CBI Reports Strong Financial Growth; Iraq Gold Reserves Up 57%
By John Lee. The Central Bank of Iraq (CBI) has announced positive financial indicators for Q3 2024, highlighting the success of its monetary policy during the year: Banking Sector Growth (Q3 2024 vs. Q3 2023) Total Deposits in Banks Growth: 4.2% Q3 2024 Value: 127.6 trillion dinars. Q3 2023 Value: 122.4 trillion dinars. Cash Credit […]
Development Road Project to be Presented to Int'l Companies
By John Lee. Iraq's Minister of Transport, Razzaq Muhibis Al-Saadawi, has announced progress on the Development Road Project, emphasizing that following the completion of detailed designs, the project will be presented to major international companies for investment opportunities. Key Progress Milestones: Completion of Preliminary Designs: The Ministry has finalized 100% of the preliminary designs for […]
Baghdad opens first General Hospital in nearly 40 years
By John Lee. Baghdad's first general hospital in nearly 40 years, Al-Shaab General Hospital, was been inaugurated on Saturday by Prime Minister Mohammed S. Al-Sudani. The 246-bed facility, a long-stalled project now completed under a joint management model, is equipped with modern infrastructure, advanced medical equipment, and comprehensive healthcare services. During the opening ceremony, the […]
Comprehensive Plan to Modernise Iraq's Railway System
By John Lee. Minister of Transport, Razzaq Muhibis Al-Saadawi, announced a detailed strategy to revitalize Iraq's railway network, emphasizing the ministry's commitment to restoring and upgrading its infrastructure. Key Developments in Iraq's Railway Network: Reopened Lines After Long-Term Closures: Baghdad-Fallujah Line: Reopened after a 5-year suspension. Silo Al-Sharqat Line (Mosul): Reopened after 30 years of […]
Iran to Establish Science and Technology Parks in Iraq
By John Lee. The Iranian Minister of Science, Research, and Technology, Hussein Simayi Sarraf, has reportedly expressed Iran's readiness to collaborate with Iraq in establishing joint science and technology parks, following a request from Iraqi higher education officials to benefit from Iran's expertise in this field. According to Iran's state-run Islamic Republic News Agency (IRNA). […]
Video: Tabaqchali on Iraqi Markets, AI, and Cryptocurrency
By John Lee. In a new video from AI4Iraq, Ahmed Tabaqchalli, Chief Strategist at AFC Iraq Fund, discusses the progress of capital markets in Iraq, the impact of artificial intelligence and the future of crypto currency. AI4Iraq is a non-profit organisation with roots in Iraq, Lebanon and Hong Kong. According to its website: "We are […]
Iraqi Airways launches Direct Flights to Sharjah
By John Lee. Iraqi Airways has officially added Sharjah, in the United Arab Emirates (UAE), as a new destination. The inaugural flight from Baghdad International Airport to Sharjah International Airport took off on Thursday, marking the start of regular service. There will be three flights per week, on Thursday, Friday, and Saturday. (Source: Ministry of […]
How Climate Activists are turning the 'Tishreen Dream' Green
By Hayder Al-Shakeri, for Chatham House. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Postcard from Baghdad: How climate activists are turning the 'Tishreen dream' green The 2019 uprising ended violently, but young people's fight for a better future carries on. Hayder Al Shakeri […]
Chinese Payment Firm enables Iraq's new SuperQi App
By John Lee. Qi, a leading player in Iraq's fintech sector, has reportedly unveiled its third-generation app, SuperQi, in collaboration with China's Ant International. According to a report in Gulf Business, SuperQi offers a comprehensive suite of services that include scan-to-pay, money transfers, bill payments, loans, mobile recharge and other payment solutions, enabled by by […]
Iraq announces Oil Exports for November
By John Lee. Iraq's Ministry of Oil has announced finalised oil export volumes for November, but has again not disclosed the value of oil exports for the month. This continues the practice of delayed or missing oil export data from the Ministry. Total exports of crude oil: 98,869,824 barrels. Exports from the oil fields in […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 26th December 2024). Please click here to view a table of listed companies and their associated ticker codes. Note: ISX will be closed from December 31, 2024 until January 6, 2025 due to the end-of-year closing operations. The last trading session of […]
Iraq to spend $94m on Korean Helicopters
By John Lee. Korea Aerospace Industries (KAI) has signed a significant export contract to supply military helicopters to Iraq. The company describes the Korean Utility Helicopter (KUH-1), also known as Surion, is a multi-role utility helicopter, "complete with excellent maneuverability and a world-class hovering capability features cutting-edge avionics system." It continues: "They have been deployed […]