Iraq's Central Bank Expands Foreign Transfer Options
By John Lee. The Central Bank of Iraq (CBI) announced an expansion of foreign currency transfer options for local banks, adding the Jordanian Dinar and Saudi Riyal to the list. Iraqi banks are now also permitted to fund trade with Turkey in Euros, previously restricted to transactions with EU countries. These currencies join the existing […]
Int'l Partners discuss Al-Khairat Power Plant Project
By John Lee. Iraq's Minister of Electricity, Eng. Ziyad Ali Fadhil, chaired a technical meeting with Harlow International and China's SEPCOIII Electric Power Construction Corporation [SEPCO3, Shandong Electric Power Construction No. 3], the developers and funders of the giant Al-Khairat Steam Power Plant project in Karbala Province. A Ministry statement said the plant, with a […]
US Awards AUIB $2.1m to Develop AI, Transform Higher Ed
By John Lee. The American University of Iraq-Baghdad (AUIB) has announced that it has received a $2.1 million grant from the U.S. Department of State. According to a statement from AUIB, this grant will aid AUIB's efforts to revolutionize higher education in alignment with Iraq's National Education Strategy. The funding will establish two groundbreaking initiatives: […]
Workshop on Financial Modeling for Energy Projects in Iraq
By John Lee. The Iraqi Ministry of Electricity, in collaboration with the U.S. Department of Commerce's Commercial Law Development Program (CLDP), organized a two-day workshop in Baghdad to explore best practices in financial modeling for energy production projects. Key attendees included Dr. Abdul Hamza Hadi, ministry advisor, and specialized staff from various departments and companies. […]
Oil Pipeline to Haritha Power Station Completed
By John Lee. The Iraqi Ministry of Oil has announced the completion of a 13-kilometer crude oil pipeline to supply fuel to the Haritha [Hartha?] Power Station in Basra Province. The pipeline, with a 12-inch diameter, was built by the Oil Pipeline Company. According to the company's director, Ali Abdul Karim Al-Mousawi, the technical and […]
Baghdad Historical Rehabilitation Project: Third Phase to Launch
By John Lee. Prime Minister Mohammed S. Al-Sudani chaired a meeting on Monday to finalise preparations for the third phase of the Baghdad Historical Rehabilitation Project. This phase focuses on restoring Al-Midan, Al-Rusafi Square, and Al-Rasheed Street, areas central to Iraq's modern history. Aligned with Baghdad's recognition as the Arab Tourism Capital for 2025, the […]
IDC completes New Well at Siba Gas Field
By John Lee. The Iraqi Drilling Company (IDC) has completed drilling a new injection well in the Siba Gas Field in Basra Province. The well, drilled to a depth of 1,215 meters, marks the first project completed under a contract with Kuwait Energy. Kuwait Energy recognized the drilling team's exceptional performance, awarding them for completing […]
UNDP Contract for Rubble Removal
By John Lee. Bab Al Karama Company has won a contract with the United Nations Development Programme (UNDP) for "Rubble Removal and Cleaning the Irrigation Channels (9L2L & 9L5R) in Shirween." Contract value is stated as $130,006.89. (Source: UNGM)
4 Untapped Investment Opportunities in Iraq
By John Lee. Iraq Venture Partners (IVP) has identified four main areas as untapped investment opportunities in the Iraqi market: Fintech: Limited access to formal banking creates demand for mobile payment solutions and digital financial products. There is room for growth in areas like peer-to-peer lending, microfinance, and digital banking solutions that enhance financial inclusion, […]
IBBC holds successful Dubai Business Conference
From the Iraq Britain Business Council (IBBC). IBBC holds successful Dubai business conference with senior membership and government dignitaries IBBC held a successful two-day conference in Dubai including a full education day followed by the business day, attended by senior officials from Iraq including HE Mohammed Al Darraji, senior technical advisor to the Iraqi PM […]
Enhancing Collaboration between Iraqi Stock Exchange and ADX
By John Lee. During an official visit to Abu Dhabi, Iraqi Securities Commission (ISC) President Faisal Al-Haimus met with Abdulla Salem Alnuaimi, CEO of Abu Dhabi Securities Exchange Group (ADX), to explore enhancing collaboration between the Iraqi Stock Exchange (ISX) and ADX. Discussions focused on integrating ISX into the Tabadul Digital Exchange Hub, a cross-border […]
Mosul Space launches Nineveh's First Youth-Led Climate Club
By John Lee. The innovation and tech hub Mosul Space has inaugurated Climate Space, Nineveh's first youth-led club dedicated to addressing local environmental and sustainability issues. The opening session introduced the initiative's mission to empower young leaders, tackling problems such as water scarcity, waste management, and the lack of green spaces. Planned activities include tree-planting […]