Archive | Iraq Industry & Trade News

Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.

Khuzestan Exports $421m to Iraq

In the eleven-month period ending February 19 over 1.5 million tons of goods worth some $421 were exported to Iraq from Khuzestan Province, southwest of Iran. The director of Khuzestan Province Customs Administration, Abbas Alidadi, told ISNA news agency that the goods are 216 percent heavier and 127 percent more in value compared to the […]

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24 hour Traffic Lights

The Director-General of Kindi State Company, Engineer Yousef Hussein Yousef, said that his company has developed a system of traffic light signals which work on power and solar energy, which enable it to work for 24 hours without interruption. This system is distinguished by low price, compared to imported ones, with little consumption of electrical […]

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Basra a Focus for Sweden and Norway

Delegations from the embassies of Sweden and Norway met with the governor of Basra last week to discuss investment opportunities in the province, according to Aswat Al Iraq. The joint delegation, led by the Swedish ambassador to Iraq, expressed the readiness of companies from both countries to contribute to large projects in the province. (Source: […]

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Supplementary Budget May Be Allocated for Ration Cards

The Iraqi Ministry of Trade said that this year’s allocations for ration card items are insufficient, adding that a supplementary budget might be provided for this purpose. “A total of $2.9 billion U.S. dollars has been allocated for rations cards from the 2010 budget,” Trade Minister Safaa al-Din al-Safi told Aswat al-Iraq news agency. “A […]

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Paris Urges Firms to Set Up Shop in Iraq

Following last week’s positive statements from France’s Ambassador to Iraq, France’s Industry Minister Christian Estrosi urged French companies to open offices in Iraq and claim a share of the lucrative investment opportunities in the country. He added that the French government will open a major agricultural centre in Kurdistan to train workers in the agricultural […]

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Successful Iranian Mission to Basra

Following the recent visit by a delegation of  Iranian businessmen and officials to Basra, an Iranian company has started negotiations with the investment commission in Basra over the construction of an iron foundry. The plant is planned cost to cost $10m and will cover 25,000 square meters. (Source: Aswat Al Iraq)

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Ministry Should Pay Merchants

Iraqi Trade Ministry is in debt to merchants who supplied the Ministry with food items related to the ration card system. “This issue would negatively affect the ration card system,” Falah Kamona, head of the Iraqi Chamber of Commerce, told Aswat al-Iraq news agency on Friday. He said that the Ministry has been in debt […]

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Iraq to Import 3 Million Tons of Wheat

Iraq’s Cereals Council said today that Iraq is expected to buy 3 million tons of wheat this year, the same quantity it exported last year. Iraq will also import about a bit more that 1 million ton of rice this year, i.e. a small increase comparing with 2009 exports. Iraq is diversifying its wheat provider […]

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KBR Posts 4th-quarter Decline As Work Winds Down

Engineering and construction company KBR Inc. said Thursday that its fourth-quarter earnings fell 17 percent as U.S. military work in Iraq declined and some contract fees were reversed, and it trimmed the low end of its full-year outlook. Profit for the fourth quarter slid to $73 million or 45 cents a share, from $88 million, […]

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Confectionery Group Sets Dh100m Sales Target

HMBS Group, one of the largest business conglomerates in Iraq, plans to increase sales of its confectionery products by expanding its distribution network to 32 countries this year, a top company executive said. The group has invested Dh220 million to set up a modern confectionery plant in Jebel Ali as a part of a Dh370-million […]

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