Business Iraq

More

  • BAGHDAD, May 26- The Islamic Development Bank has given its initial agreement to provide $3 billion in easy loans and grants to Iraq, helping the nation cope with a sharp decline in oil revenue, a central bank spokesman in Baghdad said Thursday in an email. Iraq earlier this month agreed a $5.4 billion standby loan with the International Monetary Fund.

  • LONDON, May 24- Oil reversed early losses to turn positive on Tuesday, as investors awaited crude oil inventory data from the United States that was expected to show a shrinking supply overhang. Brent futures had gained 26 cents to $48.34 a barrel by 1242 GMT, after closing down 37 cents in the previous session. The American Petroleum Institute releases inventory...

  • *Iraq, Nigeria need to repay debts to oil majors with oil. This has crippled the finances of countries such as Angola, Venezuela, Nigeria and Iraq and created a further division within the Organization of the Petroleum Exporting Countries. This year Angola, Nigeria, Iraq, Venezuela and Kurdistan are due to repay a total of between $30 billion and $50 billion with oil,...

  • BAGHDAD, May 24- Iraq's total oil output has reached 4.7 million barrels per day and exports are running at a record 3.9 million bpd, the state-run Iraqi Media Network reported, citing an oil official. The figures are for all of Iraq, including the northern Kurdistan region and Kirkuk, Deputy Oil Minister Fayadh al-Nema said, according to the website.

  • SINGAPORE, May 20- Donald Trump's "isolationist" foreign policy pronouncements are feeding insecurity in some Asian nations fearful of China's growing power, and risk emboldening nationalists and authoritarians in the region. Trump has said U.S. allies like Japan and South Korea should pay more towards their defence, warned he could withdraw U.S. troops from...

  • SINGAPORE, May 20- Donald Trump's "isolationist" foreign policy pronouncements are feeding insecurity in some Asian nations fearful of China's growing power, and risk emboldening nationalists and authoritarians in the region. Overall, his comments have sounded like a death knell for the "pivot to Asia" strategy adopted by President Barack Obama five years ago.

  • AMMAN, Jordan— The International Monetary Fund said Thursday that it is lending $5.4 billion over three years to cash-strapped Iraq, which has been hit hard by a sharp drop in oil prices. In exchange, Iraq is being asked to reduce public spending, improve collection of tax and customs revenues and fight corruption and money laundering, said Christian Josz, head of...

  • Saudi Oil Minister Ali al-Naimi, center right, arrives at an oil-producers' meeting in Doha, Qatar, on Sunday, April 17, 2016.

    The ouster of Saudi Arabia’s oil minister will send oil prices lower … and for quite some time. Here’s why, says Mark Harrington.

  • Must Read: Playing Hillary's character card

    The "Worldwide Exchange" crew discusses some of the morning's top attention-grabbing headlines, including a Wall Street Journal article titled "Dubya is still right about the war," and Bret Stephens piece titled "Hillary: The Conservative hope."

  • Top ISIS recruiter killed in US airstrike

    Neil Prakash was the mastermind behind attacks against both Australia and the US.

  • ISIS fighter, North American ISIS fighter, Islamic State

    IS militants killed a U.S. Navy SEAL in northern Iraq on Tuesday after blasting through Kurdish defenses and overrunning a town, officials said.

  • *Political leaders condemn storming of Green Zone. BAGHDAD, May 1- Protesters camped out in Baghdad's Green Zone for 24 hours left the heavily fortified government district on Sunday after issuing demands for political reform but they pledged to return by the end of the week to keep up the pressure. Iraq has endured months of wrangling prompted by Prime Minister...

  • *Political leaders condemn storming of Green Zone. BAGHDAD, May 1- Iraqi Prime Minister Haider al-Abadi and other political leaders promised on Sunday to deliver on radical reforms and stem a deepening crisis as protesters held an unprecedented sit-in inside Baghdad's heavily fortified government district. Iraq has endured months of wrangling prompted by...

  • BASRA, Iraq, May 1- Iraq exported oil from southern fields at an average rate of 3.364 million barrels per day in April, higher than the March average of 3.286 million, Oil Ministry spokesman Asim Jihad said on Sunday. But they failed to reach a deal at an April 17 meeting, and rising exports from Iraq as well as other nations including Russia underline the challenges...

  • ISIS turns to selling fish and cars for income

    Islamic State is now earning millions of dollars each month from selling cars and fish to make up for lower oil income.

  • DUBAI, April 28- International Finance Corporation, the World Bank's private sector investment arm, said on Thursday it had arranged $375 million in financing for an Iraqi power company to provide electricity to millions of people in Kurdistan and Baghdad. The investment in Kurdistan will help boost infrastructure in a part of Iraq that is struggling...

  • A U.S. Air Force munitions team member uncases the laser-guided tip for a 500 pound bomb to be loaded onto an unmanned aerial vehicle, for airstrikes on ISIL targets on January 8, 2016 at a base in the Persian Gulf Region.

    As President Obama announces a military expansion in Syria, an analyst says the U.S. is running through its supply of bombs.

  • *Deployment increases U.S. forces in Syria sixfold to 300. HANOVER, Germany, April 25- President Barack Obama announced on Monday the biggest expansion of U.S. ground troops in Syria since its civil war began, but the move was unlikely to mollify Arab allies angry over Washington's cautious approach to the conflict. The deployment of up to 250 Special Forces...

  • *Deployment increases U.S. forces in Syria six-fold to 300. HANOVER, Germany, April 25- President Barack Obama announced on Monday the biggest expansion of U.S. ground troops in Syria since its civil war began, but the move was unlikely to mollify Arab allies angry over Washington's cautious approach to the conflict. The deployment of up to 250 Special Forces...

  • LONDON, April 25- Oil exports from southern Iraq have reached a record monthly rate so far in April as OPEC's second-largest producer resumes the supply growth that has added downward pressure on prices. Baghdad had given verbal support to an initiative by OPEC and outside producers to freeze output. But they failed to reach a deal at an April 17 meeting, and...