Japan, UN Partnership Supporting Iraq's Infrastructure Development
By John Lee. The United Nations Development Programme (UNDP) in Iraq and the Japan International Cooperation Agency (JICA) Iraq Office have renewed their longstanding partnership, reaffirming their commitment to supporting Iraq's socio-economic development. Backed by funding from the Government of Japan (GoJ) and JICA, this partnership builds on over 15 years of cooperation with the […]
Construction Starts at North Thermal Power Plant in Nineveh
By John Lee. Prime Minister Mohammed S. Al-Sudani inaugurated the construction of Phase One of the North Thermal Power Plant in Nineveh Province on Sunday, during his visit to the region. According to his office, this marks a significant milestone in Iraq's efforts to strengthen its power infrastructure and revive critical projects. Project Overview: Capacity: […]
Frankfurt School of Finance to help Iraqi Banking Sector
By John Lee. The Iraqi Private Banks League (IPBL) has signed a cooperation agreement with Frankfurt School of Finance and Management in Germany, aiming to enhance collaboration in training, consultancy, and academic activities. The agreement is part of the Public Finances and Financial Markets in Iraq (FFM) project, organized by the German Corporation for International […]
Major Power Grid Upgrades in Baghdad for Summer 2025
By John Lee. The Iraqi Ministry of Electricity has announced a plan to enhance Baghdad's power grid ahead of summer 2025, including the installation of 74 new substations and the rehabilitation of 900 distribution feeders (33/11 kV). The initiative aims to address growing electricity demand and reduce outages. During a meeting with Baghdad Provincial Council […]
Donald Trump and the "Great Iraqi Dinar Revaluation"
By a Guest Blogger. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Anecdotal evidence, including inquiries to Iraq Business News, seems to suggest that supporters of US President-elect Donald Trump are more likely to believe that the Iraqi currency, the Dinar (IQD), will increase […]
Iraq's CBI Prioritises Strengthening Loan Guarantee Company
By John Lee. The Central Bank of Iraq (CBI) has announced its strategic focus on enhancing the capabilities of the Loan Guarantee Company [Iraqi Bank Guarantees Company (IBGC)] to support the banking sector and "bolster financial depth." Dr. Ammar Hamad Khalaf, Deputy Governor of the CBI, highlighted this priority during the 8th International Guarantee Conference […]
Iraq Signs Contract for Three Power Substations in Basra
By John Lee. Iraq's Ministry of Electricity has signed a contract to construct three power substations in Basra Province. Funded by the World Bank, the project will add 3x90 MVA capacity at 132 kV, enhancing grid reliability, balancing loads, and reducing bottlenecks. According to a statement from the Ministry, the project will be executed by […]
Iraq Seeks Global Partnerships to Boost Industrial Sector
By John Lee. Iraq's Minister of Industry and Minerals, Dr. Eng. Khaled Battal Al-Najm, reaffirmed the government's commitment to international cooperation to revitalize the country's industrial sector. This statement came during his meeting with Bulgaria's Ambassador to Iraq, Mr. Nikola Draganov. The discussion focused on strengthening industrial collaboration, reactivating the Iraq-Bulgaria Joint Committee, and preparing […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 19th 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'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: […]