By John Lee. Iraq and Iran are to launch a fund to finance joint ventures between the two countries. In his closing remarks to the Iran-Iraq Economic Conference on Wednesday, Iran's Minister of Energy Reza Ardakanian said "The proposal to establish a joint venture fund to support the private sector of the two countries was […]
Archive | Investment
Iraq Business News brings you the latest news of investments in Iraq, highlighting the many opportunities that exist.
Startup announces Funding through Iraqi Angel Investors Network
The Iraqi Angel Investors Network (IAIN) announced its third facilitated investment into startups in Iraq. The members of the network; Amar Shubar and Jaafar Al Musawi, along with other co-inventors, have made a six figures investment into Hi-Express. In addition, the investment was partially matched by a USD 20,000 in grants from the Deutsche Gesellschaft […]
Tags: Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), Entrepreneurship, germany, Hi-Express, Iraqi Angel Investors Network (IAIN), KAPITA, Management Partners, shub, start-ups
English-language version of White Paper on Iraqi Reforms
By John Lee. The Iraqi government formally adopted its White Paper for Economic Reforms, prepared by the Crisis Cell for Financial and Fiscal Reform, in October 2020. A full English-language version of the paper can now be downloaded here. ... a summary version can be found here.
Market Review: "Stock Market Rallies on Currency Devaluation"
By Editor on 6th January 2021 in Ahmed Tabaqchali, Investment, Iraq Banking & Finance News, Politics
By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Market Review: "Stock Market Rallies on Currency Devaluation" For Iraq and its equity market the year ended the same way it began, with a bang […]
Tags: Ahmed Tabaqchali, American University of Iraq Sulaimani (AUIS), Asia Frontier Capital (AFC), Central Bank of Iraq (CBI), Christians, devaluation, dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, IQD, Iraqi Dinar News, mn, re-denomination, re-valuation, Redenomination
Opinion: The Iraqi Dinar needs Political Support!
By Dr Amer K. Hirmis, Capital Business Strategies Ltd. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqi Dinar needs political support...to serve the economy! The Iraqi Dinar (IQD) was devalued by nearly 23 percent on Saturday, December 19, 2020, from its previous (official) […]
Tags: Central Bank of Iraq (CBI), devaluation, dinar, Dinar Exchange Rate News, Dinar Revaluation News, Dr Amer K. Hirmis, featured, International Monetary Fund (IMF), IQD, Iraqi Dinar News, mn, re-denomination, re-valuation, Redenomination
Major Housing Projects planned for 2021
By John Lee. The Chairwoman of the National Investment Commission (NIC), Suha Dawood Najar, has said that the coming year will see investment opportunities in each Iraqi province, similar to the Bismaya City housing project in Baghdad. She made the announcement at a recent meeting with the heads of the provincial investment commissions of Kerbala, […]
Iraq Dinar Devalued by approx 20%
By John Lee. Iraq has reportedly devalued its currency by about 20 percent against the dollar. According to Bloomberg and The Arab Weekly, the Central Bank of Iraq (CBI) has reduced the official rate to 1,450 dinar per US dollar. The previous official rate was 1,182 dinar to the dollar. Reuters adds that the decision […]
Tags: Central Bank of Iraq (CBI), devaluation, dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, IQD, Iraqi Dinar News, mn, re-denomination, re-valuation, Redenomination
Kadhimi promotes Iraq to Turkish Businessmen
By John Lee. Iraqi Prime Minister Mustafa Al-Kadhimi met on Thursday with a number of businessmen, investors and heads of Turkish companies, on the sidelines of his official visit to the Turkish capital, Ankara. Kadhimi discussed with businessmen and investors ways to facilitate investment procedures, lift obstacles and reduce bureaucratic procedures. He also listened to […]
Moody's announces Periodic Review of Iraq's Ratings
By John Lee. Moody's Investors Service has said that Iraq's credit profile (issuer rating Caa1) "is supported by the country's 'ba2' economic strength ... its 'caa3' institutions and governance strength ... its 'ba3' fiscal strength ... and its 'caa' susceptibility to event risk". The company made the announcement on Monday following its periodic review of […]
Iraqi Dinar Falls in Value
By Editor on 15th December 2020 in Investment, Iraq Banking & Finance News, Iraq Industry & Trade News, Politics
By John Lee. Dinar value falls as Iraq contemplates currency devaluation MPs say Iraq's 2021 budget is likely to bring a significant drop in the value of the dinar, helping the government's balance sheet but hurting the purchasing power of most Iraqis. More details here from Iraq Oil Report (subscription required) (Source: Iraq Oil Report) […]
Tags: Central Bank of Iraq (CBI), dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, IQD, Iraqi Dinar News, mn, re-denomination, re-valuation, Redenomination
Saudi-Iraqi Business Forum Launched; New Projects Announced
By Editor on 9th December 2020 in Agriculture, Healthcare, Investment, Iraq Industry & Trade News, Politics
By John Lee. Prime Minister Mustafa Al-Kadhimi received a delegation of Saudi officials and business people in Baghdad on Monday. Among the visitors was the Saudi Minister of Commerce, Acting Minister of Media, and Chairman of the Saudi-Iraqi Coordination Council, Dr. Majid bin Abdullah Al-Qasabi. The delegation included businessmen representing 22 Saudi companies. During the […]
Tags: Anbar, Diwaniya, featured, mn, Mustafa al-Kadhimi, Saqlawiya Hospital, Saudi Arabia, Saudi-Iraqi Coordination Council, Wheat
Total "in Talks" to Sell Stake in Iraqi Oil Field
By John Lee. France's Total is reported to be in talks to sell its 18-percent stake in the Sarsang block in Iraqi Kurdistan, in a move aimed at reducing the company's debt. Bloomberg says the company is working with Jefferies Financial Group on the deal, adding that the holding could be worth as much as […]