KRG Launches Business Registration System
The Kurdistan Regional Government (KRG) has launched an online portal to streamline and expedite the registration process for businesses. This initiative aims to reduce costs and simplify procedures, making it easier for entrepreneurs to establish their companies in the region. With the new online system (business.digital.gov.krd), business owners can conveniently submit their applications from anywhere […]
Iraq Oil Exports for May: $7.3bn
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for May: Total exports of crude oil in May: 102,463,387 barrels Revenues from May's crude oil exports: $7.306 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 […]
Iraq "Is Quietly Falling Apart"
By Michael Knights, for Foreign Affairs. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq Is Quietly Falling Apart Iran's proxies have seized power in Baghdad, and are gutting the state. Click here to read the full article.
Iraq: 643 Abducted by Govt-Linked Militias in 2016
By Amnesty International. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq: Authorities must act to reveal fate of 643 men and boys abducted by government-linked militias The Iraqi authorities must take concrete action towards revealing the fate and whereabouts of at least 643 […]
$17bn "Development Road Project" Launched by Iraqi Govt
By John Lee. The government of Iraq announced more details this week on its plans to create a transport corridor between the Persian Gulf and the Mediterranean Sea coast in Turkey. The 1,200-kilometer "development road project", sometimes referred to as the "dry canal project", will link Iraq's Grand Faw port, which is still under construction, […]
Iraqi Govt allocates $417m to build New Oil Export Facility
By John Lee. The Iraqi government has reportedly allocated approximately $417 million to build a third offshore oil export pipeline. State-owned Basra Oil Company (BOC) is said to have signed a ontract with the Dutch company Royal Boskalis, to build the two-million-bpd facility. (Sources: INA, Reuters, Kurdistan24)
Central Bank of Iraq Increases Gold Holdings
By John Lee. The Central Bank of Iraq (CBI) has recently acquired approximately 2.3 tons of gold, leading to a 1.79-percent increase in its overall gold holdings. With this purchase, the bank's total gold reserves now stand at 132.74 tons, maintaining its rank at 30 among the world's gold-holding nations. The Investments Department of the […]
New Agreements "Confirm the New Oil Market Order"
By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Three New China-Russia-Iran and Iraq Agreements Confirm The New Oil Market Order The last week or so has seen a flurry of major cooperation agreements - including in energy, security, […]
Malaysian Firm Wins $82m Contract in Iraq
By John Lee. Malaysia's Pestech International, through its joint venture with China Energy Engineering Group Tianjin Electric Power Construction Co Ltd (TEPC), has won a contract is for the completion of the Electricity Sector Reconstruction Project Phase (III), Lot 1-Construction, comprising of four 132-kilovolt Gas Insulated Switchgear (GIS) substations in Baghdad. The contract value is […]
Asiacell, QiCard, and Digital Zone join forces in Iraq
By John Lee. Iraqi telecom provider Asiacell, fintech Qi and platform Digital Zone have officially announced a strategic alliance. According to a statement from Asiacell, this integration will empower millions of Asiacell and Qi's shared customers to carry out purchases using their Qi payment cards seamlessly. This promises a smooth retail experience, fostering financial inclusion, […]
IrisGuard, NassWallet partner in Iraq
By John Lee. UK-based IrisGuard and Iraq's NassWallet have announced a new partnership with the integration and deployment of IrisGuard EyePay iris enabled smartphone, and EyeCloud platform with NassWallet's mobile wallet service. According to a statement from IrisGuard, the integration will enable a regular verified disbursement of humanitarian cash assistance, provided by the United Nations […]
New Mangrove Nursery in Basra to foster Sustainable Development
WFP and Iraq develop a mangrove nursery in Basra to foster sustainable development and combat the climate crisis The United Nations World Food Programme (WFP), in partnership with the local government of Basra, Iraq's Ministry of Environment, and the University of Basra's Marine Science Centre started a mangrove nursery in the tidal flats region with […]