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 […]

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 […]

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 […]

Saudi-Iraqi Business Forum Launched; New Projects Announced

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 […]

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 […]