Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
IBBC signs Memorandum of Understanding with the German Liaison Office for Commerce & Industry The Iraq Britain Business Council (IBBC) and the German Liaison Office for Industry and Commerce in Iraq (DWI) have signed a Memorandum of Understanding (MoU) to increase cooperation between the organisations to support and grow trade between the UK, Europe and […]
High-ranking officials from Iran and Iraq on Friday signed two memorandums of understanding (MoUs) and a contract to boost cooperation between the two countries in the electricity industry. At the end of his three-day visit to Iran, Iraqi Minister of Electricity Luay al-Khatteeb signed two MoUs and a contract on the electric industry with Iranian […]
By John Lee. UAE-based Rotana Hotels has signed a hotel management agreement with Al Ibaa Company to operate a five-star property in Baghdad. Effective 1 February 2019, Rotana will operate the city’s famed Babylon Hotel under its new brand name Babylon Rotana Baghdad. With a prime location next to the high-security Green Zone, close to […]
Governor of the Central Bank of Iran (CBI) Abdonnaser Hemmati said Iraqi Prime Minister Adil Abdul-Mahdi has voiced “his firm support” for the banking deal reached between the two countries on Tuesday night and called for its rapid implementation. "After a long and four-hour meeting last night with the governor of the Central Bank of […]
Governors of the central banks of Iran and Iraq signed an agreement to develop a payment mechanism aimed at facilitating banking ties between the two neighboring countries. The deal on the payment mechanism was signed in a meeting between Iran’s Abdolnaser Hemmati and Iraq’s Ali Mohsen al-Allaq in Baghdad on Tuesday night. Speaking at the […]
By John Lee. Transparency International has said that Iraq's ranking has risen one place in its global Corruption Perceptions Index (CPI). From a total of 180 countries, Iraq came in at number 168; last year’s position was 169 out of 180 countries. This result puts it on equal ranking with Venezuela, behind countries such as […]
By John Lee. Turkey will reportedly provide around $5 billion in loans for the reconstruction of Iraq. According to Anadolu Agency, Foreign Minister Mevlut Cavusoglu (pictured) told a meeting in Istanbul on Sunday: “We will provide $5 billion credit ... We have already begun coordination of these works for the reconstruction of Iraq,” (Source: Anadolu Agency)
By Bruce Riedel, Brookings Institution. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. What Iran's Revolution meant for Iraq The collapse of the shah's government in Iran in early 1979 impacted the entire world but no country was more affected than Iraq. Saddam Hussein's […]
By John Lee. Russian Foreign Minister Sergey Lavrov has said that Moscow is very interested in increasing trade, economic and investment ties with Iraq. Following a meeting on Wednesday with Iraqi Foreign Minister Mohamed Ali Alhakim, he said: "In the field of investment, especially in the hydrocarbon sector, there is a very good result. Lukoil, […]
By John Lee. The Jordan Furniture Exporters and Manufacturers Association (JFEMA) has reportedly signed a memorandum of understanding to carry out furnishing and interior works projects in Iraq, with an estimated total value of $40 million. According to the Jordan Times, the work will include a project to furnish the largest commercial mall in Baghdad, […]
By John Lee. Iraq has been ranked last out of 153 countries in this year's Good Country Index, placing it just behind Libya and Yemen. Iran was ranked 138th. The idea of the Good Country Index to measure what each country on earth contributes to the common good of humanity, and what it takes away, […]
UK Export Finance (UKEF) has announced it will support UK firms with US $1.02 billion to build two new power stations in Iraq and support the restoration of a number of electricity substations in the country. US $1.02 billion in support for UK firms to build two new power stations Agreement will help build and […]
