Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. On a recent webinar organised by the Iraq Britain Business Council (IBBC), Professor Frank Gunter of Lehigh University outlined the key changes in the dinar exchange rate over the years, as well as the consequences of having two exchange rates. (For more on the reasons why Iraq has two exchange rates, click […]
By John Lee. KRG Prime Minister Masrour Barzani has officially opened the Chamrga Dam in Erbil. The dam is 17.5 metres high, 262 metres long, and 8 metres wide. Full statement from the Kurdistan Regional Government (KRG): On Tuesday, 25 June 2024, Masrour Barzani, Prime Minister of the Kurdistan Regional Government (KRG), launched the Chamrga […]
By John Lee. Food and last-mile delivery service Alsaree3 has announced that it has successfully closed its 'Series A' capital raising round, securing an undisclosed seven-figure investment. A press release describes this funding round as particularly noteworthy due to the participation of Snoonu, which it says is Qatar's leading food delivery and e-commerce platform. It […]
By John Lee. The UK's Department for Business and Trade has said that total trade in goods and services (exports plus imports) between the UK and Iraq was £1.1 billion in the four quarters to the end of Q4 2023, an increase of 15.4% or £141 million in current prices from the four quarters to […]
By John Lee. In its latest session, the Iraqi Cabinet has approved several measures to address the electricity needs during peak summer periods and to develop the country's power infrastructure. The key decisions include: Contract with Mass Holding Company: The Ministry of Electricity has been authorized to contract with Mass Holding Company to supply electricity […]
By John Lee. Real GDP is expected to fall by 0.3 percent this year, according to the World Bank's latest Global Economic Prospects report. This represents a significant reduction on the previous forecast of 4.2 percent growth, issued in January. The report says, "oil production cuts have partly contributed to weakened activity in Iraq", adding, " projected […]
By John Lee. Iraq's Minister of Higher Education and Scientific Research has announced the launch of technological and scientific incubators in universities. Addressing the first conference on technological and scientific incubators, Dr. Naeem Abd Yaser Al-Aboudi said the initiative is a continuation of the government's support for innovation and entrepreneurship, with a view to promoting […]
By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq and China Strengthen Ties With Major Development Initiative A series of high-level meetings took place last week between senior Iraqi and Chinese officials to finalize the details of the […]
By John Lee. American engineering firm KBR has announced that it has been awarded a five-year contract, with options, to support the Iraqi government's visionary infrastructure and future energy ambitions, including the delivery of megaprojects and sustainable development. Under the terms of the $46 million contract, KBR will provide its differentiated advisory and consultancy capabilities […]
By John Lee. On a webinar organised by the Iraq Britain Business Council (IBBC) on Tuesday, Professor Frank Gunter of Lehigh University and Dr Ahmed Tabaqchali of AFC Iraq Fund (and Expert Blogger on Iraq Business News) discussed the drivers of the Iraqi dinar exchange rate. The event marks the official launch of the IBBC's […]
By John Lee. Under the patronage of Minister of Industry and Minerals, Dr. Engineer Khaled Battal Al-Najm, the ministry's Development Advisor, Qaisar Ahmed Al-Hashimi, inaugurated a copper recycling plant in Dhi Qar's General Company for Electrical Industries. This project, in partnership with a private Iraqi company, aims to produce 3,000 tons of copper rods annually. […]
From the Iraq Britain Business Council (IBBC): IBBC's 15th Anniversary Conference. Much to celebrate in Iraq as energy takes centre stage. IBBC is celebrating 15 years in Iraq at a time when Iraq is moving into a new prosperous and stable era. IBBC Spring Conference at the Mansion House on 2nd July will reflect our […]
