CBI Rebuffs Speculation Over Foreign Currency Reserves
By John Lee. The Central Bank of Iraq (CBI) has stated that its foreign reserves are sufficient to meet all demand for foreign currency, including trade financing, bank card settlements, and travellers' cash requests at the official exchange rate. According to the CBI, the recent rise in the exchange rate on local markets is attributable […]
Iraq-Turkey Deal on Transport Infrastructure Development
By John Lee. Iraq and Turkey have completed a framework draft agreement on developing transport infrastructure, with representatives of both sides signing the document on Wednesday. According to the Iraqi Ministry of Transport, the draft was finalised following a series of intensive meetings covering legal, technical, financial, and operational aspects, with participation from relevant authorities […]
New Mechanism to Automate Customs Duty Pre-Payment in Iraq
By John Lee. An implementation mechanism for the pre-collection of customs duties has been finalised under Cabinet Decision No. 413 of 2026. Minister of Finance Faleh Sari chaired a meeting on Thursday to complete the mechanism, attended by Central Bank of Iraq Governor Nizar Nasser Hussein, Director General of the General Customs Authority Dr Thamer […]
Restricted Airspace Zones Removed from Iraqi Skies
By John Lee. Iraq has closed the file on restricted airspace zones in its skies, following confirmation that military airspace areas listed in the Iraqi Aeronautical Information Publication (Iraq AIP) are no longer used for military operations. The Ministry of Transport announced the development, noting that it was achieved through a purely national decision taken […]
Iraq's WTO Accession and National Trade Strategy on Agenda
By John Lee. Iraq's Ministry of Trade has held an expanded meeting with the International Trade Centre (ITC) to discuss cooperation on WTO accession and the preparation of a national trade and investment strategy. The Ministry was represented by Ghassan Al-Mohammadi, Under-Secretary for Economic Affairs, and Malik Khalaf Al-Durai'i, Director General of the Private Sector […]
New Basra Office for Ramsis Engineering
By John Lee. Ramsis Engineering has opened a branch office in Basra, expanding its presence in Iraq's industrial and energy sectors. The Bahrain-based engineering firm said the new office will support clients and partners across manufacturing, maintenance, and specialised services. (Source: Ramsis Engineering)
Can Oil Deals Reset US-Iraqi Relations?
By Yesar Al-Maleki, for the Atlantic Council. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Can Oil Deals Reset US-Iraqi Relations? As Iraq and the United States enter a new phase in their relationship, oil is assuming a more central role. During Prime […]
Sulaymaniyah Summit Focuses on Investment and Economic Diversification
By John Lee. Iraq's President Nizar Amedi and Kurdistan Region President Nechirvan Barzani attended the Slemani Economic Summit for Investment and Development in Sulaymaniyah on Thursday. Kurdistan Regional Government Deputy Prime Minister Qubad Talabani also participated, along with officials, experts and business figures. President Amedi addressed the summit, stressing the importance of public-private partnerships in […]
World Bank discusses Automation and Financial Reform in Iraq
By John Lee. Iraq's Ministry of Finance has held talks with a World Bank delegation on financial reform, automation projects, and the development of financial management tools. The delegation was led by Dalia Khalifa, Regional Director for the Middle East, and Emmanuel Salinas, World Bank Country Director for Iraq. Finance Minister Faleh Sari said the […]
Iranian Free Zone Bets on Joint Border Hub With Iraq
From Financial Tribune. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Mehran Free Zone Bets on Joint Border Hub With Iraq The Mehran Free Zone is accelerating talks with Baghdad to create a joint commercial zone opposite Iraq's Zurbatiyah, a move officials say could […]
Petrel Resources Updates on Iraqi Prospects
By John Lee. Irish-based Petrel Resources Plc (LON: PET) has published its unaudited interim statement for the six months ended 30 June 2026. Regarding prospects in Iraq, the company said: "Petrel cannot depend indefinitely on governments making decisions in Iraq ... "Petrel has been involved in Iraq since 1997. Over the years we have accumulated a […]
Iraq and Uzbekistan Discuss Road Transport Agreement
By John Lee. Iraq and Uzbekistan have held a virtual meeting to discuss a draft bilateral agreement on the regulation of road transport of passengers and goods. According to the Ministry of Transport, the session was convened by the General Company for Land Transport, in coordination with the Ministry of Foreign Affairs. Murtada al-Shahmani, director […]