IBBC visit to Erbil and Baghdad
From the Iraq Britain Business Council (IBBC): Baroness Nicholson of Winterbourn, President of IBBC, and Christophe Michels, IBBC Managing Director, accompanied by Dr. Ali Jawad, IBBC Representative in Kurdistan, and Mohanad Al Khattab, IBBC Baghdad Office Manager, have visited Erbil to meet with KRG Government and IBBC Members. On the morning of the 31 of […]
Iraq to get New $139m Cement Production Line
By John Lee. The Saudi company Northern Region Cement has signed a contract with Germany's KHD to build a cement production line in Iraq. According to a statement to the Saudi Stock Exchange, the new plant will have an annual capacity of 1.32 million tons of cement, and the project should be completed within 16 […]
Central Bank of Iraq Resumes Sale of Gold
By John Lee. The Central Bank of Iraq (CBI) has decided to resume the sale of gold ingots and coins starting on Wednesday, November 8, 2023, using an electronic platform. The bank has confirmed that both government and private banks can apply to purchase gold ingots and coins through a dedicated online platform, emphasizing that […]
Flood Compensation Allocated to Iraqi Provinces
By John Lee. Iraq's Ministry of Finance has initiated the payment of compensation totalling over 175 billion dinars to the Ministry of Agriculture for damages caused by floods and rains in the following provinces: Basra: 32.69 billion dinars Maysan: 7.91 billion dinars Wasit: 12.41 dinars Muthanna: 122.87 dinars The disbursement is based on Cabinet Decision […]
Construction of the Woman Shelter in Diwaniyah
By John Lee. Ahla Al-Jinan Company has won a contract with the United Nations Assistance Mission for Iraq (UNAMI) for the "Construction of the Woman Shelter in Diwaniyah Governorate". The contract is valued at $172,225. The potential end date is given as Monday, February 19, 2024. (Source: UN)
Tabaqchali: Assessing the Risks of a Wider Middle East Conflict
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. Assessing the Risks of a Wider Middle East Conflict The market, as measured by the Rabee Securities US Dollar Equity Index (RSISX USD Index), was down 3.4% in […]
Recentralization "Imperils Iraq's Stability and Fuels Regional Tensions"
By Mohammed A. Salih, for the Foreign Policy Research Institute (FPRI). Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Recentralization Imperils Iraq's Stability and Fuels Regional Tensions Iraq is at a pivotal juncture, diverging from its post-2003 vision of a federated state as […]
KRG commits over $53m Annually for Cancer Treatment
By John Lee. The Kurdistan Regional Government (KRG) has allocated more than 70 billion Iraqi Dinars [$53 million] annually for the procurement of cancer medications, equipment, and medical supplies. Speaking at the laying of the foundation stone for the LINAC Radiotherapy Radiation Cancer Treatment Centre in Duhok, KRG Prime Minister Masrour Barzani also appealed to […]
Gas Pipeline to Kirkuk Power Station Completed
By John Lee. Iraq's Oil Pipeline Company has successfully completed a project to extend a dry gas pipeline (16 inches in diameter) that supplies the Kirkuk Gas Power Station from the Khor Mor fields. The pipeline, with a length of 1,050 meters, was constructed in two phases and is expected to transport an additional 100 […]
Oil Ministry Discusses Development Plans with TotalEnergies
By John Lee. In a meeting of the Joint Management Committee, Iraq's Oil Ministry discussed the development plan for fields and projects contracted with the French company TotalEnergies. The Deputy Minister for Extraction Affairs affirmed the ministry's commitment to implementing strategic projects with TotalEnergies and QatarEnergy. According to a statement from the Ministry, the four […]
Bell Helicopter Approved for $300m Iraq Sale
By John Lee. Texas-based Bell Helicopter, a wholly-owned subsidiary of Textron Inc., has been approved for a possible $300-million military contract with Iraq. Full statement from the US Defense Security Cooperation Agency (US DSCA): The State Department has made a determination approving a possible Foreign Military Sale to the Government of Iraq of Bell Helicopter […]
Iraq's Largest Packaging Factory Opens in Erbil
By John Lee. The Prime Minister of the Kurdistan Regional Government (KRG) has Barzani has opened what is described as the largest cardboard and packaging factory in Iraq. Masrour Barzani opened the Fabyab facility in Erbil on Tuesday, saying: "This factory plays a crucial role in bolstering our agricultural sector by providing essential packaging and […]