Iraq Has Cash Reserves to Fight Dinar Depreciation
The finance committee in the Iraqi Council of Representatives warned on Wednesday about the deterioration of the Iraqi economy due to the low exchange rate of the dinar to the US dollar, assuring that proposals are underway to get the country back on its feet, reports AKnews. According to AKnews, the Iraqi dinar hit its […]
Project Management Opportunities at Ministry of Construction
Iraq's Ministry of Construction and Housing is looking at ways to privatise their PMCM (Project and Contract Management) by bringing in an international consulting form to supervise the extensive construction works that are running and planned over the next 24 months. “We want to look at getting a company to contract in Project Management staff […]
Iraq Signs MoU with Shell for Huge Petrochemical Plant
Iraq has signed a Memorandum of Understanding in Baghdad with Shell to make a technical and economic feasibility study to set up a major petrochemical plant, reports Aswat al-Iraq. “Iraq has a big vision to cope with the big leaps in the oil sector in the coming few years through the use of the natural […]
Karbala International Passenger Terminal Opens
The Director General of the Private Transport Section of the Ministry of Transport, Mr. Abdullah Laibi, outlined the opening of the new $14 million passenger terminal adjacent to Karbala airport. Designed to ease congestion between Najaf and Karbala, the new 2,000 car parking facility integrates accommodation, restaurant facilities making access to the airport for pilgrims […]
The Craziness of the UKBA and the Visa System
By Gavin Jones, Director of Iraq Business News, and Partner at consultancy firm Upper Quartile. The Ministry of Construction in Iraq has just spent $250 million on weighbridges from a company based in the British Midlands, for use at border crossings; as Iraqis buys more and more overseas goods, it is important to ensure that […]
Iraq Takes Delivery of New $14m Ship from China
Iraq's Transportation Ministry sent a crew of five sailors to China to take delivery of a new $14m (16.3bn IQD) ship for the Iraqi fleet. The Iraqi Naval Transportation Company contracted China's ANT to construct the 7,000-ton ship, which will carry goods from China to Iraq and will "reinforce Iraqi marine trade". This brings to […]
Second Unit of Diwaniya Refinery Opened
Iraq's Oil Minster, Abdul Kareem Luaibi [Elaibi], has opened the second unit of the Diwaniya refinery, which will produce 10,000 bpd, raising the total production to 20,000 bpd. The year-long project cost 63 billion dinars [$53 million] and was carried out in cooperation with the ministry of industry & minerals. The plant will produce: Naphtha: […]
Iraq to Increase Egypt Trade to $2bn
The Iraqi government plans to increase trade with Egypt to $2 billion (2.4 trillion IQD) this year, according to a report from AKnews. Last year the figure reached only $400 million (466 billion IQD), said Kamal Sharif, chairman of the committee tasked with planning the increase. He said the Ministry of Trade, and the General […]
Jordan’s Aphrodite Wins $240m Iraq Housing Deal
Bloomberg reports that Jordan’s Aphrodite Trading Company has won a $240 million [285 billion Iraqi dinar] contract to build 2,500 housing units in the city of Tikrit in northern Iraq. Jawhar Hamad, the president of Salahuddin Investment Commission, told the agency that the project will be completed within three years. The province needs 19,800 residential […]
UK Minister Visits Kurdistan Region
Last week (4-5 April) The Rt Hon David Willetts MP – UK Minister for Universities and Science – visited Erbil in the Kurdistan Region of Iraq and brought with him a delegation of 12 senior representatives from UK Higher and Further Education. The delegation included three University Vice Chancellors and the Chief Executive of the […]
Video: UN Special Representative Addressses Security Council
The United Nations special representative to Iraq, Martin Kobler, has issued his second address to the United Nations Security Council. He addressed security issues, improving relations with Kuwait, and the country's Chapter VII status: Please click here to download a full transcript of the statement. (Source: UN)
Dunia Weekly Iraq Market Tracker
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]