Iraq Business News brings you the latest news of investments in Iraq, highlighting the many opportunities that exist.
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 […]
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) […]
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 […]
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 […]
From the Al-Bayan Center for Planning and Studies. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The Prospects Of Establishing A Sovereign Wealth Fund In Iraq Throughout history, financial crises have been met with innovative reform plans that help develop the resilience of a […]
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: "Private Sector Deposit & Loan Growth Continues" The market, as measured by the Rabee Securities RSISX USD Index (RSISUSD), was up 1.0% in […]
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Will reopening of border crossing drive Saudi investment in Iraq? The recent reopening of the Iraqi border crossing of Arar with Saudi Arabia in a bid to enhance trade […]
By John Lee. An online platform that connects Iraqi patients to doctors has reportedly raised a six-figure sum in its latest round of fundraising. According to Startup MGZN, Tabib Baghdad raised the money through the recently-launched Iraqi Angel Investors Network, led by KAPITA and Nass Al Iraq. It adds that the Deutsche Gesellschaft für Internationale […]
By Nabeel Khoury for The Arab Center Washington DC. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Biden and Iraq: A Chance to Address Past Mistakes A Biden administration is likely to change a few policies in the Middle East while keeping others […]
IBBC's 5th Annual Iraq Conference in Dubai - Opportunity in Adversity The Iraq Britain Business Council (IBBC) was much praised at its conference on Thursday for pioneering in COVID-19 times by bringing together senior officials from Iraq, the UAE and the UK, prominent international and Iraqi businessmen, bankers and professional advisers as speakers and over […]
By John Lee. The Iraqi Ministry of Oil has invited international companies to participate in the competition to implement the Faw Refinery Project in Basra. The project will be offered on a BOO (Build, Own, Operate) or BOOT (Build, Own, Operate, Transfer) basis. Oil Minister Ihsan Abdul Jabbar Ismail said the refinery will be environmentally […]
By Padraig O'Hannelly. A major conference has heard that Iraqi Kurdistan will prioritise a shift towards private enterprise and a more efficient public sector. In his keynote speech to CWC/GFEn's Kurdistan Iraq Economic Forum (KIEF) conference, held online, Kurdistan's Deputy Prime Minister, Qubad Talabani (pictured), said: "We must create an environment to let the private sector […]
