Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
ManTech International said on Monday that it won a $488 million, 11-month, contract from the U.S. Army's TACOM Contracting Center to continue providing logistics sustainment and support for the U.S. military's MRAP Family of Vehicles. The company will manage, monitor and sustain equipment operational readiness for MRAP FoVs. In addition, it will provide rapid assessment […]
AFP reports that Iraq will sharply raise tariffs in March in the first major reform of its customs regime since the US led coalition that ousted Saddam Hussein slashed duties. The new tariffs were detailed in 794 page document published by the Iraqi finance ministry's public commission of customs and will come in to effect […]
A U.S. Marine captain who last year pleaded guilty to skimming nearly $1.7 million from government contracts in Iraq was sentenced to six years in federal prison on Monday. Eric Schmidt, aged 40, of the First Marine Division, pleaded guilty in May to conspiracy to commit wire fraud and filing a false tax return with […]
Dubai-based Al Khaleej Sugar Co. is in talks to sell white, or refined, sugar to Iraq, said General Manager Cyrus Raja. “They are in dialogue with parties for buying sugar, including Al Khaleej,” Raja told Bloomberg. According to Sucden Financial, Iraq is in the process of buying 150,000 metric tons of white sugar from private […]
Basra’s port of Umm Qasr received a shipment of more than 40,000 tons of rice on Sunday. According to the head of public relations at Iraq's ports department, Anmar al-Safi, the shipment was for the Ministry of Trade. “The ship Captain Hady from the Bahamas anchored at a quay in Umm Qasr with 40,045 tons […]
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. Whenever I travel to downtown Erbil from our consulate in the northern reaches of the city, I am struck by the pace of change. Erbil, and much of the rest of […]
A spokesman for the Iraqi Ministry of Electricity said on Saturday that resolving the energy crisis that has plagued the country in recent years will cost an estimated $6bn [7.2 trillion Iraqi dinars]. Musab al-Mudaris told AKnews that the ministry has asked parliament to provide appropriate funds in the 2011 budget to resolve the shortcomings […]
Reuters reports that the chief executive of private equity group MerchantBridge and two JPMorgan executives were among seven people killed when a small plane crashed in northern Iraq. The plane went down shortly after takeoff on Friday from Sulaimaniya airport in Kurdistan. MerchantBridge CEO Basil al-Rahim and Abdallah Lahoud, a partner in the company, died […]
Iraq expects private investment in its economy to triple to $30 billion [36 trillion Iraqi dinars] this year, as energy, agriculture and housing projects accelerate now that the country has formed a new government, a senior government official said on Tuesday. Investment exceeded $10 billion last year, Salar Mohammed Ameen, vice chairman of the National […]
The Kurdistan Regional Government (KRG) signed a broad agreement with the Veneto region of Italy in Venice to strengthen political, economic, and cultural ties. The Memorandum of Understanding (MOU) was signed on behalf of Kurdistan Region’s President Masoud Barzani by his Chief of Staff Dr Fuad Hussein, and by the President of Veneto Region Luca […]
The director of economic relations in the Federal Trade ministry said on Monday that his ministry backed the World Trade Organization (WTO)’s decision to enter into a third round of negotiations over granting Iraq permanent membership. Hashem Hatem told AKnews that Iraq is working to a well-prepared plan to raise its status from observing member […]
By Lisa Knight, Creative Director & Founder of The Brand Foundation. National branding is a vital strategic activity undertaken by governments worldwide, in emerging and established nations, the impact of which goes far beyond tourism -- it has the power to dramatically alter the economic landscape and attract major foreign investment, dramatically impacting the […]
