Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. Iraq's Industry Ministry has invited three foreign companies to set up production facilities for agricultural tractors in Iraq. According to the report from Aswat Al Iraq, the terms of the deal would require the companies to source at least 40 percent of their parts from the state-owned Iraqi Mechanical Industries Company. The […]
Chinese Consul General Tan Banglin this week visited the KRG Department of Foreign Relations to present his credentials as his country’s first diplomat posted to Kurdistan, and to discuss areas of cooperation between both sides. Minister Falah Mustafa warmly welcomed Consul General Banglin and congratulated him on his new post, assuring him of the KRG’s […]
By John Lee. A new report from the International Monetary Fund says that Iraq's economy is expected to shrink by 2.7 percent this year as a result of the security crisis in the country. This follows a 4.2 percent growth in GDP in 2013 and 10.3 percent the previous year, and would be the first […]
By John Lee. New Zealand-owned fast food outlet BurgerFuel has reportedly suspended its operations in Iraq. The company had only one store, in the Kurdish city of Sulaymaniyah, and before the insurgency it had given its partners approval to re-locate to Baghdad, with a re-opening planned for later this year. According to TVNZ, CEO Josef […]
Throughout August 2014, Iraq Business News polled readers for their opinions on the state of Iraq. As expected, the results indicate a more challenging environment in the country over the preceding year. But while the sample size and methodology do not allow us to claim statistical significance, the results tend to show a long-term commitment […]
By John Lee. Innospec has announced the successful conclusion of a lawsuit brought against the company by Jalal Bezee Mejel Al-Gaood & Partner and Future Agencies Company Limited in connection with alleged loss of profits in Iraq. The matter had been filed in the High Court of Justice in the United Kingdom, and the judge […]
By John Lee. Latvian lingerie manufacturer New Rosme has reportedly opened its first store in Iraq, located in the city of Najaf. A spokesperson for the company said: "Although Najaf is one of the most religious cities in Iraq, where publicly exposing a woman's beauty is forbidden more than in any other part of the […]
By John Lee. Warwick International Hotels Group (WIH) has opened its portfolio new 300-room Babylon Warwick Hotel in Baghdad. The company has entered into a contract with Al Ebaa Company to manage the propertly, located on the edge of the Tigris River opposite of the USA Embassy. According to an announcement from the Groip, the hotel […]
Iraqi and British politicians will be joining senior business leaders from both countries at the Iraq Britain Business Council’s (IBBC) eighth London conference in early November. Entitled “Iraq – Accentuating the Positive”, the event is being held at the spectacular Institution for Civil Engineers building, One Great George Street, on November 5th and 6th. In light […]
By John Lee. Iran Khodro (IKCO) has reportedly announced its intention to increase production at its Iraq plant from 50 cars a day to 100. The plant, in the central Iraqi city of Iskandariya, is IKCO’s largest car plant outside Iran. According to a report from Just Auto, a drop in transportation fees and a […]
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. Money-Making Plots: Extremists Now In Real Estate Business In Mosul The Sunni Muslim extremist group that has taken over the northern city of Mosul has a new source of income: […]
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 […]
