Saturday , May 27 2017
Breaking News


Customs catch homing pigeon with backpack


BAGHDAD: A homing pigeon with a tiny backpack full of drugs, presumably on his way to a ripper party, was apprehended by Kuwaiti customs agents when he crossed the border from Iraq earlier this week. Customs agents in Kuwait have caught a homing pigeon crossing the border form Iraq with a tiny backpack filled with pills. According to Al Arabiya, ... Read More »

Iraq, Saudi Arabia agree on 9-month extension of OPEC cut


BAGHDAD: OPEC heavyweights Saudi Arabia and Iraq agreed on Monday on the need to extend a global cut in oil supply by nine months in an effort to prop up crude prices, removing a potential stumbling block as producing countries prepare to meet this week. Saudi Energy Minister Khalid al-Falih said he did not expect any opposition within the Organization ... Read More »

Iraq replaces Saudi as top oil supplier to India in April


BAGHDAD: Iraq replaced Saudi Arabia as top crude supplier to India in April as refiners moved to boost their processing margins by purchasing the cheaper Basra Heavy oil grade, ship tracking and Thomson Reuters trade flow data showed. India’s April imports from Iraq topped 1 million barrels per day (bpd) for the first time, up by about a third from ... Read More »

Egypt to receive first shipment of Iraqi crude oil


BAGHDAD: Egypt will receive two million barrels of crude oil on Tuesday from Iraq, the first shipment to arrive as part of a deal with the Iraq’s state oil marketing company SOMO, Al-Ahram’s Arabic website quoted Egypt’s Oil Minister Tarek El-Molla as saying. Under the terms of the year-long agreement, which was reached last month by Baghdad and Cairo, Iraq ... Read More »

Iran bans scrap metal imports from Iraq, Afghanistan on contamination fears


BAGHDAD: Iran’s customs authority has banned the import of any scrap metal, including ferrous scrap, from Iraq and Afghanistan, following a request from the Trade Promotion Organization of Iran, according to a customs circular published by the Iranian customs website and domestic news agencies this week. Scrap from the two countries could be contaminated with radioactive material or chemicals, and ... Read More »

ICTSI makes $51.7-M net income from $297-M revenues in Q1


BAGHDAD: International Container Terminal Services, Inc. (ICTSI) ended the first three months of the year with positive income and revenues on strong operating income, among others. ICTSI  reported yesterday its unaudited consolidated financial results for the quarter ending March, highlighting its revenue from port operations, which increased by 12 percent to US$297.2 million compared to the US$266.5 million it had ... Read More »

Iraq exempts Jordanian products from customs


BAGHDAD: Jordanian Industry Minister Ya’rub al-Qudhat announced that agreement was reached with the Iraqi authorities to exempt Jordanian products from customs. The Jordanian side will provide Iraq with the total capacities of the Jordanian factories by next May, 2017, he added.”Jordan will abide with the Iraqi agricultural calendar in the supply of agricultural products”,  the minister elaborated. Read More »

Ooredoo Q3 profit falls 51% on Iraq, forex losses


BAGHDAD: Qatari telecom operator Ooredoo reported a 51 percent fall in third-quarter net profit on Sunday. The earnings of the former monopoly, which operates in about a dozen territories across the Middle East, Africa and Asia, have been hit from mid-2013 by foreign exchange losses and plunging earnings from Iraq, although a strong domestic performance has helped mitigate the impact. ... Read More »

Iraqi vp warns of ‘catastrophic’ humanitarian situation in Mosul


BAGHDAD: Iraqi Vice President Osama al-Nujaifi said the humanitarian situation in Mosul has reached a “catastrophic point” as Iraqi forces engage in clashes with Islamic State (ISIS) militants in western Mosul. “The situation is catastrophic amid famine and lack of food and medicine, which make the city live an unbearable situation,” al-Nujaifi told a party meeting late Sunday (April 30). ... Read More »

Saudi Arabia seen losing market share to Iran, Iraq on oil cuts


BAGHDAD: Saudi Arabia, the world’s biggest crude exporter, is losing market share to Iraq and Iran as a result of OPEC’s agreement to curb supplies to bolster prices, according to the head of research at Abu Dhabi Investment Authority. “If you’re talking about winners, you can count Iran and Iraq,” Christof Ruehl said Wednesday at a conference in Dubai. The ... Read More »

