Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
IOM assessments highlight evolving economic needs under unprecedented impacts of COVID-19 in Iraq Necessary measures to contain the spread of COVID-19 combined with volatile oil prices and a decrease in the value of the Iraqi dinar brought an end to two years of sustained economic growth in Iraq, heavily impacting individuals and communities affected by […]
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 next Parliament will include Record Number of Women As the results from Iraq's Oct. 10 parliamentary elections trickle in, it is becoming clear that women candidates have excelled. The next 329-member Iraqi […]
By John Lee. Iranian car maker Saipa has reportedly said that its discontinued 'Pride' model is still selling well in Iraq. An official at the company said that, at $6,800, the Kia-based car is the cheapest in Iraq, and it has already sold 160,000 units in Iraq this year. According to Press TV, the car […]
By John Lee. Iraq signed an agreement to build a 525-MW solar power plant in Karbala. The project will be built by a consortium of companies led by the Norwegian Scatec, whose main shareholder is Equinor (formerly Statoil). Also involved are Egypt's Orascom and Iraq's Al-Bilal. The signing comes after recent announcements of renewable energy […]
By John Lee. Iraq's Foreign Minister, Fuad Hussein, has this week received the credentials of two new ambassadors to Baghdad: the German Ambassador to Baghdad, Mr Martin Jaeger (pictured); the Polish Ambassador to Baghdad, Mr Marcin Kubiak. (Source: MoFA)
By John Lee. Iraqi e-commerce platform Elryan.com has significantly expanded its product offering to include grocery items with the launch of its partnership with major international retailer, Carrefour. In a statement, Elryan says the partnership brings a new level of choice, convenience, and service to Elryan's more than 100,000 active customers. Products will be delivered […]
Economic recovery is slow for SMEs in Iraq during the second year of COVID-19 To measure the impact of COVID-19 on small- and medium-sized enterprises (SMEs) in Iraq, the International Organization for Migration (IOM), the Food and Agriculture Organization (FAO), and the International Trade Center (ITC) conducted a panel study of 716 SMEs, covering June […]
By John Lee. Prime Minister Mustafa Al-Kazemi attended a signing ceremony on Wednesday for the construction of five new solar power stations by Masdar (Abu Dhabi Future Energy Company). This covers the first phase of the project, covering 1,000 megawatts of power out of a planned total capacity 2,000 megawatts. The signing ceremony was attended […]
By John Lee. [Amended 7th Oct 2021 to include comment from Korek Telecom.] UAE-based Agility has announced an arbitration decision by the Lebanese Arbitration Center of the Chamber of Commerce, Industry and Agriculture of Beirut and Mount Lebanon, in the lawsuit filed by its subsidiary Iraq Telecom against the Intercontinental Bank of Lebanon (IBL) and […]
By John Lee. An Iraqi delegation has visited the German capital Berlin to discuss economic cooperation between the two countries. The visit was organised by NUMOV (Nah- und Mittelost-Verein e.V.), and attendees at the meeting included the new Ambassador of Iraq in Berlin, Mr. Lukman Faily. The Ambassador spoke to the representatives of German companies […]
By John Lee. The Kurdistan Regional Government (KRG) has recently launched what it describes as "two massive electricity projects" in Makhmour. They are the Bnar power station, built by the Girshin Company, and a 33 KV power-line at Qaraj, implemented by Palos. The projects have a combined cost of 1.742 billion dinars [$1.2 million]. (Source: […]
By John Lee. The Iraqi-Lebanese Business Conference has been held in Beirut, under the auspices of the Lebanese Minister of Industry. The meeting discussed the promotion of trade in areas such as agriculture, industry and tourism. A representative of Beirut's Chamber of Commerce, Industry and Agriculture said that the Lebanese private sector is always ready […]
