Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
Prime Minister Haider al-Abadi has said that the cost of damage to Iraqi infrastructure attributable to the Islamic State group (IS, ISIS, ISIL, Daesh) has reached $35 billion. Abadi said “IS destroyed relations among social categories in Iraq, not to mention the huge humanitarian cost represented the high numbers of deaths, injuries and displaced people”. […]
By John Lee. The Ministry of Oil has extended the closing date for supplying information packs relating to the tenders for the new refineries in Kut and Samawa. The packs will be available until the close of business on 16th March 2017 (instead of Tuesday the 28th February), while the last date for receipt of […]
Commissioner for Humanitarian Aid and Crisis Management announces additional funding to assist and protect civilians in Iraq during his fifth visit to the country. The European Commission is scaling up its response to the humanitarian crisis in Iraq with a new aid package in 2017 worth €42.5 million. The funding was announced today by the […]
The Annual Report 2016 presents progress with implementation of the Funding Facility for Stabilization (FFS) between 01 January and 31 December 2016. During 2016, the United Nations Development Programme (UNDP) implemented a high impact, pragmatic approach to stabilization that improves citizen-government ties and revitalizes public trust in the Iraqi Government. FFS quadrupled in size, growing […]
By John Lee. The United Kingdom has agreed to provide up to £10 billion ($12 billion) of support to Iraq over the next 10 years through loans to infrastructure development projects under UK Export Finance (UKEF). British Ambassador Frank Baker and Iraq's Acting Minister for Finance Abdlrazaq Alissa [Abdul Razzak al-Essa] signed the Memorandum of […]
By John Lee. Prime Minister Haider Al-Abadi has received in his office the South Korea Minister of Land, Infrastructure and Transport, Kang Hoin, and his delegation, to discuss cooperation in transportation, training, energy and infrastructure. Minister Hion expressed his eagerness to support Iraq in its post-Daesh development program, adding that because South Korea has the […]
The Iraqi Red Crescent Society (IRCS) has installed water desalination stations for the displaced families in Qayarah and Erbil camps. The IRCS has reported, "the IRCS teams in Erbil center have installed water station (m40) with a capacity of 600 thousand liters to provide water for more than 40,000 displaced at Khazer and Hasan Al-Sham […]
By John Lee. Iraq has signed a $500-million agreement with Swiss-Swedish ABB to implement energy transmission projects. Prime Minister Haider al-Abadi's office said on Sunday that the agreement was signed between the company and the government of Iraq for the Ministry of Electricity. (Source: Office of the Prime Minister)
In his first trip to Baghdad as defense secretary, Jim Mattis today praised the Iraqi army for its resilience and noted the forces are now focused on liberating west Mosul. The Iraqi army has the full support of the more than 60 members in the coalition fighting the Islamic State of Iraq and Syria, Mattis […]
By John Lee. National Investment Commission (NIC) Chairman Dr. Sami Al-Araji and Iraqi Permanent Representative in the UN, Ambassador Muhammad Ali Al- Hakeem, met recently with the Italian Deputy foreign Minister, Mr. Vincenzo Amendola, at the Italian Representation Headquarter in the UN. During the meeting the two sides discussed bilateral relations and the Italian efforts […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 16th Feb 2017). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQ102 (-0.1%) / $1083 (+0.3%) (weekly change) (+11.7% and +14.3% YTD change, respectively). The number of week traded […]
The Netherlands is supporting reforms in the Kurdistan Region with a contribution to its Funding Facility for Economic Reform The Kingdom of the Netherlands is contributing nearly US$270,000 (€250,000) towards the implementation of the Economic Reform Roadmap, developed by the World Bank in cooperation with the Ministry of Planning of the Kurdistan Region of Iraq […]
