Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. Iraq’s Cabinet has agreed to allocate $500 million to resolve the long-running dispute with Kuwait over the debts of Iraqi Airways, according to Bloomberg. The Cabinet asked parliament to approve the allocation of $300 million from the 2012 budget and another $200 million in 2013, , State Minister Ali al-Dabbagh said on […]
By John Lee. Hilton Worldwide has announced expansion plans in Iraqi Kurdistan with the signing of a management agreement with the Mihtab Group to develop the first Hilton Hotels & Resorts property in the rapidly growing city of Erbil. The 300-room Hilton Erbil Hotel & Spa, which is expected to open in 2016, will be the […]
Truck maker Scania has acquired a majority stake in its Iraqi distribution company. Through this investment, Scania is building further on its strong brand in Iraq. In the early 1980s, Iraq was one of Scania’s largest markets. Since 1961, 35,000 vehicles have been delivered. Combined with significant imports of used vehicles in recent years, approximately […]
By John Lee. The KRG's Minister of Electricity, Yaseen Shekh Abubakir [Yassen Shekh Abubakir Mawati, Yasin Sheikh Abu Bakir Muhammad Mawati] (pictured), recently welcomed a delegation headed by Polish Ambassador to Iraq, Stanislaw Smolen, who said that Polish companies are ready to invest in the Kurdistan Region. At the meeting both sides discussed increasing investment […]
By John Lee. The former Prime Minister of Iraqi Kurdistan, Barham Salih (pictured), has called for the establishment of a joint Iranian-Kurdish industrial company. According to a report from IRNA, Salih, who is the deputy secretary general of the Patriotic Union of Kurdistan (PUK), called for the participation of Iran in establishing an "economic and […]
By John Lee. The KRG's Ministry of Trade and Industry jointly has opened a Project Development Center in Ministry's headquarters. The center, established with the United Nations Assistance Mission for Iraq (UNAMI), is the first of its kind in the Kurdistan Region. According to a report from AKnews, Trade Minister Sinan Chalabi (pictured) said the […]
By John Lee. The KRG's Ministry of Agriculture and Water Resources has decided to ban the importation of fruit and vegetables for a period of five months, reports AKnews. Marketing Director Nouri Ismael told the news agency: "The importation of apples will be banned from August 1 to October 30; pomegranates from August 15 to […]
By John Lee. Syrian rebels have taken control of one of the country's key border crossings with Iraq, but Syria's neighbour has sealed off its end of the crossing and is not allowing refugees to pass through. Iraq has sent an army division to guard the border post, as the war-weary country grows increasingly concerned […]
By John Lee. Reuters reports that a California court has ruled Iraq not liable for the end of two oil-for-food contracts dating from the Saddam Hussein regime. In a divided ruling, the 9th U.S. Circuit Court of Appeals in California said Iraq's current government deserves protection under the Foreign Sovereign Immunities Act of 1976 because […]
As part a major effort to boost its presence in Iraq, the Iraq Britain Business Council (IBBC) has opened its first office in Basrah. Later this year the Council will open another in Erbil, then Baghdad. Speaking at the opening ceremony in Basrah the IBBC's Executive Chairman Baroness Nicholson of Winterbourne said: "I am delighted […]
By John Lee. A glass factory in Anbar has resumed production after a break of 10 years. AKnews reports that factory manager Fadhil Ahmed said the factory’s production line is now fully functioning with the help of the Ministry of Industry using local expertise. “The factory is now capable of producing high quality products like […]
By John Lee. Northern Ireland's Enterprise Minister, Arlene Foster (pictured), has today signed a Memorandum of Understanding (MOU) with the Kurdistan Regional Government, which will strengthen trade links and define areas of co-operation between the two regions. The MOU is the result of the Minister’s visit to Kurdistan in October 2011 when she met with […]