ICAA calls on cargo flights to land at Baghdad for security checks


BAGHDAD: Iraq’s Civil Aviation Authority (ICAA) called on cargo flights to land at Baghdad International Airport before landing at any other international airports in the country. The ICAA Operation said in an instruction to customers and airline operators on Wednesday (April 26) that cargo flights must stop at Baghdad International Airport from May 1 for security checks. “Starting from the ... Read More »

PM offers Iraq $110m during Anzac visit


BAGHDAD: Prime Minister Malcolm Turnbull has offered Iraq an extra $110 million in humanitarian assistance during an unannounced visit to Australian troops ahead of Anzac Day commemorations. Mr Turnbull said Islamic State had lost 60 per cent of territory once held in Iraq, with more than two million people liberated from its grasp in 2016, and the funding would help ... Read More »

Apple exports rise to $87m in 11 months


BAGHDAD: More than 334,300 tons of apples worth close to 3.3 trillion rials ($87.1 million) were exported from Iran during the 11 months to February 18, the Islamic Republic of Iran Customs Administration announced. The main customers of Iranian apples over the period were the UAE, Afghanistan, Pakistan, Azerbaijan, Georgia, Iraq, Turkmenistan, Russia, Oman, Kyrgyzstan, Kazakhstan, Kuwait, India, Qatar, Bahrain, ... Read More »

Egypt inks first oil deal with Iraq


BAGHDAD: Egypt has agreed to import one million barrels of Iraqi oil a month, Minister of Petroleum Tareq el-Molla announced. The contract for the deal will be signed within days, he added in a press conference on Tuesday at the Cabinet headquarters. Molla expects the first shipment to reach Egypt on May 1. The ship capacity is up to two ... Read More »

Iraq plans three gas processing plants to reduce flaring

BAGHDAD: Iraq plans to build three new plants to process natural gas currently being flared at southern oil fields, and use the fuel for power generation and to increase the nation’s income from energy exports, Oil Minister Jabar al-Luaibi said on Monday. Iraq is forced to flare some of the gas produced alongside crude oil as it lacks the facilities ... Read More »

Iraqi envoy for inking ‘twin cities agreement’ with Pakistan


BAGHDAD: Ambassador of Iraq in Pakistan Dr Ali Yasin Mohammed Karim has underscored the need for inking a ‘twin cities agreement’ between Pakistan and Iraq, which, he argued, would not only help in dealing with visa issues but will also pave the way for bringing people more closer to each other and enhancing trade. He suggested that this could be ... Read More »

Eversendai sees 27.4% revenue jump


BAGHDAD: Eversendai Corp Bhd said its revenue should grow more than 27 per cent to RM2 billion this year, although a local research house is not as optimistic. Eversendai executive chairman and group managing director Tan Sri A.K. Nathan told NST Business the company was expected to post a 27.39 per cent revenue jump from RM1.57 billion last year. “We ... Read More »

Customs officers found 3720 kg of acetic anhydride hidden in trucks


BAGHDAD: Customs officers at Kalotina Checkpoint have seized 3720 kg of acetic anhydride. This was announced by the press center of the National Customs Agency. The precursor was found during a check of three trucks carrying apples from Serbia to Iraq. The three trucks were selected for scanning, which detected density anomalies. During the physical inspection the customs officers discovered ... Read More »

Disagreement at Iraq’s oldest oil field could threaten world supply


BAGHDAD: A territorial dispute in northern Iraq threatens to disrupt oil output at a field containing as much crude as Norway, even as U.S.-backed forces prepare what could be a decisive blow against ISIS militants in the nearby city of Mosul. Kirkuk, where Iraq first discovered oil in 1927, can produce more than 1 million barrels a day but is ... Read More »

Iraq keen to reach agreement with Iran on joint oil fields

A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, Iran, July 25, 2005.   REUTERS/Raheb Homavandi/File Photo

BAGHDAD: Iraqi Oil Minister Jabbar Allaibi said his country plans to reach an agreement with Iran on exploitation of the joint oil fields. He made the remarks during his speech at the Iraq Energy Forum 2017. The official said Baghdad is in serious talks with Tehran on joint use of oil fields in the two country’s borders. He called for ... Read More »