Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. The Iraqi government, in collaboration with the Central Bank of Iraq (CBI), has launched a strategic initiative to modernise the country's banking sector. The reforms aim to enhance banking standards, strengthen financial resilience, and improve Iraq's integration with global financial systems. Key pillars of the initiative include: Governance and Ownership: Strengthening transparency […]
Wood reaches 500 Iraqi local nationals hiring milestone in Basra Wood has recruited its 500th Iraqi national employee, demonstrating its commitment to building a sustainable workforce to support Iraq's energy sector. Administration Assistant, Rehab Zubaid, was recruited as her experience aligned perfectly with the role requirements. Rehab said: "It is an honour to be the […]
By John Lee. The Iraqi Council of Ministers has approved the Waste-to-Energy Power Generation Project in Nahrawan, Baghdad, awarding it to the Chinese company Shanghai SUS Environment. The project will have a two-year construction period and a 25-year investment term. The National Investment Commission (NIC) will issue the investment licence and finalise the contract. The […]
By Ingrid d'Hooghe, Vera Kranenburg, and Erwin van Veen, for The Clingendael Institute. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. China in Iraq The main objective of China's engagement in Iraq is to ensure a reliable flow of oil that diversifies Beijing's imports […]
By John Lee. The United Kingdom is supporting Iraq's emergency services through a major export deal, enabling the Iraqi Ministry of Interior to purchase 62 British-made fire engines with a $31 million loan from UK Export Finance (UKEF). The units will be supplied by two companies: Emergency One, based in Ayrshire, Scotland, will supply MAN […]
By John Lee. Defense contractor Wye Oak Technology has petitioned the U.S. Supreme Court to review its long-running legal dispute with the Republic of Iraq, according to a docket filed earlier this month. The case stems from a ruling by the U.S. Court of Appeals for the District of Columbia Circuit in July 2024, overturning […]
By John Lee. Iraq and Egypt have signed multiple Memorandums of Understanding (MoUs) under the patronage of Prime Minister Mohammed S. Al-Sudani and Egyptian Prime Minister Mostafa Madbouly during the third session of the Iraq-Egypt Joint Higher Committee in Baghdad. The agreements cover a range of sectors, including: Transport - Land transport of passengers and […]
From the Iraq Britain Business Council (IBBC): IBBC hosts UK's Middle East Minister at AGM dinner in House of Lords Baroness Nicholson hosted a well-attended IBBC AGM dinner with The UK Government Under-Secretary for the Middle East Mr Hamish Falconer MP and former Foreign Secretary Mr James Cleverly MP and Dr Ahmed Khalil deputy Iraqi Ambassador, as speakers. Mr Falconer offered a wide-ranging discussion […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani chaired a high-level meeting to discuss the development of Iraq's sulphur and phosphate industries. Attendees included the Deputy Prime Minister for Energy Affairs, the Ministers of Oil, Finance, Industry and Minerals, and the Governor of the Central Bank of Iraq (CBI). The meeting focused on optimising the […]
By John Lee. Jordan's state-run Petra News Agency has said that exports to Iraq increased by 45.6 percent in the first 11 months of 2024. Jordan's exports to Iraq: 45.6% increase reaching JD 830 million [$1.2 billion]. Up JD 260 million from JD 570 million in 2023. Jordan's imports from Iraq: Slight decline to JD […]
By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, participated in the Iraq Energy 2025 Conference in Baghdad, organised by the Iraq Development Platform. During a panel discussion, the Governor highlighted the CBI's adoption of non-traditional monetary policies aimed at economic stability. He emphasised the bank's role in financing […]
By John Lee. A leading Iraqi economist has predicted that US President Donald Trump's pressure to reduce oil prices will harm the Iraqi economy, and could lead to a devaluation of the Iraqi dinar. In a post on Facebook, Dr Nabil Jaafar Al-Marsoumi, former Professor of Economics at Basra University, and member of the Advisory […]
