Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. The Iraqi Cabinet has directed state institutions to give priority in their procurement to Iraqi industrial firms. A Cabinet Spokesperson said Iraqi firms would be favoured, whether in the private or public sectors. He added that this is part of a wider strategy to support Iraqi industry. (Source: Govt of Iraq)
The Iraqi Angel Investors Network (IAIN) announced its third facilitated investment into startups in Iraq. The members of the network; Amar Shubar and Jaafar Al Musawi, along with other co-inventors, have made a six figures investment into Hi-Express. In addition, the investment was partially matched by a USD 20,000 in grants from the Deutsche Gesellschaft […]
Iran's Energy Minister Reza Ardakanian stressed the need to support Iranian and Iraqi private sectors and remove the obstacles to investment in order to achieve the goal of annual trade exchange of $20 billion between the two neighbors. Delivering a speech to Iran-Iraq Economic Conference on Tuesday, Ardakanian said the main and common target of […]
By John Lee. The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated Iraqi Popular Mobilization Committee (PMC) Chairman and former National Security Advisor Falih al-Fayyadh for what it says is his connection to serious human rights abuse. In response, the Iraqi Foreign Ministry has expressed its surprise on the decision, and […]
By John Lee. The Iraqi government formally adopted its White Paper for Economic Reforms, prepared by the Crisis Cell for Financial and Fiscal Reform, in October 2020. A full English-language version of the paper can now be downloaded here. ... a summary version can be found here.
By Dr Amer K. Hirmis, Capital Business Strategies Ltd. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqi Dinar needs political support...to serve the economy! The Iraqi Dinar (IQD) was devalued by nearly 23 percent on Saturday, December 19, 2020, from its previous (official) […]
By Padraig O'Hannelly. It is with great sorrow that we report the passing of our dear friend Peter Hunt MBE. A founding member of the Iraq Britain Business Council (IBBC), Peter was well known for his knowledge and love of Iraq, its history, people and culture. He was so passionate about rebuilding the country and […]
By John Lee. Iraqi financial services company Switch has reportedly entered a strategic partnership with shopping app and cross-border e-commerce marketplace ZoodMall. According to Startup MGZN, all Switch cardholders, subject to approvals, will have instant access to three types of "buy-now-pay-later" solutions on ZoodMall's mobile-only shopping app. (Source: Startup MGZN)
Iraqi Ministry of Electricity, Schneider Electric sign MoU to upgrade of 33/11kV Electricity Distribution Network in Iraq This is a part of the French government's efforts to rebuild Iraq and upgrade its electricity distribution network Emrah Tekdemir: The experience of Schneider Electric in energy efficiency helped our engineers gain great experience to train their peers […]
By John Lee. Iran will reportedly resume gas exports to Iraq on Wednesday, following a meeting in Baghdad on Tuesday between Iranian Energy Minister Reza Ardakanian and Iraqi officials. The supply was said to have been stopped due to Iraq's arrears of more than $6 billion, but a statement from the Iraqi government claimed the […]
By John Lee. The United Nations Office for Project Services (UNOPS) has awarded four contracts for the supply and delivery of Explosive Ordnance Disposal (EOD), Night Vision Monocular and Detonator Box for UNMAS Iraq: Lot 1 - Hook and Line: NIC Instruments Ltd. Contract worth $66,551; Lot 2 - De-mining Equipment: Alfarez for General Contracts […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Erbil hotel and restaurant owners protest ban on New Year celebrations Hotel and restaurant owners in Erbil protested on Sunday against the Kurdistan Regional Government (KRG) Ministry of Interior's decision to ban New Year […]
