Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
By John Lee. The Iraqi government is reportedly considering the sale of more than 600,000 state-owned properties, including around 1,000 that formerly belonged to Saddam Hussein. The sale could potentially yield $150 billion, helping to bolster the country's finances as it struggles to cope with lower oil prices. But according to a report from The […]
By John Lee. Transparency International has said that Iraq has risen slightly in its global Corruption Perceptions Index (CPI). From at total of 167 countries, Iraq came in at number 161, slightly better than last year’s position of 170 out of 175 countries, and tying with Libya. This result puts it ahead of countries such […]
By John Lee. Newmark Security, which describes itself as "a leading provider of electronic and physical security systems", has reported a sale of ballistic doors in Iraq. In its interim results for the six months ended 31 October 2015, announced on Thursday morning, the UK-based company stated: "We invoiced £307,000 in the period for 25 […]
By John Lee. Iraq has reportedly agreed a $328.8 million deal with General Electric. Electricity Ministry spokesman Musab al-Mudaris told Reuters that GE will provide equipment and maintenance for 10 power plants across the country, boosting capacity by 1,000 megawatts (MW). He added that Baghdad will pay GE in instalments over three years, starting in […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 25 banks and 22 remittance companies took part in its currency auction on Tuesday. A total of $157,930,094 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
The Kingdom of Norway has contributed an additional US$2.8 million to UNDP’s Funding Facility for Immediate Stabilization (FFIS), which finances fast-track initiatives in areas liberated from the Islamic State of Iraq and the Levant (ISIL). This is the second contribution from the Kingdom of Norway in recent months, and will be dedicated to restoring livelihoods […]
U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported on Monday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, fighter and […]
The National Investment Commission (NIC) has announced two new investment opportunities: Hotel, residences and offices in Basra Development at Aljawadain Holy Shrine
The Czech Republic has contributed US$200,000 to UNDP’s Funding Facility for Immediate Stabilization (FFIS) which channels fast-track support to help rehabilitate civic infrastructure, kick-start local economies, boost government capacity and promote community reconciliation. UNDP Resident Representative and UN Resident and Humanitarian Coordinator for Iraq, Ms. Lise Grande said: “The generous contribution from the Czech Republic comes at a […]
As a necessary step after the liberation of Shingal district mid November 2015, the Ministry of Interior of the Kurdistan Regional Government (KRG), Joint Crisis Coordination Centre (JCC) has conducted a rapid damage assessment on the early recovery needs for the town of Shingal. On the 13th of November 2015, the Peshmerga forces, supported by […]
By John Lee. The United States has sent technical experts to assess the structural integrity of Mosul Dam, amid fears that it is in danger of collapse. State Department spokesman John Kirby told a press briefing on Monday: "... we continue to support Iraqi-led efforts to help take measures to repair the dam to prevent […]
By Mustafa al-Kadhimi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The year 2015 saw the liberation of several areas of Salahuddin (Tikrit) and Anbar (Ramadi - pictured) provinces from the grasp of the Islamic State with operations toward that end ongoing. Yet, to date […]
