The deputy governor of the Iraqi Central Bank (ICB), Muzher Mohammed Saleh, has set a deadline for all banks in Iraq to increase their capital to at least 250bn IQD ($215m). He said: "We asked all banks in Iraq to increase their capital this month to strengthen their dealings and give more loans." According to the report […]
Qatar Airways has in the span of just two weeks expanded passenger services to Iraq with the launch of its second destination in the country – to the capital Baghdad. The Doha-based airline is operating four-flights-a-week non-stop on the Baghdad route. Located on the banks of the Tigris River, Iraq’s capital is one of the […]
A source in the Iraqi trade ministry told Reuters on Thursday that Iraq bought 100,000 tonnes of rice from Argentina, Uruguay and Thailand following a tender that closed on 10th June: 30,000 tonnes will be sourced from Argentina; 30,000 tonnes from Uruguay; and, Commodity trading firm Olam International will supply Iraq with the 40,000 tonnes […]
The director of Karbala Investment Commission, Taef Abdul Hussein, has announced that an Iranian company will shortly build a waste recycling plant 10 km south of Karbala city. According to the report from Aswat al-iraq, the $48 million plant will process glass, wood and fertilizers, and will produce electricity. As a result of religious tourism, the city […]
The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. […]
As many readers of Iraq Business News will already be aware, our sister publication, Libya Business News, has now been running for more than six months, and we are pleased to report that it's going from strength to strength. Clearly the two countries are in different stages of development, politically as well as economically, but […]
Bloomberg reports that Italy’s Consorzio Stabile Italia 2010 won a $247 million contract to build 2,000 homes in Diwaniya. The project is to be completed within three years on the southwestern side of Diwaniya city, Majid al-Mehanna, spokesman for the Diwaniya Investment Commission, told the agency on Wednesday. He added that the province needs 100,000 […]
The Iraqi Trade Ministry registered 247 local and 46 foreign companies during the month of May, reports AKnews. Director Fryal Akram said the directorate registered 43 offices of foreign companies and three branches of foreign companies. She added that the directorate checked the final accounts of 2,262 national companies for the period 2002 until 2011, […]
