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| FINANCE & ECONOMY |
Crude oil prices (January 16)
January 17, 2019
SULAIMANI — Crude oil prices were up on Wednesday (January 16), compared to the previous close. The price of Brent oil was $60.74 up from $59.81, and US WTI crude was $52.14 from $51.24. The Organization of the Petroleum Exporting Countries (OPEC) and its Russia-led allies agreed on December 7 to slash oil production by more than the market had expected. They"...
Iran, Iraq agree to simplify customs procedures at border: officials
January 16, 2019
SULAIMANI — The General Customs Authority confirmed Monday (January 14) that the Iraqi and Iranian governments had agreed to regulate and simplify customs procedures between the two countries. Meanwhile, Iranian Foreign Minister Javad Zarif announced visa-free travel for Iraqi traders coming to Iran. In a statement, the General Customs Authority said that Baghdad"...
France Pledges 1bn EUR Loan to Rebuild Iraq
January 16, 2019
France has reportedly agreed to lend Iraq 1 billion euros to help in the reconstruction efforts. According to Reuters, Foreign Minister Jean-Yves Le Drian announced the agreement to reporters following a meeting on Monday with his Iraqi counterpart Mohammed al-Hakim in Baghdad. The cost of reconstruction in Iraq is estimated at $88 billion, of which around $30 billion was pledged at a donor conference early last year. iraq-businessnews ...
Jordan’s Contractors see New Opportunities in Iraq
January 16, 2019
Business leaders in Jordan have reportedly welcomed increased access to Iraq’s $88.2-billion reconstruction efforts. According to a report from Jordan Tmes, a recent agreement to grant Jordanian construction contractors equal status to their Iraqi peers was described as “a God-sent miracle” by engineer and board member of the Jordan Construction Contractors Association (JCCA) Abdel Haleem Bustanji. “It"...
Iran FM, business leaders seek to strengthen ties with Kurdistan Region
January 16, 2019
ERBIL, Kurdistan Region — Iran Foreign Minister Javad Zarif arrived in the Kurdistan Region's capital of Erbil on Tuesday along with tens of business leaders to try to forge closer relations. 'The Kurdistan Region is an important neighbor for us ... We need each other and neither side can develop without the help of the other,' said Zarif during a statement"...
Kurdistan, Iran keen to see trade grow as Sulaimani hosts economic forum
January 16, 2019
SULAIMANI, Kurdistan Region – US sanctions on Iran appeared to have little bearing on discussions as Sulaimani hosted the ‘Iran-Iraq (Kurdistan Region) Economic Forum’ on Tuesday.
“We fought ISIS side by side… and traded together to develop Iraq, Iran, and the Kurdistan Region. These relations, which have been watered by the blood of martyrs, cannot be harmed by anyone or anything,” Iranian Foreign Minister Mohammad Javad Zarif said during the forum.
Zarif is"...
Volunteers help Kurdistan and Iraq's youth in challenging job market
January 16, 2019
ERBIL, Kurdistan Region – A small team of volunteers across the Kurdistan Region is helping the unemployed, especially youth to find work in a society where unemployment is high and it's often difficult for recent graduates to find a job.
Omer Ismail began the project in 2014, shortly after graduating from university in Erbil with a degree in Environmental Sciences.
He wanted to provide places online for employers to post jobs and the community within the Kurdistan Region and Iraq to find"...
Teradata Appoints Oliver Ratzesberger President and CEO
January 16, 2019
Teradata (NYSE: TDC), the industry’s only pervasive data intelligence company, today announced that its Board of Directors has appointed Oliver Ratzesberger President and Chief Executive Officer (CEO), effective immediately. Ratzesberger succeeds Victor L. Lund, who is transitioning from his role as President and CEO to Executive Chairman of the Board of Directors. Ratzesberger has served as Teradata’s Chief Operating Officer (COO) since February 2018, responsible for the Company’s global operations and leading its strategies for go-to-market, products and services. He joined Teradata in 2013 and, from 2016 to 2018, served as the Company’s Executive Vice President and Chief Product Officer, leading Teradata’s research and development organization, following a distinguished career in advancing innovation in technology at both established and start-up companies. While COO, Ratzesberger worked alongside Lund in architecting and implementing the Company’s transformation. This appointment reflects the Board’s confidence in Ratzesberger......
Best’s Special Report: Cash Collection Remains Problematic for Insurers in the United Arab Emirates
January 16, 2019
The challenges faced by insurers in the United Arab Emirates (UAE) in relation to insurance debtors can apply additional pressure on already distressed technical margins, according to a new report by AM Best. In the Best’s Special Report, titled, “Cash Collection Remains Problematic for Insurers in the United Arab Emirates,” AM Best notes that while average insurance debtor days for listed UAE-national insurers has showed an improving"...
Jam City Announces $145 Million in Strategic Financing to Fuel Consolidation and Growth Initiatives
January 16, 2019
Jam City, Inc., a leader in mobile entertainment, today announced $145 million in strategic financing jointly led by JPMorgan Chase Bank, N.A. and Bank of America Merrill Lynch, and a syndicate of lenders including Silicon Valley Bank, SunTrust Bank and CIT Bank, N.A. The financing will support Jam City’s acquisitions and global growth initiatives. Today’s announcement follows Jam City’s recent multi-year game development deal with Disney"...
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