Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
The U.S. Agency for International Development (USAID) hosted a workshop in Erbil, in the Iraqi Kurdistan region, on May 14, 2019, to discuss USAID’s New Partnership Initiative (NPI) with 30 local and faith-based Iraqi organizations. USAID will co-create with successful applicants to award $3 million dollars by the end of this U.S. Government’s Fiscal Year […]
GE Power (NYSE: GE) has installed and commissioned a new advanced 9E gas turbine at the Iraqi Ministry of Electricity’s (MoE) Al Qudus Power Plant. The site was previously capable of generating up to 1,125 megawatts (MW) of power. With the addition of the new turbine, it can generate an additional 125 MW, which will […]
By John Lee. Contrary to recent reports that the US had granted a waiver to Iraq to allow it to continue buying power from Iran, a State Department spokeswoman reportedly said on Wednesday that this was not the case. Reuters quotes Morgan Ortagus as telling reporters that Secretary of State Mike Pompeo has not made […]
By John Lee. Israel has reportedly lifted a ban on trade with Iraq, despite the fact that the two countries do not have official relations and are technically at war. According to Middle East Monitor, citing Israeli newspaper Maariv, Finance Minister Moshe Kahlon (pictured) signed an official directive on Monday allowing trade with Iraq. Maariv […]
By Isadora Gotts for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. PMU economic offices undermine fragile stability in Mosul Escalating tensions between the United States and Iran are spilling over into Iraq as the United States orders the evacuation of all non-emergency […]
Iraq faces a tough challenge in developing its potential Writing in the Financial Times, Nick Butler argues that while the security situation across Iraq is probably better than at any time in the past three decades, success is not preordained. Click here to read the full article (subscription required)
Iraqi Foreign Minister Mohammad al-Hakim said his country would stand by the Iranian nation and government in the era of US sanctions against Tehran. Iraq stands with Iran and is willing to act as an intermediary between its neighbor and the United States, Hakim said on Saturday speaking in a press conference with his Iranian […]
Washington has exempted Baghdad from some of its unilateral sanctions against Tehran, allowing Iraq to continue importing energy from Iran, according to the US envoy to Baghdad. Baghdad can now buy energy from Iran, US charge d’affaires Joey Hood told reporters on Wednesday, Iran's Press TV reported. The waiver will allow Iraq to continue buying […]
By John Lee. The Iraq Britain Business Council (IBBC) has welcomed four new members, bringing its membership to 71 companies: Crescent Petroleum: Sharjah-based Crescent Petroleum is the only foreign oil and gas company to maintain a continuous presence in Iraq for three decades, and is the largest private oil and gas investor in the Kurdistan […]
By Joe Macaron for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Will the Trump administration abort Iran’s land bridge to the Mediterranean? As the showdown between Washington and Tehran escalates elsewhere in the Gulf, Iran is giving high priority to an […]
By Padraig O'Hannelly. Last week, the US Embassy in Baghdad ordered the departure of non-emergency U.S. Government employees from Iraq, as tension mounts between the Trump administration and neighbouring Iran. In the meantime, several other organisations have taken similar moves. While this has made headlines, has there been any real change on the ground? Iraq […]
By John Lee. Iraq's Minister for Electricity has warned of the dangers of politicising the problems in the country's electicity sector. Luay al-Khateeb told AFP: "Electricity is a national security issue ... In the end, any political, economic or security crisis in Iraq will affect the whole region -- and the global economy will be […]
