By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani chaired a meeting focused on the reform of Iraq's banking sector, particularly Rafidain Bank, with representatives from Ernst & Young (EY) presenting recommendations. Key proposals included updating the bank's legal status, capital structure, and strategy to align with global banking standards. The recommendations will be submitted […]
By John Lee. Cloud infrastructure and edge computing services company EdgeNext has announced a strategic partnership with Commercis, a UK-based connectivity, cybersecurity, and innovative IT solutions provider. According to a press release, this collaboration will enable the expansion of EdgeNext's cloud delivery services throughout Iraq, "bringing transformative improvements to the country's digital landscape." It continues: […]
By Peter McMeekin, of Grain Brokers Australia, for Grain Central. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq suffers a wheat-surplus headache Historically a major wheat importer, Iraq is facing an unexpected surplus in 2024-25 after growers planted a record area on the […]
By John Lee. Iraq's Prime Minister, Mohammed Shia Al-Sudani, met with a delegation from Russian oil company Lukoil to review ongoing cooperation and projects in Iraq. The discussions focused on the company's operations in the West Qurna-2 and Eridu [Block 10] oil fields and the progress made in these developments. Al-Sudani emphasized the government's priority […]
By John Lee. The United Nations Assistance Mission for Iraq (UNAMI) has awarded two contracts relating to construction in Muthanna: Bab Al Karama for General Contracting Ltd.: AMI/24/HABITAT/CONST.LOTS #1. The contract is valued at $1,077,900. Aswar Al-Hadhaba General Trading, Contracting and Transportation Ltd: AMI/24/HABITAT/CONST.LOTS #2. The contract is valued at $1,131,450. (Source: UN)
By John Lee. The Chairman of Iraq's National Investment Commission (NIC), Dr. Haider Mohammed Makkiya, has laid the foundation stone for Iraq's tallest skyscraper, part of the Downtown Baghdad project. This iconic development will feature the capital's first high-rise tower, standing at 65 stories, along with eight additional towers. The project includes over 1,300 residential […]
By John Lee. Makers of Baghdad, an innovation hub and maker space, has produced a report exploring the impact of financial technology on economic growth, inclusion, and innovation in Iraq. Mapping the Role of FinTech in Iraq finds that the financial landscape in Iraq is undergoing a significant transformation, largely driven by the rise of […]
By John Lee. The International Organization for Migration's (IOM) Iraq Mission has issued its Annual Report 2023. Established in 2003, it has over 1,600 staff, and sub-offices across all governorates, with main offices in Baghdad, Erbil, Mosul and Basra. Click here to download the full report in English Click here to download the full report […]
By John Lee. Dubai logistics and transport company Aramex has announced a new joint venture with Abu Dhabi-based investment company ZK Holding, aimed at supporting both local and international businesses in Iraq. According to a press release from ZK Holding: Through this joint venture, Aramex will significantly expand its existing footprint in the country by […]
By John Lee. Iraq has opened a new embassy in the Irish capital, Dublin. In a separate meeting on Thursday with Irish President Michael D Higgins, Iraqi Foreign Minister Fuad Hussein called for the opening of a resident Irish Embassy in Baghdad to strengthen bilateral relations. Full statement from Iraq's Ministry of Foreign Affairs: Deputy […]
By John Lee. Iraq's Ministry of Trade announced the registration of 599 national companies and 27 branches of foreign companies during September. The Companies Registration Department, led by Rashad Khalaf Hashim, also issued several decisions, including amendments to contracts of joint-stock companies, adjustments to capital, and the merging and liquidation of companies. Additionally, 897 companies […]
By John Lee. Sulaymaniyah-based iQ Networks and Nokia have announced their collaboration to establish a new Dense Wavelength Division Multiplexing (DWDM) wholesale route from the Gulf to Europe. According to a press release: "This strategic route will provide new fiber optic paths, significantly enhancing both latency and diversity while enhancing the capacity and strengthening the […]
