PM orders meeting on Al-Khairat Power Plant Investment
By John Lee. The Iraqi Prime Minister has ordered a consultative meeting to be held between the Ministry of Electricity and the General Secretariat of the Council of Ministers regarding the Al-Khairat Thermal Power Plant. According to a statement from the Prime Minister's Office, the focus of the meeting is on resolving financing issues related […]
Iraq Assumes Presidency of Economic and Social Council
By John Lee. Iraq has assumed the presidency of the Economic and Social Council at the ministerial-level meeting in Baghdad, part of the preparations for the Fifth Arab Economic and Social Development Summit. The outgoing president, Lebanese Minister of Economy and Trade Amir Bisat, expressed confidence in Iraq's leadership. Taking over the presidency, Iraq's Minister […]
Iraq Dinar Fraud: $8.4m Recovered
By John Lee. The Iraqi Judiciary has recovered 11 billion dinars [$8.4 million] following a financial fraud case involving a company that illegally profited from currency exchange rate differences through fraudulent overseas money transfers. According to a statement from Iraq's Commission of Integrity, the recovery was led by the Second Karkh Investigation Court, under the […]
Dinars to Dollars: Bank praised for Efficient Dollar Distribution
By John Lee. Customers have reportedly expressed widespread satisfaction with the smooth and organized process of dollar distribution at branches of the state-owned Al-Rafidain Bank. The bank says it has been distributing $2,000 per pilgrim at the official rate of 1,320 IQD per dollar, as set by the Central Bank of Iraq (CBI). In a […]
Iraqi Entrepreneurs Participate in SelectUSA Investment Summit
By John Lee. A delegation of 46 Iraqi entrepreneurs and business leaders are participating in the SelectUSA Investment Summit, taking place in the US from May 11th to 14th. The event, which brings together investors, companies, and industry experts, provides a platform to explore investment opportunities in the United States. The Iraqi delegation aims to […]
Al-Uroush becomes Exclusive Distributor of Mazda Cars in Iraq
By John Lee. Al-Uroush Automotive has signed an exclusive distribution agreement with Japan's Mazda Motor Corporation. The signing ceremony, held in Hiroshima, Japan, was attended by Dr. Sabah Abdul Latif Salem, Chief Executive Officer of Al-Uroush, and Mr. Manabu Osuga, Global Sales and Marketing Director at Mazda. Under this strategic partnership, Al-Uroush will be the […]
Iraq Secures German Loan to Enhance Power Infrastructure
By John Lee. Iraq's Council of Ministers has authorized the Ministry of Finance to sign a loan agreement backed by German and other international export credit agencies. The funding will support the installation of three 400 kV and five 132 kV substations, as part of Phase II of the energy cooperation framework with Siemens Energy. […]
Iraq Signs Transit Agreement for Int'l Telecommunications
By John Lee. The Ministry of Communications of Iraq, under the supervision of Minister Dr. Hayam Al-Yasiri, has signed a partnership agreement with DIL Technology to establish Iraq as a unified transit corridor for international communications, running from from Al-Faw to Ibrahim Al-Khalil. The deal, the first of its kind, was signed between the General […]
Iraq Restarts 503 Projects, valued at over $12bn
By John Lee. The Chairman of Iraq's National Investment Commission (NIC), Dr. Haider Mohammed Makiyya, announced the restart of 503 investment projects across the country, as part of a national plan to stimulate the economy. These projects, valued at over $12 billion, are part of 855 projects that have been stalled for the past two […]
IBBC appoints Mohammed Al Saadi of Sama Hammurabi Law as Iraq Members' Rep
From the Iraq Britain Business Council (IBBC): IBBC appoints Mr Mohammed Al Saadi of Sama Hammurabi Law as Iraq members' representative. The appointment of Mr Al Saadi as IBBC's Iraqi representative is an important role for IBBC. As the link between members and management and as the main contact in Iraq he will speak to […]
Iraq to Present Strategic Communications Projects
By John Lee. The Ministry of Communications and the Iraqi Economic Council discussed preparations for the Iraq Investment Forum, scheduled for early June in Baghdad. Minister Hiyam Al-Yasiri highlighted strategic projects for investment, including submarine and transit [fiber optic] cable systems and data centres, aimed at enhancing Iraq's digital infrastructure and regional connectivity. Ibrahim Al-Baghdadi […]
Hoarded Wealth, Frozen Economy: Iraq's Hidden Cash Crisis Deepens
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Hoarded Wealth, Frozen Economy: Iraq's Hidden Cash Crisis Deepens For many Iraqis, banks are not seen as safe havens but as unreliable or even risky institutions. And for countless others, personal experiences of fraud […]