IMF: Iraq should Simplify Access to Foreign Exchange
By John Lee. The Central Bank of Iraq (CBI) has issued a press release claiming extensive praise from an International Monetary Fund (IMF) mission, led by Jean-Guillaume Poulain, following meetings from 4th to 13th of May, 2025. The CBI statement, widely reported in local and international press, cites the post-meeting report from the IMF, which […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 26th June 2025. Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Change RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 2,259.2 3.6% 0.4% RSISX USD Index […]
US Firm Wins $118m Iraq Defense Contract
By John Lee. Colorado-based Vectrus Systems LLC [V2X] has been awarded a $118,020,690 cost-plus-fixed-fee undefinitized contract action, for base support services in support of the Iraq F-16 program. This contract provides for base operating support, base life support, and security services. Work will be performed at Martyr BG Ali Flaih Air Base (formerly Balad Air Base), […]
Iraqi Dollar Smuggling 'Turns Regional'
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi dollar smuggling 'turns regional' amid high Iranian demand for greenbacks Iraq has recently been riled by reports of a multi-billion dollar cash smuggling scheme allegedly orchestrated by Iran and its allies. Apparently […]
CBI Launches Programme to Boost Youth Entrepreneurship
By John Lee. The Central Bank of Iraq (CBI) has launched the "Knights" [Al Fursan] programme, a locally-developed initiative aimed at fostering youth entrepreneurship and supporting the private sector's role in national economic development. The launch event, held at the CBI's headquarters on 25 June 2025, was attended by Governor Ali Mohsen Al-Allaq, who emphasised […]
Full Infrastructure Rollout for New Al-Sadr City Project
By John Lee. Iraqi Prime Minister Mohammed Shia Al-Sudani chaired a meeting on Wednesday of the High Committee overseeing the New Al-Sadr City Project in Tuzai, issuing directives to implement all infrastructure components alongside the residential construction phases. The meeting reviewed progress following the launch of service infrastructure works and examined the most efficient economic […]
$62m Automotive Service Industrial Complex Completed in Duhok
By John Lee. A major new Automotive Service Industrial Complex has been completed in Duhok at a cost of $62 million [81 billion Iraqi dinars]. Covering 679,000 square metres, the complex includes six zones, 2,378 industrial units, and 30,000 square metres of green space. The development also features 15-metre-wide internal roads to ensure smooth traffic […]
Iraq Reopens Airspace to International Air Traffic
By John Lee. The Iraqi Civil Aviation Authority (ICAA) has announced on Tuesday the reopening of Iraqi airspace to international air traffic following a comprehensive security assessment and coordination with national and international stakeholders. Bangen Rekani, head of the Civil Aviation Authority, stated that the decision reflects improved security conditions and Iraq's ability to provide […]
World Bank Approves $930m for Iraq Railway Upgrade
By John Lee. The World Bank approved on Wednesday a US$930 million [approx. IQD 1.2 trillion] loan for Iraq to modernise its railway network, strengthen domestic and regional trade, and support economic diversification. The Iraq Railways Extension and Modernization (IREM) Project will upgrade the 1,047-km railway line connecting Umm Qasr Port in the south to […]
Enka signs $289m Power Contract in Sulaymaniyah
By John Lee. Turkish firm Enka has signed a contract with Taurus Arm For Power Generatıon, Oil Transportation and Services Ltd. for the conversion of the existing 500 MW simple cycle power plant in Sulaymaniyah, Iraq into a 750 MW combined cycle power plant. The contract value is approximately USD 289 million [378 billion Iraqi […]
Petrel Resources Updates on Iraqi Prospects
By John Lee. Irish-based Petrel Resources Plc (LON: PET) has published its consolidated financial statements for the year ended 31st December 2024. The company's accounts show no assets or liabilities in Iraq. It adds: "Title to oil and gas assets in Ghana and Iraq can be complex. The Group is currently awaiting ratification of its licenses […]
Al Fajer Group Joins IBBC
By John Lee. Iraq's Al Fajer Group has joined the Iraq Britain Business Council (IBBC). Operating from offices in Basra and London, the company supports oil and gas operations with a strong focus on the Rumaila oil field. It delivers a wide range of technical and administrative services, including Electrical & Instrumentation (E&I), ICT & Security, […]