Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
By John Lee. The Companies Registration Department of Iraq's Ministry of Trade said it has successfully processed the establishment of 324 national companies and registered 27 branches of foreign companies in June. According to a statement from the Ministry's media office, Director General Rashad Khalaf Hashim reported multiple decisions made during the month related to […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani opened the Iraqi-Turkish electricity interconnector on Sunday, via a video conference. The new line connects through the Al-Kisk station west of Mosul to supply the northern region with a capacity of 300 MW. The ceremony was attended by the Minister of Electricity. Al-Sudani praised the efforts of […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Will growing Saudi investment in Iraq hit Iranian roadblock? Gulf Arab investment in Iraq has swelled in recent years, signaling a new and widening rapprochement with Baghdad. Yet, while Iran and Saudi Arabia last […]
By John Lee. The Iraqi government has given brick factories 18 months to switch from using "black oil" to liquefied gas. "Black oil" or "dark oil" is also sometimes referred to as "residual fuel oil", "bunker oil" or "heavy fuel oil (HFO)". It is a heavy, viscous byproduct of the refining process for lighter fuels […]
By Elizabeth Hagedorn for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. US renews sanctions waiver for Iraq to purchase Iranian electricity The waiver issued on July 11 permits Iraq to pay neighboring Iran for electricity imports without running afoul of […]
By John Lee. The Iraqi Ministry of Transport has announced a comprehensive plan to add more ships to its maritime fleet. Its General Company for Maritime Transport currently owns six ships: four commercial vessels, one fuel tanker, and one fresh water tanker. The Director General of the company, Chief Marine Engineer Ahmed Jassim Al-Asadi, said […]
From the United Nations: United Nations Secretary-General António Guterres has announced the appointment of Mohamed al Hassan of Oman as his new Special Representative for Iraq and Head of the United Nations Assistance Mission for Iraq (UNAMI). He succeeds Jeanine Hennis-Plasschaert of the Netherlands, to whom the Secretary-General is grateful for her commitment and leadership […]
By John Lee. Iraqi Trade Minister Athir Dawood Al-Ghurairi announced the resumption of preliminary meetings for Iraq's accession to the World Trade Organization (WTO) after a 16-year pause. The Iraqi negotiation teams have started preparatory meetings at the WTO headquarters in Geneva, preparing for the third working group meeting on Iraq's accession. According to a […]
By John Lee. Iraqi Prime Minister Mohammed Shia' Al Sudani met with a delegation of Egyptian, Saudi, and Iraqi business leaders specializing in real estate development and integrated smart cities. The delegation included Hisham Talaat Moustafa, Chairman of Egypt's Talaat Moustafa Group (TMG); Suleiman Abdul Qader Al-Muhaidib, Chairman of Saudi Arabian Al-Muhaidib Group, along Essam […]
By John Lee. Iraq's Minister of Transport, Razzaq Muhibis Al-Saadawi, announced the signing of a contract with Oliver Wyman, a consultancy firm, to provide advisory services for the Development Road project. Al-Saadawi stated that the consultancy will assist the ministry in marketing the project and overseeing investment opportunities. The contract, signed by Younis Khalid Jawad, […]
From the International Labour Organization (ILO): A holistic approach needed for reforming Iraq's pensions system in line with international labour standards A new policy note from the International Monetary Fund (IMF), International Labour Organization (ILO) and World Bank presents an overview of the key features of the comprehensive pension reforms in Iraq, including a tax-financed […]
By John Lee. The United Nations (UN) in Iraq has published its Annual Results Report 2023. The United Nations Country Team (UNCT) in Iraq, composed of 23 UN Agencies, Funds and Specialized Programmes, is dedicated to supporting Iraq's journey towards achieving the Sustainable Development Goals (SDGs). Guided by the principle of Leaving No One Behind, […]
