Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. Iraq has reportedly confirmed that it will open new production facilities for the manufacture of weapons and light munitions, and even the assembly of combat aircraft. The Director of the Defence Industries Commission, Mohamed Sahib Al-Daraji (pictured), told the state-controlled Iraqi News Agency (INA), that: "Iraq has concluded memoranda of understanding with […]
By C. Anthony Pfaff, Ben Connable, and Masoud Mostajabi, for the Atlantic Council. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq: Implementing a way forward A new report, Iraq: Implementing a Way Forward, authored by Atlantic Council staff and fellows C. Anthony […]
UNICEF receives USD $1,4 million from the Government of Canada to support young people's transition to entrepreneurship and employment in Iraq The Government of Canada has contributed USD$1.4 million to UNICEF to support close to 1,500 young people in Iraq to generate educational and economic opportunities for inclusive development and participation for a 2-year period. […]
By Ayser Jabbar for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq grapples with rising food costs as a result of Ukraine war Ripple effects from the Russian invasion of Ukraine are driving the Iraqi government to allot additional funds […]
By Fehim Tastekin for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Turkey may 'lock' borders with Syria and Iraq to deal with Kurdish militants There is speculation about a secret deal between Ankara and Baghdad eyeing a contiguous, 30-kilometer-deep buffer […]
By John Lee. According to the recently-published World Economic Outlook from the International Monetary Fund (IMF), Iraq's economy is forecast to grow by 9.5 percent this year, giving it the fastest real GDP growth of all the Middle East and Central Asia countries. The 2023 expectation of 5.7 percent is just one percentage point behind […]
By John Lee. Mobile phone service Asiacell has reported a healthy increase in its customer base and revenue. In its financial results for the quarter ended 31 March 2022, parent company Ooredoo said: "Asiacell reported revenue of QAR 883 million during Q1 2022, an increase of 4%, compared to QAR 852 million in Q1 2021, […]
Orange Corners Innovation Fund signs an MoU with the National Bank of Iraq (NBI) to launch the Orange Corners Innovation Fund (OCIF) program in Baghdad KAPITA, a leading private sector development company, has signed a Memorandum of Understanding with the National Bank of Iraq (NBI) to launch the Orange Corner Innovation Fund (OCIF) in Baghdad. […]
By John Lee. The Iraqi Government has confirmed that the Eid al-Fitr holiday will begin on Sunday 1st May, and end on Thursday 5th May. Official working hours will resume in all government institutions on Sunday 8th May. (Source: General Secretariat for the Council of Ministers)
By John Lee. High-level diplomatic efforts have reportedly been stepped up in the hope of securing the release two foreign businessmen held in an Iraqi jail. Australian citizen Robert Pether and his Egyptian colleague Khalid Radwan have been detained since April 2021. They have been sentenced to five years in prison and jointly fined $12 […]
By John Lee. The Station Foundation for Entrepreneurship has opened its fourth branch in Erbil, According to a press release from The Station, the opening marks a significant step forward in ensuring that Kurdistan's youth can contribute to the ecosystem's enhancement and build a connected network of entrepreneurs, creatives, and innovators who can reach across […]
By John Lee. Zain Iraq's Q1 2022 revenue increased by 5 percent to reach USD 194 million, according to the company's results statement for the first three months of the year. EBITDA grew by 8 percent to USD 81 million, reflecting an EBITDA margin of 42%. The operation reported a net profit of USD 3 […]
