By John Lee. Iraq's Mass Group Holding has bought a power plant in Romania. According to a statement from the administrator, Expert Insolventa SRL, the company has bought the Mintia thermal power plant (pictured) from Complexului Energetic Hunedoara SA for 91.2 million euro ($91 million) in a public auction. Mass Global Energy Rom, a subsidiary […]
By John Lee. Iraq's General Company for the Pharmaceutical Industry and Medical Supplies has started erecting steel columns for its new factory in Samarra. The 3,000-square-meter plant will produce sterile products including ampoules, liquid vials, dental carbolates, sulfasporins and betyllactan derivatives. The project is implemented by Sarh Technology Company for General Trading, which has invested […]
By Michael Knights, for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Removing All Militias From Baghdad's International Zone Iran-backed PMF units shot first in the latest showdown, so they should hardly be the ones left in […]
By John Lee. The National Bank of Iraq (NBI) has opened its first branch in Saudi Arabia. The bank, which is a subsidiary of Jordan's Capital Bank Group, said the new branch in Riyadh will encourage and facilitate trade between Iraq and Saudi Arabia. In June 2022, Capital Bank Group took in the Saudi Public […]
From the Kurdistan Regional Government: The Kurdistan Regional Government strongly condemns the letter issued on 23 August 2022, by Iraq's State Oil Marketing Organization (SOMO) that threatens legal action against buyers and traders of crude oil produced in the Kurdistan Region. SOMO's letter is nothing more than another drip in a stream of disinformation published […]
By John Lee. Three companies have reportedly stopped operations at Kurdistan's Khor Mor gas field following rocket attacks. According to Reuters, the companies are Texas-based Exterran, and Turkish subcontractors Havatek and Biltek. The field is operated by Pearl Petroleum, a consortium led by UAE-based Dana Gas and Crescent Petroleum. More here. (Source: Reuters)
By John Lee. Iran has reportedly closed its land borders to Iraq in response to the upsurge in violence in the country. According to AFP, Iranian flights to the country have also been halted. Meanwhile, Iran's Mehr News says that while passenger travel is suspended, people are being allowed to return to their home countries, […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Deep Dive: Iraq's Sadr declares 'final retirement' as street politics escalates In Iraq, Sadrist Movement leader Muqtada Al-Sadr has announced his "final retirement" from politics. He has also reportedly gone on a "hunger […]
By John Lee. Iraqi Prime Minister Mustafa Al-Kadhimi has ordered the suspension of official working hours on Tuesday, imposing a curfew in response to protests that have led to the deaths of an estimated 20 people. The cabinet meeting planned for this week has also been deferred. Hundreds of supporters of Muqtada al-Sadr stormed government […]
By John Lee. The Kurdistan Regional Government (KRG) has launched a digitised driving licence system. In a press release this week, KRG Prime Minister Barzani is seen renewing his own driving license using the new system. Prime Minister Barzani praised the Ministry of the Interior and the company in charge of implementing the new process, […]
Building Iraq's Social Protection Floor: Joint UN paper proposes recommendations to strengthen the adequacy, coverage and equity of the social protection system in Iraq A new working paper has been developed by the United Nations in Iraq, which proposes a set of key recommendations that would contribute to strengthening the adequacy, coverage and equity of […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Will oil dispute with Baghdad shift dynamics within Iraqi Kurdistan? In Iraq, the federal government and the authorities in the Kurdistan region are locked in a serious and multipronged dispute over the country's […]
