Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. Real GDP in Iraq is expected to increase by 1.2 percent this year, according to the World Bank's latest Global Economic Prospects report. This represents a significant reduction on the previous forecast of 3.5 percent growth, issued in January. The report says: "In non-GCC oil exporters, current account balances are expected to deteriorate, mainly […]
By John Lee. As part of efforts to protect domestic industry, the Iraqi Cabinet has approved the imposition of an additional 20% customs duty on imported aluminium cans used for carbonated beverages, juices, and energy drinks. This brings the total tariff to 50% per unit of measurement, applicable to imports from all countries and origins. […]
By John Lee. Ahead of the upcoming Iraq Investment Forum scheduled for Saturday, the Iraqi Cabinet has approved a set of legal and procedural mechanisms governing the presentation and awarding of investment opportunities. The Council of Ministers issued the following decisions: Adoption of competitive evaluation criteria in cases where multiple companies apply for the same […]
By John Lee. The Iraqi Ministry of Transport has confirmed the suspension of all air traffic and the temporary closure of Iraqi airspace until further notice, citing regional security tensions and the need to safeguard civil aviation. According to a statement from the Ministry's Media Office, the General Company for Air Navigation Services began a […]
By John Lee. Prime Minister Mohammed S. Al-Sudani chaired a meeting on Wednesday to review the legal framework governing the Development Road Project and its associated initiatives. The Prime Minister received a detailed briefing from the project team on legal and technical requirements, including construction standards and operational procedures. He emphasised the need to urgently […]
By John Lee. The Iraqi private sector confronts significant obstacles that must be addressed to unlock the country's economic potential, according to Professor Frank Gunter of Lehigh University, speaking at the Iraq Britain Business Council (IBBC) Spring Conference in London recently. Professor Gunter identified four critical challenges hampering private enterprise development in Iraq: Finance: Iraqi […]
By John Lee. Hussein Afshin, Assistant to the Iranian President for Scientific and Technical Affairs and the Knowledge Economy, has reportedly proposed establishing a joint Iran-Iraq artificial intelligence (AI) centre on one of Iran's islands. Speaking during a meeting in Tehran with Ali Razzouqi, Deputy Head of the Office of the Iraqi Prime Minister, Afshin […]
By John Lee. Baghdad-based advertising firm 4 Corners Creative Agency has announced that it has been acquired in full by Al-Mathar Group, marking what it describes as, "a strategic step aimed at supporting the agency's growth and strengthening its position in both the local and regional markets." 4 Corners was founded in 2016 by Ameer […]
By John Lee. The Iraqi Securities Commission (ISC) has announced new efforts to enhance the attractiveness of the Iraq Stock Exchange (ISX), focusing on corporate governance and expanding the base of listed companies. State-run Iraqi News Agency (INA) quotes ISC board member Wadhah al-Taha as saying that the launch of a corporate governance guide marks […]
By John Lee. Iraqi Kurdistan's 'Visit Kurdistan' platform was formally launched on Tuesday. The private-sector-led initiative is focused on advancing the Kurdistan Region's tourism sector and attracting international visitors. During the event, KRG Prime Minister Masrour Barzani delivered a speech in which he emphasized that the KRG, as part of its development agenda across all […]
By John Lee. The Iraq Britain Business Council (IBBC) hosted a very informative Tech Forum on the topic of "How Tech and AI can benefit services and entrepreneurs in Iraq and internationally'", as part of its Spring Conference in London last week. The session was chaired by Ashley Goodall, and speakers included: William Page, 1001.tv […]
By John Lee. UK-based NGO Oxfam has published a new report titled, "The Private Sphere Trap -- Women and the climate crisis in Iraq." The report argues: "Women in Iraq are traditionally limited to only taking leading roles in spaces that have customarily been seen as their responsibility, such as care provision, raising children, and […]
