CoolClownFish’s Blog – $375m Financing Deal for Power Sector

<p><em>By John Lee.</em></p>
<p><span id=”articleText”>Dimitris Tsitsiragos</span>, the Vice President of the <strong>World Bank</strong>‘s private sector investment arm, told <em>Reuters</em> on Thursday that the bank had arranged $375 million in financing for an Iraqi power company.</p>
<p>The <strong>International Finance Corporation (IFC)</strong> will provide a debt and equity package of $250 million, with another $125 million from Lebanon’s <strong>Bank Audi</strong>.</p>
<p><strong>Mass Global Energy Sulimaniya</strong> will use the financing to add 500 megawatts of capacity to a 1,000-megawatt power plant (pictured) in Kurdistan, providing power to 3 million people.</p>
<p>It will also help complete a new power plant near Baghdad that will supply about half of the Iraqi capital’s electricity requirements.</p>
<p><em>(Source: Reuters)</em></p>

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$375m Financing Deal for Power Sector

By John Lee. Dimitris Tsitsiragos, the Vice President of the World Bank‘s private sector investment arm, told Reuters on Thursday that the bank had arranged $375 million in financing for an Iraqi power company. The International Finance Corporation (IFC) will provide a debt and equity package of $250 million, with another $125 million from Lebanon’s […]

CoolClownFish’s Blog – Iraq shuts down Al Jazeera Baghdad Bureau

<p>The Iraqi <strong>Communications and Media Commission (CMC)</strong> has reportedly shut down the Baghdad bureau of Al Jazeera Media Network and banned its journalists from reporting in the country.</p>
<p>According to a report from Al Jazeera, in a letter to the company on Wednesday, the CMC said it was withdrawing the licence that allowed Al Jazeera to operate in Iraq due to “<em>violations of the official codes of conduct and broadcasting rules and regulations</em>“.</p>
<p>The network said it was “<em>shocked and bewildered</em>” by the decision, and promised to continue its coverage of Iraq for its audience there and around the world.</p>
<p>“<em>Al Jazeera is committed to its editorial principles in the coverage of current affairs in Iraq. It abides by its code of ethics in its coverage and programming, and by the highest global standards of professionalism, and has been doing so since its launch,</em>” Al Jazeera said in a statement.</p>
<p>The network denied any violations of professional journalism standards in its news coverage and programming.</p>
<p>The commission’s decision “<em>contradicts the promises of the Iraqi government to protect freedom of speech</em>“, the statement said.</p>
<p>“<em>The network hopes that its Baghdad bureau can resume operations as soon as possible, in the spirit of the press freedoms guaranteed by the Iraqi constitution.</em>”</p>
<p><em>(Source: Al Jazeera)</em></p>

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Iraq shuts down Al Jazeera Baghdad Bureau

The Iraqi Communications and Media Commission (CMC) has reportedly shut down the Baghdad bureau of Al Jazeera Media Network and banned its journalists from reporting in the country. According to a report from Al Jazeera, in a letter to the company on Wednesday, the CMC said it was withdrawing the licence that allowed Al Jazeera […]

CoolClownFish’s Blog – Japan to open Consulate in Erbil

<p>President Masoud Barzani received a Japanese embassy delegation headed by Ambassador Fumio Iwai, Japan’s Ambassador to Iraq.</p>
<p>President Barzani and Ambassador Iwai spoke of the current political situation in Iraq and expressed optimism that matters will be moving in a more positive direction. The two sides also spoke of the military operations against the terrorists of the Islamic State.</p>
<p>Ambassador Iwai stated that Japan will continue to provide humanitarian support to Iraq and to the Kurdistan Region as they collectively strive to rid the region of the terrorists of the Islamic State. The Ambassador added that mentions of the economic crisis in Iraq and in the Kurdistan Region will be discussed during the upcoming G7 Summit in Shima, Japan next month.</p>
<p>President Barzani used the opportunity to express his appreciation to the people and government of Japan for their continued support to the Kurdistan Region and hoped that the bilateral relations between the Kurdistan Region and Japan will witness even further enhancement.</p>
<p>On his part, Ambassador Iwai stated that Japan has begun preparing for the opening of a diplomatic mission in Kurdistan and will open a consulate in the Kurdistan Region in early 2017.</p>
<p><em>(Source: KRG)</em></p>

