KBR wins $46m Contract to Support Sustainable Development in Iraq
By John Lee. American engineering firm KBR has announced that it has been awarded a five-year contract, with options, to support the Iraqi government's visionary infrastructure and future energy ambitions, including the delivery of megaprojects and sustainable development. Under the terms of the $46 million contract, KBR will provide its differentiated advisory and consultancy capabilities […]
IBBC Webinar: Drivers of the Iraqi Dinar Exchange Rate
By John Lee. On a webinar organised by the Iraq Britain Business Council (IBBC) on Tuesday, Professor Frank Gunter of Lehigh University and Dr Ahmed Tabaqchali of AFC Iraq Fund (and Expert Blogger on Iraq Business News) discussed the drivers of the Iraqi dinar exchange rate. The event marks the official launch of the IBBC's […]
Iraq Opens Copper Recycling Plant in Dhi Qar
By John Lee. Under the patronage of Minister of Industry and Minerals, Dr. Engineer Khaled Battal Al-Najm, the ministry's Development Advisor, Qaisar Ahmed Al-Hashimi, inaugurated a copper recycling plant in Dhi Qar's General Company for Electrical Industries. This project, in partnership with a private Iraqi company, aims to produce 3,000 tons of copper rods annually. […]
US Designates Iraq-based, Iran-aligned Militia
By John Lee. The US Department of State has designated Harakat Ansar Allah al-Awfiya (HAAA) and HAAA Secretary General Haydar Muzhir Ma'lak al-Sa'idi, as Specially Designated Global Terrorists (SDGTs). It describes Harakat Ansar Allah al-Awfiya as an Iraq-based, Iran-aligned militia group and part of the "Islamic Resistance in Iraq (IRI)"- a front group comprised of […]
IBBC Conference: Much to Celebrate in Iraq as Energy takes Centre Stage
From the Iraq Britain Business Council (IBBC): IBBC's 15th Anniversary Conference. Much to celebrate in Iraq as energy takes centre stage. IBBC is celebrating 15 years in Iraq at a time when Iraq is moving into a new prosperous and stable era. IBBC Spring Conference at the Mansion House on 2nd July will reflect our […]
Iraq Signs MoU with Honeywell for Refinery Development
By John Lee. The Iraqi Ministry of Oil announced details of a memorandum of understanding (MoU) signed with American company Honeywell to develop oil refineries. Deputy Minister for Refining Affairs, Hamid Al-Zobaie, told the state-run Iraqi News Agency (INA) that the MoU involves several projects to increase refinery capacity to 40 percent of crude oil […]
Iraqi Airways sees 89% Increase in Revenue
By John Lee. The Director General of Iraqi Airways has said the airline generated over $91 million in sales and profits during the first five months of 2024, an increase of 89 percent on the same period last year. Manaf Abdul Munem attributed the growth to the effective implementation of the company's operational plan, which […]
Baghdad Airport Security Employees to Receive Salaries
By John Lee. The Iraqi Ministry of Transport has announced the release of salaries for employees of the company responsible for security at Baghdad International Airport (BIAP) for the second consecutive month, following directives from the Council of Ministers and under the supervision of Minister Razzaq Muhibis Al-Saadawi. According to a statement from the Ministry's […]
First Direct Flights between Erbil and London
By John Lee. The first direct flight between Erbil and London was successfully completed on Friday. The flight, operated by Ur Airlines, departed from Erbil International Airport (EIA) at 2pm, carrying 125 passengers. Previously, flights from the Kurdistan Region to the United Kingdom required stops and plane changes, but these flights will now be direct. […]
Five One Labs Launches New Business Support Program
Five One Labs Launches New Business Support Program in Iraq in Partnership with the World Bank Group The World Bank Group and Five One Labs, an international startup incubator with operations in the Kurdistan region of Iraq, are partnering to spearhead initiatives supporting forcibly displaced related startups and micro, small, and medium-sized enterprises (MSMEs) in […]
Iraq Seeks to Boost Economic Ties with Lebanon, Syria
By John Lee. The head of Iraq's National Investment Commission (NIC), Dr. Haidar Mohammed Makkiya, has met with the Lebanese Minister of Economy and Trade, Mr. Amin Salam. During the meeting, Makiya affirmed Iraq's desire to expand cooperation in the investment sector. The NIC chairman stated that the Iraqi government aims to achieve integration in […]
Iraq Securities Commission Partners with IFC for ESG Guide
By John Lee. The Iraq Securities Commission (ISC) has signed an agreement with the International Finance Corporation (IFC), a World Bank Group member, to develop an Environmental, Social, and Corporate Governance (ESG) guide. This initiative aims to integrate international best practices into Iraq's securities market to enhance its performance and effectiveness. According to a statement […]