Iraq’s government has ordered 500 Scania trucks, which are being assembled locally by the Iraqi state automotive company. Scania has also delivered about 30 trucks to private buyers since reentering the country at the end of last year.
Archive | Investment
Iraq Business News brings you the latest news of investments in Iraq, highlighting the many opportunities that exist.
No easy fix for corrupt state banks
By DeWeaver on 9th June 2010 in Iraq Banking & Finance News, Mark DeWeaver on Investments and Finance
Last month, on the occasion of Rafidain Bank’s 69th anniversary celebration, the chairman reported that the bank was looking forward to implementing its new IT system “as soon as possible.” The system, which includes the Mysis products “Bankmaster” and “Branchpower,” is supposed to increase efficiency and reduce operational risk by bringing together information throughout the […]
Did Rafidain rumors ruin record rights issue?
On March 10, the Central Bank of Iraq (CBI) announced that the privately-owned Iraqi banks will be required to increase capital to ID 250 bn (USD 213 mn) over the next three years. Each bank will have to reach an initial capital target of ID 100 bn by the end of the first year and […]
An Apocalypse with a Silver Lining
By Mark DeWeaver Iraq faces a big downside risk from the European sovereign debt crisis—perhaps an even bigger risk than that of renewed sectarian violence. While Iraq’s limited financial links to the outside world make it immune to contagion through the banking sector, sustained debt deflation in Europe would result in a big drop in […]
Read our new Expert blogger on economics and finance starting this week
By adrianshaw on 26th May 2010 in Iraq Banking & Finance News, Mark DeWeaver on Investments and Finance
The sovereign debt crisis in Europe could be bad news for the Iraqi economy if it leads to a sustained bear market in oil. But a more likely outcome is that the crisis will cause central banks to continue their ultra-loose monetary policy, thereby benefiting Iraq by keeping oil prices high. Our new expert Blogger, […]
Hundreds of Turkish Firms Invest in Iraqi Kurdistan
Hundreds of Turkish firms have flocked to the semi-independent Kurdish enclave in northern Iraq, benefiting from a newly issued law easing curbs on foreign investments. Latest figures by the Kurdistan Investment Commission show that more than half of the foreign firms in the enclave are Turkish. In a statement, the commission said there were 620 […]
Tags: Investment
UAE Companies Consider $70b in Investments in Iraq
Dubai UAE developers and companies are considering investments worth $70 billion (Dh257 billion) throughout Iraq, according to a top Iraqi official.
The Largest Private Equity MENA Deal of the Year to Close in Iraq
MerchantBridge, a direct investment and private equity company focused on Middle East investments, has now invested and managed in excess of US$1.5 billion in debt and equity in Iraq.
Kurdistan Full of Promising Investment Opportunities
According to a report from Aswat Al Iraq, Emirati businessmen said that there are promising investment opportunities in Kurdistan region, mainly in tourism, real estate, oil and agriculture sectors. A total of 41 Emirati businessmen and economic figures took part in the trade forum held in Erbil, with the participation of Prime Minister of Kurdistan […]
Tags: Investment
Transport Minister Meets U.S. Delegation
Iraq’s Transport Minister Amer Abduljabbar received on Thursday a delegation from the U.S. embassy, with whom he discussed fostering air traffic.
Young Real Estate Entrepreneurs Link US and Iraq
In a high-rise apartment building in Minnesota's capital city, two 23-year-old men check on a couple dozen properties they've listed for sale in Iraq - Half a world away, their colleague, also 23, is already on the move in Baghdad: Showing houses and appraising properties as he navigates around concrete blast walls and police checkpoints.
Iraqi Ambassadors Asked to Attract Investors
The Iraqi Finance Minister, Baqer al-Zubaidi, urged Iraq's ambassadors to make efforts to attract investments to Iraq, according to a ministerial statement. “Al-Zubaidi received on Wednesday (May 12) Iraq's ambassadors to Germany, Slovakia, the Czech Republic, Kuwait , Japan and Norway,” said the statement received by Aswat al-Iraq news agency. “The minister called on the […]
Tags: Investment