Iraq "Seeks $2.5bn Missile System" from South Korea
By John Lee. Iraqi news agency Basnews has reported that Iraq "urgently requested" eight missile defense systems from South Korea, valued at approximately $2.5 billion. It says the systems are the "M-SAM-II", or "Cheongung II", which it describes as a robust defense system against aircraft, cruise missiles, and ballistic missiles. More here. (Source: Basnews)
"Excessive Violence" against Labour Protestors in Iraq
By John Lee. Iraqi security forces have allegedly escalated their violence against contract workers at the South Refineries Company (SRC), who were said to have been peacefully protesting for permanent contracts. In a joint statement, IndustriALL affiliates, the General Federation of Oil, Gas and Petrochemical Unions in Iraq (GFOGPUI), the General Union of Oil Workers, […]
UN Identifies Iraq Investment Opportunities
By John Lee. The United Nations Development Programme (UNDP) has issued a new 49-page report on investment opportunities aligned with Iraq's Sustainable Development Goals (SDGs) in target markets and sectors. The report identifies investment opportunities in the following areas: Food Processing Mid-tech Greenhouses Specialty Dairy Products EdTech Platforms Low-fee Private Schools Education Infrastructure Utility-scale Solar […]
French Firm in running for Iraqi-Jordanian Joint Economic City
By John Lee. Iraq's Minister of Industry and Minerals, Dr. Khaled Battal Al-Najm, discussed cooperation mechanisms with a French company that submitted a proposal for a joint economic city [free zone] between Iraq and Jordan. The discussion was based on inquiries and comments from the Iraqi-Jordanian Company for Industry, which is responsible for reviewing the […]
Iraqi PM opens new Manufacturing Plant in Baghdad
By John Lee. Iraqi Prime Minister Mohammed Shia Al-Sudani inaugurated a new manufacturing plant to make car registration plates (licence plates), operated by the Ministry of Interior, in Baghdad on Saturday. He toured the facility and reviewed the production process, which meets high standards allowing vehicle owners to drive internationally. PM Al-Sudani praised the efforts […]
Iraqi PM meets with Egyptian Multinational Electrical Company
By John Lee. Prime Minister Mohammed Shia Al-Sudani met with Ahmed El Sewedy, CEO of Egyptian multinational electrical company El Sewedy Electric on Monday. The meeting focused on government efforts in economic reform, boosting industrial and agricultural activities, and enhancing the investment environment to attract major global companies across various sectors. PM Al-Sudani highlighted investment […]
Iraq appoints New Ambassador to Russia
By John Lee. Iraq has appointed a new Ambassador to Russia. Mr Haider Mansour Al Athari (pictured), assumed his duties on Monday, 3rd June. Iraq Business News understands that Mr Athari has previously served as Ambassador to Jordan, and more recently as Head of the Europe Department at the Ministry of Foreign Affairs. (Source: Ministry […]
Tabaqchali: IMF Sees Budget Boosting non-oil GDP Growth
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. IMF Sees Budget Boosting non-oil GDP Growth The equity market, as measured by the Rabee Securities U. S. Dollar Equity Index (RSISX USD Index), was down 1.9% […]
IBBC opens New Office in Erbil
By John Lee. The Iraq Britain Business Council (IBBC) has opened a new office in Iraqi Kurdistan. IBBC President Baroness Nicholson opened the new facility, located in Erbil's Italian Village, on Monday. Among those attending were Safeen Dizayee, Head of the KRG's Department of Foreign Relations; James Goldman, UK Consul General in Erbil; and Dr […]
Iraq Pays More to Farmers using Modern Irrigation Systems
By John Lee. Iraq's General Union of Cooperative Agricultural Associations met with Prime Minister Mohammed Shia Al-Sudani on Saturday. During the meeting, he listened to various proposals and discussions concerning farmers and the agricultural sector's improvement. PM Al-Sudani emphasized the union's critical role as a mediator between the government and farmers. He reiterated the government's […]
flynas Launches Direct Flights between Dammam and Najaf
By John Lee. Saudi air carrier flynas has launched its first direct flight between Dammam and Al Najaf on Saturday. An inaugural ceremony was held at King Fahd International Airport (KFIA) in Dammam, attended by HE Iraq ambassador to Saudi Arabia and representatives from flynas, the Saudi-Iraqi Coordination Council, the Saudi General Authority of Civil […]
EU-Sponsored Conference to Empower Iraqi Youth and SMEs
By John Lee. The European Union Mission in Baghdad has held a conference focused on empowering youth and supporting small and medium enterprises (SMEs). According to a statement from the Ministry of Trade's media office, the conference saw broad participation from Iraqi youth, including students, entrepreneurs, and activists. The statement highlighted the Ministry of Trade's […]