Iraqi PM meets Turkish Company Delegation
By John Lee. On Thursday, Prime Minister Mohammed Shiaa Al-Sudani received a delegation from the Turkish company Limak, specializing in transportation and construction projects, led by the company's founder, Mr. Nahad Ouzdemir. During the meeting, the Prime Minister highlighted the investment and developmental opportunities for the company to contribute to Iraq, particularly in infrastructure, transportation […]
Germany Establishes first Design Study Programme in Iraq
By John Lee. The University of the Arts in Bremen, Germany, (Hochschule für Künste Bremen - HfK) will partner with the College for Fine Arts in Sulaymaniyah and the Goethe-Institut Irak to establish the first design study program in Iraq. Over the next four years, the "Visual Communications" study program will be developed and designed […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 29th February 2024). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Change RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 1,679.8 0.7% 8.1% RSISX USD Index 1,651.7 […]
Chinese Company Presents Plans for Integrated Steel Project in Basra
By John Lee. The board of Iraq's Industrial Cities Authority has discussed the establishment of an integrated industrial city for iron and steel production at the site of the State Company for Iron and Steel (SCIS) in Basra, as part of the Basra Economic Capital project. The industrial city will integrate sponge iron [direct reduced […]
IMF commends Iraqi Govt's measures to Stimulate Investment
By John Lee. An Iraqi delegation, led by Finance Minister Taif Sami Mohammed, held discussions with IMF experts during the fourth Article IV consultations, held in Amman, Jordan, from February 27 to 29. Discussions centered on Iraq's reform program, focusing on fiscal and banking policies, digital infrastructure, financial inclusion, public debt issues, and measures to […]
GKP says Local Sales Volumes have Rebounded
By John Lee. Gulf Keystone Petroleum (GKP) has said that local sales volumes have rebounded in recent weeks. It adds that sales for February are expected to be above expected monthly net capex and costs. Full statement from GKP: Update on Shaikan Field local sales & Notice of 2023 Full Year Results Gulf Keystone, a […]
Iraqi PM encourages Armenian Investment
By John Lee. During a meeting on Tuesday between Iraqi Prime Minister, Mohammed Shiaa Al-Sudani, and Armenian President, Vahagn Khachaturyan, Al-Sudani pointed out significant investment opportunities, particularly in the development of infrastructure such as the Development Road project and the Grand Faw Port, along with associated projects. Al-Sudani proposed the establishment of a joint forum […]
Iraqi Cabinet Approves "Final Settlement" with Petrofac
By John Lee. The Iraqi cabinet has approved what it described as a "final settlement" between the Ministry of Oil / Basra Oil Company (BOC) and Petrofac. The settlement reduces the amount to be paid for the second central processing plant (CPF2) in the Majnoon oil field from $30 million to $27.5 million. (Source: PMO)
Why Investing in the Iraqi Dinar Is a Bad Idea
By Jon Neilsen, for CoinCodex. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Why Investing in the Iraqi Dinar Is a Bad Idea Some people are buying the Iraqi Dinar (IQD), the national currency of Iraq, in the hopes of striking it rich. But […]
Iraq Cuts Customs Duties on Live Animals
By John Lee. The Ministerial Council for the Economy, chaired by Minister of Foreign Affairs Fouad Hussein, has approved a request from the Ministry of Agriculture to reduce customs duties on live animals imported for slaughtering and breeding purposes. According to the state-run Iraqi News Agency (INA), the decision was taken due to the high […]
Hanwha to Resume Work on Bismaya Residential City
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani presided over the signing of a memorandum of understanding between the National Investment Commission (NIC) and South Korea's Hanwha to resume work on Bismayah City residential development. The visit on Monday morning included a meeting with residents, where their feedback on provided services was heard, prompting directives […]
Germany, UNOPS Rehabilitate Iraqi Infrastructure
The KfW Development Bank and UNOPS signed a new agreement to support the conflict-affected communities and to enhance their access to basic public services in Anbar and Sinjar, Iraq. With the support from the Federal Republic of Germany, through KfW Development Bank, UNOPS will rehabilitate war-damaged shelters and basic community infrastructure such as water and […]