Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
Iraq stands up for the environment at COP 27, UN climate change conference More than 200 Iraqis representing government, youth and civil society are participating in COP27, the 27th annual United Nations Conference on Climate Change, organized by the United Nations in Sharm El-Sheikh, Egypt. Climate change is a reality in Iraq, and a priority for […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. New Iraqi PM focuses on corruption, economic reforms as allies push for positions Outlining his policy program, new Iraqi Prime Minister Mohammad Shia' Al-Sudani says his government will prioritize "fighting corruption" and "economic […]
Korea reaffirms its commitment to stabilization in Iraq with a new contribution The Republic of Korea has made a new contribution of US$450,000 to the United Nations Development Programme (UNDP) Iraq's Funding Facility for Stabilization (FFS), which supports stabilization, durable solutions, and the safe return of internally displaced Iraqis in the five governorates liberated from […]
Orderii, a cross-border e-commerce platform closed a 6-figure pre-seed round in October 2022. The platform provides logistics services for sought-after goods only available on foreign sites. Founder and CEO of Orderii, Shakir Ayad Al Jammas (pictured below), commented: "We have been serving the Iraqi customer for several years now, enabling them to purchase products from […]
Secretary of State Antony J. Blinken (pictured) spoke [on Thursday] with Iraqi Prime Minister Mohammed Shia al-Sudani to congratulate him on the October 27 formation of an Iraqi government. The Secretary conveyed that the United States is eager to work with the government and people of Iraq to improve respect for human rights, increase economic […]
By John Lee. Iraqi Prime Minister has reportedly told a press conference that his government intends to increase the value of the Iraqi dinar (IQD) against the US dollar. Kurdistan24 quotes Mohammed Shia al-Sudani as saying that the interests of the needy were not taken into consideration when the currency was devalued by approximately 20 […]
By Basima Abdulrahman, Rania Baker and Ahmed Tabaqchali, for the Institute of Regional and International Studies (IRIS) at the American University of Iraq, Sulaimani (AUIS). The opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Economic Review: KRG's Financial Conundrum | Iraq's Real Estate Boom […]
By John Lee. Qatar-based cloud, connectivity and content enabler Gulf Bridge International (GBI) has reportedly updated the 'North Route' of its subsea cable meshed smart network, connecting the Gulf to Europe through Iraq. According to Zawya, this improves route diversification and enhances the resilience of internet connectivity to and from the region. It says it […]
By John Lee. The Abu Dhabi Exports Office (ADEX) has reportedly signed a line-of-credit agreement worth AED36.7 million (US$10 million) with the National Bank of Iraq (NBI). According to WAM, the financing agreement was signed virtually by Khalil Al Mansouri, Acting Director-General of ADEX, and Ayman Abu Dhaim, CEO of the National Bank of Iraq. […]
By John Lee. Mobile phone service Asiacell has reported a drop in revenues and EBITDA. In its financial results for the nine months ended 30 September 2022, parent company Ooredoo said: "Asiacell reported revenue of QAR 2.7 billion, a decrease of 2%, due to the ongoing intense competition in Iraq. "Asiacell's EBITDA dropped by 7% […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's unemployment crisis puts spotlight on foreign workers Iraq has a major unemployment problem. For the past decade, official unemployment rates have seen a continuous rise, reaching 14.2% in 2021. The lack of […]
By John Lee. Sulaymaniyah-based internet provider iQ has launched its new Silk Route Transit fibre-optic service. According to a press release, the new service will, "improve connectivity in the Middle East to the rest of the world ... [and] provide better latency and heighten download speeds across the continent to enable unprecedented streaming and gaming […]
