Elsewedy and TTC complete Substations in Iraq
By John Lee. Elsewedy Electric and Toyota Tsusho Corporation (TTC) have reportedly announced the completion of four electrical substations in Southern Iraq. According to Zawya, the $546-million contract was signed in February 2018, with the participation of the Japan Bank for International Cooperation (JBIC), Bank of Tokyo-Mitsubishi UFJ, and Sumitomo-Mitsui Banking Corporation, under insurance cover […]
WFP Resilience Projects respond to Water Shortages in Iraq
The United Nations World Food Programme (WFP) has expanded its resilience-building programme across Salah al-Din governorate north of Baghdad, to respond to growing concerns about the lower than usual rainfall in Iraq. This year has seen the second lowest rainfall in 40 years in the country. WFP's livelihoods work, implemented with local communities, the Government […]
Khor Mor gets $250m Financing from DFC
Pearl Petroleum, the consortium led by Dana Gas and Crescent Petroleum of the UAE, has signed a $250 million financing agreement with the U.S. International Development Finance Corporation (DFC) to support the gas expansion works currently under way at the Khor Mor gas plant in the Kurdistan Region of Iraq (KRI). DFC is the development […]
KRG approves Agricultural Projects Oversight Bill
By John Lee. The Kurdistan Regional Government's Council of Ministers approved on Wednesday the Agricultural Projects Oversight Bill. According to a statement from the KRG, the bill will play a significant role in creating new jobs for recent graduates, notably from agricultural colleges and institutes. (Source: KRG)
Updated Cooperation Framework for Sustainable Development in Iraq
UN and Government of Iraq sign the updated Cooperation Framework for Sustainable Development to support prosperity and development The Government of Iraq and the United Nations have signed the updated version of the Sustainable Development Cooperation Framework (UNSDCF) 2020-2024, which will guide the work of the UN system in Iraq. The signing ceremony for the […]
Iraqi Govt "Thwarted Cyber Plot to Rig Elections"
By Omar Sattar for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi government says it thwarted cyber plot to rig elections Iraqi authorities succeeded in uncovering plans by cyber hackers to rig the elections, which may end up persuading Iraqi […]
Iraqi Cabinet authorises Desalination Project in Basra
By John Lee. The Iraqi cabinet has agreed to the authorization of a contract with a consortium of companies for a major seawater desalination project in Basra. A statement from the cabinet named the companies as Samsung, Makinasinayi (sic), Biwater, Wood Group and Al-Rida Group. The work will be based on a study submitted by […]
PEG to Study Rail Link to Grand Faw Port
By John Lee. Italian-based Progetti Europa & Global S.p.A. (PEG) is to present its technical and commercial proposals for the development of the railway sector in conjunction with the Grand Faw Port. The statement from the Iraqi cabinet gave no further details. (Source: Govt of Iraq)
New Report: Expanding Access to Banks in Iraq
By John Lee. The Institute of Regional and International Studies (IRIS) at the American University of Iraq, Sulaimani (AUIS) has issued a new report on the banking sector in Iraq. "Expanding Access to Banks in Iraq: Challenges & Pathways to Reform" argues that one of the major obstacles to the development of the private sector […]
Iraq Approves 40,000 Foreign Pilgrims for Arbaeen
By John Lee. Iraq's Supreme Committee for Health and National Safety has approved the entry of 30,000 thirty thousand visitors from Iran and 10,000 from the rest of the world to attend the Arbaeen pilgrimage later this month in Karbala. Visitors will be required to show evidence of negative PCR test for COVID conducted within […]
Market Review: "Summer Fireworks"
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. August started as a typical quiet and slow summer month in which the combination of the scorching summer heat, the holiday season, and the start of the […]
Sandoog to offer Order Fulfillment Service
By John Lee. Iraqi last-mile delivery service Sandoog has announced that it is releasing an upgraded platform to serve local and international e-commerce enterprises looking to reach customers in Iraq at scale. The new service now offers order-fulfillment capabilities, which means stock can be stored at its facilities and delivered to customers nationwide. And with […]