Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
IRAQ IS ABOUT TO OPEN ITS FIRST 5-7 STARS HOTEL IN 40+ YEARS It can be said that one of the most important reasons for the reluctance of the process of economic and social development in Iraq over the past decades is the weakness or absence of investment in both the public and private sectors. […]
IOM, Finland to support local economic recovery for women and conflict-affected populations in Iraq In the face of Iraq's deepening financial crisis, the International Organization for Migration (IOM) in Iraq and the Government of Finland launched a EUR 2,000,000 project to support displacement-affected individuals whose businesses were destroyed or severely damaged by the conflict with […]
By John Lee. Fitch Ratings has assigned the Gulf Commercial Bank (GCB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the rating reflects the bank's, "weak franchise and unstable business model, operations in the highly volatile operating environment of Iraq, a high impaired loans ratio (which is […]
KRG Prime Minister Masrour Barzani has received a delegation from the Japan International Cooperation Agency (JICA), headed by the agency's Vice President Ando Naoki. Prime Minister Barzani thanked the Japanese government and JICA for assisting the Kurdistan Regional Government (KRG) in the process of reforming and establishing a solid economic infrastructure in the Kurdistan Region […]
From The Economist. Iraq's new prime minister vows to clean up the country The puzzle for Iraq's kleptocrats was always how to spirit their stolen billions out of the country. Foreign banks have been wary of accepting large transfers from Baghdad. Taking piles of cash out by land is risky; Kurds closely watch the frontier […]
By John Lee. The Iraqi government has confirmed its commitment to maintaining the stability of the local market, by supporting the stability of the exchange rate of the dollar against the Iraqi dinar. In a statement, Prime Minister Muhammad Shia Al-Sudani said the government supports the steps of the Central Bank of Iraq (CBI) in […]
By Al Monitor staff. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi PM calls for closer ties with China During the Arab-China Summit in Riyadh, Muhammad Shia al-Sudani expressed Iraq's willingness to join the Belt and Road Initiative and expand ties and […]
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi startup Lezzoo expands with purchase of Saydo The delivery startup is one of several in the autonomous Kurdistan Region, and the autonomous government is hoping to spur more […]
The Ministry of Planning of the Kurdistan Regional Government of Iraq, in partnership with the United Nations Development Programme (UNDP) and with funding from the United States Agency for International Development (USAID) has launched a study on Micro, Small, and Medium-Enterprises (MSMEs) in Iraq. The study provides an evidence base to inform policies and strategies […]
By Hamdi Malik 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. "Sudani Is a General Manager": How Militias View Iraq's New Prime Minister Militia leaders have stated that his authority will be limited to technocratic and […]
Iraq: Staff Concluding Statement of the 2022 Article IV Consultation Mission: A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or 'mission'), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF's Articles […]
The KRG's Minister of Electricity, Kamal Mohammed, signed a contract with with "Pluto Otto Cycle company" on Monday to build a solar power station in Erbil province. The minister signed the deal with the company to set up a 25-megawatt solar power station. The project will be implemented within 90 days and will produce 25 […]
