Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. According to a report from the International Monetary Fund (IMF), the external outlook for Iraq has worsened since the latest Article IV consultation assessment (May-June), mainly owing to a further weakening of global oil prices. The analysis finds: "Lower capital spending on the back of falling oil revenue is expected to contract […]
The Iraq Britain Business Council (IBBC) in conjunction with the Federation of Chambers of Commerce in the Kurdistan Region of Iraq are hosting a one-day London Business Forum to exchange information on business opportunities in Kurdistan and the United Kingdom. The event will be held on the 20th January 2016 at The English-Speaking Union, Dartmouth […]
By John Lee. Four new border crossings are planned to be opened between Iraq and Turkey. The new posts at Gülyazı, Aktepe, Ovaköy and Üzümlü are intended to relieve the pressure on the Habur border crossing (pictured), which was recently closed for security reasons, and which has just been reopened on a limited basis. Annual […]
The World Bank expects the Iraqi economy to grow 3.1 percent in 2016, according its flagship "Global Economic Prospects" report released yesterday. This follows an estimated growth of 0.5 percent last year, driven by increased oil production. Growth rates of 7.1 percent and 6.5 percent are predicted for 2017 and 2018 respectively. These figures are […]
Dubai-based Redtag, the value fashion and home lifestyle brand, has announced that it plans to open 20 more stores in the MENA region in 2016 including in Saudi Arabia, Oman, Egypt, Iraq, and Uzbekistan. Out of a total of the brand’s over 170 stores across the Middle East, 101 are currently in Saudi Arabia, with […]
By John Lee. The Habur border crossing between Iraq and Turkey has reopened on a limited basis on Tuesday, but with only 1,250 vehicles being allowed to through each day, according to Today's Zaman. Turkey had closed the crossing on 14th December due to ongoing clashes between Turkish security forces and the Kurdistan Workers' Party […]
Erbil, Kurdistan Region, Iraq (cabinet.gov.krd) - In a ceremony held yesterday, Italy's Consulate opened in Erbil, which was attended by the President of Italian Senate, Mr. Pietro Grasso and his accompanying delegation, Prime Minister Nechirvan Barzani, Deputy Speaker of the Kurdistan Parliament and a number of Kurdistan Regional Government ministers and officials. In his speech, Prime […]
Prime Minister Nechirvan Barzani yesterday received the Lebanese Embassy Charge d’Affaires in Iraq, Mr. Walid Al-Ghossaini.Mr. Walid Al-Ghossaini said that his country intends to open a representation office in the Kurdistan Region capital Erbil, in a near future, to raise it later to the level of consulate. Mr. Al-Ghossaini discussed the current situation in the […]
From RT News. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Russian intelligence has spotted up to 12,000 tankers and trucks on the Turkish-Iraqi border, the General Staff of Russia’s armed forces has reported. “The [aerial] imagery was made in the vicinity of Zakho […]
By Simon Kent. Biologists at the University of Basra have produced lab grown date palms which they say can better endure disease and problems of salinity and climate change which have decimated a once thriving date industry. Iraq used to produce over a million tons of dates a year, until war and other adverse conditions […]
By Simon Kent. For the first time since 1972, Baghdad has held its first beauty pageant for the title of "Miss Iraq." The winner, Shaymaa Abdelrahman, a 20 year old from the contested city of Kirkuk, said that she would use her new found public profile to launch education initiatives for children displaced by fighting in […]
Minister Falah Mustafa today received representatives of over 25 U.S companies, led by the U.S-Kurdistan Business Council (USKBC), to discuss areas of potential investment for U.S companies in the Kurdistan Region. In a meeting attended by Bayan Rahman, KRG Representative to the U.S, Minister Mustafa thanked the USKBC for bringing such a high level business […]
