New Alliance of Entrepreneurship-Focused Institutions in Iraq
The Iraqi Riyada Network for Access, Development, and Advancement (IRADA Network) was launched recently in Baghdad. It is the creation of a consortium of prominent institutions specializing in business development and entrepreneurship, including the RWANGA Foundation in Iraqi Kurdistan, Qaf Lab in Mosul, and Tafa3ul Hub from Basra. Institutions From Baghdad include Computiq, The Station, […]
Progress on Customs Automation in Iraq
By John Lee. Prime Minister Mohammed Shia Al-Sudani has presided over a meeting to monitor the progress of customs automation and network integration. The meeting included representatives from the United Nations Conference on Trade and Development (UNCTAD). During the meeting, detailed reports on the first phase of implementing the global system for customs automation and […]
New Bank joins KRG's MyAccount Initiative
By John Lee. The Kurdistan Regional Government (KRG) has announced that BBAC Bank has joined the 'My Account' financial inclusion initiative, increasing the total number of participating banks to four: Ashur, BBAC, Cihan, and Region Trade Bank (RTB). It said this is part of ongoing efforts to expand the initiative and provide citizens with more […]
Coded Militia Language Aims to Signal Escalation
By Hamdi Malik, Crispin Smith and Michael Knights, for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Coded Militia Language Aims to Signal Escalation The Iraqi "resistance" is using language that previously presaged attacks on U.S. targets, […]
Iraq to charge Customs Duties/Taxes "Exclusively in Iraqi Dinars"
By John Lee. The Kurdistan Regional Government (KRG) has said that customs duties and taxes at border crossings will now be levied exclusively in Iraqi dinars instead of US dollars. Full statement from the KRG: According to Decree No. 227 of the Council of Ministers, dated September 20, 2023, customs duties and taxes at border […]
UAE's Crescent Petroleum starts Iraq Gas Development Projects
By John Lee. Iraq's Oil Minister has 'activated' three contracts with UAE-based Crescent Petroleum, as part of Iraq's fifth licensing round. The contracts are aimed at harnessing 400 million standard cubic feet of gas per day, within one and a half years, from the following development blocks: Gilabat-Qumar [Kalabat], in Diyala Khashim Ahmer-Injana [Khasham Al-Ahmar], […]
US Fast Food Restaurant Opens in Baghdad
By John Lee. US-based FAT (Fresh. Authentic. Tasty.) Brands Inc. has announced the opening of its first Johnny Rockets fast-food restaurant in Iraq. The new site is located in the Alyarmouk [Yarmouk] neighborhood Baghdad, and is operated by Alanwar Alarabiya. The first Johnny Rockets restaurant opened in 1986 in Los Angeles, and the chain now […]
DNO announces Q3 Iraq Oil Production
By John Lee. DNO ASA, the Norwegian oil and gas operator, will publish its Q3 2023 operating and interim financial results on 9 November at 07:00 (CET). A videoconference call with executive management will follow at 10:00 (CET). The Company issues below an update on production and sales volumes for the quarter as well as […]
KRG Boosts Water Resources with 13 New Dams
Kurdistan Region Boosts Water Resources with 13 New Dams The ninth cabinet of the Kurdistan Regional Government (KRG) has made significant strides in enhancing water availability across the region. Their primary focus has been the construction of dams and reservoirs, with the completion of four dams and ongoing work on 13 additional ones. The combined […]
Iraq allocates $19m for new Civil Defense Centers
By John Lee. The Iraqi Cabinet has decided to allocate 25 billion dinars [$19 million] from the Ministry of Finance's emergency reserves to the Ministry of Interior. The funds will be added to the investment budget of the Civil Defense Directorate to enable the construction of 100 low-cost civil defense centers using a direct implementation […]
Iraqi State takes Share in New Housing Projects
By John Lee. In its 41st regular session, chaired by Prime Minister Mohammed Shia Al-Sudani, the Iraqi Cabinet approved the allocation of four new residential city projects to foreign and local companies based on recommendations from the ministerial team established under Cabinet Resolution (23121) of 2023. The projects are as follows: New Al-Juwayriyah [Jawahiri] City […]
Iraq Plans Factory with Mercedes and MAN
By John Lee. An advisor to the Iraqi Prime Minister has reportedly announced Iraq's intentions to build factories for the German companies Mercedes and MAN. Al Iqtisad quotes Mohammed Sahib al-Daraji as saying that this initiative is a result of a memorandum of understanding (MoU) signed by Iraq's Defence Industries Commission (Military Industrialization Authority) and […]