Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
In an interview wtih Al-Monitor's Mehmet Cetingulec, Turkey’s Minister of Economy Nihat Zeybekci said said the Islamic State (IS) is now contacting individual Turkish businessmen to call them back to Iraq: Al-Monitor: The Islamic State is blocking Turkey’s exports to southern Iraq. Are you doing anything to overcome this? Zeybekci: Of our exports, 70% is […]
The United Nations Compensation Commission (UNCC), which settles the damage claims of those who suffered losses due to Iraq’s 1990 invasion of Kuwait, today made $1.19 billion (1.4 trillion Iraqi dinars) available to the Government of Kuwait. With today’s payment, the Commission has disbursed $46.7 billion, leaving approximately $5.7 billion remaining to be directed to […]
By Omar al-Jaffal for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. After the occupation of the Iraqi town of Mosul by armed groups, including the Islamic State (IS) and the Baath Party — banned by the Iraqi Constitution — prices of food increased significantly, a result […]
By Patrick M Schmidt. While the security situation in some parts of Iraq remains in flux, the north region of Kurdistan continues to attract foreign businesses as a promising location for investment. With a 12 percent growth in Gross Domestic Product (GDP) in 2012 and another 8 percent growth of GDP in 2013, Kurdistan’s economic […]
Acting Minister of Foreign Affairs Dr. Hussain al-Shahristani received on July 22, 2014 a copy of the credentials of the Ambassador of the Federal Republic of Germany's new ambassador to the Republic of Iraq, Mr. Eghard Boroza during the ceremony took place in the office of the ministry. The Minister welcomed the Ambassador, praising the […]
By Patrick M Schmidt. International cargo flights to Kurdistan were set to resume today (Tuesday) following an announcement by the central government this month in reaction to the KRGs move for independence. The resumption of flights will impact a number of Turkish, Qatari, and Emirati airlines that operate out of the KRGs two main airports […]
Kurdistan Regional Government Spokesperson Safeen Dizayee (pictured) said that yesterday a KRG delegation, headed by Deputy Prime Minister Qubad Talabani and including Minister of Natural Resources Dr. Ashti Hawrami, Minister of Finance and Economy Rebaz Muhammad, and Spokesperson Safeen Dizayee, travelled to Ankara. The delegation held meetings with senior Turkish officials, discussing the cooperation agreement […]
The KRG's Ministry of Housing and Reconstruction is currently building a dual carriageway connecting Erbil to Haji Omaran. Parts of the road, which include tunnels and bridges, do not pass through the old path known as Hamilton Road. After the project is completed, the road between Erbil and Haji Omaran will become a dual carriageway. […]
By John Lee. TruckZone General Trading has been appointed sole distributor for Renault trucks in Iraqi Kurdistan. The company, a division of CarZone Trading Agencies, is currently also the agent for Nissan throughout Iraq. From its base in Erbil it will have full facilities to handle sales, servicing and parts for the full range of […]
By John Lee. Fadi Abboud, the former head of the Lebanese industrialists association, has told The Daily Star that Lebanon’s total exports to Iraq will see a sharp decline over the coming months due to the deteriorating security situation in the country. Adding that Iraq is the fifth-largest recipient of Lebanese products, he said that […]
By John Lee. Cargo flights to and from Erbil and Sulaimanya [Slemani] have reportedly been suspended. A spokesman for Emirates SkyCargo told Lloyd’s Loading List that the airline’s freighter flights to and from Erbil “have been temporarily suspended at the request of the Iraqi Civil Aviation Authority. However, Emirates [passenger] flights are operating as per […]
Prime Minister Nechirvan Barzani yesterday received the United Kingdom’s new Consul General to the Kurdistan Region, Mr. Angus McKee. They discussed the relationship between the United Kingdom and the KRG as well as current political issues. The Prime Minister congratulated the Consul General and wished him success in his new position. Consul General McKee expressed […]
