Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. Saudi Arabi'a Arab National Bank (ANB) has announced an investment of $38.2 million to create Arab Bank Iraq. ANB will have a 20-percent stake in the new bank. The full statement from ANB is as follows: Arab National Bank announces the approval of the Board of Directors on 14/5/2023 after obtaining the […]
From the Iraq Britain Business Council (IBBC): IBBC and dignitaries attend first UK-Iraq trade fair at new Al Burhan conference centre. The new Al Burhan conference centre was the venue for the first UK-Iraq Trade fair. Attended by dignitaries including the Ex Prime Minister Mr Haider Al Abadi, senior aviation advisor to the Prime Minster […]
By John Lee. The Prime Minister Mr. Mohammed S. Al-Sudani has received the President of the US-Iraqi Business Council, and the Vice President of the American Chamber of Commerce for Middle East Affairs, Mr. Steve Lutes. The meeting covered various topics including economic, financial, and health cooperation, as well as energy and environmental partnerships between […]
By John Lee. The Governor of Central Bank of Iraq (CBI), Dr. Ali Mohsen Al-Alaq, has met with a delegation of experts from the International Finance Corporation (IFC), affiliated with the World Bank, led by Mr. Marcel Rashid. The meeting focused on enhancing the relationship between the Central Bank of Iraq and the IFC, and […]
By John Lee. FAT (Fresh. Authentic. Tasty.) Brands, parent company of Fatburger, Buffalo's Express, Great American Cookies, Marble Slab Creamery, and 13 other restaurant concepts, has announced a new development deal to open 22 new franchised locations in Iraq. In partnership with Global Vita USA LLC, 12 co-branded Fatburger and Buffalo's Express locations will open […]
Hackasuly, the Sulaymaniya-based hackathon, is returning. From 22nd to 24th June, the event will be part of the city's Bit Festival. It aims to bring the coding community together over a weekend to work in teams and turn their ideas into technological solutions. Prizes will be awarded in three categories: Software Engineering AI and Data […]
By John Lee. Erbil-based start-up Midient has reportedly received a "pre-seed round" investment of $115,000 from regional accelerator Flat6Labs for its loyalty program product Kurdivia. According to Iraqi Innovators, the company was co-founded by Ahmed Jamal, Mohammed Shahoyi, and Omer Sabah. It was also picked for a $10,000 pilot investment by Canadian venture fund Loyal […]
By John Lee. The President of Iraq, Abdullatif Jamal Rashid met with Paris's Mayor, Anne Hidalgo alongside her delegation, at Al-Salam Palace in Baghdad. The French Ambassador to Iraq, Mr. Eric Chevalier attended the meeting. Iraq had experienced complex circumstances for a long time, wars and violence and the country's resources have been harnessed to […]
The Zet International Gate between the Kurdistan Region and Turkey, located in the Soran administration, officially opened on Wednesday. The crossing is open daily between 8am and 8pm. Construction of the new crossing started in 2021, and it is now welcoming tourist travellers. It will open for commercial transport in a second stage. The Supervisor […]
On Tuesday, Rebar Ahmad, the Kurdistan Regional Government's Minister of Interior, welcomed the KRG's Financial Action Taskforce for money laundering and terrorist financing. The taskforce includes representatives from 15 other organisations in the region and operates in accordance with international standards. Minister Ahmad praised the taskforce's efforts and emphasised the government's transparent policies for combating […]
By John Lee. Zain Iraq's Q1 2023 revenue increased by 15 percent to reach USD 223 million and EBITDA recorded was USD 76 million, reflecting an EBITDA margin of 34 percent, according to the company's results statement for the period. The operation reported eight-fold increase in net profit of USD 30 million for Q1 2023 […]
By Ahmed Tabaqchali, Chief Strategist of Asia Frontier Capital (AFC) Iraq Fund, for the London School of Economics (LSE) Middle East Centre. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Debt and the Ides of March: An Overview of Iraq's 2023 Federal Budget Proposal* […]
