Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. A new report from the International Monetary Fund (IMF) has forecast that the Iraqi economy will contract this year due to continuing war against the Islamic State. In its October World Economic Outlook, it says that Iraq's gross domestic product (GDP) is expected to shrink by 2.66 percent this year, down from […]
Prime Minister Nechirvan Barzani yesterday met Turkey’s Prime Minister Ahmet Davutoglu in Istanbul on the sidelines of a World Economic Forum event. In the meeting both sides discussed the latest political and military developments in Iraq and the Kurdistan Region, the process of forming a new government in Iraq, the participation of the Kurdistan Region […]
By John Lee. The Governor of Thi Qar [Dhi Qar], Yehya ala-Nasiri, has told Aswat Al Iraq that Iran proposes opening an representative office in the province, to facilitate the work of Iranian companies in the area. The proposal was made following a meeting with the Iranian consul in Basra province, Hameed Reza Mukhtas Abadi. […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Dire Straits: Baghdad’s Financial Blockade Of Iraqi Kurdistan Has Desired Effect Since the beginning of the year the authorities in Baghdad and Iraqi Kurdistan have had a financial stand off. […]
Kurdistan Region President Masoud Barzani welcomed German defense minister Ursula von der Leyen in Erbil on Thursday. In a meeting with President Barzani and the military leadership of the KRG, the German defense minister stated that her country stands by the people of Kurdistan in the fight against ISIS terrorists and commended the role of […]
Prime Minister Nechirvan Barzani received Mr Frank Baker OBE on Tuesday, an old friend of the Kurds and the UK's new ambassador to Iraq. Mr Baker visited Kurdistan at the beginning of his appointment as ambassador. He expressed his pleasure to be back in Erbil and to see Prime Minister Barzani. He said that he […]
Some of Britain’s most successful businessmen and women will fly to Erbil tomorrow (September 23rd) on a Trade Mission designed to show the UK’s continuing support for the resilience of the Kurdistan region of Iraq’s infrastructure, society and economy. Organised by the Iraq Britain Business Council (IBBC), the group will spend three days meeting senior […]
By John Lee. Newly-appointed prime minister Haidar al-Abadi has called for an end to the boycott by a number of governorates of products from neighbouring countries, including Saudi Arabia. He urged those provinces to instead develop their economies through regional cooperation, particularly with neighbouring states. A number of provincial councils, including Baghdad, Basra and Najaf, […]
Prime Minister Nechirvan Barzani today received Mr Tan Banglin, envoy from China's Foreign Ministry appointed to be the first Chinese consul general in the Kurdistan Region. Mr Banglin said that he was very pleased to visit the Kurdistan Region, stating that he has arrived in the Region during this difficult time to express China’s solidarity […]
The Foreign Minister of Belarus, Mr Vladimir Makei, arrived in the Kurdistan Region yesterday to strengthen bilateral relations and sign a memorandum of understanding. Prime Minister Nechirvan Barzani, Deputy Prime Minister Qubad Talabani, and senior KRG officials received the Foreign Minister and his delegation. In the meeting, both sides exchanged views on bolstering relations and […]
Mr Miroslav Dosek, Head of Middle East and North Africa section of the World Economic Forum (WEF), visited the KRG Department of Foreign Relations to discuss economic developments in Kurdistan as well as the current security and humanitarian situation. Mr Dosek said, “The achievements and the success of the Kurdistan Region are very much lauded […]
By John Lee. BasNews reports that the unemployment rate in Kurdistan has risen from 7 percent at the end of 2013 to 10 percent currently. The number unemployed is nearly 100,ooo, of which 52 percent are men. The increase has been blamed on the general economic situation in Iraqi Kurdistan, and on the sanctions that Baghdad […]
