Iraq's government said it plans to embark on a roadshow June 27 to attract investments for projects including four domestic refineries worth more than $3 billion, pan-Arab Al Hayat daily reports Thursday.
Four New Refinery Projects Worth $3bn
Archive | Investment
Iraq Business News brings you the latest news of investments in Iraq, highlighting the many opportunities that exist.
Tags: Investment, Refinery
Iraq sees fall in deficit, Investment Increase
Iraq will decrease its deficit to 8 percent over the next three years from 18 percent, the finance minister said on Wednesday, and envisioned a substantial increase in investment as a percentage of the budget.
Tags: Bayan Jabor, Investment
Scania to Increase Truck Dealerships in Iraq As Demand Grows
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.
No easy fix for corrupt state banks
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
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.