financial Tribune daily reported on Tuesday. Iran’s Soroush Diesel Mabna company, the official dealership of South Korea’s Hyundai commercial vehicles, has begun to ship its locally-produced light-duty trucks to the Iraqi autonomous Kurdish region, the report said. Soroush has clinched a deal with the ... Read More »

Jordanian Iraqi border crossing to reopen after Eid Al Adha

IRAQ

  BAGHDAD: Jordan and Iraq have agreed to reopen the Turaibil – al-Karamah border crossing shortly after Eid Al Adha. A Jordanian security official has told Al Arabiya English that the Karamah crossing will be opened for the public on the third day of Eid, September 3, while staff will be deployed from August 30. “We have conducted a trial ... Read More »

Indian import for Iraqi oil increased in July

IRAQ

BAGHDAD: Oil import from Iraq has risen to 31.5% for India in July from a month ago, shipping data showed, allowing the country to retain the top supplier spot for the fourth consecutive month amid declines from sellers such as Venezuela and Iran. According to ship tracking data, India took 954,400 barrels per day (bpd) of Iraqi oil in July ... Read More »

Iraq, Saudi Arabia to reopen border crossings after 27 years

IRAQ

  BAGHDAD: Iraq and Saudi Arabia are preparing to reopen their shared border crossings that were closed after the Iraqi invasion of Kuwait 27 years ago. Following the conclusion of monthslong bilateral talks, both countries reached an agreement July 17, during a visit to Riyadh by Interior Minister Qasim al-Araji, to reopen several land crossings along the 505-mile border. In ... Read More »

Iraq, UAE and Kazakhstan declared commitment to cut oil production

IRAQ

BAGHDAD: Along with the United Arab Emirates and Kazakhstan, Iraq has declared commitment to a global pact to cut crude oil output at a meeting with industry officials in Abu Dhabi. The Organisation of Petroleum Exporting Countries (OPEC) said, “The three countries, which have lagged in their implementation of a deal to cut production, all expressed their full support for ... Read More »

Indian import for Iraqi oil increased in July

IRAQ

BAGHDAD: Oil import from Iraq has risen to 31.5% for India in July from a month ago, shipping data showed, allowing the country to retain the top supplier spot for the fourth consecutive month amid declines from sellers such as Venezuela and Iran. According to ship tracking data, India took 954,400 barrels per day (bpd) of Iraqi oil in July ... Read More »

$100m contract awarded to Petrofac in Iraq

IRAQ

BAGHDAD: UK-based oilfield services company Petrofac has secured a new contract and the extension of an existing deal to provide engineering services for two international oil companies (IOCs) in Iraq, with an aggregate value of $100m. Under the contract, aside from engineering, Petrofac’s scope of work includes construction management, commissioning and start-up services. The latest extension comes after the company ... Read More »

Iraq secures $195m Japanese loan for electricity sector

IRAQ

BAGHDAD: Japan has agreed to lend Iraq up to $195 million for a project to help repair a thermal power station in the southern province of Basra, an Iraqi government statement said on Saturday. Though Iraq is a major OPEC oil producer, the country faces chronic electricity shortages, with its fragile grid struggling to meet demand after years of war, ... Read More »

Knights of Columbus to raise $2m to rebuild Iraqi town

IRAQ

BAGHDAD: The Knights of Columbus on Tuesday announced it will raise and donate $2 million to re-settle Iraqi Christian families displaced by the Islamic State in their home town of Karemlesh on the Nineveh Plain. “The terrorists desecrated churches and graves and looted and destroyed homes,” Carl Anderson, Supreme Knight of the Knights of Columbus, said in his Aug. 1 ... Read More »

Joint industrial zones to be setup by Iraq, Iran

IRAQ

BAGHDAD: Together Iraq and Iran signed a memorandum of understanding (MoU) for setting up joint industrial zones. Earlier this week, Iran’s Minister for Industry, Mining and Trade, Mohammadreza Nematzadeh and Iraqi Minister for Industry and Minerals Mohammed Shia ‘Al Sudani signed the agreement. Al Sudani stated that it will fetch private sector investment in future. Read More »

Exports to Iraq to pay duties

IRAQ

BAGHDAD: Custom duties on local agricultural and industrial exports to Iraq are now being levied, according to Iraq’s commercial attaché Yasser El Zobeidi. “Our Council of Ministers took the decision to leave the Greater Arab Free Trade Agreement (GAFTA) and start imposing custom duties on incoming merchandise two months ago,” he said. According to El Zobeidi, Iraq’s decision is due ... Read More »

Iraq needs to import Iran’s natural gas: Minister

IRAQ

BAGHDAD: Iraq’s Electricity Minister Qasim al-Fahadawi says his country will need Iran’s natural gas over the next seven years to operate its power stations as the Arab country’s domestically produced natural gas will not suffice. According to a Farsi report by Mehr News Agency, the Iraqi official said new power plants will soon be ready to give service, so the ... Read More »

Kurds urged to start talks with Iraq over oil revenue

IRAQ

BAGHDAD: The Kurdistan Regional Government is holding a referendum on September 25 on independence for the region. The UN envoy for Iraq has warned the road ahead is “extremely challenging“ following the liberation of Mosul, stressing that freeing other territory controlled by Islamic State will not be easy. Jan Kubis told the Security Council on Monday that instituting the rule ... Read More »

Hobby Lobby agrees to renounce smuggled Iraqi Artifacts

IRAWQ

BAGHDAD: A strange story broke late yesterday. The owners of Hobby Lobby, a national chain of arts and crafts stores, agreed to pay a $3 million federal fine and forfeit thousands of ancient Iraqi artifacts. American prosecutors say the antiquities were smuggled out of the Middle East and intentionally mislabeled when they were imported to the U.S. To find out ... Read More »

Iraq exported more than 592m barrels of oil since January

IRAWQ

BAGHDAD: On last Sunday, Iraq’s oil marketing company stated that the country exported 592.378 million barrels of petroleum during the first half of 2017. In its statement, SOMO said that represented a monthly exportation rate of 98.729 million barrels, and a daily rate of 3.290 million barrels. The company also stated that the exports yielded revenues worth USD26.771 million during ... Read More »

Hobby Lobby fined $3m for artifacts smuggled from Iraq

IRAQ

BAGHDAD: The arts-and-crafts retailer Hobby Lobby has agreed to pay a $3 million fine for illegally smuggling thousands of ancient clay artifacts into the United States from Iraq, federal prosecutors said Wednesday. Under a civil complaint in the U.S. District Court for the Eastern District of New York, Hobby Lobby will forfeit thousands of cuneiform tablets, clay bullae and cylinder ... Read More »