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Japan to open Consulate in Erbil

President Masoud Barzani received a Japanese embassy delegation headed by Ambassador Fumio Iwai, Japan’s Ambassador to Iraq. President Barzani and Ambassador Iwai spoke of the current political situation in Iraq and expressed optimism that matters will be moving in a more positive direction. The two sides also spoke of the military operations against the terrorists […]

CoolClownFish’s Blog – Video: Mass Protests in Baghdad

<p><em>From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of <a href=”http://www.iraq-businessnews.com/”>IraqBusiness News</a>.</em></p>
<p>Mass protests against Iraq’s government have once again swamped the streets of Baghdad.</p>
<p>They want the government out and new leadership that prioritises eliminating corruption.</p>
<p>The political standoff in Iraq’s parliament is having an impact on Iraq’s fight against ISIL.</p>
<p><em>Al Jazeera</em>‘s Mereana Hond explains:</p>
<p><span class=’embed-youtube’ style=’text-align:center; display: block;’><iframe class=’youtube-player’ type=’text/html’ width=’640′ height=’390′ src=’http://www.youtube.com/embed/r6z_HumfYSg?version=3&rel=1&fs=1&autohide=2&showsearch=0&showinfo=1&iv_load_policy=1&wmode=transparent’frameborder=’0′ allowfullscreen=’true’></iframe></span></p>

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Video: Mass Protests in Baghdad

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Mass protests against Iraq’s government have once again swamped the streets of Baghdad. They want the government out and new leadership that prioritises eliminating corruption. The political standoff in Iraq’s parliament is having […]

CoolClownFish’s Blog – Coalition Strikes Hit ISIL Targets in Iraq

<p>U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Iraq on Tuesday, Combined Joint Task Force Operation Inherent Resolve officials reported on Wednesday.</p>
<p>Officials reported details of the latest strikes, noting that assessments of results are based on initial reports.</p>
<p><strong>Strikes in Iraq</strong></p>
<p>Bomber, fighter, ground attack and remotely piloted aircraft conducted 23 strikes in Iraq, coordinated with and in support of Iraq’s government:</p>
<ul>
<li>Near Baghdadi, a strike struck an ISIL tactical unit and destroyed two ISIL tunnel systems, an ISIL tunnel entrance, an ISIL heavy machine gun, an ISIL recoilless rifle and an ISIL fighting position.</li>
<li>Near Beiji, two strikes struck two separate ISIL tactical units and destroyed three ISIL fighting positions.</li>
<li>Near Fallujah, three strikes struck an ISIL tactical unit, destroyed two ISIL mortar systems and suppressed an ISIL tactical unit.</li>
<li>Near Hit, a strike struck an ISIL tactical unit and destroyed an ISIL machine gun and an ISIL anti-air artillery piece.</li>
<li>Near Kirkuk, a strike struck an ISIL tactical unit and destroyed an ISIL assembly area.</li>
<li>Near Kisik, a strike struck an ISIL tactical unit and an ISIL mortar system.</li>
<li>Near Mosul, five strikes struck three separate ISIL tactical units and destroyed two ISIL rocket rails, an ISIL vehicle and an ISIL fighting position and suppressed an ISIL heavy machine gun.</li>
<li>Near Qayyarah, four strikes struck three separate ISIL tactical units and destroyed an ISIL mortar system.</li>
<li>Near Sinjar, a strike suppressed an ISIL mortar position.</li>
<li>Near Sultan Abdallah, a strike struck an ISIL tactical unit and destroyed an ISIL assembly area and an ISIL supply cache.</li>
<li>Near Tal Afar, three strikes destroyed two ISIL tunnel systems and an ISIL front-end loader and denied ISIL access to terrain.</li>
</ul>
<p>Task force officials define a strike as one or more kinetic events that occur in roughly the same geographic location to produce a single, sometimes cumulative, effect. Therefore, officials explained, a single aircraft delivering a single weapon against a lone ISIL vehicle is one strike, but so is multiple aircraft delivering dozens of weapons against buildings, vehicles and weapon systems in a compound, for example, having the cumulative effect of making those targets harder or impossible for ISIL to use. Accordingly, officials said, they do not report the number or type of aircraft employed in a strike, the number of munitions dropped in each strike, or the number of individual munition impact points against a target. Ground-based artillery fired in counterfire or in fire support to maneuver roles is not classified as a strike.</p>
<p><strong>Part of Operation Inherent Resolve</strong></p>
<p>The strikes were conducted as part of <a id=”anch_85″ href=”http://www.defense.gov/News/Special-Reports/0814_Inherent-Resolve”target=”_blank”>Operation Inherent Resolve</a>, the operation to eliminate the ISIL terrorist group and the threat they pose to Iraq, Syria, and the wider international community. The destruction of ISIL targets in Syria and Iraq further limits the terrorist group’s ability to project terror and conduct operations, officials said.</p>
<p>Coalition nations that have conducted strikes in Iraq include the United States, Australia, Belgium, Canada, Denmark, France, Jordan, the Netherlands and the United Kingdom. Coalition nations that have conducted strikes in Syria include the United States, Australia, Bahrain, Canada, France, Jordan, the Netherlands, Saudi Arabia, Turkey, the United Arab Emirates and the United Kingdom.</p>
<p><em>(Source: US Dept of Defense)</em></p>

