Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By Chris Bowers, British Consul General in Erbil. This article was originally published by Rudaw, and is re-published with permission by Iraq Business News. Imagine a visitor who arrives at Erbil International Airport. He passes a car showroom and heads to a hotel. He flicks a switch and is pleased to see the room illuminated […]
“Without a change in the law, Iraq’s insurance industry is at risk of standing still”, says CEO of AAIB Insurance Brokers. AAIB Insurance Brokers, Iraq’s leading international insurance broker, together with Marsh, the world’s largest insurance broker, hosted an Insurance Conference in Erbil, in Iraqi Kurdistan, on 27 April. The event brought together over 40 […]
More than 200 foreign companies participated in last weekend's 2nd Basra International Exhibition for General Trade. Most of the companies were Turkish, with others coming from Iraq and Germany. The exhibition, which was sponsored by the Governor of Basra, the Ministry of Trade and BIC, was attended by a number of the Iraqi officials, representatives […]
Iraq Business News' media partners at fDi Intelligence, by the Financial Times, have issued their new "Global Outlook Report 2011". The report finds that foreign direct investment projects into Iraq increased by 175% in 2010, albeit from a very low base. Iraq attracted 7% of FDI into the Middle East region in 2010, up from […]
The National Investment Commission (NIC) is getting ready to adopt the 'COMFAR' computer program to evaluate the feasibility of investment projects submitted to the commission. The commission describes it as a "digital process that is adopted in most of the developed countries". An NIC official source said that this program is prepared by the United […]
The advisor to the Iraqi Central Bank (ICB) has said that inflation jumped from 5.5% in February to 5.7% due rising electricity prices in Iraq. Muzher Mouhammed told AKnews that the high rate of inflation in Iraq is due to the March hike in electricity prices. "The rising inflation simply affects the economy but does […]
As part of the reform program announced by President of Iraqi Kurdistan, Massoud Barzani (pictured), and the Kurdistan Regional Government (KRG), all land allocations to private companies and investors have been suspended for two months, pending a new, more efficient mechanism for land allocations. This decision excludes agricultural and industrial projects, as well as projects […]
Iraqi Prime Minister Nuri al-Maliki will visit South Korea next Wednesday for talks with South Korean President Lee Myung-bak over expanding bilateral cooperation, Lee' s office said Thursday. The two leaders are expected to hold substantive discussions on mutual economic cooperation at the summit talks on April 28, as South Korea has technology and experience […]
The governorate of Salahaddin province said on Tuesday that representatives from Swedish and Turkish companies have met with senior council officials to discuss the implementation of a variety of strategic investment projects in the province. Salahaddin Governor’s first deputy, Ahmed Abdul-Jabbar al-Karim, told AKnews that the companies concerned specialize in 'economy' and construction. “The Governor […]
The Arab League announced on Wednesday that its members have agreed to postpone its summit, scheduled for May 11 in Baghdad, amid disputes over the venue and popular unrest rocking the region. Arab foreign ministers will meet on May 15 to set a new date, Egypt's state news agency MENA quoted the deputy secretary-general of […]
Renault GCC has announced that United Trading Automobile Company (UTAC), a new joint venture company formed by Mr. Khalil Abdel-Wahab Al Bunnia and partners has been appointed as the official distributor of Renault passenger cars and light commercial vehicles in Iraq. The joint venture partnership is formed from a tight triangular partnership between Al Bunnia […]
The director general of the Bashmakh border crossing in Kurdistan said the crossing will be closed down until Friday following a request by the Islamic Republic of Iran. Some Kurdish news websites reported that the border between Kurdistan and Iran will be closed due to a visit by Iranian President Mahmoud Ahmadinejad to Kurdistan. Mohammed […]
