Latest Economy News

(IraqiNews.com) The World Bank affirmed on Monday that the economic growth rates in countries that are witnessing conflicts and battles such ad Iraq, Syria, Yemen and Libya will not improve soon and expected the economic situation in Iraq to remain ‘fragile’ due to the ongoing violence, battles and retreat in oil prices. It also pointed out that Iraqi GDP will grow by 4.3 pe

  PETERSBURG, June 16. /TASS/. Gazprom Neft plans to boost oil production at the Badra field in Iraq to 115,000 barrels daily, First Deputy Chief Executive Officer of the company Vadim Yakovlev said on Thursday at the St. Petersburg International Economic Forum (SPIEF). "115,000 barrels daily with an option of upward increase; we will reach approximately this level in th

Iraq has approved measures requested by the International Monetary Fund to unlock loans that should help the country overcome a cash crunch caused by declining oil revenue, a senior government official said. The agreement, reached last month between Iraq and the IMF, "is on track", Mudher Salih, an adviser on financial policy to Prime Minister Haider al-Abadi, told Reuters l

Lukoil is also discussing with the Iraqi authorities creation of a joint venture on the block adjacent to the West Qurna - 2 VIENNA, June 1. /TASS/. Russia’s Lukoil and China National Petroleum Corporation (CNPC) are considering creation of consortium on the Nasyriyah project in Iraq, Lukoil’s President Vagit Alekperov told reporters on the sidelines of the coming OPEC summi

Intelligence chief, bank directors are out as Haider al-Abadi attempts to push through reforms By : GHASSAN ADNAN, ALI NABHAN and ASA FITCH Iraqi Prime Minister Haider al-Abadi dismissed key officials, including the country’s intelligence chief and directors of six state-owned banks, Tuesday as he tries to push through government reforms in the face of growing popular prote