New Border Crossing between Iran and KRI
By John Lee. The Shoshme [Shushme] border crossing in Halabja has been opened. According to the KRG, the gate is open for tourist traffic between the Kurdistan Region of Iraq (KRI) and Iran. (Source: KRG)
With Iraq's New Budget, Baghdad "goes after Kurdish Oil"
By Joseph Daher for The New Arab. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. With Iraq's new budget, Baghdad goes after Kurdish oil Taking advantage of festering divisions within Kurdistan and the weakening of the KRG government, Iraq's central government has seized its […]
Iraq Improves Ranking in Global Peace Index
By John Lee. The Institute for Economics and Peace has ranked Iraq 154th out of 163 countries in its 2023 Global Peace Index. This represents an improvement of three places on last year's ranking. The report also estimates the economic impact of violence in Iraq at over $82 billion. The most peaceful countries were listed […]
Is Iraq's $17bn Road & Rail Mega-Project Feasible?
By Dana Taib Menmy for The New Arab. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. 'Route of Development': Is Iraq's $17 billion road and rail mega-project feasible? Iraq's 'Route of Development' ["Development Road"; "Dry Canal"] is ambitious, but an unstable political and security […]
Will Sudani's 3-Yr Budget bring Stability to Iraq?
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Deep Dive: Will Sudani's three-year budget bring stability to Iraq's economy? Almost five months after taking office, Iraqi Prime Minister Muhammad Shia' Al-Sudani (pictured) in March this year submitted a draft budget law […]
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 […]