Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
Iraq now has over $60 billion in foreign currency reserves as a result of the country's oil sales, according to a report from Azzaman. Mudher Saleh, a consultant with Iraq's Central Bank, said the reserves are the highest in the country’s history, and are more than enough to cover the total volume of national currency […]
An economic forum will be held in Dubai in two months time in the hope of fostering economic development in the Kurdistan Region and attractiong more investors to the booming regional economy. Shilan Khanaqa, Kurdistan Region's representative to the United Arab Emirates told AKnews that the two-day conference will be held under the auspices of […]
Iraq’s Ministry of Planning has reportedly canceled its contract with Switzerland's SGS after the company allegedly failed to respond to Iraqi authorities about what they described as “sluggish work”. SGS and Iraq signed a contract in January 2011 whereby the Swiss company provides product conformity assessment services for qualifying products allowing their importation into Iraq […]
The Arab League envoy to Iraq, Ahmed Bin Hili, said on Wednesday that Iraq is ready to host the next Arab League Summit, expected to be held in Baghdad in March. According to AKnews, Bin Hili arrived in Baghdad on 30th January to inspect the preparations for the summit, which has been postponed several times […]
Northrop Grumman Corporation (NYSE:NOC) has received a $122 million contract to install and sustain Counter-Rocket, Artillery and Mortar (C-RAM) systems at forward operating bases (FOBs) supporting Operation Enduring Freedom and the ongoing United States Mission in Iraq (USM-I). The contract includes options that, if fully exercised, would raise the potential value of the contract to […]
Iraq's Commission of Integrity (CoI) reports that it referred 4,365 cases of suspected corruption to the courts in 2011. The number of individuals accused in those cases was 5,682. The statistics, made by the Legal Office/CoI, showed the number of the distribution of these referrals is as follows: These numbers represent cases that were processed […]
Fox News reports that General Motors (GM) sold approximately 35,000 vehicles in Iraq last year. The company's Global Communications Officer, Klaus-Peter Martin, told Fox that the number was up from just 1,000 vehicles five years ago. General Motors manages the Middle East region from an office in Dubai, and markets its cars and trucks in Iraq […]
All interested international companies are invited to participate in the "Iraq Energy EXPO and Conference", April 23th – 26th, 2012 at Baghdad International Convention Center. Iraq Ministry of Oil, is urging all companies to pre-qualify to do business with ministry by participating in Iraq Energy EXPO and Conference, April 23th – 26th, 20121 at Baghdad […]
Harnessing education to empower women, Tupperware Brands today announced the creation of the Tupperware Global Links Program, a yearlong externship designed to inspire a new generation of Iraqi women entrepreneurs and, in turn, help strengthen the country's struggling economy and rebuild its middle class. Tupperware, a longtime World Economic Forum (WEF) participant, is announcing the […]
Czech aircraft company Aero Vodochody and the Czech Ministry of Defense will meet with Iraqi government and military representatives in Prague on 23-24th January with a view to landing a deal to supply 20 of its L-159 fighter planes. The manufacturer, part of the Penta group, has reportedly already received Kč 25.2 million ($1.3 million) just […]
A delegation from the Iranian Farast Group visited the Basra Investment Commission (BIC) and met its chairman, Khalaf Al-Badran. They discussed the possibility of obtaining investment opportunities in various sectors, including housing and electricity. The representative of the group, Ridha Mudhahari, said that his group includes 78 foreign and local specialized companies and that they […]
Basra Investment Commission (BIC) met a group of Irish companies to discuss ways of investing in Basra and the prospects of joint cooperation, and agreed to hold the Irish economic conference in the city. The group consists of 12 companies involved in construction, infrastructure, housing, waste recycling and communications and other disciplines. It is already […]
