Latest Economy News

OPEC oil producer Iraq is expected to complete the Faw Grant Port, one of the world’s largest container terminals, on schedule by 2023, its Planning Minister was quoted on Monday as saying. Nouri Al-Dulaimi said a large part of the project in South Iraq was completed in 2019 and that new contracts include more wharfs as well as roads and rail networks linking the port with t

BAGHDAD (Reuters) - The United States has agreed to extend a waiver for Iraq to import Iranian energy supplies, including gas, two Iraqi government officials said on Monday. Washington has repeatedly extended the exemption for Baghdad to use crucial Iranian energy supplies for its power grid, for periods of 90 or 120 days. One of the officials said this latest extension woul

Mohammed Tawfiq Allawi said he has put together a cabinet of political independents and called on parliament to hold an extraordinary session next week to grant it a vote of confidence. (File/AFP) BAGHDAD: Iraqi Prime Minister-designate Mohammed Tawfiq Allawi said on Wednesday he has put together a cabinet of political independents and called on parliament to hold an extraor

The Cabinet held its regular weekly meeting in Baghdad on Tuesday under the chairmanship of Deputy Prime Minister and Minister of Oil, Thamir Ghadhban. The Cabinet discussed support measures for IDPs, and authorised the Ministry of Migration and Displaced to continue to fund programmes to meet the needs of displaced individuals and families until the Federal Budget for 2020

Iraq relies heavily on Iranian natural gas but the U.S. is pushing for the country to wean itself off that energy source   BAGHDAD—The U.S. plans to renew a waiver allowing Iraq to import natural gas and electricity from Iran without risking sanctions, U.S. and Iraqi officials said, as Washington and Baghdad move to ease tensions after diplomatic ties nearly unravele