Full Text of Iraq Budget Law
By John Lee. Iraq's parliament has published the text of the Federal General Budget Law for the coming three years (2023, 2024 and 2025). The budget was ratified last week by President Abdullatif Jamal Rashid. Click here to download (Arabic) (Source: Iraqi Parliament)
UN Awards New Contracts in Iraq
By John Lee. The United Nations (UN) Secretariat has awarded two Iraq-related contracts recently: Construction of marketplaces in Sinjar City, Nineveh Governorate: Granted to RUBAR For General Contracting Ltd.. Contract value $124,434; Supplying and installing handwash units for public areas in Sinjar and Sinuni Districts: Granted to Bab Al Karama for General Contracting Ltd.. Contract […]
ATFX Launches Ops in Iraq with Ashur Bank
By John Lee. UK-based online trading and foreign exchange company ATFX has announced the start of operations in Iraq, in partnership with Iraq's Ashur Bank. The agreement was signed in Jordan by Joe Li, Global Chairman of ATFX, and Ziad Fatayer, the CEO of Ashur Bank. Speacking at the event, Managing Director of ATFX Levant, […]
Iraq Payment to Iran not in breach of US Sanctions
By John Lee. US State Department spokesperson Matthew Miller (pictured) has explained the background to Iraq's payment of its debt to Iran, despite the sanctions that are in place with regard to Iran. At a press briefing, he was asked: "Iraqi electricity ministry, they told the state media that Iraq has paid off all the […]
UN commitment to support a Green Economy in Iraq
UNDP Regional Director for Arab States concludes visit to Iraq with commitment to support a green economy The United Nations (UN) Assistant Secretary-General and United Nations Development Programme (UNDP) Assistant Administrator and Regional Director for Arab States, Mr. Abdallah Al Dardari, has concluded a five-day mission to Iraq with a commitment to support new development […]
Wood to Expand Operations in Iraq
By John Lee. UK-based consulting and engineering company Wood has announced that it is investing in the growth and development of its national workforce in Iraq, with plans to recruit more than 200 new employees to support new contracts. As part of this the company will welcome 25 new graduates reinforcing its ongoing commitment to […]
KRG to build New Dams across the Region
By John Lee. The Prime Minister of the Kurdistan Regional Government (KRG) has said that the KRG is committed to supporting the construction of dams across the Kurdistan Region. Speaking at the laying of the foundation stone for the Bastora Dam in Erbil governorate, Masrour Barzani said the government has decided to build as many […]
Iraqi Airways receives its First Boeing 787 Dreamliner
Boeing and Iraqi Airways have celebrated the delivery of the airline's first Boeing 787 Dreamliner with a special event in Baghdad to welcome the flag-carrier's super-efficient widebody jet. The Iraqi flag carrier has taken the first of 10 787s on order, to profitably grow its long-haul network and connect Iraq to more international destinations. The […]
Iraq Finalises Oil Export Data for May
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for May: Total exports of crude oil in May: 102,463,387 barrels Revenues from May's crude oil exports: $7.325 billion Oil fields in central and southern Iraq accounted for 102,206,413 barrels of May's crude oil exports. Exports from Kirkuk through the port of Ceyhan […]
How China Dominated Iraq's Solar Energy Market
By Sardar Aziz for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. How China dominated Iraq's solar energy market As Iraq continues to struggle to provide electricity to its people, cheap Chinese technology is helping the country, as well as the […]
Contract Awarded for Housing Units in Anbar
By John Lee. Al-Amar Al-Hadeth for General Constructional Contracting has won a new contract with the United Nations Office for Project Services (UNOPS), for the rehabilitation of 197 Selected Housing Units in Anbar Governorate. The contract is valued at $1,350,835. (Source: UNGM)
First Direct UAE-Iraq Freight Service
Basra Gateway Terminal (BGT), International Container Terminal Services, Inc.'s (ICTSI) operation at the Port of Umm Qasr, recently welcomed the first direct freight service between the United Arab Emirates (UAE) and Iraq. Operated by DP World, the service connects Jebel Ali in Dubai with Umm Qasr and potentially all of Iraq with what a press […]