PPP Opportunities Planned for Iraq's Airports
By John Lee. The Iraqi Council of Ministers has approved measures to develop and manage airports through public-private partnerships (PPP): The Ministry of Transportation is authorised to engage the International Finance Corporation (IFC), a member of the World Bank Group, to develop investment proposals for the management, operation, and development of Basra, Mosul, Dhi Qar, […]
IBBC hosts UK's Middle East Minister in House of Lords
From the Iraq Britain Business Council (IBBC): IBBC hosts UK's Middle East Minister at AGM dinner in House of Lords Baroness Nicholson hosted a well-attended IBBC AGM dinner with The UK Government Under-Secretary for the Middle East Mr Hamish Falconer MP and former Foreign Secretary Mr James Cleverly MP and Dr Ahmed Khalil deputy Iraqi Ambassador, as speakers. Mr Falconer offered a wide-ranging discussion […]
Iraq Plans Investment in Sulphur and Phosphate
By John Lee. Prime Minister Mohammed Shia Al-Sudani chaired a high-level meeting to discuss the development of Iraq's sulphur and phosphate industries. Attendees included the Deputy Prime Minister for Energy Affairs, the Ministers of Oil, Finance, Industry and Minerals, and the Governor of the Central Bank of Iraq (CBI). The meeting focused on optimising the […]
Jordanian Exports to Iraq increased by 45.6%
By John Lee. Jordan's state-run Petra News Agency has said that exports to Iraq increased by 45.6 percent in the first 11 months of 2024. Jordan's exports to Iraq: 45.6% increase reaching JD 830 million [$1.2 billion]. Up JD 260 million from JD 570 million in 2023. Jordan's imports from Iraq: Slight decline to JD […]
Iraqi Bank Training on Cross-Border Payments, Financial Integrity
By John Lee. The Washington DC-based Institute for Financial Integrity (IFI) has announced the launch of the Financial Integrity and Cross-Border Payments Training Program for the National Bank of Iraq (NBI), developed in partnership with the Central Bank of Iraq (CBI) and K2 Integrity. According to a press release from IFI, this groundbreaking initiative aims […]
TBI, Industrial Bank to cooperate to Fund Projects in Iraq
By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, participated in the Iraq Energy 2025 Conference in Baghdad, organised by the Iraq Development Platform. During a panel discussion, the Governor highlighted the CBI's adoption of non-traditional monetary policies aimed at economic stability. He emphasised the bank's role in financing […]
World Bank Renews Commitment to Iraqi Infrastructure
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani met with Ousmane Dione, World Bank Vice President for the Middle East and North Africa, to discuss strengthening cooperation and advancing development projects in Iraq. The discussions emphasised initiatives to diversify Iraq's economy, reduce oil dependency, and create employment opportunities, with a focus on private sector […]
Economist: Trump Oil Policy may Harm Iraq, Devalue Iraqi Dinar
By John Lee. A leading Iraqi economist has predicted that US President Donald Trump's pressure to reduce oil prices will harm the Iraqi economy, and could lead to a devaluation of the Iraqi dinar. In a post on Facebook, Dr Nabil Jaafar Al-Marsoumi, former Professor of Economics at Basra University, and member of the Advisory […]
Kirkuk Airport Opens Gold Testing and Hallmarking Unit
By John Lee. Iraq's Central Organisation for Standardisation and Quality Control (COSQC) has opened its fourth unit for testing and hallmarking precious metals and imported gold at Kirkuk International Airport. The ceremony, led by Dr. Fayadh Mohammed Abdul-Dulaimi, COSQC President, was attended by key officials, including airport customs and border management representatives. Dr. Abdul-Dulaimi highlighted […]
KBR wins $187m Order for Medical Support Services in Iraq
By John Lee. US engineering firm KBR has secured a $187 million order from the U.S. Department of State to provide medical support services in Iraq under the Diplomatic Platform Support Services (DiPSS) contract. The five-year Medical Support Services Iraq (MedSSI) task order will run through 2029. Under the contract, KBR will operate a Diplomatic […]
New Initiative to promote Iraqi Youth Entrepreneurship
By John Lee. Iraq's Supreme Council for Youth has approved several initiatives to promote youth development and economic participation. Key decisions included establishing "Secure Economic Zones for Youth," with four incubators in Baghdad and two in each governorate, and creating the "Iraq Young Entrepreneurs Forum" to support 500 young entrepreneurs and enhance their access to […]
Genel Energy Reports Strong Financials
Genel Energy issued the following trading and operations update in advance of the Company's full-year 2024 results, which are scheduled for release on 18 March 2025. The information contained herein has not been audited and may be subject to further review. Paul Weir, Chief Executive of Genel, said: "We start 2025 with a business that […]