Iraq to Boost Summer Power Supply through Karpowership Deal
By John Lee. Iraq's Council of Ministers has approved direct contracting with Turkiye's Karpowership Group to enhance electricity supply during the high-demand summer period. The contracts will add 650 megawatts through the deployment of power ship. In a parallel move, the Cabinet also approved the launch of a Floating Storage Regasification Unit (FSRU) project for […]
UK's Agrium Capital to Build Infant Formula Plant in Iraq
By John Lee. The Iraq Development Fund has reportedly signed a memorandum of understanding with British firm Agrium Capital to establish Iraq's first modern infant formula production facility, with a planned capital expenditure exceeding $200 million. The plant, which will use locally sourced ingredients including Iraqi milk, is expected to meet 85 percent of the […]
Iraqi Start-Up secures Funding to Expand Across ME
By John Lee. ToolMart, an Iraqi-based e-commerce platform that sells tools and hardware products, has successfully closed its seed funding round led by Plus VC and Oasis500, along with prominent angel investors from across the region. The newly-secured capital will be used to accelerate the company's growth, expand its workforce, and scale operations into new markets […]
UK/UAE Firm signs MoU with Iraq's Carbon Agency
By John Lee. BB Energy has signed a Memorandum of Understanding (MoU) with Iraq's General Company for Carbon Economics (GCCE) during the country's inaugural Conference on Carbon Economics. The agreement outlines plans for collaboration between BB Energy's Renewable Energy Division and GCCE to implement projects aimed at offsetting carbon emissions and supporting environmental restoration in […]
New Food Processing Plant opens in Al-Mahmoudiya
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani has officially opened the United Arab Company for Food Industries factories in Al-Mahmoudiya, south of Baghdad. The first phase includes pasta and noodle factories built on 20 percent of the 123-dunam [12 hectares; 30 acres] site, with an investment of 128 billion Iraqi dinars [$98 million]. […]
Petroleum Sector in New AI-based Iraqi National Memory Project
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Petroleum Sector in A New AI-based Iraqi National Memory Project A group of dedicated artificial intelligence (AI) specialists and professionals are enthusiastically racing against time and actively working on a first of […]
Modernising Iraq's Financial Infrastructure: The Rise of Digital Payments
By Samer Khraishi, Regional Director for Account Management and Business Development, GCC, Iraq and Jordan at BPC. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Modernising Iraq's Financial Infrastructure: The Rise of Digital Payments Iraq's financial infrastructure has long been in need of significant […]
Baghdad Airport Development progresses with Public-Private Partnership
By John Lee. Prime Minister Mohammed S. Al-Sudani has reaffirmed his government's commitment to upgrading Baghdad International Airport (BIAP), chairing a high-level meeting to advance a public-private partnership (PPP) project aimed at overhauling Iraq's main aviation hub. Attended by representatives from the International Finance Corporation (IFC), the Prime Minister's advisors, and the Head of the […]
Iraq Lifts Ban on Imports of E-Cigarettes, Tobacco
By John Lee. The Iraqi Council of Ministers has approved a request by the Ministry of Health to lift the ban on importing electronic cigarettes, electronic hookahs, and tobacco products, provided that all imports comply with the country's Anti-Smoking Law (No. 19 of 2012). Under the new policy, the Central Organization for Standardization and Quality […]
CBI highlights Iraq's Commitment to AML/CFT Standards
By John Lee. Governor of the Central Bank of Iraq (CBI), Mr. Ali Mohsen Al-Allaq, participated in the opening of the second edition of the Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) Conference, held in Baghdad. Organised by the Central Bank of Iraq, the Union of Arab Banks, and the Iraqi Private Banks League (IBPL), the […]
New Academic Cooperation between Iraq and Netherlands
By John Lee. Iraq has signed a new academic protocol with the IHE Delft Institute for Water Education. The protocol aims to expand mutual scholarship opportunities under the Study in Iraq initiative, while fostering joint educational and research programmes that address pressing water challenges. It also includes cooperation between IHE Delft and Iraqi universities and […]
Oil Production Increases at Nasiriyah and Saba Fields
By John Lee. The Iraqi Ministry of Oil has announced that crude oil production at the Nasiriyah and Saba [Subba] fields has been raised to a combined total of 100,000 barrels per day (bpd), as part of the first phase of a broader integrated development plan. Saeed Zghair Shallagha, Director General of Dhi Qar Oil […]