Archive | Investment

Iraq Business News brings you the latest news of investments in Iraq, highlighting the many opportunities that exist.

100s More Companies in Iraq

Kurdistan’s sixth international trade fair in Erbil opened on Monday with 850 companies from 25 countries. Hundreds of companies are at the fair for the first time. Albert Awun of EFB Arak, which organised the fair, told AKnews: “The percentage of the participating new companies in the exhibition compared to last year is about 50%, while the […]

Karbala Gets More Money for Investment

The city of Karbala in central Iraq has stretched its 90bn-dinar budget ($75m) to hundreds of investment projects and has now been granted another 12bn dinars ($10m) by Iraq’s Finance Ministry. As our blogger Stewart Blair wrote this month: “UAE property developers/investors have been active in the south where mixed use developments in Karbala are springing up […]

At Least 9 Killed in Iraq Gold Shop Robbery

With gold recently hitting highs of nearly $1,400 per ounce, an armed raid on a row of goldsmiths’ shops in Baghdad has left at least nine people dead. The gunmen used hand grenades and small arms to kill three gold shop owners in a market in the Mansour district of western Baghdad, an Interior Ministry […]

Kurdistan Development to Continue Unabated

Urban and economic progress in Kurdistan continues with many relatively stable areas and regional policy both being attractive to foreign investment. Developments in oil, too, will not be affected by delays in forming the next Iraqi government, the local government says. The Kurdistan Regional Government points to its profit-friendly legislation including ten-year tax breaks and land set aside […]

11 New Investment Permits Worth $243m in Baghdad

Baghdad Investment Commission has granted 11 new permits to invest $243 million [290 billion Iraqi dinars] in different sectors of the Iraqi capital. “The investments will embrace the sectors of housing, commerce, tourism, and industries,” the commission said in a press release on Wednesday, according to Aswat al-Iraq news agency. It explained that the commission […]

Bids Invited for Old Iraqi Jets

Iraq wants to sell five decrepit Iraqi Airways planes stranded in Jordan since Saddam Hussein’s 1990 invasion of Kuwait, BusinessWeek reported on Tuesday. Fearing strikes on Baghdad’s airport, Saddam sent the planes to Jordan for protection when it became clear a U.S.-led coalition would attack Iraq to force it to relinquish Kuwait. Aqeel Hadi Kawthar, […]

New Iraq Equities Fund to Tap Growth

Abu Dhabi’s Invest AD has launched an Iraq Investment Fund to channel investment into high-growth companies in a country where improving stability and increased oil production should fuel strong economic expansion in coming years. Invest AD is seeding the fund and is marketing it alongside its other equities and private equity funds that invest in […]

Redenomination an unlikely priority for the CBI

Earlier this month it was reported that the Central Bank of Iraq (CBI) might redenominate the Iraqi dinar after the new government is formed, exchanging one new dinar for 1,000 old. (For more on this story, see http://www.iraq-businessnews.com/2010/09/14/central-bank-wants-to-drop-zeros-from-iraqi-dinar/.) While such a redenomination would obviously help to simplify transactions and record keeping, it is not clear […]

National Food Industries Raising Funds

National Food Industries has announced that it will be issuing 100% paid up shares at the price of IQD (1 per share) for those shares purchased and owned prior to the holding of its general assembly meeting. Shareholders trading through Warka Bank are advised to submit their authorization letters to purchase the paid up shares […]