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Coalition Strikes Hit ISIL Targets in Iraq

U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Iraq on Tuesday, Combined Joint Task Force Operation Inherent Resolve officials reported on Wednesday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Iraq Bomber, fighter, ground attack […]

CoolClownFish’s Blog – Iraq “one of the Biggest Investment Opportunities”

<p><em>By Padraig O’Hannelly.</em></p>
<p>The United Kingdom’s Ambassador to Baghdad has said Iraq has the potential to become an economic force in the region, and encouraged British businesses to take advantage of the opportunities it presents.</p>
<p>Addressing senior executives at the <strong>Iraq Britain Business Council (IBBC)</strong>‘s <a href=”http://www.webuildiraq.org/blog/ibbc-conference/spring-conference-2016/”target=”_blank”>Spring Conference</a> in London on Wednesday, H.E. Frank Baker OBE said that to achieve this, Iraq needs to realise its vision to implement substantive economic reforms and to rebuild key infrastructure and institutions, adding:</p>
<p style=”padding-left: 30px;”><em>“This economic reform cannot take place without developing the country’s private sector, because that in turn will help bring about stability and prosperity.</em></p>
<p style=”padding-left: 30px;”><em>“Despite all the challenges, Iraq offers one of the greatest investment opportunities in the region.”</em></p>
<p>Referring to “<em>stifling bureaucracy and corruption</em>“, the Ambassador acknowledged that it is not a market for the faint hearted, but advised British enterprises with a “<em>buccaneering spirit</em>” take on the challenge.</p>
<p style=”padding-left: 30px;”><em>“Iraq will offer one of the biggest investment opportunities to UK companies in the first half of this century, but to do so, British business has to be prepared to manage the risks and to take chances.”</em></p>
<p>The <a href=”http://www.webuildiraq.org/blog/ibbc-conference/spring-conference-2016/”target=”_blank”>conference </a>continues on Thursday.</p>

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Iraq “one of the Biggest Investment Opportunities”

By Padraig O’Hannelly. The United Kingdom’s Ambassador to Baghdad has said Iraq has the potential to become an economic force in the region, and encouraged British businesses to take advantage of the opportunities it presents. Addressing senior executives at the Iraq Britain Business Council (IBBC)‘s Spring Conference in London on Wednesday, H.E. Frank Baker OBE said […]