Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
The electricity, trade, defense and interior ministries have been identified as the most corrupt of the country's ministries, the Integrity Committee in parliament. Iraq's Integrity Commission has announced that it has opened an investigation into corruption in the Iraqi Defense Ministry AKnews reports that the investigation relates to all of the department's dealings since 2003, […]
A Ukrainian-based defence manufacturer has reportedly suspended work on a contract to supply the Iraqi military with light transport planes until it receives payment for work already done under the contract. Interfax reports that state-run Antonov has a $550 million contract to supply military equipmment, including its An-32 aircraft, to Iraq, and a spokesman said […]
Three rockets were fired in the area of the Iraq-Kuwait border on Friday. Reuters quotes an Iraqi official as saying that they landed inside Iraq and were not aimed at Kuwait or the disputed Mubarak port. "The rockets targeted the (former) Bucca prison building, which is used by foreign companies," Ali al-Maliki, head of the Basra […]
Iraq’s Planning Minister, Ali Yousif al-Shakari [Ali al-Shukri], pictured, met with Rashid al-Mansouri, the Ambassador of the United Arab Emirates (UAE), to discuss joint cooperation between the two countries. Minister Shakari expressed his admiration for the UAE, according to Aswat al-Iraq. The agency quotes the Ambassador as “having expressed UAE’s readiness to expand horizons of […]
If anyone ever doubted the international nature of business in Iraq, just look at the list of nationalities represented on the list of companies pre-qualified for the country's fourth round of oil licences: Angola China Croatia Egypt France India Indonesia Italy Japan Kuwait Malaysia Netherlands Norway Pakistan Russia South Korea Thailand Turkey United Arab Emirates […]
From the beginning of 2012 the Ministry of Trade will strictly control the importation of goods into the country, says the minister. Khayrullah Hassan told AKnews that the ministry will work according to a quota system based on need, and all imports must attain its prior approval. “We will not allow businessmen to trade in […]
The President of Northern Iraq’s Kurdistan Region, Massoud Barzani, has encouraged leading German companies to invest in Kurdistan, according to Aswat al-Iraq. The President of Kurdistan Region, Massoud Barzani, met with the new German Consul-General in Iraq, Rolf Ulrich, on Tuesday to discuss strengthening relations between the two countries. The German Consul-General said that “he […]
The Deputy Chairman of Iraq’s Integrity Commission had demanded Prime Minister Nouri al-Maliki sack the Chairman of the Haj (Pilgrimage) Commission, Mohammed Taqi al-Moula, following charges of corruption. “There are documents and dossiers, being studied since over one month by the Integrity Commission, that had agreed that the said official was involved in corruption,” Ahmed […]
The Kurdistan Regional Government's representation in Washington has launched Invest in Democracy, the KRG's official 2011- 2012 investment guide which outlines the buisness opportunities and investment climate for international companies in the region. The investment guide includes forewords by President Masoud Barzani, Prime Minister Barham Salih, as well as British Foreign Secretary William Hague, US […]
CNBC recently interviewed Hussain Qaragholi, Vice President of the U.S. Iraq Business Council and Managing Partner of Phoenix Capital, about investing in Iraq: (Source:CNBC)
Iran's Deputy Commerce Minister, Hamid Safdel, said Iran has plans to increase its annual trade with Iraq from the current level of around $6 billion to $10 billion, the official IRNA news agency has reported. Speaking at a seminar titled "Opportunities in the Iraqi Market", the minister said that the Iraqi market is very competitive, […]
A company owned by the Iraqi Ministry of Industry and Minerals has announced that it will buy buy a textile production line from a Swiss company for 1.77 million Swiss francs [$2.24 million, 3 billion Iraqi dinars]. Alforat TV quotes a director of the company as saying that the company is waiting for Ministry approval […]
