By John Lee. Siemens Energy of Germany has been awarded two key electricity service contracts by Iraq's Council of Ministers, aimed at strengthening the country's power generation capabilities: A five-year Long-Term Service Agreement (LTSA) for two 160 MW gas turbines (GTE-160) at the Dibis [Debes, Dibs] Gas Power Plant. This contract includes continuous operational guarantees […]
By John Lee. Iraq's Ministry of Industry and Minerals has announced the signing of a strategic agreement between Iraq's State Company for Glass and Refractories and Saudi-based Ajial Company to develop the largest integrated industrial complex in the region based on silica as a core raw material. The deal was signed under the patronage of […]
By John Lee. The Central Bank of Iraq (CBI) has issued new regulations for electronic payment service providers. The 48-page document targets money laundering and terrorist financing. Click here to see the full statement from the CBI [Arabic]. (Source: CBI)
By Padraig O'Hannelly. As Donald Trump completes his first 100 days in as US President, what effect have his policies had on the Iraqi economy? Firstly, it's worth noting that the main implications of Trump's policies for Iraq have been the indirect results of decisions not directly targeted at Iraq. Increased tariffs and the resultant […]
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani chaired the regular meeting of Iraq's Higher Committee for Construction and Investment on Sunday, reviewing agenda items and proposed projects, and making key decisions. He underscored the need to simplify administrative procedures to support the investment environment and called on ministries to focus efforts on projects […]
By John Lee. The Iraqi Prime Minister inaugurated the Al-Zaytoon Baghdad / Mövenpick Hotel on Saturday, marking a partial opening of its main facilities in preparation for the upcoming Arab Summit in Baghdad. PM Mohammed S. Al-Sudani highlighted that the hotel is one of the largest private sector projects in tourism and hospitality in the […]
By John Lee. GE Vernova has announced plans to install its new AGP XPAND upgrade at the 1,250 MW Bazyan [Bazian] Power Plant in Iraqi Kurdistan, operated by Taurus Energy [Taurus Arm], part of the Onex Group. The announcement was made at a ceremony in Sulaymaniyah, attended by H.E. Qubad Talabani, Deputy Prime Minister of […]
By John Lee. Minister of Electricity Ziyad Ali Fadel held what he described as a productive meeting with representatives of ACWA Power of Saudi Arabia, one of the world's leading renewable energy companies, to finalise contracting procedures for the establishment of a 1,000-megawatt solar power plant in Najaf. The two sides agreed on a roadmap […]
By John Lee. Representatives of the Association of the Petroleum Industry of Kurdistan (APIKUR) and other international oil companies met with Iraqi and Kurdish officials on 20th April to discuss restarting oil exports via the Iraq-Türkiye Pipeline, but according to a statement from APIKUR on Sunday, no agreement was reached. The trade body said its […]
By John Lee. Iraqi Finance Minister, Mrs Taif Sami Mohammed, along with the Governor of the Central Bank of Iraq (CBI), Dr Ali Al-Alaq, participated in the Annual Spring Meetings of the World Bank and the International Monetary Fund (IMF), held in Washington from 20-23 April 2025. The discussions focused on global economic challenges, financial […]
By John Lee. Iraq's Minister of Trade, Dr Atheer Dawood Al-Ghurairi, laid the foundation stone on Thursday for a new modern grain silo in Kirkuk province, with a storage capacity of 60,000 tonnes. The project forms part of the Ministry's infrastructure development strategy to support the agricultural sector and increase national storage capacity. Speaking at […]
By John Lee. The European Bank for Reconstruction and Development (EBRD) has amended its statutes, enabling it to expand operations into sub-Saharan Africa and Iraq. According to a statement from the bank, this pivotal change redefines the Bank's geographic remit and follows approval by its Board of Governors in 2023. The amendment will formally take […]
