Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. A ride-hailing app that was launched in Baghdad last month has reportedly closed the largest seed round in the tech history of Iraq. According to Wamda, Baly is backed by Germany's Rocket internet, and raised $10.5 million from Kingsway Capital, MSA Capital, Global Founders Capital, Vostok Ventures, Majid Al Futtaim and March […]
The United Nations Development Programme (UNDP) in Iraq welcomes a EUR 5 million (US$ 5.63 million) contribution from Government of the Kingdom of the Netherlands to UNDP's Funding Facility for Stabilization (FFS), which finances fast-track initiatives to stabilize areas liberated from the Islamic State of Iraq and the Levant (ISIL). This new commitment brings the […]
By John Lee. Iraq and Saudi Arabia have signed a memorandum of understanding (MoU) to link their power grids. It was signed by Saudi Arabia's Minister of Energy, Prince Abdulaziz bin Salman, and Iraq's Minister of Electricity, Adel Karim. The Secretary-General of Iraq's Council of Ministers, Dr. Hamid Naim Al-Ghazi [Hamed Al Gazi], called on […]
An Iraqi team called "Spirit and Opportunity" is reportedly in the final of Huawei's Tech4Good Global competition. The entry uses unmanned aerial vehicles (UAVs, or drones) to monitor air pollution. A video of the presentation can be viewed below: (Sources: ITP, YouTube)
By John Lee. The Kurdistan Development Corporation (KDC) has bought the majority shareholding of Erbil-based KREDCO Real Estate Limited Company. KREDCO has previously been described as a joint venture between the KDC and the Kuwait-based National Real Estate Company (NREC). According to a disclosure to the Kuwaiti stock exchange, NREC said it sold its 51-percent […]
The United Nations World Food Programme (WFP) and Kurdistan Regional Statistics Office (KRSO) signed a new agreement on research into food security, to support informed decision-making on efforts to support vulnerable families in the Kurdistan Region. An important element of the partnership is training, and helping strengthen the skills and expertise of KRSO staff in […]
Five One Invest has announced its upcoming webinar - The State of Investments in Iraq. The session will host Laura Khudairi from Iraq Tech Ventures and Geoffrey Batt from Euphrates Ventures. It will tackle the startup landscape, investment opportunities, and investor activity in Iraq. Wednesday, January 26th, 2022 at 4 pm (Iraqi time) Click here to register
People who have been forced to leave everything behind are among the most vulnerable in the world, and the situation is only getting worse, with the added emergency of the on-going COVID-19 pandemic. Many refugees have suffered tremendously due to the crisis, and UNHCR reports an urgent need to assist. In response, H&M has donated clothing to displaced communities in Iraq, to help families keep warm during the cold […]
By John Lee. Tehran and Baghdad have reportedly signed a memorandum of understanding (MoU) to establish a joint arbitration center. The head of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq al-Zuhairi, is quoted as saying that the MoU can remove the obstacles that hinder cooperation between the two countries. The agreement was finalised […]
From the Iraq Britain Business Council (IBBC): Professor Frank Gunter of Lehigh University gave a webinar on the recently published 2nd edition of his book -- 'The political economy of Iraq, restoring balance in a post-conflict Society' -- interviewed by Lizzie Porter, Senior correspondent at Iraq Oil Report, for the IBBC. In a wide-ranging talk, […]
By John Lee. The Sulaimanyah-based Royal Can Making Company is reportedly planning to set up a container glass factory in the south of Baghdad. According to Glass International, the new Al Malakeya Glass Company will have a capacity of 1150 tons per day when completed in August 2024. Engineering Procurement and Construction (EPC) management will […]
By John Lee. As part of its efforts to switch to clean and renewable energy, Iraq's Ministry of Oil has said it is working with Siemens to produce hydrogen. The German company will provide advanced technologies and equipment for the project, and set up workshops to support the initiative. The first of these workshops was […]
