New Power Stations installed in Iraqi Kurdistan last year
In order to solve the problem of electricity shortage and increase the amount of electricity production, the Ministry of Electricity of the Kurdistan Regional Government (KRG) last year installed several new electricity generation units. According to the director of electricity generation of the Ministry of Electricity, two units with a capacity of 500 MW were […]
KRI Tourist Numbers up by nearly One Third
By John Lee. According to figures from the Kurdistan Regional Government (KRG), 6,168,000 tourists visited the Kurdistan Region in 2022, an increase of nearly 2 million on the 2021 figure of 4,189,569. The statistics of tourists by region in 2022 are as follows: Erbil province: 2,752,000 tourists; Sulaimani province: 2,545,156 tourists; Duhok province, 2,340,000 tourists. […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 12th January 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 971.6 4.3% 6.7% RSISX USD Index 803.3 […]
Your Comprehensive Guide to Business in Iraq
By Guest Blogger: Your Comprehensive Guide to Business in Iraq: What's Happening Today? Business in Iraq has been growing steadily in recent years. From a standing start in 2003, the Iraqi economy has seen a remarkable transformation, with the private sector playing an increasingly important role in the country's overall economic development. Despite the ongoing […]
KRG to Digitise Company Registration
The Kurdistan Regional Government (KRG) has announced that the registration of the companies will be digitised, in order to reduce the cost of registration and to save time. According to a press release from the KRG, this facility is expected to increase number of companies registered in the Kurdistan Region. Blnd Mohammed, Director General of […]
After Comeback, Southern Iraq's Marshes are now Drying Up
By Wil Crisp for Yale Environment 360. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. After Comeback, Southern Iraq's Marshes Are Now Drying Up After recovering from Saddam Hussein's campaign to drain them, Iraq's Mesopotamian Marshes are disappearing as a regional drought enters […]
Investment Opportunities in Iraq's Oil Refineries
By John Lee. Iraq's Minister of Oil has announced upcoming investment opportunities in the refining industry. Minister Hayan Abdul-Ghani said the plans include increasing refining capacities as follows: Al-Amarah refinery (150,000 barrels per day); Al-Muthanna refinery (100,000 barrels per day); Kirkuk refinery (100,000 barrels per day); Qayyarah refinery (70,000 barrels per day), and, a new […]
Iraqi Govt Props Up Value of Iraqi Dinar
By John Lee. The Iraqi Cabinet has agreed a package of measures aimed at propping up the value of the Iraqi dinar, following continued downward pressure on the currency relative to the dollar: All government agencies are required to sell all goods and services inside Iraq based on the Central Bank USD exchange rate of […]
75 Projects implemented in Sulaimani last year
By John Lee. In 2022, 75 projects have been implemented in Sulaimani city on the revenue budget of the Ministry of Municipalities and Tourism and in the municipal sectors, water, sewerage and tourism, at a cost of 6.4 billion Iraqi dinars: 27 projects were implemented in the water and sewerage sector at a cost of […]
Governor of Diwaniyah dismissed for Corruption
By John Lee. Prime Minister Muhammad Shia'a Al-Sudani has dismissed the Governor of Diwaniyah, Mr. Zuhair Ali Al-Shaalan, as he is under investigation on suspicions of corruption, which are being considered by the relevant courts. He also dismissed Iyad Mahmoud Hadi Al-Jubouri from the duties as head of the National Retirement Authority, based on the […]
Online Business Portal Delivers Results in Iraq
From the United Nations Conference on Trade and Development (UNCTAD): The number of people registering businesses in Iraq through the country's online portal has steadily grown over the past year. In November 2022, over 275 companies were registered through business.mot.gov.iq - more than five times the number recorded during the first month after going live […]
US adds Iraqi Entities to Sanctions List
By John Lee. The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated critical nodes of a key financial facilitation network of the Islamic State of Iraq and Syria (ISIS), which included four individuals and two entities in Türkiye, who have enabled the terrorist group's recruitment and financial transfers to and from […]