IBBC hosts largest ever Spring Conference
The Iraq Britain Business Council (IBBC) hosted the largest attendance for their Spring conference at the Mansion house on 24th May, with just under 300 attendees, half of whom came from Iraq. Widely considered a success, the overall theme was 'sustaining economic growth in Iraq', There were multiple panels and roundtable sessions; including four panels […]
Iraq Expects Record Currency Reserves by end-2022
By John Lee. The Iraqi Minister of Finance has said that Central Bank of Iraq (CBI) reserves are expected to exceed $90 billion by the end of 2022, a new record for the country. Addressing the Iraqi Cabinet, Ali Allawi (pictured) said that "the recovery in oil prices and prudent financial management helped boost reserves […]
Iraq confirms exceptional April Oil Exports
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for April of 101,390,662 barrels, giving an average for the month of 3.380 million barrels per day (bpd), up from the 3.244 million bpd exported in March. This is the highest daily export rate since the 3.438 million barrels per day achieved in […]
Sardar Group honoured at IBBC Spring Conference
By Padraig O'Hannelly. The Iraq Britain Business Council (IBBC) has awarded this year's Rasmi Al Jabri Annual Award for Excellence to Sardar Group. At the IBBC's Spring Conference in London's Mansion House, which was attended by nearly 300 delegates, Baroness Nicholson presented the 'Infinity Medallion' to group Chairman and CEO, Mr Sardar al Bebany. Based […]
KRG Streamlines Company Registration Process
By John Lee. The Kurdistan Regional Government (KRG) has streamlined the registration of companies in Iraqi Kurdistan. Balend Mohammed, Director General of the Registry of Companies, said that while it previously took many months to register business names, it must now be completed within 24 hours, or else "the relevant parties will be prosecuted." He […]
The Station partners with Accelerator of Pre-Seed Start-Ups
The Station Partners With The Largest Accelerator of Pre-seed Start-ups in The World (FI) The Station Foundation for Entrepreneurship and Founder Institute, the world's largest accelerator of pre-seed start-ups, have announced a partnership that will provide access to international experts and participation in one of the world's most well-known business accelerators for start-ups from The Station […]
$10m to Enhance Teaching in Lagging Iraqi Governorates
Iraq: US$10 million to Enhance Teaching Practices and Improve Learning for the Most Vulnerable Primary Students in Lagging Governorates The World Bank has approved a new US$10 million project to support Innovations towards Learning in three lagging Iraqi Governorates. The project aims to enhance teaching practices of Arabic and Mathematics teachers, and improve literacy and […]
KRG to establish New Tourism Directorates
By Adam Lucente for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Kurdistan Regional Government to establish new tourism directorates Tourist visits are increasing each year to the autonomous part of northern Iraq, an area that offers many natural, cultural and […]
IBBC Paper: Privatisation of State-Owned Enterprises in Iraq
From the Iraq Britain Business Council (IBBC): In its series of papers in support of the Government of Iraq's reform efforts, IBBC is delighted to publish a paper on the privatisation of State-Owned Enterprises. The lead author of the paper is Professor Frank R. Gunter from Lehigh University, who was joined by other Members of […]
IMF: Iraq Real GDP Growth of 10% in 2022
The economy is recovering well amid high oil prices, with real GDP projected to reach its pre-pandemic level this year. Cushioning the impact of surging food prices on the most vulnerable is the most urgent priority. Using the current favorable oil market conditions to accelerate structural reforms and advance socio-economic priorities will be key to […]
Iraq plans 750-MW solar project in Muthanna
By John Lee. Iraq is planning to build a 750-MW solar energy project in Al-Muthanna. On a visit to the province, Electricity Minister Adel Karim said the project would be supported by "several secondary stations", to help meet the need for electricity. The announcement follows major contracts over the past year with companies such as […]
Loans of up to 3 Billion Dinars for Iraqi Farmers
By John Lee. The Director of the Credit Department at the Agricultural Cooperative Bank of Iraq, Hussein Hekmat Al-Ghabban, has said that loans of up to 3 billion dinars ($2 million) are available to farmers to support a range of agricultural and livestock projects. In a promotional video circulated by the Government of Iraq, he […]