Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. Iraq's Minister of Electricity, Engineer Ziyad Ali Fadel, has announced that Iraq's electrical system has reached an unprecedented production rate of 27,000 MW. A statement from the Ministry says that this is an increase of 3,000 MW on the same period last year. The minister attributed this success to the continuous support […]
By Padraig O'Hannelly. The Iraq Britain Business Council (IBBC) has awarded this year's Rasmi Al Jabri Annual Award for Excellence to Ms Hadeel A Hasan of Al Hadeel Al Hasan Law (HHL). Baroness Nicholson presented the 'Infinity Medallion' to Ms Hasan at the IBBC's Spring Conference in London's Mansion house on Tuesday, in the presence […]
By John Lee. Azerbaijan and Iraq have agreed to hold a meeting of the Azerbaijan-Iraq Business Forum in Baku in the near future. Nasir Mammadov, the Ambassador of Azerbaijan to Iraq, made the announcement following a meeting with the Chairman of the Federation of Iraqi Chambers of Commerce, Mr. Abdul Razzaq al-Zuhairi. The meeting also […]
By John Lee. The Erbil-based Engineering Association for Development & Environment (EADEORG) has won a contract with the United Nations Office for Project Services (UNOPS) for an environmental awareness campaign in Anbar and Ninewa. The contract is valued at $59,481. Founded in 2012 as a grassroots non-governmental organization (NGO), EADEORG says it was established with […]
From the Iraq Britain Business Council (IBBC): The IBBC 15th Anniversary Mansion House conference presented a range of engaging ministerial and business attendees. As Iraq's economy is expanding and diversifying, the delegates reflected this in the range of topics and debates. Baroness Nicholson and Christophe Michels welcomed everyone at this milestone time and thanked all […]
By John Lee. Iraq's Ministerial Council for Economy has approved recommendation 24172 Q, which includes the approval of the Coordinating Committee's meeting minutes. This decision exempts fertiliser contracts from the contracting methods stipulated in the Government Contracts Execution Instructions (2 of 2014) and the Federal General Budget Facilitation Instructions for 2023-2025. The exemption pertains to […]
By John Lee. On a recent webinar organised by the Iraq Britain Business Council (IBBC), Professor Frank Gunter of Lehigh University explained the causes and effects of Iraq's dual exchange rate. The three reasons why Iraq has two exchange rates are: Excessive Demand for US Dollars Internationally: There is a high demand for US dollars […]
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 […]
