Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. Australian engineer Robert Pether and his Egyptian colleague Khalid Radwan have now spent 1,000 days in prison in Iraq. The pair were detained in April 2021 by authorities in Baghdad in relation to a dispute over the construction of the new Central Bank of Iraq (CBI) headquarters in Baghdad. They have been […]
By John Lee. In a meeting attended by the Spanish Prime Minister Pedro Sanchez, Iraqi Prime Minister Mohammed Shiaa Al-Sudani met with representatives from Spanish businesses and Iraqi entrepreneurs. The Spanish companies attending the meeting were: Andra Consultrans Group: A Madrid-based, "engineering, architectural, strategic consultancy and information and technology projects for the transport sector, both […]
By John Lee. Saudi Arabia's Gulf Elevators and Escalators Co. (GEEC), a subsidiary of Mayar Holding, has signed an exclusive agency agreement with Midpoint Trading and Agencies Ltd. in Iraq. According to a statement from Mayar, under the three-year agreement, Midpoint Trading and Agencies will exclusively market, sell, install, and maintain Gulf Elevators' elevator and […]
From Human Rights Watch (HRW). Any opinions expressed are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Tragedies Born of Negligence in Iraq More enforcement of safety regulations needed. Click here to read the full article.
By John Lee. The Iraqi Ministry of Planning has granted approval for the inclusion of earmarked investment projects in its 2023 budget. The projects encompass allocations such as 1 trillion dinars [$763 million] for Iraq Development Fund projects, 500 billion dinars for projects in the most impoverished provinces fund, 50 billion dinars for Sinjar and […]
By John Lee. Dr. Ahmad Anwar, Head of the Kurdistan Region's Integrity Commission (KRIC), has reported that in 2023 the commission diligently investigated a total of 1,010 corruption cases, resulting in 230 cases being forwarded to the courts. Over the past five years, a significant 897 corruption cases have been referred to special tribunals since […]
By John Lee. A team from the International Monetary Fund (IMF) has concluded a visit with Iraqi officials, concluding: Economic activity is recovering, although oil production cuts are weighing on overall growth, and at the same time inflation has declined. The large fiscal expansion in the three-year budget law poses significant risks to fiscal and […]
By John Lee. The Kurdistan Regional Government (KRG) has issued two new guides to investment in the Kurdistan Region of Iraq (KRI): Doing Business In Kurdistan Region: This guide has been prepared to provide an overview of the KRI, it's economy and way of life, and introduces the financial, legal, and tax issues that are […]
The International Organization for Migration (IOM) has provided financing to 2,424 small and medium enterprises (SMEs) across Iraq through its Enterprise Development Fund (EDF) since its initial launch in 2018, helping to create 11,217 new jobs and improve 12,980 already existing jobs for host, returnee and internally displaced communities alike. EDF is an innovative programme designed to […]
By John Lee. The Turkish Foreign Minister, Hakan Fidan, and the Deputy Prime Minister and Foreign Minister, Fuad Hussein, met in Ankara on Tuesday, accompanied by high-level security and military officials from both countries. Talks covered issues related to counterterrorism, security, and water resources, with both sides committing to continue developing relations. The meeting included […]
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani received the Ambassador of Austria to Iraq, Mr. Andrea Nasi, on Tuesday, on the occasion of assuming his duties as the country's first resident ambassador in Baghdad in thirty years. According to a statement from the Prime Minister's office, discussions covered various aspects of bilateral relations between […]
By Aram Mahmood, for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The Case of Iraq Underscores the Need of an International Anti-Corruption Court Given the inability-or unwillingness-of Iraqi institutions to adequately combat corruption, the need for […]
