Iraqi Army may replace Russian Helicopters with US Models
By John Lee. The Office of Security Cooperation-Iraq (OSC-I) at the U.S. Embassy in Baghdad has been working with the Iraqi Ministry of Defense to convert the entire fleet of the Iraqi Army Aviation Command (IqAAC) to U.S.-produced aircraft in order to simplify parts acquisition, maintenance, and training. This quarter, the U.S. Central Command (USCENTCOM) […]
Cinnabon opens its First Store in Iraq
By John Lee. US bakery and café chain Cinnabon has reportedly entered the Iraqi market. According to World Coffee Portal, the Focus Brands-owned operator has opened a store in Baghdad's Al Jadiriyah neighbourhood. Founded in Seattle in 1985, Cinnabon currently operates more than 1,600 franchise locations worldwide, primarily in high-traffic venues such as shopping malls, […]
IDC completes New Oil Well at Zubair
By John Lee. The Iraqi Drilling Company (IDC) has successfully drilled a new oil well in the Zubair oil field at a depth of 2,472 meters. The well is the 14th of 37 to be drilled at the field as part of a contract with the Italian company ENI, in cooperation with Schlumberger. This is […]
Iraqi Minister discusses Industrial Partnerships with French Ambassador
By John Lee. Iraq's Minister of Industry and Minerals, Professor Dr. Eng. Khaled Battal Al-Najm, met with the French Ambassador to Iraq, Mr. Eric Chevalier, on February 7, 2023, in the presence of a representative from the Iraqi Ministry of Foreign Affairs. The Minister expressed his desire to enhance cooperation with France in various industrial […]
Will Central Bank bring an End to Iraqi Dinar Crisis?
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 Iraq's central bank bring an end to the dinar crisis? The Iraqi dinar has since mid-December plummeted on the parallel market, trading for as low as 1,750 against the US […]
Iraq Reform, Recovery and Reconstruction Fund I3RF: 2022 Report
Iraq Reform, Recovery and Reconstruction Fund I3RF : Trust Fund Annual Progress Report to Development Partners 2022 The Iraq Reform, Recovery and Reconstruction Fund (I3RF) was founded in partnership with the Government of Iraq in 2018 and is funded by Canada, Germany, Sweden and the United Kingdom.The Trust Fund provides a platform for financing and […]
Alstom and Hyundai discuss "Baghdad Monorail"
By John Lee. The Director General of the Iraq Railways Company, Eng. Yunus Khaled Jawad, held a meeting with representatives of Alstom and Hyundai this week at the company's headquarters. The purpose of the meeting was to discuss the plan for the implementation of the Baghdad Elevated Train (BET) project, also known as "Baghdad monorail". […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 9th February 2023). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Return RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 925.1 -2.3% 1.6% RSISX USD Index 811.3 […]
Strategic Planning Workshop on Reintegration in Iraq
UNDP and Government of Iraq hold strategic planning workshop on reintegration in Iraq Led by the Government of Iraq, the United Nations Development Programme Iraq (UNDP), and the Global Community Engagement and Resilience Fund, a three-day workshop has brought together experts and practitioners on reintegration in addition to representatives from government, academia, civil society, and […]
Iraqi Cabinet Approves 5th Round Energy Licences
By John Lee. Iraq's Council of Ministers has approved the recommendation of the Economic Energy Council to sign contracts for the fifth energy licensing round. According to a government statement, the fifth-round projects had been suspended for four years due to "a complaint about the correctness of the procedures." It adds that, "after this file […]
Giant Nibras Petrochemical Project to be Revived
By John Lee. Iraq's giant Nibras (Nebras) petrochemical project looks set to be revived, according to a statement from the Iraqi government. The Cabinet made a number of decisions relating to the project this week, including: Setting the price of the gas used to operate the project at 1.5 dollars per million British thermal units […]
Contracts Signed for Iraq Interconnection Project
By John Lee. The Gulf Cooperation Council Interconnection Authority (GCCIA) has signed 5 contracts with companies to implement the electrical interconnection project between the Gulf states and Iraq. According to a post by @raad_arabi on Twitter, the total cost of the project is more than $200 million. The authority will construct a 295-km power line […]