Archive | Investment

Iraq Business News brings you the latest news of investments in Iraq, highlighting the many opportunities that exist.

Redenomination an unlikely priority for the CBI

Earlier this month it was reported that the Central Bank of Iraq (CBI) might redenominate the Iraqi dinar after the new government is formed, exchanging one new dinar for 1,000 old. (For more on this story, see https://www.iraq-businessnews.com/2010/09/14/central-bank-wants-to-drop-zeros-from-iraqi-dinar/.) While such a redenomination would obviously help to simplify transactions and record keeping, it is not clear […]

National Food Industries Raising Funds

National Food Industries has announced that it will be issuing 100% paid up shares at the price of IQD (1 per share) for those shares purchased and owned prior to the holding of its general assembly meeting. Shareholders trading through Warka Bank are advised to submit their authorization letters to purchase the paid up shares […]

168 Investment Permits, Worth $30m, in August

Iraq’s Industry Ministry granted 168 permits for new industrial projects during the month of August. “The total investment value of the projects is around $30.254 million [36 billion Iraqi dinars],” said a press release issued by the ministry on Wednesday, according to Aswat al-Iraq news agency. The projects are related to food, textile, wood, paper, […]

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Erbil Stock Exchange to Commence Trading Early 2011

The Erbil Stock Market will start trading during the first quarter of 2011, the project’s executive director said on Tuesday, explaining that the market startup capital will be around $10 million. “This market should become the strategic axis that will transform the economy of Kurdistan from relying on oil revenues to producing income through local […]

Lending still anemic at foreign-invested banks

Last month, Central Bank of Iraq governor Al-Shibibi told AFP he was hoping foreign banks would play a bigger role in developing Iraq’s financial system. From the banks’ point of view, he said, “the prospects are good, except for security.” But the foreign institutions that have already entered the Iraqi market through investments in local […]

‘More Than $1 billion’ Investments in Ninawa

The Ninewa Investment Commission has granted 28 investment permits for investments totalling “more than $1 billion” [1.2 trillion Iraqi dinars] in the province. “The permits were granted to local businessmen to invest in the fields of agriculture, industry, tourism, health and education,” a source from the commission told Aswat al-Iraq news agency. He explained that […]

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Russian Delegation Considers Investment in Basra

A delegation of Russian companies met with the chairman of Basra Council on Thursday to discuss investment opportunities in the city, a media official of the Basra council said. “A delegation of Russian companies’ representatives held a meeting with Jabbar Amin, with whom they discussed investment opportunities in the city,” Hashem Ubeidi told Aswat al-Iraq […]